RIO RICO, ARIZ. — Arizona Food Bank Network has acquired 35,920 square feet of industrial space at 13 Calle Cristina in Rio Rico, approximately 60 miles south of Tucson near the Mexico border. ACKA #3 Partnership sold the property for $2.7 million. Jose Dabdoub of Cushman & Wakefield | PICOR represented the seller, while Brian Uretzky of Keyser represented the buyer in the deal.
Badiee Development has logistics and industrial projects throughout the Western U.S., but its current focus is the region’s three S’s: San Diego, Sacramento, Calif., and Salt Lake City. “Badiee Development is prioritizing leasing at our existing projects in San Diego and Sacramento, and entitling future projects in San Diego, Sacramento and Salt Lake City,” says Ben Badiee, the firm’s founder and CEO. “Our company holds a ‘land bank’ with plans to develop more than 2 million square feet across four distinct projects in three markets.” San Diego Badiee’s headquarters is ripe with industrial ventures for the firm. These include the two-building, 242,969-square-foot Sanyo Logistics Center and the 38-acre Britannia Airway Logistics Center, both of which are being built near the Mexican border in Otay Mesa. Britannia Airway has also been entitled for an interim use of industrial outdoor storage (IOS), allowing the project to accommodate about 1,000 trucks and trailers. “Being in our ‘backyard,’ Otay Mesa has proven to be a highly successful market for the firm,” Badiee says. “It is at the forefront of the onshoring/nearshoring trend for the U.S. and Mexico, and land availabilities are scarce.” Sacramento Land scarcity has also been a driver for Badiee in Sacramento …
MARSHALL, MINN. — The U.S. Department of Energy Loan Programs Office has provided a $213.6 million loan guarantee to support the construction of Solugen’s Bioforge Marshall facility in Southwest Minnesota. The 500,000-square-foot facility will produce bio-based chemical products for use in wastewater treatment, industrial wastewater, construction, agriculture and the energy sector. The project is designed to reduce annual carbon emissions by up to 18 million kilograms compared with incumbent production methods. Construction began in April, and production at the facility is scheduled to begin in fall 2025. The development will create up to 100 jobs during construction and 56 full-time manufacturing jobs once fully operational.
GOODYEAR, ARIZ. — American Gem Packaging Solutions has acquired a 50,594-square-foot industrial building located at 2760 S. La Luna in Goodyear, a western suburb of Phoenix. A1 Desert Investments sold the asset for $4.7 million. Jeffrey Garza Walker represented the buyer, while the seller was self-represented in the deal.
PICKENS COUNTY, S.C. — RealtyLink has purchased 115 acres behind the former Greenville-Pickens Speedway in Pickens County, directly west of Greenville, S.C. The locally based developer plans to initially invest $100 million in Phase I, which will comprise 1 million square feet of industrial space. At full build-out, Speedway Business & Technology Park will span 600 acres and comprise up to 4 million square feet of industrial space. The park will also include sidewalks, walking trails and other amenities. Phil Wilson and Stan Tzouvelekas of RealtyLink, along with CBRE, are seeking tenants for the development. Inaugural tenants of Speedway Business & Technology Park will be announced in the weeks and months to come.
BOYNTON BEACH, FLA. — JLL has secured $52.3 million in construction financing from First Citizens Bank for Egret Point Logistics Center, a 457,110-square-foot industrial development underway at 3800 S. Congress Ave. in Boynton Beach. Steven Klein, Melissa Rose and Mateo Bolivar of JLL arranged the financing on behalf of the borrower, a joint venture between Foundry Commercial and Wheelock Street Capital. Once the site for a Baptist Health System clinic, Egret Point is situated on a 30.8-acre site about 22 miles south of West Palm Beach with frontage along I-95. The development will feature two Class A logistics buildings of varying sizes. The construction timeline was not disclosed.
RAVENNA, OHIO — Geis Cos. has completed a 248,000-square-foot manufacturing facility for LG America in Ravenna, about 15 miles east of Akron. The two-building property consists of a three-story, 100,000-square-foot Customer Solutions Building and a single-story, 148,000-square-foot Acrylonitrile Butadiene Styrene (ABS) Compounding Building. The latter building features a fitness room, employee cafeteria and multiple labs for testing, inspection and weighing ABS compounds. Geis and First Energy worked together to engineer a transmission line and substation that is now owned by LG and will power the facility. The project involved significant coordination with the LG design team in South Korea. Geis Construction provided design-build services.
PORTLAND, ORE. — Gantry has arranged a $16.2 million permanent loan for the acquisition of a warehouse facility located at 6447 N. Cutter Circle in Portland. FedEx Ground fully occupies the 212,000-square-foot building, which was redeveloped in 2015. The 126-door, cross-docked facility offers ready access to the Port of Portland, Interstate 5, Union Pacific Railroad and Portland International Airport. Tony Kaufmann and Joe Foley of Gantry’s San Francisco production office represented the borrower, a private real estate investor. The long-term, fixed-rate loan was secured from one of Gantry’s correspondent life company lenders and structured with a term that exceeds the tenant’s firm lease term. The loan features interest-only payments for half the term, followed by a 30-year amortization period.
BEACH PARK, ILL. — Marcus & Millichap has brokered the sale of Self Storage of Beach Park, a 57,050-square-foot self-storage property in Beach Park, a city in northeast Illinois. The sales price was undisclosed. Completed in 2021, the asset features 197 non-climate-controlled units and 250 climate-controlled units within three single-story buildings. Sean Delaney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, Extra Space Storage. The property will be rebranded as Storage Express.
DALLAS — Newmark has arranged the sale of PROTO Park, a 257,192-square-foot industrial property located in Dallas. PROTO Park is a redevelopment of a 1960s-era brick warehouse that sits on a nine-acre site in the city’s Brookhollow area and features 24-foot clear heights. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark represented the seller, North Texas-based M2G Ventures, which developed the project in partnership with Pennybacker Capital, in the transaction. The buyer was California-based investment firm Bendetti. At the time of sale, PROTO Park was fully leased to tenants such as Dynasty Spirits, Taxila Stone, Preziosa Stone and an undisclosed aviation firm.