By Jake Ables, director of concrete promotion, Silvi Materials When choosing a pavement surface for large-scale industrial facilities, there are several different factors that developers may want to consider. Chief among those factors, in the context of our current construction economy, is sustainability. Current trends in the Mid-Atlantic warehouse markets, for example, are pushing developers, contractors and suppliers towards sustainable construction practices. We have seen evidence of this with the implementation of environmental product declarations (EPDs) that disclose the global warming potential (GWP) of building materials on various construction projects. The purpose of these documents is to quantify the environmental impacts of building materials. As the push for sustainability increases, it behooves developers to look for sustainable value when and where they can find it. Life Cycle Thinking As the push for sustainability intensifies over the coming years, property developers will see their priorities adjust to compensate for changing market conditions. While costs will always be at the forefront of concerns for developers, sustainability is becoming an ever-higher priority. So what does that mean for developers? We believe it means a shifting mindset toward sustainable value over costs. Concrete paving provides the life cycle value that developers are seeking …
Industrial
HOUSTON — Tigerhawk Logistics has signed a 328,048-square-foot industrial lease expansion at Portside Logistics Center, a 1 million-square-foot speculative development by Stream Realty Partners and Principal Asset Management that is located near Port Houston. After initially taking 135,285 square feet at Building 2 last winter, Tigerhawk is more than doubling its footprint at the property by taking space at Building 1. Grant Hortenstine and Pearce Martens of CBRE represented Tigerhawk in the lease negotiations. Tyler Maner and Jeremy Lumbreras of Stream represented ownership on an internal basis.
MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of a 553-unit self-storage facility in the eastern Dallas suburb of Mesquite that is operated under the Storage King USA brand. The facility spans 73,999 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a New York-based investment firm, in the transaction. Karr also procured the buyer, a REIT. Both parties requested anonymity.
TOMS RIVER, N.J. — Developer DXD Capital has completed construction of a 761-unit self-storage facility in Toms River, located on the Jersey Shore. The four-story building spans 62,818 net rentable square feet and features multiple elevators and a drive-in loading area. DXD Capital acquired the site in summer 2022. Public Storage will operate the facility. Jayeff served as the general contractor on the project, and Century Bank was the construction lender.
DELRAY BEACH, FLA. — BBX Logistics Properties, along with joint venture partner PCCP LLC, has broken ground on The Park at Delray, a new 40-acre industrial park located along U.S. Highway 441 in Delray Beach, about 20 miles south of West Palm Beach. Phase I of the project includes the construction of a 200,000-square-foot building, with plans for two additional buildings to follow. The first phase can accommodate tenants seeking spaces as small as 50,000 square feet. City National Bank provided a $31.3 million construction loan for The Park at Delray. The timeline for construction was not disclosed.
Cushman & Wakefield Brokers Sale of 387,454 SF Industrial Portfolio Near San Diego for $74M
by Amy Works
SAN MARCOS AND TEMECULA, CALIF. — Cushman & Wakefield has negotiated the sales of two industrial projects spanning six buildings and 387,454 square feet in San Marcos and Temecula. The assets were sold separately between January and May to two separate undisclosed buyers for a combined total of $74 million. In January, Investcorp acquired Pro·duc·tion, a four-building, Class A industrial project in San Marcos for $50 million. Fully leased at the time of sale, the property offers 221,294 square feet of industrial space. Built in 2018, the asset is located at 195 Bosstick Blvd. and 2946, 2950 and 2954 Norman Strasse Road. In May, Cire Equity purchased two industrial buildings at 26201 Ynez Road and 42259 Rio Ned Road in Temecula for $24 million. Aric Starck, Jeffrey Cole and Drew Dodds of Cushman & Wakefield Capital Markets represented the undisclosed seller in the transactions.
Dalfen Industrial, RGA Form Joint Venture for 253,055 SF Industrial Portfolio in Arizona, Georgia
by Amy Works
GILBERT, ARIZ., AND ALPHARETTA AND NORCROSS, GA. — Cushman & Wakefield has advised Dalfen Industrial in the disposition and recapitalization of a multi-tenant industrial portfolio, totaling 253,055 square feet across two projects in Atlanta and Phoenix metro markets. The dual-project portfolio was owned in Dalfen Industrial’s Value-Add Fund IV and was recapitalized in a joint venture between Dalfen Industrial and RGA ReCap Inc. on behalf of Reinsurance Group of America Inc. Terms of the transaction were not released. Located in Gilbert, Gilbert Distribution Center is a freestanding Class A industrial building at 1495 E. Baseline Road. Two tenants fully occupy the property, which features multiple points of ingress/egress, multiple storefronts, loading, functional column spacing and concrete truck aprons on a 140-foot truck court. The North Atlanta Infill Portfolio is a collection of four multi-tenant, rear-load, light industrial buildings located at 6205 and 6215 Shiloh Crossing in Alpharetta and 2915 Courtyards Drive and 3055 Northwoods Circle in Norcross. The properties are a combined 86 percent leased to eight tenants, three of which recently extended their lease terms. The buildings offer 18- to 22-foot clear heights, rear loading, a mix of drive-in and dock-high doors, and multiple glass store fronts. Will Strong, Michael …
EAST ALTON, ILL. — Wieland, a supplier of copper and copper alloy solutions, has begun renovating and expanding its manufacturing facility in East Alton, located outside of St. Louis near the Illinois-Missouri border. The project is valued at $500 million. The initial phase of the modernization will increase the capacity and quality of copper production at the facility, which was originally constructed in 1916. The development team will revamp building foundations to support new equipment, and the site will be modified to support the use of an overhead crane for equipment setting. Wieland will also undertake upgrades to other facilities, including the furnace, re-cooling system, distribution switchgear, superstructure and controls/commissioning. Following completion of the project, the building structure will feature metal siding and roofing over heavy structural steel. “With copper having an integral role in the energy transition, this endeavor better positions Wieland as a provider of sustainable solutions for our customers’ ever-changing needs,” says Greg Keown, president of Wieland’s rolled products North America division. The project team includes general contractors Graycor Construction Co. and Helmkamp Construction Co., as well as design firms Vestal Corp. and Salas O’Brien. Completion is slated for mid-2028. — Taylor Williams
FORT WORTH, TEXAS — Newmark has brokered the sale of DFW Point35 — Building 1, a 267,280-square-foot industrial property in Fort Worth. Built in 2023, the rear-load building is part of a larger development and features 32-foot clear heights, 59 dock doors, two drive-in doors, 185-foot truck court depths and 75 trailer parking stalls. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Chloie Mercer and Caroline Wilson of Newmark represented the seller, a partnership between Atlanta-based Stonemont Financial Group and Iron Point Partners, in the deal. The buyer was not disclosed. The building was fully leased to GITI Tire at the time of sale.
HOUSTON — Alterra IOS has acquired a 9.7-acre industrial outdoor storage facility (IOS) located at 9605 Galveston Road in southeast Houston. The property houses three buildings totaling 31,000 square feet that are currently vacant. According to Crexi, the buildings feature 18- to 21-foot clear heights, office and showroom space and four grade-level loading doors. The seller and sales price were not disclosed.