LA PORTE, TEXAS — Prologis has broken ground on a 229,227-square-foot industrial project in La Porte, an eastern suburb of Houston. The project will add two buildings totaling 120,013 and 109,214 square feet to Port Crossing Commerce Center, bringing the development’s total footprint to approximately 2.7 million square feet across 11 buildings. The buildings will be situated on a combined 17 acres with frontage along State Highway 146. Construction is expected to be complete before the end of the year.
WINDSOR, VA. — Cushman & Wakefield | Thalhimer has negotiated the sale of a former Keurig Dr Pepper (KDP) roasting plant located at 25400 Old Mill Road in Windsor, approximately 11 miles southeast of Suffolk. Schenley Investments purchased the 348,107-square-foot industrial/manufacturing building from KDP for $20.2 million. While the facility previously served as a processing and distribution facility for Keurig coffee pods, Schenley will now be investing capital to renovate and rebrand the property as the Virginia Trade Center. Geoff Poston and Brett Sain of Cushman & Wakefield | Thalhimer represented the buyer in the transaction. KDP, the beverage manufacturer that produces the Dr Pepper and Snapple brands and single-serve K-cups used in Keurig coffeemakers, announced the closure of the Windsor plant two years ago.
PADUCAH, KY. — An affiliate of Phoenix Investors has purchased a 334,772-square-foot industrial facility located at 7845 Carneal Road in West Paducah. The seller and sales price were not disclosed. Originally constructed in 1966, the facility sits on roughly 29 acres and includes 25-foot clear heights, seven dock doors, 13 drive-in doors and expansive yard and parking areas within a fully fenced property. The building can accommodate manufacturing, distribution and bulk logistics users and offers flexible warehouse space. The industrial facility is also located near the “Triple Rail” site, which is an 800-acre industrial park that features direct access to three major rail lines including Paducah & Louisville Railway (P&L), Canadian National (CN) and BNSF Railway. In addition to rail connectivity, West Paducah sits at the confluence of the Ohio, Tennessee, Cumberland, and Mississippi rivers, making it a major inland shipping gateway. Phoenix Investors plans to further modernize and reposition the property for modern industrial users with upgrades like LED lighting, new exterior paint, parking lot improvements, dock upgrades and white-boxing portions of the building, as well as additional site enhancements designed to improve operational efficiency.
MESA, ARIZ. — Gantry has secured an $18 million permanent loan as construction takeout financing following the development and lease-up of Gateway Quads, an industrial park in Mesa. Located at 8150 E. Germann Road, the four-building, multi-tenant asset features 122,720 leasable square feet. The 30,680-square-foot buildings are each divisible to 7,600 square feet with 24-foot clear heights, truck well and grade-level loading, 1,200 amps of 480V and secured by 180-foot truck courts. Tim Storey, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor. The 10-year, nonrecourse, fixed-rate loan was provided by one of Gantry’s correspondent insurance company lenders. The loan features partial-term interest-only payments transitioning to 30-year amortization. Gantry will service the loan for its correspondent.
GREENFIELD, IND. — Colliers has brokered the sale of 70 Connect II, a 554,228-square-foot distribution facility in Greenfield within the Indianapolis Mount Comfort submarket. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Cam Kucic and Korey Ryan of Colliers represented the seller, Lauth Group Inc. Delivered in 2022, the property is fully leased to Yusen Logistics, a global third-party logistics provider and wholly owned subsidiary of Nippon Yusen Kabushiki Kaisha. The facility features a clear height of 36 feet, 60 dock-high doors, four drive-in doors, a 140-foot truck court and trailer and automobile parking. The buyer was Hillwood.
NEENAH, WIS. — NAI Pfefferle has negotiated the sale of a 192,120-square-foot industrial building in Neenah along Lake Winnebago. The sales price was undisclosed, but the asking price was $14 million. Jonathan Glassco of NAI Pfefferle represented the seller.
DALLAS — Locally based investment firm Dalfen Industrial has acquired a portfolio of 19 industrial properties totaling approximately 1.4 million square feet, the majority of which (13) are located in the Dallas area. The sales price was $207.5 million. The other six properties are scattered across Midwestern markets, including Chicago, Cincinnati and Indianapolis. The Dallas properties are located in submarkets such as Plano, Valwood and the Great Southwest. The portfolio was 93 percent leased to 48 tenants at the time of sale. Jack Fraker, Dom Espinosa and Travis McEldowney of Newmark represented the seller, Mapletree, a development and investment firm based in Singapore, in the transaction.
POWAY, CALIF. — Realty Income has purchased a light industrial and manufacturing facility, located at 13100 Danielson St. in Poway, for $43.3 million. Hunter Rowe, Brian Russell, Michael Longo and Matt Carlson of CBRE represented the undisclosed seller in the deal. Situated on 7.2 acres, the 133,844-square-foot building features nine dock-high doors, 11 grade-level doors, a secure truck court and a loading area. At the time of sale, the property was fully leased to a manufacturer specializing in corrugated boxes and packaging solutions.
REDMOND, ORE. — A partnership between Portland, Ore.-based Ethos Development and San Diego-based Alpine Capital Investments has acquired Redmond Industrial Park, an industrial asset situated on 45 acres in Redmond. Terms of the transaction were not disclosed. The 200,000-square-foot property consists of four industrial buildings and approximately 26 acres of excess land with development potential. At the time of sale, the asset was fully leased to a variety of regional and national tenants, including BasX Solutions and Old Dominion Freight Line. The property team includes KCB Private Equity as capital partner, Ethos Commercial Advisors as debt broker, Meritus Property Group as property manager and Fratzke Commercial as investment sales broker.
ELGIN, ILL. — Ames Watson, owner of global accessories retailer Claire’s Holdings LLC, has signed a 248,400-square-foot industrial lease at 1100 Tollgate Road in Elgin. Spence Mehl of RCS Real Estate Advisors and JLL’s Sam Brashler, Seth Geldzahler and Sharon Kariampuzha represented the tenant. High Street Logistics Properties LLC owns the building. Located approximately 40 miles northwest of downtown Chicago, the Elgin facility is designed for large-scale distribution operations and will support the broader efforts of Claire’s to modernize its logistics network, improve speed-to-store delivery and enhance omnichannel fulfillment capabilities, according to RCS.
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