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Industrial

Building-2-Core5-at-Middletown
AcquisitionsIndustrialNortheastPennsylvania

MDH Partners Acquires Industrial Building in Middletown, Pennsylvania for $45.5M

by Taylor Williams

MIDDLETOWN, PA. — Atlanta-based investment firm MDH Partners has purchased a 305,870-square-foot industrial building in Middletown, located on the southeastern outskirts of Harrisburg, for $45.5 million. The building features a clear height of 36 feet, 50 dock doors and an ESFR sprinkler system. The building is leased to an undisclosed provider of e-commerce services. John Plower, John Huguenard, Ryan Cottone, Zach Maguire, Paul Torosian and Jeff Lockard of JLL represented the seller, Core5 Industrial Partners, which is also based in Atlanta, in the transaction.

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DevelopmentIndustrialLoansNorth CarolinaSouth CarolinaSoutheast

CBRE Arranges Two Loans Totaling $66M for Refinancing of Metro Charlotte Industrial Properties

by John Nelson

CHARLOTTE, N.C. — CBRE has arranged two loans total $66 million for the refinancing of two separate industrial portfolios in the Charlotte metropolitan area. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta represented the borrower, CIP Real Estate, in both deals. The loans include a $35 million loan through HIMCO for the refinancing of International Corporate Center, a six-building industrial project located in Concord, N.C., as well as the construction of two industrial buildings at the site totaling 147,467 square feet. The other deal was a $31 million loan secured through an unnamed national bank for the acquisition of a seven-building, 334,989-square-foot industrial portfolio that was 99 percent leased at the time of funding. The assets in the portfolio include 77 Overlook, a three-building, 216,977-square-foot development in Charlotte; Lakefield Corporate Center, a three-building, 74,920-square-foot development in Mooresville, N.C.; and Southcross Corporate Center, a 43,092-square-foot warehouse in Rock Hill, S.C.

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Pecos-17-Mesa-AZ
AcquisitionsArizonaDevelopmentIndustrialWestern

Greenlaw Partners Sells 18.2-Acre Pecos 17 Industrial Development Site in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Greenlaw Partners has completed the disposition of 18.2 acres of undeveloped land, located at Pecos and Sossaman roads in Mesa, to Cavan Commercial for $6.5 million. Specific plans for the site, commonly known as Pecos 17, have not been announced, but the property is fully entitled for the development of 227,000 square feet of industrial space. Situated within the Pecos Advanced Manufacturing Zone, the site has access to robust infrastructure, affordable power capacity, fiber network, natural gas, and abundant water and wastewater capacity. Additionally, the site is under 30 miles from Phoenix Sky Harbor International Airport and six miles from Phoenix-Mesa Gateway Airport. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction.

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Texas-Instruments-Sherman
IndustrialMarket ReportsTexasTexas Market Reports

Texas Reaps Benefits of Semiconductor Manufacturing Deals

by Taylor Williams

By Taylor Williams An attractive, successful woman walks into a bar and posts up. Within minutes, multiple men have approached her, offering to buy her a drink. And while she doesn’t really need the freebie, who can blame her for accepting it? After all, nothing’s more American than having a little extra icing on your cake. To analogize this scenario to commercial real estate, think of Texas as the woman and the burgeoning semiconductor industry as the free drinks. The state’s economy was doing just fine without the mega-boost from manufacturing initiatives stemming from the 2022 CHIPS and Science Act, which has resulted in tens of billions of dollars in capital investment for North and Central Texas. But with a well-deserved reputation for welcoming businesses of all types, Texas wouldn’t be Texas if it didn’t court and embrace these manufacturers in these areas, which for many years were predominantly rural communities. Semiconductors, or computer chips, are essential elements of virtually all electronic and computing devices, including electric vehicles, phones, tablets, TVs, home appliances, solar panels and video game consoles. The CHIPS and Science Act laid the framework for the country to gain market share in terms of manufacturing these components, …

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IndustrialLeasing ActivityTexas

Partners Real Estate Arranges 47,736 SF Industrial Lease in Brookshire, Texas

by Taylor Williams

BROOKSHIRE, TEXAS — Partners Real Estate has arranged a 47,736-square-foot industrial lease in Brookshire, a western suburb of Houston. According to Crexi, the single-tenant building sits on 4.6 acres at 3012 Venergy Drive and includes 2,736 square feet of office space. Travis Land and Braedon Emde of Partners represented the landlord, an entity doing business as VEnergy Industrial Park I LLC, in the lease negotiations. Jon Farris of CBRE represented the tenant.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 13,500 SF Industrial Lease in South Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 13,500-square-foot industrial lease in South Fort Worth. The tenant, United Interiors Inc., is taking space at Suffolk Business Park, a four-building, 116,000-square-foot development. Alex Bryant with Street Realty represented the tenant in the lease negotiations. Thomas Grafton and Trey Goodspeed with Holt Lunsford Commercial represented the landlord, Birtcher Anderson & Davis.

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IndustrialLeasing ActivityTexas

Airport Lighting Systems Signs 12,887 SF Industrial Lease Near DFW Airport

by Taylor Williams

IRVING, TEXAS — Airport Lighting Systems Inc. has signed a 12,887-square-foot industrial lease near Dallas-Fort Worth International Airport in Irving. The company is relocating from nearby Southlake to Las Colinas Distribution Center 5, an 80,900-square-foot building that was originally constructed in 1981. Trey Goodspeed of Holt Lunsford Commercial represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord.

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AcquisitionsFloridaIndustrialSoutheast

Basis Industrial Acquires 206,275 SF Business Park in St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — Basis Industrial has acquired Pinellas Business Center, a six-building, 206,275-square-foot industrial park in the Tampa Bay city of St. Petersburg. Dale Peterson, Joe Chick and Courtney Snell of CBRE Capital Markets represented the seller, Taurus Investment Holdings, in the transaction. The sales price was not disclosed. Originally built in 1985 and 1986, Pinellas Business Center underwent a $3 million façade renovation project in 2022 and 2023. The property was 93 percent leased at the time of sale to firms occupying spaces ranging from 2,000 square feet to just over 41,000 square feet.

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IndustrialLeasing ActivitySoutheastVirginia

Lingerfelt Inks 233,359 SF Industrial Lease in Colonial Heights, Virginia

by John Nelson

COLONIAL HEIGHTS, VA. — Lingerfelt has inked a 233,359-square-foot industrial lease at Ruffin Mill Distribution Center, an industrial park in Colonial Heights, about 23 miles south of Richmond. The Memphis-based tenant, Vital Records Control, will occupy Buildings A and C, which are located at 1944 and 1998 Ruffin Mill Road, respectively. Matt Anderson and Harrison McVey of Range Commercial Partners represented Lingerfelt in the lease transaction, which brings Ruffin Mill Distribution Center to full occupancy.

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AcquisitionsAlabamaSelf-StorageSoutheast

Marcus & Millichap Brokers Sale of 302-Unit Self-Storage Facility in Bessemer, Alabama

by John Nelson

BESSEMER, ALA. — Marcus & Millichap has brokered the sale of Second Attic Storage, a 302-unit self-storage facility located on a three-acre site at 1760 4th Ave. SW in Bessemer, about 19 miles southwest of Birmingham. Eddie Greenhalgh, Jake Payne and Lee Thornton of Marcus & Millichap’s Birmingham office represented the seller and procured the buyer, both limited liability companies that requested anonymity, in the transaction. The sales price was also not disclosed.

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