BENSENVILLE, ILL. — Dayton Street Partners (DSP) has acquired an industrial property situated on 11 acres at 700 Larsen Lane in the Chicago suburb of Bensenville. The purchase price was undisclosed. The property features a 37-door truck terminal, two truck maintenance facilities and a warehouse with one acre of outdoor storage. The asset, which is located directly across the street from the Chicago O’Hare International Airport, was 85 percent leased at the time of sale. Jack Brennan of CBRE represented the seller, a private investor, and will market the property for lease. DSP will commence a multi-million-dollar renovation of the terminal in November.
SANTA FE SPRINGS, CALIF. — Equipment Manufacturing Co. has completed the sale of an industrial asset, located at 14930 Marquardt Ave. in Santa Fe Springs, just southeast of Los Angeles. Fortress Investment Group acquired the property for $10.5 million. Equipment Manufacturing Co. vacated the 31,373-square-foot heavy manufacturing facility, which was built in 1969. The new owner plans to renovate and reposition the property, which offers a large truck parking area and approximately one acre of excess land. Jason DuFault of KW Commercial represented the seller, while Phillip DeRousse of Lee & Associates represented the buyer in the deal.
GIBSONTON, FLA. — Trammell Crow Co. and STAG Industrial have begun construction on a two-building industrial development in metro Tampa totaling 300,000 square feet. The two single-story warehouses will be located at 100 and 200 Powell Road in Gibsonton, about 15 miles south of downtown Tampa. The warehouse at 100 Powell will span 160,000 square feet, and the facility at 200 Powell will total 140,000 square feet. The warehouses will be situated on separate sites spanning 18 acres and 12 acres, respectively, and will feature move-in ready office space, a truck court with ample trailer parking and 32-foot clear heights. Trammell Crow Co. and STAG plan to deliver the property in third-quarter 2024. CBRE’s Tampa office will lease the development on behalf of ownership. The design-build team includes architect of record C4 Architecture, general contractor Welbro Building Corp., civil engineer Atwell and LEED consultant DMS. Kris Courier and Gary Bauler of CBRE, along with Julia Silva of JLL, assisted in the deal.
DALLAS — Lee & Associates has negotiated the sale of a 50,138-square-foot industrial building in northwest Dallas. According to LoopNet Inc., the building at 11126 Shady Trail was built on 2.8 acres in 1978 and features 12-foot clear heights. Stephen Williamson of Lee & Associates represented the buyer, Boston-based investment firm Longpoint Realty Partners, in the transaction. Vaquero Ventures Management sold the building for an undisclosed price.
DALLAS — Locally based investment firm Apricus Realty Capital has purchased an 8,800-square-foot industrial outdoor storage facility located at 11600 C.F. Hawn Freeway in southeast Dallas. The two-building, four-acre site serves as a crane rental and maintenance facility. Matt Haley and Cort Martin represented Apricus Realty Capital in the transaction on an internal basis. The seller and sales price were not disclosed.
COMMACK, N.Y. — PGA Tour Superstore has opened a 39,225-square-foot shop at Mayfair Shopping Center, a 220,000-square-foot development located in the Long Island community of Commack. Hugh Scullin of regional brokerage firm Katz & Associates represented PGA Tour Superstore in the lease negotiations. E.J. Moawad of Levin Management Corp. represented the undisclosed landlord. The store will be the retailer’s fourth in New York.
MONTGOMERY, ILL. — DSI Group has broken ground on a 500,000-square-foot industrial facility for Ravago in Montgomery, a far west suburb of Chicago. The project will anchor the 200-acre Karis Center for Commerce. Founded in 1961 in Belgium, Ravago is a polymer and chemical distribution company. The new facility will support Ravago’s polymer distribution activities in greater Chicago and North America. The building will feature a clear height of 40 feet, 22 dock positions, four drive-in doors and 12,776 square feet of office space. The site offers 268 railcar positions, and 207 future railcar positions have been earmarked for Ravago’s project. Karis Industrial is the owner and developer of Karis Center for Commerce.
PLAINFIELD, IND. — Smart Warehousing has signed a 190,440-square-foot industrial lease renewal at 909 Whitaker Road in the Indianapolis suburb of Plainfield. John Sharpe, Steve Beals and Richard King of Lee & Associates represented the tenant, which is a warehousing, fulfillment and logistics solutions company headquartered in Kansas City. Brian Seitz of JLL represented the owner, Nuveen Industrial. The transaction marks Smart Warehousing’s second renewal on the space, which is located adjacent to the Indianapolis International Airport and near I-70.
GLENDALE, ARIZ. — LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has broken ground on Luke Field, a $515 million industrial park in the Phoenix suburb of Glendale. The 140-acre property is bordered by namesake Luke Air Force Base, Litchfield Road, Northern Avenue and the newly built Northern Parkway. The 2.4 million-square-foot development will comprise Building A (695,750 square feet), Building B (454,761 square feet) and Building C (nearly 1.3 million square feet). The facilities will feature 40-foot clear heights, 25-foot glass entryways, automated dock doors, trailer and automobile parking and 5- by 10-foot windows on all levels. Outdoor amenities at Luke Field will include barbecue stations, shaded outdoor eating areas and employee collaboration stations. Additionally, the industrial facilities will be equipped with touchless technology throughout. Lincoln Property Co. serves as the leasing agent for Luke Field. The design-build team includes general contractor Layton Construction and architect Butler Design Group. LPC Desert West acquired the site in mid-2022 for $53 million. The developer expects to complete the project in a single phase by fourth-quarter 2024. Luke Field is near Loop 303 and I-10. Corporate neighbors include Walmart, Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, …
MANSFIELD, TEXAS — High Street Logistics Properties has acquired Mansfield Urban Industrial Park, a three-building, 267,622-square-foot complex located on the southern outskirts of Fort Worth. Completed in summer 2022, the development was 89 percent leased at the time of sale to a tenant roster with a weighted average remaining lease term of 4.6 years. Building features include 18- to 28-foot clear heights, ESFR sprinkler systems and speculative office space. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark represented the seller, Dallas-based developer Longbow Interests, in the transaction.