LAS VEGAS — DXD Capital has completed development of a 991-unit self-storage facility at 7435 West Sahara Ave. in Las Vegas. The company acquired the 1.7-acre parcel in January 2021. The development features two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators, in addition to a storefront with moving supplies. Studio Level 1 designed the property, with Arco Murray as the general contractor. Public Storage is the operator.
HOUSTON — The Detering Co., a family-owned supplier of building materials, has signed a 100,000-square-foot industrial lease at 1919 Collingsworth St., about three miles north of downtown Houston. According to LoopNet Inc., the property was built in 2001 and features 30- to 36-foot clear heights, 25 dock doors and additional acreage for trailer storage. John Milam of Fritsche Anderson Realty Partners represented the tenant, which plans to operate a lumber business at the property, in the lease negotiations. Chris Haro of Partners Real Estate represented the landlord, American Warehouses.
CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has arranged the sale of a 34,165-square-foot industrial property in Corpus Christi. The property consists of four buildings on a 13.6-acre site that formerly housed the operations of Orion Drilling Co., the seller of the property that previously filed for bankruptcy. John Foret of Cravey Real Estate Services represented the buyer, CoFlow Compression LLC, in the transaction. George Clower of Clower Co. represented Orion Drilling.
PALM COAST, FLA. — Axiom Capital Corp. has arranged a $3.1 million bridge loan for the refinancing of an industrial property located in Palm Coast. Totaling 139,801 rentable square feet — 18 percent of which is office space — the development comprises one single-story building and 228 parking spaces on 17.4 acres. The property features clear heights of 21 to 30 feet, a Halon Fire Protection System and two generators. The ownership plans to subdivide the office space for leasing.
CHICAGO — Masterpiece International has signed a 75,072-square-foot, full-building industrial lease at 2601 Lively Blvd. in the Chicago suburb of Elk Grove Village. The international freight forwarder and logistics provider is combining three locations into one space. Jim Pietrarosso of Brown Commercial Group represented the tenant. Sam Durkin and Phil Reiff of JLL represented the landlord, ML Realty Partners.
FORNEY, TEXAS — Third-party logistics provider Hayes Co. has signed a 900,000-square-foot industrial lease at Forney Logistics Crossing, located on the eastern outskirts of Dallas. According to commercialcafé.com, the property was built on 42 acres in 2022. Greg Nelson of Paladin Partners represented Kansas-based Hayes Co. in the negotiations for the full-building lease. Nathan Lawrence and Krista Raymond at KBC Advisors represented the landlord, a partnership between Stillwater Capital and Grandview Partners.
MISSOURI CITY, TEXAS — Partners Real Estate, the locally based investment and brokerage firm formerly known as NAI Partners, has negotiated a 56,970-square-foot industrial lease at 13615 S. Gessner Road in Missouri City, a southwestern suburb of Houston. According to LoopNet Inc., the property was built in 2014 and totals 123,300 square feet. Chris Caudill of Partners represented the tenant, 2020 Exhibits, a provider of products and services for tradeshow events, in the lease negotiations. Lexie Curry represented the landlord, EQT Exeter, on an internal basis.
BINGHAM FARMS, MICH. AND NEW YORK CITY — Newmark has arranged $240 million in joint venture financing on behalf of Bingham Farms-based Burton-Katzman and New York City-based DRA Advisors for the recapitalization of 24 light industrial properties in the Midwest. The portfolio totals more than 2.2 million square feet and is 99 percent leased. With over 40 tenants on the rent roll, no tenant occupies more than 15 percent of the portfolio’s total square footage. The venture will target value-add returns by acquiring industrial assets across the Midwest where rents are below market. Jordan Roeschlaub, Dustin Stolly and Eden Abraham of Newmark arranged the venture and financing, while Daniel Canvasser of Newmark provided regional support. Roeschlaub, Stolly and colleague Chris Kramer arranged a $150 million acquisition loan. Burton-Katzman is a fully integrated real estate company with an emphasis on the industrial market. DRA Advisors is an investment advisor specializing in real estate investment and management services for institutional and private investors.
VERNON HILLS, ILL. — Colliers has brokered the sale of a 68,279-square-foot industrial warehouse in the Chicago suburb of Vernon Hills for an undisclosed price. Built in 1996 and located at 220 N. Fairway Drive, the property features eight interior loading docks, one drive-in door, six trailer parking stalls and 75 car parking stalls. There is also 7,390 square feet of office space. Ned Frank and Pat Hake of Colliers represented the undisclosed seller. Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented the buyer, frozen pizza maker Roncadin.
LEXINGTON, N.C. — Siemens Mobility, a manufacturer of passenger trains and a subsidiary of Siemens AG, plans to invest $220 million for a new manufacturing and rail service facility in Lexington, a city in North Carolina’s Triad region. The investment is expected to create 500 new jobs. At the facility, Siemens Mobility expects to produce passenger trains for the North American market. The passenger coach manufacturing factory, as well as Siemens Mobility’s locomotive and passenger coach overhauls facility, will be situated on a 200-acre site that allows for future expansion. When it starts operations in 2024, the plant will incorporate tech found in the firm’s sister facility in Sacramento, including robotic welding, 3D printing and Virtual Reality welder training. Siemens Mobility cites the Bipartisan Infrastructure Law as being a critical legislation for bringing federal funding for the project. Additionally, Siemens Mobility will be receiving a Job Development Investment Grant from the State of North Carolina. Siemens AG has invested more than $40 billion in its U.S. operations in the past two decades. The company staffs 45,000 employees in the United States and operates 21 manufacturing facilities that service more than 100 cites and 90 percent of Fortune 500 industrial companies.
