FARMERS BRANCH, TEXAS — Transwestern has arranged the sale of Spring Valley Tech Center, a 61,139-square-foot flex property located at 4200-4288 Spring Valley Road in Farmers Branch, a northern suburb of Dallas. The property was built in 1979 and includes industrial features such as 12- to 18-foot clear heights and three dock-high loading doors. Steve Rowland and Timothy Veler of Transwestern represented the buyer, LCG Spring Valley LLC, in the transaction. Hal Pollard, also with Transwestern, represented the seller, 669 Fairway LLC.
HOUSTON — Cypressbrook Co. has negotiated a 40,716-square-foot industrial lease at 11850 Hempstead Road in Houston. George Montes of Cypressbrook represented the tenant, flooring and cabinetry firm Horizon Forest Products LP, in the lease negotiations. Darryl Noon of Transwestern represented the landlord, Teachers Insurance and Annuity Association of America (TIAA).
PHOENIX — Wabash National Trailer Center has completed the disposition of an industrial property located at 2830 S. 51st Ave. in Phoenix. An undisclosed buyer acquired the property for $6.9 million. The property features 50,000 square feet of industrial space, which the seller used as a tractor trailer repair and maintenance facility. Isy Sonabend of NAI Horizon handled the transaction.
KATY AND WEBSTER, TEXAS — Colorado-based American Furniture Warehouse (AFW) will open two stores totaling 853,700 square feet in metro Houston. The company will open a 498,700-square-foot store on a 29-acre site in Katy, located west of Houston, as well as a 355,000-square-foot store on a 23-acre tract in Webster, a southeastern suburb of Houston. Both properties will feature showrooms and storage areas. Ben Brown of Houston-based brokerage firm Baker Katz represented AFW in the acquisitions of both sites. The stores will be the company’s first locations in Texas. Construction on the Katy store will begin in late fall/early winter, while work on the Webster store will commence in July or August. Both projects are expected to have construction periods lasting 10 to 12 months.
CONROE, TEXAS — Galdisa USA, a subsidiary of Mexican food producer Galdisa, will open a 47,000-square-foot industrial facility in Conroe, about 40 miles north of Houston, on Friday, July 6. About 25 new jobs will be created at the facility, which is the company’s first in the United States. Galdisa is involved in the production and sale of products such as peanuts, pumpkin seeds, chickpeas and fava beans for retail and industrial uses.
HOUSTON — Colliers International has secured a 113,152-square-foot industrial lease at 5301 Polk St. in southeast Houston. The tenant is CustomSpace, a provider of full-service industrial space for tenants looking for footprints in the 250- to-10,000-square-foot range. Barkley Peschel and Mike Davis of Colliers International, along with Trey Erwin of Lee & Associates, represented CustomSpace, which now has eight locations nationwide.
CINCINNATI — Wilson Investment Properties has acquired a five-building industrial property spanning 100,656 square feet in metro Cincinnati. The fully occupied property is located eight miles from downtown Cincinnati and three miles from the Cincinnati/Northern Kentucky International Airport. The property was acquired at a 9.1 percent cap rate. Wilson Investment is a Silicon Valley-based real estate investment firm. Neither the purchase price nor the seller was disclosed.
HIALEAH, FLA. — ASB Real Estate Investments has acquired a 302,000-square-foot industrial property in Hialeah for $24.3 million. The warehouse is located at 215 S.E. 10th Ave., roughly 12 miles northwest of Miami and roughly two miles from Miami International Airport. The facility includes 23,000 square feet of office space and is fully leased on a long-term basis to Synergy Custom Fixtures, a custom counters and fixtures manufacturer. ASB acquired the property from Terreno Realty Corp. on behalf of its core vehicle, the Allegiance Real Estate Fund. Lincoln Property Co. (LPC) brokered the transaction on behalf of ASB, which has retained LPC to manage the property. The building features 200 parking spaces and 22 dock doors.
LOS ANGELES — Rexford Industrial Realty has acquired a single-tenant industrial property located at 12154 Montague St. in the Pacoima neighborhood of the Los Angeles-San Fernando Valley submarket. An undisclosed seller sold the property for $22.5 million, or $183 per square foot, in an off-market transaction. Situated on 4.9 acres, the fully occupied property features 122,868 square feet of industrial space.
SAN DIEGO — JLL has arranged the sale of two light industrial buildings located within Scripps Ranch Business park in San Diego. Carroll Canyon Properties acquired the properties, located at 9965 Carroll Canyon Road and 9850 Businesspark Ave., from Hill Properties for an undisclosed price in an off-market transaction. At the time of sale, the buildings were fully leased to Kone and Foresight Sports. The two-building asset consists of 27,801 square feet on a 2.1-acre corner lot. Sach Kirpalani, Bob Prendergast and Lynn LaChapelle of JLL represented the seller in the deal.