Monday, November 10, 2025
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Industrial

AcquisitionsIllinoisIndustrialMidwest

Venture One Purchases 718,709 SF Industrial Building in Monee, Illinois

by Kristin Harlow

MONEE, ILL. — Venture One Real Estate, in partnership with DRA Advisors, has purchased a 718,709-square-foot industrial building in Monee, a southern suburb of Chicago. The purchase price and seller were undisclosed. Located at 25850 Ridgeland Ave., the property is fully leased to one tenant. Constructed in 2004 and situated on 44 acres, the facility features a clear height of 30 feet, 75 exterior docks, two drive-in doors and more than 100 trailer stalls. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Scott Duerkop, Keith Stauber and Steve Ostroswki of JLL represented the seller. Brian Walsh and Lucas Borges of JLL arranged permanent financing for the transaction. Venture One utilized its acquisition fund, VK Industrial VI, which is co-sponsored by Venture One and Kovitz Investment Group.

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DevelopmentIndustrialMidwestMissouri

Keystone Construction Completes Two Corporate Headquarters Properties in Suburban St. Louis

by Kristin Harlow

CHESTERFIELD AND O’FALLON, MO. — Keystone Construction Co. has completed the corporate headquarters for both Tubular USA and SourceOne Solutions LLC in suburban St. Louis. Tubular USA, a supplier of in-line galvanized pipe and tubing, now occupies a 131,000-square-foot facility in Chesterfield that replaces two existing buildings in Weldon Spring. The project, situated within Spirit Valley Business Park, features offices, steel fabrication, warehouse space and room for future growth. Tubular’s steel products are integrated into the building’s architectural design. The project team included Gray Design Group, Stock & Associates Consulting Engineers Inc. and Knapp Engineering. The 37,500-square-foot headquarters for SourceOne Solutions is situated on a 6.4-acre site in O’Fallon. The company is involved with the design, construction, maintenance and renovation of commercial lighting solutions. The new facility was designed and constructed to allow for multiple expansions in the future. In addition to warehousing and manufacturing space, the property features 6,500 square feet of office space with a covered entry and patio, executive offices, training and conference rooms, open workstations and a café. The project team included Gray Design Group, Knapp Engineering and Civil & Environmental Consultants.

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AcquisitionsIndustrialTexas

Colliers Arranges Sale of 176,960 SF Cold Storage Building Leased to Papa Johns in Dallas

by Taylor Williams

DALLAS — Colliers has arranged the sale of a 176,960-square-foot industrial commissary and cold storage building in Dallas that is leased to Atlanta-based pizza delivery giant Papa Johns (NASDAQ: PZZA). The building features climate-controlled clearance heights, multiple dock and drive-in doors and office space. Christian Rahe, Joe Wiles, Michael Brewster and Daniel Taylor of Colliers represented the undisclosed seller in the transaction. The buyer was a group of institutional investors advised by J.P. Morgan Asset Management. The property sold for $47 million as part of a deal that included another Papa John’s cold storage facility in Orlando.

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AcquisitionsIndustrialTexas

M2G Ventures Fund Buys 120,000 SF Industrial Building in Southwest Dallas

by Taylor Williams

DALLAS — Grey Swan I, a general partner equity fund backed by North Texas-based development and investment firm M2G Ventures, has purchased a 120,000-square-foot industrial building in southwest Dallas. The single-tenant building at 4130 Platinum Way was fully leased at the time of sale to an unnamed tenant. The seller and sales price were also not disclosed.

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IndustrialLeasing ActivityTexas

ATX Auctions Signs 14,746 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — ATX Auctions has signed a 14,746-square-foot industrial lease in northwest Houston. The building at 2700 Bingle Road was originally constructed in 1976. John Harris, Jacob Summers and Stephen Hazen of locally based brokerage firm Oxford Partners represented ATX Auctions in the lease negotiations. Scott Wilkerson of Garver Real Estate represented the landlord on an internal basis.

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IndustrialLoansNew JerseyNortheast

JLL Arranges $28M Permanent Loan for Northern New Jersey Industrial Property

by Taylor Williams

NORTH BERGEN, N.J. — JLL has arranged a $28 million permanent loan for a 215,000-square-foot industrial property located in the Northern New Jersey community of North Bergen. Originally built in the 1960s and renovated in the early 2000s, the shallow-bay building was 96 percent leased to seven tenants at the time of the loan closing. Building features include 16- to 22-foot clear heights, 14 dock doors, five drive-in doors and 81 car parking spaces. Jon Mikula, Max Custer and John Cumming arranged the fixed-rate loan through Nuveen Real Estate on behalf of the undisclosed borrower.

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ConnecticutIndustrialLeasing ActivityNortheast

Osborne & Little Signs Lease Renewal at Stamford Industrial Flex Building

by Taylor Williams

STAMFORD, CONN. — Osborne & Little has signed a 14,930-square-foot lease renewal at an industrial flex building in the southern coastal Connecticut city of Stamford. The fabric and wall covering manufacturer will continue to house its headquarters at 90 Commerce Road. John Hannigan of locally based brokerage firm Choyce Peterson represented the tenant in the lease negotiations. The landlord, Stampar Associates, was self-represented.

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

Rushmark Obtains Construction Loan for 775,000 SF Industrial Development in Metro Charleston

by John Nelson

JEDBURG, S.C. — Rushmark Properties has obtained a construction loan for the development of Berkeley Commerce Center, a 775,000-square-foot industrial park in the Charleston suburb of Jedburg. Site work is currently underway, and Rushmark plans to break ground on the first of the property’s two buildings this fall. JLL Capital Markets arranged an undisclosed amount of construction financing through United Bank for the development. The first building at Berkeley Commerce Center will span 505,440 square feet and include 2,500 square feet of office space, cross-dock configuration and 36-foot clear heights. At 267,840 square feet, the second building will feature 1,200 square feet of office space, rear-load configuration and 32-foot clear heights. Rushmark expects to deliver the first two buildings in fourth-quarter 2025. The site, which fronts I-26, has the potential for three additional buildings that would bring the development to a total of 2.6 million square feet, according to Rushmark. The project team includes architect LS3P Associates, civil engineer Thomas & Hutton and general contractor HITT Contracting. Lee Allen, Kevin Coats and Tyler Smith of JLL will lead leasing and marketing efforts.

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AcquisitionsIndustrialNorth CarolinaSoutheast

JLL Brokers Sale of 94,368 SF Infill Logistics Facility in Raleigh

by John Nelson

RALEIGH, N.C. — JLL Capital Markets has brokered the sale of 309 Chapanoke Road, an infill, 94,368-square-foot logistics facility in Raleigh. Josh McArdle, Pete Pittroff, Dave Andrews, Michael Scarnato and Michael Lewis of JLL represented the seller, Beacon Properties, in the transaction. NorthBridge Partners acquired the asset for an undisclosed price. The property is fully leased to the State of North Carolina and serves as a mission-critical mail sortation and delivery center.

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IndustrialLeasing ActivityMidwestMinnesotaOffice

GN to Relocate North American Headquarters to Shakopee, Minnesota, in 2025

by Kristin Harlow

SHAKOPEE, MINN. — GN, a hearing, audio, video and gaming gear solutions company, has unveiled plans to relocate its North American hearing headquarters from Bloomington to Shakopee in 2025. The company will occupy the former Shutterfly Midwest production facility along Highway 169. GN finalized a 12-year lease and has begun planning for renovation and construction to turn the site into a 218,437-square-foot hearing aid manufacturing, repair and shipping facility. The property will also house sales, customer service and marketing support for the company’s lead hearing aid brand, ReSound, as well as professional support services for GN’s other hearing aid brands Jabra Enhance and Beltone. The company currently employs approximately 550 people in Minnesota, more than half in manufacturing jobs. GN, with global headquarters in Copenhagen, has occupied the Bloomington facility at 8001 Bloomington Freeway East since 2001. The new lease represents a 79 percent increase in space from the Bloomington location. Andrew Odney and Andrew Heieie of Colliers represented GN in the lease. Built in 2014, the Shakopee property is situated on more than 22 acres at 5005 Dean Lakes Blvd. The building features 160,000 square feet of production and warehouse space along with approximately 58,000 square feet of office …

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