LITTLETON, COLO. — NavPoint Real Estate Group has brokered the sale of a light industrial property located at 8101 Midway Drive in Littleton. DCP Midway LLC acquired the building from Pavco Group for $6.9 million. The fully climate-controlled, 48,820-square-foot property features outside storage and oversized drive-in doors. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the buyer, while Tyler Carner of CBRE represented the seller in the deal.
CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine. Michael Aragona is the project architect.
CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine level. Michael Aragona is the project architect.
MADISON HEIGHTS, MICH. — Meal kit company Hello Fresh has signed a 28,800-square-foot industrial lease at 32701 Edward Ave. in Madison Heights, a northern suburb of Detroit. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Colin McCausland of JLL represented the tenant in the five-year lease.
MADISON HEIGHTS, MICH. — Meal kit company Hello Fresh has signed a 28,800-square-foot industrial lease at 32701 Edward Ave. in Madison Heights, a northern suburb of Detroit. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Colin McCausland of JLL represented the tenant in the five-year lease.
SAN ANTONIO — Kansas City-based NorthPoint Development will build Foster Commerce Center, a 2.2 million-square-foot industrial park that will be located about 10 miles east of downtown San Antonio. The six-building development will be constructed in phases, with the initial phase comprising two buildings totaling 650,000 square feet. NorthPoint Development expects the project to entail a total capital investment of $230 million and to create more than 1,000 new permanent jobs in addition to about 950 construction jobs. Construction is scheduled to begin before the end of the summer. Stream Realty Partners has been tapped to lease the development.
AUSTIN, TEXAS — JLL has negotiated the sale of Woodland Self Storage, a 952-unit facility located south of downtown Austin along I-35. The 92,288-square-foot, climate-controlled facility was built in 2019 and was 70 percent occupied at the time of sale. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Utah-based REIT Extra Space Storage purchased the asset for an undisclosed price.
LIVERPOOL, N.Y. — A joint venture between New York-based Taconic Capital Advisors and Friedman Real Estate has purchased three industrial buildings totaling 831,000 square feet in Liverpool, a suburb of Syracuse. The properties were acquired as part of a $46 million portfolio sale that included a 407,000-square-foot distribution center in Waterford, Mich. Rite Aid Corp. sold the buildings and will continue to lease back the space at two of the three buildings as distribution centers for its e-commerce platform. The third building, which is the smallest of the trio at 87,000 square feet, remains vacant. As part of the transaction, the joint venture also purchased more than 50 acres for possible future expansion.
LIVERPOOL, N.Y. — A joint venture between New York-based Taconic Capital Advisors and Friedman Real Estate has purchased three industrial buildings totaling 831,000 square feet in Liverpool, a suburb of Syracuse. The properties were acquired as part of a $46 million portfolio sale that included a 407,000-square-foot distribution center in Waterford, Mich. Rite Aid Corp. sold the buildings and will continue to lease back the space at two of the three buildings as distribution centers for its e-commerce platform. The third building, which is the smallest of the trio at 87,000 square feet, remains vacant. As part of the transaction, the joint venture also purchased more than 50 acres for possible future expansion.
FORT MYERS, FLA. — Stonemont Financial Group and joint venture partner Geis Cos. have closed on their purchase of 35 acres in Fort Myers for the development of a 500,000-square-foot, Class A industrial park. The project, known as Legacy at Oriole Road, is slated for completion in second-quarter 2023. The development will include two 250,000-square-foot warehouses designed to accommodate users as small as 37,000 square feet. The buildings will feature 32-foot clear heights, 72 trailer parking stalls and above-standard bay spacing. The property offers proximity to I-75, Route 41 and other major thoroughfares.
