NORWOOD, N.J. — Locally based brokerage firm Resource Realty has arranged a 71,870-square-foot industrial lease in the Northern New Jersey community of Norwood. Alfred Sanzari Enterprises owns the 111,300-square-foot building at 335 Chestnut St., which sits on six acres within Norwood Industrial Park and has 11 loading docks. Dan Whitehead of Resource Realty negotiated the deal on behalf of the tenant, footwear products manufacturer OrthoFeet Inc.
FREDERICK, MD. — St. John Properties has signed a lease extension and expansion with Precision for Medicine at Riverside Tech Park, a 70-acre business and research and development (R&D) property in Frederick. Precision for Medicine, a clinical research organization, has occupied space at the park since 2006. Precision for Medicine currently occupies 75,000 square feet at 8425 Precision Way. With the new agreement, the tenant will occupy an additional 41,040 square feet at 8440 Broadband Drive, a new 52,080-square-foot flex R&D building at the development, utilizing the building for office and laboratory space. St. John Properties recently completed construction at Riverside Tech Park, which comprises more than 750,000 square feet across 14 buildings. The development is located adjacent to the National Cancer Institute (NCI) and is within a mile of the Frederick Municipal Airport.
BRYAN, OHIO — SVN Wilson Commercial Group has arranged the sale of a Sheperd Storage facility in Bryan, a city in northwest Ohio. The sales price and buyer were undisclosed. The two-building property features 98 indoor units with four outdoor parking spaces. The 12,000-square-foot facility sits on a five-acre site with room for expansion. Ryan Mitchell of SVN Wilson Commercial Group represented the seller, Charles Sheperd.
SPARKS AND RENO, NEV. — Dornin Investment Group has acquired a 20-building portfolio in Sparks and Reno for approximately $70 million. Totaling 413,172 square feet, the portfolio includes light industrial, retail and medical office properties. The majority of the buildings were constructed between 1977 and 1991, with retail assets built in 2005 to 2006. The portfolio collectively has more than 180 total tenants with a median size of 1,640 square feet. The office buildout of the warehouse units is 21.7 percent. The industrial buildings offer clear heights ranging from 12 feet to 16 feet. Mark Nicoletti, Maxwell Shapiro and Julia Lewitt of Allen Matkins provided legal expertise in the transaction. Bill Bernard and Tami Haworth of Stewart Title provided title and escrow services.
ATLANTA — Dermody Properties has purchased two industrial facilities within Gillem Logistics Center, an industrial park in south Atlanta. The developer, locally based Robinson Weeks Partners, sold the assets for an undisclosed price. The properties include Building 700, a 169,520-square-foot facility, and Building 1200, a 378,520-square-foot building. Wes Hardy represented Dermody in the transaction on an internal basis, and Trey Barry of CBRE represented Robinson Weeks.
RINCON, GA. — Stonemont Financial Group has signed Armstrong Logistics Inc., a warehousing and logistics service provider based in California, to an industrial lease near Port of Savannah. The logistics firm will fully occupy Building 4A, a 733,200-square-foot cross-dock facility, at Georgia International Trade Center (GITC), a 1,150-acre industrial park in Effingham County that Stonemont Financial is co-developing with The Davis Cos. and Chesterfield. Located in Rincon, the facility features 40-foot clear heights, 175 dock-high doors, four drive-in doors and 208 trailer stalls. Scott Mertz of NAI Global brokered the transaction. Additional partners for the project include Omega Construction as the general contractor, Atlas Collaborative as the architect and Thomas & Hutton as the civil engineer. Stephen Ezelle of Cushman & Wakefield/Gilbert & Ezelle is handling all leasing at GITC. Building 4A is the 10th warehouse that Stonemont Financial has delivered at the park.
GRAYSON COUNTY, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 76-acre industrial development site located along FM 1417 in Grayson County, about 70 miles north of Dallas. The site offers immediate proximity to Texas Instruments’ semiconductor manufacturing plant in Sherman and will be marketed to industrial users supporting that facility. John St. Clair, Davis Willoughby and Tyler Hemenway of Younger Partners represented the seller, a family estate, in the transaction. The buyer was a local entity doing business as Investment Catalysts LLC.
LANGHORNE, PA. — Locally based brokerage firm Roddy Inc. has negotiated a 20,160-square-foot industrial lease at 181 Wheeler Court in Langhorne, a northeastern suburb of Philadelphia. The 100,055-square-foot building sits on 7.4 acres near I-95, the Pennsylvania Turnpike and the New Jersey Turnpike. Sean Durkin of Roddy Inc. represented the tenant, Vintage Imports, in the lease negotiations. Andrew McGhee of Colliers represented the landlord, an affiliate of Los Angeles-based Ares Management Corp.
COLUMBUS, OHIO — Alston Construction has completed Castings Commerce Park, a three-building speculative industrial park developed on the site of the former Columbus Castings steel foundry. The project team included developer and owner Stonemont Financial and architect and interior designer Ware Malcomb. The project totals 862,000 square feet with 171 loading positions. The 71-acre site once served as the largest steel foundry in North America, according to Ware Malcomb, which designed office uses into each of the buildings.
AUSTIN AND TAYLOR, TEXAS — South Korea-based Samsung Electronics will receive up to $6.4 billion in direct funding under the CHIPS and Science Act for multiple projects at two separate locations in Central Texas. The U.S. Department of Commerce has signed a non-binding preliminary memorandum of terms (PMT) with the tech giant, which now plans to increase its investment in the state of Texas to $40 billion. Funding will be used for the development of new facilities in Taylor — roughly 35 miles northeast of Austin — as well as for the expansion of Samsung’s existing Austin facility. The proposed investment is expected to support the creation of more than 20,000 jobs, including 4,500 manufacturing positions. Samsung, which has been manufacturing computer chips in the United States since 1996, previously announced plans for the Taylor facilities and an investment of $17 billion in November 2021. The company also plans to claim the Department of the Treasury’s investment tax credit, which is expected to cover up to 25 percent of qualified capital expenditures. In Taylor, the manufacturing site will include two fabrication plants, a research-and-development (R&D) facility focused on the development and research of new technology and an advanced packaging facility …