HOUSTON — NAI Partners has arranged the sale of an 82,053-square-foot industrial building located at 12218 Cutten Road in northwest Houston. According to LoopNet Inc., the single-tenant building was constructed in 2022. Travis Land and A.J. Williams of NAI Partners represented the seller, an entity doing business as Cutten Houston Investments LP, in the deal. Geoff Perrott and David Buescher of JLL represented the undisclosed buyer.
SALT LAKE CITY — GO Industrial, in partnership with a Crow Holdings Capital-advised real estate fund, has completed the disposition of 5600 | Logistics Southwest, a Class A industrial campus located at 1464 and 1568 S. 5500 West in Salt Lake City. The two buildings offer a total of 505,692 square feet. CBRE | National Partners negotiated the deal for the sellers. Terms of the transaction were not released. Situated on 14.9 acres, the 265,120-square-foot Building A features 32-foot clear heights, 50 dock-high doors, four grade-level doors, 177 car parking spaces and 72 trailer parking spaces. The 240,654-square-foot Building B features 32-foot clear heights, 46 dock-high doors, four grade-level doors, 158 employee parking spaces and 62 trailer spaces on 13.2 acres. Layton Construction’s National Building Group recently completed the buildings, which AE Urbia designed. CBRE’s Chris Liddell, Tom Dishman and Matt McAfee are leasing agents for the project.
ALLENDALE, N.J. — Black Bear Capital Partners (BBCP) has arranged a $44 million permanent loan for Allendale Corporate Center, a 389,000-square-foot industrial complex in Northern New Jersey. The center comprises six buildings that are leased to tenants such as Martab Medical, Bosch/Syntegon Pharma Tech, Alan Baird Industries Inc, Acuitive and Collagen Matrix. Emil DePasquale of BBCP arranged the 10-year, fixed-rate loan, which carried a 65 percent loan-to-value ratio, through Morgan Stanley.
GOODYEAR, ARIZ. — A joint venture between Clarius Partners and Walton Street Capital has completed the sale of Lakin Park Building 1A, a big-box distribution building on 45 acres in Goodyear. BentallGreenOak acquired the asset for $109.2 million. Located at 17315 W. MC 85, the 730,760-square-foot facility features 40-foot clear heights, a full HVAC warehouse, 70-foot speed bays, 200-foot concrete truck courts, r-38 roof insulation, ESFR sprinklers, multiple points of ingress and egress, 120 dock-high doors, 171 trailer parking stalls and 6,000 amps (expandable to 12,000 amps) of power. Delivered in first-quarter 2022, a single tenant fully occupies the property. Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s national industrial advisory group represented the seller in the transaction. Mike Haenel and Andy Markham, also of Cushman & Wakefield, provided leasing advisory.
LONGVIEW, TEXAS — Gap Inc. (NYSE: GPS) has opened an 850,000-square-foot distribution center in Longview, about 120 miles east of Dallas. The facility is the San Francisco-based apparel retailer’s seventh in North America and first in Texas. With the opening of this center, Gap expects to hire roughly 500 full-time employees by the end of 2023 and 1,000 part-time and seasonal workers by 2026. Construction began in early 2021, at which time the company valued the total capital investment at $140 million.
HOUSTON — ICC Cable Corp., a provider of wiring and cable services for the energy and construction industries, has signed a 59,376-square-foot industrial lease at 10300 FM 1960 Road in northwest Houston. Cotton Munson of Davis Commercial Real Estate represented the tenant, which is relocating from a smaller space on North Sam Houston Parkway, in the lease negotiations. Michael Foreman of Cushman & Wakefield represented the undisclosed landlord.
GLASGOW, DEL. — DuPont Semiconductor Technologies, a division of DuPont Electronics & Industrial, will undertake a $50 million industrial expansion project in the northern Delaware city of Glasgow. The 385,000-square-foot facility will be used for the fabrication, packaging and assembly of materials used in semiconductors that support numerous electronics-based industries. About 70 employees from DuPont’s existing facility in nearby Newark will staff the new plant along with 10 or so new hires. The company expects its new facility to be operational by the first quarter of 2024.
HUDSON, NASHUA AND MANCHESTER, N.H. — Cushman & Wakefield has brokered the $69 million sale of a portfolio of four southern New Hampshire industrial buildings totaling 593,000 square feet. The properties are specifically located in Hudson, Nashua and Manchester and were 94 percent leased to 18 tenants at the time of sale. Dave Pergola, Brian Doherty, Pete Rogers, Tom Farrelly, Denis Dancoes and Sue Ann Johnson of Cushman & Wakefield represented the seller, Albany Road Real Estate Partners, in the transaction. Tom Sullivan, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Dallas-based Lincoln Property Co.
ASHLAND, VA. — Merritt Properties has acquired Crescent Business Center, a five-building industrial park totaling 262,256 square feet in Ashland, about 10 miles north of Richmond. An affiliate of Thalhimer Realty Partners Inc. doing business as Crescent Business Center LC sold the asset for $41.3 million. Eric Robison of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Crescent Business Center is situated along I-95 on 20 acres and features an additional 19 acres for future development. The park was fully leased at the time of sale to tenants including Trane U.S., Electronic Systems, Motion Industries and Sunbelt Rentals.
PLAINFIELD, IND. — Rhenus Logistics has signed a 139,820-square-foot industrial lease at Gateway Business Park in the Indianapolis suburb of Plainfield. The lease transaction with the global logistics provider marks the lease-up of the entire seven-building industrial park, which is owned by Chicago-based HSA Commercial Real Estate. Headquartered in Germany, Rhenus Logistics operates across Europe, Asia, South America and the U.S. Plainfield will be the first Midwest location for the company. Nick Wigoda and Matt Kiger of Newmark represented the tenant, while Terry Busch and Jared Scaringe of CBRE represented ownership.