FARMERSVILLE, TEXAS — Marcus & Millichap has brokered the sale of a 207-unit boat and RV storage facility in Farmersville, about 45 miles northeast of Dallas. Known as A-Affordable Boat & RV Storage Farmersville, the facility was built on 12.7 acres in 2023 and spans 101,520 net rentable square feet. Danny Cunningham, Brandon Karr and Jon Danklefs of Marcus & Millichap represented the seller, Ciera Bank, in the transaction. Cunningham and Karr also procured the undisclosed, Dallas-based buyer.
ANNVILLE, PA. — DHL Supply Chain, a developer and third-party logistics firm based in Germany, will develop a 1.2 million-square-foot industrial project in Annville, about 100 miles west of Philadelphia. The building will be located within Clear Springs Logistics Park and will feature a clear height of 40 feet, 120 dock doors, four drive-in doors and parking for 426 car parking spaces (expandable to 571) and 295 trailer parking stalls. Harris Architects is designing the project, and Peak Construction Corp. is the general contractor. Warehaus is the civil engineer. Construction is expected to be complete before the end of the year.
CASTLE ROCK, COLO. — Colliers has arranged the sale of Castle Rock Industrial at The Meadows, an industrial asset in Castle Rock. Saunders Commercial Development Co. sold the property to a joint venture between New York-based Sound Capital and Connecticut-based Palladian Management for an undisclosed price. Located at 3563-3593 Timber Mill Parkway, Castle Rock Industrial at The Meadows offers 158,380 square feet of industrial space. T.J. Smith, Nick Rice, Tim Shay and Brad Calbert of Colliers represented the seller in the transaction.
PITTSBORO, IND. — Faith Technologies Inc. (FTI) is expanding to Pittsboro, about 30 miles northwest of Indiana, and has begun construction on a 500,000-square-foot manufacturing facility within Opus’ Pittsboro Commerce Center. FTI delivers solutions in engineering, construction, manufacturing and clean energy. The new Pittsboro facility will support FTI’s Excellerate brand, which specializes in modular electrical assemblies and energy solutions. The project will create more than 200 skilled manufacturing and electrical jobs. Pittsboro Commerce Center is a new 170-acre industrial development planned by Opus that is located near I-74. Opus sold 47 acres to FTI and is currently completing site infrastructure, including grading, access roads and utilities. FTI is serving as general contractor for its facility, which marks the first building within the development. Opus plans to build out the remainder of the project in phases. The State of Indiana and Hendricks County provided incentive-based tax credits through the Indiana Economic Development Corp. and a property tax abatement through Hendricks County based on FTI’s expected impact on economic growth and job creation in Pittsboro and the surrounding region.
CHICAGO — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 51,820-square-foot industrial building located at 4114 Peoria St. in Chicago. The single-tenant property was fully leased at the time of sale. Situated within the Stockyards Industrial Park and constructed in 1969, the building features three docks and parking for more than 45 cars. Zeke Rowan, Adam Haefner, Nick Fazio and Marty Mikaitis of Avison Young represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
BURLINGTON COUNTY, N.J. — A joint venture between New Jersey-based owner-operator NFI Real Estate and Penwood Real Estate Investment Management is underway on construction of Turnpike 5 Logistics Park, a 528,478-square-foot speculative industrial project in Southern New Jersey’s Burlington County. The two-building development’s name stems from its proximity to Exit 5 off the New Jersey Turnpike. The buildings will span 310,000 and 218,478 square feet and will feature clear heights of 36 feet, as well as “extensive” trailer parking and “heavy” power capacities. Fifth Third Bancorp provided $54 million in construction financing for the project, which was arranged by JLL. JLL also structured the joint venture between the two groups.
The Birmingham industrial real estate market has remained relatively resilient compared to many U.S. markets, but recent trends show a shift in demand patterns with recent softness in the distribution sector compared to growing activity from manufacturing users. Overall market fundamentals remain stable. Birmingham continues to benefit from disciplined development and historically tight vacancies. Multi-tenant leased vacancy has generally remained well below national averages, hovering around the 5 percent range in the first half of 2025. Rent growth remains positive at about 3.5 percent annually. Renewing or vacant second-generation rents strategically lag new construction rents by about 15 to 20 percent. The second-generation base rent range is $6 to $7.50 per square foot depending on size, location and quality. Distribution and logistics demand has softened in recent months. Following the surge of warehouse construction and demand during the pandemic, leasing activity slowed by 2025. Approximately 1.3 million square feet of speculative space was delivered locally in 2022 and 2023, with asking rents at about $8 per square foot. The early deliveries benefited while the last projects to deliver were slower to lease as the economy stalled in the post-pandemic Biden era. Presently, 109,000 square feet of first-generation space delivered in …
AUSTIN, TEXAS — A partnership between St. Louis-based developer Sansone Group and Principal Asset Management has broken ground on a 682,000-square-foot industrial project in Austin. The site is located 10 miles south of downtown Austin near the Tesla Gigafactory, and the project represents Phase II of a 134-acre development known as Austin Hills Commerce Center. Burton Construction is the general contractor for the Phase II, which will consist of a single building, and Stream Realty Partners has been appointed as the leasing agent. Phase I of Austin Hills Commerce Center comprised three buildings totaling 538,000 square feet. The development is ultimately planned to feature 1.3 million square feet across six buildings.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated the sale of a 40,670-square-foot industrial building in Grand Prairie, located roughly midway between Dallas and Fort Worth. Situated on a 3.4-acre site at 1207 Farmers Road, the building was developed on a speculative basis in 2023 and features 16 dock doors, 24-foot clear heights and 100-foot truck court depths. Erik Blais of Bradford represented the the developer, Hamilton Commercial, in the all-cash transaction. The buyer was Dossun Truck Body Parts.
JOLIET, ILL. — Hyundai Translead, a subsidiary of Hyundai Motor Co., has signed a 1.4 million-square-foot lease in Joliet. Industrial Realty Group LLC (IRG) owns the property, which was formerly Caterpillar’s main plant. In addition to the Joliet facility, Hyundai Translead will also move into a second Will County location at the former Lion Electric site. The two expansions will collectively create approximately 2,500 new full-time jobs and represent $450 million of investment. Onno Steger represented IRG on an internal basis. Jerry Sullivan and Ed Wabick of DarwinPW Realty/CORFAC International represented the landlord, while Shamus Conneely of John Greene Commercial represented the tenant.
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