NEWARK, DEL. — CBRE has negotiated the sale of 322 Ruthar Drive in Newark for an undisclosed amount. DuPont Transportation & Advanced Polymers acquired the 120,000-square-foot industrial facility. CBRE represented DuPont in the transaction. The seller was undisclosed. DuPont has committed to invest $45 million in the new facility, which will increase its manufacturing capacity for DuPont Kalrez, a specialized engineered material used in a variety of sealing applications.
SAN ANTONIO — HPI Horne Storage, a joint venture between Austin-based HPI Real Estate Services & Investments and self-storage industry veteran Hugh Horne, is developing a 979-unit facility located at 10126 Potranco Road in San Antonio. The property will total 134,000 square feet of net rentable space and all its units are climate-controlled. The joint venture will own and operate the facility and a publicly traded self-storage REIT will manage it. Completion is slated for April 2019. SBS Construction is serving as general contractor and Arch-Con Architecture is providing design services. Elsewhere in San Antonio, the joint venture has another development site under contract at 12727 Vista Del Norte and is set to close on a third site near The Pearl in June.
EL PASO, TEXAS — ViaWest Group, a Phoenix-based development and management firm, has sold a portfolio of industrial properties in El Paso totaling 245,945 square feet across four assets. The portfolio was 40 percent leased when ViaWest Group acquired it in 2015 and was 94 percent leased at the time of sale. Arturo De La Mora and Jonathan Bryan of CBRE represented ViaWest Group in the sale. Bill Caparis, also with CBRE, represented the buyer, Stonelake Capital Partners.
POMPANO BEACH, FLA. — Bridge Development Partners has signed its first tenant at Bridge Point Powerline Road, a 467,832-square-foot industrial park under development in Pompano Beach. TSF Sportswear LLC, a Florida-based wholesale apparel distributor, will relocate its existing Pompano Beach headquarters to the new facility, fully occupying the 172,927-square-foot Building 1. Tony Hoover of CBRE arranged the lease on behalf of Bridge, the project developer. Bridge Point Powerline Road will feature three buildings and include Class A warehouse, distribution and flex/showroom space. All buildings will feature 32-foot clear heights, 54-foot column spacing, 60-foot speed bays, T-5 energy efficient lighting and ESFR sprinkler systems. Bridge expects to wrap up construction on the park in the third quarter of 2019.
WAUKEGAN, ILL. — Bridge Development Partners LLC has unveiled plans to develop Bridge Point North Phase II, which consists of three industrial buildings totaling 926,947 square feet in Waukegan. Completion is slated for the end of this year. One of the buildings is nearly 60 percent pre-leased to Bolke-Miller Co., a contract packager headquartered in Waukegan. Bridge Point North is a 225-acre business park owned by a joint venture that includes Bridge Development Group, Banner Oak Capital Partners LP, Globe Corporate, Wanxiang America Real Estate Group and an undisclosed institutional investor. Whit Heitman, Sam Badger, Jared Paff and Brad Weiner of CBRE have been named as the leasing representatives for Bridge Point North.
SAN ANTONIO — H-E-B, the leading grocer in Texas by market share, will open an 871-acre distribution center in San Antonio, the city in which the grocery chain is based. Situated on the city’s east side, the facility will also allow for food processing and storage. According to local news outlet KSAT, the project is expected to create 300 new jobs over the next five years. Construction is scheduled to begin later this year with a target completion date of late 2019.
ADDISON, ILL. — ML Realty Partners has purchased a 55,120-square-foot industrial building in Addison, about 20 miles west of Chicago. The purchase price was not disclosed. The single-tenant property is located at 31 S. Mitchell Court. Justin Lerner and Joe Karmin of Transwestern represented the undisclosed seller. Transwestern will also handle lease-up of the building.
GRAND RAPIDS, MICH. — Corrigan Worldwide Inc. has signed a 21,600-square-foot industrial lease in Grand Rapids. The company, which specializes in residential and commercial relocation services, is in the process of expanding its Grand Rapids facility. The property is located at 1120 36th St. Kevin Tamer of CORE Partners represented the tenant. John Kupier of Colliers International represented the undisclosed landlord.
DALLAS — Lee & Associates has negotiated the sale of a 36,227-square-foot industrial asset located at 121 La Paz St. on Dallas’ southeast side. Corbin Blount and Nathan Denton of Lee & Associates represented the seller, La Paz Partners Ltd., in the transaction. Caleb Bates of Bates & Myers Co., represented the buyer, Jessup Charitable Remainder Trust.
MICHIGAN, INDIANA AND OHIO — Global Net Lease Inc., a real estate investment trust focused on the acquisition of net lease industrial properties, has acquired five industrial assets representing approximately 1.4 million square feet for $83 million. Three of the buildings are located in Michigan with one in Indiana and one in Ohio. The properties are leased to Contractors Steel Co., a steel service supplier. The industrial buildings included in this transaction comprise all of Contractors Steel Co.’s facilities and also house the company’s offices, central inventory and processing depot.
