GILBERT, ARIZ. — JLL Capital Markets has arranged $12 million in construction financing for ATLAS Germann, an industrial development in Gilbert. The borrowers are ATLAS and OakPoint. Jason Carlos, Jarrod Howard, Steve Larsen and Kyle Westfall of JLL Capital Markets secured the five-year, fixed-rate loan from a regional bank. Snack-food manufacturer Frito-Lay Inc., a subsidiary of PepsiCo, will fully occupy the 60,500-square-foot property that is situated on 8.2 acres.
SAN ANTONIO — Denver-based owner-operator H5 Data Centers will undertake an expansion project at its San Antonio campus, which is located at 100 Taylor St. in the downtown area. The expansion will add turnkey colocation space that can support an additional 340 cabinets and up to 1.5 megawatts of additional power capacity. A construction timeline was not disclosed. The campus currently consists of two buildings totaling 85,000 square feet.
DALLAS — Partners Real Estate has negotiated a 13,410-square-foot industrial lease in the Dallas Design District. According to LoopNet Inc., the single-tenant property at 2050-2062 Irving Blvd. was built in 1952 and renovated earlier this year. Building features include 14-foot clear heights and two drive-in bays. Hanes Chatham Jr. of Partners represented the landlord, an entity doing business as 2050 Irving Blvd., in the lease negotiations. DeAnna Green of Nydan Group represented the tenant, The Blueprint University.
FARMERS BRANCH, TEXAS — Toshiba America Business Solutions Inc. has renewed its lease for 9,569 square feet of industrial flex space at 4350 Spring Valley Road in the northern Dallas metro of Farmers Branch. Jason Finch of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SB Tech Center LLC, in the lease negotiations. Brooke Benedict of Colliers represented the tenant.
SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 94,490-square-foot industrial facility in the Chicago suburb of Schaumburg for an undisclosed price. Constructed in 1988, the building is located at 2050 Mitchell Blvd. adjacent to Schaumburg Regional Airport. Terry Grapenthin, Michael Plumb and Ryan Earley of Lee & Associates represented the undisclosed seller. Nick Krejci and Noel Liston of Core Industrial Realty represented the buyer, a manufacturing user.
HILLIARD, OHIO — Comunale Properties has acquired a 19,671-square-foot industrial building located on Parkway Lane in Hilliard, a northwest suburb of Columbus. The purchase price was undisclosed. The seller will lease back a portion of the property’s warehouse space on a short-term basis while relocating its operations. Immediately upon acquisition, Comunale leased the remainder of the building to a national mechanical, fire protection and HVAC services company that will eventually occupy the entire premises. Situated on three acres, the building features a clear height of 24 feet. Ray Boll and Jeff Boll of RJ Boll Realty represented the undisclosed seller.
CARLSTADT, N.J. — Seagis Property Group has purchased a 30,058-square-foot industrial building within Gotham Industrial Park in the Northern New Jersey community of Carlstadt. The building, which was vacant at the time of sale, sits on 1.5 acres and features a clear height of 16 feet, four loading docks and roughly 1,500 square feet of office space. Leo Josephs and Joshua Meisner of Leo Josephs & Co. represented Seagis, which plans to implement a value-add program, in the transaction. The seller and sales price were not disclosed.
CHICAGO — CBRE has arranged the sale of a two-building, 1.1 million-square-foot industrial campus located at 4700-4800 Proviso Drive and 5000 Proviso Drive in Chicago. The properties are located in the Melrose Park neighborhood on the west side of the city. The site is located roughly 10 miles from O’Hare International Airport and is also near the Union Pacific Intermodal railway and the interchange of interstates 290 and 294. According to data from CBRE, the O’Hare submarket had an industrial vacancy rate of 2.4 percent as of the third quarter. Houston-based Hines purchased the campus for an undisclosed price. Zach Graham, Michael Caprile and Joe Horrigan of CBRE represented the unnamed seller in the transaction. The campus was fully leased at the time of sale, with a single logistics user that has been in place for approximately 20 years occupying each of the three spaces. Building features include 32- and 35-foot clear heights, one dock per 5,000 square feet of space, 159 trailer parking stalls and the capacity for dual rail loading. Hines plans to implement a value-add program to make improvements at the property. “This transaction represented a compelling opportunity given its strategic infill location in the densely populated …
Savannah’s industrial real estate market is experiencing exceptional growth and now totals 113.7 million square feet, of which 98.2 million square feet (86 percent) is dedicated to bulk distribution (tracking facilities sized 100,000 square feet or larger). Year-to-date net absorption as of the end of the second quarter was 6.3 million square feet, which suggests another solid year ahead. Additionally, the vacancy rate remains low at 4.6 percent, a historically favorable level. The development community has been quick to respond to robust demand, delivering 19 buildings totaling nearly 10 million square feet in the second quarter, with the majority of it already leased. The market is primed for additional growth, with a significant amount of new construction underway. More than 16 million square feet is currently under construction, not including the Hyundai plant that will span 17 million square feet itself, along with related supplier facilities covering an additional 1.9 million square feet as of this writing. The $5.5 billion Hyundai plant will employ 8,100 people and be the company’s first dedicated electric vehicle (EV) mass-production plant. It is expected to begin full production in early 2025 and will produce over 300,000 vehicles per year. The effects of Hyundai on …
SOUTHLAKE, TEXAS — A partnership between Constellation Real Estate Partners and Northwestern Mutual has acquired 33.7 acres in Southlake, located just outside the Dallas-Fort Worth International Airport campus, for the development of a 546,330-square-foot industrial project. Designed by Dallas-based Meinhardt & Associates, Constellation Mustang Crossing will comprise four buildings that will range in size from 102,957 to 188,132 square feet. Building features will include 28- to 32-foot clear heights, ESFR sprinkler systems and LED lighting. Joey Tyner and Tom Dosch of Dosch Marshall Real Estate represented Constellation in its purchase of the land. JLL will market the project for lease. Construction is scheduled to begin in the first quarter of next year and to last about 12 months.
