NEW HILL, N.C. — JLL has secured an approximately 340,000-square-foot lease with FedEx Ground at TIP West within Triangle Innovation Point, a 2,200-acre life sciences and advanced manufacturing park in New Hill. Matt Winters and Al Williams of JLL handle marketing and leasing for the park on behalf of ownership, a joint venture between Samet Corp., Lee-Moore Capital and a Denver-based family office. FedEx Ground will fully occupy Building One at TIP West, which is currently under construction. The building is part of the first phase of development at Triangle Innovation Point and will deliver by the end of the year. FedEx Ground is set to occupy the space in early 2023. Triangle Innovation Point can be subdivided for specific users as needed, with lot sizes ranging from 10 to 1,000 acres, and building layouts from 35,000 square feet up to 1 million square feet. Triangle Innovation Point is located close to the Research Triangle Park and Raleigh-Durham International Airport.
WINSTON-SALEM, N.C. — Chicago-based Brennan Investment Group has broken ground on a Class A industrial building on the former RJ Reynolds Headquarters campus in Winston-Salem known as Whitaker Park. Landmark Construction is the general contractor on the project. The construction timeline was not disclosed. The tilt-wall, speculative building will span 110,000 square feet and is designed to be divisible from one to four tenants. Bob Lewis, Chris Lowe and Jamie Newell of NAI Piedmont Triad are handling leasing on behalf of Brennan Investment Group. The Whitaker Park sits in a strategic last-mile, infill location near downtown Winston-Salem, Wake Forest University and five nearby interstates.
FORT WORTH, TEXAS — New York-based investment firm Clarion Partners has purchased Intermodal Commerce Park, a 1.4 million-square-foot industrial development located within the 26,000-acre AllianceTexas master-planned community in Fort Worth. Built in 2021, the property consists of three buildings with 36- to 40-foot clear heights, 266 dock-high doors, 10 ramp doors, 325 trailer parking stalls and 641 car parking spaces. Tenants include H-E-B, Volkswagen, Prairie Industries and ANEW Business Solutions. Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Jack Copher of JLL represented the seller, a partnership between Gruene Real Estate Partners, Weber & Co. and Crow Holdings Development, in the transaction. JLL has also been retained by Clarion to lease the property.
HOUSTON — Lee & Associates has negotiated the $27.2 million sale of a 214,300-square-foot warehouse in northeast Houston. Built in 2020, the cross-dock facility features 32-foot clear heights, 44 dock-high doors and an ESFR sprinkler system. The sale included 16.2 acres of land for future development. Michael Androwich, Mason Alsbrooks and Mike Spears of Lee & Associates represented the buyer, an undisclosed international manufacturer, in the transaction. Will Clay of JLL represented the seller, Houston-based Clay Development.
WINDSOR, CONN. — Missouri-based NorthPoint Development will build a 750,000-square-foot speculative distribution center at 500 Groton Road in Windsor, located in southern Connecticut’s Fairfield County. The 93-acre site is situated within the I-91 corridor near the 625-acre Great Pond master-planned development. Building features will include a clear height of 40 feet, a total of 75 dock doors and parking for 150 trailers and 588 cars. Construction is set to begin in June and to be complete in April 2023. NorthPoint has tapped JLL to lease the property.
NEWARK, N.J. — A partnership between three New Jersey-based investment firms, The STRO Cos., KRE Group and Fidelco Realty Group, has acquired a 77,000-square-foot warehouse in Newark. The facility at 798 Frelinghuysen Ave. sits on a 4.7-acre site near the Port of Newark. According to LoopNet Inc., the property was originally built in 1929 and renovated in 1994 and features a clear height of 16 feet. The seller and sales price were not disclosed.
ANCHORAGE, ALASKA — Time Equities Inc. has purchased Midtown Mall and 5900 Old Seward Highway in Anchorage from Seritage Growth Properties for a $44 million. Totaling 252,663 square feet, the deals mark Time Equities’ entry to Alaska. Midtown Mall is a 164,664-square-foot, grocery-anchored shopping center. At the time of sale, the property was 81 percent leased. Current tenants include Carr’s Grocery Store, Guitar Center, Nordstrom Rack and Planet Fitness. Situated on 7.8 acres, 5900 Old Seward Highway is a 98,087-square-foot former Sears warehouse building, which is currently vacant. Ami Ziff, Jonathan Kim and Grant Scott provided in-house representation for Time Equities, while Dino Christophilis of CBRE represented the seller in the deal.
CONROE, TEXAS — NAI Partners has negotiated a 9,991-square-foot industrial lease at 501 Hickerson St. in Conroe, located about 40 miles north of Houston. According to LoopNet Inc. the single-tenant property was built in 2015. Travis Land and A.J. Williams of NAI Partners represented the landlord in the transaction. Neal King of SVN | J. Beard Real Estate — Greater Houston represented the tenant, e-commerce firm H5 Products Inc.
CHICAGO — Chicago-based JLL Capital Markets has brokered the sale of an eight-property self-storage portfolio totaling 4,317 units across Illinois, North Carolina and Texas for an undisclosed price. In addition to a property in Chicago, the facilities are located in Plano, Little Elm, Garland and Flower Mound, Texas; and Durham, Raleigh and Spring Lake, N.C. The portfolio was 93 percent leased as of year-end 2021. Steve Mellon and Brian Somoza led the JLL team that represented the seller, Harrison Street. Life Storage was the buyer.
CHARLOTTE, N.C. — Beacon Partners has begun construction on two speculative buildings totaling 375,874 square feet within Carolina Logistics Park, a master-planned industrial park in Charlotte. Building 2 will span 202,403 square feet and Building 3 will be 173,471 square feet. Buildings 2 and 3 are situated at one of the park’s two entrances at the intersection of Carolina Logistics Drive and Downs Road. Both buildings will offer 32-foot clear heights, 180-feet concrete truck courts with ample trailer parking and six-inch floor slabs. The buildings are scheduled for delivery in the third quarter. Additionally, Building 4, a 525,624-square-foot property located at 11925 Carolina Logistics Drive, is already underway and scheduled for completion in June. Tim Robertson of Beacon Partners is handling leasing for Carolina Logistics Park. The project team includes general contractor Conlan Co., Merriman Schmitt Architects and civil engineer Orsborn Engineering Group. Wells Fargo is providing construction financing for the two speculative buildings. Carolina Logistics Park is a 288-acre park that will eventually accommodate up to 3.6 million square feet of Class A space. The site sits within proximity to Interstates 77 and 485, Charlotte Douglas International Airport and Uptown Charlotte. The park’s existing tenants include Amazon (1 million …