RIVERSIDE, CALIF. — Seefried Properties, in partnership with Crow Holdings, has purchased a 24-acre site within Meridian Business Park, a 1,290-acre master-planned commerce and distribution center in Riverside. The buyers plan to develop three fully entitled speculative buildings totaling 375,000 square feet on the site. The buildings will feature 32-foot clear heights, 60 trailer spaces, 65 dock doors and 387 auto stalls. Construction is slated to begin in November with completion scheduled for second-quarter 2020. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield, along with Joe McKay and Chris Morrell of Lee & Associates, handled the transaction for Seefried Properties and Crow Holdings.
NEW CENTURY, KAN. — Sumner Investment LLC, a local partnership arranged by Jones Development, has acquired a 311,100-square-foot distribution and manufacturing facility in New Century within Johnson County. The purchase price was not disclosed. The building is situated on 17.7 acres in the New Century AirCenter near I-35. The facility features clear heights ranging from 22 to 26 feet, 12,000 square feet of office space, 36 dock doors, six drive-in doors and 95 trailer parking stalls. The property will undergo a capital improvement plan.
SCHAUMBURG, ILL. — Cavalry Logistics has signed a 25,253-square-foot industrial lease in Schaumburg. The company, a third-party freight brokerage provider, will occupy the entire building located at 895 American Lane. Cavalry’s dispatch and sales division will occupy the property, which includes 11,000 square feet of newly renovated office space. Cory Kay, Mike DeSerto and Dan Benassi of Entre Commercial Realty LLC represented the landlord, a private investor. Dane Peachee of Compass Real Estate Advisors represented the tenant.
FORT MYERS, FLA. — Gates Construction has broken ground on The Lock Up Self Storage building located in Fort Myers. The three-story, 849-unit facility will span 106,016 square feet and offer climate-controlled units ranging from 25 square feet to 300 square feet. The property is located at 12700 University Drive, seven miles south of downtown Fort Myers. Partner in Design Architects designed the building. Completion is slated for this fall.
FORT WORTH, TEXAS — Callaway Golf Co. will open a 783,465-square-foot distribution center at AllianceTexas, Hillwood’s 26,000-acre master-planned community in Fort Worth. The sporting goods company, which produces and distributes clubs, apparel and other golf accessories, has operated out of AllianceTexas for nearly a decade and is quadrupling its current footprint with this deal. The opening is scheduled for early 2020.
STREETSBORO, OHIO — Curtis-Layer Design Build has broken ground on a 150,000-square-foot speculative warehouse in Streetsboro, about 30 miles southeast of Cleveland. The building will feature precast concrete and glass panels and a clear height of 32 feet. The site is located near the Frost Road interchange at I-480 and approximately a half-mile from the Ohio Turnpike. Completion is slated for first-quarter 2020. Bob Brehmer of NAI Pleasant Valley is marketing the property for lease. A private investment group is the developer and MPG Architects is the architect. Chemical Bank provided construction financing.
SHELBY TOWNSHIP, MICH. — Prism Plastics has signed a 30,470-square-foot industrial lease in Shelby Township, about 15 miles north of Detroit. Prism manufactures high-precision plastic products with a focus on automotive parts. Andrew Boncore of Dominion Real Estate Advisors represented the tenant and the landlord, GSL Holdings LLC. The lease term is 12 years.
LONG ISLAND CITY, N.Y. — Maquette, a New-York based fine art logistics company, has signed a 46,000-square-foot industrial lease in Long Island City. The property, 48-49 35th Street, is a 260,000-square-foot warehouse originally built in 1949. Forrest Mas and Chris Pachios of North River Co., the landlord, negotiated the lease directly with the tenant.
FRANKLIN, MASS. — TMC Holdings & Development LLC will develop a 50,000-square-foot industrial property in Franklin, about 30 miles southwest of Boston. Formerly the site of a glass recycling facility, the property is located in the Marijuana Overlay District with frontage on I-495. TMC Holdings plans to demolish the facility and build a 50,000-square-foot warehouse with 22 to 24-foot clear heights. Construction is slated to begin in fall 2019. John Eysenbach of R.W. Holmes represented TMC Holdings in the transaction, as well as the seller, Strategic Materials Inc.
DENVER — CBRE has arranged the sale of a LEED Gold-certified industrial flex building located at 6144 N. Panasonic Way in northeast Denver’s Airport corridor. Omaha-based NewStreet Properties acquired the property from Denver-based Westfield Co. for $22 million. Westfield Co. originally constructed the 112,966-square-foot facility as a build-to-suit for Panasonic Enterprise Solutions (PESCO), a technology and solar subsidiary of Panasonic, in 2016. The smart property features warehouse, assembly, research and design space, as well as a two-story office space with Class A finishes. Situated on six acres, the property is adjacent to the 61st and Peña Light Rail Station. Tyler Carner, Jeremy Ballenger and Jim Bolt of CBRE represented the seller in the deal.