Thursday, September 3, 2026
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Industrial

PSRS-Industrial-Irvine-CA
CaliforniaIndustrialLoansWestern

PSRS Arranges $14M Loan for Refinancing of Industrial Flex Facility in Irvine, California

by Amy Works

IRVINE, CALIF. — PSRS has arranged a $14 million loan for the refinancing of an industrial flex facility in Irvine. Formerly part of the St. John corporate campus, the 99,576-square-foot facility features a climate-controlled warehouse with 20-foot clear heights, four dock doors, five drive-in doors and dedicated office space. Michael Tanner and David Sarnoff of PSRS placed the loan, which carries a 60 percent loan-to-value loan ratio with a two-year, full interest-only term, through an undisclosed debt fund.

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DevelopmentIndustrialTexas

HLCI to Develop 238,000 SF Industrial Project in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop Meacham 820 Crossing, a 238,000-square-foot industrial project in North Fort Worth. The development will consist of two buildings totaling approximately 105,000 and 133,000 square feet on a 26.5-acre site at the northwest corner of Old Decatur Road and I-820. Both buildings will feature 32-foot clear heights and dock-high loading doors, in addition to “deep” truck courts and “generous” car parking space. Construction is set to begin before the end of the year and to last about 12 months.

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IndustrialLeasing ActivityMidwestMissouri

Newmark Zimmer Arranges 1.4 MSF Industrial Lease in Independence, Missouri

by Kristin Harlow

INDEPENDENCE, MO. — Newmark Zimmer has arranged a 1.4 million-square-foot lease for a warehousing and distribution tenant at Space Center underground industrial park, which is located at 1500 Geospace Drive in Independence. The transaction represents the largest industrial lease in metro Kansas City by square footage year to date, according to Newmark Zimmer. Spanning 160 acres of limestone, Space Center offers tenants a naturally stable climate, low humidity and advanced fire protection systems. Mark Long, John Hassler and Seamus McLaughlin of Newmark Zimmer represented the undisclosed landlord.

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IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Northeast Ohio Industrial Market Turns a Corner

by Kristin Harlow

By Troy Gerspacher, Gerspacher Real Estate Group/CORFAC International After five straight quarters of tenants giving back more space than they took, Northeast Ohio’s industrial market is finally turning a corner. The reason isn’t a sudden rush of new demand. It’s that almost nobody built anything speculative for two straight years, so the modest leasing activity we’re seeing is enough to move the needle. A manufacturing market Northeast Ohio has never been a mega-warehouse market chasing Amazon-style fulfillment. We’re a manufacturing region. Most of the active deals are in buildings under 100,000 square feet run by regional manufacturers and smaller operators who have been here for decades.  Deals aren’t driven by national logistics players making their way in because of population growth. Instead, deals are driven by suppliers to the region’s manufacturing base.   Market data tells the story Data sources all point to the same fact: Cleveland’s industrial market remains very tight. Vacancy stood at 4.3 percent in the first quarter of 2026, with average asking rents around $6.70 per square foot, according to CoStar. That’s particularly notable compared with the national industrial vacancy rate, which started the year at approximately 7.5 percent.  The market also recorded approximately 420,000 square …

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Park303-Phase-2-BldgsAB-Glendale-AZ
AcquisitionsArizonaIndustrialWestern

Lincoln Property Co. Sells Two Industrial Buildings at Park303 in Glendale, Arizona for $170.2M

by Amy Works

GLENDALE, ARIZ. — Dallas-based Lincoln Property Co. has sold two industrial buildings within Park303 in Glendale. Nuveen Real Estate acquired the assets for $170.2 million. The transaction represents the last of the four buildings sold at Park303, a 210-acre, 3.7 million-square-foot logistics campus located along Loop 303 freeway and Glendale Avenue. The transaction includes Park303 Phase II – Building A, which totals 629,835 square feet and is fully leased to DHL, and Park303 Phase II – Building B, which totals 483,000 square feet and is fully leased to Logisticus Group LLC. Completed in 2025, Park303 Phase II includes three buildings totaling 2.5 million square feet. The phase’s Building C sold in October 2025 to Dollar Tree $147 million. Completed in late 2020, Park303 Phase I totals 1.2 million square feet and is fully leased on a long-term deal to Walmart. BentallGreenOak purchased this building in 2021 for $186 million. Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase building sales.

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AcquisitionsIndustrialMidwestMinnesota

IRG Acquires 422,727 SF Distribution Facility in St. Paul, Minnesota

by Kristin Harlow

ST. PAUL, MINN. — Industrial Realty Group LLC (IRG) has acquired a 422,727-square-foot industrial facility located at 411 Farwell Ave. in South St. Paul. The property formerly served as the headquarters of The Sportsman’s Guide, an online and catalog retailer. Situated on 19 acres, the asset features 392,727 square feet of warehouse space and 30,000 square feet of office space. The facility is fully available for occupancy, creating an opportunity for IRG to reposition and market the property to industrial users. The development features cross-dock loading on three sides, 36 dock-high doors, two drive-in doors, a 110-foot truck court, a clear height of 22 feet and substantial employee parking. The site also includes an existing Union Pacific rail spur and rail doors, with activation required for future rail service.

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Commercial Arranges $25.5M Sale of Industrial Property in Lake Zurich

by Kristin Harlow

LAKE ZURICH, ILL. — SVN Chicago Commercial has arranged the $25.5 million sale of a 210,000-square-foot industrial property located at 1275 Ensell Road in Lake Zurich. Paul Cawthon and Angelo Labriola of SVN represented the seller. Lyman Phillips and Jeff Feldman of Golden Lion Capital represented the buyer, Cardinal Industrial, led by Michael McFarland and Thomas Homco. The transaction included a newly executed, five-year net lease with GereMarie Corp., the facility’s longtime occupant. The lease includes additional renewal options and is corporately guaranteed by Patrick Industries Inc., the publicly traded parent company of GereMarie. Situated on 8.5 acres, the facility features substantial manufacturing infrastructure, including 10,000 amps of power, reinforced concrete floors, a fully air-conditioned production environment, updated loading docks and newer HVAC and LED lighting systems. GereMarie has occupied the property since 2010 and has completed four major expansions at the site.

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AcquisitionsIndustrialNew JerseyNortheastOffice

Legacy Real Estate Sells 126,108 SF Industrial, Office Building in Dover, New Jersey

by Taylor Williams

DOVER, N.J. — Locally based owner-operator Legacy Real Estate Developers has sold a 126,108-square-foot industrial and office building located in the Northern New Jersey community of Dover. The building at 570 Mount Pleasant Ave. formerly housed the American headquarters operations of watchmaker Casio. Elli Klapper of CBRE represented Legacy, which acquired the building last fall in partnership with Saddleback Real Estate Developers and Commerce Park Investors, in the transaction. Dan Whitehead of Resource Realty represented the buyer and future occupant, logistics group Z Transportation Inc.

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AcquisitionsIndustrialNew JerseyNortheast

NAI DiLeo-Bram Brokers $13.1M Sale of Industrial Flex Building in Kenilworth, New Jersey

by Taylor Williams

KENILWORTH, N.J. — NAI DiLeo-Bram (NAIDB) has brokered the $13.1 million sale of a 26,000-square-foot industrial flex building in the Northern New Jersey community of Kenilworth. Completed in 2024, the building at 651 Michigan Ave. consists of 16,000 square feet of warehouse space and 10,000 square feet of office space. Magni America, a provider of telescopic handlers, sold the building to New York-based investment firm Ridgecut Road. Richard Goski, Catherine Goski-Vasquez, Kyle Gerace and Christopher Chiusolo of NAIDB brokered the deal.

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