Thursday, November 21, 2024
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Industrial

Realterm-NIT-Industrial-El-Paso
DevelopmentIndustrialTexas

Realterm, NIT Industrial to Develop 452,966 SF Industrial Project in El Paso

by Taylor Williams

EL PASO, TEXAS — A partnership between Maryland-based investment firm Realterm and Houston-based NIT Industrial will develop a 452,966-square-foot industrial project in El Paso. The development will comprise a 125,843-square-foot rear-load building with 32-foot clear heights and a 327,123-square-foot cross-dock building with 36-foot clear heights. The buildings, which will be situated on a 31.2-acre site, will be able to support a single or multiple users and will also offer a combined 134 docking doors and 165 trailer parking stalls. Construction is expected to last about a year.

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IndustrialLeasing ActivityTexas

Mars Shipping Service Signs 43,475 SF Industrial Lease in Katy, Texas

by Taylor Williams

KATY, TEXAS — Freight and logistics firm Mars Shipping Service has signed a 43,475-square-foot office lease in the western Houston suburb of Katy. The property at 21331 Clay Road is located within Bridgewater Commerce Center. Garret Geaccone, Boone Smith and Abraham Richardson of Stream Realty Partners represented the landlord, Harbor Capital, in the lease negotiations. Rodney Henson of TopSky Realty Texas represented the tenant.

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AcquisitionsData CentersDevelopmentIndustrialSoutheastVirginia

PRP Sells Northern Virginia Data Center Campus to Iron Mountain for $113.5M

by John Nelson

MANASSAS, VA. — PRP has sold Manassas Point, a 40-acre data center development site in Northern Virginia’s Prince William County. Data center developer Iron Mountain Inc. purchased the site, which was assembled by PRP between 2022 and 2023 and zoned for heavy industrial, for $113.5 million. Plans at Manassas Point call for a 1.1 million-square-foot data center campus with a 300-megawatt substation. PRP had previously gotten county approval for a three-story design for the data center property and worked with NOVEC (Northern Virginia Electric Cooperative) and Dominion Power on the utilities for the campus. Manassas Point is situated within close proximity to Iron Mountain’s existing data centers in Prince William County.

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AcquisitionsCaliforniaIndustrialWestern

JLL Negotiates Sale of Two Industrial Buildings in American Canyon, California

by Amy Works

AMERICAN CANYON, CALIF. — JLL Capital Markets has negotiated the sale of two industrial buildings totaling 1.3 million square feet of Class A space within Napa Logistics Park in American Canyon. A global investment advisor sold the asset to EQT Exeter for an undisclosed price. The assets include: Ryan Sitov, Melinda Marino, Glen Dowling, Matt Bracco and Chris Neeb of JLL Investment Sales and Advisory represented the seller in the deal.

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Phoenix-Airport-Logistics-Phoenix-AZ.jpg
AcquisitionsArizonaIndustrialWestern

INDUS Realty Trust Buys 393,484 SF Phoenix Airport Logistics Facility

by Amy Works

PHOENIX — INDUS Realty Trust has purchased Phoenix Airport Logistics, a Class A warehouse and distribution building in Phoenix’s airport submarket. Located at 3333 S. 7th St., the 393,484-square-foot cross-dock facility offers a clear height of 36 feet, 96 dock-high doors and 62 trailer parking spaces. At the time of sale, the property was fully leased to five tenants. The asset was built in 2016. Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group facilitated the transaction as the exclusive real estate brokers.

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AcquisitionsIndustrialNew JerseyNortheast

Dora’s Naturals Buys Industrial Property in Moonachie, New Jersey, for $20.9M

by Taylor Williams

MOONACHIE, N.J. — Dora’s Naturals, a distributor of perishable food-and-beverage products, has purchased a 70,680-square-foot industrial property in the Northern New Jersey community of Moonachie for $20.9 million. The building at 80 Knickerbocker Road was originally constructed in 1985 and renovated in 2022, according to LoopNet Inc. Kevin Dudley, Nicholas Klacik, Chad Hillyer, Kate Granahan, Brian Fiumara, Elli Klapper and Jeremy Wernick of CBRE represented Dora’s Naturals, which also recently purchased a 105,000-square-foot industrial building in Moonachie, in the transaction. KBC Advisors represented the seller.

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AcquisitionsIndustrialTexas

JLL Arranges Sale of 458,439 SF Industrial Park in Northeast San Antonio

by Taylor Williams

SAN ANTONIO — JLL has arranged the sale of Eisenhauer North Business Park,a 458,439-square-foot industrial park in northeast San Antonio. Completed in mid-2023, the development comprises three buildings that range in size from 119,200 to 186,324 square feet. Building features include 32-foot clear heights, 109 total dock-high doors, six drive-in doors and aggregate parking for 163 trailers and 330 cars. NIT Industrial sold the property to Goldman Sachs for an undisclosed price. Trent Agnew, Kyle Mueller, Witt Westbrook and Charles Strauss of JLL brokered the deal.

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IndustrialLoansNew JerseyNortheast

PGIM Real Estate Provides $129.1M Loan for Refinancing of Southern New Jersey Industrial Property

by Taylor Williams

CINNAMINSON, N.J. — PGIM Real Estate has provided a $129.1 million loan for the refinancing of Box Park Logistics Center, a 1.2 million-square-foot industrial property located in the Southern New Jersey community of Cinnaminson. The development currently comprises a single building that can be expanded by 300,000 square feet. Building features include a clear height of 40-feet, four drive-in doors, 188-foot truck court depths, an ESFR sprinkler system and parking for 549 cars and 216 trailers. Both parking figures are also subject to expansion. The borrower is Chicago-based Logistics Property Co.

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DevelopmentIllinoisIndustrialMidwest

Principle Construction Renovates Warehouse for SMW Autoblok in Wheeling, Illinois

by Kristin Harlow

WHEELING, ILL. — Principle Construction has completed Phase I of a renovation project for SMW Autoblok in Wheeling. This initial phase prepares the facility for a future expansion encompassing office and warehouse space. Principle previously completed a significant expansion for the tenant at the same address in 2008. SMW Autoblok, a manufacturer of turning and grinding machine tools, is implementing an automated parts picking system with the Kardex system. Phase I of the project involved constructing a walled enclosure for the Kardex system, a new shipping office and a pump room. The next phase will add a new showroom, main conference room and general office upgrades. Partners in Design was the project architect.

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DelawareIndustrialLeasing ActivityNortheast

Law Firm Signs 13,918 SF Office Lease in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Law firm Heyman Enerio Gattuso & Hirzel LLP has signed a 13,918-square-foot office lease in Wilmington, Del. The space is located within PNC Bank Center in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Cindy Fleming of JLL represented the tenant, which is taking space on the ninth floor of the newly renovated building.

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