HOUSTON — A joint venture between Chicago-based Brennan Investment Group and Los Angeles-based PCCP LLC has purchased a 1.3 million-square-foot industrial park in northwest Houston in a short-term sale-leaseback. The development, which will soon be vacant, comprises 16 buildings that range in size from 11,000 to 450,000 square feet on a 126-acre site. Constructed between 1999 and 2018, the buildings feature HVAC-equipped warehouses, bridge cranes, heavy power capacities, industrial outdoor storage space and above-standard clear heights. Brennan and PCCP acquired the property from subsea oil and gas equipment manufacturer Innovex. John Ferruzzo of KBC Advisors brokered the deal.
HOUSTON — Colliers has negotiated a 48,000-square-foot lease in the Jersey Village area of northwest Houston. According to LoopNet Inc. the building at 7420 Security Way was built in 2006 and totals 191,594 square feet. Barrett Gibson and David McMahon of Colliers represented the tenant Hospitality Solutions Inc., which also recently subleased 26,847 square feet of space in North Houston to an unnamed user, in the lease negotiations. The name and representative of the landlord were not disclosed.
SAN DIEGO — JLL Capital Markets has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in San Diego’s Otay Mesa submarket. The borrower is a joint venture between Elevation Land Co. and a real estate fund advised by Crow Holdings Capital. Aldon Cole and Ben Choromanski of JLL Capital Markets arranged the three-year, floating-rate loan through New York Life Real Estate Investors for the borrower. Phase I of Otay Business Park will deliver 612,240 square feet spanning four freestanding warehouse and distribution buildings, ranging from 79,760 square feet to 233,880 square feet. The single-story, reinforced concrete tilt-up structures will feature 32-foot clear heights and be divisible into suites as small as 45,000 square feet. Upon full build-out, the 119-acre Otay Business Park will feature 1.8 million square feet of industrial space across nine buildings. Construction for Phase I is underway, with completion slated for mid-2026. The project is expected to reach stabilization by mid-2027.
ONTARIO, CALIF. — MDH Partners has purchased Ontario Commerce Park II, a four-building, 133,400-square-foot industrial asset situated within California Commerce Center in Ontario. James Hwang of MDH Partners served as acquisition lead and Michael Hefner of Voit Real Estate Services represented the undisclosed seller in the deal. Terms of the transaction were not released. Divisible to up to 19 individual units, Ontario Commerce Park II consists of two buildings at 720 and 780 S. Milliken Ave. totaling 31,448 square feet and featuring grade-level loading and 16-foot warehouse clearance; and two buildings, totaling 101,952 square feet, at 740 and 760 S. Milliken Ave. with 25- to 26-foot warehouse clearance, dock-high loading and grade-level ramps. At the time of sale, the buildings were fully leased to nine tenants.
BROOKLYN PARK, MINN. — CBRE has negotiated the sale and acquisition financing for 610 Business Center, a 78,215-square-foot warehouse in the Minneapolis suburb of Brooklyn Park. Water Street Partners sold the asset to i3 Investors. Located at 9300 Winnetka Ave., 610 Business Center offers convenient access to I-94 via Highway 610. The facility was fully leased to Southern Graphics Systems and Twin Cities Habitat for Humanity at the time of sale. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. CBRE’s Billy Mork, Mike Vannelli and Joel Torborg arranged a fixed-rate loan with interest-only payments for the full term on behalf of the buyer.
PISCATAWAY, N.J. — Lee & Associates has brokered the $19.4 million sale of two industrial buildings totaling 101,454 square feet in the Northern New Jersey community of Piscataway. The buildings at 121 and 131 Ethel Road W. were fully leased at the time of sale to tenants in the distribution, food production and research-and-development sectors. Drew Maffey and Joseph Komitor represented the buyer, national investment firm Longpoint, in the transaction. The seller was not disclosed.
GRAND PRAIRIE, TEXAS — Alabama-based general contractor Brasfield & Gorrie has broken ground on a $6 million hangar renovation project for Airbus at the airplane manufacturer’s industrial campus in Grand Prairie, located roughly midway between Dallas and Fort Worth. The project will add an annex building and convert an existing building into a helicopter blade repair shop with two custom paint booths. A tentative completion date was not announced.
HOUSTON — Partners Real Estate has negotiated a 50,995-square-foot industrial lease in northwest Houston. The space is located within Building F of the property at 6410 Langfield Road and can support manufacturing usage. Travis Land and Braedon Emde of Partners represented the landlord in the lease negotiations. Gary Lawless and Kyle Willard of Cresa represented the tenant. Both parties requested anonymity.
HOUSTON — Colliers has negotiated a 26,847-square-foot industrial sublease in North Houston. According to LoopNet Inc. the building at 14440 John F. Kennedy Blvd. is one of two within the 192,000-square-foot Interwood Business Center. Barrett Gibson and David McMahon of Colliers represented the sublessor, Hospitality Solutions Inc., in the sublease negotiations. The name and representative of the sublessee were not disclosed.
MOUNT KISCO, N.Y. — JLL has brokered the sale of a 598-unit self-storage facility in Mount Kisco, about 45 miles north of Manhattan. CubeSmart operates the facility at 140 Radio Circle, which was completed in 2024 and spans 64,130 net rentable square feet, the majority of which (92 percent) is climate-controlled space. Guthrie Garvin led the JLL team that represented the seller, DHIP Group, in the transaction and procured the buyer, an affiliate of New York City-based investment firm Andover Properties. The facility was 57 percent occupied at the time of sale. The sales price was not disclosed.