DALLAS — Lee & Associates has brokered the sale of a 1,750-square-foot industrial facility located at 2029 E. Levee St. in Dallas’ Design District. The seller, Arte de Arquitectura de Mexico, will be moving from the facility into space at 3414 Doug Drive in Dallas in January 2018. Stephen Williamson of Lee & Associates’ Dallas/Fort Worth office represented the seller in the transaction. Hanes Chatman of Stream Realty Partners represented the buyer, Myrtle Faye Investments LLC.
HOUSTON — NAI Partners has arranged the sale of an 8,000-square-foot office/warehouse property located at 8715 Fallbrook Drive in Houston. Built in 2006, the property features 20-foot clear heights and 1.13 parking spaces per 1,000 square feet. Trey Martin of NAI represented the buyer, HCM Development LLC, in the transaction. Steve Adkisson of Adkisson Group represented the seller, 8715 Fallbrook LLC.
ST. LOUIS — Hilliker Corp. has arranged the sale of two industrial buildings in St. Louis for approximately $7 million. Serioplast, a plastic manufacturer based in Italy, purchased a 132,000-square-foot building located at 4400 Planned Industrial Drive. Service Metals Inc., an industrial valve distributor, purchased the property located at 4300 Planned Industrial Drive. Madison Warehouses built both properties in the 1990s. Hal Ball and Chris Taff of Hilliker Corp. represented the tenants in the transactions.
OAK CREEK, WIS. — Clover Technologies Group has signed a 16,047-square-foot industrial lease in Oak Creek, about 15 miles south of Milwaukee. The property is located at 305 E. Mahn Court. Nick Keys, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. Inc./CORFAC International represented the technology company in the lease transaction. Steve Sewart of Colliers International represented the landlord, FR/CAL Oak Creek LLC.
VERNON, CONN. — Sentry Commercial has brokered the sale of an industrial facility located at 77 Industrial Park Road in Vernon. Tradewinds Investments acquired the property from Mel-Pet Realty for $1.3 million. The 52,000-square-foot facility is occupied by multiple tenants. Sentry Commercial was the sole broker in the transaction.
HOUSTON — It’s much too soon to know the extent of the damage Hurricane Irma has inflicted on Florida and the Southeast, but a clearer view is starting to emerge with regard to the total impact that Hurricane Harvey has had on the Houston commercial real estate market. Hurricane Harvey, a Category 4 storm that made landfall on Aug. 25 near Rockport, Texas, was the strongest storm to hit the Texas Gulf region since 1961, according to CBRE Research. The hurricane dumped more than 50 inches of rain across the region in a matter of days and caused extensive property damage due to flooding. Moody’s Analytics estimates that the hurricane caused anywhere from $81 billion to $108 billion in property damage and economic loss, including the closing of Port Houston and many oil and gas refineries. If these estimates are correct, this would make it the second costliest natural disaster in the history of the United States, only trailing Hurricane Katrina in 2005. Just a few weeks later, Hurricane Irma became the first Category 4 storm to make landfall in Florida since 2004. In its wake, the hurricane has caused severe damage in Miami, the Florida Keys and Naples, as …
DALLAS — Nevada-based development firm Dermody Properties has completed Phase I of Logisticenter at Dallas, a two-building industrial park situated on 61.7 acres at the intersection of Bonnie View Road and Logistics Drive in South Dallas. Phase I delivered a 626,439-square-foot distribution center featuring 36-foot clear heights, 111 loading docks, 262 car parking stalls and 136 trailer stalls. The center is also expandable to 1.1 million square feet. MYCON General Contractors handled construction of the project.
FENTON, MO. — Alkem Laboratories and Beckwood Press Co. have signed industrial leases totaling 87,966 square feet at Fenton Logistics Park in Fenton. Alkem Laboratories, a pharmaceutical company, signed a 32,086-square-foot lease in the park’s first speculative building located at 2050 Fenton Logistics Blvd. Beckwood Press Co., a hydraulic equipment supplier, signed a 55,880-square-foot lease at the park’s second speculative building, which is currently under construction. Jon Hinds and Katie Haywood of CBRE represented the landlord and developer, KP Development. JLL and NAI Desco represented Alkem and Beckwood Press, respectively.
PORTLAND, ORE. — A joint venture between Security Properties Development Co. and Beijing Jade Investment Group has purchased the PepsiCo Distribution Center in Portland for an undisclosed sum. The center is located between NE 25th and NE 27th avenues, and NE Holladay Street and NE Sandy Boulevard. The JV plans to redevelop the five-acre urban property under the City of Portland’s “Large Site Master Plan” designation, offering market-rate and affordable housing, office, retail and other real estate types over the next several years.
SALEM, ORE. — A joint venture between PCCP and Capstone Partners has announced plans to develop Mill Creek Logistics Center, a 1 million-square-foot distribution facility in Salem. The facility is situated in the Mill Creek Corporate Center, a 548-acre master-planned industrial park. The JV acquired the land in late August from the State of Oregon – Department of Administrative Services. Development has commenced on the 62-acre parcel with completion anticipated in July 2018. Notable neighboring tenants include Home Depot and FedEx.