HOUSTON — McCord Development has broken ground on Lockwood Business Park, a 25-acre industrial flex campus situated within Generation Park, a 4,000-acre, master-planned development in northeast Houston. The industrial project will comprise three buildings totaling approximately 163,000 square feet built on a speculative basis. Completion of Lockwood Business Park is scheduled for the first half of 2018, according to the Houston Business Journal.
ELLENWOOD, GA. — Hillwood plans to build Clayton Commerce Center, a 797,580-square-foot distribution center located near Interstate 675 in Ellenwood, about nine miles east of Hartsfield-Jackson Atlanta International Airport. The facility will be Hillwood’s first metro Atlanta project built on a speculative basis. The property will include 36-foot clear heights, an ESFR sprinkler system, cross-dock configuration, 231 trailer storage spaces and 442 parking spaces for automobiles. Clayton County is the only county in metro Atlanta to be designated Tier 1 by the Georgia Department of Community Affairs, and Hillwood’s development is expected to offer potential tenants job tax credits and property tax reductions. Hillwood has selected Reliant Real Estate Partners to lease Clayton Commerce Center, which is expected to come on line in December.
MEMPHIS, TENN. — NAI Saig and Avison Young have arranged the $33.1 million sale of a nine-property, 1.1 million-square-foot industrial portfolio located within Memphis International Airport Center (MIAC). Faropoint Ventures purchased the portfolio from Connecticut-based Greenfield Partners LLC. The portfolio was 93.1 percent leased at the time of sale to tenants such as FedEx, Kohler, United States Postal Service and DHL. Brian Califf of NAI Saig represented Faropoint in the transaction, and Shane Soefker and Jacob Biddle of Avison Young represented Greenfield Partners. Faropoint has retained Califf and Elliot Embry of NAI Saig to handle the portfolio’s leasing assignment.
SCHILLER PARK, ILL. — PREMIER Design + Build Group LLC will construct a 157,525-square-foot industrial property in Schiller Park near the Chicago O’Hare International Airport. The project will include demolition of a bakery in order to build two separate industrial buildings in its place. Easily accessible to I-294, the property will feature an 84,700-square-foot building and a 72,825-square-foot building. Both facilities will feature 32-foot clear heights, truck courts, loading docks, ESFR sprinklers and retention ponds. Each building will be able to accommodate multiple tenants. Mark Melone, Christopher Kiziak and Zach Gadomski of PREMIER are responsible for the project. Cornerstone will provide architectural services, and Swift Structural Design and Knight Engineering will provide engineering expertise. Bridge Development Partners is the developer. The project will be completed by the end of the second quarter this year.
JANESVILLE, WIS. — Coldwell Banker Commercial has brokered the sale of a 26,029-square-foot airplane hangar located at 4618 S. Columbia Drive in Janesville, about 40 miles south of Madison. The hangar, previously used for Blackhawk Technical College’s aircraft maintenance program, was vacated when the program was discontinued in 2013. Meisner Aircraft Inc. purchased the property for an undisclosed price. Bill Mears of Coldwell Banker represented both parties in the transaction.
NORTH LAS VEGAS, NEV. — VanTrust Real Estate has commenced construction on a new building at Northgate Distribution Center in North Las Vegas. The 170-acre site is located at 4410-4490 Nexus Way. This is the fifth of eight buildings VanTrust intends to erect on the site, which will eventually feature 3.2 million square feet of distribution space. This building is scheduled for completion by December. Martin Harris Contracting is building the property, which HPA Architecture designed.
PASADENA, TEXAS — JLL has negotiated a 68,333-square-foot lease renewal on behalf of Wrist USA Inc., a Houston-based logistics firm, at East Belt Business Park in Pasadena. Built in 2007, the industrial property is located at 1485 Sam Houston Parkway and features a cross-dock configuration, wide truck courts and 24-foot clear heights. Ryan Fuselier and Travis Secor of JLL represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord, Morgan Stanley.
VIRGINIA BEACH, VA. — Harvey Lindsay Commercial Real Estate has brokered the $8.5 million sale of a 400,000-square-foot industrial development located at 1440 London Bridge Road in Virginia Beach. A local investment group purchased the facility from General Foam Plastics Corp. The property comprises two 200,000-square-foot warehouses on 33 acres, with 10 acres reserved for future development. Lindsay Himelright of Harvey Lindsay represented the seller in the transaction, and John Lee & Associates represented the buyer.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a self-storage portfolio in Chicago’s West Loop for $13.5 million. The portfolio consists of three buildings totaling 60,000 square feet. Extra Space occupies the buildings, which are located at 1230-1242 W. Washington Blvd. Chad Schroedl, Drew Dillon, and Scott R. Maesel of SVN brokered the transaction. Neither the buyer nor the seller was disclosed.
LANCASTER, TEXAS — Crow Holdings Capital-Real Estate will break ground this month on I-35 Logistics Crossing, a two-building, 1.2 million-square-foot industrial park located at the intersection of Interstates 35 and 20 in the south Dallas suburb of Lancaster. The property, which is slated for an early 2018 delivery, will feature 36-foot clear heights, 185-foot truck courts and trailer storage. Kurt Griffin and Nathan Orbin of Cushman & Wakefield will handle leasing of the property.
