Saturday, April 27, 2024
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DevelopmentGeorgiaIndustrialSoutheast

Brightmark to Develop $950M Recycling Facility in Central Georgia

by John Nelson

THOMASTON, GA. — Brightmark LLC, a recycling solutions company based in San Francisco, has announced plans for a $950 million recycling facility project in Thomaston, about 65 miles south of Atlanta. Upon completion, the “circularity center” will comprise 2.5 million square feet with the capacity to repurpose 400,000 tons of plastic per year. According to the company, the project will create 200 advanced manufacturing jobs in the central Georgia area. Plans include a $20 million investment in additive infrastructure in Thomaston, with upgrades to utilities, roadway improvements, rail access extensions and other improvements.

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Affordable HousingDevelopmentGeorgiaLife SciencesMixed-UseMultifamilySoutheast

Trammell Crow, GATV Complete Phase I of Mixed-Use Science Square Development in Atlanta

by John Nelson

ATLANTA — Trammell Crow Co. (TCC) and Georgia Advanced Technology Ventures (GATV) — an affiliate of the Georgia Institute of Technology (Georgia Tech) — have completed construction of the first phase of Science Square, a mixed-use development situated adjacent to the Georgia Tech campus in Atlanta. Comprising 18 acres, the development features Science Square Labs, a life science building, and The Grace, a 14-story residential tower. Perkins + Will designed Science Square Labs, which totals 368,258 square feet and features lab and clean-up space. The 13-story building features a 38,000-square-foot solar panel array on top of the parking garage and 22 electric vehicle charging stations. Amenities at the property include a fitness center, conference space and private meeting rooms, and a tenant lounge and event space dubbed The Commons that features a 16,000-square-foot sky deck on the fifth floor. Portal Innovations has signed a 33,000-square-foot lease as the first tenant at the property, which includes 33,136 square feet of pre-built speculative lab and office suites, as well as space for custom-built units. The Grace, designed by Rule Joy Trammell + Rubio, comprises 280 units with a mix of market-rate and affordable residences. Amenities include a bike room, club room, outdoor …

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DevelopmentIndustrialNorth CarolinaSoutheast

Johnson Brothers Breaks Ground on 625,000 SF Industrial Facility in Garner, North Carolina

by John Nelson

GARNER, N.C. — Johnson Brothers Mutual Distributing, a wine and beer distributor, has broken ground on a 625,000-square-foot industrial building in Garner, a southern suburb of Raleigh. Upon completion, the property will feature 40-foot clear heights with dock-high, drive-in doors and trailer parking. Johnson Brothers plans to relocate and occupy 420,000 square feet at the development in early 2026. Jim Allaire and Alexis Lambeth of Foundry Commercial will lease the remaining 205,000 square feet. LS3P designed the project, and Evans is the general contractor, with DCI serving as project manager.

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AcquisitionsFloridaHealthcareSoutheast

Marcus & Millichap Arranges $13.2M Sale of Medical Office Property in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — Marcus & Millichap has arranged the $13.2 million sale of a medical office property located at 13813 Metro Parkway in Fort Myers. Constructed in 2006, the building totals 38,404 square feet. Alex Sacks, Brett Rodgers and Frank Roti of Marcus & Millichap represented the seller, a private limited liability partnership, in the transaction. The buyer was also not disclosed.

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Leasing ActivityLouisianaRetailSoutheast

Three Abercrombie & Fitch Co. Concepts to Open at Lakeside Shopping Center in Metro New Orleans

by John Nelson

METAIRIE, LA. — Three new tenants, all divisions of Abercrombie & Fitch Co., will open at Lakeside Shopping Center, a 1.2 million-square-foot retail center located in Metairie, roughly eight miles outside of downtown New Orleans. Abercrombie & Fitch, abercrombie kids and Hollister Co. are scheduled to open at the property this summer. The stores will feature updated prototype formats for the respective brands. Abercrombie & Fitch Co. operates more than 750 stores under these banners throughout North America, Europe, Asia and the Middle East.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 564-Unit Self-Storage Facility in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — Marcus & Millichap has brokered the sale of Lakeridge Self Storage, a 564-unit facility located in the southern Dallas suburb of Midlothian. The property, which totals 59,517 net rentable square feet, was built in 2005 and expanded by roughly 20 percent in recent years. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor, in the deal. The duo also procured the buyer, an Austin-based investment group that plans to renovate the facility.

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35-Beltway-Business-Park-Houston
IndustrialLeasing ActivityTexas

CBRE Negotiates 273,480 SF Industrial Lease in Southeast Houston

by Taylor Williams

HOUSTON — CBRE has negotiated a 273,480-square-foot industrial lease within Beltway 35 Business Park in southeast Houston. The tenant, global shipping and logistics firm Wallenius Wilhelmsen, is taking space at Building 2, a cross-dock facility that features 48 dock doors and parking for 245 cars and 72 trailers. Quinten Davis and Hoan Le of CBRE represented the tenant in the lease negotiations. JLL represented the landlord, Greystar Real Estate Partners.

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SouthTech-Business-Center-Austin
AcquisitionsIndustrialTexas

KBS Sells 260,112 SF Light Industrial Property in South Austin

by Taylor Williams

AUSTIN, TEXAS — California-based investment firm KBS has sold SouthTech Business Center, a 260,112-square-foot light industrial property in South Austin. SouthTech Business Center consists of four buildings on a 20.2-acre site. Each building features 21-foot clear heights and 145-foot truck court depths. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented KBS in the transaction. MIG Real Estate represented the buyer, an undisclosed 1031 exchange investor. The property was 93 percent leased at the time of sale.

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DevelopmentIndustrialSelf-StorageTexas

Storage King USA Completes 232-Unit Self-Storage Expansion Project in Argyle, Texas

by Taylor Williams

ARGYLE, TEXAS — Storage King USA, the self-storage arm of New York City-based investment firm Andover Properties, has completed a 232-unit expansion of its facility in Argyle, located in Denton County. The project added 38,500 net rentable square feet of climate-controlled and non-climate-controlled space, as well as 5,750 square feet of flex space. The facility, which also offers enclosed and covered storage options for boats and RVs, now totals 865 units.

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IndustrialLeasing ActivityTexas

Oxford Partners Arranges 32,000 SF Industrial Sublease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has arranged a 32,000-square-foot industrial sublease in northwest Houston. According to LoopNet Inc., the property at 5910 North by Northwest Blvd. was built in 1998 and totals 96,000 square feet. Austen Buckalew and Matt Rogers of Oxford Partners represented the tenant, SiYi America Hardware LLC, in the lease negotiations. The name and representative of the landlord were not disclosed.

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