GEORGETOWN, KY. — Auto giant Toyota has announced plans to invest $1.3 billion at Toyota Motor Manufacturing Kentucky, the company’s flagship plant in Georgetown. Toyota will invest the capital to increase production of its all-electric, three-row SUVs at the plant, including the establishment of a battery pack assembly line. CNBC reports that Toyota will begin production on the electric SUVs between late 2025 and early 2026. Toyota announced in May that it plans to invest $591 million in future projects and increase job retention to 700 full-time jobs at the plant. Situated about 16 miles north of Lexington within Scott County, Toyota Motor Manufacturing Kentucky represents an approximately $10 billion investment since operations first began in 1988. The company has produced more than 12 million vehicles at the plant over the past four decades.
ASHLAND, VA. — Matan Cos. has delivered Phase I of Northlake II, an industrial park located along the I-95 corridor in Ashland, a northern suburb of Richmond. The first three buildings of the park span 345,000 square feet and were fully leased upon delivery to tenants including Ferguson, Chadwell Supply, Envoy Solutions and Haskell Hardware. Gareth Jones, Chris Avellana and Charlie Polk of JLL handle the leasing at Northlake II on behalf of Matan. Construction of Phase II will commence this summer, with expected completion at the end of 2025 for the final building, which will span approximately 200,000 square feet.
BROOKSHIRE, TEXAS — Lee & Associates has negotiated a 167,120-square-foot industrial lease in the western Houston suburb of Brookshire. The tenant, SOLogistics, has leased the entirety of Westside 10 Industrial Park, a front-load building that features 32-foot clear heights, 38 dock doors, two overheard doors, 145-foot truck court depths and parking for 227 cars and 15 trailers. Robert McGee, Taylor Schmidt and Austin Bartula of Lee & Associates represented the landlord, a partnership between Growth Capital Partners and Phelan Development Co., in the lease negotiations. Will Clay of JLL represented SOLogistics.
BAYTOWN, TEXAS — Locally based developer Triten Real Estate Partners has completed Thompson Road Distribution Center, a 130,755-square-foot industrial project located near Port Houston in Baytown. The site spans eight acres, and the building features 32-foot clear heights, 18 dock-high doors, two drive-in ramps, 80 trailer drops and 62 car parking spaces. Method Architecture designed the project, and Angler Construction served as the general contractor. Boyd Commercial is the leasing agent.
IRVING, TEXAS — Freedom Furniture & Design has signed a 15,340-square-foot lease at Royal Jetstar Tech Center, a 92,052-square-foot industrial flex facility in Irving. The lease term is seven years, and the tenant plans to take occupancy in May. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Pre DFW Airport LLC, in the lease negotiations. Daniel Rudd of Avison Young represented the tenant.
HAUPPAGE, N.Y. — A partnership between Chicago-based Venture One Real Estate and New York City-based Affinius Capital has delivered a 123,970-square-foot speculative industrial project in the Long Island community of Hauppage. The site at 49 Wireless Blvd. is located within Hauppage Innovation Park, and the building features a clear height of 36 feet, 130-foot truck court depths and parking for 131 cars and 40 trailers. Cushman & Wakefield is marketing the property for lease.
PORTLAND, ORE. — BKM Capital Partners has acquired Airport Way Corporate Park, a three-building industrial property in Portland, for $24.5 million. The name of the seller was not released. BKM plans to rename the property PDX Distribution Center. Located at 12021 NE Airport Way and 12055 and 12067 NE Glenn Widing Drive, the 140,693-square-foot property operates as a multi-tenant park. The three buildings offer 16 units ranging in size from 3,666 square feet to 32,533 square feet with office space accounting for 36 percent of the overall leaseable area. Built in phases between 1992 and 2008, the park features 19 dock-high and 22 grade-level loading doors, up to 26-foot clear heights, concrete truck courts and ample parking. At the time of sale, the asset was 97 percent leased to 15 tenants. BKM plans to invest more than $1.3 million into capital improvements. Plans include upgrades to the roof, parking lots and HVAC systems, as well as a modernized paint scheme, new signage and refreshed landscaping. The company also plans to convert a vacant unit into functional warehouse space. Paige Morgan, Brett Hartzell and Cara Nolan of CBRE represented the seller in the transaction.
TRAVERSE CITY, MICH. — Marcus & Millichap has brokered the sale of Empire Self Storage, a 71,350-square-foot self-storage facility in Traverse City. The sales price was undisclosed. Built in 2015, the property consists of 500 non-climate-controlled units. Approvals are in place to build an additional six buildings totaling 300 units. Brian Kelly, Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.
HAGERSTOWN, MD. — The Webstaurant Store LLC, an online restaurant supplier based in Pennsylvania, has signed a 1.2 million-square-foot lease for a new distribution center in Hagerstown, a city near the Maryland-Pennsylvania border. A partnership led by Baltimore-based MCB Real Estate is the landlord/developer of the 1.5 million-square-foot industrial park, dubbed Currwood Logistics Center. Cushman & Wakefield represented the landlord in the lease negotiations, while Newmark represented Webstaurant Store. Other member firms in the park’s ownership include Invesco Real Estate, Curated Development Group, Birchwood Capital Partners and Artemis Real Estate Partners. Currwood Logistics Center is situated near the intersection of I-70 and I-81 along Paul Smith Boulevard and will create 700 new jobs at full capacity, according to MCB. The property will serve as the hub of Webstaurant Store’s Northeast fulfillment network.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 31,835-square-foot industrial sublease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the property at 1215 W. Crosby Road was built in 2014 and totals 184,855 square feet. Corbin Blount and Adam Graham of Lee & Associates represented the sublessor, Grand Fusion Housewares LLC, in the lease negotiations. Mike Cleary, Bill Buntyn and Danny Stimson of Colliers represented the sublessee, Accelevation LLC.