AUSTIN, TEXAS — The Jenkins Organization (TJO) has acquired land in north Austin for the development of Northgate Storage, an 816-unit self-storage facility. The property will span 127,000 gross square feet and will offer climate- and non-climate-controlled units, as well as gated entry and electronic security monitoring. The opening is currently slated for May 2019.
FORT WORTH, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has sold a 362,000-square-foot speculative warehouse in Fort Worth. The property is located within Railhead Industrial Park, a 633-acre, rail-served development. The building, which was completed in June, features 32-foot clear heights, 60 trailer parking spaces and 160 car parking spaces. An undisclosed institutional investor purchased the property after acquiring the adjacent, 299,810-square-foot property last year.
MISSION, TEXAS — JLL has negotiated the sale of a 270,084-square-foot industrial property located at 802 Trinity St. in Mission, a city in the Rio Grande Valley. Boston-based STAG Industrial acquired the warehouse property from Colimar Inc. for an undisclosed price. Dustin Volz, Zane Marcell and Grant Matthews of JLL, along with Edward Villareal of South Texas Commercial Real Estate, brokered the deal.
HAMPSHIRE, ILL. — Realty Metrix Commercial has brokered the sale of a 50-acre industrial development site in Hampshire, about 40 miles southeast of Rockford. The sales price was not disclosed. The buyer, RMC Holdings Hampshire LLC, plans to develop Metrix Industrial Park. The site is located at the northwest corner of I-90 and Route 20. The park will cater to users in the trucking and cartage industries and is adjacent to a 33-acre Love’s Travel Stop that is currently under construction. Completion of the industrial park is slated for fall 2019.
LANGHORNE AND TREVOSE, PA. — Cushman & Wakefield has negotiated the $44.8 million sale of a light industrial portfolio in Langhorne and Trevose. The 607,890-square-foot portfolio includes 10 buildings and is currently 80 percent occupied by a mix of national, regional and local tenants. Robert Yoshimura, Joseph B. Hill, Eric Mattson, Gerry Blinebury, Jonas Skovdal and Joseph R. Hill of Cushman & Wakefield represented the seller, High Street Realty Co., in the transaction. The Arden Group was the buyer.
BRASELTON, GA. — Monmouth Real Estate Investment Corp. has acquired a newly constructed industrial building in Braselton, roughly 50 miles northeast of Atlanta, for $61.1 million. Delivered earlier this year, the 373,750-square-foot building is net-leased for 15 years to FedEx Ground Packaging System. The facility is situated on 93 acres at 650 Braselton Parkway off of Interstate 85. New Jersey-based Monmouth’s portfolio includes 111 properties totaling 21.2 million square feet.
HOUSTON — NAI Partners has negotiated a 122,200-square-foot industrial lease at 11833 Cutten Road in Houston for e-commerce firm Western Post USA. The property was built in 2018. Chris Caudill and John Ferruzzo of NAI Partners represented the tenant in the lease negotiations. Allison Bergmann and Jim Foreman of Cushman & Wakefield represented the landlord, Industrial Property Trust.
AUSTIN, TEXAS — Transwestern Investment Group (TIG) has sold Park 96, a 99,000-square-foot industrial portfolio in Austin. The portfolio was built in 1999 and consists of three 33,000-square-foot buildings. Each building features 20-foot clear heights and convenient access to Interstate 35, U.S. Route 183 and U.S. Highway 290. The property was 92.4 percent leased at the time of sale.
FRANKLIN, N.H. — General Properties has broken ground on Mercantile Place, a three-building flex complex in Franklin. Located on the Pemigewasset River, the property will incorporate a mix of office and industrial tenants. The tenant roster will include FBG Tank Services, a branch of First Business Group; Sustainable Refining, a formulator of vehicle undercoating products; Poly Lining Systems Inc.; Online Motor Deals LLC and a vehicle service maintenance center. GP Property Management, a division of General Properties LLC, will manage the complex.
ORLANDO, FLA. — Tavistock Development Co. has partnered with McCraney Property Co. to co-develop 1.3 million square feet of industrial space at Infinity Park, Tavistock’s 206-acre, mixed-use development located along John Young Parkway in Orlando. The joint venture expects to break ground on the speculative light distribution and logistics buildings by the end of the year. Infinity Park currently houses a 113,000-square-foot office building and an adjacent 125,000-square-foot office building currently under construction. Orange Lake Resorts, which joined Infinity Park last year, will house its corporate campus at the buildings. Once complete by the end of the year, the two buildings will house nearly 2,100 employees. At full build-out, the park will feature industrial and hotel space, approximately 50,000 square feet of retail space and up to 500,000 square feet of office space available for build-to-suit and pre-lease opportunities. David Murphy and Monica Wonus of CBRE are handling the leasing assignment for the industrial portion of Infinity Park. John Pottinger and Scott Bell of Tavistock are handling leasing for the project’s retail, hospitality and office segments.
