Industrial

Valley-Research-Center-San-Jose-CA

SAN JOSE, CALIF. — WF Batton Management Co. has acquired Valley Research Center, a R&D campus in North San Jose, for $41.5 million. The name of the seller was not released. Joe Moriarty, Scott Prosser and Jack DePuy of CBRE Capital Markets represented the seller in the transaction. Valley Research Center comprises two 64,512-square-foot buildings, which were renovated in the last two years with a new lobby, collaborative work areas, fitness center and outdoor recreational areas. Harmonic Inc. fully occupies the building at 2590 Orchard Parkway and FIT Electronics (Foxconn) leases 26 percent of 2580 Orchard Parkway.

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Renton-Logistics-Center-Renton-WA

RENTON, WASH. — Clarion Partners has completed the disposition of Renton Logistics Center, a Class A industrial building located at 2501 E. Valley Road in Renton. An institutional buyer acquired the asset for an undisclosed price. Brett Hartzell and Paige Morgan of CBRE National Partners in the Pacific Northwest represented the seller in the deal. Built in 1996, the 459,349-square-foot, cross-dock facility features 30-foot clear heights, 75 dock-high doors, trailer parking, heavy power, recent upgrades to ESFR and energy-efficient lighting. At the time of sale, three tenants fully leased the property: Graybar, Swire Coca-Cola and Sealed Air.

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2717-S-Copper-Passage-Steamboat-Springs-CO

STEAMBOAT SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant property located at 2717 S. Copper Passage in Steamboat Springs. A Colorado-based private investor sold the asset to a Denver-based buyer for $5 million in an all-cash transaction. FedEx has operated at the property since 2000 and recently signed a long-term, net-lease extension. Brandon Gayeski of Blue West Capital represented the seller in the deal.

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DENTON, TEXAS — Dallas-based developer Box Investment Group will build M380 Business Park, a 156,090-square-foot industrial project in the North Texas city of Denton. The site is located at the corner of North Masch Branch Road and State Highway 380 and will house four freestanding buildings that can be marketed to users with a variety of square footage requirements. Construction is scheduled to begin early next year and to be complete in the first quarter of 2024.

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SCHERTZ, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated a 112,935-square-foot industrial lease at Doerr Lane Logistics Center in the northeastern San Antonio suburb of Schertz. John Colglazier, Kyle Kennan and Carlos Marquez of Partners represented the landlord, an entity doing business as Baltisse-Ackerman Schertz LLP, in the lease negotiations. Brad Hanagan of ATCAP Partners represented the tenant, MEI Rigging & Crating LLC. The property, which is under construction and slated for a February 2023 delivery, is now 75 percent preleased.

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50-Robert-Milligan-Parkway-Merrimack-New-Hampshire

MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments will develop a 323,750-square-foot industrial project in Merrimack, located in the southern part of the Granite State. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter of 2023.

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ASHVILLE, OHIO — Brooks Running has signed a 598,754-square-foot industrial lease to occupy an entire building at 10302 Transport St. within the Rickenbacker Logistics Park in Ashville, about five miles south of Columbus. The Seattle-based company, known for its running shoes, will relocate from a nearby facility in the second quarter of next year. The property features a clear height of 40 feet, 18 docks, 60 drive-in doors and parking for 117 trailers. The facility can be expanded up to 1 million square feet. Jim Hazard and Brad Struck of Cresa along with Michael Cantor of Allegro represented the tenant. Dan Wendorf and Brian Marsh of JLL represented the landlord, CT Investors. Rickenbacker Logistics Park spans 382 acres and 5 million square feet.

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KANSAS CITY, MO. — UPS Supply Chain Solutions has signed a 210,600-square-foot industrial lease at Hunt Midwest Business Center in Kansas City. An additional 268,000 square feet remain available for lease at the building, which features a clear height of 36 feet, 68 trailer parking spots and 245 car parking stalls. Owner Hunt Midwest plans to break ground on a fifth building at the industrial park in 2023. Additionally, infrastructure improvements will help facilitate the development of a new 135-acre phase of the industrial park that will accommodate buildings ranging in size from 300,000 to 1 million square feet. The improvements will also enable a new north entrance to SubTropolis, the world’s largest underground business complex. Austin Baier and Mike Mitchelson of CBRE represented Hunt Midwest in the lease with UPS.

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FORT WORTH, TEXAS — Marcus & Millichap has arranged the $6.4 million sale of the 10 Federal Texas Portfolio, a collection of three self-storage facilities totaling 585 units in Fort Worth. The portfolio spans five acres and 68,030 net rentable square feet. Stacey Gorman, Eric Jones, Cameron Bradford and Sam Slocum of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Brandon Karr and Danny Cunningham, also with Marcus & Millichap, procured the buyer, a private investor, and the firm’s Tim Speck assisted in closing the deal as the broker of record. The portfolio was 86 percent occupied at the time of sale.

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SCHERTZ, TEXAS — Partners, the Houston-based the investment and brokerage firm formerly known as NAI Partners, has negotiated a 116,176-square-foot industrial lease at Doerr Lane Logistics Center, located in the northeastern San Antonio suburb of Schertz. John Colglazier, Kyle Kennan and Carlos Marquez of Partners represented the landlord, an entity doing business as Baltisse-Ackerman Schertz LLP, in the lease negotiations. Sergio Acosta of Cushman & Wakefield represented the tenant, Quality Custom Distribution.

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