Industrial

Lovett Industrial, Clarion Partners Break Ground on 3.1 MSF Development in Metro Houston

by Jeff Shaw March 14, 2022

TOMBALL, TEXAS — A partnership between Houston-based developer Lovett Industrial and New York City-based investment manager Clarion Partners has broken ground on Interchange 249, a 3.1 million-square-foot development in the northern Houston suburb of Tomball. Interchange 249 will consist of 10 buildings on a 240-acre site at the intersection of State Highway 249 and Rocky Road that will be developed across three phases. Macy’s has already committed to leasing 48 percent of Phase I, which will consist of four buildings totaling 1.9 million square feet. These buildings will feature 32- to 40-foot clear heights and combined parking for 577 trailers. Completion of Phase I is slated for the first quarter of 2023. The development features approximately one mile of frontage along Grand Parkway. The site has direct access to both Grand Parkway and Highway 249, allowing for efficient regional and local distribution. Additional advantages include proximity to Houston’s labor force and a central location within an area that is experiencing unprecedented residential and commercial growth, according to the developers. Powers Brown Architecture is designing Interchange 249, and Kimley-Horn is the civil engineer. Harvey Builders is serving as the general contractor, and Cushman & Wakefield has been tapped as the leasing …

March 14, 2022

Development Industrial South Carolina Southeast

Keith Corp., Singerman Complete 1 MSF Industrial Property in Summerville, South Carolina

by Julia Sanders March 11, 2022

SUMMERVILLE, S.C. — Charlotte-based The Keith Corp. and its Chicago-based partner Singerman Real Estate has completed a 1 million-square-foot industrial property in Summerville. The concrete tilt-wall and steel frame industrial building was built as part of the three-million-square-foot, 230-acre Charleston Trade Center campus. Twin Star Home, a designer and manufacturer of indoor and outdoor living products, will lease the building. Twin Star Home’s new cross-docked facility features 40-foot clear heights, 120 dock doors, two drive-in doors and 4,000 square feet of upfit office space. Construction began in January 2021 and was completed in less than 12 months. McMillan Pazdan Smith Architecture designed the project, Frampton Construction was the general contractor and Alliance Consulting Engineers was the civil engineer. Lee Allen and Kevin Coats of JLL handled the marketing and leasing for the development team.

March 11, 2022

Development Industrial Southeast West Virginia

Red Rock, Cresset Break Ground on 829,948 SF Industrial Facility in Martinsburg, West Virginia

by Julia Sanders March 11, 2022

MARTINSBURG, W.VA. — Columbia, S.C.-based Red Rock Developments and Cresset Real Estate Partners have broken ground on an 829,948-square-foot, speculative industrial facility in Martinsburg. The firms want to secure a tenant before the site’s completed construction, which is slated for early 2023. Gerry Blindbury and Colin Potter of Cushman & Wakefield will handle leasing once the project is completed. The development will feature space ideal for a distribution and fulfillment center. Once complete, the building will be equipped to facilitate cross-dock distribution operations. The project’s features will include 40-foot clear heights, 156 exterior docks, four drive-in doors, 516 parking spaces for cars and 349 trailer parking spaces.

March 11, 2022

Industrial Leasing Activity Southeast Virginia

Automotive Supplier Signs 387,558 SF Industrial Lease in Roanoke

by Julia Sanders March 11, 2022

ROANOKE, VA. — Würth Revcar Fasteners Inc., a locally based full-line and full-service assembly component supplier, has signed a 387,558-square-foot industrial lease in Roanoke. Würth Revcar Fasteners will fully occupy the building and expects to open its new location in the third quarter. Located at 1 Avery Row, the distribution and warehouse building was formerly occupied by Home Shopping Network for the past 30 years. The building will now serve as Würth Revcar Fasteners’ new headquarters. The facility will be used to ship directly to customers throughout North America and distribute inventory to eight regional branch locations. Norman Moon Jr. and Kent Roberts of Cushman Wakefield | Thalhimer represented the tenant in the lease negotiations, with the assistance of John Minervini of Cushman & Wakefield’s Los Angeles office. Doug Faris and Derek Anderson with Binswanger represented the landlord, Blue Ridge Partners LLC.

March 11, 2022

Acquisitions Industrial Midwest Ohio

Phoenix Investors to Acquire 1 MSF Industrial Park in Cleveland

by Kristin Harlow March 11, 2022

CLEVELAND — An affiliate of Phoenix Investors has reached a definitive agreement to acquire Nela Park in Cleveland for an undisclosed price. Nela Park is home to GE Lighting, a Savant company. The acquisition will add more than 1 million square feet of industrial space to Phoenix’s portfolio. Built in 1913, Nela Park is considered the first industrial park in the world, according to Phoenix. The 138-acre property consists of industrial space, office space, a cafeteria, fitness center and outdoor recreation facilities. Savant acquired GE Lighting in July 2020. GE Lighting plans to maintain partial tenancy at Nela Park after Phoenix’s acquisition.

March 11, 2022

Acquisitions Industrial Midwest Ohio

MDH Partners Buys Newly Completed Warehouse in Columbus Spanning 100,000 SF

by Kristin Harlow March 11, 2022

COLUMBUS, OHIO — MDH Partners has purchased Green Pointe Landing, a 100,000-square-foot warehouse in Columbus. The purchase price was undisclosed. Completed this January, the property sits on nearly nine acres at 5740 N. Green Pointe Drive. The building features 20 dock doors, 135 car parking spaces and clear heights that range from 28 to 32 feet. Cushman & Wakefield represented the seller, Oakridge Development Co. Houston Hawley served as the acquisition lead for MDH, which now owns more than 680,000 square feet of industrial space in Ohio.

March 11, 2022

Development Industrial Leasing Activity Texas

Walmart to Open 1 MSF Distribution Center Near Port Houston, Create 300 Jobs

by Taylor Williams March 11, 2022

BAYTOWN, TEXAS — Walmart (NYSE: WMT) has signed a lease to open a 1 million-square-foot distribution center at Cedar Port Trade Center in the eastern Houston suburb of Baytown. The Arkansas-based retail giant is expanding its supply chain operations near Port Houston, where it already occupies several million square feet of industrial space, with plans to add about 300 new jobs to the regional economy. Dallas-based Hunt Southwest developed the property on a speculative basis, beginning construction in September 2020 and completing the project in April 2021. Joseph Smith, Bill Frain and Jamie Roussel of CBRE represented Walmart, which plans to open the facility in the fall, in the lease negotiations. Jason Dillee and Nathan Wynne, also with CBRE represented Hunt Southwest.

March 11, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 459-Unit Self-Storage Facility in Melissa, Texas

by Taylor Williams March 11, 2022

MELISSA, TEXAS — Marcus & Millichap has brokered the sale of a 459-unit self-storage facility in Melissa, located north of Dallas in Collin County. The Class A property consists of 293 climate-controlled units and 166 non-climate-controlled units across 56,525 net rentable square feet of space. Brett Hatcher, Gabriel Coe and Brian Kelly of Marcus & Millichap represented the buyer and seller, both of which requested anonymity, in the transaction. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

March 11, 2022

Acquisitions Industrial Nevada Western

JMAC Industries Divests of 80,677 SF Industrial Building in Las Vegas

by Amy Works March 11, 2022

LAS VEGAS — JMAC Industries LP has completed the disposition of an industrial property located in the southwest submarket of Las Vegas. MCA Realty acquired the asset for $16.9 million. Located at 7201 Post Road, the property features 80,677 square feet of industrial space. Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Doherty Industrial Group of Colliers International represented the seller in the deal.

March 11, 2022

California Development Industrial Self-Storage Western

StoragePRO Management Opens 131,000 SF Self-Storage Facility in Fairfield, California

by Amy Works March 11, 2022

FAIRFIELD, CALIF. — StoragePRO Management has opened a new multi-level self-storage facility situated on five acres at 475 Lopes Road in Fairfield. The 131,000-square-foot facility offers 930 indoor storage units and a two-story RV, boat and vehicle storage on the ground floor with secure, drive-up access. The property also features a property-wide 24-hour surveillance video system, electronic smart locks on each unit, entry and exit property access keypads, fenced and gated property perimeters, motion-censored interior and exterior LED lighting, fire sprinklers and onsite managers, as well as a leasing office and no-contact online rentals and bill pay. Elk Grove-based GC Construction and Development served as the project’s general contractor.

March 11, 2022

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