BAYONNE, N.J. — JLL has negotiated a 195,723-square-foot industrial lease for The Home Depot at Harborview Logistics Center in the Northern New Jersey community of Bayonne. The speculative building will be fully complete in January and features a clear height of 40 feet, 46 dock doors and parking for 149 cars and 32 trailers. HD Supply, an affiliate of the Atlanta-based home improvement retailer, will relocate to the facility in a move that represents an expansion from its current facility in nearby Secaucus. Joel Lubin and Gary Politi of JLL represented the landlord, Delta Equity Management, in the negotiations for the seven-year lease. Noah Balanoff of Colliers represented the tenant.
Industrial
GLENDALE, ARIZ. — Logistics Plus, a worldwide provider of transportation, logistics and supply chain solutions, has signed a full-building lease at Building A of Sarival Logistics Center in Glendale. The 1.15 million-square-foot building was built on a speculative basis and is the first phase of a larger development, which can accommodate more than 2 million square feet of industrial space at full build out. Building A features 40-foot clear heights, 845 auto parking spaces, 409 trailer stalls, 218 dock doors, four drive-in doors, wide column spacing, ESFR sprinklers, 6,000 amps of heavy power and LED warehouse lighting. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield represented the undisclosed landlord, while Jeremy Trotter of Foremost Commercial represented the tenant in the lease transaction.
BH Developers Breaks Ground on 36,000 SF Airpark North Industrial Project in Northern Colorado
by Amy Works
LOVELAND, COLO. — BH Developers, with Evergreen Industrial as general contractor, has broken ground on Airpark North, a freestanding industrial building located adjacent to the Fort Collins/Loveland Airport in Loveland. Situated on four acres, the building features 30,000 square feet of warehouse space and two 3,000-square-foot mezzanines. The property also features 21-foot clear heights, six loading doors, a 1.5-acre laydown yard behind the building and retention pond. Completion is slated for June 2023. Travis Ackerman of Cushman & Wakefield and Matt Haskell of URealty are handling marketing efforts for the project.
DALLAS — Cushman & Wakefield has arranged the sale of a portfolio of seven industrial buildings totaling approximately 759,889 square feet in Dallas-Fort Worth. The properties are scattered throughout the metroplex in municipalities including Richardson, Lewisville, Irving, Farmers Branch, Coppell and Arlington. Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. New Jersey-based investment firm Faropoint acquired the portfolio, which was fully leased at the time of sale, for an undisclosed price.
SAN JOSE, CALIF. — WF Batton Management Co. has acquired Valley Research Center, a R&D campus in North San Jose, for $41.5 million. The name of the seller was not released. Joe Moriarty, Scott Prosser and Jack DePuy of CBRE Capital Markets represented the seller in the transaction. Valley Research Center comprises two 64,512-square-foot buildings, which were renovated in the last two years with a new lobby, collaborative work areas, fitness center and outdoor recreational areas. Harmonic Inc. fully occupies the building at 2590 Orchard Parkway and FIT Electronics (Foxconn) leases 26 percent of 2580 Orchard Parkway.
RENTON, WASH. — Clarion Partners has completed the disposition of Renton Logistics Center, a Class A industrial building located at 2501 E. Valley Road in Renton. An institutional buyer acquired the asset for an undisclosed price. Brett Hartzell and Paige Morgan of CBRE National Partners in the Pacific Northwest represented the seller in the deal. Built in 1996, the 459,349-square-foot, cross-dock facility features 30-foot clear heights, 75 dock-high doors, trailer parking, heavy power, recent upgrades to ESFR and energy-efficient lighting. At the time of sale, three tenants fully leased the property: Graybar, Swire Coca-Cola and Sealed Air.
Blue West Capital Arranges $5M Sale of FedEx-Occupied Building in Steamboat Springs, Colorado
by Amy Works
STEAMBOAT SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant property located at 2717 S. Copper Passage in Steamboat Springs. A Colorado-based private investor sold the asset to a Denver-based buyer for $5 million in an all-cash transaction. FedEx has operated at the property since 2000 and recently signed a long-term, net-lease extension. Brandon Gayeski of Blue West Capital represented the seller in the deal.
DENTON, TEXAS — Dallas-based developer Box Investment Group will build M380 Business Park, a 156,090-square-foot industrial project in the North Texas city of Denton. The site is located at the corner of North Masch Branch Road and State Highway 380 and will house four freestanding buildings that can be marketed to users with a variety of square footage requirements. Construction is scheduled to begin early next year and to be complete in the first quarter of 2024.
SCHERTZ, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated a 112,935-square-foot industrial lease at Doerr Lane Logistics Center in the northeastern San Antonio suburb of Schertz. John Colglazier, Kyle Kennan and Carlos Marquez of Partners represented the landlord, an entity doing business as Baltisse-Ackerman Schertz LLP, in the lease negotiations. Brad Hanagan of ATCAP Partners represented the tenant, MEI Rigging & Crating LLC. The property, which is under construction and slated for a February 2023 delivery, is now 75 percent preleased.
MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments will develop a 323,750-square-foot industrial project in Merrimack, located in the southern part of the Granite State. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter of 2023.