FORT WORTH, TEXAS — Third-party logistics firm Jorstin Transportation Services has signed a 62,656-square-foot industrial lease renewal and expansion in Fort Worth. The tenant has taken an additional 34,473 square feet of space at Everman Trade Center, a four-building, 457,745-square-foot development on the city’s south side. Thomas Grafton and Matt Carthey of Holt Lunsford Commercial represented the landlord, Boston-based Cabot Properties, in the lease negotiations.
CHARLOTTE, N.C. — Lincoln Property Co. has purchased Airpark West, a four-building, 626,061-square-foot industrial park located off Air Park West Drive in Charlotte. Toronto-based BentallGreenOak sold the infill park for an undisclosed price. Dave Andrews, Pete Pittroff, Patrick Nally and Zach Lloyd of JLL represented the seller in the transaction. Located adjacent to the I-85 and I-485 interchange, Airpark West was fully leased to multiple tenants at the time of sale. The development was completed in phases between 2007 and 2019 and is situated within a few miles from Charlotte Douglas International Airport and the Norfolk Southern CLT Intermodal Terminal.
AZLE, TEXAS — Marcus & Millichap has brokered the sale of Azco Center Point Storage, an 276-unit facility in Azle, located northwest of Fort Worth. The facility spans 37,228 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local investment group, and procured the buyer, a private partnership, in the transaction.
FORT WORTH, TEXAS — Locally based energy firm SPM Oil & Gas has signed a 168,017-square-foot industrial lease renewal at Railhead Industrial Park in Fort Worth. The 633-acre development is located at the corner of Northeast Loop 820 and Blue Mound Road on the city’s north side. George Jennings and Matt Carthey with Holt Lunsford Commercial represented the landlord, James Campbell Co., in the lease negotiations. George Curry of JLL represented the tenant.
TOTOWA, N.J. — Illinois-based investment firm Venture One Real Estate and Kovitz Investment Group have acquired a 67,048-square-foot industrial building in the Northern New Jersey community of Totowa. The building at 5 Taft Road, which was fully leased at the time of sale, features a clear height of 20 feet, six exterior docks, two drive-in doors and additional outdoor storage space. Jeffrey Fulton and Ed Schein of Team Resources represented Venture One in the transaction. The seller and sales price were not disclosed.
BURNSVILLE, MINN. — CBRE has arranged the sale of the DuPont Distribution Center in Burnsville, about 15 miles south of downtown Minneapolis. The sales price was undisclosed. The 177,153-square-foot industrial property is fully occupied by four tenants and features fenced and paved outdoor storage. Judd Welliver and Bentley Smith of CBRE represented the seller, Biynah Industrial Partners LLC. Sterling Management was the buyer.
CALIMESA, CALIF. — Birtcher Development has received full entitlement for Birtcher Oak Valley Commerce Center in Calimesa. Construction is currently underway, with completion slated for third-quarter 2024. Totaling 2.25 million square feet, Birtcher Oak Valley Commerce Center will feature four Class A logistics facilities: Building A, a 705,783-square-foot cross-dock facility with 5,600 square feet of office space and 118 dock-high doors. Completion is scheduled for second-quarter 2024. Building B, a 46,172-square-foot side-loaded property with 5,168 square feet of office space and 69 dock-high doors. Completion is slated for second-quarter 2024. Building C, a 457,257-square-foot cross-dock facility with 5,114 square feet of office space and 78 dock-high doors. Completion is expected in early third-quarter 2024. Building D, a 619,358-square-foot cross-dock building with 5,162 square feet of office space and 109 dock-high doors. Completion is scheduled for third-quarter 2024. All four facilities will feature 40-foot clear heights, flat floors, 10-inch slabs, a minimum of 185-foot truck courts and an ESFR sprinkler system. A nine-acre trailer lot will be constructed adjacent to Buildings A and B, providing 250 trailer stalls. Mike McCrary, Peter McWilliams, Patrick Wood and Scott Coyle of JLL are handling leasing for the project.
ROGERS, MINN. — NAI Legacy and NAI Sioux Falls have arranged the $2.4 million sale of a 40,656-square-foot industrial building in Rogers, a northwest suburb of Minneapolis. The multi-tenant property is located at 21040 Commerce Blvd. and sits on three acres. Michael Houge of NAI Legacy and Troy Fawcett of NAI Sioux Falls brokered the transaction. Buyer and seller information was not provided. The existing tenants are now governed by a master lease.
RICHMOND HILL, GA. — Hyundai Mobis, an automotive supplier based in South Korea, plans to invest $926 million for a new manufacturing facility near Hyundai’s previously announced electric vehicle and battery campus in Bryan County. Situated near the Port of Savannah, the new 1.2 million-square-foot facility will employ at least 1,500 people once fully operational. The project is located within the Georgia Ready for Accelerated Development (GRAD) Certified Belfast Commerce Park in Richmond Hill. Hyundai Mobis will supply electric vehicle power electric systems and charging control units to the mega Hyundai plant nearby and in Montgomery, Ala., as well as the Kia plant in West Point, Ga. Hyundai Mobis is the “parts and services” arm for South Korean auto giants Hyundai, Genesis Motors and Kia. The company has had an operational base near the Kia plant since 2009. The new Bryan County facility is expected to break ground in 2023 and begin operations in 2024.
LEWISVILLE, TEXAS — CBRE has negotiated the sale of Bison Grove Business Park, a 900,000-square-foot industrial complex located in the northern Dallas suburb of Lewisville. The development consists of four buildings on a 62-acre site that were 78 percent leased at the time of sale. Building features include 32-foot clear heights and ESFR sprinkler systems. The buyer, Chicago-based investment and development firm CenterPoint Properties, also plans to add speculative office space. Randy Baird led the transaction for CBRE. The seller was not disclosed.