Industrial

DC Blox Breaks Ground on $1.2B Data Center Campus in Douglasville, Georgia

by John Nelson November 1, 2023

DOUGLASVILLE, GA. — Data center developer and operator DC Blox has broken ground on a $1.2 billion data center campus in Douglasville, about 22 miles west of Atlanta. Situated on a 55-acre site, the two-story data center campus will feature 12 data halls totaling 750,000 square feet. Tenants will have access to 180 megawatts of power and will be connected to DC Blox’s nearly 500-mile dark fiber route, which is slated for completion before the end of the year. The east-west fiber path will connect the company’s major hubs in Atlanta to its holdings in Augusta and on to its newly opened DC Blox Cable Landing Station in Myrtle Beach. Initial customer move-ins at the Douglasville campus is expected for third-quarter 2025. DC Blox is using tax incentives coordinated by Elevate Douglas Economic Partnership to help fund the development. The design-build team includes Evans General Contractors, DLB Associates, Bennett & Pless and Corgan, Thomas & Hutton.

November 1, 2023

Acquisitions Arizona Industrial Office Western

CBRE Negotiates $12.7M Sale of Arrowhead Ranch Business Park in Peoria, Arizona

by Amy Works November 1, 2023

PEORIA, ARIZ. — CBRE has arranged the $12.7 million sale of Arrowhead Ranch Business Park, located at 21461-21509 N. 78th Ave in the Phoenix suburb of Peoria. Pacifica Real Estate Group sold the asset to a California-based private buyer in a 1031 exchange. Situated on 9.5 acres, the six-building business park features 18 suites, each with its own private secured yard. The transaction included 11 of the 18 units within the park, totaling nearly 50,000 square feet. Geoffrey Turbow, Gary Cornish, Anthony DeLorenzo and Nick Williams of CBRE Investment Properties, alongside CBRE’s Evan Koplan and Serena Wedlich, represented the seller in the transaction.

November 1, 2023

Acquisitions Industrial Self-Storage Washington Western

Marcus & Millichap Arranges Sale of 20,714 SF ABC Mini Storage in Aberdeen, Washington

by Amy Works November 1, 2023

ABERDEEN, WASH. — Marcus & Millichap has negotiated the sale of ABC Mini Storage, a self-storage facility at 6221 Olympic Highway in Aberdeen, a coastal city approximately 100 miles southwest of Seattle. Two limited liability companies traded the asset for $2.2 million. Built in 1997, the 20,714-square-foot property features 172 units. Christopher Secreto of Marcus & Millichap represented the seller and buyer in the deal.

November 1, 2023

Industrial Leasing Activity Texas

Circle Clothing Signs 37,000 SF Industrial Lease in Sugar Land, Texas

by Taylor Williams November 1, 2023

SUGAR LAND, TEXAS — Circle Clothing has signed a 37,000-square-foot industrial lease in the southwestern Houston suburb of Sugar Land. The textile manufacturer is taking space at Sugar Land Corporate Center, an 88,200-square-foot building that is situated within a larger master-planned development. Jim Pratt of Colliers represented the tenant in the lease negotiations. Jarret Venghaus and Jordan Raney of JLL represented the landlord, Prologis.

November 1, 2023

Acquisitions Industrial Texas

Apricus Realty Capital Buys 31,750 SF Industrial Outdoor Storage Facility in Houston

by Taylor Williams November 1, 2023

HOUSTON — Dallas-based Apricus Realty Capital has purchased a 31,750-square-foot industrial outdoor storage facility in northwest Houston. The site at 12400-12402 Taylor Road spans five acres and houses two buildings, as well as a paved concrete yard for construction materials storage and distribution. Apricus acquired the property in a joint venture with Baltimore-based ABR Capital Partners. The seller and sales price were not disclosed.

November 1, 2023

Industrial Loans New Jersey Northeast

Affinius Capital Provides $102M Construction Loan for Industrial Project Near Philadelphia

by Taylor Williams November 1, 2023

PALMYRA TOWNSHIP, N.J. — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, has provided a $102 million construction loan for a 700,000-square-foot industrial project near Philadelphia. The project represents Phase II of Tac-Pal Logistics Center in Palmyra Township, N.J. Building features will include a cross-dock configuration, a clear height of 40 feet, four drive-up ramps and parking for 438 cars and 236 trailers. John Rose and Chad Orcutt of JLL arranged the debt on behalf of the developer, a fund advised by Crow Holdings Capital. Phase I of Tac-Pal Logistics Center, which also consisted of about 700,000 square feet, was completed earlier this year.

November 1, 2023

Industrial New Jersey Northeast Pennsylvania

JLL Arranges Recapitalization of 630,822 SF Industrial Portfolio in New Jersey, Pennsylvania

by Taylor Williams November 1, 2023

MORRISTOWN, N.J. — JLL has arranged the recapitalization of a portfolio of 16 industrial buildings totaling 630,822 square feet in New Jersey and Pennsylvania. The specific locations were not disclosed. The portfolio was 99 percent leased at the time of the recapitalization to tenants in industries such as logistics, food and beverage, technology and warehousing. Marc Duval, Jordan Avanzato, Nicholas Stefans, Jason Lundy and Jose Cruz of JLL arranged new joint venture equity with an undisclosed partner on behalf of the sponsor, New Jersey-based owner-operator Denholtz Properties.

November 1, 2023

Industrial Leasing Activity Northeast Pennsylvania

Westinghouse to Open 87,420 SF Industrial Facility Near Pittsburgh, Create 40 Jobs

by Taylor Williams November 1, 2023

ETNA, PA. — Electric products and services provider Westinghouse will open an 87,420-square-foot industrial facility in Etna, located northeast of downtown Pittsburgh, a move that will add about 40 jobs and $18 million in capital investment to the local economy. Westinghouse will use the space at 51 Bridge St. to manufacture various electrical components and advance clean energy initiatives. New York-based private equity firm The AM Group owns the building. Construction began earlier this year and is slated for a first-quarter 2024 completion.

November 1, 2023

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of Two Industrial Facilities Totaling 897,840 SF in Romeoville, Illinois

by Kristin Harlow November 1, 2023

ROMEOVILLE, ILL. — Colliers has brokered the sale of two recently constructed industrial facilities totaling 897,840 square feet in the Chicago suburb of Romeoville. The sales price was undisclosed. The buildings are located in the Weber 55 Logistics Park at the corner of Weber and Taylor roads. One of the buildings totals 627,840 square feet and is leased to RJW Logistics, while the other property spans 270,000 square feet and was vacant at the time of sale. Jeff Devine and Steve Disse of Colliers represented the seller, Molto Properties. The buyer was an institutional investor advised by Principal Asset Management.

November 1, 2023

Development Industrial Loans Washington Western

PCCP Provides $252.3M Construction Financing for 2.2 MSF Industrial Project in Fredrickson, Washington

by Amy Works October 31, 2023

FREDRICKSON, WASH. — PCCP has provided $252.3 million of construction financing to a joint venture between Panattoni Development Co. and a real estate fund advised by Crow Holdings Capital. The funds will be used for the development of three industrial buildings in Fredrickson, approximately 40 miles south of downtown Seattle. Eastdil Secured arranged the construction financing on behalf of the borrowers. Totaling 2.2 million square feet, the cross-docked distribution buildings will feature 40-foot clear heights. The project includes two speculative buildings, Building G (611,206 square feet) and Building D (753,069 square feet). It also features a build-to-suit Building E (782,875 square feet), which a national tool and equipment retailer has already reserved. The three warehouse/distribution buildings are slated for delivery in summer 2024. The facilities are the first phase of FRED310, a 310-acre, five-building industrial parking totaling 3.7 million square feet at Canyon Road East and E. 176th St.

October 31, 2023

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