HOUSTON — Partners Real Estate has negotiated a 5,000-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the property at 12826 Hempstead Road was built in 1979, totals 20,077 square feet and offers four dock doors and two drive-in bays. Devin Hawkins of Partners represented the tenant, Choice Botanicals Inc., in the lease negotiations. Mickey Brown of Bernell & Associates represented the landlord, an entity doing business as RB Warehouses 290.
ST. PETERS, MO. — Contegra Construction has broken ground on the first of five planned buildings at Lakeside Logistics Center, a $129 million industrial project in St. Peters, a northwest suburb of St. Louis. NorthPoint Development is developing the 190-acre project. The first building, slated for completion by the end of this year, will total 490,000 square feet. It will feature a clear height of 36 feet, 51 dock doors, seven drive-in doors, four office spaces and parking for 490 cars and 134 trailers. Lakeside Logistics Center will ultimately consist of up to five speculative buildings totaling 1.6 million square feet.
AURORA, ILL. — Colliers has brokered the sale of the I-88 Logistics Center in Aurora for an undisclosed price. Built on a speculative basis by Opus North Development in 2015, the 604,556-square-foot facility features a clear height of 32 feet and parking for 63 trailers. At the time of sale, the property was fully leased to Ryder Logistics, whose lease runs through 2027. Jeff Devine and Steve Disse of Colliers represented the seller, an institutional real estate advisor. An undisclosed financial institution purchased the asset.
SPRING GROVE, ILL. — Entre Commercial Realty has arranged the sale of a 101,323-square-foot industrial building in Spring Grove, a city in Northeast Illinois. The building sits on 10 acres at 3106 N. Route 12. Spring Grove-based All-Rite Spring Co. acquired the facility with plans to consolidate operations from multiple buildings. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the buyer. The sales price and seller were undisclosed.
SPARTANBURG, S.C. — Charleston-based development firm Greystar has broken ground on Mid85, a 2 million-square-foot industrial park in the Upstate South Carolina city of Spartanburg. Greystar and general contractor Frampton Construction have begun to build Phase I, which will comprise two speculative warehouses totaling 1.2 million square feet. Building One will total 277,648 square feet, with a rear-load layout, 32-foot clear heights, 58 dock doors and 78 trailer parking spots. Building Two will measure 917,694 square feet and feature a cross-dock layout, 40-foot clear heights, 88 dock doors and 201 parking spaces. The design-build team includes architect McMillan Pazdan Smith, civil engineer SeamonWhiteside and structural engineer WGPM Inc. JLL is handling leasing for the park, which will be situated off I-85 near Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s Spartanburg plant. Greystar expects to deliver Mid85 in October 2024.
HOUSTON — Partners Real Estate has arranged a 15,600-square-foot industrial lease in Houston. According to LoopNet Inc., the single-tenant property at 14720 Vickery Drive was built in 2012 and offers 28-foot clear heights. Clint Hankla of Partners represented the landlord, a family office, in the lease negotiations. Nick Bergmann of CBRE represented the tenant, U.S. Foods.
FARMERS BRANCH, TEXAS — AlarMax Distributors Inc., a provider of home security products, has signed an 11,430-square-foot industrial lease in the northern Dallas metro of Farmers Branch. The building at 11431 Ferrell Drive totals 33,140 square feet, and the space includes a 3,000-square-foot showroom. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord in the lease negotiations. Kyle Espie and Brian Pafford of Bradford Commercial Real Estate Services represented the tenant.
ISLIP, N.Y. — New York City-based Eagle Cliff Real Estate Partners has purchased an eight-acre industrial development site located at 4955 Veterans Memorial Highway in the Long Island community of Islip. Eagle Cliff plans to construct a 108,023-square-foot building that will be known as Holbrook Logistics Center and that will clear height of 36 feet, two drive-in doors and 108 parking spaces. Delivery is slated for the third quarter of 2024. Jordan Avanzato, Marc Duval, Nicholas Stefans, Jason Lundy, Jose Cruz and Mark Belenky of JLL brokered the land deal. The seller was an undisclosed local developer. First Citizens Bank provided $19.5 million in construction financing for the deal.
MCCORDSVILLE, IND. — Walmart has opened a new 2.2 million-square-foot fulfillment center in McCordsville, about 20 miles northeast of Indianapolis. The project marks Walmart’s largest fulfillment center to date and will enable the retailer to fulfill more orders via next- or two-day shipping. More than 1,000 Walmart associates will work at the fulfillment center. Walmart employs more than 43,000 associates in Indiana.
MINNEAPOLIS — Developer ALCAT Broadway LLC has begun construction of The Broadway, a 182,000-square-foot speculative industrial building located at the intersection of Broadway Street and Industrial Boulevard in Minneapolis. The project will feature a clear height of 32 feet, 33 dock doors and up to 20 spaces for trailer storage. The development is situated within an Opportunity Zone. Todd Hanson, Jason Sell and Jordan Dick of Cushman & Wakefield will market the project for lease. Completion is slated for the fourth quarter.