FAIRFIELD, N.J. — Cushman & Wakefield has negotiated a 22,523-square-foot industrial lease in the Northern New Jersey community of Fairfield. The recently renovated building at 123 Lehigh Drive features a clear height of 24 feet and two dock-high doors. Bill Waxman, Morgan Nitti, Jeff Volpi, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the landlord, The Stro Cos., in the lease negotiations. Brian Wilson of Resource Realty represented the tenant, Moda Foods. The deal brings the building to full occupancy.
HOUSTON — New York-based global investment firm GTIS Partners has begun construction on Port 225 Commerce Center, a 484,000-square-foot industrial project located near Port Houston in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled for a fall completion. Other project partners include Angler Construction, Powers Brown Architecture, Langan Engineering and Cushman & Wakefield as the leasing agent.
GLENDALE AND SUN VALLEY, CALIF. — Palatine Capital Partners has acquired two industrial parks in the San Fernando Valley. A private investor sold the multi-tenant assets for $30.6 million. The properties are a 46,335-square-foot building on 1.9 acres at 820 Thompson Ave. in Glendale and a 98,295-square-foot facility on 2.8 acres at 7764-7766 San Fernando Road in Sun Valley. Both industrial parks are currently 100 percent occupied, with some rents below market. The buyer plans to add value during future lease-ups as new tenants come in. Kelly Betpolice of Kidder Mathews represented the buyer in the transaction.
RENTON, WASH. — Marcus & Millichap has arranged the sale of a 12,000-square-foot industrial building at 61 Shattuck Ave. South in Renton, a suburb southeast of Seattle. A limited liability company sold the asset to an undisclosed buyer for $2.3 million. Anne Goldman and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal. According to the firm, the transaction represents a record price per square foot for 1970s vintage construction in the submarket.
EL PASO, TEXAS — Dallas-based developer Provident Realty Advisors has delivered Gateway Logistics Park, a 308,270-square-foot industrial project in El Paso. The site is located 13.5 miles from El Paso International Airport and 7.5 miles from the Ysleta-Zaragoza port of entry. Building features include 32-foot clear heights, 190-foot truck court depths, 67 dock-high doors, two drive-in ramps, 93 trailer parking spaces and 2,500 square feet of office space. CBRE is the leasing agent for Gateway Logistics Park.
LINCOLNTON, N.C. — Crescent Communities is underway on the construction of AXIAL Midway 321, a new industrial project situated within Lincoln County Industrial Park in Lincolnton, approximately 35 miles northwest of Charlotte. Upon completion, the development will comprise a 175,000-square-foot rear-load building, as well as 133 car parking spaces and 17 trailer parking spaces on a 25-acre lot. The building will feature 32-foot clear heights, 50 dock-high doors, 2,800 square feet of speculative office space, LED warehouse lighting and multiple pit levelers. The project team includes general contractor Myers & Chapman, DMA Architecture, engineer Thomas & Hutton and Carter Bank. Matt Treble and Fermin Deoca of Cushman & Wakefield will manage leasing at the property. A timeline for construction was not disclosed.
HOUSTON — Landtech Inc. has signed a 24,249-square-foot industrial lease in West Houston. The provider of surveying services is relocating from its current space in the Timbergrove area to the building at 1315 W. Sam Houston Parkway N. Dan Boyles and Brent Bishop of Partners Real Estate represented the tenant in the lease negotiations. Andy Havel of Metroway Commercial Realty represented the undisclosed landlord.
DENVER — Malman Commercial Real Estate has arranged the sale of a 6,272-square-foot industrial property located at 4940 E. 39th Ave. in Denver. American Financial Group Corp. sold the asset to James R. Jones for $1.1 million. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.
MEQUON, WIS. — Kleen Test Products Corp. has signed a 30,000-square-foot industrial lease at 1000 W. Donges Bay in Mequon, a northern suburb of Milwaukee. Paul McBride and John Davis of Founders 3 Real Estate Services represented the owner, Stern Real Estate LLC. The tenant develops, manufactures and packages items such as wet wipes and dryer sheets.
PHOENIX — Baker Development has started the final phase of demolition on a 72-acre industrial site in Phoenix, as part of a redevelopment of the property. Beginning in the 1960s, the site housed a Motorola semiconductor manufacturing campus. Work has been underway at the site for three years, and Baker has delivered one of four parcels to a data center user. Daniel J. Slack, president and COO of Baker, says that the developer is also “in discussions with other well-known companies attracted to the site’s substation-level power, its Foreign Trade Zone potential, as well as access to nearby housing, diverse labor pool and recreational amenities.”