HOBOKEN, N.J. — Faropoint, an investment firm based in Northern New Jersey, has acquired six warehouses totaling approximately 550,000 square feet that are located throughout the Dallas-Fort Worth metroplex. The aggregate sales price was $59 million. The properties range in size from 40,116 to 245,300 square feet and were all fully leased at the time of sale. Cushman & Wakefield, Citadel Partners, Finial Group, Mercer Co. and Stream Realty Partners represented the various sellers of the properties, all of which were private investment groups that requested anonymity.
EL PASO, TEXAS — Logistics firm Avanza Loop Inc. has signed a 128,754-square-foot industrial lease at 12431 Mercantile Ave. in El Paso. The space is located within Building 1 of El Paso Logistics Park, a 59-acre development by Kansas City-based VanTrust Real Estate. PSRBB Industrial Group designed Phase I of the project, which was completed in September 2021, and Jordan Foster Construction served as the general contractor. Bill Caparis and Arturo De la Mora of CBRE represented the landlord in the lease negotiations. De la Mora also represented the tenant.
GEORGETOWN, TEXAS — NAI Partners has negotiated a 20,800-square-foot industrial lease at 4045 Airport Road in Georgetown, a northern suburb of Austin. According to LoopNet Inc., the property is currently under construction and will span 58,312 square feet upon completion. Troy Martin of NAI Partners represented the tenant, Liber & Co., which supplies non-alcoholic syrups for the beverage industry, in the lease negotiations. Local brokers Ken Mongold and Michael Johnson represented the landlord, Headwater Capital.
RANDOLPH, STOUGHTON AND FOXBOROUGH, MASS. — Newmark has brokered the sale of a portfolio of five industrial facilities totaling 295,602 square feet that are situated on the southern outskirts of Boston. Three of the facilities are located in Randolph, one is in Stoughton and one is located in Foxborough. At the time of sale, the portfolio was 75 percent leased to nine tenants. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Brian Pinch, Samantha Hallowell and Allie Percoco of Newmark represented the seller, a partnership between Wheelock Street Capital and The Seyon Group, in the transaction. The team also procured the buyer, Ares Management.
GAINESVILLE, GA. — Farming and construction machinery producer Kubota North America Corp. has unveiled plans for a $140 million expansion of its 280-acre research and development (R&D) center in Gainesville, approximately 50 miles northeast of Atlanta. The center opened in April of this year and currently includes engineering offices, workshops and testing labs, alongside outdoor tracks for testing turf, utility vehicles, tractors and construction equipment. Construction of the expansion is scheduled to begin later this year and will include the development of a building dedicated to broadening production and loader capacity to meet growing market demands, while freeing up space at the company’s existing facility in nearby Jackson County. “Through further investments like these, our supply chain continues to evolve to better meet the needs of our sister-company partners and Kubota dealers,” says Brian Arnold, president of Kubota Manufacturing of America. “With this expansion our production capacity will almost double and, at the same time, we will improve our quality and efficiency through innovations in welding and painting technologies.” The project is slated for completion in 2024, bringing with it more than 500 new manufacturing jobs at the facility. Kubota North America employs more than 3,000 team members across its manufacturing, …
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 69,590-square-foot industrial lease at Valwood Trade Center in the northern Dallas metro of Carrollton. Andrew Gilbert and Keaton Brice of Holt Lunsford represented the landlord, Boston-based TA Realty, in the lease negotiations. Steven Berger of CBRE represented the tenant, crating and packaging firm DGM Services Inc.
DALLAS — Embroidery Graphix, a locally based company that manufactures personalized apparel, has signed a 12,649-square-foot industrial lease at 1489 Prudential Drive in northwest Dallas. Sean Smith, Brendan Zrowka and Lauren Pesqueda of Whitebox Real Estate represented the tenant in the lease negotiations. Jason Moser of Stream Realty Partners represented the undisclosed landlord.
ALSIP, ILL. — Logistics company Alsip Terminals has selected Principle Construction Corp. to build a 39,000-square-foot speculative warehouse in Alsip. Construction is expected to begin soon on the property, which will be located at 3600 W. 127th St. The project will feature a clear height of 26 feet, 32 dock doors, six drive-in doors, 111 trailer parking spaces and 40 car parking stalls. The property will be surrounded by a 6-foot-high security fence. Harris Architects is the architect. Chris Mergethaler and Rick Daly of Darwin Realty/CORFAC International will market the project for lease. Completion is slated for December.
HONOLULU — Gantry has secured $65 million in permanent financing to recapitalize a portfolio located on Oahu. The two financed properties are Hanua Logistics Center, a recently completed 226,850-square-foot Class A warehouse facility, and Honolulu Design Center, an 80,000-square-foot retail center. Murphy Osborne of Gantry’s San Francisco office arranged the funding on behalf of the borrower, a private investor. Bank of Hawaii provided the financing, which features a 15-year term, including a significant interest-only period transitioning to 30-year amortization.
BROOMFIELD, COLO. — Tepuy Properties has acquired a warehouse facility, located at 2360 Industrial Lane in Broomfield, for an undisclosed price. The building marks Tepuy’s largest ever capital raise, with a goal of $6.5 million. The company plans to use the money to purchase the building, upgrade it and re-tenant it. Situated on 5.5 acres, the property features 62,970 square feet of warehouse space. The building currently houses two short-term tenants, but Tepuy plans to renovate the building and eventually lease the property to up to six long-term tenants. The name of the seller was not released.