DALLAS — Colliers has arranged the sale of a 176,960-square-foot industrial commissary and cold storage building in Dallas that is leased to Atlanta-based pizza delivery giant Papa Johns (NASDAQ: PZZA). The building features climate-controlled clearance heights, multiple dock and drive-in doors and office space. Christian Rahe, Joe Wiles, Michael Brewster and Daniel Taylor of Colliers represented the undisclosed seller in the transaction. The buyer was a group of institutional investors advised by J.P. Morgan Asset Management. The property sold for $47 million as part of a deal that included another Papa John’s cold storage facility in Orlando.
DALLAS — Grey Swan I, a general partner equity fund backed by North Texas-based development and investment firm M2G Ventures, has purchased a 120,000-square-foot industrial building in southwest Dallas. The single-tenant building at 4130 Platinum Way was fully leased at the time of sale to an unnamed tenant. The seller and sales price were also not disclosed.
HOUSTON — ATX Auctions has signed a 14,746-square-foot industrial lease in northwest Houston. The building at 2700 Bingle Road was originally constructed in 1976. John Harris, Jacob Summers and Stephen Hazen of locally based brokerage firm Oxford Partners represented ATX Auctions in the lease negotiations. Scott Wilkerson of Garver Real Estate represented the landlord on an internal basis.
NORTH BERGEN, N.J. — JLL has arranged a $28 million permanent loan for a 215,000-square-foot industrial property located in the Northern New Jersey community of North Bergen. Originally built in the 1960s and renovated in the early 2000s, the shallow-bay building was 96 percent leased to seven tenants at the time of the loan closing. Building features include 16- to 22-foot clear heights, 14 dock doors, five drive-in doors and 81 car parking spaces. Jon Mikula, Max Custer and John Cumming arranged the fixed-rate loan through Nuveen Real Estate on behalf of the undisclosed borrower.
STAMFORD, CONN. — Osborne & Little has signed a 14,930-square-foot lease renewal at an industrial flex building in the southern coastal Connecticut city of Stamford. The fabric and wall covering manufacturer will continue to house its headquarters at 90 Commerce Road. John Hannigan of locally based brokerage firm Choyce Peterson represented the tenant in the lease negotiations. The landlord, Stampar Associates, was self-represented.
JEDBURG, S.C. — Rushmark Properties has obtained a construction loan for the development of Berkeley Commerce Center, a 775,000-square-foot industrial park in the Charleston suburb of Jedburg. Site work is currently underway, and Rushmark plans to break ground on the first of the property’s two buildings this fall. JLL Capital Markets arranged an undisclosed amount of construction financing through United Bank for the development. The first building at Berkeley Commerce Center will span 505,440 square feet and include 2,500 square feet of office space, cross-dock configuration and 36-foot clear heights. At 267,840 square feet, the second building will feature 1,200 square feet of office space, rear-load configuration and 32-foot clear heights. Rushmark expects to deliver the first two buildings in fourth-quarter 2025. The site, which fronts I-26, has the potential for three additional buildings that would bring the development to a total of 2.6 million square feet, according to Rushmark. The project team includes architect LS3P Associates, civil engineer Thomas & Hutton and general contractor HITT Contracting. Lee Allen, Kevin Coats and Tyler Smith of JLL will lead leasing and marketing efforts.
RALEIGH, N.C. — JLL Capital Markets has brokered the sale of 309 Chapanoke Road, an infill, 94,368-square-foot logistics facility in Raleigh. Josh McArdle, Pete Pittroff, Dave Andrews, Michael Scarnato and Michael Lewis of JLL represented the seller, Beacon Properties, in the transaction. NorthBridge Partners acquired the asset for an undisclosed price. The property is fully leased to the State of North Carolina and serves as a mission-critical mail sortation and delivery center.
SHAKOPEE, MINN. — GN, a hearing, audio, video and gaming gear solutions company, has unveiled plans to relocate its North American hearing headquarters from Bloomington to Shakopee in 2025. The company will occupy the former Shutterfly Midwest production facility along Highway 169. GN finalized a 12-year lease and has begun planning for renovation and construction to turn the site into a 218,437-square-foot hearing aid manufacturing, repair and shipping facility. The property will also house sales, customer service and marketing support for the company’s lead hearing aid brand, ReSound, as well as professional support services for GN’s other hearing aid brands Jabra Enhance and Beltone. The company currently employs approximately 550 people in Minnesota, more than half in manufacturing jobs. GN, with global headquarters in Copenhagen, has occupied the Bloomington facility at 8001 Bloomington Freeway East since 2001. The new lease represents a 79 percent increase in space from the Bloomington location. Andrew Odney and Andrew Heieie of Colliers represented GN in the lease. Built in 2014, the Shakopee property is situated on more than 22 acres at 5005 Dean Lakes Blvd. The building features 160,000 square feet of production and warehouse space along with approximately 58,000 square feet of office …
The Louisville industrial market has simmered at a slow and steady pace during 2024. Continued uncertainty with debt markets, inflation and the upcoming elections have placed developers on the sidelines, and occupiers in a holding pattern. Despite how the market feels today, Louisville remains poised for a comeback. A brief overview shows how and why the Louisville market is in the position it is today, and what to expect beyond 2024. The past five years reveal a compelling story, one that developers, occupiers and investors alike have come to understand as they seek to develop, lease or own real estate in the Derby City. Driving much of this development and occupier activity in Louisville is the presence of the UPS Worldport, two Ford manufacturing plants, Haier’s GE Appliance Park and other manufacturers that keep suppliers, third-party logistics firms and e-commerce companies jockeying for space. Louisville’s central location on the I-65 corridor and proximity to two-thirds of the U.S. population are also key reasons the market continues to grow as a hub for logistics, e-commerce and manufacturing. The market saw tremendous growth over the past five years, assisted by the space grab during COVID. Since 2019 bulk inventory experienced growth of …
HOUSTON — Partners Real Estate has negotiated a 32,596-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant building at 14490 Wagg Way Road was originally constructed in 2014. Travis Land and Braedon Emde of Partners represented the landlord, United Equities, in the lease negotiations. Caleb Lawson of Flatrock Cos. represented the tenant, 2911 Fabrication.