SAN ANTONIO — Marcus & Millichap has brokered the sale of a 645-unit self-storage facility in San Antonio. CubeSmart previously operated the facility, which was built on a 10.6-acre site on the city’s southwest side in 2023 and spans 115,240 net rentable square feet. Jon Danklefs of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the transaction and procured the buyer, Public Storage, which has rebranded the property. The facility was 89 percent occupied at the time of sale.
PLANO, TEXAS — WareSpace, a a national provider of micro-bay warehouse spaces, has opened a 174,500-square-foot facility in Plano, located northeast of Dallas. WareSpace Plano is a conversion of a formerly vacant retail building and offers private warehouse suites that range in size from 200 to 2,000 square feet. Additional features include climate controls, loading docks, industrial racking, conference rooms, shared kitchens and lounge areas. A ribbon-cutting ceremony took place on Aug. 6.
RICHARDSON, TEXAS — Lee & Associates has negotiated a 14,100-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 789 N. Grove Road was completed in 1983 and totals 54,471 square feet. Jessica Reinhardt and Susan Cancemi of Lee & Associate represented the landlord, an entity doing business as Dallas North Industrial LLC, in the lease negotiations. Shane Rollins of TXCRE represented the tenant, Battery Management Technology Corp.
SPARTANBURG, S.C. — Munich-based Manova Partners has acquired Spartanburg 221, a roughly 1 million-square-foot logistics facility located at 2536 Chesnee Highway in Spartanburg. New York-based Rockefeller Group sold the property for an undisclosed price. Delivered in 2024 on 87 acres, Spartanburg 221 was fully leased at the time of sale to an undisclosed tenant, which operates on a triple-net lease. The industrial property features 344 car parking spaces, 346 trailer parking spaces, 140 dock-high loading doors, four drive-in loading doors and 40-foot clear heights.
ATLANTA — Sagard Real Estate has acquired 5070 Phillip Lee Drive SW, a 400,800-square-foot industrial property located in Atlanta. The seller was SkyREM, according to multiple media sources. The purchase price was not disclosed. The four-building industrial property is fully leased to Kittrich, which manufactures and distributes rug underlays, non-slip products, bath mats and related home goods. The tenant has occupied the property for more than 20 years. Situated on the city’s westside between I-20 and I-285, the property features 48 dock-high doors, two ramped drive-in doors, deep truck courts and multiple points of ingress and egress.
DEKALB, ILL. — BWE has arranged $48 million to refinance a 978,000-square-foot logistics facility occupied by 3M in DeKalb. Mike Guterman of BWE arranged the fixed-rate loan, which features a 55 percent loan-to-value ratio. Griffin Capital, a southern California-based real estate investment and management company, was the borrower. Aegon, a life insurance company lender, provided the loan. Located at 1650 Macom Drive, the property is one of several that are fully leased to 3M in the DeKalb area, totaling around 2.5 million square feet. The building features specialized chemical storage and aerosol rooms, cold storage facilities and containment floors.
CREST HILL, ILL. — Cawley Commercial Real Estate has negotiated a lease for a newly constructed industrial facility totaling 577,422 square feet in Crest Hill on behalf of MWI Property Group. The tenant is a global logistics company. Situated on 37 acres within Crest Hill Business Park, the cross-docked warehouse features a clear height of 36 feet, 104 truck doors, 151 trailer parking stalls, 345 vehicle parking spaces, 14 van stalls, up to 4,000 amps of power and immediate access to the I-55 logistics corridor. Joshua Hearne of Cawley CRE led the leasing assignment, with colleagues Reinier Pranger and Andrew Bobak supporting marketing and leasing efforts. Cawley CRE also assisted MWI on the land acquisition. MWI’s construction affiliate, MWI Construction, served as the design-build general contractor. SPACECO provided engineering services, and Harris Architects provided architectural design services.
JOLIET, ILL. — Inland Real Estate Acquisitions LLC has purchased an 859-unit self-storage facility in Joliet, about 40 miles southwest of Chicago. Mark Cosenza and Brett Smith completed the transaction on behalf of an Inland affiliate. Previously an ExtraSpace Self Storage property, the facility will be rebranded and fully managed by Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc. The two-story, 112,209-rentable-square-foot facility was constructed in 2023. The main climate-controlled building is comprised of 764 units and 95 exterior drive-thru units, of which 13 are oversized for RV, boat or large vehicle storage.
LEWISVILLE, TEXAS — Lee & Associates has negotiated a 176,182-square-foot industrial lease at 501 Holfords Prairie Road in the northern Dallas suburb of Lewisville. The deal is for the entirety of the space within the newly constructed Building F, which was built on a speculative basis within First Park 121, a 1.2 million-square-foot development. Mark Graybill and Adam Graham of Lee & Associates represented the landlord, Chicago-based First Industrial Realty Trust, in the lease negotiations. Jay Benner of Cushman & Wakefield represented the tenant, IEWC Corp., a Wisconsin-based provider of wire and cabling products.
UPPER MACUNGIE, PA. — Nokia will undertake a $30 million expansion of its photonic semiconductor advanced test and packaging facilities and operations within the Lehigh Valley city of Upper Macungie. The initiative is expected to create about 250 new jobs, effectively doubling the Finnish telecommunications company’s regional workforce, and to account for an estimated economic impact of $500 million over the next five years. According to Lehigh Valley Live, the investment will allow for Nokia to increase production capacity at its Upper Macungie facility by a factor of 10, and the company has also leased additional industrial space for “future product development and logistics.”
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