DALLAS — Florida Tile has signed a 14,903-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the property at 9755 Clifford Drive was built on 8.2 acres in 2001 and totals 114,320 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The tenant representative was not disclosed.
LONGMONT, COLO. — Berkeley Partners has completed the disposition of two industrial parks totaling 98,600 square feet in Longmont, approximately midway between Denver and Fort Collins. Denver-based CentrePoint Properties acquired the assets for $16.7 million. Jeremy Ballenger, Tyler Carner, Jessica Ostermick and Jim Bolt of CBRE represented the seller in the deal. The industrial parks include four buildings located at 1501-1551 S. Sunset St. and 2120-2150 Miller Drive. The assets offer small-bay industrial space, catering to tenants that need between 3,500 square feet and 27,000 square feet. At the time of sale, the parks were 93 percent leased to nine tenants.
EAST HANOVER, N.J. — Urban Edge Properties (NYSE: UE) has sold a portfolio of seven light industrial buildings totaling 1.2 million square feet in the Northern New Jersey community of East Hanover. The portfolio was fully leased to a roster of 13 tenants at the time of sale, and the buildings feature an average clear height of 21 feet. Jose Cruz, Marc Duval, Jordan Avanzato, Nick Stefans, Jason Lundy and Austin Pierce of JLL represented Urban Edge Properties in the transaction. The buyer was a partnership between an investment fund managed by Morgan Stanley and New Jersey-based owner-operator Saxum Real Estate.
VERNON HILLS, ILL. — PREMIER Design + Build Group will soon break ground on a new headquarters for Heathrow Scientific, a global manufacturer of laboratory supplies and instruments designed to support scientific research, analysis and experimentation. The new facility will be located at 440 N. Fairway Drive in the Chicago suburb of Vernon Hills and will house the company’s manufacturing, laboratory and office operations. Construction of the two-story, 112,000-square-foot building will commence once demolition of an existing structure on the site is complete. The project will feature a large laboratory, employee fitness center, outdoor dining area, 12 dock positions, two drive-in doors and parking for 63 vehicles. Completion is slated for August 2024. PREMIER is actively exploring green building initiatives, including a solar array and hybrid rooftop units that use electricity instead of natural gas. The project team includes Cornerstone Architects Ltd. and SPACECO Inc. as civil engineer. Brett Kroner of Cushman & Wakefield brokered the sale of the site.
WAUCONDA, ILL. — Cherokee Manufacturing has leased a 50,000-square-foot industrial building located at 1225 Karl Court in Wauconda, a far north suburb of Chicago. The property features a clear height of 30 feet, six exterior docks and one drive-in doors. Brian Bocci of Entre Commercial Realty represented the undisclosed landlord, while Joe Karmin of Transwestern represented the tenant.
PHOENIX — A joint venture between locally based developer Creation and New York City-based investment firm Clarion Partners has acquired nearly 100 acres in Phoenix. Located on the northwest corner of the Loop 101 and Indian School Road, the site will be used to develop a $250 million industrial project known as Park Algodon. Park Algodon is a speculative industrial development that totals approximately 1.3 million square feet across 86 acres. The project will be built in two phases, with construction on the first phase slated to begin by the end of the year. The first phase comprises four buildings totaling 670,000 square feet. The second phase will include one 556,000-square-foot building. LGE Design Build is leading the construction, which is scheduled for completion in late 2025. Creation and Clarion Partners acquired the land from the John F. Long family in an off-market transaction. Greg Vogel and Max Xander of Land Advisors represented both parties in the deal. “This acquisition marks our first joint venture with Clarion Partners. We’re honored to work alongside them on this significant project, addressing a key gap in the West Phoenix industrial market,” says Grant Kingdon, principal of Creation’s Mountain West region. “Park Algodon serves as a catalyst to attract new …
HOUSTON — Clay Development is nearing completion of High Life Distribution Center, a 103,100-square-foot industrial project in northwest Houston. The facility sits on an 8.1-acre site at 15930 Tomball Parkway and is part of the 21-acre High Life Business Park, which Clay Development originally began working on in 2010. Building features include 32-foot clear heights, 27 dock doors, two drive-in doors, 2,600 square feet of office space and 61 car parking spots. The building is expected to be ready for occupancy by the end of the year.
LINDEN, N.J. — NAI DiLeo-Bram has arranged the $21 million sale of a 67,355-square-foot warehouse in the Northern New Jersey community of Linden. The facility at 1900 Lower Road is located adjacent to an Amazon fulfillment center and has housed the operations of electrical and industrial distribution company Turtle & Hughes since its original construction in 1960. Christopher Galiano of NAI DiLeo-Bram represented the buyer, Service Truck Tire Center, which plans to occupy the property and implement a value-add program, in the deal.
CARLSBAD, CALIF. — A joint venture between Harbor Associates and F&F Capital Group has acquired two industrial buildings at 5801 and 5807 Van Allen Way in Carlsbad, approximately 30 miles north of San Diego. An undisclosed seller sold the portfolio for $21.2 million, or $208 per square foot. Situated within Carlsbad Research Center, the 102,360-square-foot portfolio features passive solar cooling with operable windows, two dock-high doors, three grade-level doors and street frontage along Faraday Avenue. The sale included a leaseback with the seller at 5807 Van Allen Way. The buyers will market 5801 Van Allen Way to traditional industrial and life science users. Dennis Visser and Matt Pourcho of CBRE advised the seller in the deal.
WHITE PLAINS, N.Y. — Fleet Pump & Service Group has signed a full-building, 31,255-square-foot industrial lease renewal at 455 Knollwood Road in White Plains, a northern suburb of Manhattan. Rick Rakow of Rakow Commercial Realty Group represented the tenant in the lease negotiations. Josh Gopan and Sean Heneghan represented the landlord, Simone Development, on an internal basis.