BRAINTREE, MASS. — Locally based developer Onshore Properties will develop Banner Park, a 326,000-square-foot industrial project located on a 130-acre site in the southern Boston suburb of Braintree. Both of Banner Park’s two buildings will total approximately 163,000 square feet and feature clear heights of 40 feet. Combined, the facilities will offer 19 loading docks and parking for up to 560 vehicles. Colliers is marketing the development for lease.
BRENTWOOD, N.Y. — New Jersey-based investment firm Faropoint has acquired a 24,000-square-foot industrial building in the Long Island community of Brentwood. The sales price was $4.9 million. According to LoopNet Inc., the property at 180 Heartland Blvd. was built on two acres in 1986 and features a clear height of 18 feet and 1,000 square feet of office space. The seller was not disclosed.
WAXAHACHIE, TEXAS — A joint venture between two locally based firms, 2GR Equity and Connell Realty Services Inc., is underway on construction of a 562-unit self-storage facility in the southern Dallas suburb of Waxahachie. Dallas-based Lone Star Self Storage will operate the facility, which will be located at the corner of State Highway 77 and Cardinal Road. Simmons Bank provided construction financing for the project, which is expected to be complete by the end of the year.
COPPELL, TEXAS — Lee & Associates has negotiated a 33,000-square-foot industrial lease at 921 W. Bethel Road in the northern-central metroplex city of Coppell. According to LoopNet Inc., the 140,000-square-foot building was constructed on 17.3 acres in 2009 and features 32-foot clear heights and 15 exterior dock doors. Ken Wesson and Mark Graybill of Lee & Associates represented the landlord, Nuveen Real Estate, in the lease negotiations. The name and representative of the tenant were not disclosed.
AUSTIN, TEXAS — DWG Capital Partners has acquired a 10,500-square-foot industrial property located at 9606 Old Manor Road in Austin. At the time of sale, the single-tenant facility was fully occupied by custom steel fabricator Austin Iron on a net-lease basis. Drew Boroughs and Andrew Gross of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. First Bank Texas provided fixed-rate acquisition financing for the deal.
AUBURNDALE, FLA. — Dalfen Industrial has purchased 73.7 acres in the Central Florida city of Auburndale for the development of two Class A industrial facilities. The park will have direct access to an interchange of Highway 559 and I-4, a premier corridor in the region. The development will span 896,400 square feet of industrial space upon completion. No construction timeline was disclosed. Notable industrial tenants in the Auburndale area include Amazon, Walmart, PepsiCo, UPS and Sysco, according to Dalfen. The Dallas-based developer currently owns approximately 67 industrial properties in the Southeast.
GREENSBORO, N.C. — CBRE has negotiated the sale of Airpark East, a 229,184-square-foot flex/office park in Greensboro that comprises 13 buildings. A joint venture between Somerset Properties and Ten Capital Management purchased the park for $20.8 million. Patrick Gildea, Matt Smith, Grayson Hawkins and Reggie Beeson of CBRE represented the undisclosed seller in the transaction. Airpark East was 87.8 percent leased to 31 tenants at the time of the sale, according to CBRE.
COLUMBUS, OHIO — Stonemont Financial Group is set to break ground next month on Castings Commerce Park, a three-building industrial development totaling 859,240 square feet in the South Side district of Columbus. The speculative project is slated for completion in the third quarter of 2023. The 71-acre site was formerly home to Buckeye Steel, a longtime steel manufacturer dating back to the 1800s. Located at 2211 Parsons Ave., the property features convenient access to I-71 and I-270.
ITASCA, ILL. — NAI Hiffman has brokered the sale-leaseback of a 251,909-square-foot warehouse in the Chicago suburb of Itasca for $36 million. The property is located at 1455 W. Thorndale Ave., about five miles west of the O’Hare International Airport. Patrick Sullivan and Eric Tresslar of NAI Hiffman represented the seller, Top-Line Furniture, which subsequently entered into a long-term lease for the property. High Street Logistics Properties was the buyer.
TEMPE, ARIZ. — CBRE has negotiated the sale of a freestanding warehouse property situated on 3.3 acres at 3001 S. Wilson St. in Tempe. Bio Huma Netics purchased the asset from Tempe-based Phoenix Plastics Products for $10.5 million. Built in 2004, the 40,182-square-foot building features 3,000 amps, 277/480-volt electrical service, 24-foot to 40-foot clear heights and Union Pacific rail service. Mike Parker of CBRE represented the buyer and seller in the deal.
