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Industrial

DevelopmentIndustrialSoutheastTennessee

Griffin Partners Underway on 2 MSF Industrial Project in Metro Nashville

by John Nelson

LEBANON, TENN. — Texas-based Griffin Partners is underway on the development of a 2 million-square-foot industrial project in Lebanon, roughly 30 miles east of Nashville. Dubbed Earhart Industrial Park, the property will comprise two large speculative warehouses. The first warehouse will total 863,573 square feet and feature 367 car parking spaces and 196 trailer parking spaces. Totaling nearly 1.2 million square feet, the second building will include 448 car parking spaces and 284 trailer spaces. Both warehouses will have depths of 640 feet and clear heights of 40 feet. Melissa Alexander, W.B. Scoggin, Casey Flannery and Warren Snowdon of Foundry Commercial’s Industrial Services team will handle leasing at the development, which is scheduled for delivery in the third quarter of 2024.

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AcquisitionsGeorgiaSelf-StorageSoutheast

CBRE Brokers $43.6M Sale of Self-Storage Portfolio in Metro Atlanta

by John Nelson

LAWRENCEVILLE AND LILBURN, GA. — CBRE’s Self Storage Advisory Group has brokered the $43.6 million sale of a portfolio comprising three self-storage properties within metro Atlanta’s Gwinnett County. Located at 2600 Lawrenceville Highway and 1475 Grayson Highway in Lawrenceville and 3950 Five Forks Trickum Road in Lilburn, the properties total 242,500 square feet and 1,912 units. The occupancy rate was 94 percent at the time of sale. CBRE represented the seller, Gwinnett Self Storage, in the transaction. Wentworth Property Co. acquired the portfolio.

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Sunrise-Commerce-Center-Round-Rock
DevelopmentIndustrialTexas

IDI Logistics Breaks Ground on 465,786 SF Spec Industrial Project in Round Rock, Texas

by Taylor Williams

ROUND ROCK, TEXAS — Developer IDI Logistics has broken ground on Sunrise Commerce Center, a 465,786-square-foot speculative industrial project in the northern Austin suburb of Round Rock. The development will consist of five buildings that will be constructed in phases on a 37-acre site. Phase I will feature three rear-load buildings that will range in size from 59,274 to 175,170 square feet and are expected to be complete before the end of the year. Other project partners include 5G Studio Collaborative, Pacheco Koch (civil engineer), Adolfson & Peterson Construction and Stream Realty Partners (leasing agent).

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 19,386 SF Industrial Lease in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Lee & Associates has negotiated a 19,386-square-foot industrial lease at 3520 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2003 and totals 64,500 square feet. Taylor Stell of Lee & Associates represented the tenant, HVAC equipment supplier Timberlake & Dickson, in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund XI.

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AcquisitionsCaliforniaIndustrialWestern

Partners Capital Purchases Five-Building Industrial Portfolio in Carson, California

by John Nelson

CARSON, CALIF. — Partners Capital has purchased a five-building industrial portfolio in Carson, a city 17 miles south of Los Angeles. The portfolio contains five buildings for a total of 38,152 square feet. Known as Carson Business Park, the asset is located on a two-acre site at 401 to 409 Gardena Blvd. The park was fully leased at the time of sale to 16 unique tenants with a weighted average lease term of about 0.8 years. In-place rents are about 61 percent below market rates. Scott Schumacher, Aaron Banks, Kevin Shannon, Andrew Briner and Anthony Muhlstein of Newmark represented the seller, an entity doing business as Carson Five LLC, in the transaction. The seller and sales price were not disclosed.

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DevelopmentIndianaIndustrialMidwest

HSA Commercial Begins Development of Two Spec Warehouses Totaling 497,540 SF Near Indianapolis Airport

by Kristin Harlow

PLAINFIELD, IND. — HSA Commercial Real Estate has begun development of two speculative warehouses totaling 497,540 square feet in Plainfield near the Indianapolis International Airport. Named Terminus at Hobbs Station, the project is slated for completion in the fourth quarter of this year. Building 1 will total 233,618 square feet with 36 dock doors, three drive-in doors, 163 parking spots and 48 trailer parking stalls. Building 2 will span 263,922 square feet with 31 dock doors, three drive-in doors, 187 parking spaces and 30 trailer stalls. Both buildings will feature a clear height of 32 feet and 60-foot loading bays. The project team includes architect Curran Architecture, general contractor Meridian Design Build and civil engineer Kimley-Horn. Jimmy Cohoat and Andrea Hopper of Colliers will market the project for lease.

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AcquisitionsIndustrialMidwestWisconsin

Blue West Capital Brokers Sale of 46,862 SF Industrial Building in Appleton, Wisconsin

by Kristin Harlow

APPLETON, WIS. — Blue West Capital has brokered the sale of a single-tenant industrial building totaling 46,862 square feet in Appleton for an undisclosed price. Located at 3009 N. Zuehlke Drive, the property is fully leased to Hajoca Corp., which operates as Able Distribution at this location. The tenant is a wholesale distributor of plumbing, heating and cooling, pool and industrial supplies. Carly Kelly of Blue West Capital represented the buyer, a private real estate investment fund based in the Midwest. A Wisconsin-based real estate company was the seller.

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DevelopmentIndustrialMidwestNebraska

Darland Breaks Ground on 408,332 SF Spec Warehouse in Gretna, Nebraska

by Kristin Harlow

GRETNA, NEB. — Darland Construction Co. has broken ground on a 408,332-square-foot speculative warehouse near the Nebraska Crossing Outlets in Gretna, about 20 miles southwest of Omaha. NewStreet Properties is the developer and plans to build the larger Gretna Logistics Park, which will feature nearly 2 million square feet upon full build-out. The first warehouse will feature a clear height of 36 feet, 41 docks and four drive-in doors. Completion of the building is slated for March 2024. Cushman & Wakefield/Lund Co. is handling leasing for the new development.

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DevelopmentIndustrialTexas

Brennan Investment Group to Develop 157,300 SF Industrial Project in North Houston

by Taylor Williams

HOUSTON — Chicago-based Brennan Investment Group will develop a 157,300-square-foot industrial project on a 10.8-acre site at 500 N. Sam Houston Parkway W in North Houston. The rear-load building, which can support a single user or multiple tenants, will feature 32-foot clear heights, an ESFR sprinkler system and ample trailer parking. Completion is slated for the third quarter of 2024.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 41,832 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lee & Associates has negotiated a 41,832-square-foot industrial lease at 2101 Terminal Road in Fort Worth. Corbin Blount and Adam Graham of Lee & Associates represented the tenant, recycling and waste management firm Echo Fibers, in the lease negotiations. Britton New represented the landlord, GT Industrial Properties, on an internal basis. According to LoopNet Inc., the property was built on 10 acres in 1957 and features 20-foot clear heights and 140 car parking spaces.

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