Industrial

Griffin Partners, Peakline to Develop 224,700 SF Industrial Project in South Houston

by Taylor Williams March 20, 2025

HOUSTON — A joint venture between funds backed by Houston-based developer Griffin Partners and Chicago-based investment firm Peakline Partners will develop a 224,700-square-foot industrial project in South Houston. Known as Griffin 288/West Airport, the development will be situated on a 17.8-acre site and will offer parking for 113 cars and 61 trailers (expandable to 81). Construction is slated for a second-quarter 2026 completion. Faron Wiley of CBRE represented the joint venture, which was structured by CBRE’s Nathan Wynne, in its acquisition of the land. Wiley is also the project’s leasing agent along with CBRE colleague Billy Gold.

March 20, 2025

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 103,780 SF Industrial Lease in Laredo, Texas

by Taylor Williams March 20, 2025

LAREDO, TEXAS — Lee & Associates has negotiated a 103,780-square-foot industrial lease within Pinnacle Industry Center in the Rio Grande Valley city of Laredo. The tenant, freight and logistics provider Buckland Global Trade Services, will occupy the entirety of the building at 21208 Kraus Loop, which sits on a 7.4-acre site and features 32-foot clear heights. Enrique Volkmer of Lee & Associates represented the tenant in the lease negotiations. Huffman Development & Construction Services owns the building.

March 20, 2025

Industrial Leasing Activity Lee & Associates Texas

Precision Pulley & Idler Signs 38,734 SF Industrial Lease in Arlington

by Taylor Williams March 20, 2025

ARLINGTON, TEXAS — Precision Pulley & Idler has signed a 38,734-square-foot industrial lease in Arlington. The manufacturer of conveyor systems and components is taking space at the building at 2025 Meridian St., which according to LoopNet Inc. was constructed in 1980 and totals 71,973 square feet. Harrison Putt and Nick Fulton of Mercer Co. represented the tenant in the lease negotiations. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Chicago-based ML Realty Partners.

March 20, 2025

Acquisitions California Development Industrial Multifamily Western

Shopoff Realty Buys 13.7-Acre Property in Buena Park, Plans Residential Development

by Amy Works March 20, 2025

BUENA PARK, CALIF. — Shopoff Realty Investments, in partnership with a national home builder, has acquired a 13.7-acre property in Buena Park, with plans to re-entitle the parcel for residential use. The property currently features two industrial buildings totaling 370,031 square feet that are occupied by Amway Corp. with a corporate sale-leaseback in place. A total of $49 million in acquisition financing for the project was secured with assistance from Jamie Kline and Kyle White of JLL Capital Markets.

March 20, 2025

Acquisitions Industrial Michigan Midwest

TruCore Investments Acquires 30,770 SF Industrial Building in Lansing, Michigan

by Kristin Harlow March 20, 2025

LANSING, MICH. — TruCore Investments has acquired a fully leased industrial building totaling 30,770 square feet at 4908 Contec Drive in Lansing. Built in 1999, the facility sits on 2.2 acres and features 24,050 square feet of warehouse space and 6,720 square feet of office space. There are 55 parking spaces, two conference rooms, a reception area, breakroom, two docks, two drive-in doors and a 24-foot warehouse ceiling height. The property is fully leased to Extend Your Reach, a full-service mail and marketing company. Christopher Miller of Martin Commercial Properties brokered the transaction.

March 20, 2025

Acquisitions Industrial Massachusetts Northeast

Stubblebine Co. Negotiates Sale of 14.3-Acre IOS Facility in Whitman, Massachusetts

by Taylor Williams March 20, 2025

WHITMAN, MASS. — Locally based brokerage firm The Stubblebine Co. has negotiated the sale of a 14.3-acre industrial outdoor storage (IOS) facility in Whitman, located south of Boston in Plymouth County. The site at 215 Bedford St. includes a 23,255-square-foot warehouse and 4.8 paved acres. Matty Drouillard and James Stubblebine of The Stubblebine Co. represented the seller, a limited liability company, in the transaction and procured the buyer, Philadelphia-based Alterra IOS

March 20, 2025

Industrial Leasing Activity New York Northeast

Immortal Fitness Signs 14,994 SF Lease at Industrial Flex Building in Thornwood, New York

by Taylor Williams March 20, 2025

THORNWOOD, N.Y. — Immortal Fitness has signed a 14,994-square-foot lease in an industrial flex building in Thornwood, located about 30 miles north of Manhattan. The building at 1 Zeiss Drive totals 120,000 square feet, and the space will feature a range of personal and group training areas, as well as a lounge, locker rooms, sauna and patio. New York Commercial Realty Group represented the tenant and the owner, Simone Development Cos., in the lease negotiations.

March 20, 2025

Industrial Market Reports Michigan Midwest Midwest Market Reports

Detroit’s Industrial Market Remains Resilient Despite Potential Concerns

by Kristin Harlow March 20, 2025

By Jason Capitani, L. Mason Capitani/CORFAC International The automotive industry and business as a whole have always operated in cycles. Looking back at 2009, when Southeast Michigan faced significant challenges, the region’s recovery in the years that followed shows how resilient the local economy can be. Yet, as we navigate today’s post-COVID landscape, some still hope for a more gradual and stable recovery. Though questions remain about whether Detroit should have seen a market correction years ago, or if electric vehicle programs have artificially propped up the economy, only time will tell. Michigan’s jobless rate hovers around 4 percent, lower than the national average of over 7 percent, marking the lowest level since before the pandemic. The state has added over 450,000 jobs since 2020. While the automotive sector remains dominant, other thriving industries include advanced manufacturing, defense, IT, medical devices, food processing and logistics. 2025 outlook: early weakness with potential for shift Demand for industrial space in late 2024 and early 2025 has been weaker, with net absorption at its lowest since 2021. This dip might signal a shift in the auto industry, with some speculating a return to hybrid or combustion engine production, though these decisions take time …

March 20, 2025

Acquisitions Florida Industrial Southeast

Cushman & Wakefield Brokers Sale of 587,815 SF Industrial Property in Jacksonville

by John Nelson March 20, 2025

JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the sale of a 587,815-square-foot industrial facility located on a 28-acre parcel at 5245 Commonwealth Ave. in Jacksonville’s Westside submarket. Rick Brugge, Mike Davis, Rick Colon and Dominick Montazemi of Cushman & Wakefield represented the seller, a fund managed by DRA Advisors, in the transaction. Treetop Cos. acquired the property for an undisclosed price. Situated near I-10 and I-295, the property includes a vacant 560,688-square-foot warehouse and a 27,127-square-foot outparcel building fully leased to Conlan Tire.

March 20, 2025

Industrial Leasing Activity Texas

Pilot Air Freight Signs 95,071 SF Industrial Lease in Coppell, Texas

by Taylor Williams March 19, 2025

COPPELL, TEXAS — Pilot Air Freight has signed a 95,071-square-foot industrial lease in Coppell, located in the northern-central part of the metroplex. The freight forwarding provider will occupy the entirety of the building at 221 Southwestern Blvd., which according to LoopNet Inc. was completed in 2024. Building features include 32-foot clear heights, 31 dock-high doors and 3,780 square feet of office space. J.M. Priddy, Robert Tamillo ad Jon Gorczyca of JLL represented the tenant in the lease negotiations. Jeremy Kelly and Lena Thomas of Stream Realty Partners represented the landlord, Chicago-based ML Realty Partners.

March 19, 2025

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