Monday, July 14, 2025
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Industrial

AcquisitionsIndianaIndustrialMidwest

CBRE Brokers $24.5M Sale of Suburban Indianapolis Industrial Building

by Kristin Harlow

WHITESTOWN, IND. — CBRE has brokered the $24.5 million sale of Park 130 at Whitestown Building 2, a 356,900-square-foot industrial building in the Indianapolis suburb of Whitestown. The property at 5828 Commerce Drive is triple net leased to Maxxis Tires, a global manufacturer of high-quality tires. Completed in 2019, the building is situated on nearly 22 acres within the larger Park 130 at Whitestown. The property features a clear height of 32 feet, 42 insulated dock doors and two drive-in doors. Kevin Foley, Anthony DeLorenzo, Andrew Morris and Jeremy Woods of CBRE Investment Properties represented the private seller. A private, high-net-worth buyer purchased the asset at a cap rate of 5.6 percent.

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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Bridge Industrial Acquires 22-Acre Site in Suburban Chicago, Plans to Build 292,011 SF Spec Project

by Kristin Harlow

BOLINGBROOK, ILL. — Bridge Industrial has acquired a 22-acre site in Bolingbrook within the I-55 submarket. The developer plans to build Bridge Point I-55 Commerce Center, a two-building speculative industrial project totaling 292,011 square feet. Bridge acquired the site from Chicagoland-based Orange Crush LLC, which previously used the facility as an asphalt crushing and transloading facility. Construction is scheduled to begin in the second quarter with completion slated for mid-2025. Dan Leahy of NAI Hiffman represented Bridge in the sale and will serve as the leasing agent for the development.

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The-Great-290-Distribution-Center
Conference CoverageIndustrialMarket ReportsTexasTexas Market Reports

InterFace Panel: Positive Absorption Illustrates Health of Houston Industrial Market, But Sublease Supply Is Worth Monitoring

by Taylor Williams

By Taylor Williams The Houston industrial market has generally performed quite well over the past few years, even as a global pandemic, record inflation and hard-hitting interest rate hikes have rocked the commercial real estate industry as a whole. Demand for industrial space has held firm due to rebounding energy prices and expansions in infrastructure and traffic at Port Houston, as well as organic population growth and economic diversification that has elevated the market’s role as a distribution hub. According to data from CBRE, the market has a 6 percent vacancy rate and posted 5.1 million square feet of positive net absorption through the first three quarters of 2023. The volume of new construction was on track to outpace absorption in 2023 when the report was released. But that was not the case in 2021 and 2022, years in which net absorption equaled and exceeded 7 million square feet, respectively. New deliveries totaled approximately 5.6 million and 5.4 million square feet in each of those years, driven not only by the aforementioned factors but also by a temporary uptick in demand for e-commerce services in the wake of the pandemic. In any market or asset class, when absorption exceeds supply …

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AcquisitionsIndustrialTexas

Finial Group Arranges Sale of 190,714 SF Industrial Park in North Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 190,714-square-foot industrial park in North Houston. The master-planned development comprises nine buildings on a 15.1-acre site at 1531-15342 Vantage Parkway E. A family office sold the park to a private equity group for an undisclosed price, with both parties requesting anonymity. Keith Bilski, Dylan Schopper, Jack Gaffney, Chase Tucker and John Buckley of Finial Group brokered the deal.

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IndustrialLeasing ActivityTexas

Lockheed Martin Signs 136,165 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lockheed Martin has signed a 136,165-square-foot industrial lease in Fort Worth. The aerospace and defense contractor will take space at Fort West Commerce Center, a three-building, 531,601-square-foot development that sits on a 30-acre site on the city’s north side. Todd Burnette and John Davidson of JLL represented Lockheed Martin in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Phoenix-based Creation Equity. 

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IndustrialLeasing ActivityTexas

Oxford Partners Negotiates 48,500 SF Industrial Lease in Flower Mound, Texas

by Taylor Williams

FLOWER MOUND, TEXAS — Houston-based brokerage firm Oxford Partners has negotiated a 48,500-square-foot industrial lease in Flower Mound, located in the northern-central part of the metroplex. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord, Prologis, in the lease negotiations. Chase McAteer of Oxford Partners represented the tenant, Amber Green Realty, which plans to use the facility for the preparation of catered meals.

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KeHE_Elkton-Fla
DevelopmentFloridaIndustrialSoutheast

KeHE Distributors Underway on 530,474 SF Industrial Facility in North Florida

by Hayden Spiess

ELKTON, FLA. — KeHE Distributors is underway on the development of a 530,474-square-foot build-to-suit industrial facility in the St. Augustine suburb of Elkton, which will provide office and distribution space for the company. KeHE distributes natural and organic, specialty and fresh food products to more than 31,000 stores throughout North America. The project comprises a two-story, 30,000-square-foot executive office suite, as well as roughly 500,000 square feet of warehouse and distribution space. The new facility will replace the company’s older buildings, which are situated across the street from the development site. Completion of the development is scheduled for 2025. Design firm Ware Malcomb is providing architecture, interior design and branding services for the project, and Evans General Contractors is constructing the facility. 

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Ocala-Logistics-Center_Ocala-Fla
FloridaIndustrialLeasing ActivitySoutheast

BroadRange Logistics Leases 350,899 SF Industrial Building in Ocala, Florida

by Hayden Spiess

OCALA, FLA. — BroadRange Logistics has signed a lease to fully occupy Ocala Logistics Center, a 350,899-square-foot industrial building in Central Florida. Situated at the corner of N.W. 35th St. and N.W. 27th Ave. in Ocala, the property features 196 parking spaces, 96 trailer drops, ESFR sprinkler systems and 36-foot clear heights. Clay Witherspoon of Avison Young represented the landlord, MDH Partners, in the lease negotiations. John Gosnell of Strategic Real Estate Partners represented the tenant. 

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420-501-S-Mill-Ave-Tempe-AZ
AcquisitionsArizonaIndustrialRetailWestern

Capstone Acquires Two Commercial Properties in Tempe, Phoenix for $28M

by Amy Works

PHOENIX AND TEMPE, ARIZ. — Capstone Advisors has purchased an urban core retail and entertainment property in Tempe and a flex industrial building in Phoenix. The names of the sellers were not released. Located at 420 and 501 S. Mill Ave. in Tempe, the retail and entertainment property consists of two buildings totaling 38,896 square feet. Capstone paid $22.2 million for the asset. At the time of sale, the property was fully occupied. Current tenants include Starbucks Coffee, Spinelli’s Pizza, Lotions & Potions, Bang Bang, Crispy Cones, Varsity Tavern, Rodeo Ranch and Low Key Piano Bar. In the second transaction, Capstone acquired a flex industrial building located at 16402 N. 28th Ave. in Phoenix for $5.8 million. Currently, the 51,680-square-foot building is used as a temperature-controlled, drop-ceiling office occupied by Kemper Insurance. Capstone plans to convert the building back to industrial use as soon as Kemper’s lease expires.

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Hill-Homes-Self-Storage-Portfolio-CO
AcquisitionsColoradoIndustrialSelf-StorageWestern

DXD Capital Buys 135,050 SF Hill & Homes Self-Storage Portfolio in Colorado

by Amy Works

GRAND JUNCTION AND PALISADE, COLO. — DXD Capital, a New Mexico-based self-storage private equity firm, has acquired a Hill & Homes Self-Storage portfolio featuring seven properties spread across Colorado’s western slope. A local private owner and developer sold the portfolio for an undisclosed price. Totaling 135,050 square feet, the portfolio features 922 units all managed from a central office. All locations have perimeter fences, remote-accessed security camera and gates. The facilities are located at 2222 Sandford Drive, 2462 Highway 6 and 50, 2693 Highway 50, 1462 Colorado Ave., 2787 Printer’s Court and 3170 Pipe Court in Grand Junction and 340 W. 3rd St. in Palisade. Thomas Parsons and Adam Schlosser of the LeClair-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the deal.

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