HOUSTON — PinPoint Commercial, a Houston-based development partnership, is developing Hobby Business Center, a 350-acre logistics and industrial park in Houston. The multi-modal distribution complex will handle rail and truck cargo. Southeastern Freight Lines and FedEx Ground have committed to the park, which is scheduled to complete the infrastructure by first quarter 2008. Build-to-suit and design build opportunities will be available from 20,000 square feet to 1 million square feet, but in general the buildings will feature tilt-wall construction with extended clear heights and truck aprons. Hobby Business Center will be located between Interstate 45, Beltway 8, Interstate 610, Highway 288 and Telephone Road. Amegy Bank is providing financing for the project.
Industrial
DALLAS — Stamford, Conn.-based GE Real Estate has provided $49.7 million in financing to Addison, Texas-based Holt Lunsford Commercial for the acquisition of a 21-building industrial portfolio in Dallas. Located across four submarkets including northeast Dallas, Freeport, Highway 30 and Interstate 35, the portfolio consists of 1.15 million square feet. It is 85 percent leased to approximately 70 tenants. James Tramuto of CB Richard Ellis/Melody raised the capital, and Jack Fraker with CB Richard Ellis’ Dallas office represented the seller.
HAWTHORNE, CALIF. — Rexford Industrial LLC has acquired Yukon Industrial Center, a 123,174-square-foot, multi-tenant industrial property located at 13020 Yukon Ave. in Hawthorne, from 13020 Yukon LLC for $10.45 million. The property features two single-tenant buildings comprising 41,175 and 22,258 square feet, respectively, and a 59,741-square-foot multi-tenant building. Currently, the property is 100 percent occupied by Gentle Giant Moving Company, Ryan’s Express, Seatmax and Southern California Cuisine. ANR Asset Management represented both parties in the transaction.
DELAND, FLA. — Edwards Construction Services has begun construction on the $5.2 million, 62,870-square-foot manufacturing facility in DeLand for Intellitec Products, a supplier of specialty vehicle electronics. The facility will include 37,445 square feet of factory/industrial space, 6,415 square feet of office space, six loading docks, and 19,010 square feet of future expansion space. The project is slated for completion in February 2008, and is designed by Horton Harley Carter.
DENTON, TEXAS — Granite Properties is currently developing Phase I of Granite Point Business Park, a planned 1 million-square-foot industrial development located at the southwest corner of Interstate 35 East and 35 West in Denton. The first phase of the project comprises a 145,000-square-foot building and 152,200-square-foot building. Amenities will include 24-foot clear height, ESFR sprinklers, rear loading and office space.
MAITLAND, FLA. — Trevi Development will develop a 100,000-square-foot upscale retail and office center, located at Sybelia Parkway and U.S. Highway 17-92 in downtown Maitland that will also house the Maitland Fire Department. The four-story facility will include office space on the upper floors and upscale retail space and the Fire Department facilities on the ground floor. Trevi will begin construction in 2009 as part of the downtown Maitland redevelopment project that was recently approved by Maitland city commissioners.
DOWNERS GROVE, ILL. — Niles, Ill.-based Epic/Savage Realty Partners/TCN Worldwide has brokered the sale of a 39,200-square-foot industrial facility located at 2801 Centre Circle in Downers Grove. David Friedland of Epic/Savage represented the seller, Rossi Furniture, as well as the buyer, Cook Financial. The acquisition price was not disclosed.
NEW CASTLE, DEL. — Patterson-Woods Commercial Properties/CORFAC International has completed the $2.9 million sale of 30 McCullough Drive in New Castle. Palace Laundry, doing business as Linens of the Week, purchased the 40,000-square-foot distribution warehouse from Ly-Del. The buyer will owner-occupy the warehouse. The one-story building features six loading docks, a 24-foot ceiling, a fenced yard and available parking. Phil Hoge and Greg Ellis of Patterson-Woods represented the seller in the transaction, and Chuck White of White Realty Associates represented the buyer.
IRVINE, CALIF. — Don Wilson Builders has purchased Goodyear Business Park, a seven-building, 145,000-square-foot industrial park located within Irvine Spectrum in Irvine, for $33.7 million. The park consists of 39 condominium units ranging in size from 2,807 to 25,712 square feet. Mike Hartel of Voit Commercial Brokerage’s Irvine office represented the buyer; Jeff Carr and Gregg Haley of CB Richard Ellis represented the seller, Panattoni Development, in the transaction.
NORTH LAS VEGAS, NEV. — Centennial West LLC, a joint venture between Las Vegas-based LM Construction Co. and EJM Development Co., has broken ground for the construction of a 40-acre industrial project, which is bordered by Centennial Parkway, Mt. Hood, Azure and Shatz in North Las Vegas. Currently, two distribution buildings are being developed on a 10-acre site within the project. The buildings will offer a combined total of more than 158,000 square feet of space and are slated for completion by fall 2008. The 72,284-square-foot building is divisible to 6,570 square feet and offers 22-foot by 10-foot dock-high doors, eight grade-level doors, 24-foot and 30-foot warehouse clear height, a power capacity of 200 amps, 3-phase power per suite, M-2 zoning and an ESFR fire suppression system. The 86,570-square-foot facility, which is also divisible to 6,570 square feet, features 26-foot by 10-foot dock-high doors, four grade-level doors, 30-foot warehouse clear height, a power capacity of 400 amps, 3-phase power per suite, M-2 zoning and an ESFR fire suppression system.