Friday, July 17, 2026
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Industrial

Butterfield-5-Technology-Park-Morgan-Hill-CA
AcquisitionsCaliforniaIndustrialWestern

Trammell Crow, CBRE Divest of 410,101 SF Butterfield 5 Technology Park in Northern California

by Amy Works

MORGAN HILL, CALIF. — Trammell Crow Co. and joint-venture partner CBRE Investment Management, on behalf of one of its funds, have sold Butterfield 5 Technology Park in Morgan Hill. Invesco Real Estate acquired the asset for an undisclosed price. Totaling 410,101 square feet, the industrial park was completed earlier this year and features five Class A industrial buildings situated on 24 acres. HPA Inc. served as architect and Lusardi Construction acted as general contractor for the project. Rebecca Perlmutter with CBRE National Partners represented the sellers in the disposition. Rob Shannon, Chip Sutherland and Brian Matteoni of CBRE will continue to handle marketing and leasing for the industrial park.

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AcquisitionsIndustrialNevadaRetailWestern

Schnitzer Properties Buys 95,213 SF Westland Center Industrial/Retail Asset in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Portland, Ore.-based Schnitzer Properties has acquired Westland Center, an industrial and retail property located at the intersection of East Craig and North Pecos roads in North Las Vegas. Terms of the transaction were not released. Totaling 95,213 square feet, Westland Center features six buildings with 43 light industrial and retail units spread across 9.7 acres. Schnitzer Properties has owned and operated property in the greater Las Vegas area since 1994.

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AcquisitionsData CentersIndustrialOfficeSoutheastVirginia

Finmarc Acquires Industrial, Data Center Portfolio in Springfield, Virginia for $127.5M

by John Nelson

SPRINGFIELD, VA. — Finmarc Management, a real estate investment and management firm based in Bethesda, Md., has purchased an 11-building portfolio from Boston Properties in Springfield for $127.5 million. The portfolio spans 740,000 square feet of industrial, flex/office and data center space in one- and two-story properties. Situated near Fort Belvoir and I-95, the portfolio was 74 percent leased at the time of sale to tenants including ADT Security Systems, Avaya, SAIC, The Vomela Cos. and the U.S. General Service Administration (GSA). William Collins and Eric Berkman of Cushman & Wakefield represented Boston Properties in the transaction, and Finmarc was self-represented. Michael Zelin and Marshall Scanlon of Cushman & Wakefield, along with consultant Cliff Mendelson of Met Cap Advisors, arranged acquisition financing on behalf of Finmarc.

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AlabamaDevelopmentIndustrialSoutheast

Imperial Dade Opens 221,000 SF Logistics Hub in Loxley, Alabama

by John Nelson

LOXLEY, ALA. — Imperial Dade, a food packaging and janitorial supplies distributor based in Jersey City, N.J., has opened a new logistics hub in Loxley, a city in Alabama’s Baldwin County situated along I-10. The $20 million warehouse and office facility will support the company’s growing customer base in the Gulf Coast and create 55 new jobs. The Class A facility is situated on 29 acres and features a concrete tilt-wall construction. Zach Plevritis and Mary Mozejko led Imperial Dade’s integration team internally and worked with city and county officials for the project.

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38-Upton-Drive-Wilmington
DevelopmentIndustrialLoansMassachusettsNortheast

Middlesex Savings Bank Provides $39.1M Construction Loan for Metro Boston Industrial Project

by Taylor Williams

WILMINGTON, MASS. — Middlesex Savings Bank has provided a $39.1 million construction loan for a 214,440-square-foot industrial project in Wilmington, a northern suburb of Boston. The two-building development is scheduled for a January 2023 completion and will feature a clear height of 32 feet, ESFR sprinkler systems and ample car and trailer parking. Brett Paulsrud and Jonathan Schneider of JLL, working with Middlesex’s Nick Giberson, arranged the loan on behalf of the borrower, Boston-based Davis Cos.

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IllinoisIndustrialLoansMidwest

JLL Arranges $61M Loan for Acquisition of Industrial Portfolio Across 17 Markets

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $61 million loan for the acquisition of a 21-property industrial portfolio across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S. The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years. Matthew Schoenfeldt and Lucas Borges of Chicago-based JLL arranged the loan on behalf of the borrower, Biynah Industrial Partners. The lender and loan terms were not provided.

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IllinoisIndustrialLeasing ActivityMidwest

Sonica International Signs 43,672 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — Sonica International, a freight forwarding company, has signed a 43,672-square-foot industrial lease at 1420 W. Thorndale Ave. in Itasca. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the tenant, which will utilize the space to separate its ocean and air freight. Hamilton Partners owns the building.

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DevelopmentIndustrialSoutheastTop StoriesVirginia

LEGO Group Plans $1B Toy Factory in Metro Richmond, Its First in the U.S.

by Jeff Shaw

CHESTERFIELD, VA. — Danish toymaker LEGO Group has released plans for a 1.7 million-square-foot factory in Chesterfield, a southern suburb of Richmond. Over the course of 10 years, LEGO estimates it will invest $1 billion in the project and generate 1,760 jobs. Located on 340 acres, the project also includes a solar park that will produce 100 percent of the factory’s energy needs. Construction is scheduled to begin this fall, with full production beginning in 2025. The property will be LEGO’s seventh factory worldwide, its second in North America and its first in the United States. LEGO factories in Europe and China are also being expanded, and in December 2021, the privately held toymaker announced plans to build a factory in Vietnam to support further growth in Asia. The industrial expansion is part of the company’s goal to shorten supply chains and reduce its carbon footprint. The project is also designed to meet LEED Gold standards. “More and more families are falling in love with LEGO building, and we are looking forward to making LEGO bricks in the United States, one of our largest markets,” says Niels Christiansen, CEO of LEGO Group. “The location in Virginia allows us to build …

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Fossil-Creek-Tech-Center-Fort-Worth
IndustrialMarket ReportsTexasTexas Market Reports

Fort Worth’s Population Growth Spotlights Shortage of Class B Industrial Space

by Taylor Williams

By Jason Baxter, president and CEO, Fort Capital While some might think that industrial warehouses are overflowing with e-commerce tenants, in Fort Worth, we have seen another tenant mix grow at an even more rapid pace: service providers. These are the plumbers, landscapers and electricians that work behind the scenes to keep cities running.  With population growth skyrocketing in Fort Worth, the industrial space needed by these service providers is also growing at a rapid rate. According to the U.S. Census Bureau’s latest population estimates, Fort Worth’s population increase was the third-largest in the country between 2019 and 2020, a period during which the city added more than 19,000 new residents. This increase allowed Fort Worth to jump from No. 13 to No. 12 in terms of the largest U.S. cities based on population.  We often forget that population growth at this scale impacts all facets of real estate — housing, office, entertainment, industrial. Each of these uses requires various types of service providers to maintain.  Fort Worth and similar fast-growing markets do not have enough space to support this growing segment of the tenant base in addition to the e-commerce and logistics users that have become the face of …

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DevelopmentFloridaIndustrialSoutheast

GCP to Develop 237,500 SF Industrial Facility Near Jacksonville Port

by John Nelson

JACKSONVILLE, FLA. — Growth Capital Partners (GCP), an industrial real estate developer and owner based in Birmingham, plans to develop a 237,500-square-foot industrial facility near JAXPORT (Jacksonville Port Authority). GCP recently purchased a 37.8-acre site on Alta Drive near JAXPORT’s Blount Island and Dames Point terminals with plans to break ground in July on the project. Dubbed Port Commerce Center, the front-load, concrete tilt-wall project will feature 32-foot clear heights, a 130-foot truck court and land for trailer storage. GCP has tapped Bryan Bartlett of Newmark to lease the property. Newmark also represented the land seller, an entity doing business as Alta Jacksonville Holdings, in the transaction. Birmingham-based Vardaman Construction LLC is the general contractor of Port Commerce Center, which is GCP’s fourth industrial project underway. The developer is also building industrial facilities in Texas and Tennessee.

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