GRAND PRAIRIE, TEXAS — Fidelity Paper & Supply, a distributor of packaging supplies and materials, has signed a 107,082-square-foot lease within Heller Industrial Park in the central metroplex city of Grand Prairie. John Brewer and Riley Maxwell of Transwestern represented the landlord in the lease negotiations. Cameron Rogers with Rubicon Representation represented the tenant.
AVON, MASS. — Axiom Capital Corp. has arranged a $10 million loan for the refinancing of a cold storage facility in Avon, located south of Boston. Built in 1988 and renovated between 2009 and 2012, the property features a clear height of 30 to 32 feet, 25 dock doors and 5.3 million cubic feet of storage space. An undisclosed life insurance company provided the seven-year, fixed-rate loan to the borrower, an undisclosed private owner/developer. The property has been leased to a global cold storage operator since 2013.
LOS ANGELES — DAUM Commercial Real Estate Services has arranged the sale of a two-building industrial complex in the South Bay submarket of Los Angeles County. Newport Beach-based Hager Pacific Properties acquired the asset from a private party for $17.2 million. The property consists of a 108,000-square-foot building and a 37,000-square-foot building, with each leased to a single tenant. The asset is located at 13255 S. Broadway and 360 W.132nd St. The complex offers frontage on three streets, convenient access to major area freeways and close proximity to downtown Los Angeles and Long Beach. Michael Collins of DAUM Commercial represented the seller in the transaction.
SEATTLE — GTIS Partners and Ryan Cos. have formed a joint venture to develop 65 S Horton St., a last-mile industrial/urban logistics property in Seattle. The project is expected to cost approximately $42.5 million. Totaling 126,646 square feet, the four-story building will offer dual freight elevator access to floors two through four, and the ground floor will feature a loading dock, shipping/receiving space, 10 covered docks and 85 parking spots. The site is located in one of the city’s qualified opportunity zones, adjacent to several Port of Seattle terminals and one mile south of downtown Seattle.
PHOENIX — Colton Commercial has arranged the sale of the Ace Asphalt facility, a two-building property located at 3030 S. 7th St. in Phoenix. OP 3030 7th Property acquired the asset from Aceland LLC for $8.5 million. Situated on 29.4 acres, the property includes a 27,682-square-foot office building and an 11,788-square-foot service building. Ace Asphalt will continue its current lease at the site. Dan Colton of Colton Commercial represented the seller, while Pat Harlan of JLL’s Phoenix office represented the buyer in deal.
GROVEPORT, OHIO — The Pizzuti Cos. and development partner Olympus Ventures LLC are underway on the construction of Hamilton Road One Distribution Center, a 324,000-square-foot industrial building in central Ohio’s Groveport. The development team is undertaking the project on a speculative basis. Located on Hamilton Road, the site provides convenient access to I-270 and I-70. The building will feature a clear height of 32 feet, 57 dock doors, four grade doors, 212 auto parking spaces and 64 trailer parking spaces. Completion is slated for December. Jeff Lyons of CBRE is marketing the project for lease.
HALTOM CITY, TEXAS — Creation, a Phoenix-based investment and development firm, has broken ground on Northmark Commerce Center, a 234,000-square-foot industrial project in the Fort Worth suburb of Haltom City. Designed by LGE Design Build, the Class A logistics facility is expected to be complete in late 2022. Creation is developing Northmark Commerce Center in partnership with Crow Holdings Capital. Dallas-based Holt Lunsford Commercial has been tapped to lease the development.
HICKSVILLE, N.Y. — Simone Development Cos. has sold the 15-acre site of the former Rubber Co. of American Polymer Corp. manufacturing plant in the Long Island community of Hicksville. The facility was originally constructed in 1945 to produce plastics and latex and in subsequent years has been owned by various manufacturers, including Occidental Chemical Corp, Sybron Corp. and Bayer Corp. Paul Leone of CBRE represented the buyer, a fund backed by Brookfield Asset Management, in the transaction. Jim MacDonald negotiated the sale on an internal basis for Simone Development. The new ownership plans to develop a warehouse/distribution center on the site.
SURPRISE, ARIZ. — Baker Development Corp. (BDC) has acquired an 81-acre land site for the development of Cactus 303, an industrial park in Surprise. BDC purchased the land, located on the northeast corner of Cactus Road and Loop 303, for $20 million. The $150 million project will feature approximately 1 million square feet of industrial space spread across seven Class A buildings. The project will also feature a retail component along the Cactus Road frontage, with retail pads ranging from 0.75 acres to 16 acres. The industrial buildings will range from 82,000 square feet to 378,000 square feet with all buildings offering flexible single- or multi-tenant configurations; 32-foot to 40-foot clear heights; dock-high and grade-level doors; up to 200-foot truck courts; and extensive, expandable auto and trailer parking. The site can also accommodate build-to-suit users of up to 600,000 square feet. Construction is scheduled to begin in early 2022, with the first phase slated for completion by year-end 2022. Butler Design is serving as architect and Layton Construction is serving as the general contractor. Cactus 303 is situated within the 3,300-acre Prasada master plan, which features single-family homes, a 180-acre auto mall and a 60-acre power center. Anthony Lydon, Marc …
KANSAS CITY, KAN. — Taurus Investment Holdings LLC, a global private equity real estate firm, has acquired a light industrial portfolio in Kansas City for $55.2 million. Comprised of 20 buildings and more than 715,000 square feet, the portfolio will expand Taurus’ industrial platform to encompass 196 buildings totaling over 13 million square feet. Seller information and specific properties were not disclosed.