FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Lone Star Commerce Center, a three-building, 380,020-square-foot industrial facility in northwest Fort Worth. Completed in 2021, the shallow-bay, multi-tenant property features 32-foot clear heights, 135- to 185-foot truck courts depths and LED lighting. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry of Cushman & Wakefield represented the seller, a fund backed by Brookfield Asset Management, in the transaction. The buyer was Transwestern Investment Group. Lone Star Commerce Center was fully leased at the time of sale.
CARLSBAD, CALIF. — Cushman & Wakefield has brokered the sale of Raceway Industrial, a Class A logistics facility at 3125 Lionshead Ave. in Carlsbad. An institutional seller sold the asset to a private capital buyer for $76.9 million. Aric Starck and Drew Dobbs of Cushman & Wakefield represented the seller, while Brant Aberg and Bryce Aberg, also of Cushman & Wakefield, represented the buyer in the transaction. Constructed in 2024, the 228,548-square-foot logistics center includes a 4,369-square-foot first-story office and a 4,000-square-foot mezzanine office. The facility also features a clear height of 36 feet, 69 dock-high loading positions, 125-foot concrete truck courts, 370 parking stalls, ESFR sprinkler systems and 4,000 amps of power.
NASHVILLE, TENN. — Locally based Bluecrest Capital Advisors has acquired Royal Parkway I and II, a 145,000-square-foot small-bay industrial property located adjacent to Nashville International Airport, for $12.2 million. The seller was not disclosed. Truxton Trust provided an undisclosed amount of acquisition financing to Bluecrest Capital Advisors, a newly formed company founded by Nashville real estate experts Scott Porter and John Colucci. Porter was formerly a pitcher for the MLB’s Toronto Blue Jays. Royal Parkway I and II is Bluecrest’s second acquisition since its inception earlier this year. Bluecrest plans to invest $6 million in capital improvements to the value-add asset over the next five years, with renovations including exterior upgrades, new interior build-outs, a new roof and a new road. Built in 1990, Royal Parkway I and II sits on a 9.2-acre site and was 85 percent leased at the time of sale.
EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has negotiated a 158,440-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, J&J’s Tri-State Delivery Service, will occupy the entire building at 903 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. John Friedland of United Realty Advisors represented the tenant.
FORT WORTH, TEXAS — Holt Lunsford Commercial Investments (HLCI) has broken ground on Carter Crossing, an approximately 1 million-square-foot industrial project that will be located at 6901 Wichita St. in South Fort Worth. The development will consist of three buildings that will total 142,737, 162,862 and 704,966 square feet. Comerica Bank is financing construction of Carter Crossing, which is expected to be complete in August 2026. Holt Lunsford Commercial is the leasing agent.
TULSA, OKLA. — TruCore Industrial, an Oklahoma-based investment firm founded by executives of net-lease brokerage group Stan Johnson Co., has acquired two facilities totaling roughly 58,000 square feet in Tulsa. The facilities at 6566 E. Skelly Drive and 4620 S. Memorial Drive sit on a combined 4.6 acres and were both fully leased at the time of sale to sign maker Fellers Inc. Phillip Butts, Ken Hedrick and Andrew Ragsdale of Colliers brokered the sale. The seller and sales price were not disclosed.
WILLOW GROVE, PA. — Regional development and investment firm DH Property Holdings has purchased an industrial complex in Willow Grove, located north of Philadelphia, for $5.2 million. The facility at 850 Davisville Road houses a 36,597-square-foot warehouse with a clear height of 18 feet, 10 drive-in doors and 81 car parking spaces, as well as 1.1 acres of rentable outdoor storage space. The facility was fully leased to six tenants at the time of sale. Scott Mertz of NAI Mertz represented DHPH in the off-market transaction.
HONOLULU — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate (NYSE: BX) and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc. (NYSE: ALEX), a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week at $15.22 per share, giving the acquisition price a nearly 40 percent premium. Alexander & Baldwin is the largest owner of grocery-anchored shopping centers in Hawaii. The firm’s overall portfolio spans approximately 4 million square feet and includes 21 retail centers, 14 industrial assets and four office properties, as well as fee interests in 146 acres of ground lease assets. Upon closing of the deal, which is scheduled for the first quarter of 2026, Alexander & Baldwin will become a privately held company but will retain its Honolulu headquarters and maintain its name and brand. The new investment group has announced it will invest $100 million …
HUTCHINS, TEXAS — Lineage Inc. (NASDAQ: LINE), a Michigan-based REIT focused on temperature-controlled warehouses, has broken ground on a cold storage facility in Hutchins, located south of Dallas. The square footage was not disclosed. The site is located within Prime Pointe Park, a 3,000-acre, rail-served master-planned development. The facility, which will feature a range of automated operations, including Lineage’s proprietary LinOS warehouse execution system, is expected to be operational in 2027.
SAN BERNARDINO, CALIF. — Overton Moore Properties has acquired a warehouse located at 890 E. Mill St. in San Bernardino from a Brookfield-based fund for an undisclosed price. Jeffrey Cole, Jeff Chiate, Rick Ellison, Matthew Leupold, Aubrie Monahan and Kristen Schottmiller of Cushman & Wakefield’s Industrial Advisory Group represented the seller in the deal. Rob Rubano and Brian Share of Cushman & Wakefield arranged acquisition financing for the buyer. Situated in the Inland Empire East submarket, the 525,756-square-foot warehouse is fully leased to a high-quality tenant with 4.5 years of remaining lease term. The building features a cross-dock design, 192 dock-high loading doors, fully air-conditioned warehouse space and 771 trailer parking stalls on 29 acres of excess land.
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