GARLAND, TEXAS — Verdi Commerce, a marketing and consulting platform for e-commerce users, has signed a 94,249-square-foot industrial lease at 3901 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2008 and totals 435,179 square feet. Merideth Murphey, Evan Hammer, Lauren Pesqueda and Brendan Zrowka of Whitebox Real Estate represented the tenant in the lease negotiations. Robert Allen internally represented the landlord, First Industrial Texas.
HAMILTON, N.J. — Cushman & Wakefield has arranged the sale of a 171,269-square-foot industrial facility in Hamilton, a suburb of Trenton. Built in 2021, the property is a redevelopment of a shopping center and features a clear height of 36 feet, 40 loading positions, parking for 150 automobiles and trailer storage. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the sellers, Penwood Real Estate Investment Management and Metrix Real Estate Services LLC, in the transaction. Principal Real Estate Investors acquired the property for an undisclosed price.
RAVENNA, OHIO — Boston Group, which designs and manufactures custom metal and plastic displays for retail stores, hospitals and pharmacies, has unveiled plans to relocate its headquarters from Boston to Ravenna, about 15 miles east of Akron. The company will also relocate from an existing manufacturing facility in Hubbard, Ohio. The new headquarters and manufacturing facility will span 308,000 square feet of office and warehouse space. The property owner, Industrial Commercial Properties, acquired the asset in March 2021 and renovated interiors and exteriors. David Stubblebine and David Skinner of The Stubblebine Co. and Kevin Joseph of Weber Wood Medinger/CORFAC International represented Boston Group in the transaction.
BATAVIA, ILL. — Brown Commercial Group has negotiated the sale of an 18,240-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. The property, which features outdoor storage space, is located on Pierson Drive. Mike Antonelli of Brown represented the seller, Rhondarosa Properties LLC, as well as the buyer, H5P LLC. The buyer is a road and snow maintenance company that was looking to expand into a space with outdoor storage for its equipment.
MESQUITE, TEXAS — Stream Realty Partners has broken ground on 20 East, a 3.4 million-square-foot industrial project in the eastern Dallas suburb of Mesquite. The initial phase of the development will consist of three buildings totaling 1.8 million square feet that will be constructed on 192 acres. One of those warehouses will feature a rear-load configuration and 36-foot clear heights, while the other two will be cross-dock facilities with 40-foot clear heights. Phase II will also comprise three buildings that will total 1.6 million square feet across 92 acres and will be marketed as both speculative and build-to-suit spaces. Stream is also leasing and managing the development. Completion of Phase I is scheduled for the third quarter of 2023.
BURLESON, TEXAS — A partnership between operator Arcadia Cold Storage & Logistics and developer Saxum Real Estate has begun construction a 295,245-square-foot cold storage facility in Burleson, a southern suburb of Fort Worth. The facility will be developed on speculative basis and will feature roughly 43,000 pallet positions and spaces for distribution of both frozen and refrigerated product. Primus Builders is the general contractor for the project. Completion is slated for the second quarter of 2023.
FORNEY, TEXAS — A partnership between Dallas-based developers Gault Co. and RTG Capital LLC has acquired a 200,000-square-foot, multi-tenant industrial facility located in the eastern Dallas suburb of Forney. David English, Grant English and Jeanie Gillock of RidgePoint Commercial Real Estate represented the partnership in the transaction. Additional terms of sale, including the name of the seller, were not disclosed.
LISLE, ILL. — Byline Bank, a subsidiary of Byline Bancorp Inc. (NYSE: BY), has provided an $11 million loan for the acquisition of a three-building flex industrial portfolio totaling 157,000 square feet in Lisle. A joint venture between Integris Ventures and Starlight Equity Partners was the borrower. Upon acquisition, the buyers plan to implement a capital improvements program. The seller was undisclosed.
ELMHURST, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate, an investment entity sponsored by Harbert Management Corp., has sold a seven-building industrial portfolio in Elmhurst for an undisclosed price. Hamilton Partners purchased the portfolio, which totals 140,796 square feet. The buildings are fully leased to 23 tenants that occupy space ranging in size from 1,300 to 14,000 square feet.
WINDSOR, CONN. — Condyne Capital Partners is underway on construction of Baker Hollow Logistics Center, a 165,000-square-foot industrial project in Windsor, a northern suburb of Hartford. The project will feature a clear height of 32 feet, one drive-in ramp and 58 trailer parking spots. Project partners include Polar Design Build, Maugel DeStefano Architects, C.E.Doyle, Pierce Builders Inc. and Turner Brothers LLC. The tilt-up walls have been fabricated and erected, and full completion is scheduled for November.