Thursday, June 19, 2025
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Industrial

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Content PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates: Absorption Is Positive Across All Property Types According to Third-Quarter Report

by Sarah Daniels

Perhaps the most salient information within Lee & Associates’ 2024 Q3 North America Market Report pertains to the office market. The third quarter of 2024 ended nine continuous quarters of negative net absorption in the office sector. However, additional occupancy losses may be on the horizon for the office market, even as supply pressures ease for this property type. Positive retail news has led to positive industrial news, as rising demand for retail goods has bolstered tenant demand for industrial space just as additional industrial inventory is coming on line. Steady economic growth and continuing impediments to home ownership have created strong absorption in the multifamily sector. Rent growth and vacancy rates have largely plateaued. Lee & Associates has made their complete third-quarter report available here (with more detailed information broken down according to property type). Below is an overview of the strengths and challenges in the industrial, office, retail and multifamily sectors. Industrial Overview: U.S. Demand Spikes Industrial demand across the United States dramatically improved in the third quarter. There were 52.8 million square feet of positive net absorption in the country in the third quarter, a 76 percent jump from the same period a year ago and more than double the …

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Wier-Thirty6-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

BKM Capital Partners Buys Nine-Building Wier Thirty6 Business Park in Phoenix for $21.6M

by Amy Works

PHOENIX — BKM Capital Partners has acquired Wier Thirty6 Business Park, an industrial asset in Phoenix, for $21.6 million. The asset is situated on 5.8 acres at 3610-3660 E. Wier Ave. and 4633-4645 S. 36th St. in Phoenix’s Airport submarket. Built 1986, the 104,146-square-foot property consists of nine freestanding buildings housing 10 units with an average size of 10,415 square feet. The park features 18-foot clear heights, five truck wells, 10- by 12-foot grade-level doors and 243 parking spaces, as well as a 48 percent office component. The buildings are fully leased to a variety of tenants, including Service Education AZ, RestorationHQ, WSP USA Environment & Infrastructure and the U.S. General Services Administration. BKM had originally purchased the asset in 2018, when it was known as Diablo Business Center, for $8 million. The firm invested more than $2 million in deferred maintenance, cosmetic upgrades and speculative tenant improvements on the property. Bob Buckley, Tracy Cartledge, Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield represented the undisclosed seller in the deal.

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AcquisitionsFloridaIndustrialSoutheast

Glenstar, Columnar Investments Sell 818,000 SF Industrial Park in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — A joint venture between Chicago-based Glenstar Logistics and Dallas-based Columnar Investments has sold Tri-County 75, an 818,000-square-foot industrial park located on a 72-acre site in Fort Myers. The four-building, Class A park was built in October 2023 and was 95 percent leased at the time of sale. The buyer and sales price were not disclosed. Jose Lobon, Frank Fallon, Trey Barry, Royce Rose, Kris Courier, Rian Smith, Gabriel Braun and Daniel Sarmiento of CBRE represented Glenstar and Columnar in the transaction. Tri-County 75 is located at 6115-6150 Tri County Commerce Way and offers proximity to I-75 and Southwest Florida International Airport. Designed by Ware Malcomb, the park’s rear-load and cross-dock facilities range in size from 76,210 to 404,050 square feet and feature concrete tilt-up construction, 32- to 36-foot clear heights, 142 trailer parking spots, large truck courts and trailer stalls. Tenants at Tri-County 75 include Ferguson Enterprises, a national distributor of plumbing and HVAC supplies; a Fortune 500 beverage company; Orlando-based Mechanical One, a home repair and maintenance company; NB Handy, a Virginia-based distributor of metals, HVAC, commercial roofing and machinery products; Coldest, a Florida-based manufacturer of water bottles; and a Fortune 500 third-party logistics firm.

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FloridaIndustrialLeasing ActivitySoutheast

Stonemont Financial Signs LG Electronics to Occupy 348,740 SF at Lakeland Commerce Center in Central Florida

by John Nelson

LAKELAND, FLA. — Stonemont Financial has signed LG Electronics USA to a full-building lease at Lakeland Commerce Center in Lakeland, roughly 30 miles from Tampa via I-4. The tech manufacturer will occupy the park’s Building 400, a 348,740-square-foot facility that was delivered in the first quarter of this year. LG Electronics will utilize the facility as a distribution center for its home appliances and consumer electronics. Stonemont Financial has also recently signed other tenants to join the tenant roster at Lakeland Commerce Center, including Lifting Gear Hire (36,420 square feet at Building 200) and a 75,740-square-foot lease at Building 100 with an undisclosed tenant. The LG Electronics lease brings the park to 51 percent leased, according to Stonemont Financial.

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CubeSmart-Conroe
DevelopmentIndustrialSelf-StorageTexas

SurePoint Delivers 744-Unit Self-Storage Facility in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — SurePoint Self Storage has delivered a 744-unit facility in Conroe, about 40 miles north of Houston. Operated by CubeSmart, the facility is located within Johnson Development’s Grand Central Park master-planned community and spans approximately 94,000 square feet of net rentable, climate-controlled space. The facility, which was originally announced in early 2022, is SurePoint’s 14th self-storage development in the greater Houston area.

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Sunrise-Commerce-Center-Round-Rock
DevelopmentIndustrialTexas

IDI Logistics Completes 310,689 SF Industrial Project in Round Rock, Texas

by Taylor Williams

ROUND ROCK, TEXAS — Developer IDI Logistics has completed a 310,689-square-foot industrial project in the northern Austin suburb of Round Rock. The three-building project represents Phase I of Sunrise Commerce Center, a 465,786-square-foot speculative development that will ultimately comprise five buildings on a 37-acre site. Phase I’s rear-load buildings range in size from 59,274 to 175,170 square feet. Project partners included 5G Studio Collaborative, Pacheco Koch and Adolfson & Peterson Construction. Construction began in May 2023.

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AcquisitionsIndustrialTexas

Timber Hill Buys Four Industrial Outdoor Storage Sites Totaling 23.1 Acres in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — Chicago-based private equity real estate firm Timber Hill Group has purchased four industrial outdoor storage (IOS) sites totaling 23.1 acres in the Rio Grande Valley city of Laredo. The sites at 701 Enterprise St. and 4006 Quivira Drive will have new facilities developed from the ground up that are expected to be complete by mid-2025. Timber Hill will renovate the existing facilities at the sites at 18729 and 18701 Metropolitan Road. The seller was not disclosed.

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AcquisitionsIllinoisIndustrialMidwestSelf-Storage

Marcus & Millichap Arranges Sale of 890-Unit Self-Storage Portfolio in Carbondale, Illinois

by Kristin Harlow

CARBONDALE, ILL. — Marcus & Millichap has arranged the sale of a four-property self-storage portfolio totaling 890 units in Carbondale, a city in southern Illinois. The sales price was undisclosed. There are 834 non-climate-controlled units and 56 climate-controlled units totaling 98,363 rentable square feet. The properties are located at 710 E. Main St., 1535 N. Reed Station Road, 707 E. College St. and 1295 Harmony Lane. Marla Čolić of Marcus & Millichap represented the undisclosed seller. A regional storage investment group purchased the portfolio. Steven Weinstock, broker of record in Illinois, assisted in closing the transaction.

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AcquisitionsIndustrialOregonWashingtonWestern

EQT Exeter Buys Three-Building Pacific Northwest Industrial Portfolio for $49.9M

by Amy Works

KENT, WASH. AND PORTLAND, ORE. — EQT Exeter has acquired a three-building, 312,604-square-foot industrial portfolio in Kent and Portland from an institutional investor for $49.9 million. The portfolio consists of Kent 36 & 39, a 63,500-square-foot distribution building and a 42,022-square-foot small-bay industrial building in Kent, as well as Northwest Corporate Park Building 11, a 207,082-square-foot distribution building in Portland. Brett Hartzell, Paige Morgan, Andrew Stark, Stuart Skaug and Cara Nolan of CBRE represented the undisclosed seller in the transaction.

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AcquisitionsGeorgiaIndustrialLoansSoutheastTennesseeTop Stories

CBRE Arranges $188.3M in Acquisition Financing for 1.9 MSF Industrial Portfolio in Atlanta, Nashville

by Kristin Harlow

ATLANTA AND NASHVILLE, TENN. — CBRE has arranged $188.3 million in acquisition financing for a 24-building industrial portfolio totaling 1.9 million square feet in metro Atlanta and Nashville. Philadelphia-based Stoltz Real Estate Partners was the borrower. The previous owner was not disclosed. The properties range in size from 12,600 to 222,683 square feet and were built between 1974 and 1998. The portfolio was 93 percent leased at the time of sale to 80 tenants with a weighted average lease term of 3.6 years. The 17 Atlanta-area assets total a little over 1 million square feet and are situated in last-mile locations. The Atlanta market offers industrial users convenient access to I-75, I-85, I-20 and the Hartsfield-Jackson Atlanta International Airport. Additionally, the Port of Savannah is approximately 250 miles away. The seven Nashville properties total 866,053 square feet and are home to 15 tenants. The Nashville market offers convenient access to 24 states and is situated within a one-day truck drive of 75 percent of U.S. markets, according to CBRE. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE arranged the financing through Starwood Property Trust. Loan terms were not provided. Stoltz currently owns and manages approximately 16 million …

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