SAN JUAN, TEXAS — Newmark has brokered the $7.6 million sale of a 54,608-square-foot retail and industrial building in San Juan, located in Hidalgo County in South Texas. The newly renovated building at 801 E. Interstate 2 will house the first store and showroom in the Rio Grande Valley for Bob Mills Furniture, which also purchased the building. Stewart Skloss of Newmark brokered the deal on behalf of Bob Mills Furniture. The seller was not disclosed.
FORT WORTH, TEXAS — FedEx Ground Package System has renewed its 186,577-square-foot industrial lease in Fort Worth. The space is located within Carter Distribution Center, a four-building, 1 million-square-foot complex on the city’s south side that was originally built in 2018. Thomas Eddins of Fischer & Co. represented the tenant in the lease negotiations. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, PGIM.
LA PORTE, TEXAS — Atlanta-based Stonemont Financial Group has purchased a 5.8-acre industrial outdoor storage (IOS) facility in La Porte, an eastern suburb of Houston. The site at 615 N. Sixth St. is located at the entrance to Port Houston’s Barbour’s Cut shipping terminal, and the property includes 61,000 square feet of office, maintenance and manufacturing space. The seller and sales price were not disclosed. Stonemont acquired the property in conjunction with a 5.3-acre IOS property in the metro Atlanta area.
BAYONNE, N.J. — Turnbridge Equities, an investment firm with four offices across the country, has begun the $12 million repositioning of Bayonne Distribution Center, a 613,129-square-foot industrial complex in Northern New Jersey. The property consists of three buildings that range in size from 18,748 to 433,204 square feet and are situated on an 18-acre site that includes 2.3 acres of industrial outdoor storage space. Turnbridge acquired the property earlier this year and has tapped NAI James E. Hanson as the leasing agent.
DENVER — Malman Real Estate has arranged the purchase of a 6,400-square-foot industrial building located at 3645 Brighton Blvd. in Denver. ARN Land Co LLC acquired the asset from 3645 Brighton LLC for $2.1 million. Jake Malman of Malman Real Estate represented the buyer, while Dallas Landry of LC Real Estate Group, along with Jerry Graham and Jamie Dilts of Coldwell Banker Realty, represented the seller in the transaction.
ROSEMOUNT, MINN. — EGA Spectro Alloys, a Midwest-based producer of recycled aluminum alloys, has begun production at its aluminum recycling expansion project in Rosemount. The 90,000-square-foot facility will produce up to 120 million pounds per year of recycled aluminum billets from scrap aluminum. The expansion will add up to 50 full-time jobs once the facility reaches full production capacity in the first quarter of 2026. Aluminum billet, logs of aluminum up to 25 feet long, is used as raw material for extruders, which turn it into products like railings, window and door trim, and structural components for cars, boats, airplanes, trailers and docks. Recycling aluminum requires 95 percent less electricity than producing new aluminum and generates a fraction of the greenhouse gas emissions. Metal from the facility will be sold under EGA’s recycled product brand RevivAL, a nod to the company’s 52-year history of giving used aluminum new life. The facility also features a new laboratory.
By Harrison Kruse and Ned Turner, CBRE As we near the second half of 2025, the Des Moines industrial market is starting to see a shift in fundamentals, as new deliveries and the pipeline of new big-box speculative warehouse product have come to a complete halt. Like many cities in the upper Midwest post-COVID, the Des Moines MSA saw an influx of out-of-state developers backed by institutional capital go ground up with new big-box product when the economy was stimulated by the Federal Reserve reducing the federal funds rate below 1 percent. This resulted in historically compressed treasury yields and an abundant amount of liquidity injected into the capital markets. This effect on the national economy escalated consumer demand for e-commerce and locally, ag-related products, which are the state of Iowa’s most valuable export on an aggregate basis. The Des Moines MSA between 2021 and 2024 had more than 6.8 million square feet of new industrial space delivered to the market, which is about 10.2 percent of the total market size on a square-foot basis. During those years, net absorption increased on an annual basis between 800,000 and 1.5 million square feet. Pre-COVID, Des Moines’s average net absorption was between …
CORSICANA, TEXAS — Milwaukee-based Phoenix Investors has purchased a 1.5 million-square-foot industrial park in Corsicana, a southern suburb of Dallas. The 172-acre property was originally constructed as a build-to-suit distribution center for K-Mart and later utilized by The Home Depot as a regional logistics hub. The property was fully leased at the time of sale and includes 26- to 28-foot clear heights, 109 dock doors and 983 trailer parking spaces. In addition, the facility underwent major renovations in 2018, including a new roof installation. Pauli Kerr of JLL brokered the deal. The seller and sales price were not disclosed.
DALLAS — Locally based investment firm M2G Ventures has begun the redevelopment of the former Inwood Design District, a 14-building, 740,000-square-foot industrial and retail property in Dallas that also includes showroom space. The redevelopment will create the Inwood Design District for showroom and light industrial uses and Ace on Inwood for retail and restaurant uses. Completion is targeted for late 2025. The company purchased the 38-acre site at 1110 Inwood Road earlier this year. At the time of sale, Inwood Design District was 93 percent leased to tenants such as Crate & Barrel, White Glove Storage & Delivery, Community Coffee, Neiman Marcus and Granimport USA.
NEW YORK CITY — Regional brokerage firm Adirondack Capital Partners (ACP) has arranged the $16 million sale of a 36,000-square-foot industrial complex in the Long Island City area of Queens. Built in 1960, the two-story building at 11-40 Borden Ave. was fully leased at the time of sale to Distribution International, which specializes in construction supplies. Wickersham Realty sold the property to San Francisco-based Terreno Realty Corp. (NYSE: TRNO). Chad Sinsheimer of ACP brokered the deal, which traded at a cap rate of 4.4 percent, on behalf of both parties.