HOUSTON — Partners, the investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of a 96,011-square-foot cold storage facility in Houston. Cary Latham and Wyatt Huff of Partners represented the buyer, Harbor Capital LLC, in the transaction. Stephen Schneidau of Cushman & Wakefield, along with independent broker Bill Schneidau, represented the seller, Mendware LLC.
ELK GROVE VILLAGE, ILL. — Westmount Realty Capital has sold a portfolio of 21 light industrial buildings totaling 757,557 square feet in the Chicago suburb of Elk Grove Village. The sales price and buyer were undisclosed. Westmount owned the portfolio for three years. The portfolio is 97 percent leased to 107 tenants. The buildings were constructed between the late 1960s and late 1970s. Westmount now owns and manages 58 industrial buildings totaling 5.4 million square feet across the Chicago market.
Trammell Crow, CBRE Break Ground on 500,000 SF Cochrane Technology Center in Morgan Hill, California
MORGAN HILL, CALIF. — Trammell Crow Co., along with joint venture partner CBRE Investment Management, has broken ground on Cochrane Technology Center, a Class A industrial park in Morgan Hill. Situated on 30 acres, the speculative development will feature five buildings offering a total of 500,000 square feet. The single-phase Cochrane Technology Center will offer buildings ranging from 73,000 square feet to 138,000 square feet. The property is slated for completion in early 2024. The project team includes HPA as architect of record, Kier and Wright as civil engineer and Mille & Severson as general contractor. Rob Shannon, Chip Sutherland and Brian Matteoni of CBRE will handle marketing and leasing of the property.
SPANISH SPRINGS, NEV. — Panattoni Development has released plans for 420 Ingenuity Ave., a Class A industrial building at the 594-acre, master-planned Spanish Springs Business Center in Spanish Springs, a suburb north of Reno. The 195,000-square-foot facility will offer a combination of light industrial flex space with smaller units divisible to 9,000 square feet, and larger mid-bulk industrial space with unit sizes ranging from 31,500 square feet to 141,000 square feet. Each suite will include a build-to-suit office showroom, dock-high and grade-level door access, 30-foot clear heights, 50-foot by 50-foot column spacing with 60-foot speed bays, skylights and motion sensor LED lighting. Alston Construction will serve as general contractor on the project, which is slated for delivery in fourth-quarter 2023. Groundbreaking is scheduled for this fall.
MAGNOLIA, TEXAS — Marcus & Millichap has brokered the sale of Corporate Woods Storall, a 298-unit self-storage facility located in the northwestern Houston suburb of Magnolia. The facility spans 99,180 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were Texas-based limited liability companies that requested anonymity.
HENDERSON, NEV. — Westport Properties has released plans to develop an industrial property on a recently acquired land site in Henderson. Construction of the single-tenant, 81,511-square-foot facility is slated to begin in first-quarter 2023. Located at the corner of Bruner Avenue and Amigo Street, the building will feature 32-foot clear heights, a secured truck court, ESFR sprinklers, 11 dock doors and 5,000 square feet of office space. Completion is scheduled for fourth-quarter 2023. Amy Ogden of Logic Commercial Real Estate will oversee leasing.
MENOMONEE FALLS, WIS. — Founders 3 Real Estate Services has brokered the sale of two industrial buildings totaling 75,163 square feet in Menomonee Falls, a northwest suburb of Milwaukee. The sales price was undisclosed. Bob Flood of Founders 3 represented the seller, Kohl’s Inc. Flood will market the properties for lease or sale on behalf of the buyer, Luther Group.
SPARTANBURG, S.C. — Hughes Commercial Property is underway on its I-26 Logistics Center, a 226,800-square-foot industrial facility located in Spartanburg. Scheduled for completion in the second quarter of 2023, the facility will feature 32-foot clear heights, 60 dock doors, two drive-in doors, 53 trailer parking spaces and 225 car parking spaces. Other industrial and distribution companies located in the park include Walmart Return Center, Master Gardener and Yusen Logistics. Harper General Contractors is coordinating construction, and Lee & Associates will manage leasing at the property.
MCKINNEY, TEXAS — California-based investment firm AC Industrial Properties LLC has acquired Building B at Logistics Center at McKinney on the northern outskirts of Dallas. The 301,796-square-foot, rear-load building sits on 17 acres and features 32-foot clear heights, 130-foot truck court depths, 52 overhead doors, two drive-in doors and 190 parking spaces. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Pauli Kerr of JLL represented the seller, a joint venture between Thor Equities and Morgan Stanley, in the transaction.
AURORA, COLO. — Prologis has acquired a 55-acre land parcel in Aurora to expand Prologis Park 70, a 5.7-million-square-foot, fully leased industrial park. US Foods sold the site for an undisclosed price. Prologis plans to develop nearly 1 million square feet at the site, with groundbreaking scheduled for second-quarter 2023. The initial plans offer two design options: one with four buildings, two 325,000 square feet and two 150,000 square feet, and the second design includes one 700,000-square-foot building and two 150,000-square-foot buildings. The developer had not decided which it will build yet. The new buildings will have either a front park/rear loan or cross-dock design with dock-high and drive-in loading, trailer parking, ESFR sprinklers and 36-foot minimum clear heights. Prologis will begin development speculatively with build-to-suit options available. The first buildings are slated for completion in early 2023. Jim Bolt and Mike Camp of CBRE are representing Prologis and marketing the new space for lease, sale or build-to-suit development.