BIRMINGHAM, ALA. — Cushman & Wakefield | EGS Commercial Real Estate has arranged the $7.8 million sale of a 67,000-square-foot warehouse in Birmingham. Situated at 101 39th St. N., the property is a new build-to-suit facility for Ferguson Enterprises, a distributor of commercial and residential plumbing products. Cushman & Wakefield | EGS delivered the facility in March 2022. Boston-based Stag Holdings purchased the property. Adam Eason of Cushman & Wakefield | EGS led the development efforts and also brokered the lease and sale transactions. INCO Group and WatsonBruhn Builders were the general contractors for the project. Stag Holdings has retained Cushman & Wakefield | EGS to provide management services for the property
SAN ANTONIO — Locally based developer Koontz Corp. has broken ground on Westport Industrial Park, a 374,400-square-foot project in San Antonio. Koontz Corp. is developing Westport Industrial Park in phases, with the first of the two 187,200-square-foot buildings set to be delivered in February 2023. Building features will include 24-foot clear heights, 130-foot truck court depths, 23 dock doors and a total of 480 parking spaces. NAI Partners has been tapped to lease the development.
DALLAS — Alcoholic beverage distributor Dynasty Spirts has signed a build-to-suit industrial lease at PROTO Park, a 250,000-square-foot development in the Brookhollow submarket of Dallas. The square footage was not disclosed. The owner of PROTO Park, Fort Worth-based M2G Ventures, is underway on construction of the facility. Scott Hobbs and Kim Lyon of Newmark represented Dynasty Spirits in the lease negotiations. Jason Moser and Hanes Chatham of Stream Realty Partners represented M2G Ventures.
Sansone Group, Crow Holdings Near Completion of 702,450 SF Industrial Project in Palmyra, New Jersey
PALMYRA, N.J. — A partnership between St. Louis-based Sansone Group and a fund advised by Crow Holdings Capital is nearing completion of Tac Pal Logistics Center, a 702,450-square-foot industrial project located in the Southern New Jersey community of Palmyra. The facility will feature a clear height of 40 feet, 107 loading docks, 240 trailer stalls and 499 car parking spaces. Tac Pal Logistics Center also offers proximity to Route 130, Interstate 95 and the New Jersey Turnpike. Cushman & Wakefield and Avison Young have been tapped as co-leasing agents for the development, which is slated for a September 2022 delivery.
NEWARK, N.J. — Wholesale discount merchandiser Costco has opened a 183,000-square-foot warehouse and distribution center roughly two miles from the Port of Newark. The facility sits on 12.6 acres and features a clear height of 40 feet, 36 exterior docks, 83 trailer parking spaces and 168 car parking spaces. RC Anderson served as the general contractor for the project, which was developed on a speculative basis by Illinois-based CenterPoint Properties.
NEW ALBANY, OHIO — AmplifyBio, a biotechnology contract research organization, will invest approximately $150 million for a new 350,000-square-foot facility in New Albany, about 15 miles northeast of Columbus. The company plans to generate 263 new jobs between the new facility and its existing property in West Jefferson. AmplifyBio says it is expanding to meet surging market demand for advanced therapies, including cell and gene therapy products. The new property at 9885 Innovation Campus Way in New Albany will create 132 jobs. A timeline for construction was not provided.
MELVILLE, N.Y. — Southern California-based investment firm Cohen Asset Management has purchased an 84,140-square-foot logistics facility located in the Long Island community of Melville. The property, which sits on 6.9 acres, was fully leased to Estee Lauder and two other tenants at the time of sale. Building features include a clear height of 22 feet and parking for 250 vehicles. The seller and sales price were not disclosed.
NORTHLAKE, ILL. — Cresa Chicago has arranged the sale-leaseback of a 48,340-square-foot warehouse located at 11697 W. Grand Ave. in Northlake, a western suburb of Chicago. The building features a clear height of 24 feet, six docks and two drive-in doors. Ed Lowenbaum, George Mack and Mike Duncan of Cresa represented the seller, CTL Global Inc., which provides fulfillment and logistics solutions. Faropoint Ventures LLC purchased the asset for an undisclosed price. Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team. CTL constructed the facility in 2003.
Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich. Furniture stores have been actively backfilling big boxes, including Bob Mills who took the former Michael’s, and Wichita Furniture, a strong regional player, taking the former 100,000-square-foot Kmart building on West Kellogg/US-54. Discount stores have continued to find a way to open more locations to increase their footprints in the market, both new construction and conversion of former retail spaces. Ollie’s Bargain Outlet opened its west store at Central and Ridge roads, and is also opening a store at Brittany Center. Quick-service restaurants (QSRs) have been active, including two new locations opening in 2022 for Dunkin’ and several new Dutch Bros Coffee locations as they enter the market as well in late 2022 and 2023. Tropical Smoothie Café opened a location last year and Smoothie King …
TROUTMAN, ORE. — Portland-based Norris & Stevens has brokered the sale of an industrial warehouse facility located at 1871-1891 NW Commerce Court in Troutman. An entity doing business as PDX Trans LLC acquired the property from an undisclosed seller for $4.5 million. Situated on 1.6 acres, the 23,896-square-foot warehouse features 4,168 square feet of office space and 5,000 square feet of fenced yard space. The single-story warehouse has 20-foot clear heights, two dock-high loading doors and three grade-level doors. Additionally, the site offers abundant parking and easy access to Marine Drive and Interstate 84. Tim Budelman of Norris & Stevens represented the buyer in the transaction, while Mike Hale and Brody Cohen of Capacity Commercial represented the seller.