HOUSTON — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management has broken ground on Phase I of Gulfbelt Logistics Park, a speculative industrial project in southeast Houston that will add 498,798 square feet of space across three buildings to the local supply. Phase I will consist of one cross-dock, one rear-load and one front-load building with footprints ranging from 88,750 to 278,858 square feet and with 28- to 36-foot clear heights. Project partners include Burton Construction Co., Powers Brown Architecture and LJA Engineering. Veritex Community Bank is providing construction financing, and CBRE will handle the park’s leasing assignment on behalf of ownership. Completion is slated for next spring.
Industrial
LEWISVILLE, TEXAS — California-based investment firm Bixby Capital Management has purchased a 241,104-square-foot industrial park in the northern Dallas suburb of Lewisville. Red River Business Park consists of three rear-load buildings with 28- to 32-foot clear heights that are situated on a 19.4-acre site at the intersection of I-35 and State Highway 121. Los Angeles-based PCCP financed the acquisition of the property in conjunction with Bixby’s purchase of a 222,382-square-foot warehouse near Nashville.
LAREDO, TEXAS — Austin-based investment firm Buchanan Capital Partners has acquired an 86,310-square-foot warehouse in the South Texas city of Laredo. According to LoopNet Inc., the building at 172 Interamerica Blvd. was completed earlier this year and offers 29-foot clear heights, 26 dock doors, 52 trailer parking spaces and 3,000 square feet of office space. Buchanan acquired the property in partnership with Frontier Real Estate Partners. The seller and sales price were not disclosed.
HOUSTON — Colliers has negotiated the sale of a 66,500-square-foot industrial outdoor storage facility in northeast Houston. Built in 2008, the facility sits on approximately 15 acres at 9803 Sheldon Road and includes 10 acres of stabilized storage space, four grade-level doors, one dock-high door and 6,000 square feet of office space. Zack Taylor and Todd Moore of Colliers represented the seller in the transaction. Mike Taetz, also with Colliers, represented the buyer. Both parties requested anonymity.
TUCSON, ARIZ. — Kc4e LLC has purchased an industrial building located at 1501 E. 21st St. in Tucson from Kash Property Management for $1.8 million. Paul Hooker and Robert Glaser of Cushman & Wakefield | PICOR represented the seller in the transaction.
BRISTOL, R.I. — Marcus & Millichap has brokered the sale of a 21,570-square-foot warehouse in Bristol, about 20 miles south of Providence. Built in 1986 and fully renovated in 2023, the building at 66 Tupelo St., which was fully leased at the time of sale, features two overhead doors, a loading dock and 62 surface parking spaces. Harrison Klein and Michael Grant of Marcus & Millichap represented seller, an undisclosed private investor, in the transaction and procured the buyer, Colorado-based Playground Properties.
AUSTIN, TEXAS — The concept of locating similar types of commercial real estate uses in close proximity to one another to allow those users to naturally develop synergies — clustering — is an age-old practice in certain asset classes like office, retail and hospitality. But the strategy can make sense for industrial real estate as well, especially in a time in which new subcategories of industrial uses are attracting capital and generating demand for space. Logistics and distribution users, for example, typically identify transportation costs as their top line item on the expense side of the ledger. Those companies have little choice but to pay top dollar for land or space near the rooftops of their existing customer bases so as to minimize transit costs. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Data center uses cannot properly and profitably function without access to cheap electricity, hence the ability of Texas to land many of those deals via its deregulated power grid. Suppliers of smaller industrial parts and components are often supported by a handful of major manufacturers, and …
SAN MARCOS, TEXAS — JLL has arranged an undisclosed amount of construction financing for Phase I of San Marcos Business Park, a speculative industrial project that will add 377,300 square feet of space to the local supply. Located within the Whisper South master-planned development, the rear-load building will feature 36-foot clear heights, 75 dock doors, two drive-in doors and an ESFR fire sprinkler system. Matt Stewart, Ace Sudah, Jackson Finch, Jacob Michael and Cameron Sepahi of JLL arranged the loan through an undisclosed regional bank on behalf of the developer, Ledo Capital Group.
THE WOODLANDS, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop a 90,0000-square-foot (net rentable) facility in The Woodlands, about 30 miles north of Houston. The number of units has not yet been finalized. The site is located near the intersection of Six Pines Drive and Lake Front Circle within The Woodlands Town Center, and the property will feature climate-controlled space. Construction is scheduled to begin next spring and to be complete in the first quarter of 2027.
Cushman & Wakefield Commercial Advisors Arranges Sale-Leaseback of Two Memphis Industrial Facilities
by John Nelson
MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale-leaseback of two industrial facilities in Memphis totaling 250,000 square feet. AIC purchased the facilities, located at 2149 Harbor Ave. and 2172 Wharf St., from the tenant, Red Dot Corp. Red Dot designs and manufactures HVAC systems for commercial and military vehicles. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors, along with Frank Maldonado and Dan Johnsen of Cushman & Wakefield, represented Red Dot in the sale and long-term lease of the two facilities. Terms of the transaction were not released.
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