DESOTO, TEXAS — Alliance Architects, Inc. has completed design services for a speculative industrial building in DeSoto. Located on 64 acres in USAA Real Estate Co.’s Southfield Park 35, building one totals 1.1 million square feet and is being developed by Seefried Properties. Alliance Architects designed the 157-acre master plan, which features Class A building designs with build-to-suit flexibility and direct access to I-20 and I-35 in south Dallas, for Seefried.
CHULA VISTA, CALIF. — Castlerock Investments has purchased a 43,395-square-foot industrial park in Chula Vista for $6.7 million The park is located at 871 Harold Place in the San Diego submarket. Tracy Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office represented the seller, Seymour/Lewis Development.
It’s safe to say that the Rio Grande Valley, now also referred to as Rio South Texas, is one of the most dynamic and fastest growing regions in the state. The four-county region at the southernmost tip of Texas bordering Mexico and hugging the Gulf of Mexico consists of Hidalgo, Cameron, Starr and Willacy counties. With nine ports of entry, five international airports, a first-class deep water port, a population of over 1.2 million and three interstates, it is easy to see why the Rio Grande Valley is one of the largest trade corridors in the world. Growth in all aspects, including retail, office, medical, education, industrial and housing, brought nearly $700 million in construction permits for all of 2014. Retail Sales tax revenue being sent back to the cities continues to increase at a healthy pace. Walmart’s opening of 12 new stores in the region affirms the positive growth and the confidence in the valley. The impact a Super Walmart has is evident with a city’s sales tax revenue. Two new stores in Donna and Elsa increased local sales tax revenue 14 percent and 57 percent, respectively. Retail sales in the region continue to rise, showing the strength of …
COLUMBUS, OHIO — Duke Realty Corp. has broken ground on a 421,000-square-foot bulk warehouse for BASF Corp. The build-to-suit facility is being constructed on a 33-acre site in Rickenbacker Global Logistics Park, a 1,576-acre, multi-modal industrial site being developed through a partnership between Duke Realty, the Columbus Regional Airport Authority and Capitol Square Ltd. The facility will be adjacent to Rickenbacker Parkway and in close proximity to Norfolk Southern’s intermodal terminal and Rickenbacker International Airport. The cross-docked building will feature 32-foot clear ceiling heights; 28 dock doors with levelers, bumpers, seals and lights, staging for 50 trailers next to the building and a 135-foot truck court. Completion of the warehouse is set for 2016.
CONROE, TEXAS — Gator Fabrication LLC, a heavy steel fabrication company, has moved into the former JM Eagle Plant in Conroe. The property, located at 101 E. Ave. M, consists of two heavy manufacturing buildings totaling 80,878 square feet and is situated on approximately 18 acres of stabilized land. Rob Banzhaf and Krissie Vanyo of Newcor Commercial Real Estate represented Gator Fabrication in the lease negotiations. Prior to occupancy, the landlord completed a makeover of the buildings, including all new electrical, building shell and crane upgrades. Jasper Tramonte of Tramonte Brokerage LLC represented the landlord, David F. Bolger Revocable Trust.
HOUSTON — NAI Partners has negotiated the sale of a 79,444-square-foot, multi-tenant industrial property located at 16745 N. Freeway in Houston. The property is anchored by a Guitar Center retail store. Doug Pack and Josh Lass-Sughrue of NAI Partners negotiated on behalf of the seller. The buyer is a local investor.
JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the $90.5 million sale of Coach’s distribution and fulfillment center in Jacksonville. The Class A, 851,696-square-foot property is located on Coach Way within the 425-acre Jacksonville International Tradeport, which houses other global companies such as Mercedes-Benz. The facility includes 50,000 square feet of office space and serves as the hub for all distribution and fulfillment services of Coach products throughout North America. Mike Davis, Michael Lerner, Rick Brugge, David Bernhaut, Karl Johnston and Tyler Newman of Cushman & Wakefield represented the seller, Pantheon Properties, in the transaction. The buyer was Intercontinental Real Estate Corp. According to Cushman & Wakefield, the transaction is the largest non-portfolio industrial sale in the Jacksonville market since 2013.
UNION CITY, CALIF. — Spacesonic is relocating its operations from San Carlos to Union City. The new 70,800-square-foot space is located at 30300 Union City Blvd. Spacesonic manufactures and distributes custom sheet metals. CBRE’s Chip Sutherland and Soroush Kaboli of Soroush Kaboli Brokerage Services represented Spacesonic. Greig Lagomarsino, Sean Sabarese and Nick Ousman of Colliers International’s Oakland office represented the landlord.
JEFFERSONVILLE, IND. — America Place has completed construction of its second industrial building at River Ridge Commerce Center in Jeffersonville, approximately three miles outside of Louisville. America Place has invested over $100 million in the River Ridge development. The 252,515-square-foot building completed in the second phase comes on the heels of the 150,000-square-foot facility that America Place built last year on the River Ridge Campus. A third building, which will span 200,000 square feet and be located at the intersection of Salem Road and Trey Street, is slated for completion later this year. America Place is in negotiations with several potential tenants for the buildings completed in Phases II and III, but no leases have been signed yet.
HOUSTON — Boyd Commercial LLC/CORFAC International, a full-service commercial real estate services provider in Houston, has negotiated the sale of a 21-acre Houston property to Summer Street Retail LP, a business entity backed by Gulf Coast Commercial Group. The Houston Business Journal reported that the property sold for $40 million. Previously owned by Texas Tile Manufacturing LLC, an affiliate of Tarkett USA Inc., the property was marketed for sale by Conrad Bernard of Boyd Commercial/CORFAC, as well as the firm’s founder, J. Michael Boyd. They were the only brokers involved in the transaction. Tarkett ceased manufacturing at its facility located at 1705 Oliver St. in Houston last fall and used portions of the property as warehouse product as recently as June. The French-owned company had occupied the site since 1932, constructing in excess of 750,000 square feet of manufacturing and warehouse space in the ensuing years.
