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.
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.
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.
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.
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.
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.
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.
PORT ST. LUCIE, FLA. — Big-box wholesale retail giant Costco and St. Louis-based development firm Sansone Group have teamed up to purchase 192 acres within Legacy Park at Tradition, a 425-acre industrial park in Port St. Lucie. The companies plan to develop a 595,000-square-foot depot facility at the site. Costco has industrial development rights to expand its project up to 1.9 million square feet. Other Sansone-developed projects at Legacy Park at Tradition include build-to-suit facilities for FedEx Ground and Amazon, as well as two speculative facilities. The developer is also in the planning stages of another spec facility and a cold storage property within the park. The project team for the Costco development includes engineer Culpepper & Terpening, legal counsel Husch Blackwell, the City of Port St. Lucie and Robert Smith and Kirk Nelson at CBRE. The construction timeline was not disclosed.
SANTA FE SPRINGS, CALIF. — JLL Capital Markets has arranged the sale of a warehouse and distribution facility, located at 10329 Painter Ave. in Santa Fe Springs, a suburb southeast of Los Angeles. An affiliate of Zurich Alternative Asset Management sold the asset to Sterling Investors LP for $11.2 million. The 42,725-square-foot property features 30-foot clear heights, six dock-high doors, one grade-level door and an 82-foot truck court. At the time of sale, the building was fully leased to a single tenant. Mark Detmer, Chad Solomon, Makenna Peter, Cameron Driscoll and Luke McDaniel of JLL Capital Markets represented the seller and procured the buyer in the deal.
LOS ANGELES — Los Angeles-based PCCP LLC has provided a $102 million acquisition loan to Stoltz Real Estate Partners, a real estate fund manager based in Bala Cynwyd, Pa., for a five-property industrial portfolio in the Southeastern United States. John Alascio, Alex Hernandez, Chris Meloni, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield arranged the financing on behalf of Stoltz. The 1.6 million-square-foot portfolio is located within the Atlanta, Charleston, Charlotte, Louisville and Nashville MSAs. The properties were fully leased at the time of financing to seven tenants that had a weighted average lease term (WALT) remaining of 4.6 years. All five properties were developed between 2018 and 2023 and range in size from 157,000 to 636,000 square feet. The seller and sales price were not disclosed.