WHITESTONE, N.Y. — Cushman & Wakefield has brokered the $12.1 million sale of a 4.6-acre industrial outdoor storage site in Whitestone, located north of Queens. The site, which is also zoned to support 121,882 square feet of industrial development, comprises six lots that are leased to 12 tenants on short-term bases. Daniel Abbondandolo, Robert Kuppersmith and Joegy Raju of Cushman & Wakefield represented the undisclosed seller in the transaction. Brian Sarath, also with Cushman & Wakefield, represented the buyer, Top Rock Holdings.
MARSHALL, MICH. — Ford Motor Co. (NYSE: F) has unveiled plans for BlueOval Battery Park Michigan, a $3.5 billion lithium iron phosphate (LFP) electric vehicle battery plant in Marshall, a small city of about 7,000 residents located approximately 100 miles west of Detroit. The development will be the first automaker-backed LFP battery plant in the U.S., according to Ford, and will initially employ 2,500 workers upon completion in 2026. The site offers opportunity for further development, despite the fact that 245 acres of land along the Kalamazoo River will be placed into a conservation easement and protected against future industrial development. The plant will operate as a wholly owned subsidiary of Ford in partnership with global battery manufacturer Contemporary Amperex Technology Co. Limited (CATL). Under terms of the arrangement, Ford will manufacture its LFP battery cells utilizing services and knowledge from CATL. The company’s current roster of electric vehicles run on nickel cobalt manganese (NCM) batteries. By offering a second, lower-cost battery chemistry, the company will be able to expand its offering of electric vehicles with a variety of affordable new models. “Ford’s electric vehicle (EV) lineup has generated huge demand,” says Jim Farley, the company’s president and CEO. “To …
LANCASTER, TEXAS — BlueTriton Brands Inc., a Connecticut-based beverage provider, has signed a 603,328-square-foot, full-building industrial lease at 2900 West Drive in Lancaster, a southern suburb of Dallas. According to LoopNet Inc., the property was built on 41.6 acres in 2021 and features 40-foot clear heights. Canon Shoults, John Gorman and Mitch Cantwell of Holt Lunsford Commercial represented the landlord, Boston-based AEW Capital Management, in the lease negotiations. Caleb McCoy of JLL represented the tenant.
FRANKLIN, KY. — LioChem e-Materials LLC, a subsidiary of Toyo Ink SC Holdings Co. Ltd., will develop a new speculative manufacturing facility at 310 Ronnie Clark Drive in Franklin’s Interstate Industrial Park. Hal Johnson, Jamie Newell and Tak O’Haru of NAI Ready represented LioChem in the site selection and purchase of 26 acres for the project. The facility, which is projected to create 141 jobs, will produce carbon nanotube (CNT) dispersions — the cathode conductive material used to enhance the performance of lithium-ion batteries — for use in electric vehicles.
EASTAMPTON, N.J. — New York City-based development and investment firm Rockefeller Group has sold a 345,600-square-foot warehouse and distribution center in Eastampton, located east of Philadelphia, for $83 million. Building features include a clear height of 36 feet, 185-foot truck court depths, 54 dock doors, 384 car parking spaces, 96 trailer parking spaces and 4,000 square feet of office space. Glendale Warehouse & Distribution Corp. purchased the facility and will use it to store and distribute spices and other food products. Tom Monahan, Gerard Monahan, Stephen D’Amato, Larry Schiffenhaus, Lauren Hageman and Ana Lazarides of CBRE represented Rockefeller Group in the transaction. Chuck Fern of Cushman & Wakefield represented the buyer.
ANGOLA, IND. — Franklin Street has arranged the sale of a two-property self-storage portfolio totaling 109 units in Angola, a city in Northwest Indiana. The sales price was undisclosed. The facilities were built in 1986 and 1999. David Perlleshi and Frank DeSalvo of Franklin Street represented the seller, HZ Capital Partners LLC. NT Investments LLC was the buyer. The transaction marks the fourth asset that Perlleshi and DeSalvo have sold on behalf of HZ Capital Partners in the last nine months.
OCALA, FLA. — MDH Partners has completed construction on Ocala Logistics Center, a 350,878-square-foot speculative distribution facility situated on 27.9 acres in Ocala. Located at the corner of Northwest 35th Street and Northwest 27th Avenue, the property features 196 parking spaces, 96 trailer drops, ESFR sprinkler systems and 36-foot clear heights. The building allows for single or multi-tenant occupancy and includes 2,759 square feet of office space, LED warehouse lighting and six dock levelers. Peak Development Co. served as development manager on the project, and Avison Young is handling leasing on behalf of MDH Partners.
SEABROOK, TEXAS — Transwestern Development Co. (TDC) has completed Bayport 146 Distribution Center, a 454,600-square-foot industrial project in Seabrook, about 30 miles southeast of Houston. The site is adjacent to Port Houston’s Bayport Container Terminal. Bayport 146 Distribution Center, which can accommodate a single or multiple tenants, features 36-foot clear heights, 150- to 180-foot truck court aprons and parking for up to 74 trailers. Construction began in April 2022. Transwestern is also marketing the facility for lease on behalf of its developer affiliate.
HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $17.6 million acquisition loan for a portfolio of four industrial properties in Houston. The portfolio includes a fifth property in Cedar Rapids, Iowa, and the quintet of assets totals 229,775 square feet. Frank Montalto and Dean Giannakopoulos of IPA originated the five-year loan, which was structured with a 65 percent loan-to-value ratio and a 25-year amortization schedule. The names of the borrower and direct lender, a local bank, were not disclosed.
HOUSTON — Electrical distribution firm Lightning Inc. has signed a 61,920-square-foot industrial lease renewal in East Houston. According to LoopNet Inc., the building at 2425 Broad St. was built in 1957 and totals 166,440 square feet. Michael Keegan and Andrew Laycock of Partners represented the landlord, an entity doing business as SL5 Urban Industrial GP LLC, in the lease negotiations. Grant Hortenstine and Drew Morris of Savills represented the tenant.