LEWISVILLE, TEXAS — Marcus & Millichap has brokered the sale of a three-building, 110,400-square-foot industrial complex located in the northern Dallas suburb of Lewisville. Andes Coil Processors occupies the property, which sits on 7.6 acres. Adam Abushagur of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.
BELLINGHAM, MASS. — Restaurant equipment and foodservices supplier TriMark USA LLC has signed a 345,000-square-foot, full-building industrial lease at Bellingham Distribution Center, located about 40 miles southwest of Boston. Dallas-based Lincoln Property Co. developed the building, which features a clear height of 36 feet, 130-foot truck court depths and 227 car parking spaces, in partnership with global investment manager Barings. Ed Jarosz and Rick Schuhwerk of Newmark represented the tenant in the lease negotiations. Ellison Patten and James Tambone of Lincoln Property Co. represented the landlord on an internal basis.
BINGHAMTON, N.Y. — Marcus & Millichap has brokered the sale of a 100,984-square-foot industrial building in the Upstate New York city of Binghamton. The property sits on 7.3 acres and was leased to aerospace and defense firm L3 Harris on a triple-net basis at the time of sale. Adam Abushagur of Marcus & Millichap represented the seller, a private investor, in the transaction. Marcus & Millichap also procured the buyer, Spirit Realty Capital. The sales price was not disclosed.
WOODRIDGE, ILL. — Duke Realty has broken ground on a 370,973-square-foot speculative industrial project in Woodridge, a southwest suburb of Chicago. The development will sit on 21 acres at 1000 Woodward Ave. Plans call for a clear height of 36 feet, 37 dock doors, four drive-in doors, 44 trailer spaces and 343 car parking spaces. Completion is slated for January 2022. Jason West and Sean Henrick of Cushman & Wakefield will market the project for lease.
COLUMBUS, OHIO — Industrial Logistics Properties Trust (ILPT) has acquired a 357,504-square-foot industrial building in Columbus for $31.5 million. The property is located at 7303 Rickenbacker Parkway West near the Rickenbacker intermodal terminal and airport. Synnex Corp. fully occupies the facility on a seven-year, net-lease basis. Steve Disse, Alex Cantu, Jeff Devine and Michael Linder of Colliers International brokered the sale, which includes excess land that can accommodate future expansion of more than 100,000 square feet. Seller information was undisclosed. ILPT, based in Newton, Mass., is managed by The RMR Group LLC.
ANKENY, IOWA — The Opus Group has begun construction of an industrial build-to-suit for Brown Warehouse Co. in Ankeny, a northern suburb of Des Moines. The 277,930-square-foot building will be located within Swanwood Logistics Center. The facility will feature 43 vehicle parking stalls, 24 dock doors and two drive-in doors. Brown, a leasing and third-party logistics company, will operate its warehousing business in the new building and relocate its workforce from its three previous locations. Completion of the new building is slated for April 2022. Opus is the developer, design-builder, interior designer, architect and structural engineer. Snyder is the civil engineer. Opus also owns 25 acres adjacent to the site and plans to build a speculative industrial building spanning 296,360 square feet. Marcus Pitts and Austin Hedstrom of JLL will market that building for lease.
MINNEAPOLIS AND BOSTON — JLL Capital Markets has arranged a $157.3 million joint venture equity partnership for the development of three bulk distribution and life sciences projects in Minnesota and North Carolina. Colin Ryan, John Huguenard, David Berglund, Pete Pittroff and Patrick Nally of JLL arranged the equity investment with Rockpoint Group LLC, a Boston-based real estate private equity firm, on behalf of the Minneapolis-based developer, Oppidan Investment Co. Blake Hastings, Jay Moore and Tim Brent of Oppidan are leading the project development. “We are excited to embark on a programmatic relationship with Rockpoint and continue to grow the industrial and logistics vertical at Oppidan,” says Blake Hastings, president of Oppidan. “Our cultures are very well aligned, and we look forward to a long, deep relationship.” The portfolio will include nine buildings on three construction sites that total about 1.6 million square feet. Five buildings are expected to begin construction this year, and completion of all nine are anticipated by 2023. The Minnesota facilities are planned for industrial use while the North Carolina facilities will be for life sciences firms. Two of the nine buildings will be within Chaska Creek Industrial Park, which is 26.5 miles from Minneapolis in Chaska. …
POOLER, GA. — SunCap Property Group has broken ground on SunPort 95, a speculative industrial project situated on 123 acres in Pooler, about 10.2 miles from Savannah and 7.3 miles from the Port of Savannah. SunPort 95 is located off Coleman Boulevard near the intersection of Highway 80 and Interstate 95. The project’s first building will be a 944,260-square-foot, cross-dock facility meant for warehouse and distribution users. The building will accommodate a single user or multiple tenants and will feature 40-foot clear heights. At full buildout, the project can accommodate 1.8 million square feet. Building One is slated for completion in September 2022. Bill Sparks of CBRE will handle leasing for the project. Ware Malcomb designed Building One, and Evans General Contractors has been selected as its general contractor.
NEW YORK CITY — Avison Young has brokered the $7.9 million sale of a 18,320-square-foot industrial property in the Greenpoint area of Brooklyn. The property features a clear height of 18 feet, 1,500 square feet of office space and multiple loading docks. James Nelson, Brent Glodowski, Frederick Richter, Chris Johnson and Alexandra Marolda represented the seller, Marc Jason Realty Co. Inc. in the transaction. The buyer was an entity doing business as 688 Court Street LLC.
NORTH LAS VEGAS, NEV. — CapRock Partners has purchased a 10-parcel land assemblage totaling 20.7 acres in North Las Vegas for the development of CapRock Tropical Logistics Phase II, an industrial complex adjacent to CapRock Tropical Logistics. The land parcels were acquired from nine individual sellers. The total acquisition price was not released. Totaling 441,554 square feet, CapRock Tropical Logistics Phase II will feature three industrial buildings with 32-foot clear heights, large truck courts and approximately 362 parking stalls. Building 1 will offer 248,391 square feet and more than 300 linear feet of Interstate 15 frontage, 32 dock-high doors, a 185-foot truck court and 57 trailer stalls. The 101,825-square-foot Building 2 will feature 15 dock-high doors and 180 feet of shared truck courts, and the 91,338-square-foot Building 3 will offer 15 dock-high doors and 180 feet of shared truck courts. Development is underway and groundbreaking is planned for first-quarter 2022. Completion is slated for the fourth quarter of 2022. The adjacent CapRock Tropical Logistics park is a two-building, 1.1 million-square-foot industrial complex currently nearing completion. The first phase is 100 percent pre-leased and scheduled for completion in third-quarter 2021.