HOUSTON — Partners Real Estate has brokered the sale of a 35,622-square-foot cold storage building located at 12634 East Freeway in Houston. The property, which was originally built in 1960 and expanded in the early 2000s, is located east of the downtown area and features 28-foot clear heights. Wyatt Huff and Hunter Stockard of Partners represented the seller, Mims Investment Inc., in the transaction. The buyer and sales price were not disclosed.
CYPRESS, TEXAS — Lone Star Downhole Products has signed a 10,000-square-foot industrial lease in the northwestern Houston metro of Cypress. The manufacturer of energy equipment parts is taking the entire building at 19615 Juergen Road, which according to LoopNet Inc. is under construction and will feature 20-foot clear heights. Georges Montes of Cypressbrook Co. represented the tenant in the lease negotiations. Nick Bergmann and Cape Bell of CBRE represented the landlord, Mesquite Realty & Investment Group.
ORLANDO, FLA. — Futura and Linkvest Capital have completed the construction of Nona Cove Self Storage, a 130,000-square-foot development featuring self-storage and retail space at 14800 Narcoossee Road in the Lake Nona neighborhood of Orlando. The facility — which comprises 122,000 square feet of self-storage space and 8,000 square feet of retail space — is part of the first phase of Futura at Nona Cove, a 17-acre mixed-use project anchored by a new 260-unit apartment community. Managed by Extra Space, Nona Cove Self Storage includes 1,046-square-foot bays with a gated drive-thru and is currently 57 percent leased.
WILMINGTON, MASS. — Boston-based Camber Development has broken ground on a 237,800-square-foot warehouse at 800 Salem St. in the northern Boston suburb of Wilmington. Designed by Dacon Corp., the building will feature a clear height of 36 feet, 47 dock positions and parking for 332 cars and 33 trailers. Camber is developing the project in partnership between Connecticut-based Wheelock Street Capital. JLL arranged construction financing for the project, which is expected to be complete before the end of the year.
EDEN, N.C. — Nestlé Purina PetCare has opened its newest pet food factory in Eden, about 36 miles north of Greensboro, N.C. Situated on 1,350 acres, the $450 million development is the first Nestlé factory in the state and features a vertical dryer, automated warehousing, cold storage and an experience center that showcases modern manufacturing practices for new and prospective workers. The new 1.3-million-square-foot Purina facility involved the repurposing of 80 percent of the former MillerCoors Brewing Plant. North Carolina Gov. Roy Cooper says that the remainder of the brewery’s existing structure could be retrofitted for another manufacturer. Nestlé has hired 300 new positions at the Purina factory with more to come in the near future. Between 2020 and 2025, Nestlé is on track to invest $2 billion in the Eden property and capital expansion projects to enhance its manufacturing footprint. A 24th factory is currently under construction in Williamsburg Township, Ohio, and is expected to be fully operational in the next 12 months.
LAKELAND, FLA. — A joint venture between BBX Logistics Properties and FRP Development Corp. plans to develop BBX Park at Lakeland, a 213,500-square-foot logistics park in Lakeland. The 22.5-acre project will be located at 8255 State Road 33 N, which is directly north of I-4 and within 50 miles of both Tampa and Orlando. BBX and FRP plan to break ground on the park in the fourth quarter, with delivery and occupancy slated for 2025. The joint venture has tapped Kris Courier of CBRE’s Tampa office to market BBX Park at Lakeland for lease.
MONTGOMERY, TEXAS — Versal, a self-storage brokerage firm with offices in Austin and Los Angeles, has negotiated the sale of a 64-unit facility in Montgomery, about 50 miles north of Houston. The facility, known as Spartan Storage, spans 19,998 net rentable square feet. Versal represented the buyer, Houston-based Lakewood Realty Investments, in the transaction. Ryan Dooley of CRD Realty represented the seller, a Texas-based limited liability company.
GOODYEAR, ARIZ. — Phoenix-based Stevens-Leinweber Construction (SLC), on behalf of Brookfield Properties, has started construction of Camelback 303 Logistics Center in the Phoenix suburb of Goodyear. The two-building industrial development will offer 616,100 square feet of Class A industrial space, Class A amenities, and trailer and outdoor storage. Situated at 16395 and 16565 W. Camelback Road, Camelback 303 Logistics will include a 303,500-square-foot Building A and 312,000-square-foot Building B. Each building will feature 36-foot clear heights, LED lighting, 79 dock-high and four drive-in doors and 3,000 amps of power. Additionally, Buildings A and B will also offer 185-foot to 370-foot secured concrete truck courts, parking for 309 to 329 cars and 212 to 214 trailers, and electric vehicle charging stations. Completion is slated for fourth-quarter 2024. The property is located within PV303, a 1,600-acre, master-planned industrial park by Merit Partners. SLC is serving as general contractor and Butler Design Group is serving as project architect. Pat Feeney, Danny Calihan and Tyler Vowels of CBRE are handling leasing for the project.
MESA, ARIZ. — Indicap, in partnership with AECOM-Canyon Partners, has completed Phase I of the Eastmark Center of Industry in Mesa. The newly opened buildings offer 978,837 rentable square feet of Class A industrial space within a 65-acre industrial park in Mesa’s Gateway Airport submarket. The first phase includes five mid-bay and cross-dock buildings, ranging from 83,347 square feet to 426,569 square feet, with 30-foot to 36-foot clear heights and a parking ratio of 1.28 per 1,000 rentable square feet. Indicap acquired the project site in April 2022 for $48 million, marking the company’s entry into the Phoenix metro. The land purchase included 53 acres for a second phase of development. The project team includes Layton Construction, Kimley-Horn, Deustch Architecture and JLL.
WESTMINSTER, CALIF. — A real estate fund managed by Ares Management has acquired a freestanding industrial distribution building in the Orange County city of Westminster from an undisclosed seller. Terms of the transaction were not released. Situated on 11.8 acres at 7400 Hazard Ave., the 258,506-square-foot building features 22- to 24-foot clear heights, ample dock-high and grade-level loading, abundant auto parking and 40 off-dock trailer parking stalls. At the time of sale, the property was 72.6 percent leased. Jeff Chiate, Jeffrey Cole, Rick Ellison and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group – West represented the seller in the deal. Randy Ellison and Kyle McGillen of Cushman & Wakefield provided leasing advisory and were retained by the buyer to continue leading project leasing for the asset. Additionally, Rob Rubano, Brian Share, Max Schafer and Becca Tse of Cushman & Wakefield Equity, Debt & Structured Finance secured acquisition financing for the buyer.