PLYMOUTH, MINN. — Meritex has completed the redevelopment and lease-up of Building One at Parkers Lake Commerce Center in the Twin Cities suburb of Plymouth. The three-building industrial complex totals 381,349 square feet. Meritex purchased the property in June 2021. Improvements to Building One include new entrances, façade, LED lighting and a new concrete truck court with 24 additional dock-high doors, two drive-in doors and additional parking. Stratasys, a polymer 3D printing solutions company, signed a seven-year lease for the entirety of the building, which spans 168,100 square feet. Jason Meyer and Brent Masica of Cushman & Wakefield represented Meritex in the lease transaction. Jim DePietro of CBRE represented Stratasys.
DALLAS — Home improvement products provider Riad Tile has signed a 49,000-square-foot industrial lease at 5200 E. Grand Ave., located just east of downtown Dallas. According to LoopNet Inc., the property was built in 1952, renovated in 1986 and spans 344,000 square feet. Josh Barnes and Canon Shoults of Holt Lunsford Commercial represented the landlord, Frontier Equity, in the lease negotiations. Alex Coe of Cresa represented the tenant.
PITTSBURGH — New York City-based Golden East Investors has purchased the former Heinz manufacturing campus in Pittsburgh with plans to redevelop the property. The acquisition includes seven industrial buildings totaling approximately 985,000 square feet that are situated on a 20-acre site along the Allegheny River. Phase I of the redevelopment will center on repositioning two warehouses and cold storage facilities totaling roughly 300,000 square feet to be able to accommodate advanced manufacturing, research and development, life sciences and robotics users. Completion of that initiative is slated for the third quarter of next year. Phase II will feature a renovation of a 375,000-square-foot building into a life sciences facility with an accompanying parking garage that can support up to 500 vehicles. The third and final phase will involve converting of the sites that house the other four buildings into a mixed-use development with multifamily, retail and office and/or life sciences uses. CBRE was the listing broker on the first-time sale of the campus by Riverbend Foods via bankruptcy proceedings.
GASTONIA, N.C. — Poettker Construction has broken ground on the second phase of Gateway 85, an industrial park located 22 miles west of Charlotte in Gastonia. NorthPoint Development is the project developer for both tilt-wall facilities. Phase II comprises Building 4, a 241,114-square-foot warehouse located on 15 acres at 3145 Aberdeen Blvd., and Building 7, a 705,234-square-foot warehouse located on 40 acres at 3301 Lineberger Road. Preparation of the 55-acre development will entail the relocation of an existing road that goes through the site and reworking the intersection, as well as site clearing and hauling away excess dirt. No construction timeline was disclosed. Poettker Construction is nearing completion on a similar project for NorthPoint in Salisbury, N.C.
PORTLAND, ORE. — Clarion Partners has sold Marine Drive Distribution Center, a four-building industrial facility located at 6308-6310 and 6204-6210 N. Marine Drive and 7409-7433 and 7507-7517 N. Leadbetter Road in Portland’s Rivergate submarket. LBA Logistics acquired the asset for an undisclosed price. Totaling 590,770 square feet, Marine Drive Distribution Center features one single tenant and three multitenant institutionally managed distribution warehouses. The buildings feature ESFR sprinklers, 24-foot to 26-foot clear heights, and 114 dock-high, 12 grade-level and 28 rail-served doors. At the time of sale, the buildings were fully triple-net leased to seven tenants. Mark Detmer, Buzz Ellis and Ryan Sitov of JLL Capital Markets represented the seller. Tyler Sheils of JLL Leasing is handling leasing of the property.
PITTSBURGH — New York City-based Golden East Investors has purchased the former Heinz manufacturing campus in Pittsburgh with plans to redevelop the property. The acquisition includes seven industrial buildings totaling approximately 985,000 square feet that are situated on a 20-acre site along the Allegheny River. Phase I of the redevelopment will center on repositioning two warehouses and cold storage facilities totaling roughly 300,000 square feet to be able to accommodate advanced manufacturing, research and development, life sciences and robotics users. Completion of that initiative is slated for the third quarter of next year. Phase II will feature a renovation of a 375,000-square-foot building into a life sciences facility with an accompanying parking garage that can support up to 500 vehicles. The third and final phase will involve converting the sites that house the other four buildings into a mixed-use development with multifamily, retail and office and/or life sciences uses. CBRE brokered the sale of the campus.
TUKWILA, WASH. — Dalfen Industrial has purchased Olympic Logistics Center, an industrial property in Tukwila, a suburb of Seattle. Terms of the off-market transaction were not released. Rainier Industries fully occupies the 137,266-square-foot facility. The property is near interstates 5 and 405 and State Route 176 and offers access to Seattle-Tacoma International Airport, Port of Seattle and Port of Tacoma. The acquisition brings Dalfen’s metro Seattle footprint to approximately 850,000 square feet.
TUKWILA, WASH. — Dalfen Industrial has purchased Olympic Logistics Center, an industrial property in Tukwila, a suburb of Seattle. Terms of the off-market transaction were not released. Rainier Industries fully occupies the 137,266-square-foot facility. The property is in close proximity to interstates 5 and 405 and State Route 176 and offers access to Seattle-Tacoma International Airport, Port of Seattle and Port of Tacoma. The acquisition brings Dalfen’s Seattle footprint to approximately 850,000 square feet.
PORTLAND, ORE. — Clarion Partners has sold Marine Drive Distribution Center, a four-building industrial facility located at 6308-6310 and 6204-6210 N. Marine Drive and 7409-7433 and 7507-7517 N. Leadbetter Road in Portland’s Rivergate submarket. LBA Logistics acquired the asset for an undisclosed price. Totaling 590,770 square feet, Marine Drive Distribution Center features one single-tenant and three multi-tenant institutionally managed distribution warehouses. The buildings feature ESFR sprinklers, 24-foot to 26-foot clear heights, and 114 dock-high, 12 grade-level and 28 rail-served doors, as well as ample parking. At the time of sale, the buildings were fully triple net leased to seven tenants. Mark Detmer, Buzz Ellis and Ryan Sitov of JLL Capital Markets represented the seller. Tyler Sheils of JLL Leasing team is handling leasing of the property.
WEATHERFORD, TEXAS — Houston-based biotechnology firm Inmatics U.S. has signed a 100,053-square-foot industrial lease at Weatherford Farms Business Park, a 34-acre development located on the western outskirts of Fort Worth. The three-building complex, which was completed last September, is now fully leased. Scott Visin of Cushman & Wakefield represented the tenant in the lease negotiations. Barkley Peschel, Walter Menuet and Jason Scholtz of Colliers represented the landlord, Crow Holdings Industrial, in conjunction with internal agents Cory Driskill and Emily Walker.