HOUSTON — Locally based brokerage firm Oxford Partners has arranged a 32,000-square-foot industrial sublease in northwest Houston. According to LoopNet Inc., the property at 5910 North by Northwest Blvd. was built in 1998 and totals 96,000 square feet. Austen Buckalew and Matt Rogers of Oxford Partners represented the tenant, SiYi America Hardware LLC, in the lease negotiations. The name and representative of the landlord were not disclosed.
FALL RIVER, MASS. — Massachusetts-based development and investment firm VMD Cos. will develop The Campus at Innovation Way, a 900,000-square-foot industrial park that will be located near the Massachusetts-Rhode Island border in Fall River. The Campus at Innovation Way will consist of four buildings ranging in size from 203,800 to 291,200 square feet. Each building will feature a clear height of 36 feet, 48 tailboard loading docks and 180-foot truck court depths. The development is fully entitled, and VMD Cos. expects to break ground in the coming days. Delivery is slated for the second quarter of 2025. Newmark has been appointed as the leasing agent.
BOISE, IDAHO, AND CLAY, N.Y. — Micron Technology Inc. (NASDAQ: MU) has signed a preliminary memorandum of terms (PMT) with the Biden Presidential Administration to receive $6.1 billion in funding under the CHIPS and Science Act to support new microchip manufacturing operations. The grants will support Micron’s plans to invest approximately $50 billion in gross capital expenditures for U.S. domestic memory manufacturing through 2030. These grants and additional state and local incentives will support the construction of one manufacturing facility to be co-located with the company’s existing R&D facility in Boise, as well as the construction of two manufacturing facilities in Clay, a suburb of Syracuse. Micron says the facilities are expected to create approximately 75,000 domestic jobs over the next 20-plus years. In Idaho, this includes 2,000 Micron jobs, 4,500 construction jobs and 15,000 indirect jobs. In New York, this includes 9,000 Micron jobs, 4,500 construction jobs and 40,000 indirect jobs. The two projects, as planned, will represent the single largest private investments ever made in the states of Idaho and New York, according to the company.
ELGIN, ILL. — Lee & Associates has negotiated a 106,120-square-foot industrial lease renewal and expansion at 300 Airport Road in Elgin. The tenant is UVA Distributors, a wine and spirits distributor. The lease includes UVA’s current unit of 46,130 square feet plus a 59,990-square-foot expansion. Kenneth Franzese, John Cassidy and Jeff Janda of Lee & Associates represented the owner, LINK Logistics. Mike Berkowitz of Entre Commercial represented the tenant. Built in 2010 and known as Fox River Business Center, the property totals 176,799 square feet and features a clear height of 30 feet.
BUCKEYE, ARIZ. — Philadelphia-based EQT Exeter has acquired an industrial building, located at 440 N. 215th Ave. in Buckeye, from BET Investments for $60.1 million. The buyer plans to rebrand the property as I-10 Gateway. Buckeye is located approximately 30 miles west of Phoenix. Situated on 40 acres, I-10 Gateway features 641,906 square feet of Class A industrial and logistics space. At the time of sale, the property was fully vacant. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller and buyer in the deal. EQT Exeter retained Andy Markham and Mike Haenel of Cushman & Wakefield to serve as the project’s leasing team.
MESA, ARIZ. — Wespac Construction has broken ground on the new U.S. headquarters and manufacturing facility for XNRGY Climate Systems at Gateway East at Phoenix-Mesa Gateway Airport in Mesa. The new facility will serve as the U.S. headquarters for XNRGY’s HVAC and climate control solutions. The 275,000-square-foot first phase is part of a four-phase development plan that will eventually include 1 million square feet of sustainable manufacturing space. Located within Gateway East, a master-planned development on the east side of Phoenix-Mesa Gateway Airport, the site offers connectivity with direct access to major transportation routes, including Loop 202 and State Route 24, as well as nearby connections to Ray, Ellsworth and Pecos roads. Project stakeholders include The Boyer Co., Gensler, Dibble Engineering, Caruso Turley Scott and IMEG.
GLENDALE, ARIZ. — Echo Real Estate Capital and LGE Design Build have completed Echo Park 303, a two-building industrial project near the intersection of Northern Parkway and Reems Road in Glendale, a suburb of Phoenix. Totaling 676,176 square feet, Echo Park 303 includes 220,240-square-foot Building A and 455,936-square-foot Building B. Situated on 40 acres, the site offers ample parking, including 743 parking spaces and gated yards to accommodate nearly 150 trailer spaces. HubStar Logistics signed a lease to occupy the entirety of Building A. Designed and built by LGE, Echo Park 303 features two stories of storefront window systems placed to maximize natural lighting within the lobbies and office spaces located at the corners of the buildings. JLL is handling leasing for the project.
LANDIS, N.C. — Jackson-Shaw has broken ground on Landis Ridge, a 1.3 million-square-foot industrial park in Landis, a northeast suburb of Charlotte in Rowan County. The Dallas-based developer plans to deliver the project, its first in the Charlotte area, in two separate phases. Phase I is slated for a second-quarter 2025 delivery and will comprise three buildings totaling nearly 600,000 square feet. Situated on nearly 150 acres at 619 Old Beatty Ford Road, the parcel is located midway between US Route 29 and the new exit 65 on I-85. Jackson-Shaw is developing Landis Ridge on a speculative basis with various uses in mind, including third-party logistics occupiers, e-commerce distribution, consumer goods, warehousing and manufacturing. Jay Hill, Spencer Yorke and Matthew Greer of JLL are leading leasing efforts. Compatriot Capital is Jackson-Shaw’s equity partner for Landis Ridge, and Hartford Investment Management Co. (HIMCO) provided construction debt financing. The design-build team includes general contractor Frampton Construction, civil engineer Orsborn Engineering Group and architect Merriman Schmitt Architects.
HOUSTON — A joint venture between locally based developer Vigavi and Principal Asset Management has broken ground on Westport 45, a 728,080-square-foot industrial project in North Houston. The 42-acre site at 410 West Road is located near the intersection of I-45 and Beltway 8, and the development will feature 40-foot clear heights, speculative office space and 180 trailer parking stalls. Seeberger Architecture is designing the project, and Angler Construction is serving as the general contractor. JLL will market the property for lease. Delivery is slated for early 2025.
TAMPA, FLA. — A joint venture between PCCP LLC and Stonemont Financial Group plans to break ground next month on a 100,620-square-foot speculative industrial facility in Tampa. Called TIA Executive Center, the project will be located at 6101 Johns Road, which is within two miles of Tampa International Airport and immediately north of Executive Industrial Park. The property will offer 32-foot clear heights, spec office suites and will be divisible down to around 33,000 square feet to accommodate smaller users. PCCP and Stonemont Financial plan to deliver TIA Executive Center in first-quarter 2025. The project team includes general contractor Frampton Construction, architect Harley Commercial Architecture and civil engineer Kimley-Horn. JLL will handle leasing on behalf of the co-developers.