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Industrial

4080-N-Palm-St-Fullerton-CA
CaliforniaIndustrialLoansWestern

Gantry Arranges $15.5M Recapitalization for Fullerton Brea Business Park in Fullerton, California

by Amy Works

FULLERTON, CALIF. — Gantry has arranged a $15.5 million permanent loan to recapitalize the Fullerton Brea Business Park in Fullerton following the recent all-cash purchase of the asset. Located at 4010-4080 N. Palm St. in the Orange County city, the industrial park offers 111,000 square feet of rentable space spread across eight multi-tenant buildings. Andy Bratt, Peter Welsh and Sean Kuang of Gantry secured the loan on behalf of the borrower, a private real estate investor. One of Gantry’s life company correspondents provided the five-year, fixed-rate loan with full-term interest-only payments and prepayment flexibility.

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IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Northeast Ohio Industrial Market Sparks Investor, Developer Interest

by Kristin Harlow

By George Pofok, Cushman & Wakefield | CRESCO Real Estate The Northeast Ohio market has consistently been a stable industrial hub, and over the last couple years, has been attracting the interest of investors and developers from other regions. Spanning approximately 527 million square feet, this market stretches from Cleveland down I-77 to include Akron-Canton.  In the second quarter of 2024, the overall vacancy rate decreased to 2.8 percent, driven by 1.1 million square feet of positive direct absorption, a strong recovery from the negative absorption in the first quarter. Over the past few years, the vacancy rate has remained between 2.4 and 3 percent.  Leasing activity kicked off the year robustly, with 4 million square feet of leases in the first quarter. However, it normalized in the second quarter, with 1.6 million square feet leased, which was slightly below the usual pace. The market is expected to remain stagnant due to limited inventory and a lack of new speculative construction starts, which continue to hinder demand from local and regional tenants seeking to expand and backfill spaces.  Leasing deals are trending longer, between five to 10 years, with annual rental rate increases averaging 3 to 4 percent. Meanwhile, the …

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Sylvania-Industrial-Park-Fort-Worth
IndustrialLoansTexas

CanTex Capital Refinances 893,738 SF Manufacturing Facility in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based investment firm CanTex Capital has refinanced Sylvania Industrial Park, an 893,738-square-foot manufacturing facility in Fort Worth. Sylvania Industrial Park sits on 55 acres and was leased to 15 tenants at the time of the loan closing, including Tyson Foods, TK Airport Solutions, JR New Energy and Andes Coil Processors. Jim Curtin, Jarrod McCabe, Luke Rogers and Jordan Buck of JLL arranged the three-year, floating-rate loan through MetLife Investment Management on behalf of CanTex Capital. The loan amount was not disclosed.

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AcquisitionsIndustrialTexas

Partners Capital Acquires 74,335 SF Industrial Flex Building in Southwest Austin

by Taylor Williams

AUSTIN, TEXAS — Partners Capital, the investment arm of full-service commercial real estate firm Partners Real Estate, has acquired Monterey Tech Center, a 74,335-square-foot industrial flex building in southwest Austin. The site at 4407 Monterey Oaks Blvd. lies just beyond the intersection of U.S. Highway 290 and MoPac Expressway, and the building was 16 percent leased at the time of sale. Veritex Community Bank provided an undisclosed amount of acquisition financing for the deal. The seller and sales price were also not disclosed.

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AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale of Three-Building Woodridge Commerce Center in Suburban Chicago

by Kristin Harlow

WOODRIDGE, ILL. — Colliers has arranged the sale of Woodridge Commerce Center, a three-building industrial complex in the southwest Chicago suburb of Woodridge. The sales price was undisclosed. Built in 2006, the buildings are situated on 12 acres in the center of International Centre Business Park. They feature clear heights ranging from 18 to 20 feet, a mix of private and shared loading and parking for 447 cars. Woodridge Commerce Center is 96 percent leased to 22 tenants. The weighted average lease term is nearly three years with in-place rents that average 15 to 20 percent below current market rates. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, Unilev Capital and an affiliate of Palladius Capital Management. The buyer was a Chicago-area limited liability company. Colliers also arranged the property’s sale to Unilev in 2021.

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1503-W-San-Pedro-St-Gilbert-AZ
AcquisitionsArizonaIndustrialWestern

Longpoint Realty Partners Purchases 68,790 SF Industrial Building in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Boston-based Longpoint Realty Partners has acquired a single-tenant industrial facility, located at 1503 W. San Pedro St. in Gilbert, from Stonelake Capital Partners for $17 million. Situated on 1.2 acres in the suburbs southeast of Phoenix, the 68,790-square-foot property was originally developed in the mid-1980s and underwent an extensive interior and exterior renovation in 2023. At the time of sale, the property was fully leased to a supplier of aftermarket aviation assets. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s private capital group in Phoenix represented the seller in the deal. Mike Haenel and Andy Markham of Cushman & Wakefield provided leasing advisory for the transaction.

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DevelopmentIndustrialMarylandSoutheast

Hoar Construction Completes 80,000 SF Industrial Facility in Glen Burnie, Maryland

by John Nelson

GLEN BURNIE, MD. — Hoar Construction has completed an 80,000-square-foot industrial facility near Baltimore/Washington Thurgood Marshall International Airport in Glen Burnie. Working on behalf of the developer, Brennan Investment Group, the general contractor broke ground on the facility in August 2023. The asset is situated on 16 acres on Solley Road and features 32-foot clear heights, two ramped drive-in doors, 20 dock-high doors and approximately 2,000 square feet of spec office space. The development is designed to accommodate up to two tenants. The project team includes architect Powers Brown Architecture, civil engineer Morris & Ritchie Associates and leasing agent Colliers.

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Blue-Ridge-Commerce-Center-Houston
DevelopmentIndustrialTexas

TCC, Daiwa House Begin Construction on 1.3 MSF Industrial Project in Southwest Houston

by Taylor Williams

HOUSTON — A joint venture between Trammell Crow Co. (TCC) and Japanese developer Daiwa House has broken ground on Blue Ridge Commerce Center, a 1.3 million-square-foot industrial project in southwest Houston. The site spans 92 acres at the northwest corner of Fort Bend Parkway and McHard Road, and the development will consist of five buildings that will range in size from 153,928 to 431,017 square feet. Buildings will feature a mix of front-load, rear-load and cross-dock configurations and clear heights that range from 28 to 36 feet. Seeberger Architecture designed the project, and E.E. Reed Construction is serving as the general contractor. Sumitomo Mitsui Banking Corp. is financing the development, and CBRE has been tapped as the leasing agent. Linco Construction will undertake infrastructure improvements as part of the project, which will include new public roads, traffic signals, underground utilities, a regional storm water detention pond and public sidewalks. Completion is scheduled for summer 2025.

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Phase1-Virgin-Industrial-Park-Glendale-AZ
ArizonaDevelopmentIndustrialWestern

IndiCap, Invesco Real Estate Complete 1 MSF Phase I of Virgin Industrial Park in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale. Totaling more than 1 million square feet, Virgin Industrial Park Phase I features Building A, a 564,320-square-foot, cross-dock facility; Building B, a 212,160-square-foot, rear-loading asset; and Building C, a 243,360-square-foot, rear-load space. All buildings offer divisibility options down to 75,000 square feet. Buildings feature 32- to 36-foot clear heights, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70-foot speed bays and fully secured concrete truck courts. Make-ready improvements include speculative office space, LED lighting, warehouse HVAC and mechanical pit levelers. The project team includes Graycor Construction Co. as general contractor and Deutsch Architecture as project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing of the property. At full build-out, Virgin Industrial Park will add 1.5 million square feet of industrial space spread across five Class A buildings to metro Phoenix’s Loop 303 Corridor.

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Dove-Valley-Logistics-Centre-II-Englewood-CO
AcquisitionsColoradoIndustrialWestern

BlueScope Properties Divests of 304,620 SF Dove Valley Logistics Centre II in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of Dove Valley Logistics Centre II, a Class A warehouse located at 7800 S. Fairplay St. in the Denver suburb of Englewood, to LBA Realty for an undisclosed price. Sean Devaney and Rob Key of JLL Investment Sales and Advisory represented the seller in the deal. Built in 2023, the 304,620-square-foot cross-dock warehouse offers 89 dock-high doors, 36-foot clear heights, 60-foot column spacing and ESFR sprinklers. Additionally, the property offers 6,700 square feet of office space, including an employee break area, wellness room, conference room and security station. At the time of sale, the asset was fully leased by an e-commerce giant.

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