RICHARDSON, TEXAS — Newline Interactive Inc., a manufacturer of corporate interactive displays, has signed a 48,160-square-foot industrial lease at Parc Northeast, a 434,640-square-foot industrial development located in the northeastern Dallas suburb of Richardson. Josh Barnes of Holt Lunsford Commercial represented the landlord, Jackson-Shaw, in the lease negotiations. Parc Northeast, a newly built speculative property, is now 50 percent leased.
RIALTO, CALIF. — Reno, Nev.-based Dermody Properties has completed the construction of LogistiCenter at Rialto I, Building 4, located at 1642 W. Miro Way in Rialto. Situated on 19 acres within the Inland Empire West Industrial Market, the asset is now available for lease. The 411,330-square-foot distribution facility features 36-foot clear heights, 2,363 square feet of office space, 244 auto parking stalls, 75 trailer stalls, LED warehouse fixtures and an ESFR fire protection system. The property is located within Renaissance Rialto Business Park with immediate access to interstates 210, 15 and 215. Dan de la Paz, David Consani and Jim Koenig of CBRE are the leasing agents for the facility.
HOUSTON — NAI Partners has arranged a 13,400-square-foot industrial lease renewal at 1499 N. Post Oak Road in Houston for Niche Importing Group LLC. The company specializes in matching U.S. wholesalers and retailers with Asian manufacturers. The property, which is located on the city’s northwest side and was recently renovated, features 16-foot clear heights. Shaffer Braun of NAI Partners represented the undisclosed landlord in the lease negotiations.
BROWNSBURG, IND. — JLL Capital Markets has arranged the sale of Eaglepoint Six, a new Class A industrial facility totaling 690,702 square feet in Brownsburg, located about 17 miles northwest of Indianapolis. The building is fully leased to Radial Inc., an e-commerce company that provides order management, payment processing, fulfillment and analytics services. Built in 2019, Eaglepoint Six features a clear height of 36 feet, four drive-in doors, 52 dock-high doors and office space. It is part of the fully leased Eaglepoint Business Park. John Huguenard, Ed Halaburt, Jake Sturman, Sean Devaney, Kurt Sarbaugh and Robin Stolberg of JLL represented the seller, a partnership between Washington Capital Management on behalf of a client and Becknell Industrial. Denver-based Black Creek Group purchased the asset.
By Lynette Reichle, Reichle Klein Group On March 12, Ohio’s governor declared a state-wide order closing schools and gatherings of over 100 people. On March 15, he ordered all bars and restaurants to close dining rooms (but could maintain carryout and delivery) with further closings on almost a daily basis. Finally, the stay-at-home order came on the 22nd. As of the writing of this article, it is difficult to estimate the full effects of the COVID-19 pandemic and what the moves our government has taken to protect us will have on our real estate markets. Prior to the spread of the coronavirus, Toledo’s industrial real estate market had been running at unprecedented high levels in both leasing activity and new development for the past several years. While the beginning of this year was decidedly quiet compared with the fourth quarter of 2019, we had every reason to expect strong demand for industrial properties through the remainder of 2020. In fact, the Toledo market still suffers from an inventory problem; virtually every project that was built last year was a build-to-suit. Local and regional developers have yet to develop enough of an appetite to build speculatively. Further, no one in the …
CARROLLTON, TEXAS — JLL has negotiated the sale of Valwood Crossroads, a two-building, 618,052-square-foot industrial park located in the northern Dallas suburb of Carrollton. Built in 2019, the property features a cross-dock building and a rear-load building with clear heights ranging from 32 to 36 feet. Both buildings also feature deep truck courts and ESFR sprinkler systems, and are leased to Smith System Manufacturing Co., a provider of furniture for schools. Stephen Bailey and Dustin Volz of JLL represented the seller and developer, Atlanta-based Core5 Industrial Partners, in the transaction. Denver-based investment firm Black Creek Group purchased the asset for an undisclosed price.
STREETSBORO, OHIO — NAI Pleasant Valley has arranged the sale of a 31,237-square-foot industrial building in Streetsboro, about 30 miles south of Cleveland. The sales price and seller were undisclosed. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented both parties in the sale. Natural Essentials Inc., a manufacturer of hand sanitizer and various over-the-counter drug products, was the buyer. This is the Aurora, Ohio-based company’s fourth building.
MILPITAS, CALIF. — New York City-based Empire State Group has purchased a fully leased R&D facility, located at 1564 Barber Lane in Milpitas. A joint venture between affiliates of Westport Capital Partners and Cannae Partners sold the asset for $41.1 million. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented the buyer and seller in the deal. Situated on 5.5 acres within Oak Creek Business Park, the asset features 102,668 square feet of research and development space. The facility was originally developed in 1980, but underwent significant improvements in 1996, 2009 and 2019.
OGDEN, UTAH — Monmouth Real Estate Investment Corp. has purchased a LEED-certified industrial property, located at 985 W. Kershaw St. in Ogden, for $12.9 million. The name of the seller was not released. Federal Express Corp., a Delaware corporation, occupies the asset on a 15-year, net-lease basis. The 69,734-square-foot industrial property is situated on 7.5 acres.
AURORA, COLO. — CBRE has negotiated the sale of a distribution facility located at 15800 E. 40th Ave. in Aurora, about 10 miles east of Denver. Serta Simmons Bedding sold the property to Dallas-based Dalfen Industrial for $7.1 million. Built in 2003 for Serta’s own operations, the 75,000-square-foot building features a fenced, secure loading area, ESFR sprinklers, dock-high and drive-in loading, 24-foot clear heights, radiant heat throughout, mechanical pit levelers, dock lights and seals, skylights and an air exchange system. Additionally, the facility features 6,500 square feet of office space. Todd Witty and Doug Viseur of CBRE’s Denver office represented the seller in the transaction.