HOUSTON — ICC Cable Corp., a provider of wiring and cable services for the energy and construction industries, has signed a 59,376-square-foot industrial lease at 10300 FM 1960 Road in northwest Houston. Cotton Munson of Davis Commercial Real Estate represented the tenant, which is relocating from a smaller space on North Sam Houston Parkway, in the lease negotiations. Michael Foreman of Cushman & Wakefield represented the undisclosed landlord.
GLASGOW, DEL. — DuPont Semiconductor Technologies, a division of DuPont Electronics & Industrial, will undertake a $50 million industrial expansion project in the northern Delaware city of Glasgow. The 385,000-square-foot facility will be used for the fabrication, packaging and assembly of materials used in semiconductors that support numerous electronics-based industries. About 70 employees from DuPont’s existing facility in nearby Newark will staff the new plant along with 10 or so new hires. The company expects its new facility to be operational by the first quarter of 2024.
HUDSON, NASHUA AND MANCHESTER, N.H. — Cushman & Wakefield has brokered the $69 million sale of a portfolio of four southern New Hampshire industrial buildings totaling 593,000 square feet. The properties are specifically located in Hudson, Nashua and Manchester and were 94 percent leased to 18 tenants at the time of sale. Dave Pergola, Brian Doherty, Pete Rogers, Tom Farrelly, Denis Dancoes and Sue Ann Johnson of Cushman & Wakefield represented the seller, Albany Road Real Estate Partners, in the transaction. Tom Sullivan, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Dallas-based Lincoln Property Co.
ASHLAND, VA. — Merritt Properties has acquired Crescent Business Center, a five-building industrial park totaling 262,256 square feet in Ashland, about 10 miles north of Richmond. An affiliate of Thalhimer Realty Partners Inc. doing business as Crescent Business Center LC sold the asset for $41.3 million. Eric Robison of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Crescent Business Center is situated along I-95 on 20 acres and features an additional 19 acres for future development. The park was fully leased at the time of sale to tenants including Trane U.S., Electronic Systems, Motion Industries and Sunbelt Rentals.
PLAINFIELD, IND. — Rhenus Logistics has signed a 139,820-square-foot industrial lease at Gateway Business Park in the Indianapolis suburb of Plainfield. The lease transaction with the global logistics provider marks the lease-up of the entire seven-building industrial park, which is owned by Chicago-based HSA Commercial Real Estate. Headquartered in Germany, Rhenus Logistics operates across Europe, Asia, South America and the U.S. Plainfield will be the first Midwest location for the company. Nick Wigoda and Matt Kiger of Newmark represented the tenant, while Terry Busch and Jared Scaringe of CBRE represented ownership.
WOOD DALE, ILL. — Venture One Real Estate has acquired a 59,150-square-foot industrial building in the Chicago suburb of Wood Dale for an undisclosed price. Constructed in 1974, the property at 955 Lively Blvd. features three docks, three drive-in doors, parking for 60 cars, 5,180 square feet of office space and a clear height of 18 feet. Jay Farnam of Lee & Associates represented the undisclosed seller in the sale-leaseback transaction. Venture One utilized its acquisition fund, VK Industrial VI LP, which is a partnership between Venture One and Kovitz Investment Group.
DENVER, COLO. — New York-based IG Logistics LLC and Meadow Partners have purchased a 26.7-acre industrial storage yard/trailer site in central Denver for $19 million. Located at 409 W. 66th Ave., the vacant property is zoned for outside storage and includes a 10,000-square-foot freestanding industrial building with 6,500 square feet of office space, two drive-thru service bays and 14-foot clear heights. IG Logistics, Imperium Capital’s industrial platform, is an owner-operator of industrial properties that have a large outdoor storage or transportation component. The company specializes in acquiring and developing infill assets in high-barrier-to-entry urban growth markets where demand for logistics real estate is driven by e-commerce. The company’s strategy focuses on last-mile facilities that are mission critical to the supply chain. The buyers have retained Matt Trone and Joey Trinkle of Cushman & Wakefield to lead marketing efforts for the asset. The property can accommodate a single user or multiple.
CONROE, TEXAS — The Bauer Group, an international construction firm and machinery manufacturer, has unveiled plans for Northstar Industrial Park, a project in the northern Houston suburb of Conroe. The 79-acre site, which currently houses five warehouse and distribution buildings totaling approximately 200,000 square feet, formerly served as the U.S. headquarters for Bauer Group’s subsidiary, NEORig. The development team, which includes leasing agency Avison Young, will market the buildings to distribution and manufacturing users following NEORig’s departure from the site. The team also plans to construct build-to-suit facilities on the site’s 31.5 acres of undeveloped land, which could ultimately yield as much as 500,000 square feet of leasable product.
EMERSON, GA. — Lincoln Property Co. Southeast (LPC Southeast) plans to break ground on LakePoint 75, a 305,000-square-foot distribution center in Emerson, a city near the north Atlanta suburb of Cartersville. The property will be situated off Joe Frank Harris Parkway, a half-mile from I-75 and 28 miles from I-285. The facility will feature 36-foot clear heights, 67 dock-high doors, 37 trailer parking spaces and 170 auto parking spaces. The complex will also include grills, outdoor activity space, communal seating and open-air meeting space. LPC Southeast plans to deliver the property in fall 2023.
NICHOLASVILLE, KY. — MAG Capital Partners has purchased a 112,400-square-foot flex industrial facility located on 40.9 acres at One Security Drive in Nicholasville, a suburb of Lexington. The Fort Worth, Texas-based firm acquired the property in a sale-leaseback deal with Los Angeles-based OpenGate Capital, parent company of the tenant, Sargent & Greenleaf. Founded in 1857, Sargent & Greenleaf is an electronic and mechanical lock manufacturer for the banking, residential, railroad and government sectors. Nick Foster of JLL’s Newport Beach, Calif., office represented MAG Capital in the transaction. The sales price was not disclosed. The property comprises 90,000 square feet of manufacturing space with 22-foot clear heights and 22,400 square feet of office space.