SPRING, TEXAS — Partners Capital, the investment arm of Partners Real Estate, has purchased Old Town Spring Business Center, a 196,000-square-foot industrial flex property located on the northern outskirts of Houston. The property consists of four 49,000-square-foot buildings with suites that range in size from 2,625 to 35,875 square feet, as well as two acres of undeveloped land for future expansion. Veritex Bank provided acquisition financing for the deal. The seller and sales price were not disclosed.
ORLANDO, FLA. — Constellation Real Estate Partners and capital partner Northwestern Mutual plan to develop Constellation Air Commerce Park, a three-building, 972,079-square-foot industrial park in Orlando. The partnership recently acquired 75.1 acres located at 10195 Boggy Creek Road, about six miles from Orlando International Airport, for the project. Within the park, Building 100 (232,497 square feet) and Building 300 (283,580 square feet) will both have front-park/rear-load configurations and Building 200 (456,002 square feet) will have cross-dock loading. C4 Architecture and Florida Engineering Group designed Constellation Air Commerce Park to achieve LEED certification. The project will feature 36-foot clear heights, multiple points of ingress/egress with full circulation, trailer parking, ESFR sprinkler systems and LED lighting. Construction is set to begin this year with completion scheduled for the third quarter of 2025. Constellation and Northwestern Mutual have tapped Jared Bonshire, David Perez, Taylor Zambito, Ryan Hubbard, Sara Bravo and Jasmine Yarbrough of Cushman & Wakefield as the leasing agents for the project.
FREMONT, CALIF. — A joint venture between Oaktree Capital Management and Hines Interests has broken ground on Milmont Industrial, an advanced manufacturing and distribution facility in the Bay Area city of Fremont. Located at 49000 Milmont Drive, Milmont Industrial will be redeveloped from three buildings into a 267,000-square-foot industrial building with high clear heights, heavy power, ample parking and loading docks. CBRE is marketing the facility for lease.
HOLBROOK, N.Y. — Locally based brokerage firm CAMCO Commercial Real Estate has negotiated a 21,450-square-foot industrial lease on Long Island. The tenant, janitorial supplies provider I. Janvey & Sons Inc., is taking space at the 300,000-square-foot Sherwood Corporate Center in Holbrook. CAMCO represented the undisclosed landlord in the lease negotiations. Premier Commercial Real Estate represented the tenant.
NASHVILLE, TENN. — Brennan Investment Group, in a joint venture with RGA ReCap Inc., has acquired two distribution facilities totaling 221,000 square feet at 5006 Harding Place in Nashville. The two buildings were fully leased to seven tenants at the time of sale. The seller and sales price were not disclosed. Associated Bank provided a $20 million acquisition loan to Brennan for the deal, which marks the investor’s fifth investment in the Nashville market since 2019, according to the company. Andrew Roberts of Associated Bank managed the loan closing on an internal basis.
ORLANDO, FLA. — JLL has brokered the $36.5 million sale of Silver Star Commerce Center, a 254,915-square-foot industrial park located at 3600-3802 Silver Star Road and 3717-3763 Mercy Star Court in Orlando. The property comprises eight buildings situated on 20 acres and features 18- to 20-foot clear heights and rear-load capabilities. At the time of sale, the park was 92 percent leased to 27 tenants. Denholtz Properties and Long Wharf Capital acquired the property. Luis Castillo, Cody Brais and Taylor Osborne of JLL represented the undisclosed seller in the transaction.
EL PASO, TEXAS — Atlanta-based investment firm MDH Partners has acquired Loop 375 Industrial, a 554,960-square-foot property in El Paso. The 36.7-acre development is located at the northeast corner of Amesbury Avenue and Joe Battle Boulevard and consists of three buildings, two of which span 107,943 square feet. The third building totals 339,074 square feet. Loop 375 Industrial features clear heights of 32 to 36 feet, a total of 191 dock doors and parking for 230 cars. Bret Felberg and Jeff Morris of Colliers represented the undisclosed seller in the transaction. Georga Rowe led the acquisition for MDH Partners. Building 1 is fully leased, as is roughly 200,000 square feet in Building 3. CBRE leases the property.
UNIVERSITY PARK, ILL. — Cushman & Wakefield has negotiated a full-building industrial lease totaling 1.6 million square feet at 701 Central Ave. in the Chicago suburb of University Park. The transaction marks the largest warehouse lease in the Chicago market in 2024, according to the brokerage firm. Sean Henrick and Ryan Klink of Cushman & Wakefield represented the landlord, W. P. Carey. Jason West, Lou D’Avanzo and Adam Cooke of Cushman & Wakefield represented the tenant, a global tech and logistics company. W. P. Carey made several capital improvements to the property. The tenant is consolidating its footprint into a single facility.
COLUMBUS, OHIO — 3650 REIT and JPMorgan Chase & Co. have provided a $62 million loan for the refinancing of Columbus Business Park, a 2.2 million-square-foot industrial development located at 4545 Fisher Road in Columbus. The borrowers are Industrial Commercial Properties LLC and Industrial Realty Group. Columbus Business Park features 225 dock doors, seven drive-in doors and clear heights ranging from 25 to 35 feet. The loan term was five years.
HOLBROOK, N.Y. — Locally based brokerage firm CAMCO Commercial Real Estate has negotiated a 17,022-square-foot industrial lease on Long Island. The tenant, food wholesaler 496 Express Foods Inc., is taking space at the 300,000-square-foot Sherwood Corporate Center in Holbrook. The space can support cold storage uses. CAMCO represented both the tenant and undisclosed landlord in the lease negotiations.