HOUSTON — VeriTrust Corp., a provider of document shredding and other information management services, has signed a 41,937-square-foot industrial lease at 2155 Silber Road in northwest Houston. According to LoopNet Inc., the property was built in 1979 and totals 95,600 square feet. Chris Kugle of Partners represented the tenant in the lease negotiations. Carter Holmes and Matt Dewhirst of Holt Lunsford Commercial represented the undisclosed landlord.
CAMBRIDGE, MASS. — Locally based firm Nauset Construction is underway on the renovation of a 90,000-square-foot data center that is located across the Charles River from Boston in Cambridge. The project represents the third phase of capital improvements at the property at 300 Bent St. Upgrades will include the demolition and excavation of the existing lobby, the revamping of mechanical and utility systems and the addition of another 8,000 square feet of tenant space. Khalsa Design is the project architect. Construction is anticipated to be complete this fall. CEM Realty Trust owns the property.
SAN DIEGO — A joint venture between San Diego-based Elevation Land Co. and a real estate fund advised by Crow Holdings Capital has unveiled plans to develop Otay Business Park, a 1.8 million-square-foot industrial, distribution and warehouse property in the Otay Mesa submarket of San Diego. Current construction plans for Otay Business Park include the development of eight speculative or build-to-suit buildings that can accommodate users ranging from 45,000 square feet to 500,000 square feet. The buildings will feature 32-foot to 36-foot clear heights, 325 dock-high loading positions, 175 trailer stalls and 16 grade-level loading doors. Slated for completion in the second half of 2024, Phase I will consist of 1 million square feet of space spread across five buildings. Phase II will consist of 770,000 square feet across the buildings, with completion scheduled for 12 months after Phase I is delivered. All buildings are planned for speculative development but can be delivered on a build-to-suit basis for occupants. The developers acquired a total of 263 acres of land where the project is being developed during the second quarter of 2022 for $165 million. The land purchased included the 119 acres that Otay Business Park will occupy, along with several …
KANNAPOLIS, N.C. — A joint venture between Trinity Capital Advisors and Barings has purchased 154 acres in the northern Charlotte suburb of Kannapolis. The companies plan to develop 85 Exchange, a Class A industrial park spanning 1.3 million square feet across seven buildings. The park will be situated within one mile of I-85 at Kannapolis Parkway and Davidson Highway. Phase I of 85 Exchange comprises two buildings totaling 314,000 square feet and will begin speculative development this March, delivering first-quarter 2024. The design-build team includes general contractor Choate Construction and architect Merriman Schmitt Architects. Cushman & Wakefield’s Matt Treble, Fermin Deoca, Drew Coholan and Frances Crisler are handling leasing duties.
FLETCHER, N.C. — Copart Inc., an online car auction platform based in Dallas, has purchased 57.1 acres in Fletcher for $8.6 million. The land is situated roughly 12 miles south of Asheville. The company plans to use the land for an industrial outdoor storage yard of cars set for auction across the Southeast. Randall Bentley and Jordan Skellie of Lee & Associates Greenville/Spartanburg represented the seller, an entity doing business as Minkles BRM LLC, in the transaction.
HOUSTON — A partnership between Texas-based developer Constellation Real Estate Partners and investment management firm Cadre will develop a 192,306-square-foot speculative industrial project in Houston. The site spans 20.8 acres at the northeast corner of Beltway 8 and Telephone Road, and the development will be known as Constellation Telephone. The development team, which includes Seeberger Architecture, plans to construct two buildings with 28-foot clear heights. Construction is scheduled to begin in the second quarter and to wrap up in the first quarter of 2024. Colliers advised Constellation on the land deal and has been retained as the leasing agent.
HOUSTON — Logistics and warehousing services provider RigMore has signed a 102,152-square-foot industrial lease 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. The representative of the tenant was not disclosed.
DALLAS — Careismatic Brands, a California-based designer and distributor of apparel, footwear and accessories, has signed a 1 million-square-foot industrial lease at I-20 Logistics Park in southwest Dallas. The newly built facility offers 40-foot clear heights, 170 dock-high doors and 246 trailer parking stalls. Nathan Lawrence and Krista Raymond of KBC Advisors represented the landlord, a partnership between Ares Development and Archway Properties, in the lease negotiations. Jim Hazard and Brad Struck of Cresa represented Careismatic Brands.
SCHERTZ, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated a 116,176-square-foot industrial lease in Schertz, a northeastern suburb of San Antonio. According to LoopNet Inc., the property at 9870 Doer Lane totals 307,000 square feet and features 32-foot clear heights. John Colgalzier of Partners represented the landlord, an entity doing business as Baltisse-Ackerman Schertz, in the lease negotiations. The representative of the tenant, third-party logistics firm Quality Custom Distribution Services, was not disclosed.
FORT WORTH, TEXAS — Hilco Real Estate has brokered the bankruptcy sale of a 48,980-square-foot data center located along U.S. Highway 287 in Fort Worth. Built in 2018 as an industrial flex property and recently repositioned to support data center usage, the facility features 18- to 26-foot clear heights, 22 drive-in doors and office space. The site includes 6.5 acres for future expansion. The facility was leased to an undisclosed trucking company at the time of sale. The buyer and seller were not disclosed.