JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth project four years ago, Alcon has expanded the size of its manufacturing facility by 70,000 square feet. The multi-year project will expand the company’s production capacity for DAILIES TOTAL1 contact lenses.
ST. LOUIS — Fairlane Industry Inc. has signed a 91,000-square-foot industrial lease renewal in St. Louis. The property is located at 5033 Southwest Ave. The gasket manufacturer plans to consolidate its other two St. Louis locations into the Southwest Avenue property. H. Meade Summers III of Hilliker Corp. represented the landlord, Van Velzer LLC, in the lease transaction. Ray Ragland, owner of Fairlane Industry, leased the property.
DENTON, TEXAS — Mohr Capital has sold ESAB North American Center, a 422,819-square-foot industrial building located on 30.1 acres at 2800 Airport Road in Denton. Built in two phases in 1970 and 2016, the property is fully leased to ESAB, an equipment and filler metal manufacturer. The asset is situated near the intersection of Interstates 35 East and 35 West in the Northwest Dallas industrial submarket. It features 18- and 36-foot clear heights, 19 dock-high doors, one drive-in door and 200-foot truck courts. New Mountain Net Lease Corp. purchased ESAB North American Center from Mohr Capital for an undisclosed price. Adam Herrin, Stephen Bailey, Mark West and Coler Yoakam of HFF represented Mohr Capital in the transaction. Brandon Chavoya and Michael George of HFF arranged a five-year, fixed-rate acquisition loan through KeyBank Real Estate Capital on behalf of New Mountain Net Lease.
RICHARDSON, TEXAS — NAI Robert Lynn has brokered the sale of an 82,960-square-foot industrial facility located at 1301 Apollo Road in Richardson. Baker Drywall Investments LLC, an affiliate of Mesquite, Texas-based BakerTriangle, purchased the property for an undisclosed price. BakerTriangle is a drywall and plaster specialty contractor with more than 1,300 employees across six offices in Texas. Michael Stanzel of NAI Robert Lynn represented the seller, The Trident Co., and Craig Phelps of JLL represented the buyer. Trident, a metal services company based in Richardson, sold the excess building but maintains a location nearby at 405 N. Plano Road, according to NAI Robert Lynn.
MONROE TOWNSHIP, WOODRIDGE, CARTERET AND CRANBURY TOWNSHIP, N.J. — Bridge Development Partners has agreed to sell a 10-building industrial portfolio totaling 3.4 million square feet, along with two land parcels, to Duke Realty for $515 million. Each of the assets are newly constructed facilities in the infill industrial markets in Northern New Jersey, Southern California and South Florida. The transaction will be completed in phases, with the first two phases having closed Sept. 27 and Oct. 25, and the final phase expected to close near the end of the year. In addition to the 10 completed properties, the acquisition includes two land parcels on which two properties totaling 852,745 square feet will be constructed, beginning this year. Once fully constructed the total cost of the portfolio will be nearly $700 million and span 4.3 million square feet. The first two phases include four properties in New Jersey: Bridge Point South Brunswick, a 488,884-square-foot facility at 773 Davidson Mill Road in Monroe Township; Bridge Point Meadowlands, an under construction 193,805-square-foot facility at 5 Ethel Blvd. in Woodbridge; Bridge Point Carteret, a 206,500-square-foot property at 900 Federal Blvd. in Carteret; and Bridge Point Cranbury, a 264,085-square-foot building in Cranbury.
YORK, PA. — STAG York, a wholly owned subsidiary of STAG Industrial, has acquired an industrial facility located at 2925 E. Market St. in York. Alliance Partners HSP sold the property for $19 million. Stauffers Biscuit Co. occupies 255,000 square feet of the 390,000-square-foot facility. The buyer has engaged Cushman & Wakefield to market the remaining 135,000 square feet of the property, which is suited for warehousing and distribution. Prior to selling, Alliance completed capital improvements at the property including a new roof, upgraded loading docks and enhanced truck circulation. Gerard Blinebury, Joseph Hill Jr., Pat McBride and Robert Yoshimura of Cushman & Wakefield represented the seller in the deal.
MISSOURI CITY, TEXAS — Electronics retailer Best Buy will occupy a new 550,000-square-foot distribution center on a 36.4-acre tract along U.S. Highway 90A in Missouri City, a southwestern suburb of Houston. Seefried Industrial Properties and 4M Investments LLC will co-develop the property, which is scheduled to open prior to the 2018 holiday season, according to realtynewsreport.com. Best Buy currently operates about 130 stores throughout Texas, including 13 in Houston proper.
AUSTIN, TEXAS — Dallas-based design-build general contractor ARCO/Murray has completed construction of Lakeline Storage, a 736-unit self-storage facility located at 11000 Lakeline Blvd. in Austin. The three-story, climate-controlled property consists of 115,000 square feet of gross rentable storage space, with both drive-up and interior units currently available for rental. The Jenkins Organization, a Houston-based real estate firm specializing in self-storage assets, will operate the facility.
RICHARDSON, TEXAS — NAI Robert Lynn has brokered the sale of an 82,960-square-foot industrial building located at 1301 Apollo Road in the northeastern Dallas metro of Richardson. Michael Stanzel of NAI Robert Lynn represented the undisclosed seller in the transaction. Craig Phelps of JLL represented the buyer, Baker Drywall Investments LLC.
EDWARDSVILLE, ILL. — TriStar Properties has sold two industrial warehouse and distribution centers at Gateway Commerce Center in Edwardsville, about 25 miles northeast of St. Louis, for $64 million. Dallas-based L&B Realty Advisors purchased the buildings, which total 1.1 million square feet. The properties are 100 percent leased to GEODIS and DB Schenker, which are international third-party logistics firms. TriStar teamed up with PCCP to develop the buildings at Gateway Commerce Center, a 2,300-acre logistics and bulk distribution park. Cushman & Wakefield is the leasing agent for the park.