MANCHESTER, N.H. — Maryland-based development and investment firm Realterm and the Manchester-Boston Regional Airport (MHT) have completed a 65,000-square-foot, multi-tenant air cargo facility in Manchester, located in the southern part of the Granite State. Amazon Air has launched daily cargo service at the facility, which features three aircraft parking positions with the option to expand to a fourth.
ENGLEWOOD, COLO. — CBRE has arranged the sale of Inverness Business Park at 35 Inverness Drive East in Englewood, a southeast suburb of Denver. Terms of the transaction were not released. Teledyne Technologies, a manufacturer of air quality monitoring instrumentation and software, fully leases the 65,000-square-foot property, which it has occupied since 2004. Built in 1980, the multi-use building has a single-story warehouse and a two-story office space. The warehouse space includes a loading dock with five overhead rolling doors. The property also features a tenant cafeteria area and outdoor patio space. Patrick Devereaux, James Brady and Campbell Davis of CBRE represented the undisclosed seller in the deal. The name of the buyer was not released.
PERRIS, CALIF. — Westport Properties has released plans for a Class A industrial building at the corner of Ramona Expressway and Brennan Avenue in Perris. The company acquired the land in September 2022. Construction for the single-tenant, 99,910-square-foot facility is slated to begin in third-quarter 2023. The building will feature 36-foot clear heights, secured truck court, ESFR sprinklers, 11 dock doors and 6,000 square feet of office space. Completion is scheduled for third-quarter 2024. Alex Smith and Herrick Johnson of Lee & Associates are handling leasing for the property.
AUSTIN, TEXAS — A joint venture between Houston-based Hines and New York-based investment firm Galesi Group will develop a 1.7 million-square-foot industrial park in northeast Austin. The site at the corner of Harris Branch Parkway and Parmer Lane spans 150 acres. Powers Brown Architecture is designing the project, the first phase of which will consist of three buildings totaling 315,000 square feet. A construction timeline was not disclosed.
EDGEWATER, FLA. — Tampa-based Onicx Group has acquired 83 acres of industrial land in Edgewater in a joint venture with Aries Capital. The companies, which acquired the site for $4.2 million, will develop a 1 million-square-foot industrial park called Space Coast Industrial Park at Parktowne. Groundbreaking for the development is expected in January 2023. Phase I will include the construction of two buildings comprising 133,500 and 176,000 square feet, for a total 309,500 square feet. Completion of the first phase is anticipated for the first quarter of 2025. Orlando-based C4 Architecture will serve as the project’s architect. Scott Claiborne of Onicx led the site identification and development approval process, with Neil Freeman, Matt Carney and Brandon Perdeck of Aries overseeing the land acquisition and transaction structure and financing.
ODESSA, TEXAS — Marcus & Millichap has brokered the sale of a 54,678-square-foot industrial building located at 8100 N. County Road W. in the West Texas city of Odessa. According to LoopNet Inc., the single-tenant property was built on 5.6 acres in 1959 and features 29-foot clear heights. Adam Abushagur and Davis Cagle of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.
TRENTON, N.J. — NAI Fennelly has brokered the $1.8 million sale of a 27,362-square-foot industrial building located at 480 Lalor St. in Trenton. The building features a clear height of 12 feet and one loading dock. Jerry Fennelly and Matt Fennelly of NAI Fennelly represented the seller, Switlik Survival Products Inc., in the transaction. The buyer was New Jersey-based Howco Management.
FORNEY, TEXAS — Houston-based developer Lovett Industrial has broken ground on Innovation Ridge Logistics Park, a 1.1 million-square-foot speculative project in the eastern Dallas suburb of Forney. The development will consist of an 817,538-square-foot cross-dock facility, a 175,092-square-foot single-load building and a 145,020-square-foot single-load structure. Ware Malcomb designed the project, and Alston Construction is serving as the general contractor. Kimley-Horn is the civil engineer. Simmons Bank provided construction financing, and Cushman & Wakefield is the leasing agent. Completion is slated for September 2023.
CEDAR HILL, COLLEYVILLE AND DENTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 1,743 units that are located in the North Texas cities of Cedar Hill, Colleyville and Denton. The portfolio totals 201,850 net rentable square feet. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL represented the seller, a joint venture between Chicago-based investment firm Harrison Street and Advantage Self Storage, in the transaction. The team also procured the buyer, Texas-based investment firm HPI.
SPARTANBURG, S.C. — Kansas City-based NorthPoint Development has broken ground on the first phase of Spartan Enterprise Park, a 310-acre industrial park in Spartanburg that will span nearly 3.3 million square feet upon completion. Phase I comprises two buildings spanning more than 1.3 million square feet, and future phases can accommodate an additional 1.9 million square feet of space. The Colliers team of Garrett Scott, Brockton Hall and Dillon Swayngim helped facilitate the land purchase and will handle all leasing for the park on behalf of NorthPoint. Preleasing for Building One and Building Two is underway, and completion is expected for fourth-quarter 2023. Spartan Enterprise Park is located at 2116 U.S. Highway 221/Chesnee Highway, which is less than one mile from I-85, four miles from downtown Spartanburg and approximately 20 miles from Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s regional manufacturing plant.