ISLIP, N.Y. — Chicago-based Venture One will develop a 121,270-square-foot industrial facility in the Long Island community of Islip. The site spans 9.7 acres. Building features will include a clear height of 36 feet, 130-foot truck court depths, 131 car parking spaces and 119 trailer parking stalls. Construction is scheduled to begin in the third quarter and to last about a year. Cushman & Wakefield will be responsible for lease-up of the development.
By Paige Suvalsky, field research manager — Central Texas, CBRE; Rob Burlingame, senior vice president — Central Texas, CBRE; and Miller Hamrick, Texas industrial & logistics research lead, CBRE CBRE Research recently profiled Austin and San Antonio as an “emerging” industrial market along the Interstate 35 corridor in Central Texas. This region makes up much of the western portion of the “Texas Triangle”, a mega-region on a global scale that had an economic output of $1.5 trillion in 2021 and a population of just over 20 million people. The Texas Triangle represents a top 25 global economy, just ahead of Spain. The northern apex of the Texas Triangle, Dallas-Fort Worth (DFW), is projected to surpass Chicago by 2034-2035 to become the third-most populous urban region in the United States with a population of 9.4 million. This massive boom in population and business is driving the current rush to Central Texas and pushing regional and national developers to stake their claims in this growing market. Currently, about 5.5 million people live between the stretch of Texas from Laredo to Georgetown, and this area’s population is expected to grow by 10.8 percent over the next five years. According to data from the …
SAN CARLOS, CALIF. — Presidio Bay Ventures has broken ground on a Class A life sciences and R&D development located at 777 Industrial Road in San Carlos. The existing 45,000-square-foot dealership building will be fully redeveloped into a four-story, 147,000-square-foot, state-of-the-art facility. Stanton Architecture and DES Architects & Engineers designed the building, which will be tailored toward research and development users with a heavy lab component. Potential tenants include companies working in life sciences, biotech, food tech, agricultural tech, auto tech, drone tech, robotics, and other users requiring mission-critical infrastructure. Building amenities will include e-bikes, outdoor workspaces equipped with Wi-Fi and an onsite fitness center. Approved in June 2021, the project is slated for completion in fourth-quarter 2023. Marc Pope and Ben Paul of Cushman & Wakefield are handling leasing for the building.
CHAMPAIGN, ILL. — Coldwell Banker Commercial has arranged the sale of a 194,380-square-foot industrial building in Champaign for $9.4 million. Constructed in 2006, the property is located at 3310 N. Duncan Road. The facility features six dock-high doors, one drive-in door and onsite parking. A.J. Thoma III of Coldwell Banker Commercial Devonshire Realty represented the undisclosed seller. The buyer was also not released.
SIOUX CITY, IOWA — Cold-Link Logistics, a Miami, Florida-based cold storage warehousing firm, has broken ground on a 185,000-square-foot cold storage facility in Sioux City’s Southbridge Business Park. The project represents the first phase of development and a capital investment of nearly $60 million. Future phases of the project will more than triple the size of the building, according to Cold-Link. Completion is slated for early 2023.
ST. CHARLES, ILL. — In a sale-leaseback transaction, Venture One Real Estate has acquired a 49,330-square-foot industrial building in St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. Constructed in 1997, the property features three exterior docks, one drive-in door and parking for 100 cars. Ted Gates and David Prell of CBRE represented the unnamed seller. Venture One utilized its acquisition fund, VK Industrial V LP, which is a partnership between Venture One and Kovitz Investment Group.
DALLAS — Lee & Associates has negotiated a 153,150-square-foot industrial lease at 2340 I-35 W. Service Road in Dallas. The crane-served building features 24-foot clear heights, 24 drive-in doors and 6.8 acres of outdoor storage space. Joseph Mullican and Brett Lewis of Lee & Associates represented the undisclosed tenant, which will occupy the entirety of the building, in the lease negotiations. The name and representative of the landlord were not disclosed.
HAUPPAGE, N.Y. — Chicago-based Venture One will develop a 123,970-square-foot industrial facility in the Long Island community of Hauppage. The site spans 7.4 acres within Hauppage Innovation Park, which is home to some 1,300 businesses that employ roughly 55,000 people. Building features will include a clear height of 36 feet, 130-foot truck court depths, 131 car parking spaces and 40 trailer parking stalls. Construction is scheduled to begin in the third quarter and to last about a year. Cushman & Wakefield will lease the development.
HIRAM, GA. — Automann Inc., a global distributor of truck and trailer chassis and brake components, has signed a 367,000-square-foot industrial lease within Silver Comet Industrial Park in Hiram. The New Jersey-based firm is expected to bring 150 jobs to the Paulding County area, which sits west of Atlanta along U.S. Route 278 and State Route 92. Automann is occupying all of Building I, which is the first of six facilities planned at the 128-acre industrial complex. Silver Comet Industrial Park’s landlord is SK Commercial Realty, Goldenrod Cos. and Paulding County Economic Development. The ownership will break ground on the facility, which will feature 36-foot clear heights and 29 dock doors, in the coming months.
HOUSTON — North Texas-based Jackson-Shaw will develop Northeast Crossing, a 424,404-square-foot industrial project in Houston. The cross-dock building will be situated on 27.4 acres and will feature truck court depths of 130 to 185 feet and ample trailer parking. Diamond Realty Investments Inc. is Jackson-Shaw’s equity partner on the project. Rosenberger Construction is serving as the general contractor, with Powers Brown as the architect. Kimley-Horn is the civil engineering firm, and CBRE is the leasing agent. Comerica Bank provided construction financing. Completion is slated for the second quarter of 2023.