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DevelopmentIndustrialKentuckySoutheastTop Stories

Canadian Solar’s e-Storage to Develop $712M Battery Manufacturing Facility Near Louisville, Kentucky

by Hayden Spiess

SHELBYVILLE, KY. — Shelbyville Battery Manufacturing, a subsidiary of e-Storage, has announced plans to develop a $712 million project in Kentucky, establishing a 6-gigawatt hour battery cell, module and packaging manufacturing facility.  Based in Canada, e-Storage is a subsidiary of Canadian Solar — a battery energy storage systems design, manufacturing and integration company.  Upon completion, the development will comprise a 1 million-square-foot building located on Logistics Drive in Shelbyville, roughly 35 miles east of Louisville. Shelbyville Battery Manufacturing will produce self-contained energy storage systems at the facility that will be packaged into modular, containerized utility-scale batteries. “The new plant will allow us to provide our U.S. customers with cutting-edge, American-made battery energy storage products,” says Colin Parkin, president of e-Storage.  According to a press release issued by the office of Kentucky Gov. Andy Beshear, the project will create 1,572 permanent jobs and marks the third-largest project for job creation during Beshear’s administration, which began in 2019.  In August, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with Shelbyville Battery Manufacturing to provide up to $35 million in tax incentives. The authority also approved the manufacturer for up to $5 million in tax incentives through the …

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Oncor-Midlothian
DevelopmentIndustrialTexas

KDC Delivers 422,000 SF Distribution Center for Oncor in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — Dallas-based developer KDC has delivered a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility features a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction served as the general contractor. Construction began in December 2023.

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AcquisitionsIndustrialTexas

Evergen Equity Buys 284,000 SF Industrial Property in Lockhart, Texas

by Taylor Williams

LOCKHART, TEXAS — Austin-based Evergen Equity has purchased a 284,000-square-foot industrial property in Lockhart, a southern suburb of Austin. The sale includes nine acres of undeveloped land. While under contract, Evergen negotiated a 49,000-square-foot lease with Hill Country Foodworks for its new headquarters and main distribution facility. Stream Realty Partners will market the remainder of the space/land for lease/sale. The seller and sales price were not disclosed.

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AcquisitionsIndustrialTexas

Finial Group Acquires 30,326 SF Industrial Building in Southeast Houston

by Taylor Williams

HOUSTON — Locally based investment and brokerage firm Finial Group has acquired a 30,326-square-foot industrial building in southeast Houston. According to LoopNet Inc., the single-tenant property at 6666 Gulf Freeway was built on 1.3 acres in 1965 and features 18-foot clear heights, three dock-high loading doors and two grade-level drive-in doors. Christian Villarreal and Chase Tucker handled the acquisition for Finial Group on an internal basis. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityNortheastPennsylvania

Veho Signs 148,611 SF Industrial Lease in Northeast Philadelphia

by Taylor Williams

PHILADELPHIA — Veho has signed a 148,611-square-foot industrial lease in northeast Philadelphia. The third-party logistics firm will occupy the entirety of Building 1 at Bridge Point Philadelphia, a two-building, 890,312-square-foot development that was completed recently. Larry Maister and Kyle Lockard of JLL represented the landlord, Bridge Industrial, in the lease negotiations. Barrett Stephan and Brian Hilger of KBC Advisors represented Veho.

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DevelopmentIndustrialNew JerseyNortheast

Altman to Develop 140,000 SF Industrial Project in Parsippany, New Jersey

by Taylor Williams

PARSIPPANY, N.J. — A division of Altman, a South Florida-based investment firm formerly known as BBX Capital, will develop Apex Logistics at Parsippany, a 140,000-square-foot industrial project in Northern New Jersey. The 10.5-acre site is located about 30 miles from multiple air and seaports and currently houses an office building. Altman is developing the project in partnership with Renard Investments and DHS Real Estate Investment Management. Truist Bank has provided $22 million in construction financing for the project. Construction is expected to begin early next year and to last about a year.

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CaliforniaDevelopmentIndustrialWestern

DECA Breaks Ground on 855,330 SF Perris Gateway Distribution Facility in California’s Inland Empire

by Amy Works

PERRIS, CALIF. — San Francisco-based DECA has broken ground on a warehouse and distribution facility within Perris Gateway, a fully entitled, speculative cross-dock development on 42 acres in Perris. The new warehouse facility is the second phase of the project, with the first phase consisting of 27,000 square feet of retail space that began construction along Ramona Expressway in March 2023. The 855,330-square-foot industrial building will offer a clear height of 40 feet, 124 dock and four grade loading doors, separate 308 trailer stalls and ample auto parking, heavy power, on-site queuing lane and future adjacent retail amenities. The property is situated at the southeast corner of Ramona Expressway and Nevada Road, just off the Interstate 215 on/off ramp. Andrew Starnes, Phil Lombardo and Cruise Adams of Cushman & Wakefield are handling leasing efforts for the warehouse facility. DECA recently closed on a $135 million construction loan to fund the development of the new warehouse facility. The loan was provided by Affinius Capital and Bank OZK. The equity commitment originated from DECA’s principals and Wildcat Capital Management.

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District of ColumbiaIndustrialLoansSoutheast

PRP Obtains $291M CMBS Loan for 4.5 MSF National Logistics Portfolio

by John Nelson

WASHINGTON, D.C. — PRP has obtained a $291 million CMBS loan for the refinancing of a national logistics portfolio totaling more than 4.5 million square feet. Eastdil Secured arranged the single-asset single-borrower (SASB) loan through JP Morgan. The portfolio spans five newly constructed buildings in the industrial markets of Houston; Greenville-Spartanburg, S.C.; St. Louis, Ill.; and Birmingham, Ala. The properties were fully leased at the time of financing including to tenants including a global online retailer, a home improvement company and power tool manufacturer, according to Washington, D.C.-based PRP.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

RDI Group Signs 43,845 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — The RDI Group, a manufacturer of engineered systems for the roofing, construction, power, metal coil processing and medical industries, has signed a 43,845-square-foot industrial lease at 940-942 Thorndale Ave. in Itasca. Jeff Janda of Lee & Associates represented the tenant, while Mike Plumb of Lee & Associates represented the owner, Link Logistics. Cabot Properties manages the building.

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AcquisitionsIndustrialKansasMidwest

TruCore Investments Buys 17,250 SF Industrial Outdoor Storage Property in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — TruCore Investments has purchased a 17,250-square-foot cross-dock truck terminal and maintenance facility at 6125 Speaker Road in Kansas City. The industrial outdoor storage property is situated on 5.4 acres and features 31 dock doors, two drive-in bays and a fully fenced concrete yard. Initially, the facility will be leased for a short term to the current tenant. Following this period, TruCore will market the property for lease.

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