Wednesday, May 13, 2026
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Industrial

Westech-Business-Center-I-II-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

LBA Logistics Divests of 225,333 SF Westech Business Center Light Industrial Complex in Phoenix

by Amy Works

PHOENIX — LBA Logistics has sold Westech Business Center I & II, a seven-building light industrial complex in Phoenix, to Schnitzer Properties, formerly Harsch Investment Properties, for an undisclosed price. Westech Business Center I & II features 225,333 square feet of space, which was 99 percent leased to 51 tenants at the time of sale. The asset offers functional divisibility with a variety of smaller bay sizes, freeway visibility, parking, ample loading and fully built-out offices. Will Strong, Jeff Chiate, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield represented the seller in the deal.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 38,050 SF Industrial Building in Addison, Illinois

by Kristin Harlow

ADDISON, ILL. — Venture One Real Estate has acquired a 38,050-square-foot industrial building in Addison for an undisclosed price. The property, located at 502 Vista Ave., is fully leased to one tenant. Constructed in 1967, the building features a clear height of 14 feet, three dock doors, one drive-in door, parking for 44 cars and 6,904 square feet of office space. Noel Liston of Darwin Realty represented the undisclosed seller. Justin Lerner of Transwestern represented Venture One, which utilized its acquisition fund VK Industrial VI LP, a partnership between Venture One and Kovitz Investment Group.

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50-&-100-Randolph-Road-Somerset
AcquisitionsIndustrialNew JerseyNortheast

Newmark Negotiates $100M Sale of Northern New Jersey Light Industrial Portfolio

by Taylor Williams

SOMERSET AND WARREN, N.J. — Newmark has negotiated the approximately $100 million sale of a portfolio of light industrial properties totaling 650,000 square feet in Northern New Jersey. An institutional investor acquired 50 & 100 Randolph Road, two assets in Somerset totaling 236,000 square feet that were 91 percent leased at the time of sale. The buyer(s) of the other four properties in Warren were not disclosed. Kevin Welsh, Brian Schulz, Maria Betancourt, Steven Schultz, Dan Reider, Kyle Eaton and Chris Koeck of Newmark represented the seller, a joint venture between Ivy Realty and Waterfall Asset Management, in the deal.

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DevelopmentIndustrialNew YorkNortheast

Rockefeller Group Underway on 172,622 SF Spec Distribution Center on Long Island

by Taylor Williams

BAY SHORE, N.Y. — New York City-based Rockefeller Group is underway on construction of a 172,622-square-foot speculative distribution center in the Long Island community of Bay Shore. The property at 55 Paradise Lane will feature a clear height of 36 feet, 40 dock doors, 270 car parking spaces, 40 trailer parking stalls and 7,317 square feet of mezzanine-level office space. Manhattan-based KSS Architects designed the project, and Aurora Contractors is handling construction. Completion is slated for the first quarter of next year.

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DevelopmentIndustrialSelf-StorageTexas

Mycon Underway on 781-Unit Self-Storage Facility for U-Haul in Amarillo

by Taylor Williams

AMARILLO, TEXAS — Dallas-based Mycon General Contractors is underway on construction of a 781-unit self-storage facility for U-Haul in Amarillo that will also offer truck and trailer rental services. The four-acre site at 5316 Canyon Drive already houses several U-Haul facilities, and the new three-story building will add 83,000 square feet of net rentable, climate-controlled space and 11,267 square feet of box storage space to the existing complex. Full completion is slated for December. In addition to the construction of the new building, the existing paving, landscaping and onsite ingress/egress points will also be renovated.

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DevelopmentIndustrialNew JerseyNortheast

U-Haul to Open 750-Unit Self-Storage Facility in Princeton

by Taylor Williams

PRINCETON, N.J. — U-Haul will open a 750-unit self-storage facility at an 8.8-acre undeveloped site at the intersection of U.S. Highway 380 and Boorman Lane in Princeton. U-Haul acquired the site in July. The four-story facility, which is scheduled to come on line by July 2024, will feature climate-controlled indoor storage space, outdoor drive-up buildings and a separate warehouse for U-Box portable storage containers. U-Haul will also offer truck and trailer rental services at the property and sell moving and packaging supplies as part of a retail operation.

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DevelopmentIndustrialNew JerseyNortheast

IDI Logistics to Undertake Two Industrial Redevelopment Projects in Central New Jersey

by Taylor Williams

PISCATAWAY AND EWING, N.J. — Atlanta-based developer IDI Logistics has acquired sites totaling 32 acres in Central New Jersey for a pair of industrial redevelopment projects. Both the 14-acre site in Piscataway and the 18-acre property in Ewing currently house office buildings. IDI Logistics plans to demolish the existing structures and replace them with Class A warehouse and distribution facilities. Construction timelines for both projects are still being finalized.

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DevelopmentFloridaIndustrialLeasing ActivitySoutheast

All Florida Paper Signs 226,698 SF Industrial Lease in Metro Miami

by John Nelson

HIALEAH, FLA. — All Florida Paper, a Hispanic-owned paper and sanitation products wholesaler, has signed a full-building, 226,698-square-foot industrial lease at Building D in Beacon Logistics Park in the Miami suburb of Hialeah. Jose Juncadella and Sebastian Juncadella of Fairchild Partners represented the landlord, Codina Partners, in the lease deal. Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield represented the tenant. Construction on Building D is scheduled to begin in the fourth quarter, and All Florida Paper is slated to occupy the space by mid-2023. Once completed, Beacon Logistics Park, located at NW 145th Place and NW 107th Ave., will span more than 1.3 million square feet of space.

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DevelopmentIndustrialSoutheastVirginia

Saltbox Opens 45,000 SF Co-Warehousing Facility in Alexandria, Virginia

by John Nelson

ALEXANDRIA, VA. — Saltbox has opened a new 45,000-square-foot “co-warehousing” facility located at 4700 Eisenhower Drive in Alexandria, the company’s sixth location in the United States. Situated near Washington, D.C., the property features 85 flexible warehouse and office suites, as well as conference rooms, loading dock access and a photo studio for entrepreneurs. Atlanta-based Saltbox plans to double its footprint of co-warehousing assets by the end of the year with secondary assets coming to Los Angeles, Atlanta and Dallas. Last month, the company debuted its first fulfillment center in Columbus, Ohio. Saltbox houses 300 tenants across its six locations, 70 percent of which are e-commerce companies.

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AcquisitionsData CentersDevelopmentIndustrialMidwestNorth DakotaTop Stories

Bitzero to Redevelop Cold War-Era Missile Defense Site in North Dakota into Secure Data Center for $500M

by Jeff Shaw

NEKOMA, N.D. — Bitzero Blockchain Inc. has agreed to acquire the Stanley R. Mickelsen Safeguard Complex (SRMSC) in Nekoma, a tiny city of fewer than 50 residents approximately 130 miles south of Winnipeg, Canada. The Cavalier County Job Development Authority (CCJDA) is selling the property to Bitzero, which plans to redevelop the asset into a highly secure data center. The project costs, including the acquisition, are estimated at $500 million. Commonly referred to as “The Pyramid,” the SRMSC is a Cold War-era military installation which was built in 1970 to protect the nearby Grand Forks Air Force Base from potential attack from Soviet missiles. The Pyramid became operational in 1975, featured two different kinds of radar systems and data processing equipment, and controlled 30 anti-ballistic missiles that could be launched in case of attack. The main building features three-foot-thick concrete walls. The missile site was abandoned after just eight months in operation, when Congress voted to deactivate it. The missiles and equipment were removed, but the concrete structures remain on the landscape. The CCJDA has owned the site’s tactical area since 2017, but voted unanimously to accept Bitzero’s bid proposal after a presentation from CEO Akbar Shamji. Bitzero’s bid proposal for the site included a …

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