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Industrial

CityNorth Industrial Park
AcquisitionsDevelopmentIndustrialTexas

Partnership Acquires Shuttered Mall in North Houston, Plans $150M Industrial Redevelopment

by Taylor Williams

HOUSTON — A partnership between Dallas-based Lincoln Property Co. (LPC) and New York Life Investment Management has acquired a shuttered mall in North Houston with plans to implement a $150 million industrial redevelopment. Greenspoint Mall first opened in the mid-1970s at the northeast corner of I-45 and Beltway 8 and closed about two years ago. The partnership plans to demolish the mall in the coming days and redevelop the 80-acre site with 1.2 million square feet of cross-dock and rear-load industrial buildings, along with retail and service uses. The new development, which will be known as CityNorth Industrial Park, is expected to be complete in early 2028. Powers Brown Architecture is the project architect. Kimley-Horn is the civil engineer, and E.E. Reed Construction is the general contractor. Warren Hitchcock of Northmarq advised LPC on the joint venture partnership with New York Life.

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IndustrialLeasing ActivityTexas

Cain Food Industries Signs 121,290 SF Industrial Lease in West Dallas

by Taylor Williams

DALLAS — Cain Food Industries Inc. has signed a 121,290-square-foot industrial lease in West Dallas. The wholesale supplier of baking ingredients is taking space at the building at 1107 Conveyor Lane, a 220,741-square-foot building that features 32-foot clear heights, 62 dock-high doors, 97 parking spaces and roughly 3,000 square feet of office space. Canon Shoults and Maddy Coffman of Holt Lunsford Commercial represented the tenant in the lease negotiations. Sarah Ozanne and Lena Thomas of Stream Realty Partners represented the landlord, Crow Holdings.

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AcquisitionsIndustrialTexas

CanTex Capital Buys 14,860 SF Warehouse in Haltom City, Texas

by Taylor Williams

HALTOM CITY, TEXAS — Local investment firm CanTex Capital has purchased a 14,860-square-foot warehouse in Haltom City, located north of Fort Worth. The building at 2504 Minnis Drive was constructed in 1978 and was vacant at the time of sale. CanTex plans to reposition the site to support industrial outdoor storage use. Luke Clardy of Bradford Commercial Real Estate Services represented CanTex in the transaction. The seller was Roadmaster Industries Inc.

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AcquisitionsColoradoIndustrialWestern

Brennan Investment Group Acquires 136,744 SF Industrial Property in Denver

by Amy Works

DENVER — Brennan Investment Group has purchased 5050 Ironton, an industrial building on 8.7 acres within Montbello Industrial Park in Denver’s northeast industrial submarket. Terms of the transaction were not disclosed. Originally constructed in 1970, the 136,744-square-foot concrete and masonry facility features 18- to 26-foot clear heights, 13 dock-high doors, four drive-in doors, potential rail service, heavy industrial zoning and excess acreage with secure outdoor storage. The property is fully leased to a building products distributor that has occupied the building since the early 2000s. The building can accommodate either a single tenant or a two-tenant configuration.

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Intermodal-Logistics-Center-West-Haslet
DevelopmentIndustrialTexas

Joint Venture Breaks Ground on 1 MSF Industrial Project in Haslet, Texas

by Taylor Williams

HASLET, TEXAS — A joint venture between Kansas City-based NorthPoint Development, Olympus Ventures and a local family partnership has broken ground on a 1 million-square-foot industrial project in Haslet, about 25 miles north of Fort Worth. The project represents Phase I of a larger development known as Intermodal Logistics Center West, which is planned to feature some 8.4 million square feet of space across nine buildings and 1,000 acres. Building 1 of Intermodal Logistics Center West will feature a cross-dock configuration, 40-foot clear heights, 100 dock doors, four oversized ramp doors and parking for 750 cars and 194 trailers (expandable to 404). CBRE is the building’s leasing agent.

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IndustrialLeasing ActivityTexas

MEI Rigging & Crating Signs 603,638 SF Industrial Lease in West Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — MEI Rigging & Crating has signed a 603,638-square-footindustrial lease in West Fort Worth. The space is located within West Worth Commerce Center, a newly constructed, 71-acre development that comprises 991,038 square feet across four buildings. David Cartwright and Charley Dickenson of Apex Industrial represented the tenant in the lease negotiations. Matt Carthey, Canon Shoults and Trey Goodspeed of Holt Lunsford Commercial represented the landlord, Forefront Commercial Real Estate, which developed the property in partnership with Ares Management.

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DevelopmentIndianaIndustrialMidwest

Venture One Breaks Ground on 1.2 MSF Distribution Facility for Amazon in Northwest Indiana

by Kristin Harlow

CROWN POINT, IND. — Venture One Real Estate has broken ground on a 1.2 million-square-foot build-to-suit distribution facility for Amazon at VenturePark 65 in Crown Point. The new facility will support Amazon’s distribution network across the Chicagoland and Northwest Indiana markets and is expected to create approximately 500 jobs. The project marks Chicago-based Venture One’s second development in Indiana. The project team includes Venture One as developer, Premier Design + Build Group as general contractor, Ware Malcomb as architect and Jacob & Hefner as civil engineer. Ryan O’Leary of KBC Advisors assisted Amazon in its site selection, and Brian Vanosky and Michael O’Leary of Lee & Associates represented Venture One.

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DevelopmentIllinoisIndustrialMidwest

Opus Begins Construction of 314,684 SF Spec Industrial Building in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Opus has begun construction on Opus Intermodal at Joliet, a 314,684-square-foot speculative industrial building on 39 acres in Joliet. The project site is at the northeast corner of Patterson and West Laraway roads, directly across the street from Union Pacific’s Global IV intermodal terminal. Plans call for a clear height of 36 feet, 31 dock doors, two drive-in doors, 209 trailer stalls and 214 car parking spaces. The building can accommodate up to two users. Opus is the developer and design-builder, working with Ware Malcomb as architect. Matthew Stauber and Steve Ostrowski of Colliers are marketing the buildings for lease. A groundbreaking ceremony is scheduled for Thursday, Oct. 1. The building is slated for completion in June 2027.

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IndustrialLoansNew YorkNortheast

Largo Capital Places $24M Permanent Loan for Buffalo Industrial Property

by Taylor Williams

BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has placed a $24 million permanent loan for a 300,000-square-foot industrial property in Buffalo. The address of the property was not disclosed, but the site is located within an “established” industrial park just south of the downtown area. The property was fully leased to a single tenant at the time of the loan closing. Jack Phillips of Largo Capital arranged the nonrecourse loan through an undisclosed CMBS lender. The borrower was also not disclosed.

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CubeSmart-Apache-Junction-AZ
AcquisitionsArizonaIndustrialSelf-StorageWestern

Marcus & Millichap Brokers Sale of Two-Property Self-Storage Portfolio Near Phoenix

by Amy Works

APACHE JUNCTION, ARIZ. — Marcus & Millichap has completed the sale of a two-property CubeSmart portfolio in Apache Junction. MyPlace Self Storage and Nuveen purchased the portfolio from New York City-based Palatine Capital for an undisclosed price. Totaling 523 units, the portfolio includes facilities at 1678 W. Superstition Blvd. and 1735 W. Apache Trail in Apache Junction, approximately 30 miles east of downtown Phoenix. The property at 1678 W. Superstition Blvd. features 342 units and 57,092 net rentable square feet and the property at 1735 W. Apache Trail contains 181 units and 27,100 net rentable square feet. Nathan Coe, Adam Schlosser, Brett Hatcher, Gabe Coe and Charles LeClaire of Marcus & Millichap’s Columbus and Denver offices, in association with Ryan Sarbinoff as Marcus & Millichap’s Arizona broker of record, represented the seller in the deal.

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