CARROLLTON, TEXAS — Lee & Associates has negotiated a 165,050-square-foot industrial lease at 2080 McDaniel Drive in the northern Dallas suburb of Carrollton. The tenant, alcoholic beverage provider Buzzballz, is expanding from its 125,000-square-foot space at the adjacent facility at 2020 McDaniel Drive. Nathan Denton of Lee & Associates represented the tenant in the negotiations for the full-building lease. Prologis owns the property, which was originally built in 1981, according to LoopNet Inc.
FORT WORTH, TEXAS — Streamline Packaging Solutions has signed a 92,098-square-foot industrial lease renewal at RiverPark Business Center in Fort Worth. The development consists of two buildings totaling 500,635 square feet on a 25-acre site, and Streamline Packaging has been a tenant since 2011, occupying space at the 355,238-square-foot Building B. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business Center LP, in the lease negotiations. Scott Miller of Bolanz & Miller Realtors Inc. represented the tenant.
READING, PA. — Steel packaging manufacturer Can Corp. of America has signed a 114,550-square-foot industrial lease at Route 61 Distribution Center in Reading, about 65 miles northwest of Philadelphia. The building at 184 Tuckerton Road spans 392,030 square feet and is now fully leased. Paul Touhey, Sean Bleiler and Abraham Kromah of CBRE represented the landlord, Endurance Real Estate, in the lease negotiations. The tenant representative was not disclosed.
BENSALEM, PA. — Locally based investment firm Velocity Venture Partners has acquired a 94,280-square-foot industrial property in Bensalem, about 20 miles northeast of Philadelphia. ProCorr Display & Packaging, a manufacturer of corrugated boxes and other packaging materials, occupies the entirety of the building at 2260 State Road, which features a clear height of 20 feet and three drive-in doors. Carl Neilson and Andrew McGhee of Colliers represented the undisclosed seller in the transaction and procured Velocity as the buyer.
MIDDLETON, MASS. — Kenworth Northeast, a New York-based truck dealer, will open a 34,000-square-foot automotive showroom in Middleton, a northern suburb of Boston. The space will feature a full sprinkler system, LED lights, 11 service bays, a fabrication area, component rebuild area and a state inspection bay. Locally based firm Polar Design Build has been tapped as the general contractor for the project, which will be designed by Maugel DeStefano Architects. The opening is scheduled for spring 2024.
SAN BERNARDINO, CALIF. — Kidder Mathews has arranged the sale of the seven-building Gifford Business Park in San Bernardino for $26 million. The multi-tenant industrial property is located at 750-760 East Central Ave. and 765-791 South Gifford Ave., 2.5 miles from San Bernardino International Airport. It was built in 1989. The seller, Positive Investments, undertook capital expenditures, including roof replacement on five of the seven buildings, exterior paint on the entire property and parking lot re-slurry. The business park is currently 93 percent leased with more than 50 tenants. In-place rents are nearly 20 percent below market rates. Alan Pekarcik of Kidder Mathews represented the seller, while Christopher Smith of Colliers represented the buyer, MIG RE Investors I LLC, in the transaction.
RENO, NEV. — Alston Construction has broken ground on TRIC 688 West Building 3, an 815,360-square-foot speculative tilt warehouse/distribution facility in Reno. The project is the first building for Locus Development Group’s planned 200-acre campus. The project will allow for increased economic activity in an underdeveloped area with unused land. Valued at $47 million, construction on Building 3 is scheduled for completion in January 2024.
FONTANA, CALIF. — Alere Property Group has purchased a 17.4-acre site in Fontana for $38.9 million. Located at 13592 Slover Ave., just off Interstate 10 between North Etiwanda and Cherry avenues, the site is entitled for two Class A warehouse distribution buildings totaling about 350,000 square feet. Alere plans to develop the property in 2024 and offer the buildings for lease. Richard Lee, Nicholas Chang, Justin Kuehn and Sione Fua of the Lee Chang Kuehn Fua Group of NAI Capital Commercial’s Ontario office represented both Alere and the seller, CP Fontana, in the transaction.
POWAY, CALIF. — SENTRE has acquired Parkway Commerce Center, a 147,907-square-foot, multi-tenant industrial park in Poway, for $21.4 million. The facility comprises two warehouse/distribution buildings and two industrial/flex buildings, which are leased to a diverse roster of tenants. The property features 19- to 25-foot clear heights and a total of 21 dock-high doors, 36 drive-in doors and 316 parking spaces. JLL’s Bob Prendergast, Lynn LaChapelle, Ryan Spradling and Zach Saloff represented the seller, an institutional investor.
ORANGE, CALIF. — MCA Realty has sold Struck Business Park, a 42,750-square-foot, two-building industrial property in Orange, for $13.5 million. The all-cash buyer utliized a 1031 Exchange for the transaction. Struck Business Park features 16 industrial units ranging from 1,461 square feet to 11,420 square feet. It is located at 1523 & 1547 W. Struck Ave. MCA purchased the asset in August 2021 and repositioned the property. This included a new paint scheme, landscape upgrades, asphalt repairs and new signage. Mike Hefner, Hayden Socci and Tom Terry of Voit Capital Markets team arranged the sale.