HOUSTON — Apple (NASDAQ: AAPL) will open a 250,000-square-foot manufacturing facility in Houston. Apple plans to use its new Houston facility, which is expected to come on line in 2026, to manufacture servers that support the company’s artificial intelligence projects and programs. The development of the facility represents part of a larger initiative in which the Silicon Valley-based tech giant has pledged to invest $500 billion in U.S. innovation and technological infrastructure, creating about 20,000 new jobs in the process. That initiative also calls for the creation of a training academy in Michigan.
TEXARKANA, TEXAS — Expal USA, a weapons and armaments manufacturer, has renewed its lease at TexAmericas Center (TAC), a development in Texarkana that comprises more than 10,000 development-ready acres and 3.5 million square feet of commercial and industrial product and serves four states. Expal USA is a long-term tenant at TAC, occupying approximately 156,000 square feet across three campuses, and this renewal is for bunkers located on TAC’s 2,900-acre West Campus in unincorporated Bowie County. Eric Voyles of TAC directly negotiated the renewal with Expal USA.
DURHAM, N.C. — Welcome Group has signed four tenants to join the roster of the first phase at Welcome Venture Park, an industrial park underway in Durham. Phase I will total nearly 400,000 square feet upon completion, which is slated for the first quarter of this year. The new users include Mitsubishi Logistics, doing business as Cavalier Logistics (128,000 square feet); Food Bank of Central and Eastern North Carolina (64,000 square feet); and Great Day Improvements and Pep Move (20,400 square feet combined). Larry Lakins, Hunter Willard, Andrew Young and Shields Bennett of Colliers’ Raleigh office are handling the leasing for Welcome Venture Park. Randy Warren of RW2 Development Co. is steering the project’s development and management.
UXBRIDGE, MASS. — Boston-based investment firm Rockpoint has purchased a 607,000-square-foot industrial property in Uxbridge, located in southern-central Massachusetts, for $120 million. Completed in 2023, Uxbridge Distribution Center sits on 70 acres and features a clear height of 40 feet, 125 loading docks and four drive-in doors. The property was 73 percent leased at the time of sale, with an undisclosed medical equipment wholesaler serving as the anchor tenant via a 443,413-square-foot lease. Michael Restivo and David Coffman led a JLL team that represented the seller, a partnership between Scannell Properties and a fund advised by Crow Holdings Capital, in the transaction. Riaz Cassum and Andrew Gray, also with JLL, arranged a five-year, fixed-rate acquisition loan for the deal on behalf of Rockpoint. Affiliates of global private equity firm KKR provided the debt.
COLUMBUS, OHIO — Hillwood has selected Meridian Design Build to construct two Class A speculative industrial buildings at its Central Columbus Commerce 71 development in Columbus. The buildings will total 624,004 square feet and will be located on a 48-acre redevelopment site at the southwest corner of Windsor and Joyce avenues. Construction is underway at the project site. The team includes Red Architecture and civil engineer Kimley-Horn and Associates Inc. Joel Yakovac and Michael Linder of Colliers are marketing the development for lease.
HOUSTON — Houston-based Hines has recapitalized a portfolio of 14 self-storage facilities totaling approximately 9,700 units via new joint venture equity with the operator, CubeSmart. The properties collectively total more than 1.2 million square feet of net rentable space and are scattered across the Dallas-Fort Worth (DFW) metroplex. Aaron Swerdlin and Andrew Warin led the Newmark team that structured the recapitalization on behalf of Hines. CubeSmart is now the majority owner of the portfolio, though additional details of the transaction were not disclosed.
BAYTOWN, TEXAS — Marcus & Millichap has brokered the sale of a 6.1-acre industrial outdoor storage facility (IOS) in the eastern Houston suburb of Baytown. The building at 12825 Upland Way was completed in 2021 and was fully leased at the time of sale to EquipmentShare, a provider of construction solutions. Peter Bauman and Tivon Moffitt of Marcus & Millichap represented the seller, a REIT, in the deal. Nick Geaneotes and Derrick Dougherty of Marcus & Millichap procured the New York-based buyer. Both parties requested anonymity. Stephen Fillipo of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal through a national credit union.
FARMINGDALE, N.Y. — Chicago-based investment firm Venture One Real Estate has purchased a 50,043-square-foot industrial building in Farmingdale, located on Long Island. The building at 220 Sherwood Ave. features suites that range in size from 11,373 to 25,383 square feet, as well as four exterior docks, four drive-in doors and a 155-foot truck court. David Pennetta, Stephen Cadorette and Tom DeLuca of Cushman & Wakefield represented the undisclosed seller in the transaction.
DELRAY BEACH, FLA. — A joint venture between Altman Logistics Properties and PCCP has begun vertical construction of the first phase of Apex Logistics Park at Delray, an approximately 200,000-square-foot, Class A logistics building in Delray Beach. The first phase of the development is slated for completion in the second quarter, with an additional 472,000 square feet planned for a total of three industrial buildings. Spanning 40 acres, Apex Logistics Park is expected to include 36-foot ceiling heights, 215 parking spaces, 45 dock doors and direct access and frontage to US Highway 441. Additional sustainable elements of the property will feature R-19 roof insulation and solar-ready roofing, electric vehicle charging stations, indoor air quality enhancements, interior LED lighting and advanced exterior lighting control systems. Christopher Thomson and Matthew McAllister of Cushman & Wakefield will lead leasing efforts for the property. Altman Logistics Properties has several other projects underway across Florida, including plans to break ground on an approximately 202,000-square-foot industrial development in Lakeland and an estimated 182,000-square-foot warehouse logistics facility in Davie.
CRYSTAL LAKE, ILL. — Entre Commercial Realty has brokered the sale of a 17,200-square-foot industrial building located at 110 East St. in the Chicago suburb of Crystal Lake. The sales price was undisclosed. The freestanding property features a clear height of 18 feet, nine drive-in doors, ample parking and the potential for outside storage. The facility previously served as the headquarters of Fishstone Concrete Supply, a concrete product supplier. The buyer, RPM Building Solutions, plans to establish its new headquarters at the location. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre were the sole brokers in the transaction.