TEMPE, ARIZ. — Opus Development Co. has purchased an 18-acre development site at 1320 and 1330 W. Warner Road in Tempe. An undisclosed seller sold the asset for $9.3 million. Opus plans to develop a two-building, 197,000-square-foot speculative industrial project. Construction is slated to begin in first-quarter 2022. Brian Ackerman and Connor Clark of JLL Capital Markets represented the seller in the deal. Additionally, Opus has engaged JLL to handle leasing of the new property.
CARLSBAD, CALIF. — Lee & Associates has arranged the sale of an industrial property located at 3205 Lionshead Ave. in Carlsbad. Lionshead LLC sold the asset to Oak Canyon LLC for $15.9 million. At the time of sale, the 47,850-square-foot freestanding building was 100 percent triple-net leased on a long-term basis. Chris Roth, Rusty Williams and Jake Rubendall of Lee & Associates – NSDC represented the seller, while James deRegt of Lee & Associates – Newport represented the buyer in transaction.
LOUISVILLE, KY. — JLL Income Property Trust has acquired South Louisville Distribution Center, a 327,000-square-foot, newly constructed industrial property in Louisville. The sales price was $39.5 million. The seller was not disclosed. The South Louisville Distribution Center is fully leased to Rivian, an electric vehicle automaker and automotive technology company. The seven-year lease includes annual rent increases of 2.8 percent. Completed in August 2021, the property includes Class A features such as cross docking, 36-foot clear heights and LED lighting. The industrial property is located close to major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub) and Louisville Muhammad Ali International Airport.
OMAHA, NEB. — R&R Realty Group has unveiled plans to build R&R Commerce Park South, an industrial park that will eventually consist of six buildings totaling more than 1.3 million square feet. The speculative development will be located on the southeastern corner of 156th Street and Schram Road in Omaha’s Sarpy County. The first two buildings are slated for completion by the end of this year. Plans call for a 286,000-square-foot warehouse and a 151,840-square-foot warehouse. Iowa-based R&R has also built R&R Commerce Park, a four-building development in Omaha that broke ground in 2018.
STREETSBORO, OHIO — NAI Pleasant Valley has arranged the $8.4 million sale of a 130,257-square-foot industrial building in Streetsboro, a southern suburb of Cleveland. The property sits on 8.5 acres at 675 Mondial Parkway. David Hexter and Jeffrey Calig of NAI Pleasant Valley represented the undisclosed seller. Exeter 675 Mondial LLC was the buyer. The transaction marks the first acquisition in the Northeast Ohio market for the buyer.
MESA, ARIZ. — Wharton Industrial and Madison Ventures Plus have received $224.1 million in acquisition and construction financing for The HUB @ 202, a master-planned, 1.5-million-square-foot industrial park in Mesa. John Alascio, Dave Karson, Chris Moyer, Will Strong, Kirk Kuller, TJ Sullivan, Chuck Kohaut and Zachary Smolev of Cushman & Wakefield Capital Markets arranged the financing. Situated on 101 acres, The HUB @ 202 will feature 11 Class A buildings with 28-foot to 36-foot clear heights, ample truck and car parking, grade- and dock-high loading doors and functional divisibility with a variety of bay sizes. Construction is slated to begin in second-quarter 2022.
GREENVILLE, S.C. — Charlotte-based Keith Corp. has broken ground on Upstate Trade Center, a 907,444-square-foot speculative industrial development in Greenville. Slated to be completed in January 2023, the project will be made up of two Class A industrial facilities. Building One will span 640,667 square feet with a cross-dock layout and 36-foot clear heights. Building Two will include 266,777 square feet with a rear-loading layout and 32-foot clear heights. Additionally, the two buildings will be constructed with concrete tilt walls and structural steel framing, as well as ESFR sprinklers, energy-efficient LED lighting and TPO membrane roofs. The project’s location is adjacent to U.S. Highway 25 and Donaldson Center Airport, as well as Interstate 85. Frampton Construction is Upstate Trade Center’s general contractor, Merriman-Schmitt Architects is providing design services and Thomas + Hutton will serve as the project’s civil engineer.
SUMMERVILLE, S.C. — Trinity Capital Advisors, in partnership with Iconic Equities, plans to develop Jedburg Tradeport, two Class A industrial buildings totaling nearly 780,000 square feet in Summerville. Construction on the two facilities will begin this summer and are slated for completion in spring 2023. Lee Allen and Kevin Coats of JLL are leading the leasing efforts for the industrial facilities. Located on 115 acres at 239 Jedburg Road, the Jedburg Tradeport project is located off Interstate 26 and will include a 621,000-square-foot cross-dock building and 158,000-square-foot rear-load building.
KANSAS CITY, MO. — Newmark Zimmer has negotiated the sale of 4001 N. Norfleet Road in Kansas City for an undisclosed price. The 700,000-square-foot distribution center was built in 2007 as a build-to-suit for Musician’s Friend, which continues to occupy the property today. The facility sits on 68 acres near I-435. Mark Long, John Hassler, Jim Linn and Bret Hardy of Newmark Zimmer brokered the transaction. Buyer and seller information was not provided.
BAYTOWN, TEXAS — Reich Brothers, an investment firm based in White Plains, New York, has purchased the former DHL Intermodal Campus, a 1.2 million-square-foot industrial property located in the eastern Houston suburb of Baytown. The rail- and barge-served campus consists of four buildings spanning between 200,000 and 400,000 square feet on a 67-acre site. Building features include 28- to 40-foot clear heights, more than 100 dock-high doors, ample car and trailer parking and renovated office space. The seller and sales price were not disclosed. The new ownership plans to invest in site improvements at the property to further enhance its functionality for distribution, rail and port-related logistics and manufacturing uses.
