COLUMBUS, TEXAS — Chicago-based Brennan Investment Group LLC has acquired a nine-building manufacturing campus situated on 15 acres at 200 Texas Ave. in Columbus, about 75 miles west of Houston. The properties were 100 percent leased to KW International, which produces oil and gas production and measurement equipment, at the time of sale. Brennan will lease back the space to the tenant, which houses its headquarters at the property.
GARLAND, TEXAS — Plastipak Packaging, a Michigan-based supplier of plastic bottles to companies such as Dr. Pepper, PepsiCo and Kraft Heinz, will invest $10 million in its production facility in Garland, a northeastern suburb of Dallas. The expansion of the plant, which spans roughly 400,000 square feet and has been operational since 1996, is expected to create six new jobs.
MISSOURI CITY, TEXAS— NAI Partners has arranged a 30,000-square-foot industrial lease at 14039 S. Gessner Road in Missouri City, a southwestern suburb of Houston. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, Roadrunner Ltd., in the lease negotiations. Wes Williams of Boyd Commercial represented the tenant, Almofa LLC, a Houston-based furniture supplier.
BRASELTON, GA. — FedEx Ground, a subsidiary of FedEx Corp., has developed a new distribution center located at 350 Braselton Parkway in Braselton, about 50 miles northeast of Atlanta. The 500,000-square-foot facility is part of the company’s network expansion plan that includes the addition of 17 major hubs and 500 facilities either expanded or relocated since 2005. A ribbon-cutting ceremony for the facility is scheduled for Thursday, Oct. 25. The building will open with more than 350 employees, and FedEx Ground plans to add positions as the demand for service grows. The new facility will be able to sort up to 15,000 packages per hour. FedEx Ground has 105,000 employees, more than 600 distribution hubs and local pickup-and-delivery stations and 63,000 motorized vehicles operated by 5,600 locally owned small businesses to transport more than 8.3 million packages daily. The daily volume of packages that FedEx Ground handles has more than doubled in the past 10 years.
DORAL, FLA. — Foundry Commercial, with Miller Construction Co. as general contractor, is developing two new Class A industrial buildings totaling 318,043 square feet at Miami Central Commons, a business park located at 2301 N.W. 107th Ave. in Doral. Both buildings are scheduled for completion in mid-2019. The $20.6 million tilt-wall construction project is creating 155,350 square feet of showroom space with Building 1 and 162,693 square feet of industrial distribution space with Building 2. Designed by Boca Raton, Fla.-based RLC Architects, the facilities will feature 32-foot clear heights, 54-foot column spacing and a 60-foot speed bay. Part of the construction process includes the relocation of the main entry and security check-in area, as well as the entire parking area around the existing buildings. Miller Construction is demolishing the park’s original 1980’s administration and security check-in building as the site is being reconfigured to accommodate Building 2.
While there has been a strong demand for investment properties in Richmond, there remains a limited availability of both freestanding facilities and portfolio deals. In recent investment activity, the Byrd Corporate Park in eastern Henrico County sold to a joint venture between Dreyfuss Investments and Wells Holding Group for $31.3 million after previously transferring in 2011 for $26.3 million. The 10-building flex complex spans 475,783 square feet and was 80 percent leased at the time for sale. The three-building Interport Business Center, also located in eastern Henrico, sold at the end of 2017 to MDH Partners, adding to its Richmond International Airport area holdings. Containing 620,296 square feet total, the complex sold for $29 million and is now fully leased. Leasing Buoys Occupancy Local expansion has remained strong, a trend consistent with the Richmond market, and regional and national companies with an existing presence in the area have also announced expansions. The metro area has also seen the introduction of new manufacturers with large industrial footprints, further evidencing the benefits of the area’s location and infrastructure. At the mid-year mark, the Richmond area’s industrial market has continued to strengthen, closing with an overall occupancy rate of 94 percent in the …
RICHMOND, TEXAS — Sporting goods provider Slater Sports LLC has sold 727 Plantation Drive, a freestanding, 62,132-square-foot industrial asset located in Richmond, a southwestern suburb of Houston. Burdette Huffman and Josh Jacobs of EDGE Realty Capital Markets represented Slater Sports in the transaction. Other terms of sale were not disclosed.
DALLAS — Marcus & Millichap has arranged the sale of a 50,708-square-foot industrial/flex property located at 13335 Floyd Circle in Dallas. Cody Payne and Wayne Bares of Marcus & Millichap represented the seller, a private investor, in the transaction. Payne procured the buyer, also a private investor. The property, which drew more than 15 offers and sold at list price, was 100 percent leased at the time of sale.
ITASCA, ILL. — J.C. Anderson has completed a 108,000-square-foot office and warehouse build-out for Glass Solutions Inc. in Itasca. The property is located at 960 Maplewood Drive. The scope of the project included a 23,000-square-foot office build-out and an 85,000-square-foot warehouse build-out. The office portion includes private offices, a collaboration area, executive conference room, break room and new locker rooms. The warehouse features new electrical, LED lighting and heating units. J.C. Anderson also reworked the dock and delivery areas to create a more efficient flow. Seth Erlich, Andrew Mott and Steve Perry of J.C. Anderson led the project team. Scot Ferguson of Antunovich Associates provided architectural services.
PERRIS AND SAN BERNARDINO, CALIF. — Rockefeller Group has completed construction of two projects totaling 1.9 million square feet of industrial space in the Inland Empire. Upon completion, the company sold two of the of four buildings, totaling 1.1 million square feet. Located in Perris, Optimus Logistics Center includes two speculative buildings totaling approximately 1.5 million square feet. Ferguson Enterprises, a U.S. distributor of plumbing supplies, PVF, waterworks and fire and fabrication products, acquired a 1 million-square-foot distribution facility at the center. The company plans to move and expand its Ontario, Calif., operations to the new facility. The move will enhance Ferguson’s distribution capabilities from 600,000 square feet to more than 1 million square feet. Additionally, Rockefeller Group sold an 81,286-square-foot industrial building at Tri-City Industrial Complex in San Bernardino to 4F Capital. Optimus Logistics Center features a 407,000-square-foot building available for sale or lease, and Tri-City Industrial has a 344,249-square-foot property available. Both buildings can be subdivided to approximately 138,000 square feet to accommodate a variety of end-user requirements. Mike McCrary, Peter McWilliams and Sharon Wortmann of JLL represented Rockefeller Group in the Optimus transaction, while Darla Longo, Bill Pellington, Len Santoro, Joey Sugar and Kevin Wille of CBRE …
