EASTON, PA. — Los Angeles-based e-commerce firm GOAT Group has signed a 341,400-square-foot, full-building industrial lease in the Lehigh Valley city of Easton. The space is situated within First 33 Commerce Center and features a clear height of 32 feet, 140 car parking spaces, 75 trailer parking stalls and 3,950 square feet of office space. Mark Chubb, Michael Zerbe and Summer Coulter of Colliers represented the landlord, Chicago-based First Industrial Realty Trust, in the lease negotiations. The representative of the tenant was not disclosed.
CHICAGO — Logistics Property Co. (LPC) has received a $150 million loan for the construction of a multi-story warehouse at 1237 W. Division St. in Chicago. The project will span 1.2 million square feet of logistics space across two floors. Plans call for both rooftop parking and an adjacent five-story parking garage. The development will include direct loading on both the first and second floors, each with a 135-foot truck court. The first floor will feature a clear height of 36 feet, 28 dock doors and two drive-in doors. The second floor, which will be accessible by 53-foot tractor trailers via separate up and down ramps, will feature a clear height of 33 feet, 28 dock doors and two drive-in doors. The project marks the first multi-story warehouse in Chicago, according to LPC. A timeline for completion was not disclosed. Wells Fargo led the financing, along with Inland Bank and Trust and Associated Bank. Michael Svets and Jeff Goodman led the financing on behalf of Wells Fargo.
FRANKLIN PARK, ILL. — DarwinPW Realty has brokered the sale of a 102,950-square-foot industrial building formerly occupied by Dean Foods in the Chicago suburb of Franklin Park for an undisclosed price. The 10-acre property is located at 3600 River Road. Constructed in 1954, the building features eight exterior docks, eight drive-in doors, outdoor storage, trailer parking and a 10,000-square-foot cooler. Jerry Sullivan of DarwinPW, along with Axiom Advisors, represented the seller, an entity doing business as NDSM Franklin Park LLC. Jeffrey Provenza of DarwinPW and Brian Carroll of JLL represented the private buyer. The site is ripe for redevelopment, according to Provenza.
MIDDLETOWN, OHIO — Marcus & Millichap has arranged the $2.7 million sale of a 78,100-square-foot industrial building in Middletown, about 35 miles north of Cincinnati. The property is home to multiple tenants. Joshua Baker, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, an Ohio-based local investor. The team also procured the buyer, a New York City-based investment group.
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.
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.
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.
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.
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.
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.