LAREDO, TEXAS — SE Legacy Development LLC, a development firm founded by the Walker Family, has broken ground on a $7.4 billion master-planned project in South Texas. The development, named Talise, will be situated on 13,000 acres north of Laredo in an unincorporated portion of Webb County. Situated at the intersection of I-35, U.S. Highway 83 and Texas Highway 255, Talise will feature thousands of single-family and multifamily residences, an industrial and manufacturing park, town center retail space, regional airport and a newly discovered water source. The name Talise is a term with Native American-Iroquoian roots meaning “lovely water.” The Walker Family, a multi-generational entity that has owned ranch land spanning more than 250,000 acres over the course of its history, owns the land for Talise and is investing $1.6 billion in the development. The Walker Family discovered the water source on the land and is proposing a way to use the resource as an alternative solution to current water shortages in Laredo and Webb County. The newly established Legacy Water Supply Corp. is proposing a method to treat 50 million gallons of water within the Talise land holdings daily. SE Legacy Development is drilling 40 water wells to access …
Industrial
FORT PIERCE, FLA. — CBRE has secured a 1 million-square-foot lease on behalf of landlord SL Industrial Partners at 5001 Crossroads Parkway in Fort Pierce, a city in South Florida’s St. Lucie County. The tenant, Atlanta-based BroadRange Logistics, a third-party logistics warehousing and service provider, will occupy the space later this year. Robert Smith, Kirk Nelson, Jeff Kelly, David Murphy and Monica Wonus of CBRE represented SL Industrial Partners, a member of The Silverman Group family of companies, in the lease negotiations. This lease marks BroadRange’s third warehouse in Florida, adding to locations in Orlando and Ocala, as well as the largest industrial lease in Florida year-to-date, according to CBRE. Dubbed Interstate Crossroads Logistics Center, the newly delivered warehouse features 40-foot clear heights, LED lighting, ESFR sprinklers, 232 dock-high doors, four drive-in doors, 472 parking spaces and 412 trailer spaces. The property sits on a 132-acre site between I-95 and the Florida Turnpike.
Malman Commercial Real Estate Brokers Sales of Two Industrial Buildings in Colorado for $21.2M
by Amy Works
AURORA AND DENVER, COLO. — Malman Commercial Real Estate has arranged the off-market sales of two industrial buildings in Aurora and Denver for a total of $21.2 million. Jake Malman of Malman Commercial Real Estate represented the sellers of the buildings, which total 205,966 square feet. The buyers were not represented in the transactions. In one deal, 4999 LTD sold a 50,050-square-foot industrial warehouse at 4999 Oakland St. in Denver to 4999 Oakland Owner LLC, a Delaware limited liability company. In the second transaction, 40th Street Partners LLC sold a 155,916-square-foot distribution building at 18245 E. 40th Ave. in Aurora to 18245 40th Owner LLC.
Sun State Builders Completes 122,780 SF Gateway Quads Industrial Center in Mesa, Arizona
by Amy Works
MESA, ARIZ. — Tempe-based Sun State Builders, on behalf of Greenwood and McKenzie Real Estate Investments, has completed Gateway Quads, a $17 million, 122,780-square-foot industrial center in Mesa. Situated on 10 acres on East Germann Road and South 18th Street, Gateway Quads features four 30,6800-square-foot industrial and retail buildings, which are divisible to 7,600 square feet. The buildings offer 24-foot ceilings and multiple truck loading areas. Winston Architects worked on the project, with construction beginning in August 2023.
GILROY, CALIF. — Gilroy Ventures LLC, a real estate investor, has acquired a commercial building on 13.7 acres in Gilroy, approximately 30 miles southeast of San Jose. Gilroy JRV LLC sold the asset for $13.8 million. Located at 7900 Arroyo Circle, a recreational vehicle business currently uses the 125,597-square-foot property as an indoor/outdoor showroom. The flexible property can also accommodate a variety of commercial uses, such as showroom, retail, warehouse and automotive. Miki Correa of Cushman & Wakefield, along with CBRE’s Rick Shaffer, Marie Anderson and John Shaffer, represented the seller in the transaction.
MAUI, HAWAII — DXD Capital has broken ground on a Class A self-storage facility in Maui. The 45,863-square-foot property will offer 357 individual storage units within the Maui Research & Technology Park in the Kihei area. The facility will feature drive-up, non-climate-controlled units. DXD plans to open the facility in the first quarter of 2025. RYCON will serve as general contractor, and American Savings Bank is the construction lender. Extra Space will manage the facility upon completion. DXD acquired the site in April 2023 through its second fund, DXD Self Storage Fund II, which launched in June 2022. The fund has since invested in seven self-storage developments and one seven-facility portfolio acquisition across the United States.
NEW YORK CITY — Cushman & Wakefield has arranged a $220 million loan for the refinancing of a national portfolio of nine industrial buildings totaling 2.1 million square feet. The buildings are located in California, Florida, Illinois, Nevada and Maryland and range in size from 156,000 to 482,000 square feet. Rob Rubano, John Alascio, Alex Hernandez, Brian Share, Alex Lapidus, Joe Lieske, T.J. Sullivan, Ernesto Sanchez and Jason Blankfein of Cushman & Wakefield arranged the debt on behalf of the borrower, Ares Industrial Real Estate Income Trust. Affiliates of global private equity firm KKR provided the loan.
NEW CENTURY, KAN. — CJ Logistics America, a supply chain and technology company, has unveiled plans to build a new cold storage warehouse in New Century, about 30 miles outside of Kansas City. Developed in a joint venture with Yukon Real Estate Partners and BGO, the rail-served project will consist of a 291,000-square-foot warehouse with refrigeration. Completion is slated for the third quarter of 2025. The new warehouse will be attached to Upfield’s production plant through an above-ground conveyor bridge being constructed by Upfield, which is a plant-based food company that produces brands such as Country Crock, I Can’t Believe It’s Not Butter and Imperial. There will be 100,000 square feet available at the project for other tenants.
CANTON, MICH. — Bernard Financial Group (BFG) has arranged a $5 million loan for the acquisition of a 61,148-square-foot industrial property in Canton, a western suburb of Detroit. Dan Duggan of BFG arranged the loan on behalf of the borrower, 55111 Grand River Partners LLC. StanCorp Life Insurance Co. provided the loan.
PENNSAUKEN, N.J. — An affiliate of SNS Real Estate Investment Group has purchased a 30,266-square-foot vacant warehouse in the Northern New Jersey community of Pennsauken. According to LoopNet Inc., the building at 7101 Airport Highway was constructed in 1962 and features a clear height of 14 feet and three exterior dock doors. The site also houses a fenced-in yard area for outdoor storage. Ian Richmond of Colliers brokered the deal. The seller and sales price were not disclosed.