AMARILLO, TEXAS — Marcus & Millichap has negotiated the sale of I-40 Storage, a 396-unit storage facility in Amarillo. Built in 2003 on 11.5 acres, roughly 1.9 of which are undeveloped, the facility spans 199,905 net rentable square feet across 353 covered parking spaces, eight enclosed spaces, 10 open parking spaces and 25 self-storage units. Mixson Staffel, Dave Knobler and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The Michigan-based buyer also requested anonymity.
SIGNAL HILL, CALIF. — DRA has completed the sale of Signal Hill Commerce Center, a portfolio of three industrial properties spread across four buildings in Signal Hill. An out-of-state, high-net buyer acquired the portfolio for $24 million, or $268 per square foot. The properties are located at 2698 Junipero, 2300 Walnut and 2700 Rose avenues. Michael Longo, Eric Cox, Grant Goldman, Mark Shaffer, Anthony DeLorenzo and Brian Held of CBRE represented the seller, while Greg Grant and Pete Obradovich of CBRE’s Debt & Structured Finance organized the funding. Totaling 89,438 square feet on 4.3 acres, the portfolio is 87 percent leased to 46 tenants with unit sizes ranging from 1,250 square feet to 4,176 square feet. All four buildings feature a 24-foot clear height and between 12 and 20 ground-level doors.
NILES, ILL. — JLL Capital Markets has arranged the sale of a 314,000-square-foot FedEx Ground distribution facility located at 5959 W. Howard St. in Niles. Constructed in 2015 as a build-to-suit for FedEx Ground Package Systems Inc., the distribution center features a clear height of 32 feet, 101 dock doors, six drive-in doors and a fully automated material handling system with six-dimensional package scanning and sorting capabilities. The property includes 291,511 square feet of warehouse space, 14,937 square feet of office space, a 5,180-square-foot maintenance facility and a 2,400-square-foot guard building. There are 562 car parking spaces and 546 trailer parking spaces across the site along with a fueling station. The property includes an additional 11.2 acres of land that FedEx currently utilizes for trailer and auto parking. FedEx has operated from the facility since June 2015.
WOBURN, MASS. — Denver-based investment firm Sagard Real Estate has purchased a 66,970-square-foot warehouse located at 8 Roessler Road in Woburn, a northern suburb of Boston, for $17.8 million. The front-load building, which features a clear height of 24 feet, two dock-high doors and 55 car parking spaces, has housed the headquarters of Atlantic Plywood Corp. since 1987. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the seller, a joint venture between Oliver Street Capital and Bain Capital Real Estate, in the transaction.
EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has secured a 15,005-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, Tri-State Cleaning and Restoration, will occupy space at 906 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. Brian Wilson, also with RRNNJ, represented the tenant.
LEWISVILLE, TEXAS — A partnership between local developer Trammell Crow Co. and PGIM Real Estate has broken ground on Lake Vista Technology Park, a 316,333-square-foot industrial project that will be located in the northern Dallas suburb of Lewisville. The 20-acre site is located at the southwest corner of I-35 and State Highway 121, and the development will consist of three buildings that will range in size from 66,820 to 126,693 square feet. All three buildings will feature rear-load configurations and 32-foot clear heights. Alliance Architects is designing the project, and Peinado Construction is the general contractor. Halff is the civil engineer, and CBRE is the leasing agent. Comerica Bank is funding construction, which is expected to be complete in late 2026.
WHITSETT, N.C. — Mapletree Investments has signed Lenovo to a 520,583-square-foot industrial lease in Whitsett, a city near Greensboro in North Carolina’s Piedmont Triad region. The global tech manufacturer will fully occupy 6550 Judge Adams Road, a facility within the 1,400-acre Rock Creek Center industrial park in Guilford County. The facility offers 509,393 square feet of warehouse space and an 11,190-square-foot office component. Lenovo will use the site to manufacture servers for data centers, while continuing operations at its nearby fulfillment center. Lenovo plans to invest $77 million into the project, which will create 420 new jobs. Greg Wilson of CBRE represented Mapletree, which owns the property under its Mapletree US Logistics Private Trust investment vehicle. Jason High and Dodson Schenck, also with CBRE, represented Lenovo in the lease negotiations.
DES PLAINES, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 10-acre site at 424 Howard Ave. in Des Plaines with plans to build a 171,600-square-foot industrial development. Located less than a mile from the Chicago O’Hare International Airport’s north cargo gate, the site sits within two miles of an I-90 four-way interchange. Construction is expected to commence this month. The project will include 35 docks, 136 auto parking spaces and 53 trailer parking spaces. Aaron Martell and Ben Fish of LogiPropCo worked with Tom Rodeno and Mike Senner of Colliers on the land acquisition. The Colliers duo will also serve as the leasing agents. Heitman Architects is the project architect, Jacob & Heffner is the civil engineer and Meridian Design Build is the general contractor. Completion is slated for late summer 2026.
OMAHA, NEB. — Investors Realty Inc. has brokered the sale of Old Mill Business Campus in Omaha for $8.3 million. Located just off the West Dodge Road and I-680 interchange, the 66,273-square-foot, multi-tenant flex building was fully occupied at the time of sale. Ember Grummons and JP Raynor of Investors represented the seller, NewStreet Properties. Nick Suarez of Newmark Zimmer represented the buyer, K.C. Residence LLC.
By David Hodge and Tom Nickols, NAI Pfefferle While the national headlines often focus on trends such as rising vacancies and cooling rent growth, Milwaukee and its surrounding metros are telling a different story. Here resilience defines the market, and in some cases, opportunities are emerging due to our strategic location, balanced development and supportive business climate. Rate cuts change landscape The Federal Reserve’s recent rate cuts have altered the investment landscape. For the first time in years, capital markets are starting to unlock. Lower borrowing costs are already sparking new conversations with investors who had been sitting and waiting on the sidelines. This adjustment matters. Refinancing options are improving for property owners, development projects are resurfacing after being shelved for high financing costs and capital is beginning to flow again. For occupiers, rate cuts also open doors. Lower borrowing costs for developers encourage new construction and tailored build-to-suit options. This ultimately expands the range of available facilities and results in a healthier environment where tenants can negotiate from a position of choice rather than constraint. While many national markets remain hampered by an oversupply of speculative space, Milwaukee’s pipeline positions it for long-term strength compared to its peers. Local …
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