DALLAS — Good Sportsman Marketing, a designer and distributor of branded hunting accessories, has signed a 494,238-square-foot industrial lease at Passport Logistics Center in Dallas. The development spans 1.2 million square feet across three buildings and is located on the city’s north side. Blake Kendrick and Charles Brewer with Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Sarah Ozanne, also with Stream, represented the tenant.
PHILADELPHIA — Novaya Foxfield Industrial, the Mid-Atlantic investment arm of Novaya Real Estate Ventures and Foxfield Ventures, has purchased a 360,800-square-foot industrial facility in Philadelphia for $8.5 million. Novaya Foxfield purchased the nine-building complex from metals processor and recycler Thalheimer Brothers LLC, which will retain occupancy of the space via a 20-year sale-leaseback agreement. Steve Marzullo, Adam Silverman, Bruce Westwood-Booth and Kyle Sals of CBRE brokered the deal.
STANTON, TENN., AND GLENDALE, KY. — Ford (NYSE: F) has unveiled plans to build Blue Oval City, a massive manufacturing campus for its electric vehicles in the tiny town of Stanton, approximately 50 miles northeast of Memphis and with a population of fewer than 500 people. In addition, the car builder is planning the BlueOvalSK Battery Park manufacturing campus in Glendale, approximately 50 miles south of Louisville, to produce the lithium-ion batteries that power those electric vehicles. Ford estimates development costs for Blue Oval City at $5.6 billion and BlueOvalSK Battery Park, which will comprise two separate manufacturing facilities, at $5.8 billion. Both plants are scheduled to begin production in 2025. The auto maker predicts the Stanton location will create 6,000 jobs, while the Glendale location will create 5,000 jobs. Blue Oval City will span 3,600 acres — nearly six square miles — and focus on producing F-Series electric pickup trucks. The company noted that it will work with Redwood Materials on domestic battery recycling and that the facility will be carbon neutral, producing zero landfill waste once fully operational. In addition to the new plant, Ford said it will make a new investment to increase production of the F-150 …
SANTA MONICA, CALIF. — PGIM Real Estate has provided $250 million in fixed-rate debt to Santa Monica-based GLP Capital Partners LP. The funds will be used to acquire a five-property core logistics portfolio located across Atlanta, Dallas-Fort Worth, Chicago, Memphis and California’s Central Valley. All five of the properties were acquired on behalf of GLP Capital Partners IV, a closed-end, discretionary private equity fund. The portfolio is fully leased to four nationally recognized companies, all of which are investment grade credit tenants, according to PGIM. The seller and price were not disclosed. The five properties total 3.2 million square feet and are located within an average of one mile from each region’s primary transportation arteries.
CHINO, CALIF. — Alere Property Group has broken ground on the construction of two industrial warehouse facilities in Chino. The two developments will bring more than 626,000 square feet of speculative industrial space to the area. Located at the northeast corner of Bickmore and Euclid avenues, the eight-building Euclid Industrial Park will offer 360,000 square feet of space in buildings ranging from 13,050 square feet to 206,118 square feet. Completion is slated for August 2022. Ken Andersen, Eric Fikse and Richard John of Daum Commercial represented Alere in the 18.6-acre land acquisition for the project. The Daum team will also oversee leasing of the development. Chino Commerce Park, situated on 13 acres at the northwest corner of East End Avenue and County Road, will consist of four buildings offering a total of 266,348 square feet. The park will include a 210,747-square-foot building with 36-foot clear heights and three smaller buildings ranging from 15,104 square feet to 25,177 square feet with 26-foot clear heights. Tim Pimental, Chris Tolles, Eric Larson and Robin Dodson of Cushman & Wakefield represented Alere in the land acquisition for the development and will oversee leasing of the project, which is slated for completion in May 2022.
PERRIS, CALIF. — Rockefeller Group has completed the disposition of Harvill Logistics Center, a newly constructed industrial property in the Riverside County city of Perris. CH/BDG Harvill LLC, a joint venture between CH Realty Partners and Blumenfeld Development Group, purchased the asset for $57.5 million. The building features 333,553 square feet of industrial space. Rockefeller Group acquired approximately 30 acres of property in Riverside County for the development of two projects totaling 623,109 square feet in September 2020. The second project, a 289,556-square-foot speculative distribution building, Val Verde Logistics Center, was recently completed. Herdman Architecture + Design designed the project and RM served as general contractor. Bill Heim and Alex Heim of Lee & Associates represented the seller, while Tom Taylor and Steve Bellitti of Colliers represented the buyer in the deal.
CHANDLER, ARIZ. — Fullerton Properties has completed the sale of Chandler Business Center, multi-tenant industrial/flex property in Chandler. Portland, Ore.-based ScanlanKemperBard acquired the asset for $19.1 million, or $178.68 per square foot. Situated on 10.6 acres at 6150 W. Chandler Blvd., the 106,892-square-foot property was fully leased at the time of sale. Commercial Properties/CORFAC International’s Leroy Breinholt, Cori Sposi and David Bean represented the seller and buyer in the transaction.
CARLSBAD, CALIF. — Rexford Industrial has completed the sale of Newton Corporate Center, an industrial research and development property situated on 4.5 acres in Carlsbad. Elion Partners acquired the asset for $18.6 million. The 71,602-square-foot property is fully leased to four tenants with 2.8 years of weighted average lease term. Built in 1997 and renovated in 2009 and 2016, the property features 50 percent office space and 50 percent warehouse space. Bret Hardy, Sean Fulp, Sean Plummer and Mark Schuessler of Newmark represented the seller, while Greg Pieratt of Lee & Associates represented the buyer in the transaction.
DECATUR, ILL. — The Atkins Group will develop a 635,400-square-foot industrial build-to-suit in the central Illinois town of Decatur. ARCO National Construction will serve as general contractor for the project, which is estimated to cost in excess of $41 million to build. AJ Thoma III of Coldwell Banker Commercial Devonshire Realty and Mike Dean of Cushman & Wakefield represented the undisclosed tenant in the build-to-suit lease, which spans seven years. Completion of the 43-acre project is slated for July 2022.
CHICAGO — Cushman & Wakefield has brokered the sale of 2032 N. Clybourn Ave. in Chicago’s Lincoln Park for $15 million. The site includes a 150,000-square-foot brick warehouse and adjacent land near the Lincoln Yards development. Eric Sorensen, Larry Goldwasser and Kathleen Nelson of Cushman & Wakefield represented the seller, Anixter Center, a nonprofit that serves the deaf and people with developmental disabilities or behavioral health needs. The buyer, an affiliate of Interra Realty, intends to redevelop the property.