SEATAC, WASH. — BKM Capital Partners has purchased SeaTac Industrial Park, an industrial property located in SeaTac, approximately 15 miles south of Seattle, for $29 million in an off-market transaction. Totaling 129,677 square feet, SeaTac Industrial Park comprises three concrete tilt-up buildings with 18 units ranging from 1,929 square feet to 32,512 square feet in size, with office spaces comprising 16 percent of the total footprint. Located at 18802-19024 13th Place S, the property features 14- to 16-foot clear heights, 45 dock-high doors and 34 grade-level doors. At the time of sale, the asset was 92 percent leased. BKM Capital plans to invest nearly $2 million in capital improvements to elevate the property’s appeal and address deferred maintenance. Upgrades will include roofing, landscaping, HVAC systems, parking lot repairs and updated signage. A key component of the renovation includes converting the park’s largest unit from 32,512 square feet into four smaller units between 6,000 square feet and 16,000 square feet.
LAS VEGAS — Visionary III and Matterhorn Venture Partners have acquired a 6.5-acre development site in the North Las Vegas Valley industrial submarket for the development of North & North Business Park, a speculative industrial project in Las Vegas. Located at the southwest corner of North Nellis and North Las Vegas boulevards, North & North Business Park will offer three industrial buildings for lease for sale to individual users. Construction is slated to begin this summer.
TEMPE, ARIZ. — Captiva Partners has purchased a multi-tenant, small-bay industrial property located at 2209-2211 W. 1st St. in Tempe in an off-market transaction for an undisclosed price. Captiva plans to rebrand the 40,075-square-foot property as First Street Commerce Center and implement a comprehensive value-add business plan to elevate its appeal and functionality. Planned renovations include new signage, refreshed landscaping, exterior painting and upgraded interiors. Cory Breinholt of Commercial Properties represented the buyer and seller in the deal.
ROSEMOUNT, MINN. — Opus has completed a 90,000-square-foot recycling facility expansion for Spectro Alloys in Rosemount, a southern suburb of St. Paul. Spectro Alloys is a secondary foundry alloy producer in the Midwest. The addition enables the company to expand its product offering into billet from post-consumer scrap aluminum. Equipment will be assembled and calibrated in the facility over the next several months. With first production expected during the second half of 2025, the new facility creates an estimated 50 new jobs and adds nearly 120 million pounds per year of additional recycling capacity. Full production ramp-up is expected in the first quarter of 2026. Opus was the design-builder and architect.
COLUMBUS, OHIO — Anduril, a defense and aerospace contractor, has selected a site in Columbus for Arsenal-1, the company’s first hyperscale weapons manufacturing facility. The Southern California-based firm plans to invest approximately $1 billion of its own capital into the development. Anduril expects the new Arsenal plant to create more than 4,000 direct jobs in Pickaway County and the surrounding areas, as well as 8,500 indirect jobs from suppliers, construction and other sectors. The company says the project represents the largest single job-creation development in the history of Ohio. At full scale, the facility will span 5 million square feet and produce tens of thousands of military systems annually, according to Anduril. The firm will produce most of its suite of autonomous weapons, sensors and systems at the facility. “Today is a proud day for Ohio as we welcome Anduril and celebrate the creation of thousands of new jobs in cutting-edge defense manufacturing,” said Ohio Lt. Governor Jon Husted. “This investment reinforces Ohio’s position as a leader in advanced technology and national security.” The site is located near Rickenbacker Airport and features two 12,000-foot runways and a 75-acre private apron that will accommodate military-scale aircraft for delivery purposes. The site …
HOUSTON — Provident Industrial, a division of Dallas-based developer Provident, has sold Hall Road Distribution Center, a 139,000-square-foot building in southeast Houston. The newly constructed building is located about 20 miles from both of Port Houston’s main shipping terminals and features 32-foot clear heights, 32 dock doors and two ramps. Provident developed Hall Road Distribution Center in partnership with Junction Commercial Real Estate and Singerman Real Estate. The buyer, local seafood logistics company Ocean Kingdom, will also occupy the property.
SELMA, TEXAS — Construction contractor Southland Industries has signed a 62,400-square-foot industrial lease in Selma, a northeastern suburb of San Antonio. The space is located within Corporate Drive Industrial Complex, a newly constructed development that consists of two buildings totaling 511,000 square feet. John Colglazier, Kyle Kennan and Lindsey Tucker of Partners Real Estate represented the landlord, Atlanta-based developer Ackerman & Co., in the lease negotiations. Davis Bass of HPI Real Estate Services & Investments represented the tenant.
LUMBERTON, N.J. — Dallas-based investment firm Dalfen Industrial has acquired a 219,123-square-foot industrial building in Lumberton, located outside of Philadelphia in Southern New Jersey. The building is located along State Route 38 and is demise-able for single or multi-tenant occupancy. Building features include a clear height of 40 feet and 35 fully dressed loading positions, and Dalfen is in the process of adding 2,500 square feet of office space to the facility. The seller and sales price were not disclosed.
WASHINGTON, D.C. — JLL’s Capital Markets group has arranged more than $1.2 billion over the course of 2024 to fund the construction of four data center campuses in Northern Virginia. Jamie Leachman and Drake Greer of JLL worked on behalf of the borrower, The BlackChamber Group, to arrange the funds. The direct lenders and the locations of the four campuses were not disclosed, but JLL mentioned the capital sources included bank balance sheet financing and private credit vehicles backed by insurance company funds. BlackChamber expects the new facilities to yield more than 740 megawatts of power capacity upon completion. The construction timeline for the new projects was also not released. Including these new facilities, BlackChamber’s Northern Virginia data center portfolio will comprise eight campuses offering nearly 1.5 gigawatts of power capacity across 6 million square feet of data center space.
TEMPE, ARIZ. — DAUM Commercial Real Estate Services has arranged the purchase of a manufacturing and distribution industrial building in Tempe. A private investor acquired the asset, located at 1326 W. Fairmont Drive, for $7.3 million from an undisclosed seller. The 39,813-square-foot property features seven dock doors and heavy power to accommodate both manufacturing and distribution uses. Parker Houston, Chris Rogers and Trevor McKendry of DAUM handled the transaction.