CBRE Negotiates Sale of 387,838 SF Harris Ridge Business Center in North Austin

AUSTIN, TEXAS — CBRE has negotiated the sale of Harris Ridge Business Center, a 387,838-square-foot industrial park in North Austin. Harris Ridge consists of five buildings that were constructed in phases between 2008 and 2021. The park was fully leased at the time of sale to a roster of 11 tenants with an average suite size of 32,392 square feet. Boston-based TA Realty purchased the property from Austin-based HPI Real Estate Services for an undisclosed price. Randy Baird, Jonathan Bryan, …

Frampton Construction Breaks Ground on 204,000 SF Industrial Building in Knightdale, North Carolina

KNIGHTDALE, N.C. — Frampton Construction Co. LLC has broken ground on the final building within Eastgate 540, an industrial park in the Raleigh suburb of Knightdale. The facility is the seventh building in the park and the fourth built by Frampton.Eastgate 540’s final building will be a 204,000-square-foot industrial facility with features including 32-foot clear heights, 50 dock doors and two drive-in doors. The property will feature concrete tilt walls and a structural steel …

Cushman & Wakefield Brokers Sale of Two New Jersey Industrial Buildings Totaling 204,000 SF

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 204,000 square feet that are located in the Northern New Jersey community of Bridgewater. Both buildings feature cross-dock configurations and clear heights of 23 feet and were fully leased at the time of sale. A Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Seth Zuidema represented the seller, Camber Real Estate Partners, and procured the buyer, High Street …

Colliers Negotiates 63,347 SF Industrial Lease in Pennsauken, New Jersey

PENNSAUKEN, N.J. — Colliers International has negotiated a 63,347-square-foot industrial lease at 6901 N. Crescent Blvd. in Pennsauken, located in Southern New Jersey. Ian Richman and Marc Isdaner of Colliers represented the landlord, Velocity Venture Partners, in the transaction. Scott Mertz of NAI Mertz represented the tenant, TopPop, a provider of packaging for frozen alcoholic beverages. TopPop expects its new facility to be operational by

Memphis is Well-Established for Industrial Owners and Users to Win

Momentum in the local industrial market has been maintained because of Memphis’ world-class infrastructure offering the “four Rs” of transportation: river, road, rail and runway. Thanks to Memphis’ central location, truck freight can reach 65 percent of the nation’s population in 24 hours. The Port of Memphis is the fifth-largest inland port in the United States and an east-west highway spans the width of the country.As home to FedEx Global Headquarters and a UPS hub, Memphis …

NorthPoint Development Purchases Land in Metro Charlotte for 676,000 SF Industrial Development

SALISBURY, N.C. — NorthPoint Development has purchased around 40 acres in Salisbury, about 36.5 miles north of Charlotte. NorthPoint bought the land in order to build I-85 Commerce Center, a speculative industrial project that will total 676,000 square feet. The seller and sales price were not disclosed.I-85 Commerce Center will feature 40-foot ceilings, 185-foot truck courts, auto and trailer parking, as well as immediate access to Interstate 85. The project is slated for completion by …

JLL Negotiates Sale of 780-Unit CubeSmart-Branded Self-Storage Facility in Hutto, Texas

HUTTO, TEXAS — JLL has negotiated the sale of Park 79 Self Storage, a 780-unit facility that is operated under the CubeSmart brand in Hutto, a northeastern suburb of Austin. The property was built on 3.2 acres in 2019. Brian Somoza and Steve Mellon of JLL represented the seller, a locally based entity doing business as Park 79 Storage LLC, in the transaction. The buyer was Wasatch Storage

MAG Capital Partners Acquires 402,046 SF Manufacturing, Distribution Property in Waco

WACO, TEXAS ­— MAG Capital Partners has acquired a 402,046-square-foot manufacturing and distribution property in Waco that has served as the headquarters of Hobbs Manufacturing since 1993. Hobbs Manufacturing, founded in 1953, employs about 200 people at the Waco plant, where it produces synthetic fiber batting and other fiberfill products for the apparel, home furnishings and industrial markets. Dax T. S. Mitchell and Andrew Gi of MAG Capital Partners negotiated the transaction directly …

EverWest, Woodmont Buy New Jersey Office Building, Plan Industrial Redevelopment

SOMERSET, N.J. — EverWest Real Estate Investors and Woodmont Properties have acquired an office building and adjacent development site in the Northern New Jersey community of Somerset with plans to redevelop the building and site into a 426,000-square-foot industrial complex. The partnership acquired the 351,782-square-foot building and seven-acre land parcel for $42.7 million. The new industrial complex will consist of two buildings spanning 294,000 and 132,000 square feet. Completion of the …

Lincoln Property Co. Sells Industrial Facility in Glendale, Arizona to BentallGreenOak for $186M

GLENDALE, ARIZ. — LPC Desert West, the western regional office of Lincoln Property Co. (LPC), has completed the disposition of the first phase of Park 303, an industrial park located at 6600 N. Sarival Road in Glendale. BentallGreenOak acquired the building for $186 million, which is the highest sales price for a single industrial facility in the history of Arizona.Situated on 71 acres, the nearly 1.3-million-square-foot property is fully leased to an unnamed retailer. The building …

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