Industrial

LINCOLNTON, N.C. — Crescent Communities is underway on the construction of AXIAL Midway 321, a new industrial project situated within Lincoln County Industrial Park in Lincolnton, approximately 35 miles northwest of Charlotte. Upon completion, the development will comprise a 175,000-square-foot rear-load building, as well as 133 car parking spaces and 17 trailer parking spaces on a 25-acre lot. The building will feature 32-foot clear heights, 50 dock-high doors, 2,800 square feet of speculative office space, LED warehouse lighting and multiple pit levelers. The project team includes general contractor Myers & Chapman, DMA Architecture, engineer Thomas & Hutton and Carter Bank. Matt Treble and Fermin Deoca of Cushman & Wakefield will manage leasing at the property. A timeline for construction was not disclosed.

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HOUSTON — Landtech Inc. has signed a 24,249-square-foot industrial lease in West Houston. The provider of surveying services is relocating from its current space in the Timbergrove area to the building at 1315 W. Sam Houston Parkway N. Dan Boyles and Brent Bishop of Partners Real Estate represented the tenant in the lease negotiations. Andy Havel of Metroway Commercial Realty represented the undisclosed landlord.

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DENVER — Malman Commercial Real Estate has arranged the sale of a 6,272-square-foot industrial property located at 4940 E. 39th Ave. in Denver. American Financial Group Corp. sold the asset to James R. Jones for $1.1 million. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.

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MEQUON, WIS. — Kleen Test Products Corp. has signed a 30,000-square-foot industrial lease at 1000 W. Donges Bay in Mequon, a northern suburb of Milwaukee. Paul McBride and John Davis of Founders 3 Real Estate Services represented the owner, Stern Real Estate LLC. The tenant develops, manufactures and packages items such as wet wipes and dryer sheets.

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PHOENIX — Baker Development has started the final phase of demolition on a 72-acre industrial site in Phoenix, as part of a redevelopment of the property. Beginning in the 1960s, the site housed a Motorola semiconductor manufacturing campus. Work has been underway at the site for three years, and Baker has delivered one of four parcels to a data center user. Daniel J. Slack, president and COO of Baker, says that the developer is also “in discussions with other well-known companies attracted to the site’s substation-level power, its Foreign Trade Zone potential, as well as access to nearby housing, diverse labor pool and recreational amenities.” 

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EL PASO, TEXAS — St. Louis-based Sansone Group and its equity partner Raith Capital Partners will develop Rancho del Rey Logistics Park, an industrial development in El Paso that will ultimately comprise more than 3.7 million square feet. The 235-acre site at the junction of at I-10 and Loop 375 features proximity to the Ysleta-Zaragoza port of entry. Rancho del Rey Logistics Park will be developed in three phases via a ground lease with an undisclosed local family that has owned the land for multiple generations. A groundbreaking ceremony for Phase I, which will encompass three buildings totaling roughly 1.4 million square feet, will take place in mid-March. The first of those three buildings, a 413,035-square-foot structure, is slated for a fourth-quarter delivery and is fully preleased to Fortune 100 company Bosch. Bob Feinberg and Tom Jones of Colliers represented the landowner and developers in structuring the ground lease and in negotiating the lease for Building 1. Brett Preston and David Hingst of Cushman & Wakefield represented Bosch.

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AURORA, COLO. — JLL Capital Markets has negotiated the sale of Commerce Square, an industrial property in the Denver suburb of Aurora that totals 145,242 square feet across two buildings. Situated on nine acres, the buildings feature rear-loading configurations, 18-foot clear heights, 38 docks, 11 drive-in doors and 265 parking spaces. Larry Thiel, Ryan Sitov and Rob Key of JLL represented the seller, Graham Street Realty, in the transaction. Midtown National Group acquired the property, which was leased to 12 tenants at the time of sale, for an undisclosed price. The leasing team for Commerce Square included Carmon Hicks and Jason White of JLL. 

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KAHULUI, HAWAII — Alexander & Baldwin has arranged one lease and completed the sale of two properties at Maui Business Park Phase II, its 125-acre mixed-use development located in Kahului on the island of Maui. The build-to-suit industrial lease totals 29,500 square feet. The undisclosed tenant plans to relocate operations to the site upon completion of the warehouse and distribution facility. The County of Maui also purchased 12.5 acres at the property for $17.4 million, with plans to construct a new facility for its Department of Transportation. Hamai Appliances Inc. also purchased two lots totaling 1.3 acres for $2.4 million. The buyer plans to build a showroom and service center on the site to expand its current operations. 

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HOUSTON — Partners Real Estate has arranged the sale of a 9,283-square-foot industrial building in northwest Houston. According to LoopNet Inc., the single-tenant property at 10959 Cutten Road was built in 2004 and features 16-foot clear heights and 20 dock-high doors. Wyatt Huff and Hunter Stockard of Partners represented the buyer, M-Tech Electric LLC, in the transaction. Nick Bergmann of CBRE represented the undisclosed seller.

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ITASCA AND ELMHURST, ILL. — Lee & Associates of Illinois has negotiated a pair of industrial lease renewals totaling 112,917 square feet in DuPage County. Jeff Janda and Mike Plumb of Lee & Associates represented tenant Atlas Wire in its lease of 54,690 square feet at 1601 Glenlake Ave. in Itasca. Building owner, Prologis, was self-represented. Janda also represented landlord DRA Advisors on a lease of 58,227 square feet at 951-953 Larch Ave. in Elmhurst. Kevin Segerson of CBRE represented the tenant, Closet Works.

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