FORT WORTH, TEXAS — Houston-based developer Alliance Industrial has broken ground on Point South Commerce, a 258,100-square-foot project that will be located about 10 miles south of downtown Fort Worth. The facility will feature 50 dock doors, two drive-in doors with ramps, 234 car parking spaces and 77 trailer parking stalls. Holt Lunsford Commercial is the leasing agent for the project, which is scheduled for a fourth-quarter delivery.
KANSAS CITY, MO. — Developer Hunt Midwest is scheduled to break ground Wednesday, June 21 on KCI 29 Logistics Park in Kansas City. The 3,300-acre project, situated near the Kansas City International Airport, is the largest contiguous industrial site in Missouri, according to the developer. Hunt Midwest says the development has the potential to accommodate up to 20 million square feet of industrial space, attract 9,000 jobs and generate $2.5 billion of capital investment. The site is located just north of the new KCI terminal with direct access to the KCI air cargo hub as well as interstates 29 and 435. The State of Missouri has awarded project funding via an industrial grant program and a transportation cost-share program.
CINCINNATI — Colliers has brokered the sale of a 14-building industrial portfolio in metro Cincinnati for an undisclosed price. The portfolio is comprised of nine light industrial buildings and five distribution buildings in Cincinnati and Erlanger, Ky. The value-add portfolio was 94 percent leased at the time of sale to 56 tenants across industries that include third-party logistics, air cargo, e-commerce, manufacturing and wholesale trade. John Gartner, Erin Casey and Andrew Jacob of Colliers represented the buyer, TradeLane Properties. Tappan Properties was the seller.
BATAVIA, ILL. — Velocis, a Dallas-based private equity real estate fund manager, has begun development of Batavia Logistics Center in suburban Chicago. The 543,603-square-foot distribution center is being developed in partnership with SCOA Real Estate Partners, a fully owned subsidiary of Sumitomo Corp. of Americas. Located four miles north of I-88 at the intersection of Kirk Road and Fabyan Parkway, the project will feature 54 dock doors, four drive-in doors, 117 trailer stalls, parking for more than 400 cars and a clear height of 36 feet. A team of brokers led by Ryan O’Leary of KBC Advisors is handling leasing. Completion is slated for the first quarter of 2024.
FONTANA, CALIF. — JLL Capital Markets has arranged $49.2 million in construction financing for Birtcher Logistics Center Fontana, a Class A industrial distribution facility currently being built in Fontana. The 330,048-square-foot project is set for completion in the first quarter of 2024. Situated on more than 13 acres, the facility will feature 36-foot clear heights, 51 dock-high doors, 85 trailer parking stalls and a 185-foot truck court. The borrower, Birtcher Development LLC, secured the three-year loan with two one-year extensions from a life insurance company. JLL Capital Markets’ debt advisory team, led by Greg Brown, Peter Thompson and Spencer Seibring, arranged the financing.
PORTLAND, ORE. — Bronko LLC has acquired three industrial buildings and a parking lot located at 615-633 SE Clay St. and 1521 SE 7th Ave. in Portland. Norris & Stevens arranged the investment sale, valued at $2.6 million. Constructed between 1924 and 1925, the property consists of three commercial buildings, each spanning about 5,000 square feet. It also includes a parking lot measuring 10,000 square feet across the street from the buildings. The previous tenants included an auto transmission service, printing services and an upholstery supplier. Greg Nesting and Gabe Schnitzer of Norris & Stevens represented both the buyer and the seller, Robert R. Dickey et al., in this transaction.
HOUSTON — Locally based firm Clay Development is underway on construction of Main Central I, a 523,640-square-foot distribution center in Houston. The 33.4-acre site is located at the intersection of South Main/U.S. Highway 90 and the Fort Bend Toll Road on the city’s southwest side. Main Central I will feature a cross-dock configuration, 36-foot clear heights, parking for 151 trailers and 109 employee vehicles and an ESFR sprinkler system. Completion is scheduled for the third quarter. Clay Development has tapped Cushman & Wakefield to assist with its internal marketing and leasing efforts.
FORT WORTH, TEXAS — JLL has arranged an undisclosed amount of financing for Meacham Commerce Center Building 1, a 334,750-square-foot industrial property in Fort Worth. The cross-dock facility was built on 19.4 acres in 2022 and features 36-foot clear heights, 70 dock-high doors, four drive-in ramps and parking for 240 cars and 103 trailers. Colby Mueck, John Beeler and John David Johnson of JLL arranged the loan through Protective Life Insurance Co. on behalf of the borrower, McCormack Commercial. Meacham Commerce Center will ultimately consist of four buildings totaling roughly 1.3 million square feet across 80 acres.
CHULA VISTA, CALIF. — Sudberry has started construction on the second phase of Otay River Business Park in Chula Vista. Phase II will include two manufacturing and warehouse buildings that will total 205,335 square feet. A 97,230-square-foot building and 108,205-square-foot building will be located at 2995 and 2855 Faivre Street, respectively. Pre-leasing is underway with sizes ranging from 25,000 to 108,000 square feet. Sudberry’s development team includes TFW Construction, SCA Architecture, Lightfoot Planning Group, Ridge Landscape Architects (RLA) and Southland Paving. Michael Mossmer of Voit Real Estate Services is providing brokerage services.
SANTA ANA, CALIF. — Marcus & Millichap has arranged an acquisition loan of $6.4 million for an industrial property in Santa Ana. The 19,152-square-foot asset is located at 1820 S. Santa Fe St. Richard Knorr of Marcus & Millichap Capital Corp. secured the financing with a national bank. The loan features a 6.14 percent interest rate with a 25-year self-liquidating term. Drew Wetherholt and Colin Wu of Marcus & Millichap arranged the sale. The buyer and seller were not disclosed.
