HUTCHINS, TEXAS — Realterm, an independent global investment manager focused on the transportation industry, has acquired a 24-acre industrial outdoor storage (IOS) facility in Hutchins, a southeastern suburb of Dallas. The facility at 1096 S. I-45 Service Road houses three buildings: a 24,200-square-foot maintenance facility, a 12,000-square-foot, grade-level warehouse and maintenance facility and a 7,600-square-foot office building. The buildings feature 23 drive-in doors, nine drive-through maintenance bays and one wash bay. The seller and sales price were not disclosed.
LEWISVILLE, TEXAS — Lee & Associates has negotiated the sale of a 113,904-square-foot industrial building in the northern Dallas suburb of Lewisville. Andes Coil Processes occupies the building at 202 S. Railroad St., which according to LoopNet Inc. was constructed in 1983 and features 35-foot clear heights. Tomas Wilson and Alex Wilson of Lee & Associates represented the buyer, Bleecker Partners, in the transaction. Todd Hubbard of NAI Robert Lynn represented the undisclosed seller.
STAFFORD, TEXAS — Colliers has brokered the sale of an industrial building located at 13715 N. Promenade Blvd.in Stafford, a southwestern suburb of Houston. According to LoopNet Inc., the building, which totals 24,500 square feet, was originally constructed in 2006 and renovated in 2023. Jason Tangen of Colliers represented the undisclosed seller in the transaction.
BALTIMORE — Merritt Properties, a privately held commercial real estate developer and owner based in Baltimore, has received a $750 million investment led by Centerbridge Partners LP. The investment includes capital to grow the company’s shallow-bay industrial portfolio in existing markets in Maryland, Virginia, North Carolina and Florida, as well as new markets. As part of the investment, Centerbridge acquired the ownership interest previously held by Almanac, the private real estate investment arm of Neuberger that has partnered with Merritt since 1997. Almanac is also part of the investment group led by Centerbridge. Jefferies Private Capital Advisory served as financial adviser to Merritt in connection with the transaction, and CBRE National Partners served as real estate adviser. Miles & Stockbridge PC and Kramon & Graham PA provided legal counsel to Merritt. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge, and Seyfarth Shaw LLP represented Almanac. Additionally, Merritt has announced changes to its C-suite of executives. Robb Merritt, the company’s current president, has been appointed to CEO, while previous CEO Scott Dorsey will transition to executive chairman. Bobby Lanigan, who previously led Merritt’s acquisitions and strategic growth initiatives, will become the firm’s new president.
SAN ANTONIO — Toyota Motor North America (TMNA) has unveiled plans to invest $3.6 billion to expand the Toyota Texas manufacturing campus in San Antonio with a second vehicle assembly line to support production of the Tacoma truck. The expansion will create 2,000 new jobs and add 2.5 million square feet to Toyota Texas, doubling its size by 2030. TMNA will transition Tacoma production from Toyota Motor Manufacturing Baja California, located in Mexico, to the expanded Toyota Texas plant over an approximate four-year period. Toyota Texas currently includes a vehicle assembly line and new rear axle plant that is nearing startup. “The 2,000 acres of South Texas ranchland our plant stands on today was purposefully selected for its ability to scale with vehicle demand, and today marks the first step toward realizing that potential,” says Frank Voss, TMNA group vice president of truck manufacturing and president of Toyota Texas. This expansion brings Toyota’s total investment in San Antonio to $8.3 billion since breaking ground in 2003. Toyota’s local workforce will climb to approximately 6,000 team members, supported by 23 onsite suppliers and their employees. For nearly 20 years, Toyota Texas has rolled out trucks and SUVs, assembling more than 197,000 …
GRAND PRAIRIE, TEXAS — Avison Young has negotiated a 10-year, 61,861-square-foot industrial lease in Grand Prairie, located roughly midway between Dallas and Fort Worth. The tenant is Flow Control Group, and the space is located within Building 2 of the industrial property at 3550 N. Highway 161. Mike Kennedy and Chet Hall of Avison Young represented the tenant in the lease negotiations. Kacy Jones, Steve Koldyke and Brian Gilchrist of CBRE represented the landlord, Molto Properties.
IRVING, TEXAS — Pye-Barker Fire & Safety LLC has signed a 13,776-square-foot industrial lease in Irving. The provider of alarm and monitoring systems is taking space within Skyway Corporate Center, a flex building located at 3109 Skyway Circle N. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. John Paul Floyd of CBRE represented the tenant.
GAHANNA, OHIO — Colliers has brokered the sale of Eastgate Logistics Center, a 292,594-square-foot industrial property in Gahanna within the East submarket of Columbus. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Joel Yakovac, Shane Woloshan and Michael Linder of Colliers represented the seller, a venture between Scannell Properties and Manulife Investment Management, a company of Manulife Wealth & Asset Management. Eastgate Logistics Center is fully leased to Wesco and Nuvik USA. The property features a clear height of 32 feet, 30 dock doors and direct access to I-70 and I-71. Dogwood Industrial Properties, a TPG Real Estate platform, was the buyer.
IRVINE, CALIF. — Northwestern Mutual has sold Barranca Business Park, a 281,999-square-foot industrial property in Irvine. Borstein Enterprises acquired the asset for an undisclosed price. Situated on 16.2 acres at 15281-15399 Barranca Parkway, the mid-bay industrial park features 13 buildings with units ranging in size from 8,523 to 30,495 square feet. At the time of sale, the asset was 87 percent occupied. Jeff Chiate, Rick Ellison, Matt Leupold and Aubrie Monahan of Cushman & Wakefield represented the seller and buyer in the transaction.
CHINO, CALIF. — An undisclosed auto parts distribution company has signed a lease to occupy Building 3 within Chino South Industrial Center. Originally constructed in 2014 at 16380 Euclid Ave., the 522,267-square-foot property features 32-foot clear heights, dock-high loading and a large truck court. The facility is located Gus Andros of DAUM Commercial and Nathan Lara, Andrew Lara, Rudy Lara and Jack Nersesian of Lara CRE represented the tenant in the lease negotiations. Steve Bellitti, Tom Taylor, Joey Jones and Evelyn Manning of Colliers represented the landlord.
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