COLUMBUS, OHIO — Becknell Industrial is underway on the development of Winchester 527, a 527,023-square-foot speculative industrial building in Columbus. The property will feature a clear height of 40 feet, roughly 2,000 square feet of office space, 436 auto parking spaces and 150 trailer parking spaces. Lee & Associates is marketing the project for lease. Completion is slated for later this year.
LYMAN, S.C. — Kansas City-based Hunt Midwest has completed construction on Fort Prince Logistics Center, an industrial project comprising 476,280 square feet in Lyman, roughly 20 miles northeast of Greenville. Located within Fort Prince Industrial Park at 1090 Fort Prince Blvd., the cross-dock development features 48 dock positions with 36-foot clear heights, mechanical dock equipment, 7-inch concrete slab flooring, speculative office space, 189 surface parking stalls (expandable to 385), up to 125 tractor trailer parking stalls and a 135-foot-deep truck court. Seamon Whiteside provided civil engineering services; LS3P designed the building; and Evans General Contractors oversaw construction. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will handle leasing at the development.
COPPELL, TEXAS — Metropolitan Hardwood Floors has signed a 23,778-square-foot industrial lease renewal at Park West Crossing in Coppell, a northeastern suburb of Fort Worth. According to LoopNet Inc., the building at 435 Southwestern Blvd. sits on 4.9 acres and totals 61,399 square feet. Chicago-based investment firm ML Realty Partners owns Park West Crossing and was internally represented in the lease negotiations. Mike McElwee of Avison Young and Brian Bruininks of The Andover Co. represented the tenant.
MANSFIELD, MASS. — Locally based investment firm Berkeley Partners has acquired a 215,575-square-foot warehouse in the southern Boston suburb of Mansfield. At the time of sale, the building was fully leased to an affiliate of global automotive manufacturer Stellantis, which also owned the facility and has agreed to lease back the space. Michael Restivo, Joe Fabiano, Dave MacDonald and Lenny Pierce of JLL negotiated the sale-leaseback. Brett Paulsrud, also with JLL, arranged acquisition financing for the deal.
SOMERSET, N.J. — San Francisco-based investment firm Terreno Realty Corp. has sold an 86,000-square-foot industrial property located in the Northern New Jersey community of Somerset for $25 million. The property at 70 Schoolhouse Road sits on seven acres and was fully leased to a single tenant at the time of sale. Dan Badenhausen and Andrew Stypa of Lee & Associates represented the seller and procured the undisclosed buyer in the transaction.
ELGIN, ILL. — MAI Fulfillment has signed a 247,000-square-foot industrial lease at 2500 Galvin Drive in Elgin. MAI provides order processing, warehousing services and fulfillment solutions for its clients. The building features a clear height of 30 feet and 36 truck docks. Mike Berkowitz of Entre Commercial Realty represented the tenant. Steve Bass of NAI Hiffman represented the landlord, High Street Logistics Properties.
PORTLAND, ORE. — Norris & Stevens has arranged the sale of Mt. Scott Industrial Park, an industrial asset located at 7402-7410 SE Johnson Creek Blvd. in Portland. Frith Investments 3 acquired the asset from Mt. Scott Industrial Park LLC for $7.6 million. Nick Chessar and Scott Finney of Portland-based Norris & Stevens represented the seller, while Tyler Dean of Macadam Forbes represented the buyer in the transaction. Constructed in 1971 and 1976 on 3.6 acres, the 35,000-square-foot industrial park features office space in each suite, 48 parking spaces, eight grade-level doors and eight drive-in doors. Mt. Scott Industrial Park was 100 percent occupied at the time of sale.
WESTMINSTER, COLO. — PSRS has arranged a $4.2 million refinancing for Church Ranch Self-Storage in Westminster. The property features 663 self-storage units, climate control, high ceilings, electronic gate access and individually alarmed units. Kostas Kavayiotidis and Nicholas Drohan of PSRS secured the long-term, non-recourse loan with a 30-year amortization and flexible prepayment through a correspondent life insurance company. The borrower was not disclosed.
DETROIT — General Motors Co. (NYSE: GM) has announced plans to invest $918 million in capital improvements at four of its U.S. manufacturing plants. The initiative is designed to elevate the company’s production capacity for full-size trucks and sport utility vehicles while also establishing facilities that support the growth of GM’s electric vehicle (EV) divisions. The Detroit-based automotive giant is committing a total of $795 million to two of its Michigan facilities that will support the production of small-block V-8 engines. The company is investing $579 million at its plant in Flint, and the remaining $216 million will be allocated to GM’s facility in Bay City, where parts such as camshafts and connecting rods that support these engines will be assembled. GM is also investing $55 million in its manufacturing operations in Defiance, Ohio. Of this sum, $47 million will be used to prepare the facility for the manufacture of block castings to support future V-8 engine programs. In addition, GM will construct an $8 million casting development cell for future EV initiatives. Lastly, the company has earmarked $68 million for upgrades to its manufacturing facility in Rochester, New York. At this location, GM plans to invest $12 million to …
GAINESVILLE, GA. — CBRE has arranged the purchase of 56.8 acres of land in Gainesville, roughly 55 miles northeast of Atlanta, on behalf of the buyer, Logistics Property Co. The Gainesville and Hall County Development Authority sold the property to the developer for an undisclosed price. Logistics Properrty will develop a two-building, 585,900-square-foot industrial park at the site that will be called Gainesville 85 Business Center. Upon completion, the development will feature 32-foot clear heights, 128 trailer spaces and 422 auto parking spaces. Todd Barton, Mark Hawks, Joanna Blaesing and Matt Higgins of CBRE’s Industrial Properties Group in Atlanta represented the buyer in the land transaction and will handle leasing of the project.
