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Industrial

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IndustrialLoansTexas

Newmark Arranges Construction Debt for 173,680 SF Industrial Project in Irving

by Taylor Williams

IRVING, TEXAS — Newmark has arranged an undisclosed amount of construction debt for TriStar Business Park, a 173,680-square-foot industrial project in Irving. The development will comprise two buildings with 32-foot clear heights, 100-plus trailer parking stalls, eight-plus dock-high doors, 130- to 140.5-foot truck court depths and ESFR sprinkler systems. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and William Hairston of Newmark arranged the debt through an undisclosed regional bank on behalf of the developer, a joint venture between Hopewell Development and MBK Industrial Properties. Newmark also structured the joint venture between the two companies last fall. Colliers is the leasing agent for TriStar Business Park.

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DevelopmentIndustrialTexas

Gillett Commercial Nears Completion of 71,920 SF Spec Industrial Flex Project in Metro Dallas

by Taylor Williams

ALLEN, TEXAS — Gillett Commercial, a developer with offices in Texas and California, is nearing completion of a 71,920-square-foot industrial flex project in the northeastern Dallas suburb of Allen. Allen Exchange consists of three buildings that were developed on a speculative basis, the largest of which spans 50,864 square feet, sits on 3.6 acres and includes office and showroom space. The other two buildings total 10,500 square feet. Raymond Construction is the general contractor for the project, which is slated for an April delivery. Citadel Partners is marketing the development for sale and/or lease.

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IndustrialLeasing ActivityTexas

Avensis Energy Signs 18,000 SF Industrial Lease in Pleasanton, Texas

by Taylor Williams

PLEASANTON, TEXAS — Avensis Energy has signed an 18,000-square-foot industrial lease in Pleasanton, about 40 miles south of San Antonio. According to LoopNet Inc., the building at 206 Oil Road was built on 4.9 acres in 2014 and totals 27,000 square feet. Carlos Marquez and Brian Heines of Partner Real Estate represented the landlord, Four Seasons Business Park II Ltd., in the lease negotiations. Sonit Seth with The Seth Brothers Team represented the tenant.

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AcquisitionsIndustrialTexas

Oxford Partners Negotiates Sale of 16,000 SF Industrial Building in Cleveland, Texas

by Taylor Williams

CLEVELAND, TEXAS — Locally based brokerage firm Oxford Partners has negotiated the sale of a 16,000-square-foot industrial building located at 2024 County Road 388 in Cleveland, about 45 miles northeast of Houston. Matt Rogers of Oxford Partners represented the seller, BE Plastics Inc. in the transaction. Tim Larson of KW Commercial represented the undisclosed buyer.

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DevelopmentIndustrialLife SciencesMassachusettsNortheast

Partnership Delivers 168,000 SF Life Sciences, Manufacturing Project in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — A partnership between Redgate, Optimum Asset Management and AEW Capital Management has delivered Riverwalk Labs, a 168,000-square-foot life sciences and manufacturing project in Bedford, about 20 miles northwest of Boston. The developers converted a former office building into a facility with 20,000-square-foot lab and office suites, as well as four separate tenant lobbies and multiple loading docks. Ci Design served as the project architect, and J. Calnan & Associates served as the general contractor.

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AcquisitionsIndustrialMidwestOfficeOhio

Douglas Capital Partners Acquires 385,000 SF Office, Industrial Portfolio in Metro Columbus for $25M

by Kristin Harlow

GROVE CITY AND DUBLIN, OHIO — Michigan-based real estate investment firm Douglas Capital Partners has acquired three Columbus-area properties from American National Insurance Co. and Brookfield for $25 million. The three-property portfolio totals 385,000 square feet and is comprised of SouthPark XX, a Class A industrial asset in Grove City, and two office buildings in Dublin. The office assets include the Emerald Professional Building and Upper Metro Place. The acquisitions mark the first investments outside of Michigan for Douglas Capital Partners.

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AcquisitionsIndustrialMidwestWisconsin

Greywolf Arranges $3.7M Sale of Industrial Building in New Holstein, Wisconsin

by Kristin Harlow

NEW HOLSTEIN, WIS. — Greywolf Brokerage LLC, a division of Greywolf Partners Inc., has arranged the $3.7 million sale of a 122,500-square-foot industrial building in New Holstein, about 43 miles south of Green Bay. The property sits on six acres at 2221 Calumet Drive. The fully leased building features 10 loading docks, five drive-in doors and a clear height of 20 feet. Buyer and seller information was not provided.

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IndustrialLoansNevadaSelf-StorageWestern

Gantry Secures $7M Loan for Self-Storage Facility in Las Vegas

by Amy Works

LAS VEGAS — Gantry has secured a $7 million permanent loan to retire construction financing for Epic Storage @ Ann Road, a self-storage facility in Las Vegas. Located at 10490 Hammer Lane, the property features 681 self-storage units and 46 RV parking spaces. The Class A property was delivered in third-quarter 2023. Chris Funai of Gantry’s Las Vegas office represented the borrower, a local real estate developer. The 10-year loan was procured from one of Gantry’s insurance company correspondents at a fixed rate and 30-year amortization period.

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AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 4,800 SF Industrial Building in Redwood City, California

by Amy Works

REDWOOD CITY, CALIF. — Marcus & Millichap has arranged the sale of an industrial property located at 2549 Middlefield Road in Redwood City, located in the southern Bay Area. An individual sold the asset to an undisclosed buyer for $1.7 million. Built in 1975, the 4,800-square-foot building features two grade-level roll-up doors, office space and two bathrooms. The property is currently undergoing significant street improvements, which will add to traffic counts. Carlos Azucena and Joshua Johnson of Marcus & Millichap represented the seller in the deal.

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DevelopmentFloridaIndustrialSoutheast

Stonemont Delivers 1.3 MSF Speculative Industrial Park in Fort Pierce, Florida

by John Nelson

FORT PIERCE, FLA. — Stonemont Financial Group has completed South Florida Logistics Center 95, a 1.3 million-square-foot industrial park in Fort Pierce, a city in Southeast Florida’s St. Lucie County. The complex is located at the intersection of South Kings Highway and Orange Avenue, near I-95 and the Florida Turnpike. At 1.1 million square feet, Building 1 at the complex is the largest speculative building in Southeast Florida, according to Stonemont, while Building 2 spans 245,000 square feet. The design-build team includes construction firm Evans General Contractors, architect Ware Malcomb and civil engineer Engineering Design & Construction Inc. Sky Groden of JLL’s Fort Lauderdale office is handling leasing at South Florida Logistics Center 95, both buildings of which are available for lease.

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