TAUNTON, MASS. — Boston-based investment firm Rhino Capital Advisors has broken ground on a 180,000-square-foot manufacturing facility in Taunton, located south of Boston near the Massachusetts-Rhode Island border. The site spans 11.2 acres within Myles Standish Industrial Park, and the building will feature a clear height of 36 feet, five loading docks and 270 parking spaces. Rhino Capital is developing the property in partnership with MassDevelopment and the Taunton Development Corp. Construction is expected to be complete next spring.
Industrial
Syndicated Equities Group Acquires 45,306 SF Winnebago Industries Innovation Center Near Minneapolis
SAVAGE, MINN. — Syndicated Equities has acquired the Winnebago Industries Innovation Center in Savage, about 20 miles south of Minneapolis. The property consists of a 45,306-square-foot, single-story industrial building that is fully net leased to Winnebago Industries. Originally constructed in 2017, the building underwent a renovation to Winnebago’s specifications in 2023 and now serves as the company’s primary research, development and testing facility. Winnebago utilizes the property for the creation of new prototypes, technology enhancements for its vehicles, data and connectivity upgrades, advanced materials construction and self-driving autonomy development. Syndicated also owns Winnebago’s corporate headquarters, which are located three miles northwest of the asset. Syndicated acquired the latest property in a Delaware Statutory Trust ownership structure to accommodate investors completing 1031 exchanges along with accredited individual investors.
BOSTON — JLL has arranged a $27.8 million acquisition loan for a portfolio of four industrial buildings totaling roughly 400,000 square feet in the greater Boston area. The names and addresses were not disclosed. The properties comprise a mix of single-tenant warehouse, distribution and manufacturing buildings that were 100 percent leased at the time of the loan closing. Andrew Gray and Ryan Parker arranged the nonrecourse, fixed-rate loan through Bristol County Savings Bank on behalf of the borrower, NorthBridge Partners.
WAYNE, N.J. — Truist Bank has provided a $25 million loan for the refinancing of a 353,000-square-foot industrial property in the Northern New Jersey community of Wayne. The property at 415 Hamburg Turnpike was built on 17 acres in 1968 and features clear heights of 18 to 26 feet, 20 dock-high loading doors, six drive-in doors and 63,720 square feet of office space. The borrower was locally based investment firm The STRO Cos. The property was fully leased at the time of the loan closing.
NORTH HAVEN, CONN. — F+F Mechanical Enterprises has signed a 27,573-square-foot industrial lease in North Haven, a suburb of New Haven. The fabricator and installer of mechanical systems is expanding and relocating from 2 Dwight St. to the 132,264-square-foot building at 60 Dodge Ave. Stephen Press of Press/Cuozzo Realtors represented the tenant in the lease negotiations. Bradley Soules and Art Ross of Newmark represented the landlord.
DENVER — Malman Commercial Real Estate has brokered the acquisition of an industrial property located at 2153 S. Wabash St. in Denver. Vera Wabash LLC acquired the asset from 2153 South Wabash Street LLC for $3 million. Situated on a 1.2-acre parcel, the 25,356-square-foot property features eight dock-high doors and one drive-in loading door. Taylor Roy of Malman Commercial Real Estate represented the seller, while CJ Toohey, Patrick Henry and Boston Wier of The Henry Group represented the buyer in the deal.
ATLANTA — JLL Capital Markets has arranged the sale of 120 Interstate Northwest, a four-building light industrial business park in Atlanta. Adler Real Estate Partners acquired the property, which totals 281,677 square feet, for an undisclosed price. The park was 97 percent leased to 35 tenants at the time of sale. Matt Wirth, Dennis Mitchell, Britton Burdette and Jim Freeman of JLL represented the seller, Albany Road Real Estate Partners, in the transaction. Additionally, Melissa Rose, Bobby Norwood and Hunter Goldberg of JLL secured acquisition financing on behalf of the buyer.
CLAYTON, N.C. — CBRE has arranged five new leases at 42 West Business Park, a newly developed flex/light industrial property in Clayton, 17 miles outside downtown Raleigh. Delivered at the end of 2023, the development comprises two warehouses totaling 125,000 square feet. Habitat for Humanity of Wake County will occupy the entirety of Building 1, which totals 25,000 square feet. Together, the tenants will occupy 65,787 square feet, bringing the property to over 50 percent occupancy. Austin Nagy and John Hogan of CBRE represented the landlord, Charlotte-based Pace Commercial, in the lease negotiations.
LANCASTER, TEXAS — Walmart (NYSE: WMT) has opened a 730,000-square-foot food processing facility in Lancaster, a southern suburb of Dallas. About 500 people are expected to work at the facility, which will be used to receive and process produce, eggs, dairy products, flowers and frozen goods for delivery to nearby Walmart stores. The Arkansas-based discount retail giant, which also opened a fulfillment center in Lancaster in 2023, operates about 590 retail units in Texas and employs some 176,000 people throughout the state.
SAN ANTONIO — San Francisco-based mortgage banking firm Gantry has placed a $12 million loan for the refinancing of Lockaway Storage, a 716-unit facility in San Antonio. Built in 2018, the property spans 140,285 net rentable square feet and offers climate- and non-climate-controlled units, mini-office and warehouse spaces and oversized vehicle parking spaces. Tom Dao and Joe Foley of Gantry arranged the fixed-rate loan, which carries a five-year term and a 25-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.