Wednesday, November 5, 2025
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JLL Arranges $820M Refinancing for 6.1 MSF Industrial Portfolio Across Six Markets

by Kristin Harlow

IRVINE, CALIF. — JLL Capital Markets has arranged an $820 million refinancing for a 6.1 million-square-foot industrial portfolio comprising 42 shallow-bay properties across six markets. JLL arranged the CMBS financing on behalf of the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors. Wells Fargo led the floating-rate, single-asset single-borrower (SASB) refinancing, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The properties span major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September, the portfolio was 91 percent leased to more than 950 tenants. The buildings feature average clear heights of 19 feet, an average office finish of 33 percent and range in size from 16,176 to 944,655 square feet. The average property size is 145,925 square feet. Many tenants are logistics, e-commerce and distribution users, including last-mile operators and small- to medium-sized businesses. CIP plans to continue its growth strategy in the shallow-bay industrial sector, where it sees opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants, according to CEO Eric Smyth. JLL’s Kevin MacKenzie, Peter Thompson, Christopher Pratt, Kyle White, Anthony Scaglione and Nick Englhard led …

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DevelopmentIndustrialLife SciencesSoutheastVirginia

Merck Breaks Ground on $3B Pharmaceutical Manufacturing Plant in Elkton, Virginia

by John Nelson

ELKTON, VA. — Merck has broken ground on the Center of Excellence for Pharmaceutical Manufacturing, a $3 billion pharmaceutical manufacturing facility in Elkton. The 400,000-square-foot property will support more than 500 full-time jobs and 8,000 construction jobs, according to Merck. The facility will feature manufacturing and testing space for Merck’s active pharmaceutical ingredient and drug product divisions. In addition to the Elkton plant, Merck has announced nearly $6 billion in manufacturing investments in North Carolina, Delaware and Kansas, as well as $3.5 billion for its Rahway, N.J., headquarters.

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DevelopmentFloridaIndustrialSoutheast

Stonemont Financial Group Delivers 100,620 SF Industrial Facility in Tampa

by John Nelson

TAMPA, FLA. — Atlanta-based Stonemont Financial Group has delivered TIA Executive Center, a 100,620-square-foot industrial facility located at 6101 Johns Road in Tampa. The property, which is situated two miles from Tampa International Airport, features 32-foot clear heights, spec office suites and space that is divisible down to around 33,000 square feet. Project partners include joint venture partner PCCP, general contractor Frampton Construction, architect Harley Commercial Architecture, engineer Kimley-Horn and leasing agents Peter Cecor and Harrison Pithers of JLL.

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IndustrialLeasing ActivityTexas

TGS Cedar Port Partners Preleases 420,150 SF Distribution Building in Baytown, Texas

by Taylor Williams

BAYTOWN, TEXAS — TGS Cedar Port Partners LP, the owner of the 15,000-acre Cedar Port Industrial Park master-planned development in Baytown, has preleased a 420,150-square-foot distribution building. Supply Chain Management LLC will occupy the entirety of the building at 5300 E. McKinney Road, which is known as TGS Cedar Port DC 9. The building is currently under construction on a 23-acre site and will feature a cross-dock configuration and 40-foot clear heights. Partners Real Estate represented ownership in the lease negotiations. Brad Beauchamp of Colliers represented the tenant.

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AcquisitionsIndustrialTexas

Scarborough Arranges Sale of 157,379 SF Warehouse in Tyler, Texas

by Taylor Williams

TYLER, TEXAS — Locally based brokerage firm Scarborough Commercial Real Estate has arranged the sale of a 157,379-square-foot warehouse in Tyler, about 100 miles east of Dallas. According to LoopNet Inc., the building at 13343 I-20 E was built on 37.2 acres in 1959, renovated in 2009 and features 23-foot clear heights and 12 dock-high doors. Sam Scarborough of Scarborough Commercial Real Estate represented the seller in the transaction, and Brian Burks of Landbridge Commercial Properties represented the buyer. Both parties requested anonymity.

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DevelopmentIndustrialMidwestWisconsin

McShane Completes 372,000 SF Manufacturing Facility for Schuetz Container Systems in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — McShane Construction Co. has completed a build-to-suit manufacturing and distribution facility for Schuetz Container Systems in Kenosha. The manufacturer of industrial packaging is part of Germany-based Schütz Group. McShane provided design-build services for the 372,000-square-foot building, which offers a clear height of 40 feet, 48 truck docks, four drive-in doors, 245 trailer parking spaces and six 4,000-amp power services. The project also includes a two-story, 14,000-square-foot office, mezzanines throughout the manufacturing areas and four interior cranes to assist with equipment installation and moving materials. McShane also completed a railroad extension, bringing three rail lines to the site. Harris Architects served as the architect.

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AcquisitionsIndustrialKansasMidwest

Gordon Brothers Acquires Former Heartland Coca-Cola Production Facility in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Gordon Brothers has acquired the former Heartland Coca-Cola production facility in Lenexa. Heartland Coca-Cola has expanded its operations to a larger facility, and the production assets and property in Lenexa were no longer required. Gordon Brothers plans to decommission and sell the existing bottling equipment with the firm’s auction partner, New Mill Capital, followed by capital improvements to enhance the property’s marketability for future sale or lease. The machinery and equipment auction begins closing Wednesday, Nov. 12. The property includes a 186,073-square-foot building situated on nearly 9 acres with a clear height of 18 feet, 22 dock-high doors, two drive-in doors and 11,000 amps via three electrical services. Gordon Brothers has retained Kessinger Hunter to provide construction management, property management and brokerage services to re-tenant or sell the building. The building will hit the market in the coming months. The Kessinger Hunter team includes Kurt Jensen, Stewart Jensen and Dan Jensen.

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IndustrialLeasing ActivityTexas

Mester Lighting Signs 37,090 SF Industrial Lease Expansion in Stafford, Texas

by Taylor Williams

STAFFORD, TEXAS — Mester Lighting Corp. has signed a 37,090-square-foot industrial lease expansion in Stafford, a southwestern suburb of Houston. According to LoopNet Inc., the building at 10643 W. Airport Blvd. totals 62,050 square feet. Garret Geaccone and Jon Farris of Stream Realty Partners represented the landlord, Ares Management Corp., in the lease negotiations. David Buescher of JLL represented the tenant.

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AcquisitionsIndustrialMassachusettsNortheastOffice

Marcus & Millichap Brokers $5.8M Sale of Industrial, Office Complex in Acton, Massachusetts

by Taylor Williams

ACTON, MASS. — Marcus & Millichap has brokered the $5.8 million sale of a 76,251-square-foot industrial and office complex in Acton, located northwest of Boston. The complex at 930 Main St. consists of seven buildings that collectively house about 61,700 square feet of warehouse space and 14,500 square feet of office space. Luigi Lessa, Harrison Klein and Mattias Edenkrans of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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IndustrialLeasing ActivityTexas

US Elogistics Service Signs 168,893 SF Industrial Lease in Southwest Houston

by Taylor Williams

HOUSTON — US Elogistics Service Corp. has signed a 168,893-square-foot industrial lease in southwest Houston. According to LoopNet Inc., the building at 12631 S. Main St. was completed in 2024 as part of Post Oak Logistics Park, a two-building, 43-acre development. Jeremy Lumbreras and Garret Geaccone of Stream Realty Partners represented the landlord, Goldman Sachs, in the lease negotiations. Ivy Chen of local brokerage firm USWHSE represented the tenant.

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