ALLENTOWN, PA. — NAI Summit has brokered the sale of a 32,329-square-foot warehouse located at 801 W. Greenleaf St. in the Lehigh Valley city of Allentown. According to LoopNet Inc., the property was originally built in 1925 and renovated in 1990 and features a clear height of 18 feet. Mike Adams and Sarah Finney Miller of NAI Summit represented the seller, personal care products manufacturer Spartan Brands, in the transaction. The Allentown Economic Development Corp. purchased the building for $1.4 million.
LAS VEGAS — CommCap Advisors has arranged $7.2 million in refinancing for Spencer Street Industrial in the Las Vegas Airport submarket. The borrower was Spencer Street Investors LLC. The property consists of two single-story multi-tenant warehouse and distribution facilities totaling 162,342 rentable square feet. CommCap Advisors secured the full-term interest-only loan through one of CommCap’s correspondent life insurance companies.
BATAVIA, ILL. — Brown Commercial Group has brokered the sale of an 18,500-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. Dan Brown of Brown Commercial Group represented the seller, Robart Manufacturing. Luke Dummitt of Brown Commercial Group represented the buyer, Acevision, an ultrasound sales, parts and repair provider. The company is expanding from its 9,000-square-foot lease in St. Charles, Ill.
MCKINNEY, TEXAS — Newmark has negotiated the sale of a 480,614-square-foot industrial property in the northern Dallas suburb of McKinney. The property at 801 Harry McKillop Blvd. is part of McKinney National Business Park, a five-building, 945,000-square-foot development that was built in 2022 on a speculative basis on a 64-acre site adjacent to McKinney National Airport. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Jack Fraker and Caroline Wilson of Newmark represented the seller, Transwestern Development Co., in the transaction. CBRE Investment Management purchased the property for an undisclosed price.
LOUISVILLE, KY. — Dermody Properties plans to develop LogistiCenter at Airport West, a 342,720-square-foot industrial facility situated on 21 acres in Louisville. Kevin Grove and Alex Grove of CBRE represented the developer in the land acquisition. The site is located west of Louisville Muhammad Ali International Airport in the city’s Southside/Airport submarket. The project will feature build-to-suit office space, 36-foot clear heights, 40 dock doors, two drive-in doors, 190 parking stalls, 70 trailer spaces, ESFR fire protection and LED lighting. The construction timeline for the project was not disclosed.
HOUSTON — GCP Paper USA, a locally based manufacturer and distributor, has signed a 99,926-square-foot industrial lease in North Houston. According to LoopNet Inc., the property at 971 N. Sam Houston Parkway E is known as Beltway North Commerce Center, totals 251,220 square feet and features 32-foot clear heights, 130-foot truck court depths, three drive-in ramps and 4,022 square feet of office space. Jeremy Lumbreras and Woody Hillyer of Stream Realty Partners represented the landlord, High Street Logistics Properties, in the lease negotiations. Joseph Smith and Jordan Enger of CBRE represented the tenant.
BAYTOWN, TEXAS — Atlanta-based investment firm MDH Partners has acquired a 996,482-square-foot distribution center near Port Houston that is fully leased to Swedish furniture retailer IKEA. Completed in 2017, Cedar Port IKEA is a two-building complex located within Cedar Port Industrial Park, a 15,000-acre, master-planned development in Baytown. Building features include 32-foot clear heights, 190-foot truck court depths, ESFR sprinkler systems and ample car and trailer parking. Trent Agnew, Charlie Strauss and Lance Young of JLL represented the undisclosed seller in the transaction.
HOUSTON — North Texas-based developer Jackson-Shaw is underway on construction of greensPORT Logistics Park, a 535,478-square-foot industrial project in East Houston. The 38.2-acre site is located near the junction of I-10 and Haden Road, and the development will consist of two buildings spanning 149,477 and 386,001 square feet. Jackson-Shaw is developing greensPORT Logistics Park in partnership with Greystar-Thackeray. Burton Construction is the general contractor for the project, and Goree Architects is handling design. Kimley-Horn is the civil engineer, and Comerica Bank is financing the project. Cushman & Wakefield has been tapped as the leasing agent. The development team broke ground on the project in late September and is targeting a third-quarter 2025 delivery.
MESQUITE, TEXAS — Newmark has brokered the sale of Alcott Logistics Station, a 310,900-square-foot industrial property located in the eastern Dallas suburb of Mesquite. The property was developed between 2022 and 2023 as a build-to-suit corporate headquarters for automotive parts manufacturer Vehicle Accessories Inc. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Caroline Wilson of Newmark represented the seller, North Texas-based developer Jackson-Shaw, in the transaction. The buyer was New York-based Sterling Investors.
TUCSON, ARIZ. — Atlanta-based TPA Group has broken ground on Butterfield Logistics Center, an industrial project in Tucson. Situated within Butterfield Business Center, the logistics center is slated for completion by third-quarter 2025. The 194,879-square-foot building will feature 32-foot clear heights, ESFR fire-sprinkler systems, 50-foot column spacing and 135-foot truck courts. The Class A facility will offer lease opportunities from 32,232 square feet and larger. The project team includes Atlas Collaborative Architects and FCL Builders.