CHANNELVIEW, TEXAS — National brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 56,248-square-foot industrial outdoor storage facility in Channelview, an eastern suburb of Houston. Locally based investment firm Triten Real Estate Partners acquired the 4.8-acre property from Alpha Omega & Equipment via a sale-leaseback for an undisclosed price. Murphy Sloan and Andrew Wiesemann of Matthews brokered the deal.
CHARLOTTE, N.C. — KBS has obtained a $38.4 million loan for the refinancing of Crossroads Distribution Center, a four-building industrial property in Charlotte spanning nearly 500,000 square feet. The park was developed between 1998 and 2007 along Granite Street. The property features 24- to 30-foot clear heights, 50-foot concrete aprons and truck courts that range from 110 to 140 feet, as well as a fitness center, tenant lounge, onsite car wash/detail and proximity to public transportation. Joe Donato led the Newmark team that arranged the financing on behalf of KBS. The direct lender was not disclosed.
DALLAS — Lee & Associates has negotiated a 50,000-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 4039 Rock Quarry Road was built in 2000 and spans 239,134 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The name and representative of the tenant were not disclosed.
CARNEYS POINT, N.J. — New York City-based Rockefeller Group has broken ground on an approximately 1.1 million-square-foot industrial project in Carneys Point, located across the Delaware River from Wilmington in Southern New Jersey. Rockefeller Group Logistics Center at Carneys Point will consist of two buildings, one totaling 596,443 square feet and the other spanning 530,000 square feet, on a 141-acre site. Building features will include clear heights of 40 feet and parking for 658 cars and 328 trailers. Sumitomo Mitsui Trust Bank provided $114.8 million in construction financing for the project, which is slated for an early 2025 delivery. M+H Architects designed the project, and FCL Builders is serving as the general contractor. CBRE has been tapped as the leasing agent.
NEWARK, N.J. — A partnership between Deugen Investment Group and Devli Real Estate has acquired a seven-acre industrial outdoor storage facility in Newark. According to LoopNet Inc., the facility at 449 Doremus Ave. was completed earlier this year and totals 30,000 square feet. The site formerly housed a cogeneration power plant, and the new ownership plans to renovate the interior and exterior of the existing structure and repave the site for trailer parking, outdoor storage and car parking uses. The seller was not disclosed.
BRISTOL, WIS. — ERMCO has signed a 158,000-square-foot industrial lease for 10 years at Bristol Business Park in the southeast Wisconsin city of Bristol. The Tennessee-based tenant manufactures electrical, technology and low voltage systems, and building automation and controls. Sean Kropke and Keith Puritz of Cushman & Wakefield represented ERMCO, while the brokerage firm’s Keith Puritz, Brett Kroner and Marc Sameuels represented the landlord, Illinois-based Janko Group. ERMCO will relocate from its current north suburban Chicago location to Bristol this summer. Bristol Business Park features nine buildings on 250 acres. ERMCO will be based in Building 4, which features a clear height of 32 feet, 30 expandable exterior dock doors, 215 parking spaces and 4,000 amps of power.
HAWTHORNE, CALIF. — Talonvest Capital has closed a $36.8 million bridge loan for a self-storage facility in Hawthorne, in the South Bay region of metro Los Angeles. The borrower is 1784 Holdings. The nonrecourse bridge loan includes a three-year term with two extension options and full-term interest-only payments. The financing was funded by a unique lending program. Jim Davies, Britt Taylor Mason Brusseau, Tom Sherlock and Lauren Maehler of Talonvest represented the borrower.
DENVER — John Propp Commercial Group has arranged the sale of a single-tenant industrial building, located at 4695 N. Ironton St. in Denver. LVPA 4695 N Ironton Street OS Owner LLC acquired the asset from H.A.L. Construction for $5.4 million. Penske Truck Leasing occupies the 20,168-square-foot, multi-bay truck maintenance facility, which is situated on 3.4 acres and fully fenced. John V. Propp and Joshua Cohen of John Propp Commercial Group represented the seller, while Stream Realty represented the buyer in the transaction.
FORT WORTH, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of a 1.2 million-square-foot industrial building at AllianceTexas in North Fort Worth. Alliance Westport 25 was originally launched as a 1 million-square-foot speculative building in August 2022 and was subsequently expanded to meet the needs of the tenant, Georgia-based wire and cable manufacturer Southwire. The developer, Hillwood, completed the property, which features 40-foot clear heights, 188 dock doors and four drive-in doors, in April. Trey Morsbach, D.J. Meagher, Ryan Pollack and Chad Lisbeth of JLL arranged the debt on behalf of Hillwood. The direct lender was an undisclosed life insurance company.
IRVING, TEXAS — Chicago-based investment firm Harrison Street and PowerHouse Data Centers, a division of Virginia-based American Real Estate Partners, will develop a 946,000-square-foot campus in Irving. PowerHouse Irving will span 50 acres within the Las Colinas district and will consist of three buildings with a total power capacity of 200 megawatts. The site at 111 Customer Way is also situated adjacent to an existing Oncor substation. Construction is scheduled to begin in early 2025, with the first powered shell structure set to be delivered by late 2025.