Sunday, May 4, 2025
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Industrial

AcquisitionsGeorgiaIndustrialSoutheast

JLL Brokers Sale of 264,339 SF Regency Center Industrial Park in Atlanta

by John Nelson

ATLANTA — JLL Capital Markets has brokered the sale of Regency Center, a 264,339-square-foot industrial park located along Jimmy Carter Boulevard in Atlanta. Situated on 20.4 acres, the property comprises eight buildings and features 36 suites, rear-load configurations, 16- to 20-foot clear heights, 67 dock-high doors and 12 grade-level doors. Richland Capital Holdings acquired the property for an undisclosed price. Matt Wirth, Jim Freeman, Dennis Mitchell and Britton Burdette of JLL represented the undisclosed seller in the transaction.

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ArizonaDevelopmentIndustrialWestern

Creation, Clarion Partners Break Ground on $250M Park Algodon Industrial Project in Phoenix

by Amy Works

PHOENIX — Creation and Clarion Partners have broken ground on the first phase of Park Algodon, a previously announced, 1.3 million-square-foot industrial campus in Phoenix. Situated on 87 acres, the two-phase speculative industrial development will total 1.3 million square feet at full build out. The first phase includes four buildings, totaling 766,000 square feet, for tenants as small as 16,000 square feet and as large at 317,000 square feet. The second phase will consist of a 556,000-square-foot building. The buildings will feature 32- to 36-foot minimum clear heights, ample power and abundant employee parking. LGE Design Build is leading the architecture and construction. The first phase is scheduled for completion in the third quarter of 2025. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield are handling leasing of the project.

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AcquisitionsColoradoIndustrialWestern

Flywheel Capital Buys Two Industrial Outdoor Storage Properties in Denver Area

by Amy Works

DENVER AND COMMERCE CITY, COLO. — Flywheel Capital has acquired two industrial properties, 4970 Cook Street in Denver and 5790 Dahlia Street in Commerce City, for an undisclosed price. The acquisitions will expand Flywheel’s industrial outdoor storage (IOS) portfolio. Situated on 2.4 acres, 4970 Cook Street is a 20,000-square-foot, single-tenant, net-leased industrial property. The asset offers fenced secure storage space for businesses with large inventory needs and is currently leased to Goodyear Tire and Rubber. The property has served as Goodyear’s operational base since 1998. Located on 2.1 acres, 5790 Dahlia Street is a 7,000-square-foot industrial facility. In November 2023, TransWood Carriers, a bulk transportation company with more than 40 locations nationwide, signed a long-term lease at the property. Mike Viehmann, Mike Wafer and Mike Wafer Jr. of Newmark represented the undisclosed seller, while Flywheel Capital was self-represented in the deal.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Negotiates Sale of 150,268 SF Industrial Property in Metro Dallas

by Taylor Williams

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 150,268-square-foot industrial property in the northern Dallas metro of Carrollton. The site at 1235 W. Trinity Mills Road spans 12.4 acres. Corbin Blount of Lee & Associates represented the seller, an undisclosed, locally based limited liability company, in the transaction. Chris Beggins and Adam Graham, also with Lee & Associates, represented the buyer, an entity doing business as CUI Properties — TX.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 122-Unit Self-Storage Facility in Lorena, Texas

by Taylor Williams

LORENA, TEXAS — Marcus & Millichap has brokered the sale of Lorena Mini Storage, a 122-unit self-storage facility located about 15 miles south of Waco. The facility spans 22,794 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a private investor based in the Dallas-Fort Worth area, in the transaction. The duo also procured a locally based investment group as the buyer. The sales price was not disclosed.

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DevelopmentIllinoisIndustrialMidwest

Peak Construction Breaks Ground on 203,257 SF Industrial Expansion for OCM in Grayslake, Illinois

by Kristin Harlow

GRAYSLAKE, ILL. — Peak Construction Corp. has broken ground on a 203,257-square-foot industrial expansion for OCM Inc. in Grayslake, about 40 miles north of downtown Chicago. Upon completion, OCM will occupy 337,208 square feet. The addition features a clear height of 30 feet, 10 dock doors, three drive-in doors and 115 car parking spaces. Completion is slated by the end of the year. Cornerstone Architects and Manhard Consulting make up the project team. OCM is a subsidiary of OKABE Co. Ltd., which was founded in 1917 in Japan as a full-service manufacturer and distributor of concrete construction supplies.

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AcquisitionsIndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges $22.5M Acquisition Loan for Northern New Jersey Industrial Portfolio

by Taylor Williams

PATERSON, N.J. — Cushman & Wakefield has arranged a $22.5 million acquisition loan for a portfolio of two industrial properties totaling 192,000 square feet in the Northern New Jersey community of Paterson. The portfolio, which consists of a 102,000-square-foot building and a 90,000-square-foot building, features 26 dock-high doors, four drive-in doors, clear heights of 22 feet and 64 car parking spaces. GID Credit provided the loan to Eagle Cliff Real Estate Partners. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield originated the debt. The firm also represented the seller, Boston-based investment firm Marcus Partners, in the disposition of the portfolio, which was fully leased at the time of sale.

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AlabamaDevelopmentIndustrialOfficeSoutheastTop Stories

Coca-Cola United to Develop $330M Office, Warehouse Facility in Birmingham, Alabama

by Jeff Shaw

BIRMINGHAM, ALA. — Coca-Cola Bottling Co. United Inc. has announced plans to invest $330 million in the construction of a new office and warehouse facility located in the Kingston neighborhood of Birmingham. Coca-Cola United is a Birmingham-based bottler of Coca-Cola products, and the Coca-Cola Co. does not own any part of the company. Plans for the development include a 150,000-square-foot office complex and a 300,000-square-foot warehouse. The warehouse will feature a Vertique case picking system, which is designed to increase the efficiency of packing cases for order fulfillment. The facility will serve as the Birmingham Coca-Cola sales center, as well as Coca-Cola United’s corporate, Central region and North Alabama division headquarters. The property will also house the company’s Classic Food and Vending arm, customer solutions center and services department. A development timeline was not disclosed. Coca-Cola United purchased the development site in 2013. The land previously housed the Stockham Valves and Fittings plant, which closed in 1998. According to Alabama Gov. Kay Ivey, the project will create up to 50 new jobs and retain over 750 positions. “For over 120 years, Coca-Cola United has been a stand-out member of Birmingham’s business community,” says Ivey. “Coca-Cola United’s landmark growth project will create new …

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DevelopmentIndustrialTexas

Levey Group Breaks Ground on 660,000 SF Industrial Project in Pearland, Texas

by Taylor Williams

PEARLAND, TEXAS — Locally based developer Levey Group has broken ground on a 660,000-square-foot industrial project located in the southern Houston suburb of Pearland. Levey Logistics Park will be situated on a 38-acre site near the intersection of South Sam Houston Parkway and Almeda School Road. The development’s two buildings will be able to support rear-load tenants with requirements of 16,500 square feet or more, as well as single-tenant cross-dock users with requirements up to 500,000 square feet. Harvey Builders is the general contractor for the project, which is slated for a second-quarter 2025 completion. Levey Group has tapped Cushman & Wakefield as the leasing agent.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Cushman & Wakefield Brokers Sales of Three Industrial Properties in Metro Raleigh Totaling $47.3M

by John Nelson

GARNER, N.C. — Cushman & Wakefield has brokered two sales of three industrial properties spanning more than 260,000 square feet within Greenfield Business Park in Garner, about 10 miles south of Raleigh. The three properties include two newly constructed warehouses at 4101 and 4501 Waterfield Drive along with a third building at 600 S. Greenfield Parkway. Christopher Sheldon, Doug Longyear and Andy Bogardus of Cushman & Wakefield, along with Jimmy Barnes of NAI Tri Properties, represented the seller and developer, Wigeon Capital, in both sale transactions. Foxfield Investments purchased 4101 and 4501 Waterfield Drive for $19.8 million, and Wake County ABC Board, an owner/occupier, purchased the third building for $27.5 million. Acousti Engineering and Southern Staircase occupy 4101 Waterfield Drive, and The Macomb Group occupies 4501 Waterfield Drive.

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