ARLINGTON, TEXAS — Quality Honeycomb, a supplier of aircraft parts, has signed a 60,000-square-foot industrial lease at 624 107th St. in Arlington. According to commercialcafé.com, the single-tenant property was built on three acres in 1970. Scott Voelkel of Dickey Property Co. represented the tenant in the lease negotiations. Mark Graybill of Lee & Associates represented the undisclosed landlord.
MILWAUKEE — Crow Holdings has unveiled plans for the South Cargo Logistics Hub at Milwaukee Mitchell International Airport. The proposed, on-tarmac air cargo facility will total 288,000 square feet and feature 74 docks and 99 trailer stalls. Crow will develop the facility on behalf of the airport. David Prell and Scott Furmanski of CBRE will market the project for lease. The project, which is undergoing the approval process, is slated for completion in the second half of 2024. According to a news release, the proposed project would serve as an option for cargo tenants looking to avoid the much higher congestion and costs associated with centering operations out of the Chicago O’Hare International Airport. The project site was home to the 440th Air Reserve Base from the 1950s until July 2010 when it was formally deeded back to the county upon the closure of the base by the Department of Defense. The site has remained physically unchanged since then. The airport has been marketing the site to real estate developers for several years. Crow has led and financed all efforts to date and will continue to do so after the project progresses through permits and any potential remediation.
ELK GROVE VILLAGE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 94,262-square-foot industrial building in the Chicago suburb of Elk Grove Village. The acquisition was structured as a sale-leaseback. The sales price was undisclosed. Located at 2121 Landmeier Road and constructed in 1966, the building features a clear height of 18 feet, six exterior docks, four interior docks, two drive-in doors and parking for more than 100 cars and 10 trailers. Phil Reiff of JLL represented the undisclosed seller. VK Industrial VI LP is a partnership between Venture One and Kovitz Investment Group.
WAUSEON, OHIO — Franklin Street has arranged the sale of a 100-unit self-storage facility in Wauseon, about 30 miles west of Toledo. The sales price was undisclosed. Built in phases between 1989 and 1994, the value-add property features 10 parking spaces and newly installed security cameras. The transaction includes 0.3 acres of developable land for potential expansion. David Perlleshi and Frank DeSalvo of Franklin Street represented the seller, HZ Capital Partners LLC. Missouri-based On Track Storage, which currently operates facilities in Missouri and Kansas, was the buyer.
GONZALES, LA. — J.W. Logistics LLC, a last-mile delivery firm based in Texas, has signed a 30,120-square-foot lease at Pelican Point Commerce Center, a 32-acre industrial park in Gonzales. The tenant will occupy space at 8200 Highway 44, which fronts I-10 adjacent to the Louisiana Regional Airport. The facility features 16-foot clear heights, rear dock doors and surface parking spaces. The Gonzales site marks the third location for J.W. Logistics in Louisiana as the firm has existing locations in Baton Rouge and Shreveport. Kent McCoy of Centric Commercial represented the tenant in the lease negotiations. Todd Pevey represented the landlord, Baltimore-based St. John Properties, on an internal basis. St. John Properties is underway on the buildout of Pelican Point Commerce Center, which will span 265,000 square feet of flex industrial space upon completion. The developer has delivered approximately 100,000 square feet at the park to-date and is currently developing an 83,000-square-foot high-bay warehouse.
AUSTIN, TEXAS — JLL has negotiated the sale of Oak Hill Self Storage, a 709-unit facility in southwest Austin. The facility, which was built in 2019, comprises 93,813 net rentable square feet of primarily climate-controlled space. Brian Somoza, Steve Mellon, Adam Roossien and Matthew Wheeler of JLL represented the seller, Houston-based developer The Jenkins Organization, in the transaction. Utah-based REIT Extra Space Storage purchased the asset for an undisclosed price.
AUSTIN, TEXAS — Stream Realty Partners is underway on construction of Eastside Commerce Center, a 413,388-square-foot industrial project in southeast Austin. The 60.2-acre site is located across State Highway 71 from Austin-Bergstrom International Airport. The development will consist of seven buildings ranging in size from 26,440 to 109,572 square feet that will feature 28- to 32-foot clear heights and a total of 630 car parking spaces. Completion is slated for the first quarter of next year.
NEW HAVEN, CONN. — Marcus & Millichap has brokered the sale of a 64,418-square-foot self-storage development site in New Haven. The site is fully approved for the development of a four-story facility that will feature 45,525 net rentable square feet of climate-controlled space across 456 units. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
MAINE — Dallas-based investment firm MAG Capital Partners has acquired a 60,000-square-foot cold storage facility that is located in an undisclosed community in southern coastal Maine. MAG Capital Partners acquired the property, which primarily functions as a seafood processing facility, via a sale-leaseback in an off-market deal. Additional terms of the transaction were not disclosed.
BUDA, TEXAS — Stream Realty Partners is underway on construction of Buda Commerce Center, a 968,475-square-foot industrial project located on the southern outskirts of Austin. The development will consist of five buildings on a 70-acre site in Buda, with four structures having rear-load configurations and the fifth being a cross-dock facility. Buildings will feature 32- to 36-foot clear heights and dock-high loading doors. Construction began in the fourth quarter of 2022 and is slated for a late 2023 completion.