Industrial

Echo-Park-303-Glendale-AZ

GLENDALE, ARIZ. — Echo Real Estate Capital and LGE Design Build have completed Echo Park 303, a two-building industrial project near the intersection of Northern Parkway and Reems Road in Glendale, a suburb of Phoenix. Totaling 676,176 square feet, Echo Park 303 includes 220,240-square-foot Building A and 455,936-square-foot Building B. Situated on 40 acres, the site offers ample parking, including 743 parking spaces and gated yards to accommodate nearly 150 trailer spaces. HubStar Logistics signed a lease to occupy the entirety of Building A. Designed and built by LGE, Echo Park 303 features two stories of storefront window systems placed to maximize natural lighting within the lobbies and office spaces located at the corners of the buildings. JLL is handling leasing for the project.

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LANDIS, N.C. — Jackson-Shaw has broken ground on Landis Ridge, a 1.3 million-square-foot industrial park in Landis, a northeast suburb of Charlotte in Rowan County. The Dallas-based developer plans to deliver the project, its first in the Charlotte area, in two separate phases. Phase I is slated for a second-quarter 2025 delivery and will comprise three buildings totaling nearly 600,000 square feet. Situated on nearly 150 acres at 619 Old Beatty Ford Road, the parcel is located midway between US Route 29 and the new exit 65 on I-85. Jackson-Shaw is developing Landis Ridge on a speculative basis with various uses in mind, including third-party logistics occupiers, e-commerce distribution, consumer goods, warehousing and manufacturing. Jay Hill, Spencer Yorke and Matthew Greer of JLL are leading leasing efforts. Compatriot Capital is Jackson-Shaw’s equity partner for Landis Ridge, and Hartford Investment Management Co. (HIMCO) provided construction debt financing. The design-build team includes general contractor Frampton Construction, civil engineer Orsborn Engineering Group and architect Merriman Schmitt Architects.

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Westpoint-45-Houston

HOUSTON — A joint venture between locally based developer Vigavi and Principal Asset Management has broken ground on Westpoint 45, a 728,080-square-foot industrial project in North Houston. The 42-acre site at 410 West Road is located near the intersection of I-45 and Beltway 8, and the development will feature 40-foot clear heights, speculative office space and 180 trailer parking stalls. Seeberger Architecture is designing the project, and Angler Construction is serving as the general contractor. JLL will market the property for lease. Delivery is slated for early 2025.

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TAMPA, FLA. — A joint venture between PCCP LLC and Stonemont Financial Group plans to break ground next month on a 100,620-square-foot speculative industrial facility in Tampa. Called TIA Executive Center, the project will be located at 6101 Johns Road, which is within two miles of Tampa International Airport and immediately north of Executive Industrial Park. The property will offer 32-foot clear heights, spec office suites and will be divisible down to around 33,000 square feet to accommodate smaller users. PCCP and Stonemont Financial plan to deliver TIA Executive Center in first-quarter 2025. The project team includes general contractor Frampton Construction, architect Harley Commercial Architecture and civil engineer Kimley-Horn. JLL will handle leasing on behalf of the co-developers.

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Brickyards-on-Ellsworth-Mesa-AZ

MESA, ARIZ. — Scottsdale-based Martens Development has broken ground on Brickyards on Ellsworth, an industrial development in Mesa, a suburb east of Phoenix. Completion is slated for second-quarter 2025. Upon completion, Brickyards on Ellsworth will feature eight buildings totaling 909,553 square feet of move-in-ready spaces for industrial tenants. The buildings will range from 35,000 square feet to 250,000 square feet. The project team includes FCL Builders, Ware Malcomb, Hunter Engineering, TLCP and Peterson Associates. Principal Asset Management is the construction lender. Jackie Orcutt, Kevin Cosca, Pete Wentis, Jonathan Teeter and Alex Wentis of CBRE are leading leasing for the development.

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Pinnacle-Peak-Commerce-Center-Phoenix-AZ

PHOENIX — Top 10 Properties has acquired Pinnacle Peak Commerce Center, a freestanding, Class A light industrial building in Phoenix’s Deer Valley submarket. An undisclosed seller divested of the asset for $21.8 million. With immediate access to Interstate 17, Pinnacle Peak Commerce Center features 93,725 square feet of industrial space. At the time of sale, the property was 100 percent leased to three tenants. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, in partnership with Tracy Cartledge and Robert Buckley of Cushman & Wakefield, brokered the transaction for the buyer and seller. Trevor McKendry and Chris Rogers of DAUM Commercial provided lease advisory.

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Level-Crossing-Phase-3-Surprise-AZ

SURPRISE, ARIZ. — Hardy World LLC and Silver Creek Development have broken ground on the Phase III at the Level Crossing master-planned industrial development site in Surprise. Located at 13550 N. Dyasrt Road, the third and final phase will include a 150,615-square-foot speculative warehouse facility. Geared toward logistics and distribution tenants, the warehouse will have the potential to be divided into three tenant spaces for maximum flexibility. ARCO Construction Co. is providing design-build services for the project. The overall Level Crossing plan is slated for completion in early 2025.

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100-Frontage-Road-Newark

NEWARK, N.J. — JLL has arranged $81 million in permanent financing for a 224,900-square-foot, newly constructed industrial building located in Newark. The 12.2-acre site at 100 Frontage Road is adjacent to Newark Liberty International Airport, and the building is fully leased to United Airlines. Building features include a clear height of 40 feet, 41 dock-high doors and parking for 130 cars and 38 trailers. Jim Cadranell, Greg Nalbandian and Michael Lachs of JLL arranged the five-year, interest-only loan through an undisclosed life insurance company. The borrower was Seagis Property Group.

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Amazon-Web-Services-data-center_Ohio

NEW CARLISLE, IND. — Amazon Web Services (AWS), the web hosting division of Amazon (NASDAQ: AMZN) has announced plans for an $11 billion data center campus in New Carlisle, a town of roughly 1,600 people located near the Michigan-Indiana border. The exact location of the site was not disclosed, but the campus will be situated within the Indiana Enterprise Center, a master-planned development in St. Joseph County that spans nearly 3,000 acres. The Indiana Economic Development Corp. has committed to several incentives for the project. These incentives include up to $18.3 million in employment-based tax credits, up to $5 million in training grants, up to $55 million in Hoosier Business Investment tax credits and up to $20 million in redevelopment tax credits. These incentives are performance-based, meaning the company is eligible to claim state benefits once investments are made. In addition to its community investment and engagement activities, AWS will also contribute up to $7 million to support road infrastructure improvements in and around the site. Details on the development timeline were not immediately available. Amazon claims the project will create at least 1,000 new jobs. “Amazon has long been an important economic partner in Indiana, and we are excited …

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HOUSTON — Alternative investment management firm GID has acquired Beltway Northwest, a 299,000-square-foot industrial property in Houston. Built in 2007, the five-building development features 17- to 24-foot clear heights, 62 dock high doors and 18 drive-in doors. Beltway Northwest was fully leased to 17 tenants at the time of sale. The seller and sales price were not disclosed. Transwestern has been appointed as the leasing agent.

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