BILLERICA, MASS. — Marcus & Millichap has arranged the $5.7 million sale of a 40,000-square-foot industrial flex building in Billerica, a northwestern suburb of Boston. The building sits on a 2.9-acre site at 4 Federal St. and was fully leased at the time of sale to Boston Semi Equipment. Harrison Klein, Luigi Lessa and Mattias Edenkrans of Marcus & Millichap represented the seller in the transaction. Peter Kim of Berkshire Hathaway procured the buyer. Both parties requested anonymity. Miguel Encarnacion of NAI | Parsons Commercial Group was also involved in the transaction.
CAROL STREAM, ILL. — Development Solutions Inc. (DSI) has broken ground on a 200,000-square-foot warehouse expansion for Frain Industries at 245 E. North Ave. in the Chicago suburb of Carol Stream. The addition will connect to Frain’s existing 330,000-square-foot facility, resulting in a combined footprint of 530,000 square feet. Upon completion, Frain Industries will operate the largest privately owned facility in Carol Stream, second in size only to the local post office, according to DSI. Completion is slated for June 2025. Headquartered in Carol Stream, Frain works in the packaging and processing industries.
CHICAGO — DarwinPW Realty/CORFAC International has brokered the sale of a 9,600-square-foot flex building located at 2224 W. Grand Ave. in Chicago for an undisclosed price. The property is home to Rainbow Art Inc. and is currently zoned C2-2, which allows for a mixed-use development. The building is situated in the West Town neighborhood and features clear heights ranging from 12 to 16 feet, one drive-in door and two-story office space. Marc Hale and Ali Nix of DarwinPW Realty/CORFAC International brokered the sale. A residential developer purchased the asset.
Canadian Solar’s e-Storage to Develop $712M Battery Manufacturing Facility Near Louisville, Kentucky
SHELBYVILLE, KY. — Shelbyville Battery Manufacturing, a subsidiary of e-Storage, has announced plans to develop a $712 million project in Kentucky, establishing a 6-gigawatt hour battery cell, module and packaging manufacturing facility. Based in Canada, e-Storage is a subsidiary of Canadian Solar — a battery energy storage systems design, manufacturing and integration company. Upon completion, the development will comprise a 1 million-square-foot building located on Logistics Drive in Shelbyville, roughly 35 miles east of Louisville. Shelbyville Battery Manufacturing will produce self-contained energy storage systems at the facility that will be packaged into modular, containerized utility-scale batteries. “The new plant will allow us to provide our U.S. customers with cutting-edge, American-made battery energy storage products,” says Colin Parkin, president of e-Storage. According to a press release issued by the office of Kentucky Gov. Andy Beshear, the project will create 1,572 permanent jobs and marks the third-largest project for job creation during Beshear’s administration, which began in 2019. In August, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with Shelbyville Battery Manufacturing to provide up to $35 million in tax incentives. The authority also approved the manufacturer for up to $5 million in tax incentives through the …
MIDLOTHIAN, TEXAS — Dallas-based developer KDC has delivered a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility features a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction served as the general contractor. Construction began in December 2023.
LOCKHART, TEXAS — Austin-based Evergen Equity has purchased a 284,000-square-foot industrial property in Lockhart, a southern suburb of Austin. The sale includes nine acres of undeveloped land. While under contract, Evergen negotiated a 49,000-square-foot lease with Hill Country Foodworks for its new headquarters and main distribution facility. Stream Realty Partners will market the remainder of the space/land for lease/sale. The seller and sales price were not disclosed.
HOUSTON — Locally based investment and brokerage firm Finial Group has acquired a 30,326-square-foot industrial building in southeast Houston. According to LoopNet Inc., the single-tenant property at 6666 Gulf Freeway was built on 1.3 acres in 1965 and features 18-foot clear heights, three dock-high loading doors and two grade-level drive-in doors. Christian Villarreal and Chase Tucker handled the acquisition for Finial Group on an internal basis. The seller and sales price were not disclosed.
PHILADELPHIA — Veho has signed a 148,611-square-foot industrial lease in northeast Philadelphia. The third-party logistics firm will occupy the entirety of Building 1 at Bridge Point Philadelphia, a two-building, 890,312-square-foot development that was completed recently. Larry Maister and Kyle Lockard of JLL represented the landlord, Bridge Industrial, in the lease negotiations. Barrett Stephan and Brian Hilger of KBC Advisors represented Veho.
PARSIPPANY, N.J. — A division of Altman, a South Florida-based investment firm formerly known as BBX Capital, will develop Apex Logistics at Parsippany, a 140,000-square-foot industrial project in Northern New Jersey. The 10.5-acre site is located about 30 miles from multiple air and seaports and currently houses an office building. Altman is developing the project in partnership with Renard Investments and DHS Real Estate Investment Management. Truist Bank has provided $22 million in construction financing for the project. Construction is expected to begin early next year and to last about a year.
PERRIS, CALIF. — San Francisco-based DECA has broken ground on a warehouse and distribution facility within Perris Gateway, a fully entitled, speculative cross-dock development on 42 acres in Perris. The new warehouse facility is the second phase of the project, with the first phase consisting of 27,000 square feet of retail space that began construction along Ramona Expressway in March 2023. The 855,330-square-foot industrial building will offer a clear height of 40 feet, 124 dock and four grade loading doors, separate 308 trailer stalls and ample auto parking, heavy power, on-site queuing lane and future adjacent retail amenities. The property is situated at the southeast corner of Ramona Expressway and Nevada Road, just off the Interstate 215 on/off ramp. Andrew Starnes, Phil Lombardo and Cruise Adams of Cushman & Wakefield are handling leasing efforts for the warehouse facility. DECA recently closed on a $135 million construction loan to fund the development of the new warehouse facility. The loan was provided by Affinius Capital and Bank OZK. The equity commitment originated from DECA’s principals and Wildcat Capital Management.