FLOWER MOUND, TEXAS — A partnership between Hopewell Development and MBK Industrial Properties has broken ground on Lakeside Business Center, a 123,910-square-foot building in Flower Mound, a city located in the northern-central part of the metroplex. Lakeside Business Center will consist of two buildings with 32-foot clear heights, a 200-foot shared truck court, ESFR sprinkler systems and a total 16 dock doors and two ramped doors. Lee & Associates is marketing the development for lease and/or sale. Completion is scheduled for summer 2025.
HOUSTON — Alterra IOS has acquired two industrial outdoor storage sites totaling 7.2 acres in the eastern Houston suburb of Baytown. The sites at 8121 and 8223 Parkside Ave. are located within Bay 10 Business Park and house a combined 50,000 square feet of warehouse space. Lee & Associates brokered the sale. The seller and sales price were not disclosed. Alterra IOS plans to make capital improvements into the sites, including adding speculative office space and a reinforced concrete yard at 8121 Parkside.
BAYONNE, N.J. — Locally based developer Lincoln Equities Group has completed a 332,640-square-foot speculative industrial project in Northern New Jersey. Lincoln Logistics Bayonne sits within a 153-acre waterfront site that also houses an 886,256-square-foot UPS shipping hub. In addition to a clear height of 40 feet and 66 dock doors, the property features five acres of parking space that can support 195 trailers and 225 cars, or 45 trailers and 800 cars. Construction began in May 2022. Cushman & Wakefield is marketing the project for lease.
CYNTHIANA, KY. — NAI Isaac has arranged the sale of a 100,000-square-foot industrial facility located at 736 US Highway 27 in Cynthiana, roughly 30 miles northeast of Lexington. Grand Rapids, Mich.-based Herdegen Commercial Equipment LLC, a liquidator of corporate equipment and other fixed assets, purchased the facility for an undisclosed price. Bruce Isaac of NAI Isaac represented the undisclosed seller in the transaction. According to LoopNet Inc., the facility is a single-tenant building that was delivered on a 7.5-acre site in 1964. The property features 19-foot clear heights, two dock doors and four drive-in doors. The acquisition also includes a separate 7,000-square-foot facility at the site.
EASTON, PA. — NAI Summit has arranged the $3 million sale of the historic former Crayola warehouse and distribution center in the Lehigh Valley community of Easton. Originally built in the 1890s as a manufacturing facility by Crayola predecessor Binney & Smith, the property consists of four buildings totaling 94,000 square feet on an 8.9-acre site. Matt Sprung of NAI Summit represented the seller, an out-of-state investor, in the deal. A local developer purchased the property with plans to implement a residential conversion.
LAFAYETTE, N.J. — The Metropolitan YMCA of the Oranges will open a 10,200-square-foot pickleball facility in the Northern New Jersey community of Lafayette. The six-court facility will be located within a freestanding industrial flex building at 11 Millpond Drive and is expected to open in November. John Schilp of NAI James E. Hanson represented the landlord in the lease negotiations. HQW Architects is designing the space, and Berardi Building Co. is handling the build-out.
CHICAGO — Chicago-based Logistics Property Co. LLC has received a $205 million permanent loan from PGIM Real Estate. The loan included five projects within the firm’s first develop-to-core fund, LPC Logistics Venture One LP. The five projects total nearly 2.7 million square feet across seven buildings. Frederickson ONE, Building 4 and Building 7 are in the Seattle market, 94 Logistics Park is in the Chicago market and Logistics 83 and North Penn Logistics Center are in the Southeast Pennsylvania/New Jersey market.
MONUMENT, COLO. — Ware Malcomb has announced the completion of a flagship facility for Eagle Rock Distributing Co. in Monument, approximately 20 miles north of Colorado Springs. Ware Malcomb provided integrated services, including civil engineering, architecture and interior design, and Murray & Stafford provided general contracting services for the 272,500-square-foot project. Eagle Rock specializes in the distribution of alcoholic beverages, offering its customers a selection of premium, craft and imported beers, wine, spirits, liquors and other related beverages. The distribution center consists of two buildings: a 262,500-square-foot distribution center and an adjacent 10,000-square-foot maintenance facility to service the company’s trucks. The distribution center includes 209,175 square feet of Controlled Environment Warehouse (CEW), a 12,480-square-foot key cooler, 30,125-square-foot two-story office space, loading docks and an event hosting area on each floor with an outdoor patio. The maintenance facility has a sand/oil interceptor and sanitary line connected. Additional improvements include solar panels covering most of the roofing, an asphalt parking lot, delivery truck loading ramps, concrete sidewalks, landscaping and all associated utilities.
PHOENIX — Stos Partners has purchased 236 and 240 North 48th Avenue in Phoenix from an owner-user for an undisclosed price. Situated on 5.3 acres, the property includes two freestanding industrial buildings totaling 94,836 square feet. Constructed in 1978, the 83,200-square-foot warehouse at 240 N. 48th Ave. features 3,450 square feet of office space, 24-foot clear heights, 19 dock-high doors, two grade-level loading doors, 7,000 amps, 45 parking spaces and direct access to Union Pacific Railroad with 10 rail spots. Built in 1979, the 11,636-square-foot building at 236 N. 48th Ave. offers 4,200 square feet of office space, one dock-high door, two grade-level loading doors and 14 auto parking spaces. Stos Partners plans to commence capital improvements to enhance the two buildings’ functionality and appeal, including exterior paint, parking lot and loading areas repairs, dock and ground-level doors repairs and roof and electrical system repairs. Phil Haenel, Gary Anderson and Foster Bundy of Cushman & Wakefield facilitated the transaction. Gary Anderson and Nik Vallens of Cushman & Wakefield are handling leasing for the buildings on behalf of Stos Partners.
LANHAM, MD. — Baldor Specialty Foods has opened a new 100,000-square-foot warehouse in Lanham, a Maryland suburb of Washington, D.C. The new facility is situated within Hargrove Industrial Campus and features 35 dock doors and refrigeration and frozen storage capabilities. Baldor currently has a staff of 140 employees at the facility, with plans to hire more drivers and warehouse staff. The Lanham facility serves as the fourth hub for the food distributor, joining Baldor’s headquarters in The Bronx and regional hubs in Boston and Philadelphia. The Lanham facility houses more than 7,000 premium and specialty produce, meat, fish, dairy and grocery items.