GARLAND, TEXAS — Fort Worth-based investment firm Fort Capital has acquired 4040 Forest Lane, a 603,795-square-foot industrial building in Garland, a northeastern suburb of Dallas. The Class B property was built in 1960 and is designed to house manufacturing tenants. The seller was not disclosed. With this acquisition, Fort Capital now owns and operates more than 1.1 million square feet of industrial space.
BROOKSHIRE, TEXAS — Houston-based Welcome Group has broken ground on a 137,434-square-foot industrial facility and new headquarters for multinational diesel engine manufacturer MAN Energy Solutions in Brookshire, about 40 miles west of Houston. The facility will be located within the new, 650-acre Twinwood Business Park and will be able to house more than 140 employees. Approximately a quarter of the square footage will be office space.
WINFIELD, ILL. — Associated Bank has provided a $13 million loan for the construction of a 265,550-square-foot speculative industrial building in Winfield, about 35 miles west of Chicago. The property, named North Avenue Commerce Center, is located along St. Charles Road. Construction is slated for completion by the end of this year. Conor Commercial Real Estate, the real estate development and investment arm of The McShane Companies, was the borrower.
JURUPA VALLEY, CALIF. — Newport Beach, Calif.-based CapRock Partners has broken ground on Serrano Business Park in Jurupa Valley within the Inland Empire corridor. Situated on 18 acres, the three-building industrial development will feature units ranging from 31,220 square feet to 179,030 square feet and deliver 327,000 square feet of modern industrial space to the market. Each building will offer two percent prism skylights and can provide up to 4,000-amp, 277/480-volt electrical power. Additionally, the properties will meet sustainability standards consistent with California Green Building Standards Code. To complement tenant needs, the project will incorporate 4,500 square feet of executive office space positioned between the three buildings. The facilities will also include a minimum door clearance of 32 feet and ample secured parking and truck courts. Serrano Business Park is scheduled for delivery in 2019.
Fairfield, N.J. — The Hampshire Companies has sold 16 Law Drive, a 71,048-square-foot industrial facility in Fairfield. JEEN International purchased the facility for an undisclosed price. JEEN International is a manufacturer of cosmetic ingredients for the personal care market. Located on more than six acres, the property features 65,893 square feet of warehouse space and 5,155 square feet of office space. The building also offers 16-foot clear heights, two loading docks, two drive-in doors and 102 parking spaces.
CHICAGO — Colliers International has arranged the sale of a 221,522-square-foot industrial building in Chicago for an undisclosed price. The property sits on 7.3 acres at 3355 W. 31st St. The building features a clear height of 32 feet and 14 crane bays. Steve Kohn and Mike Senner of Colliers represented the seller, Crown Steel Sales. Ed Wabick of Paine Wetzel represented the buyer, Cinespace Chicago Film Studios. Cinespace specializes in the development, management and operation of studio facilities.
LAS VEGAS — Panattoni Development Co. has broken ground Centennial Commerce Center, located at 6405 E. Centennial Parkway in North Las Vegas. Situated on 10.4 acres, the property will feature 204,000 square feet of speculative industrial space. Valued at $16 million, the cross-dock facility will feature 32-foot clear heights, an ESFR sprinkler system, LED warehouse lighting and flexible office build-outs. Additionally, the property will be designed with flexibility to accommodate up to four 51,000-square-foot tenants. Speedway 10 Industrial, a joint venture between LaSalle Investment Management and Panattoni Development, is the owner of the development. Vertical construction is slated to begin this month, with completion scheduled for December. Greg Tassi and Donna Alderson of CBRE are marketing the property for lease.
SAN JOSE, CALIF. — Newmark has arranged $25.6 million in permanent financing for a research and development building located at 5500-5550 Hellyer Ave. in San Jose. Robert Slatt, Jeff Wilcox and Charlie Kokernak of Newmark secured the 10-year, fixed-rate loan, which features a 30-year amortization schedule through a conduit lender for the undisclosed borrower. The two-story property is divided into three tenant spaces and is fully occupied by industrial flex and office users.
ADDISON, TEXAS — SVN | Dunn Commercial has arranged the sale of a 24,190-square-foot industrial asset in Addison, a northern suburb of Dallas. The property, which includes 8,000 square feet of office space and a fenced outside storage area, is leased to a company that manufactures semiconductors. David Dunn and Courtney Dunn of SVN | Dunn Commercial represented the seller in the transaction. Other terms of sale were not disclosed.
BESSEMER, ALA. — Amazon has announced plans for its first fulfillment center in Alabama. The Seattle-based e-commerce company will operate an 855,000-square-foot facility located in Bessemer, roughly 16 miles southwest of Birmingham. The development cost was not disclosed, but local media outlets report that the facility represents a $325 million investment. Amazon, which currently operates a sortation center in Mobile, expects to bring 1,500 jobs to the new facility, which will utilize Amazon Robotics. The Birmingham Business Alliance led several aspects of the project, including presentation of the site, infrastructure issues and local incentives. According to Bessemer Mayor Kenneth Gulley, Amazon’s new facility will be the single-largest private investment in the history of the city. No construction timeline was given.
