Monday, November 25, 2024
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Industrial

Urban-District-290-Houston
AcquisitionsIndustrialTexas

Urban Logistics Realty, Crow Holdings Sell 238,200 SF Industrial Park in Northwest Houston

by Taylor Williams

HOUSTON — A joint venture between Dallas-based Urban Logistics Realty and a fund backed by Crow Holdings has sold Urban District 290, a 238,200-square-foot industrial park in Houston. Located near the corner of State Highway 290 and Bingle Road on the city’s northwest side, the property consists of a 64,800-square-foot building and a 173,400-square-foot building with clear heights of 32 feet, speculative office space and ESFR sprinkler systems. Construction began in September 2022. Nathan Wynne and Jason Dillee with CBRE brokered the sale. The buyer was not disclosed.

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AcquisitionsIndustrialTexas

Colliers Brokers Sale of 16,141 SF Industrial Flex Building in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Colliers has brokered the sale of a 16,141-square-foot industrial flex building in the northeastern Houston suburb of Tomball. The building at 2121 Persimmon St., which is located on 2.5 acres within Tomball Business & Technology Park, was completed in 2023, according to LoopNet Inc. Tom Condon Jr. of Colliers represented the seller, KTB Properties LLC, in the transaction. Al Gosen of Texas United Realty represented the buyer, an entity doing business as W E Mauney LLC.

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AcquisitionsDevelopmentGeorgiaIndustrialSoutheast

Dermody Properties Acquires 61,000 SF Logistics Facility Near Atlanta, Plans 93,320 SF Addition

by John Nelson

SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.

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AcquisitionsIllinoisIndustrialMidwest

SVN Core 3 Arranges Sale of 11,060 SF Industrial Building in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — SVN Core 3 has arranged the sale of an 11,060-square-foot industrial building located at 4 Currency Drive in Bloomington for $1.2 million. The property features overhead doors, office spaces, three restrooms, a retail front, warehouse in the back and ample parking on three sides. The transaction involved local buyers and sellers. Jill Spratt of SVN Core 3 represented the seller, while Patrick and Dan Kniery of Re/Max Rising represented the buyer.

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Dedeaux-TRCC-Tejon-Ranch-CA
CaliforniaDevelopmentIndustrialWestern

Dedeaux Properties to Develop 510,500 SF Warehouse at TRCC in Tejon Ranch, California

by Amy Works

TEJON RANCH, CALIF. — Tejon Ranch Co. has signed a joint venture agreement with Dedeaux Properties to develop and lease a 510,500-square-foot, industrial warehouse at Tejon Ranch Commerce Center (TRCC) in Tejon Ranch. TRCC is a mixed-use master-planned community that operates as a logistics hub serving all of California and the western United States. The facility will be located on 25 acres just east of Interstate 5. The Class A warehouse will offer Class A divisible cross-dock space with 185-foot truck courts and 36-foot clear heights. Mac Hewett, Mike McCrary and Brent Weirick of JLL will serve as listing agents for the industrial facility. As master developer of TRCC, Tejon has realized 8.2 million square feet of industrial development with an additional 11.1 million square feet of entitled property remaining. TRCC also has 674,000 square feet of existing commercial development, including the Outlets at Tejon. Tejon Ranch Co.’s first residential offering, the 228-unit first phase of Terra Vista at Tejon, a 495-unit apartment community, will open in spring 2025.

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11193-Emerald-St-Boise-ID
IdahoIndustrialMarket ReportsWesternWestern Market Reports

Boise’s Industrial Market Boasts Strong Fundamentals, but Challenges Continue

by Jeff Shaw

— By Devin Pierce, industrial specialist, TOK Commercial in Boise — In recent years, Boise’s industrial market has become a focal point for investors and developers drawn to the region’s economic growth and location. With demand for industrial space on the rise, the market has experienced an unprecedented wave of new construction aimed at meeting the needs of both local businesses and national tenants looking to expand their operations.  This surge in development activity reflects Boise’s growing prominence as a logistics and manufacturing hub. However, as new projects come online, the market is also grappling with the challenges of balancing supply and demand, particularly in the wake of fluctuating economic conditions. Speculative Construction Drives Vacancy Surge Boise’s industrial market saw a considerable number of projects completed during the first half of 2024, with more than 2.2 million square feet of new construction delivered. Speculative construction accounted for more than 86 percent of these projects, totaling nearly 2 million square feet and marking a record high for mid-year.  Top spec projects included nearly 1 million square feet at Red River Logistics Center; three new buildings (totaling 292,000 square feet) at Park84 in Nampa; and 396,000 square feet at Sky Ranch Logistics. This …

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Central-Texas-Logistics-Center-San-Marcos
AcquisitionsIndustrialTexas

Triten Real Estate Partners Buys 485,885 SF Industrial Property in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased Central Texas Logistics Center, a 485,885-square-foot industrial property in San Marcos, roughly midway between Austin and San Antonio. The property comprises seven buildings on a 46-acre site that feature a mix of cross-dock, front- and rear-load configurations and an average suite size of 27,595 square feet, as well as office and showroom space. Central Texas Logistics Center was fully leased to 15 tenants at the time of sale. Dom Espinosa, Joshua Villarreal, Stephen Bailey, Dustin Volz and Zach Riebe of Newmark represented Triten and the undisclosed seller in the transaction.

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AcquisitionsIndustrialTexas

Younger Partners Arranges Sale of Four-Acre Industrial Development Site in East Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a four-acre industrial development site on the east side of Fort Worth. The site at 2525 Handley Ederville Road offers proximity to both I-820 and State Highway 121 and formerly housed a 150,000-square-foot Advanced Foam Recycling facility. That property was destroyed in a fire in 2021, and the facility was subsequently razed. Michael Ytem of Younger Partners represented the seller, BridgeCap Partners, in the deal. Forrest Cook of Stream Realty Partners represented the buyer, an entity doing business as G-Catch LLC. The sales price and future plans for the site were not disclosed.

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IndustrialLoansNortheastPennsylvania

G.S. Wilcox Arranges $19.1M Loan for Refinancing of Lehigh Valley Warehouses

by Taylor Williams

HAZLE TOWNSHIP, PA. — New Jersey-based intermediary G.S. Wilcox  Co. has arranged a $19.1 million loan for the refinancing of two warehouses in Hazle Township, located in the Lehigh Valley region. The buildings are located within Humboldt Industrial Park and total 220,500 square feet. Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the seven-year, interest-only loan on behalf of the borrower, a partnership between The Lakhani Family Office and Saxum Real Estate. The direct lender was not disclosed.

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IndustrialLeasing ActivityMassachusettsNortheast

JLL Negotiates 32,493 SF Industrial Lease in Wilmington, Massachusetts

by Taylor Williams

WILMINGTON, MASS. — JLL has negotiated a 32,493-square-foot industrial lease in the northern Boston suburb of Wilmington. The user, an unnamed snack food company, is taking space at Upton Crossing, a 215,000-square-foot campus. Joe Fabiano, James Lipscomb, Jordan Yarboro and Brian Tisbert of JLL represented the landlord, The Davis Cos., in the lease negotiations. Bart Anderson and Juliana Fiore of CBRE represented the tenant.

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