Monday, August 4, 2025
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Industrial

DevelopmentIndustrialSoutheastVirginia

Davis Cos., Lingerfelt to Build 325,500 SF Industrial Project Near Richmond

by John Nelson

RUTHER GLEN, VA. — The Davis Cos. and Lingerfelt have formed a joint venture to develop Carmel Church Business Center, a 325,500-square-foot industrial park situated 25 miles north of Richmond in Ruther Glen. The rear-load warehouse park will be located off the I-95 corridor and near the Port of Virginia. ARCO Design/Build Richmond, a division of ARCO DB Cos., the construction partner on the project, will break ground immediately. The joint venture expects to deliver Carmel Church in second-quarter 2024.

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AcquisitionsIllinoisIndustrialMidwest

Cawley Chicago Arranges Sale of 52-Acre Truck Terminal in Peru, Illinois

by Kristin Harlow

PERU, ILL. — Cawley Chicago has arranged the sale of a 52-acre truck terminal property in Peru, a city in Central Illinois. The sales price was undisclosed. Located at 5005 Plank Road, the property consists of 27 acres of heavy-duty parking, a terminal building with 146 docks, 10,000 square feet of office space and a 9,600-square-foot mechanic’s shop with six drive-through bays. Originally developed by Consolidated Freight, the asset has been in continuous operation by various less-than-truckload (LTL) companies. LTL is a ground transportation method that consolidates multiple shippers’ freight onto single semi-trucks. Jon Chamlin, Joshua Hearne and Reinier Pranger of Cawley Chicago brokered the sale, further details of which were not provided.

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ArizonaDevelopmentIndustrialWestern

Martens, Willmeng Break Ground on 723,508 SF Mission Park Industrial Project in Buckeye, Arizona

by Jeff Shaw

BUCKEYE, ARIZ. — Martens Development and Willmeng Construction have broken ground on Mission Park, a Class A industrial development in Buckeye.  Located at near I-10 and Perryville Road in the emerging Buckeye industrial submarket, the 723,508-square-foot project will comprise two buildings. The north building will feature 196,353 square feet with 32-foot clear heights. The south building will encompass 527,155 square feet with 40-foot clear heights.  Both are scheduled for completion in the second quarter of 2024. 

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ArizonaDevelopmentIndustrialWestern

Blue Vista, Kentwood Ventures Start Construction of KV Casa Grande Industrial Building in Arizona 

by Jeff Shaw

CASA GRANDE, ARIZ. — Blue Vista Capital Management and Kentwood Ventures have started construction of KV Casa Grande, a Class A industrial building in Casa Grande, southeast of Phoenix.  The 314,453-square-foot project will feature 32-foot clear heights, a 175-foot concrete truck court, 32 dock-high doors and 14 grade-level doors. The building will utilize tilt-up construction and a panelized thermoplastic polyolefin roofing, which improves energy efficiency by reflecting heat and is resistant to ultraviolet, ozone and chemical exposures.  The project is currently 15 percent pre-leased. It is scheduled for completion in summer 2024.

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AcquisitionsColoradoIndustrialWestern

Unique Properties Negotiates $3.1M Sale of Warehouse in Centennial, Colorado

by Jeff Shaw

CENTENNIAL, COLO. — Unique Properties, Inc. / TCN Worldwide has arranged the $3.1 million sale of a 12,600-square-foot warehouse in Centennial, approximately 15 miles south of Denver.  The nearly four-acre space is located at 14156 and 14105 E. Easter Ave. The site primarily consists of outdoor material, truck and equipment storage. Keesen Landscape, a commercial landscaping company, fully occupies the property on long-term, triple-net lease.  Brett MacDougall and Michael DeSantis and Hudson Cramer with Unique Properties, Inc. / TCN Worldwide represented the unnamed seller. The buyer was also not disclosed.

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IndustrialLeasing ActivityNew JerseyNortheast

Armstrong Logistics Signs 70,887 SF Industrial Lease in Edgewater, New Jersey

by Taylor Williams

EDGEWATER, N.J. — New Jersey-based Armstrong Logistics has signed a 70,887-square-foot industrial lease in the Northern New Jersey community of Edgewater. According to LoopNet Inc., the single-tenant property at 801 Bridgeboro Road was built in 1980 and features a clear height of 27 feet and six exterior dock doors. Scott Mertz of NAI Mertz represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

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IndustrialLeasing ActivityNew JerseyNortheast

CBRE Negotiates 35,235 SF Industrial Lease in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — CBRE has negotiated a 35,235-square-foot industrial lease in the Northern New Jersey community of Fairfield. The property at 10 Evans St. offers a clear height of 36 feet. Kate Granahan, Nicholas Klacik and Sean Dodd of CBRE represented the tenant, countertop and flooring products provider Caesarstone, in the lease negotiations. Kevin Dudley and Chad Hillyer, also with CBRE, represented the landlord, Stalwart Equities.

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AcquisitionsIndustrialNAINew JerseyNortheast

NAI Hanson Brokers Sale of 9,560 SF Industrial Flex Building in Denville, New Jersey

by Taylor Williams

DENVILLE, N.J. — NAI Hanson has brokered the sale of a 9,560-square-foot industrial flex building in the Northern New Jersey community of Denville. According to LoopNet Inc., the single-tenant property at 305 Palmer Road was built in 1981 and renovated in 1988. Joseph Vindigni of NAI Hanson represented the seller, Venturini Investments Group, in the deal. Charity Realty International represented the buyer, Groome Industrial Service Group.

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GeorgiaIndustrialLeasing ActivitySoutheast

Cushman & Wakefield Arranges 234,200 SF Industrial Lease in Locust Grove, Georgia

by John Nelson

LOCUST GROVE, GA. — Cushman & Wakefield has arranged a 234,200-square-foot lease at Gardner Logistics Park, an industrial development located at 381 Davis Lake Road in Locust Grove, roughly 40 miles southeast of Atlanta. Tenant NVH Korea, an acoustic and thermal management company, will occupy Building 2 at the property, which was built as part of Phase II of the three-phase development. James Phillpott, Ray Stache, Lisa Pittman and Helen Cauthen of Cushman & Wakefield represented the landlord, Indianapolis-based Scannell Properties, in the leasing negotiations. NVH Korea marks the sixth major tenant to lease space at Gardner Logistics Park.

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13806-N.-Unitec-Drive-Laredo
AcquisitionsIndustrialTexas

Stos. Partners Sells 79,883 SF Industrial Property in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — Stos. Partners, an investment firm based in Southern California, has sold a 79,883-square-foot industrial property in the Rio Grande Valley city of Laredo. The sales price was $9.1 million. Built in 2021 and renovated earlier this year, the property features 21 loading bays, 22-foot clear heights and 53 parking spaces. Anthony DeLorenzo, Bryan Johnson, Nick Williams and Elizabeth Bachhuber of CBRE represented Stos. Partners in the deal. Monica Rubio of Century 21 Olympian Commercial represented the unnamed buyer. The facility was fully leased at the time of sale to logistics firm Grupo Cargoquin.

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