OPA LOCKA AND BOYNTON BEACH, FLA. — Miller Construction, working on behalf of Orlando-based commercial real estate services and development firm Foundry Commercial, has begun construction on two warehouse projects in South Florida totaling 832,000 square feet. The facilities, which combined for $68 million in value, include Meek International Business Park Phase IV (375,000 square feet) in Opa Locka, and Egret Point Logistics, a two-building park (457,000 square feet) in Boynton Beach. The project team for Meek International include Arcadis (architect), Puga & Associates (MEP engineer), DDA (structural engineer) and Langan (civil engineer). Arcadis and DDA were also part of the project team for Egret Point, which also included B&K Engineering (MEP engineer) and Kimley-Horn (civil engineer).
NICHOLASVILLE, KY. — Michigan-based Schostak Brothers Co. has acquired a 125,000-square-foot industrial facility located at 101 Etter Drive in Nicholasville, roughly 14 miles south of Lexington, Ky. The seller and sales price were not disclosed. The warehouse and manufacturing facility marks the second Kentucky acquisition for Schostak Brothers.
IRVINE, CALIF. — Premier Design + Build Group has started construction on LogistiCenter at Irvine I & II, its first project in the Western region for developer Dermody Properties. The development will consist of two LEED-certified industrial facilities totaling 224,920 square feet. LogistiCenter at Irvine I will be a 133,320-square-foot freestanding building situated on six acres. The asset will feature 10,000 square feet of office/mezzanine space, a clear height of 36 feet, 15 dock doors with dock bumpers, one drive-in door and 108 parking stalls. Situated on an adjacent 4.4 acres, the 91,600-square-foot LogistiCenter at Irvine II will offer 8,200 square feet of office/mezzanine space, a clear height of 36 feet, 11 dock doors, one drive-in door and 74 parking stalls. Completion is slated for first-quarter 2025. The project team includes HPA Architecture, Darin Fong and Associates, Tait Engineering, Kier + Wright, Gregg Electric and Wallace P. Johnson Plumbing. CBRE is serving as the real estate broker for the development.
LAS VEGAS — Avison Young has negotiated the sale of El Camino Industrial Center, an industrial facility at 6260 W. Pebble Road in Las Vegas. A Las Vegas-based developer sold the asset to a California-based private investor for $10.3 million, or $290 per square foot. Built in 2023, the 35,446-square-foot El Camino Industrial Center features four dock doors, a clear height of 24 feet, two grade-level doors, ESFR sprinklers and a build-to-suit office. At the time of sale, the property was fully occupied. Chris Lexis and Joe Leavitt of Avison Young represented the seller, while James Griffis of Avison Young represented the buyer in the deal.
LIBERTY, MO. — TAB USA and Animal Health International have inked leases at Liberty Heartland Logistics Center in the Kansas City suburb of Liberty. The Opus Group developed the three-building industrial project in a joint venture with Washington Capital Management Inc. TAB, an international manufacturer of industrial batteries, moved into its 66,700-square-foot space earlier this year for housing its first U.S. headquarters and assembly and distribution operations. Animal Health International, a global distributor of animal health products, will open its 255,000-square-foot distribution center in March. Liberty Heartland Logistics Center currently has 490,300 square feet of vacancy across two buildings. The first phase of the development was an 847,475-square-foot build-to-suit for Hallmark. Opus was the developer, design-builder, architect and structural engineer on the shell buildings and the architect and structural engineer on TAB’s build-out. Davidson Architecture & Engineering and Krudwig Structural Engineers completed the build-out for Animal Health International. Michael VanBuskirk, Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are the leasing agents.
CHICAGO — Brennan Investment Group has acquired a single-tenant industrial building totaling 225,000 square feet in Chicago for an undisclosed price. The property is situated on seven acres at the intersection of I-55 and Pulaski Road. The transaction marks the second acquisition in Brennan’s corporate real estate fund, which launched in September and targets surplus industrial real estate from non-professional and corporate owners. Brennan plans to make significant property improvements, including doubling the existing loading capacity. Brennan now owns 12 million square feet in Chicagoland.
CARLSBAD, CALIF. — Greenwood Village, Colo.-based Hill Cos. has completed the disposition of Studio 2200, a Class A, freestanding industrial flex building in Carlsbad. IDEC Corp. acquired the asset for $49.5 million. IDEC, a manufacturer of industrial automation and control products, is relocating its existing operation from Silicon Valley to occupy a majority of the two-story 233,194-square-foot building, which is located at 2200 Faraday Ave. Situated on nearly 14 acres, Studio 2200 features private balconies and outdoor amenity spaces, prominent signage, ample dock- and grade-loading positions, a freight elevator, clear heights ranging from 15.5 to 17 feet and heavy power. Aric Starck and Drew Dodds of Cushman & Wakefield represented the seller, while Peter Curry of Cushman & Wakefield and CBRE’s Dennis Visser and Weston Yahn represented the buyer in the deal.
DENVER — Industrial Outdoor Ventures (IOV) has acquired its 10th property in the Denver area with the purchase of 3750 Nome Street, a 4.9-acre industrial outdoor storage site in Denver’s Airport Central submarket. Terms of the transaction were not released. The property includes a 24,000-square-foot warehouse with a clear height of 22 feet, two drive-in doors and four dock-high positions, as well as a 7,000-square-foot standalone office with additional storage and a private garage. At the time of acquisition, the property was vacant and on the market for lease. Sam Dragan and Mike Camp of CBRE represented the buyer and undisclosed seller in the deal.
CHICAGO — Ryan Cos. US Inc. has formed a joint venture with Namdar Realty Group and Mason Asset Management to close on the land and start construction of the final phase of Pullman Crossings industrial park in Chicago. The final phase is a 160,000-square-foot speculative facility. Pullman Crossings is a 50-acre industrial park within Pullman Park, a 180-acre mixed-use project being developed by Chicago Neighborhood Initiatives. The new building will feature outdoor eating areas, exterior bike racks, ESFR fire protection and a clear height of 32 feet in the warehouse. Ryan is developing and building the facility with construction financing provided by Bankers Trust. Completion is slated for August 2025.
LAREDO, TEXAS — A partnership between Maryland-based investment manager Realterm and regional owner-operator Titan Development will develop a 440,300-square-foot industrial project in the Rio Grande Valley city of Laredo. The cross-dock facility will be situated on a 26-acre site and will be divisible for two tenants. Building features will include 30-foot clear heights, 185-foot truck court depths and 264 trailer parking stalls. Construction is expected to last about 12 months.