Industrial

Contegra Construction Underway on 611,000 SF Warehouse for McLeod Express in Decatur, Illinois

by Kristin Harlow October 11, 2024

DECATUR, ILL. — Contegra Construction Co. is underway on a 611,000-square-foot warehouse for McLeod Express in Decatur, about 40 miles east of Springfield. Completion is slated for June 2025. The building will serve as McLeod’s second warehouse in Decatur. The project will feature a clear height of 36 feet and 56 dock doors, including four drive-through doors. Parking will be available for 63 cars and 64 trucks. There will also be a two-story, 6,000-square-foot office space. Founded in 1986, McLeod Express is a transportation company with more than 400 employees managing a fleet of over 300 trucks and 900 trailers.

October 11, 2024

Acquisitions Illinois Industrial Midwest

Alterra IOS Acquires Three Industrial Outdoor Storage Sites in Metro Chicago

by Kristin Harlow October 11, 2024

ILLINOIS AND INDIANA — Alterra IOS has acquired three industrial outdoor storage (IOS) sites totaling 14 acres in metro Chicago for an undisclosed price. The parcels include 2201 E. Higgins Road in Elk Grove Village, Ill.; 22634 S. Frontage Road in Minooka, Ill.; and 300 W. Chicago Ave. in East Chicago, Ind. All three properties are fully leased to a company in the equipment rental industry and feature more than 30,000 square feet of accompanying warehouse space. Alterra’s industrial real estate platform, Alterra IOS, is focused on heavy industrial and outdoor storage space.

October 11, 2024

Development Industrial Mixed-Use North Carolina Southeast

Welcome Group Opens Phase I of 1.3 MSF Business Park in Durham

by John Nelson October 11, 2024

DURHAM, N.C. — Developer Welcome Group has opened the first phase of Welcome Venture Park, a new business park situated on 160 acres in Durham. Upon completion, the project will total roughly 1.3 million square feet of space for industrial, flex and life sciences tenants. Phase I comprises four industrial buildings totaling 394,800 square feet. RW2 Development Co. is managing entitlements, development and project management on behalf of Welcome Group. Other members of the project team include Choate Construction, Withers Ravenel, Maurer Architecture and Sullivan Eastern. Colliers is handling leasing for the development, and U.S. Bank provided construction financing for the first phase.

October 11, 2024

Acquisitions Industrial Southeast Tennessee

Phoenix Investors Acquires 411,489 SF Industrial Complex in Northwest Tennessee

by John Nelson October 11, 2024

UNION CITY, TENN. — An affiliate of Phoenix Investors has acquired a 411,489-square-foot industrial complex located in Union City, a city in the northwestern corner of Tennessee. MVP Group International sold the property, which is located at 600 E. Sherwood Drive, for an undisclosed price. Built in 1985 and renovated in 1995, the development comprises roughly 398,000 square feet of warehouse space, as well as 13,500 square feet of office space and a 2,200-square-foot breakroom. The building features 18 dock doors, clear heights of up to 28 feet, two compressors and an extensive racking system. Phoenix Investors plans to implement a capital improvement plan at the property.

October 11, 2024

Development Industrial Texas

Hillwood to Develop 1.1 MSF Spec Industrial Project at AllianceTexas in North Fort Worth

by Taylor Williams October 10, 2024

FORT WORTH, TEXAS — Hillwood will develop a 1.1 million-square-foot industrial project on its AllianceTexas campus in North Fort Worth. Alliance Westport 24 will feature a cross-dock configuration, 40-foot minimum clear heights, 60-foot loading bays, 190-foot truck court depths and onsite infrastructure for future electric car and truck charging stations. In addition, the site is currently configured to support 394 car parking spaces and 227 trailer parking spaces but can be expanded to 564 and 704 spots, respectively. RGA Architects is designing the project, and Westwood is the civil engineering firm. Hillwood Construction Services will serve as the general contractor. Construction is scheduled to begin before the end of the month and to be complete in late 2025.

October 10, 2024

Acquisitions Industrial Self-Storage Texas

Matthews Negotiates Sale of 270-Unit Self-Storage Facility in Round Rock, Texas

by Taylor Williams October 10, 2024

ROUND ROCK, TEXAS — Matthews Real Estate Investment Services, a California-based brokerage firm, has negotiated the sale of a 270-unit self-storage facility in the northern Austin suburb of Round Rock. Life Storage operates the facility at 506 McNeil Road, which was originally constructed in 1980 and totals 28,450 square feet of net rentable space. Austin McLeod of Matthews represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

October 10, 2024

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 195,375 SF Industrial Building in Mundelein, Illinois

by Kristin Harlow October 10, 2024

MUNDELEIN, ILL. — Colliers has arranged the sale of a 195,375-square-foot industrial building in Mundelein, a northern suburb of Chicago. The sales price was undisclosed. Known as Route 60 Logistics Center, the property is located at 1300 Allanson Road just west of a four-way interchange at I-94 and Route 60. Completed in 2021, the facility is fully leased to two tenants. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the sellers, Affinius Capital and Venture One Real Estate. An institutional real estate investor purchased the asset.

October 10, 2024

Acquisitions Georgia Self-Storage Southeast

Storage Acquisition Group Purchases 911-Unit Self-Storage Facility in Conyers, Georgia

by John Nelson October 10, 2024

CONYERS, GA. — The Storage Acquisition Group (TSAG) has purchased a 911-unit self-storage facility located at 4489 McDonough Highway in Conyers, about 30 miles southeast of Atlanta. The 76,125-square-foot asset was the final facility of TSAG’s 18-property portfolio purchase from True Self Storage that spans 13,714 units across 10 states. The sales price was not disclosed. Bill Sitar Jr., John Cranley, Andrew Burachinsky and Monty Spencer led TSAG’s acquisition team on an internal basis.

October 10, 2024

Acquisitions California Industrial Western

Rockpoint Completes Sale of Two-Building Industrial Property in San Diego to Badiee Development

by Amy Works October 10, 2024

SAN DIEGO — Boston-based Rockpoint has completed the disposition of a two-building industrial property located in San Diego’s Otay Mesa neighborhood to Badiee Development. Financial terms of the transaction were not released. The sale is the third in a series of three industrial properties that Rockpoint and Badiee jointly purchased and developed and completes Rockpoint’s realization of all three properties. Located at 2080 Sanyo Ave. and 9350 Airway Road, the 243,000-square-foot asset offers 32-foot clear heights, a desirable dock door ratio, access to the 125 and 905 freeways and the flexibility to accommodate multiple tenant configurations in each building. Rockpoint and Badiee acquired the 15-acre site in June 2021 and subsequently developed the two industrial buildings.

October 10, 2024

Acquisitions Arizona Industrial Western

Berkeley Partners Sells 97,240 SF Pima Street Logistics Center in Phoenix

by Amy Works October 10, 2024

PHOENIX — Berkeley Partners has completed the disposition of Pima Street Logistics Center, a standalone industrial building on 4.2 acres in Phoenix, to Ares Management Real Estate fund for an undisclosed price. Situated in the city’s Sky Harbor submarket, the 97,240-square-foot Pima Street Logistics Center offers a multi-tenant layout, multiple storefronts, LED lighting and approximately 0.5 acres of secured yard. At the time of sale, the asset was fully leased to three tenants. Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction. Ares Industrial Management will manage the asset.

October 10, 2024

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