Industrial

Electric Owl Studios to Open 312,000 SF Film, TV Studio in Atlanta

by John Nelson May 3, 2023

ATLANTA — Electric Owl Studios plans to open a 312,000-square-foot film and TV studio in Atlanta’s DeKalb County next month. Located at 3963 Redan Road near the Indian Creek MARTA station, the production facility is the only ground-up LEED Gold-certified studio campus in the world, according to Electric Owl. With six purpose-built sound stages and ancillary and parking space, the studio is large enough to support a tentpole feature film or two large-scale TV series. Electric Owl Studios was founded by former Third Rail Studios executives Dan Rosenfelt and Michael Hah. The Atlanta property is the debut studio for Electric Owl, which is currently developing a second studio on an 18-acre site in New York that is set to open in summer 2025.

May 3, 2023

Acquisitions Florida Industrial Southeast

RealOp Purchases 507,590 SF Industrial Property in Jacksonville in Sale-Leaseback Deal

by John Nelson May 3, 2023

JACKSONVILLE, FLA. — RealOp Investments, a private equity firm based in Greenville, S.C., has purchased two Class B warehouse buildings in Jacksonville totaling 507,590 square feet. As part of the sale-leaseback arrangement, the properties are 100 percent leased to Southeastern Toyota Distributors. At expiration of the three-year lease, RealOp plans to launch a comprehensive $7 million capital improvement and redevelopment program at the park. Located near the I-95 and Baymeadows Road interchange, the property represents RealOp’s seventh acquisition in Florida.

May 3, 2023

Acquisitions Development Industrial Midwest Wisconsin

Stream Purchases 90 Acres in Kenosha, Plans to Build 934,505 SF Spec Industrial Development

by Kristin Harlow May 3, 2023

KENOSHA, WIS. — Stream Realty Partners has purchased 90 acres at 10812 Burlington Road in Kenosha. The firm plans to build Somers Trade Center, a 934,505-square-foot speculative industrial development consisting of three buildings. The project site is less than a mile from the I-94 interchange and offers direct access to Chicagoland. Patrick Russo, Dale Todd and Drue Stoehr of Stream worked on the site selection and closing. Stream will partner with Cushman & Wakefield’s Eric Fischer, who will serve as the lead leasing broker. A timeline for completion was not provided.

May 3, 2023

Development Industrial Midwest Minnesota

United Properties Begins Development of New Headquarters for Minneapolis Glass in Brooklyn Park, Minnesota

by Kristin Harlow May 3, 2023

BROOKLYN PARK, MINN. — Developer United Properties has broken ground on a new 115,000-square-foot headquarters for Minneapolis Glass Co. in Brooklyn Park, a suburb of Minneapolis. The industrial development is named 610 Junction-West. Established in 1937, Minneapolis Glass is a glass and glazing fabrication company that provides manufacturing, installation and distribution services. The new headquarters will house expanded glass and metal fabrication, global sourcing and distribution facilities, administrative offices and a consumer showroom. All 100 full-time employees will move to the new space, and the company intends to hire additional positions. Completion is slated for 2024. Project partners include the City of Brooklyn Park, Lampert Architects, Sambatek and R.J. Ryan Construction.

May 3, 2023

Industrial Leasing Activity Texas

Partners Real Estate Arranges 52,622 SF Office Sublease in Northwest Houston

by Taylor Williams May 3, 2023

HOUSTON — Partners Real Estate has arranged a 52,622-square-foot office sublease at Remington Square, an office park in northwest Houston. Dan Boyles of Partners represented the sublessee, Patterson-UTI Energy Inc., which provides drilling and pressure pumping services, in the lease negotiations. Jon Williams and Kevin Saxe of CBRE represented the sublessor, Acclara Solutions, a provider of medical billing services. Locally based developer Caldwell Cos. owns Remington Square.

May 3, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 23,250 SF Industrial Lease in Dallas

by Taylor Williams May 3, 2023

DALLAS — Lee & Associates has negotiated a 23,250-square-foot industrial lease in the Lake Highlands area of Dallas. According to LoopNet Inc., the property at 11025-11035 Switzer Road was built on 4.4 acres in 1981 and features 22-foot clear heights, 13 exterior dock doors and 98 parking spaces. Brett Lewis and Ken Wesson of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. Andrew Johnson of Colliers represented the tenant, Logisticorp Wholesale Trade.

May 3, 2023

Development Industrial Texas

Koontz Corp. to Develop 188-Acre Industrial Project in San Antonio

by Taylor Williams May 2, 2023

SAN ANTONIO — Locally based developer Koontz Corp. will build Frontera Logistics Supersite, a 188-acre industrial project that will be located on the south side of San Antonio. Plans currently call for up to 2.8 million square feet of manufacturing and warehouse space across eight buildings with parking for 3,350 cars and 812 trailers. Carl Olson of Olson Properties represented the undisclosed sellers in the disposition of the land, which is an assemblage of 11 parcels. Koontz Corp. was self-represented in that transaction. Beaty Palmer Architects is designing the project, and Partners Real Estate has been appointed as the marketing and leasing agent. A construction timeline has not yet been finalized.

May 2, 2023

Acquisitions Industrial Texas

Partners Real Estate Arranges Sale of 60,680 SF Industrial Property in Pasadena, Texas

by Taylor Williams May 2, 2023

PASADENA, TEXAS — Locally based brokerage firm Partners Real Estate has arranged the sale of a 60,680-square-foot industrial property in the eastern Houston suburb of Pasadena. The multi-tenant facility sits on a 10.6-acre site at 3321-3411 Westside Drive. According to LoopNet Inc., the building rises two stories, was constructed in 1973 and has four drive-in doors. Clay Pritchett and Zane Carman of Partners represented the buyer, Grace Heritage Properties, in the transaction. The seller was also not disclosed.

May 2, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 29,105 SF Industrial Lease Renewal Near San Antonio

by Taylor Williams May 2, 2023

ELMENDORF, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 29,105-square-foot industrial lease renewal in Elmendorf, a southeastern suburb of San Antonio. According to LoopNet Inc., the property at 19940 I-27 S was built on 2.2 acres in 2013 and features 16- to 20-foot clear heights. Finial Group owns the building, and internal agents David Durham and Patrick Rubsamen negotiated the deal. Brian Schaffer of Realty Austin represented the tenant, Midwest Hose & Specialty, which serves the energy sector.

May 2, 2023

Development Industrial North Carolina Southeast

Beacon Partners Breaks Ground on 115,831 SF Industrial Building in Metro Raleigh

by John Nelson May 2, 2023

GARNER, N.C. — Beacon Partners has broken ground on 2000 Citation Drive, a 115,831-square-foot, Class A industrial building in the Raleigh suburb of Garner. Ann-Stewart Patterson and Austin Nagy of CBRE | Raleigh are handling leasing for Beacon. The project team also includes general contractor Choate Construction, Merriman Schmitt Architects and Advanced Civil Design. Atlantic Union Bank is providing an undisclosed amount of construction financing. Situated near the intersection of I-40 and Jones Sausage Road and two miles south of I-440, 2000 Citation Drive will feature 30-foot clear heights, full concrete truck courts and 180-foot building depths. The site is directly across I-40 from Beacon Commerce Park, a 48-acre, master-planned industrial park under development by Beacon Partners and HM Partners that features 631,000 square feet of distribution space.

May 2, 2023

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