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Industrial

Pinnacle-Peak-Commerce-Center-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Top 10 Properties Buys Pinnacle Peak Commerce Center in Phoenix for $21.8M

by Amy Works

PHOENIX — Top 10 Properties has acquired Pinnacle Peak Commerce Center, a freestanding, Class A light industrial building in Phoenix’s Deer Valley submarket. An undisclosed seller divested of the asset for $21.8 million. With immediate access to Interstate 17, Pinnacle Peak Commerce Center features 93,725 square feet of industrial space. At the time of sale, the property was 100 percent leased to three tenants. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, in partnership with Tracy Cartledge and Robert Buckley of Cushman & Wakefield, brokered the transaction for the buyer and seller. Trevor McKendry and Chris Rogers of DAUM Commercial provided lease advisory.

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Level-Crossing-Phase-3-Surprise-AZ
ArizonaDevelopmentIndustrialWestern

Hardy World, Silver Creek Development Break Ground on 150,615 SF Industrial Project in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — Hardy World LLC and Silver Creek Development have broken ground on the Phase III at the Level Crossing master-planned industrial development site in Surprise. Located at 13550 N. Dyasrt Road, the third and final phase will include a 150,615-square-foot speculative warehouse facility. Geared toward logistics and distribution tenants, the warehouse will have the potential to be divided into three tenant spaces for maximum flexibility. ARCO Construction Co. is providing design-build services for the project. The overall Level Crossing plan is slated for completion in early 2025.

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100-Frontage-Road-Newark
IndustrialLoansNew JerseyNortheast

JLL Arranges $81M in Financing for Newark Industrial Building

by Taylor Williams

NEWARK, N.J. — JLL has arranged $81 million in permanent financing for a 224,900-square-foot, newly constructed industrial building located in Newark. The 12.2-acre site at 100 Frontage Road is adjacent to Newark Liberty International Airport, and the building is fully leased to United Airlines. Building features include a clear height of 40 feet, 41 dock-high doors and parking for 130 cars and 38 trailers. Jim Cadranell, Greg Nalbandian and Michael Lachs of JLL arranged the five-year, interest-only loan through an undisclosed life insurance company. The borrower was Seagis Property Group.

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Amazon-Web-Services-data-center_Ohio
Data CentersDevelopmentIndianaIndustrialMidwestTop Stories

Amazon Web Services to Develop $11B Data Center Campus in Northern Indiana

by Taylor Williams

NEW CARLISLE, IND. — Amazon Web Services (AWS), the web hosting division of Amazon (NASDAQ: AMZN) has announced plans for an $11 billion data center campus in New Carlisle, a town of roughly 1,600 people located near the Michigan-Indiana border. The exact location of the site was not disclosed, but the campus will be situated within the Indiana Enterprise Center, a master-planned development in St. Joseph County that spans nearly 3,000 acres. The Indiana Economic Development Corp. has committed to several incentives for the project. These incentives include up to $18.3 million in employment-based tax credits, up to $5 million in training grants, up to $55 million in Hoosier Business Investment tax credits and up to $20 million in redevelopment tax credits. These incentives are performance-based, meaning the company is eligible to claim state benefits once investments are made. In addition to its community investment and engagement activities, AWS will also contribute up to $7 million to support road infrastructure improvements in and around the site. Details on the development timeline were not immediately available. Amazon claims the project will create at least 1,000 new jobs. “Amazon has long been an important economic partner in Indiana, and we are excited …

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AcquisitionsIndustrialTexas

GID Acquires 299,000 SF Industrial Property in Northwest Houston

by Taylor Williams

HOUSTON — Alternative investment management firm GID has acquired Beltway Northwest, a 299,000-square-foot industrial property in Houston. Built in 2007, the five-building development features 17- to 24-foot clear heights, 62 dock high doors and 18 drive-in doors. Beltway Northwest was fully leased to 17 tenants at the time of sale. The seller and sales price were not disclosed. Transwestern has been appointed as the leasing agent.

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DevelopmentIndustrialTexas

Glazer’s Beer & Beverage Opens 250,000 SF Distribution Center in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — Glazer’s Beer & Beverage has opened a 250,000-square-foot distribution center in the Rio Grande Valley city of Weslaco. The wholesale alcoholic beverage distributor is the anchor tenant of Mid Valley International Industrial Park, a 122-acre master-planned development by the Weslaco Economic Development Corp. The project is ultimately expected to add about 200 new jobs to the local economy at full operational capacity.

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DevelopmentIndustrialMidwestMissouri

Contegra Construction Completes 220,000 SF Production Facility for AZZ Precoat Metals in Missouri

by Kristin Harlow

WASHINGTON, MO. — Contegra Construction Co. has completed a 220,000-square-foot production facility for AZZ Precoat Metals in Washington, about 50 miles west of St. Louis. The tenant is currently installing equipment and expects to begin production at the facility in 2025. The property at 901 Waterman Drive is the first within the 115-acre Oldenburg Industrial Park. The new plant will augment AZZ’s current production capabilities for customized steel, aluminum and galvanized metal coils used in containers, buildings, housing, automobiles, product storage, appliances and HVAC. The facility features a 212,000-square-foot production zone and 8,000 square feet of office space. The production zone is served by three 30-ton overhead cranes and advanced equipment for preparing, coating, slitting and packaging aluminum coils. The property features eight loading dock bays and six drive-through bays. Joining Contegra on the project team were Vision Electric (electrical), Jarrell Mechanical Contractors (HVAC), O.J. Laughlin Plumbing Co. Inc. (plumbing) and Musselman & Hali Contractors (concrete). Contegra served as the designer and builder.

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AcquisitionsIndustrialLeasing ActivitySoutheastTennessee

Newmark Arranges Sale-Leaseback of 920,000 SF Industrial Portfolio in Crossville, Tennessee

by John Nelson

CROSSVILLE, TENN. — Newmark has arranged the sale-leaseback of a five-building industrial portfolio in Crossville, about 70 miles west of Knoxville via I-40. The portfolio spans 920,000 square feet across two property sites: four buildings at 297-349 Sweeney Drive and a 570,745-square-foot facility at 301 Porcelain Drive. The properties are situated about 2.5 miles apart and both have direct access to I-40. Andrew Sandquist, J.C. Asensio and Briggs Goldberg of Newmark represented the seller and tenant, flooring manufacturer AHF Products, in the transaction. The tenant will continue to occupy the portfolio on a long-term master lease. TPG Angelo Gordon purchased the portfolio for an undisclosed price. Jordan Roeschlaub and Christopher Kramer of Newmark arranged an undisclosed amount of acquisition financing through Citi Group on behalf of TPG Angelo Gordon.

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AcquisitionsFloridaIndustrialSoutheast

Eisenberg Group Acquires Industrial Facility in Orlando for $9.8M

by John Nelson

CORAL SPRINGS, FLA. — CF Warehouse LLC, an affiliate of The Eisenberg Group based in Coral Springs, Fla., has acquired a 73,000-square-foot industrial building located at 6072 Cinderlane Parkway in Orlando. Derek Riggelman of Lee & Associates represented the undisclosed seller in the $9.8 million transaction. The buyer handled the deal in-house. According to LoopNet Inc., the facility was built in 1991.

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AcquisitionsAlabamaIndustrialLeasing ActivitySoutheast

MAG Capital Purchases 105,986 SF Manufacturing Facility in Northern Alabama in Sale-Leaseback Deal

by John Nelson

HARTSELLE, ALA. — MAG Capital Partners has purchased a 105,986-square-foot manufacturing facility located at 1101 Young Drive SE in Hartselle, a city in northern Alabama. The Dallas-based investor purchased the single-story asset from the tenant, Excel Interior Door, a manufacturer of interior wooden doors. Daniel Macks and Phil DiGennaro of Stream Realty Partners represented the seller in the sale-leaseback transaction, the terms of which were not released. Situated on a 10-acre site, the facility features 20-foot clear heights, four loading docks and 22 grade-level doors.

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