LOUISVILLE, KY. — Dermody Properties has signed an unknown tenant to a full-building industrial lease at LogistiCenter SM at Louisville Airport Building 2. Built in 2022, the 203,840-square-foot facility is located at 3195 S. Park Road in Louisville, about eight miles south of Louisville Muhammad Ali International Airport. Bruce Isaac of NAI Isaac, Mark Wardlaw and Clay Manley of NAI Fortis and Bill Kampton and Phil Garrett of Colliers NAPA represented the tenant in the lease transaction. Alex Grove and Kevin Grove of CBRE represented the landlord.
Industrial
Clarion Partners Provides Financing for 600,000 SF Industrial Property in Riverside, California
by Jeff Shaw
RIVERSIDE, CALIF. — Clarion Partners has provided a has provided a mezzanine loan that’s part of the acquisition financing package collateralized by an industrial building in Riverside. An affiliate of Societe Generale arranged the $10 million mezzanine loan subordinate to a $70 million senior loan. The Class A, 600,000-square-foot facility is fully leased and serves as the headquarters for a third-party logistics provider.
FORT WORTH, TEXAS — Lee & Associates has negotiated an 87,876-square-foot industrial lease at Champions Circle Business Park in Fort Worth. The tenant, Optimas, which provides fasteners for industrial manufacturers, will occupy the entirety of Building 3 at the 361,040-square-foot development. Reid Bassinger and Nathan Denton of Lee & Associates represented the landlord, Hopewell Development, in the lease negotiations. Ben Gibbs and Clint Manning of Cresa represented the tenant.
MANASSAS, VA. — Regional grocer Giant Food has opened an 82,000-square-foot e-commerce fulfillment center in Manassas. The new facility allows Giant to expand its delivery service to 140 zip codes across Northern Virginia and support 200 new jobs. Giant is offering free delivery for orders made Tuesday through Thursday and for a $3.95 charge on the weekends, according to Gregg Dorazio, director of e-commerce at Giant. The grocer will continue to operate its other existing fulfillment center in Hanover, Md. Giant is headquartered in Landover, Md., and operates 165 supermarkets in Virginia, Maryland, Delaware and Washington, D.C., with approximately 20,000 associates.
AUSTIN, TEXAS — Houston-based Clay Development will build Mustang Ridge Distribution Center II, a 218,400-square-foot industrial project located on a 15-acre site in southeast Austin. Building features will include a rear-load configuration, 32-foot clear heights, an ESFR sprinkler system and parking for 233 cars and 38 trailers (expandable to 68). Raymond Construction is the general contractor for the project. The Austin office of Colliers will handle leasing of the project. Construction will begin later this month, with completion slated for April 2024.
HOUSTON — Partners Real Estate has brokered the sale of a portfolio of five single-tenant industrial buildings totaling 69,125 square feet in Houston. Cary Latham and Hunter Stockard of Partners represented the seller, AMAG Holdings LLC, in the transaction. Blake Deer and Carson Deer represented the buyer, Capital Real Estate Investments, on an internal basis.
SOUTH PLAINFIELD, N.J. — A partnership between locally based owner-operator Ridgecut Road and Boston-based investment group Marcus Partners has acquired an industrial building in the Northern New Jersey community of South Plainfield. According to LoopNet Inc., the 11,500-square-foot property at 456 Hollywood Ave. was built on 3.9 acres in 1984. The building was been owned and occupied by a crane rental and equipment business for the last 50 years. The sales price was not disclosed.
HUDSON, MASS. — SVN | Parsons Commercial Group | Boston has arranged the $2 million sale of a 10,750-square-foot industrial property in Hudson, about 40 miles west of Boston. The property comprises two buildings totaling 8,750 and 2,000 square feet on a 1.7-acre site at 561 Main St. Alex Wood of SVN | Parsons Commercial represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.
Greystar Breaks Ground on Phase I of Peoria Place Mixed-Use Property in Peoria, Arizona
by Jeff Shaw
PEORIA, ARIZ. — Greystar has broken ground on Peoria Place, a $500 million, mixed-use, master-planned project in Peoria. The first phase is a three-building, Class A industrial park that will be known as Caliber by Greystar. At build-out, Caliber will total 411,918 square feet of Class A product broken down as a 114,446-square-foot Building A, 122,863-square-foot Building B and 174,609-square-foot Building C. Buildings A and B will offer divisibility to serve a diversity of uses and tenant sizes. Peoria Place will eventually include luxury apartments, build-to-rent single-family homes, residential over retail, 20 acres of open space and the Caliber light industrial park, which is slated for completion in the second quarter of 2024. JLL serves as the project’s exclusive leasing broker.
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Dollar General Grows Supply Chain Network by 3.2 MSF With Five Distribution Facilities
by John Nelson
GOODLETTSVILLE, TENN. — Dollar General Corp. (NYSE: DG) has announced recent expansions in its supply chain network that will grow the discount retailer’s distribution footprint by more than 3.2 million square feet. The Goodlettsville, Tenn.-based company has recently opened three new facilities and announced expansions of two existing campuses that will support Dollar General’s traditional goods, as well as its DG Fresh line of groceries. “The recent additions to our supply chain network aim to provide greater efficiencies, create additional jobs and drive positive economic impact,” says Tony Zuazo, executive vice president of Dollar General’s global supply chain. “We’re excited to continue growing our distribution center network to further support store growth and to better serve our customers and local communities.” Dollar General recently opened an 800,000-square-foot distribution center in Blair, Neb., that is expected to create approximately 400 new jobs at full capacity. The $140 million development is the company’s first ground-up dual facility, meaning it features both traditional distribution space and cold storage. Dollar General plans to host a formal opening ceremony for the facility this summer. The company recently increased distribution center storage capacity by more than 2 million square feet by opening two new permanent regional facilities …