Industrial

VanTrust Real Estate Completes 246,400 SF Industrial Building at Tropical Distribution Center in North Las Vegas

by Amy Works September 1, 2022

NORTH LAS VEGAS, NEV. — VanTrust Real Estate has completed construction of a fourth building at the 120-acre, 1.6 million-square-foot Tropical Distribution Center in North Las Vegas. Designed by HPA Architecture, Tropical IV totals 246,400 square feet of Class A industrial space with convenient access to interstates 15 and 215 via Tropical Parkway. The building features 36-foot clear heights with 43 dock-high doors and two grade-level doors, as well as a large truck court, 51 trailer parking spaces and 203 automobile parking spaces. Martin-Harris Construction served as general contractor for the project.

September 1, 2022

Development Industrial Loans Washington Western

Gantry Arranges $18M Construction Loan for Spec Industrial Development in Pacific, Washington

by Amy Works September 1, 2022

PACIFIC, WASH. — Gantry has secured a $18 million construction-to-permanent loan for the speculative development of an industrial property in Pacific. Situated on 12 acres, the property will feature 160,000 square feet of industrial space. Construction began in second-quarter 2022 and completion is slated for early 2023. Mike Wood and Alex Saunders of Gantry arranged the financing for the borrower, Davis Property Investment. A regional bank provided the seven-year loan with a fixed, sub-4.4 percent interest rate. The financing features an initial two-year interest-only payment period before moving to a 30-year amortization for the remaining term. The initial funding is for $15 million to complete construction, with an additional $3 million earn-out upon lease up and stabilization of the project.

September 1, 2022

Development Industrial Texas

Molto Properties Breaks Ground on 604,064 SF Industrial Project in Metro Austin

by Taylor Williams August 31, 2022

GEORGETOWN, TEXAS — Chicago-based developer Molto Properties has broken ground on Blue Springs Business Park, a 604,064-square-foot industrial project in the northern Austin suburb of Georgetown. Blue Springs Business Park will consist of three cross-dock and rear-load buildings ranging in size from 124,914 to 310,366 square feet. The structures will be situated on a 43-acre site less than half a mile from I-35. Building features will include 32- to 36-foot clear heights, 180- to 210-foot truck court depths, ESFR sprinkler systems and combined parking for 580 cars and 90 trailers. Burton Construction is the general contractor for the project, which is slated for a second-quarter 2023 completion. Transwestern has been tapped to lease the development, which is Molto Properties’ first in Central Texas.

August 31, 2022

Development Industrial North Carolina Southeast

Toyota Announces $2.5B Expansion, 350 New Jobs at North Carolina Battery Manufacturing Plant

by John Nelson August 31, 2022

LIBERTY, N.C. — Automotive giant Toyota Motor Corp. has announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC) in Liberty. This investment adds capacity to support battery electric vehicle (BEV) battery production and will add 350 jobs, bringing the total employment at the campus to approximately 2,100 and the total investment to $3.8 billion. Scheduled to begin production in 2025, the new facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.

August 31, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 580-Unit Self-Storage Facility in Troy, Texas

by Taylor Williams August 31, 2022

TROY, TEXAS — Marcus & Millichap has brokered the sale of Trojan Self Storage, a 580-unit facility in Troy, located south of Waco in Central Texas. The facility spans 87,480 net rentable square feet. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were private investors that requested anonymity, in the transaction.

August 31, 2022

Development Industrial Northeast Pennsylvania

Trammell Crow Breaks Ground on 588,000 SF Industrial Project in Lehigh Valley

by Taylor Williams August 31, 2022

BETHLEHEM, PA. — Dallas-based Trammell Crow Co. has broken ground on Lehigh Valley Trade Center III, a 588,000-square-foot industrial project in the Eastern Pennsylvania city of Bethlehem. The project comprises two single-story buildings that are expected to be complete in late 2023. Trammell Crow Co. is also nearing completion of Lehigh Valley Trade Center II, a 527,000-square-foot, cross-dock facility that features a clear height of 40 feet, 119 dock doors, 250 car parking spaces and 154 trailer parking spaces. Trammell Crow is developing both properties in partnership with New York-based Clarion Partners. Peak Construction is serving as the general contractor for the project, and KSS Architects is designing the facility.

August 31, 2022

Acquisitions Florida Industrial Southeast

Westmount Realty Capital Sells 246,818 SF Refrigerated Warehouse in St. Augustine, Florida

by John Nelson August 30, 2022

ST. AUGUSTINE, FLA. — Westmount Realty Capital has sold a 246,818-square-foot refrigerated warehouse located at 4055 Deer Park Blvd. in St. Augustine. Built on 25 acres in 1994, the property was fully leased at the time of sale to KeHE Distributors, a national wholesale food distributor. The firm has been a tenant at the Deer Park facility since 2008. The buyer and sales price were not disclosed.

August 30, 2022

Acquisitions Industrial Maryland Southeast

Cushman & Wakefield Arranges Sale of 200,000 SF Industrial Property in Baltimore

by John Nelson August 30, 2022

BALTIMORE — Cushman & Wakefield has arranged the sale of a 200,000-square-foot warehouse at 3501 E. Biddle St. in Baltimore. The 36-acre site is situated near the Port of Baltimore, I-95 and I-895 and includes two acres of available land for leasing. Metro Chicago-based Industrial Outdoor Ventures (IOV) purchased the property from SK Realty for an undisclosed price. Jonathan Carpenter, Graham Savage and McLane Fisher of Cushman & Wakefield represented IOV in the transaction. The warehouse was fully leased to three tenants at the time of sale.

August 30, 2022

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Arranges 38,353 SF Industrial Lease in North Dallas

by Taylor Williams August 30, 2022

DALLAS — Lee & Associates has arranged a 38,353-square-foot industrial lease at 9755 Clifford Drive in North Dallas. According to LoopNet Inc., the property was built in 2001 and spans 114,400 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.

August 30, 2022

Acquisitions Industrial Texas

Colliers Brokers Sale of 10,575 SF Industrial Property in Rosharon, Texas

by Taylor Williams August 30, 2022

ROSHARON, TEXAS — Colliers has brokered the sale of a 10,575-square-foot industrial property in Rosharon, located south of Houston. Built in 2008, the crane-served complex consists of a main warehouse with office space, break rooms and a conference room, as well as a 1,200-square-foot outbuilding. Christopher Winters and Walter Menuet of Colliers represented the seller, Glenmorangie LLC, in the transaction. The buyer was not disclosed

August 30, 2022

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