HOUSTON — Chemical wholesaler Catalyst Trading Co. has signed a 49,911-square-foot industrial lease near downtown Houston. According to LoopNet Inc., the space at 3401 Navigation Blvd. features 32-foot clear heights, 38 exterior dock doors, two drive-in bays and 20 car parking spaces. Jeremy Lumbreras and Boone Smith with Stream Realty Partners represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant representative was not disclosed.
BIRMINGHAM, ALA. — TruCore Investments has purchased a 96,000-square-foot, Class B industrial facility located at 3230 Messer Airport Highway in Birmingham. The property had roughly 60,000 square feet of availability at the time of sale. The seller and sales price were not disclosed. Built in 1979, the concrete structure is situated on 4.4 acres and features 14 drive-in doors, 30 dock doors and 48 parking spaces. TruCore plans to improve the facility functionally and cosmetically, including an exterior refresh, as well as boost occupancy. The property represents TruCore’s first acquisition in Birmingham.
SOMERSET, N.J. — Cushman & Wakefield has brokered the sale of a 49,172-square-foot industrial flex building in the Northern New Jersey community of Somerset. The building at 28 Worlds Fair Drive sits on 4.5 acres, features two side doors and 152 car parking spaces and was 40 percent leased to four tenants at the time of sale. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the undisclosed seller in the transaction and procured the buyer, SL Industrial Partners.
JOLIET, ILL. — RJW Logistics Group has signed a 639,917-square-foot, full-building industrial lease at 275 W. Laraway Road in Joliet. Jeffrey Galante and Jeffrey Janda of Lee & Associates represented the owner, Pritzker Realty Group. Dominic Carbonari of JLL represented the tenant. PRG recently completed the property.
VAN NUYS, CALIF. — LaTerra Development has received an $18.2 million construction loan for the development of Raymer Self Storage, a fully entitled self-storage facility at 14876 Raymer St. in Van Nuys. JLL Capital Markets secured the two-year construction loan through Calmwater Capital LLC. Slated for completion in 2025, the 65,220-square-foot Raymer Self Storage will replace an existing warehouse and industrial building on the 1.2-acre site. The new facility will house 1,017 units consisting of 705 mini-storage units and 312 locker units. Property amenities will include 24-hour surveillance, controlled access, climate-controlled units and rooftop solar panels. Public Storage will operate and manage the facility.
CHARLOTTE, N.C. — A joint venture between New York City-based Town Lane and PowerHouse Data Centers, a division of American Real Estate Partners, has purchased 122 acres in southwest Charlotte. Eastdil Secured advised the companies on the land acquisition. The joint venture plans to develop a five-building data center campus on the site called PowerHouse Charlotte that will span 2.5 million square feet. The project will have 300 megawatts of power with the potential to increase to 500 megawatts by April 2027. The site is located near the intersection of I-485 and State Highway 49. Duke Energy plans to build an additional substation on the site.
COLONIAL HEIGHTS, VA. — Lingerfelt has signed a 106,376-square-foot lease with PECO Pallet Inc. at Port 801, a speculative industrial facility located at 801 Port Walthall Drive in Colonial Heights, a southern suburb of Richmond. Rob Dirom, Wood Thornton and Frank Hargrove III of Colliers represented Lingerfelt in the lease transaction. Graham Stoneburner of Cushman & Wakefield | Thalhimer represented PECO, which is the second of two tenants in operation at the 239,448-square-foot facility. ARCO Design Build delivered Port 801 on behalf of Lingerfelt in fourth-quarter 2022. The PECO lease brings the facility to full occupancy. PECO Pallet is a provider of rental pallet services to the beverage, grocery and consumer products industries.
LITTLE ROCK, ARK. — Stoic Equity Partners has acquired Parkwood Center, a 65,000-square-foot, multi-tenant flex industrial property located at 6801 W. 12th St. in Little Rock. This increases the Daphne, Ala.-based investor’s holdings in Little Rock to three properties spanning more than 150,000 square feet. The seller and sales price were not disclosed. Parkwood Center features suites ranging in size from 975 to 6,298 square feet and offers proximity to I-630 and I-430.
PERRIS, CALIF. — A joint venture between DECA Cos. and Wildcat Capital Management has obtained a $135 million loan to finance the ground-up development of Perris Gateway, an industrial development in Perris. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion. Perris Gateway will feature 850,000 square feet of industrial space with 40-foot clear ceiling heights, 124 dock-high doors, four drive-in doors and 4,000 amps of power. Additionally, the property will offer 348 auto parking stalls and 308 trailer parking stalls. The joint venture will use the loan proceeds to finance the construction and lease up-of Perris Gateway, which will be available for lease in 2025.
DENTON, TEXAS — Austin-based real estate private equity firm Harbor Capital has acquired Corbin Industrial Park, a 606,911-square-foot development located in the North Texas city of Denton. Constructed on 45 acres in phases between 2005 and 2014, the park features an average building size of 30,346 square feet, clear heights of up to 24 feet, industrial outdoor storage space, grade-level and dock-high loading configurations and more than 700 car parking spaces. Frazier Commercial Real Estate brokered the sale and has also been retained as the leasing agent. An entity managed by Argentic Investment Management provided acquisition financing for the deal that was arranged by Newmark. The seller was not disclosed.