Industrial

Newmark Arranges Joint Venture Equity for 173,680 SF Industrial Project in Irving

by Taylor Williams September 18, 2023

IRVING, TEXAS — Newmark has arranged an undisclosed amount of joint venture equity for TriStar Business Park, a 173,680-square-foot industrial project in Irving. The development will comprise two buildings with 32-foot clear heights, 100-plus trailer parking stalls, eight-plus dock-high doors, 130- to 140.5-foot truck court depths and ESFR sprinkler systems. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark arranged the joint venture equity between the investor, MBK Industrial Properties, and the sponsor, Hopewell Development.

September 18, 2023

Development Florida Industrial Southeast

Geis, Stonemont Financial Complete 500,000 SF Industrial Project in Fort Myers, Florida

by John Nelson September 18, 2023

FORT MYERS, FLA. — Geis Development has completed the construction of two identical industrial warehouses totaling 500,000 square feet at 16670 Oriole Road in Fort Myers. Dubbed Legacy 500K, the project was developed in partnership with Stonemont Financial Group. Each building totals 250,000 square feet and features 32-foot clear heights and ESFR sprinkler systems. The speculative warehouses can each accommodate tenant occupancies ranging from 37,000 square feet to 250,000 square feet. Clive Daniels, a furnishing and design company, will occupy 175,000 square feet of Building One, which features 21 dock doors and 39 trailer spaces.

September 18, 2023

Industrial Leasing Activity Texas

Monster Energy Signs 217,537 SF Industrial Lease in Fort Worth

by Taylor Williams September 18, 2023

FORT WORTH, TEXAS — Monster Energy Co. has signed a 217,537-square-foot industrial lease at Everman Trade Center, a four-building, 457,745-square-foot development in Fort Worth. Rick Ellison of Cushman & Wakefield represented the beveragemaker in the lease negotiations. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, Boston-based Cabot Properties.

September 18, 2023

Industrial Leasing Activity Office Texas

Noodoe Inc. to Open 8,381 SF Flex Facility in Northeast Dallas

by Taylor Williams September 18, 2023

DALLAS — Noodoe Inc., a Taiwanese provider of operating systems for electric vehicles, will open an 8,381-square-foot flex facility at 2600 Technology Drive in Plano. According to LoopNet Inc., the complex was built on 5.3 acres in 1998 and totals 82,545 square feet. Joe Santaularia of Bradford Commercial Real Estate Services represented Noodoe in the lease negotiations. Brian Pafford and Jared Laake, also with Bradford, represented the landlord.

September 18, 2023

Illinois Industrial Leasing Activity Lee & Associates Midwest

Lee & Associates Negotiates Two Industrial Leases Totaling 67,244 SF in Suburban Chicago

by Kristin Harlow September 18, 2023

ELMHURST AND ADDISON, ILL. — Lee & Associates has negotiated two industrial leases totaling 67,244 square feet in DuPage County. Woodland Group, a privately owned logistics, e-commerce and supply chain management company, signed a 38,475-square-foot lease renewal at 325 W. Lake St. in Elmhurst. Kenneth Franzese and John Cassidy of Lee & Associates of Illinois represented the tenant, while Tom Maher of Hamilton Partners represented the landlord. Bauderer Packaging signed a 28,769-square-foot lease at 775 Belden Ave. in Addison. The 200,907-square-foot property is now fully occupied. Jeff Janda and Michael Plumb of Lee & Associates of Illinois represented the landlord, Link Logistics. Rick Morris of Cresa represented the tenant.

September 18, 2023

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale-Leaseback of 66,786 SF Industrial Building in Morton Grove, Illinois

by Kristin Harlow September 18, 2023

MORTON GROVE, ILL. — Entre Commercial Realty has brokered the sale-leaseback of a 66,786-square-foot industrial building in Morton Grove, a northern suburb of Chicago. Located at 5940 Oakton St., the property features four docks, four drive-in doors and a special use permit for an auto repair and body shop. Denise Chaimovitz of Entre brokered the transaction. Service King will continue leasing nearly 28,000 square feet, and the seller, Lin-Mar, will lease back roughly 39,000 square feet. Venture One Real Estate was the buyer.

September 18, 2023

Acquisitions California Industrial Western

Stos Partners Sells 61,112 SF Industrial Complex in San Marcos, California for $12.5M

by Amy Works September 18, 2023

SAN MARCOS, CALIF. — Stos Partners has completed the disposition of an industrial complex at 1545-1565 La Mirada Drive in San Marcos. A private investor acquired the 3.3-acre property for $12.5 million. The 61,112-square-foot building features 21 grade-level, roll-up doors; secured outdoor storage areas; multiple ingress/egress points; and minimal first-floor office space. Stos Partners implemented a value-add and capital improvement program to the asset, which it originally acquired in 2021 for $8.8 million. The renovations included a new roof, parking lot, exterior paint, drought resistant landscaping and signage. Matt Pourcho, Anthony Delorenzo and Matt Harris of CBRE, along with Chris Roth, Rusty Williams and Jake Rubendell of Lee & Associates, represented Stos Partners. Brant Aberg and Bryce Aberg of Cushman & Wakefield represented the undisclosed buyer in the transaction.

September 18, 2023

Acquisitions Colorado Industrial Western

Marcus & Millichap Brokers Sale of 52,550 SF Industrial Property in Henderson, Colorado

by Amy Works September 18, 2023

HENDERSON, COLO. — Marcus & Millichap has arranged the sale of an industrial asset located at 8777 Brighton Road in Henderson. Terms of the transaction were not released. Situated on 3.5 acres, the three-building property offers a total of 52,550 square feet of industrial space with 11 units, solar panels and a standalone office facility. Alyssa Tomback and Thimy Moraitis of Marcus & Millichap’s Denver office represented the seller and buyer, both private investors, in the deal.

September 18, 2023

Development Industrial Loans South Carolina Southeast

Glenstar Secures $38.2M Construction Financing for Phase I of Industrial Park in Gaffney, South Carolina

by John Nelson September 15, 2023

GAFFNEY, S.C. — Glenstar has secured $38.2 million in construction financing for the development of the first phase of an industrial park in Gaffney. CrossHarbor Capital Partners provided the financing. Upon completion, the property, which is being developed by Glenstar and capital partner Creek Lane Capital, will total 3.6 million square feet across five buildings. The first phase of the park, which has been dubbed Cherokee Commerce Center 85 (CCC-85), will comprise a 555,520-square-foot building expandable to 1.3 million square feet. The building, known as 2A, will feature 232 dock doors, four drive-in doors, 540 parking spaces and 452 trailer spaces. Completion is scheduled for fall 2024. Subsequent phases of CCC-85 will include four additional warehouses totaling 1.7 million; 252,270; 278,200; and 211,640 square feet, respectively. The project team includes general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will manage leasing at the property on behalf of ownership.

September 15, 2023

Development Florida Industrial Southeast

BBX, PCCP to Develop 672,533 SF Logistics Campus in Delray Beach, Florida

by John Nelson September 15, 2023

DELRAY BEACH, FLA. — BBX Logistics Properties and PCCP have formed a joint venture to develop BBX Park at Delray, a 672,533-square-foot logistics campus in Delray Beach. The joint venture has acquired 40 acres along U.S. Highway 441 for the project. Upon completion, the property will feature three buildings, with the first phase comprising a 200,000-square-foot building. Construction is scheduled to begin in the first quarter of 2024. BBX has contributed $2.9 million to the joint venture and plans to expend an additional $2.5 million in development costs.

September 15, 2023

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