ATLANTA — Atlanta-based investment and development firm MDH Partners has received $195.9 million in financing for a portfolio of seven industrial buildings totaling approximately 1.6 million square feet, three of which are located in the northern Dallas metro of Carrollton. The other four buildings are located in Salt Lake City, Chino, Calif. and Murfreesboro, Tenn. Capital One provided the financing. The portfolio was 91 percent leased at the time of sale.
LOCKPORT, ILL. — Core Industrial Realty has arranged the sale of a 120,000-square-foot industrial building in Lockport. The single-tenant building is fully leased to a company in the specialty plastics industry. Constructed in 2000, the property features 8,000 square feet of office space, 11 exterior loading docks, ceiling heights of 26 and 30 feet, over 5,000 amps of power a heavy crane system throughout. Matthew Lee and Nick Krejci of Core represented the buyer, TradeLane Properties.
By Jesse Tollison, Transwestern When analyzing the Minneapolis-St. Paul (MSP) metro area, urbanicity plays a deep role in understanding the opportunities for making a significant impact and profit in the commercial real estate markets. This is not a story unique to Minnesota’s largest metropolitan area, where roughly half of the state’s inhabitants live, but MSP serves as an illuminating case study as to how widely opportunity can vary between urban and suburban markets. Indeed, many areas across the country exhibit stark differences between their urban and suburban commercial real estate markets, but those differences cannot be uniformly applied to each metro. The qualitative and quantitative analysis of local minutiae lends tremendous insight when evaluating opportunities. Developers, investors, tenants, brokers and every other player in the commercial real estate world are paying close attention to the diverging urban and suburban trends as they assess the market for opportunities. In such a fragmented market, decision-makers are using more data than ever to inform their strategies. High-level views aren’t enough to benchmark a property’s performance, and it’s important to understand the localized trends when evaluating an opportunity. Industrial history As the historical industrial hub of Minnesota, the Twin Cities’ urban core has many …
RICHMOND, VA. — A joint venture between Lingerfelt and Partners Group has sold a nearly 1.2 million-square-foot industrial portfolio in metro Richmond for $175 million. JLL represented the joint venture in the transaction. The buyer was not disclosed. The portfolio includes three buildings within Walthall Distribution Center in South Chesterfield, Va., and one building within Northlake Distribution Center in Ashland, Va. Lingerfelt and Partners Group acquired the portfolio in March 2023 for $105.6 million, with Partners Group as the majority investor in the joint venture. The partnership invested $9 million in capital improvements into the portfolio and executed 875,000 square feet of new leases and lease renewals during its ownership period. Range Commercial Partners previously handled property management and leasing for the portfolio, which was fully leased at the time of sale.
HUDSON, MASS. — Local owner-operator National Development has received approval from the Town of Hudson, located west of Boston, for a 950,000-square-foot industrial conversion project. The 148-acre site at 75 Reed Road, which is located less than two miles from I-495 with direct access to the I-290 interchange, formerly housed the campus of chipmaker Intel. National Development acquired the property, which can support advanced manufacturing as well as warehouse and logistics uses, in late 2023. Construction is expected to commence upon National Development’s securing of an occupant.
MERIDEN, CONN. — UniUni Logistics Inc. has signed a 43,104-square-foot industrial lease in Meriden, located roughly midway between Hartford and New Haven. The space is located within the 119,775-square-foot building at 45 Gracey Ave. Mark Berkowitz of local brokerage firm O,R&L Commercial represented the landlord in the lease negotiations. Damon Bowers of Cushman & Wakefield represented UniUni Logistics.
HENDERSON, NEV. — LaPour has broken ground on Black Mountain Commerce Center, a Class A industrial condominium project in Henderson. Located at 835 W. Warm Springs Road, the 146,000-square-foot facility will offer for-sale units ranging from 21,125 square feet to full-building opportunities. Black Mountain Commerce Center will features a clear height of 28 feet, dock-high and grade-level loading, ESFR fire sprinkler systems, R-38 insulation, HVAC-ready warehouse with LED lighting and 4,000 amp, 277/480-volt, 3-phase power. The development will include 166 parking spaces, 16 EV-capable stalls and outdoor tenant amenity areas with access to nearby hiking and biking trails. Sean Zaher and Tyce O’Neill of CBRE are handling leasing and marketing for the project.
LIBERTY, MO. — Metrobloks, a developer of AI-ready, low-latency data center infrastructure in major metropolitan markets, has formed a joint venture with Lincoln Property Co., a full-service real estate firm with an established data center platform. The partnership will focus on the co-development of a high-performance data center campus in Liberty within metro Kansas City. The newly acquired site totals 30 acres and is already zoned and powered for data center use. It sits within 10 miles of the GPC Missouri Internet Exchange Point. Plans call for a multi-phase, 568,000-square-foot campus designed to support hyperscale, AI and enterprise data center workloads, with flexibility to scale over time beyond the initial 150MW total utility power.
DELANCO, N.J. — Colliers has negotiated the sale of an 865-unit self-storage facility in Delanco, located outside of Philadelphia in Southern New Jersey. Extra Space Storage operates the facility at 700 Creek Road, which was originally constructed in 1989 and converted to self-storage use in 2021. Today, the facility spans 105,187 net rentable square feet across 766 climate-controlled units and 99 covered and uncovered parking spaces. Tom de Jong, Dylan de Jong and Ian Richman of Colliers represented the seller, Metropolis Development Group, in the transaction and procured the buyer, Merit Hill Capital.
SAVANNAH, GA. — Affinius Capital has originated a $70.2 million loan for the refinancing of Terminal East, a two-building industrial property in north Savannah spanning 915,000 square feet. John Rose and Bobby Norwood of JLL arranged the loan on behalf of the borrower, a fund advised by Crow Holdings Capital. Additional terms of the financing were not released. Situated near the Port of Savannah and the I-95/I-16 corridor, Terminal East comprises a 180,000-square-foot facility with 32-foot clear heights and a 735,000-square-foot facility with 36-foot clear heights. Combined the buildings feature 231 trailer stalls and 198 dock-high doors.
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