RICHARDSON, TEXAS — Lee & Associates has negotiated a 12,159-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 1601-1651 N. Glenville Drive was constructed in 1984 and totals 40,122 square feet. Jessica Reinhardt and George Tanghongs of Lee & Associates represented the tenant, archaeological services firm AR Consultants Inc., in the lease negotiations. Mark Aston and Mike Fay of Maverick Commercial Real Estate represented the landlord, Technology Properties LLC.
CRYSTAL LAKE, ILL. — Thinnes Transport Inc. has renewed its 91,267-square-foot industrial lease at 450 Congress Parkway in the Chicago suburb of Crystal Lake. John Joyce, Kenneth Franzese and John Cassidy of Lee & Associates represented the tenant, which is a family-owned freight transportation and logistics company. Dan Jones of Entre Commercial Realty represented the landlord, STAG Industrial Holdings.
ELK GROVE VILLAGE, ILL. — Logisteed America Inc., a provider of transportation and logistics services, has renewed its 106,100-square-foot industrial lease at 2551-2561 Allan Drive in the Chicago suburb of Elk Grove Village. Kenneth Franzese and John Cassidy of Lee & Associates represented the tenant. Jonathan Kohn and Chris Volkert of Colliers represented the landlord, LaSalle Investment Management.
DALLAS — Sow Good Inc. has signed a 51,264-square-foot industrial lease in West Dallas. The provider of freeze-dried food products will occupy the entirety of Building 10 at Stemmons Industrial Center, which features a front-load configuration and 25-foot clear heights. Garrison Efird, Jim Cooksey and Dalton Jernigan represented the tenant in the lease negotiations. Lee & Associates represented the landlord, Prologis.
DALLAS — Lee & Associates has negotiated a 33,333-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 4811 Lakawana St. was built in 1986 and totals 50,000 square feet. Stephen Williamson of Lee & Associates represented the landlord, Texas-based Stonelake Capital Partners, in the lease negotiations. Lena Pierce and Ryan Boozer of Stream Realty Partners represented the tenant, Glasshouse Products.
DALLAS — Lee & Associates has negotiated a 21,136-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the building at 2616 Willowbrook Road was built in 1994 and totals 49,636 square feet. Stephen Williamson of Lee & Associates represented the tenant, Greenpath Mail Operations, in the lease negotiations. Nathan Denton, also with Lee & Associates, along with Brett Owens and Jack Brewer of Transwestern, represented the landlord, an entity doing business as Warehouse Development Ltd.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated the sale of a 50,566-square-foot industrial building in Grand Prairie, located roughly midway between Dallas and Fort Worth. According to LoopNet Inc., the single-tenant building at 1922-1938 N. Great Southwest Parkway was built on 2.1 acres in 1981 and features 18-foot clear heights and 16 exterior dock doors. Colton Rhodes of Lee & Associates represented the buyer, Texas-based investment firm Stonelake Capital Partners, in the transaction. The seller and sales price were not disclosed.
DALLAS — Lee & Associates has brokered the sale of a 9,800-square-foot industrial building in West Dallas. According to LoopNet Inc., the single-tenant building at 9101 Sovereign Row was originally constructed in 1957. Stephen Williamson of Lee & Associates represented the undisclosed seller in the transaction. Turner Peterson of Mercer Co. represented the buyer, Apel Construction Services.
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Is a Rebound in the Cards for Investment Sales Anytime Soon?
Would-be commercial real estate investors and sellers for the last several months have been waiting for a sign that the Federal Reserve has tamed inflation, therefore giving the central bank reason to officially end its tightening program. October’s better-than-expected consumer price index increase of 3.2 percent — versus the 3.3 percent consensus — may have delivered that signal. The futures markets immediately reduced the probability of a Fed interest rate hike in December to zero, with many capital markets analysts suggesting that it would begin to cut rates midway through 2024. But just an end to rate hikes could fuel investment sales activity, says Jeff Rinkov, CEO of Lee & Associates Commercial Real Estate Services. “Once investors see some positive sentiment from the Fed, I think they’ll start to get interested in deploying what we believe is an enormous amount of capital that has been waiting on the sidelines,” he explains. “I also think that’s when investors will be met by more accommodating sellers. At the moment, price discovery continues to be very challenging and is driving a sluggish transaction environment.” Crashing Sales Indeed, investment sales volume through three quarters of 2023 totaled $276.3 billion, a year-over-year decline of 55 …
ARLINGTON, TEXAS — Lee & Associates has negotiated a 33,239-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 2019-2025 Meridian St. was built on 3.4 acres in 1980, totals 71,973 square feet and features 22-foot clear height and 13 exterior dock doors. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Chicago-based ML Realty Partners, in the lease negotiations. Adam Curran of Cushman & Wakefield represented the tenant, Centurion Service Group, a platform that connects buyers and sellers of medical equipment.