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Industrial

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AcquisitionsCaliforniaIndustrialWestern

Graham Street Realty Sells 57,174 SF Flex Industrial Property in Petaluma, California

by Amy Works

PETALUMA, CALIF. — Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has completed the disposition of The Redwoods, a flex industrial asset in Petaluma. Terms of the transaction were not released. Built in 1988, The Redwoods features nine units totaling 57,174 square feet. At the time of sale, the property was 94 percent occupied. Surrounded by mature Redwood trees, the asset features 204 parking spaces, five grade-level roll-up doors and clear heights ranging from 17.5 feet to 25 feet. Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed The Redwoods during GSR’s ownership.

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AcquisitionsArizonaIndustrialWestern

Wane Investments Buys 21,518 SF Industrial Building in Tucson, Arizona for $2.1M

by Amy Works

TUCSON, ARIZ. — Wane Investments LLC has purchased an industrial building located at 990 S. Cherry Ave. in Tucson from Gould Family Properties VIII for $2.1 million. Paul Hooker of Cushman & Wakefield | PICOR represented the seller, while Christopher McClurg and Michael Giuliano of Lee & Associates represented the buyer in the transaction.

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Siemens-Fort-Worth
DevelopmentIndustrialTexas

Siemens Completes $190M Manufacturing Plant in South Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Siemens has completed a $190 million manufacturing plant in Fort Worth. The 500,000-square-foot facility is located at 7200 Harris Legacy Drive on the city’s south side and will support the data center industry via production of electrical equipment such as low-voltage switchboards. Siemens has already hired about 480 people to staff the facility and expects to employ as many as 800 individuals at the site by 2026. According to Fort Worth Report, the project was executed as part of the German conglomerate’s pledge to invest $10 billion in the U.S. manufacturing sector.

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AcquisitionsIndustrialMidwestWisconsin

Zilber Property Group Buys Four Industrial Buildings Totaling 385,000 SF in Southeast Wisconsin

by Kristin Harlow

NEW BERLIN AND FRANKLIN, WIS. — Zilber Property Group (ZPG) has acquired a four-building industrial portfolio totaling 385,000 square feet in Southeast Wisconsin for an undisclosed price. Located in New Berlin and Franklin, the properties range in size from 80,000 to 125,000 square feet. The buildings are fully leased to eight tenants engaged in manufacturing, warehousing, distribution and logistics. Each property is situated in an established business park with essential infrastructure and access to major transportation systems.

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IllinoisIndustrialLeasing ActivityMidwest

NewAge Products Signs 168,741 SF Industrial Lease in Monee, Illinois

by Kristin Harlow

MONEE, ILL. — NewAge Products has signed a 168,741-square-foot industrial lease at 25340 S. Ridgeland Ave. in Monee. The lease brings the 621,246-square-foot facility to full occupancy, with NewAge Products joining Reynolds Consumer Products. Seefried Industrial Properties owns the building, which is situated within close proximity to I-57, I-80 and I-294. Additionally, the site is within 20 miles of three intermodal yards — the BNSF Intermodal Yard in Elwood, the Union Pacific Global IV Intermodal Terminal in Joliet and the Canadian National Intermodal Terminal in Harvey. Jason West of Cushman & Wakefield represented NewAge Products, while Sean Henrick and Ryan Klink of Cushman & Wakefield represented Seefried.

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Data CentersDevelopmentIndustrialTexas

Aligned Data Centers to Develop 27-Acre Campus in Mansfield, Texas

by Taylor Williams

MANSFIELD, TEXAS — Locally based owner-operator Aligned Data Centers will develop a 27-acre campus in Mansfield, a southeastern suburb of Fort Worth. Known as Aligned DFW-03, the data center campus will have an onsite substation and will be largely marketed toward users in the AI, cloud and enterprise applications. The facility will also feature proprietary liquid cooling technology and will be able to accommodate user density requirements upwards of 350 kilowatts per rack. Initial capacity is expected to be available in the fourth quarter.

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AcquisitionsIndustrialTexas

CanTex Capital Buys 230,292 SF Industrial Property in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based investment firm CanTex Capital has purchased a 230,292-square-foot industrial property in Fort Worth. The property at 7901 South Freeway is located on the city’s south side and functions as a manufacturing facility. According to LoopNet Inc., the single-tenant facility sits on 20 acres and features roughly 26-foot clear heights, 19 dock-high loading doors and six grade-level drive-in doors. Todd Hubbard of NAI Robert Lynn represented CanTex, which plans to make capital improvements to the property, in the transaction. The seller and sales price were not disclosed.

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IndustrialMarket ReportsMarylandSoutheastSoutheast Market Reports

Key Bridge Collapse Puts Infrastructure, Baltimore Industrial Market’s Fundamentals in Focus

by John Nelson

A major attraction within the Baltimore industrial real estate market has historically been the Port of Baltimore, as it is the most inland port on the East Coast, ranks in the top 20 nationally for tonnage and top 10 for dry bulk and attracts users and investors for its impressive capabilities. Closing on the end of first-quarter 2025,  here are a few noteworthy project and market updates: March 26, 2024: The Key Bridge collapsed due to a physical collision from the container ship Dali. The bridge collapse was a tragic event with six lives lost and shipping (both in and out) being blocked for nearly three months as crews cleared the debris. $2B Key Bridge rebuild: Maryland Gov. Wes Moore unveiled the new design for rebuilding the bridge in February. The bridge is anticipated to deliver by fall 2028 and comes with enhanced capabilities, such as a 45-foot height increase and a 300-foot width increase for the shipping channel when compared with the previous design. Kiewit Infrastructure estimates the overall project will cost $2 billion. Howard Street Tunnel: As part of nearly $500 million directed toward local infrastructure projects, CSX recently kicked off the long-awaited Howard Street Tunnel project being …

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Data CentersDevelopmentIndustrialTop StoriesUtahWestern

J.P. Morgan, Starwood Provide $2B in Financing for Data Center Project Near Salt Lake City

by Taylor Williams

WEST JORDAN, UTAH — J.P. Morgan and Starwood Property Trust have provided $2 billion in financing for a data center project in West Jordan, located just south of Salt Lake City. The borrower, a partnership between Los Angeles-based investment firm CIM Group and regional operator Novva Data Centers, will use the proceeds to complete construction of the second and third phases of the latter entity’s 100-acre flagship Salt Lake City campus. At full build-out, the campus will span approximately 1 million square feet and have a total power capacity of 175 megawatts (MW). According to The Wall Street Journal, that is enough electricity to power about 175,000 U.S. homes of average size. Development of the campus began several years ago, with the first phase coming on line in 2023, the same year in which ownership secured a full-campus lease with an undisclosed global tech company. Construction of Phase II of the project began in December 2023 and will feature a 318,000-square-foot data center building that will have the capacity to produce 72 MW of power. Construction of Phase III commenced in January 2024 and will also feature a 318,000-square-foot data center with a 72-MW capacity. Completion of both facilities is …

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DevelopmentIndustrialTexas

Core5 Industrial Partners Completes 1 MSF Project in Schertz, Texas

by Taylor Williams

SCHERTZ, TEXAS — Atlanta-based developer Core5 Industrial Partners has completed an approximately 1 million-square-foot project in Schertz, a northeastern suburb of San Antonio. Core5 Logistics Center at Interstate 10 is located at the convergence of Loop 1640 and I-10 and adjacent to the future site of an H-E-B grocery store. The property consists of two buildings totaling 536,824 and 468,280 square feet. Building A features a cross-dock configuration, 110 dock-high doors, four drive-in doors, 36-foot clear heights and 134 trailer storage spaces. Building B has a rear-load configuration and offers 72 dock-high doors, two drive-in doors, 36-foot clear heights and 84 trailer storage spaces. Cushman & Wakefield is marketing the buildings, which represent Phase I of a larger development, for lease.

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