NORTH CHICAGO, ILL. — AbbVie (NYSE: ABBV) has unveiled a $195 million investment to expand its North Chicago manufacturing plant to include domestic active pharmaceutical ingredient (API) production. The expansion is part of AbbVie’s previously announced commitment to invest more than $10 billion of capital in the U.S. to support innovation and expand critical manufacturing capabilities and capacity. API manufacturing involves producing the active components responsible for the therapeutic effects of medications. The new North Chicago API facility will expand AbbVie’s chemical synthesis capabilities in the U.S., supporting domestic production of current and next-generation neuroscience, immunology and oncology medicines. Construction of the new facility is slated to begin this fall, with the site projected to be fully operational in 2027. The project will expand AbbVie’s existing U.S. manufacturing footprint, which supports more than 6,000 American jobs across 11 manufacturing sites and thousands of additional jobs at suppliers around the U.S. AbbVie is headquartered in North Chicago and employs more than 11,000 people in the state that work to develop and manufacture medicines for patients worldwide.
ADA, MICH. — Marcus & Millichap has negotiated the sale of Ada Attic Self-Storage, a 342-unit self-storage facility in Ada near Grand Rapids. The sale closed at a 6.62 percent cap rate. Built in 2002, the 52,150-square-foot property comprises climate-controlled and conventional units and was 96 percent occupied at the time of sale. Recent upgrades include new shingles, LED lighting and a modern surveillance system. Eddie Greenhalgh of Marcus & Millichap represented the seller, a family trust/limited liability company, and procured the buyer, Prestige Storage, in association with Steve Chaben, the brokerage firm’s broker of record in Michigan. The transaction marks the first time that the asset has changed hands.
ADDISON, ILL. — Brennan Investment Group has acquired a 97,568-square-foot industrial building in the Chicago suburb of Addison. Located near the I-355 expressway in the Northern DuPage submarket, the property features convenient access to the O’Hare International Airport as well as the Chicago central business district. The transaction marks the fifth acquisition within Brennan’s inaugural Opportunity Fund, which primarily focuses on the user-owned market.
LOUISVILLE, KY. — GE Appliances, a Haier company, has unveiled plans to invest more than $3 billion in its U.S. operations over the next five years. The company plans to expand its air conditioning and water heating portfolio, increase production output across all product lines and further modernize its 11 U.S. manufacturing plants with new automation and capital equipment. The first phase of investments will begin at GE Appliances plants in Kentucky, Alabama, Georgia, Tennessee and South Carolina. Upon completion of the plan, Louisville-based GE Appliances will have invested $6.5 billion across its U.S. manufacturing plants and nationwide distribution network since 2016, which is the year that the company was sold by General Electric (NYSE: GE) to Haier. The new $3 billion announcement marks the second-largest investment in the company’s history. The GE Appliances plant in Camden, S.C., currently produces gas water heaters. With the new investment, electric and hybrid water heater manufacturing will be added, doubling the plant’s output and employment once the project is complete. The first phase will be implemented by early 2026. In December, GE Appliances will add two new models of air conditioners to its air and water product portfolio at its Selmer, Tenn., plant. …
HOUSTON — Alliance Industrial Co. will develop TriPort 8, an 881,521-square-foot industrial park in southeast Houston. The project, which Alliance is developing in partnership with Northwestern Mutual, will span five buildings across 62 acres. Buildings will be able to accommodate users with requirements from 30,000 to 250,000 square feet and will feature 32- to 36-foot clear heights. Luke Hoyl with Virtue Real Estate Partners represented Alliance in the acquisition of the site. Stream Realty Partners has been appointed as the leasing agent and has inked several new deals.
ROUND ROCK, TEXAS — Sabey Data Centers, a Seattle-based owner-operator that is a joint venture between Sabey Corp. and National Real Estate Advisors LLC, has broken ground on a 54-megawatt project in the northern Austin suburb of Round Rock. The three-story facility represents Building B within a larger campus, and the first 18 megawatts of power are expected to be available to users in the third quarter of 2027.
BELLPORT, N.Y. — JLL has negotiated the sale of The Storage Vault, a 749-unit self-storage facility located at 73 Horseblock Road in the Long Island community of Bellport. Constructed on approximately 5 acres in 2020, The Storage Vault totals 54,750 net rentable square feet of predominantly climate-controlled space. The property also includes 73 RV, boat and trailer storage spaces and 33 drive-up spaces. JLL represented the seller, Storage Vault, in the transaction. The buyer was National Storage Affiliates. The sales price was not disclosed.
DOUGLAS COUNTY, GA. — DC Blox has obtained $1.15 billion in construction financing for a new data center campus coming to Douglas County, which sits west of Atlanta. ING Capital LLC, Mizuho Bank Ltd. and Natixis Corporate & Investment Banking served as lead arrangers and joint bookrunners for the financing package. Other participating capital sources include First Citizens Bank, CoBank ACB, LBBW, Toronto-Dominion Bank, KeyBank and Huntington National Bank. The funds will support the development of a 120-megawatt (MW) data center and include campus expansion to support an additional 80 MW of space. The financing follows DC Blox securing a $265 million green loan and equity from Post Road Group for the project. DC Blox expects the campus, which will be utilized by cloud and AI users, to be available as early as 2027. The developer and operator has a data center underway in the county, as well as in Conyers, Ga., with a few more scattered around the Southeast.
CORAL SPRINGS, FLA. — A joint venture between Foundry Commercial and American Realty Advisors has obtained a $57 million loan for Osprey Logistics Park, a 427,515-square-foot industrial park located at 12000 N.W. 39th St. in Coral Springs, a city in South Florida’s Broward County. Steven Klein, Melissa Rose, Nicole Barba and Preston Bacon of JLL arranged the floating-rate loan through Synovus Bank. Built in 2023, Osprey Logistics Park sits on 22.2 acres adjacent to Sawgrass Expressway and Sample Road. Features include 36-foot clear heights, 180-foot truck courts, 235-foot depths and 54-foot column spacing.
JACKSONVILLE, FLA. — Savlan Capital has purchased a seven-building office and flex portfolio in Jacksonville for $52 million. An undisclosed financial institution sold the properties, which span 765,190 square feet and are situated within the Lakeside and Flagler Center business parks. Robbie McEwan and Hunter Smith of JLL represented the buyer and seller in the transaction. The portfolio was 57.2 percent leased at the time of sale to tenants including HTS Logistics (corporate headquarters), Kimley-Horn, EY, Pulte Home Co., Siemens Mobility, United Healthcare Service and Total Quality Logistics.