Industrial

Andover Properties Buys 500-Unit Self-Storage Facility in Rockingham, North Carolina

by John Nelson February 18, 2025

ROCKINGHAM, N.C. — New York-based Andover Properties has purchased a self-storage facility located at 102 W. Greene St. in Rockingham, about 70 miles southeast of Charlotte. Renovated in 2022, the property comprises nearly 500 climate-controlled units and spans 63,000 square feet. The facility represents the 15th North Carolina facility for Andover’s Storage King USA brand. The property features three loading docks, multiple levels of storage units, keypad-controlled entry and 24/7 video surveillance. The seller and sales price were not disclosed.

February 18, 2025

Arizona Development Industrial Western

Creation Breaks Ground on 144,885 SF Source Logistics Center in Tempe, Arizona

by Amy Works February 18, 2025

TEMPE, ARIZ. — Creation has started construction of Source Logistics Center, a Class A industrial facility in Tempe. The company acquired the 15-acre site at the southeast corner of Warner Road and Hardy Drive in partnership with CrossHarbor Capital Partners as investor. The 144,885-square-foot project will feature a clear height of 32 feet, abundant power and 6 acres of contiguous yard space allowing for flexible storage or excess passenger vehicle, trailer or box-truck parking. The property also offers access to Interstate 10 and Loop 101, as well as Union Pacific rail spur capabilities. LGE Design Build is serving as architect and general contractor for Source Logistics Center, which is slated for completion in mid-2026. Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE are handling leasing efforts for the project.

February 18, 2025

Acquisitions Arizona Industrial Western

MAG Capital Partners Acquires Infill Industrial Property in Northwest Phoenix

by Amy Works February 18, 2025

PHOENIX — MAG Capital Partners has purchased an industrial building located at 2848 Sweetwater Ave. in northwest Phoenix for an undisclosed price. Sunrun and Kaboomracks fully occupy the 39,950-square-foot building, which is situated on 3.1 acres. Phil Haenel and Foster Bundy of Cushman & Wakefield represented the seller, a private investor, in the deal.

February 18, 2025

Development Industrial Massachusetts Northeast

Partnership Completes 82,790 SF Warehouse in Peabody, Massachusetts

by Taylor Williams February 18, 2025

PEABODY, MASS. — A partnership between two local development and investment firms, Oliver Street Capital and Bain Capital Real Estate, has completed an 82,790-square-foot warehouse in Peabody, a northern suburb of Boston. The project is a build-to-suit for Christianbook, and the site is contiguous to the literary retailer’s existing headquarters. Locally based design-build firm Dacon Corp. handled the architectural and general contracting aspects of the partnership in conjunction with Fraser Project Management.

February 18, 2025

Industrial Leasing Activity Texas

Peak Paper Plastics Subleases 22,560 SF of Industrial Space in North Houston

by Taylor Williams February 17, 2025

HOUSTON — Peak Paper Plastics, a Chicago-based wholesaler, has subleased 22,560 square feet of industrial space in North Houston. The space is located at 3717 Yale St., a building that according to LoopNet Inc. is part of a larger complex that totals 137,647 square feet and was built in 1975. Austen Buckalew of locally based brokerage firm Oxford Partners represented the subtenant in the negotiations. Dustin Cruz and Kayla Kigh of Cresa represented the sublandlord, an entity doing business as Crazy Boss LLC.

February 17, 2025

Keystone-Trade-Center-Fairless-Hills-Pennsylvania

Industrial Leasing Activity Northeast Pennsylvania

Colliers, KBC Advisors Negotiate 517,641 SF Industrial Lease in Fairless Hills, Pennsylvania

by Taylor Williams February 17, 2025

FAIRLESS HILLS, PA. — Colliers and KBC Advisors have negotiated a 517,641-square-foot industrial lease in Fairless Hills, located just outside of Trenton in Eastern Pennsylvania. The space is located within Keystone Trade Center, a 15 million-square-foot campus that is a redevelopment of a former steel mill. Michael Golarz and Tom Golarz of Colliers, in conjunction with Mark Chubb, Mike Zerbe and Summer Coulter of KBC Advisors, represented the landlord, Missouri-based NorthPoint Development, in the lease negotiations. Michael Lee and Drew Maffey with Lee & Associates represented the tenant, global third-party logistics provider Cirro.

February 17, 2025

Acquisitions Delaware Industrial Northeast

Outrigger Industrial Acquires 125,000 SF Property in Bear, Delaware

by Taylor Williams February 17, 2025

BEAR, DEL. — Outrigger Industrial, which is a joint venture between four private real estate investors and firms Davidson Kempner Capital Management and Monarch Alternative Capital, has acquired a 125,000-square-foot property in Bear, located south of Wilmington. The property comprises two buildings totaling 40,000 and 85,000 square feet on an 8-acre site that were fully leased to a single tenant at the time of sale. The seller and sales price were not disclosed.

February 17, 2025

California Development Industrial Western

Partnership Delivers 163,000 SF Harbor Logistics Center in Santa Ana, California

by Amy Works February 17, 2025

SANTA ANA, CALIF. — Kearny Real Estate Co. and Dune Real Estate Partners have completed the construction of Harbor Logistics Center, a Class A warehouse and distribution complex at 3100 S. Harbor Blvd. in Santa Ana. The project was delivered nine months after demolition of the site’s existing 200,000-square-foot office campus. Accessible from three public streets, the 163,000-square-foot Harbor Logistics Center features a clear height of 36 feet, 17 dock-high doors, ESFR sprinklers and a 185-foot-deep truck court, as well as 7,000 square feet of built-out office space. The asset also offers rooftop solar panels and tenant parking stalls with electric vehicle charging. Additionally, the project is divisible to 98,000 square feet. Ben Seybold, Sean Ward and Keith Greer of CBRE’s Orange County, Calif., office is handling leasing for Harbor Logistics Center.

February 17, 2025

Arizona Development Industrial Western

Wespac Construction Completes 99,498 SF Cove Logistics Center in Phoenix

by Amy Works February 17, 2025

PHOENIX — Wespac Construction has completed Cove Logistics Center, an industrial development at the southwest corner of Van Buren Street and 37th Avenue in Phoenix. The company worked with Deutsch Architecture Group and ViaWest Group on the project. The 99,498-square-foot Cove Logistics Center offers two high-end speculative suites. The project scope also included full-scale underground infrastructure, advanced stormwater retention systems, the construction of truck courts and a new parking lot.

February 17, 2025

Florida Industrial Leasing Activity Southeast

Ian Black Real Estate Signs Video Game Developer to 23,349 SF Industrial Lease in Nokomis, Florida

by John Nelson February 17, 2025

NOKOMIS, FLA. — Ian Black Real Estate has signed video game developer Combat Waffle Studios to a 23,349-square-foot industrial space in Nokomis, about 17 miles south of Sarasota. Located at 195 Triple Diamond Blvd., the original office building was converted into a warehouse to provide room for development meetings, VR testing areas and motion capture and security-focused development zones. The property was also pre-wired for fiber-optic internet services. Additionally, Combat Waffle Studios will make minor repairs to the space, including new flooring, lighting and paint, according to the Tampa Bay Business Journal. The space was formerly occupied by drinkware brand Tervis, which vacated the property in January as part of the company’s consolidation. Combat Waffle Studios, which is backed by Facebook and Instagram parent company Meta and produces the popular video game “Ghosts of Tabor,” is expected to have 100 employees working from the space. Nick DeVito II and Brie Tulp of Ian Black Real Estate represented the landlord, an entity doing business as 201 Triple Diamond Holdings LLC, in the lease transaction.

February 17, 2025

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