LAREDO, TEXAS — JLL has arranged an undisclosed amount of acquisition financing for a 250,000-square-foot warehouse located on an 18-acre site in the Rio Grande Valley city of Laredo. Completed in late 2023, the property was fully leased at the time of the loan closing. Building features include 30-foot clear heights, 48 docks, 3,000 square feet of office space and parking for 272 cars and 233 trailers. Peter Rotchford, David Sitt, Jarrod McCabe, Foster Huggins and Jordan Buck of JLL arranged the floating-rate loan through Connecticut-based Shelter Growth Capital Partners. The borrower is New York City-based Thor Equities.
ALLEN, TEXAS — Xtera Ltd. has signed a 21,192-square-foot industrial lease in Allen, a northeastern suburb of Dallas. The provider of underwater cable systems is taking space at 121 Technology Park, a 735,000-square-foot development by Stillwater Capital. Christopher Schafer of Cresa represented the tenant in the lease negotiations. Ken Wesson of Lee & Associates represented the landlord.
SOUTH PARIS, MAINE — In a sale-leaseback transaction, MAG Capital Partners has acquired the manufacturing and headquarters facility of KBS Builders, a wholly owned subsidiary of Star Equity Holdings. The 84,800-square-foot facility, which is located about 30 miles from the Maine-New Hampshire border in South Paris, was originally built on 18.6 acres in 2004 and features a clear height of 40 feet and nine dock doors. Jeff Lizzo and Krupa Shah of STREAM Capital Partners represented KBS Builders in the transaction. The sales price was not disclosed.
Tolles Development Receives $114M in Financing for 890,000 SF Airway Commerce Center in Reno, Nevada
RENO, NEV. — CBRE has arranged $114 million in financing for Airway Commerce Center in Reno on behalf of Tolles Development Co. Mike Walker and Brad Zampa of CBRE’s debt and structured finance team secured the three-year, nonrecourse loan from Barings, a Massachusetts-based global investment management firm. Eric Bennett of CBRE is handling leasing, while CBRE’s Brett Hartzell facilitated the sale. Located at 3000-3030 Airway Drive, Airway Commerce Center features four buildings offering a total of 890,000 square feet of Class A industrial space. The buildings feature high clear heights, ample car and trailer parking, 152 dock-high doors, 28 drive-in doors and multiple points of ingress/egress. Airway Commerce Center is adjacent to the Reno-Tahoe International Airport and is within five miles of the regional and national freeways, including interstates 580 and 80, McCarren Boulevard, downtown Reno and the California-Nevada border.
CHANDLER, ARIZ. — Creation has completed the disposition of Midway Commerce Center, a master-planned industrial park in the Phoenix suburb of Chandler. Boston-based Longpoint Realty Partners purchased the asset for $57 million. Located at the northeast corner of Germann Road and Hamilton Street, Midway Commerce Center consists of three buildings offering a total of 301,994 square feet of light industrial space on 18.3 acres. Will Strong and Molly Hunt of Cushman & Wakefield handled the transaction. Ken McQueen, Chris McClurg and Blake Peters of Lee & Associates supported leasing efforts and will remain involved following the sale. LGE Design Build completed construction of Midway Commerce Center earlier this year.
HOUSTON — A joint venture between Dallas-based Apricus Realty Capital and ABR Capital has acquired a 9.7-acre industrial outdoor storage (IOS) facility in North Houston. The facility at 15800 Export Plaza is adjacent to George Bush Intercontinental Airport and comprises 89,000 square feet across four warehouses and one office building. Jason Tangen and Paul Dominique of Colliers, in conjunction with internal agents Matt Haley, Garrett Marler and Cort Martin of Apricus, represented the buyer in the transaction. Jason Powell of Northmarq represented the undisclosed seller.
WEST COXSACKIE, N.Y. — Regional investment firm Winstanley Enterprises has purchased Prime Logistics Center, a 333,386-square-foot industrial property in West Coxsackie, about 25 miles south of Albany. The 30.7-acre site is located within a larger industrial park, and the building previously housed the distribution operations of grocer Save A Lot. Building features include 61 loading docks, two drive-in doors and parking for 77 trailers and 216 passenger vehicles. The seller and sales price were not disclosed. Winstanley plans to make capital improvements and rebrand the property as Mid-Hudson Logistics Center.
SALT LAKE CITY — Stos Partners has entered the Salt Lake City market with the acquisition of an industrial complex located at 900 W. 2900/2950/3100 S in Salt Lake City for $35 million, or $118 per square foot. The name of the seller was not released. Stos Partners plans to immediately implement a capital improvement program to stabilize and re-tenant the asset. Situated on 14.5 acres, the 279,233-square-foot facility features 22-foot clear heights, 49 dock-high doors and 18 drive-in ground-level doors. Eli Priest, Jeff Heaton and Kyle Roberts of Newmark are handling leasing for the property. Alex Harrold of Mathews Real Estate represented Stos Partners in the off-market transaction.
TEMPE, ARIZ. — LBA Logistics has completed the disposition of University Logistics Center, an industrial and logistics building on nine acres in Tempe. Setna iO and Setnix, an owner/occupier, acquired the asset for $27.5 million. Located at 1345 S. 52nd St., the 112,300-square-foot facility features 3,500 square feet of office space, 32-foot clear heights, three dock-high doors, 10 drive-in load doors, three truck wells, a concrete truck court, 18 new windows, storefront entry for will call, new LED lighting for the interior space and parking areas, secured parking and trailer storage and multiple points of ingress/egress. Additionally, the property offers 494 parking spaces. The buyer plans to use the facility to expand its operations, which focuses on aftermarket aircraft parts supply and high-tech airplane parts machining and repair. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, while Todd Hamilton of Citywide Commercial Real Estate, along with Denise Stain Chaimovitz of Entre Commercial Realty, represented the buyer in the deal.
KANSAS CITY, MO. — Bayview PACE has provided a $20.5 million C-PACE loan for the construction of a $72 million headquarters facility for Master’s Transportation in Kansas City. Bayview says the C-PACE financing provided a complementary role in the capital stack of the development, which is now under construction and slated to open in 2025. Other financing includes a $31 million construction loan and $20 million in sponsor equity. Master’s is a bus and transportation fleet operator serving 26 states. The 324,000-square-foot facility will consolidate eight other area locations. C-PACE financing offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components. It can be applied to new construction or renovations. In this transaction, PACE financing was used in place of a participant bank. Kansas City-based Miller Stauch Construction Co. is the general contractor, and Eskie & Associates is the owner’s representative. Kansas City-based Finkle + Williams Architecture is the project architect.