ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the $6.9 million sale of a 95,000-square-foot industrial property in Elk Grove Village near Chicago’s O’Hare International Airport. The facility is located at 855 Morse Ave. Peter Doughty of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Doughty also procured the buyer, Texas-based AIC Ventures.
ROSENBERG, TEXAS — Bellomy & Co. has arranged the sale of Texas Storage, a 335-unit self-storage facility in Rosenberg, a southwestern suburb of Houston. The property spans 44,718 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, locally based firm Diehl Investments II LP, in the transaction. The duo also procured the buyer, Delaware-based BCORE Storage Jennetta LP.
DALLAS — ProPak Logistics has signed a 103,085-square-foot industrial lease at 8801 Autobahn Drive in South Dallas. According to LoopNet Inc., the property was built in 1997 and totals 270,490 square feet. Canon Shoults and John Gorman of Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Michael Meaden of CBRE represented the tenant.
SOUDERTON, PA. — Atlanta-based Core5 Industrial Partners has begun construction on Core5 Logistics Center at Park 31, a 591,360-square-foot speculative industrial project that will be situated on 74.4 acres in Souderton, about 35 miles north of Philadelphia. The first phase of the development will consist of two buildings totaling approximately 400,000 square feet that are expected to be complete in the third quarter. Michael Golarz and Tom Golarz of Colliers International are handling leasing of the project.
MISSION VIEJO, CALIF. — Faris Lee Investments has arranged the purchase of a vacant flex office/industrial building located at 23311 Madero in Mission Viejo. A Beverly Hills-based company acquired the property for $4.7 million in an all-cash transaction. The buyer plans to redevelop the site and market it for a long-term user. Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the buyer in the transaction.
BOWLING GREEN, KY. — Ball Corp. plans to open a new 500,000-square-foot building in Bowling Green that will serve as a manufacturing facility for aluminum can tops. According to the Kentucky Economic Development Finance Authority, Ball will invest $305 million to develop the facility. The Westminster, Colo.-based company expects to create 200 jobs at the property, which is scheduled to open in early 2022. The project’s construction is also expected to support 391 jobs. The facility will be situated within Transpark, a 300-acre industrial development owned by the City of Bowling Green and Warren County. Ball will be the first tenant at the site. Transpark has CSX Railroad service through the southern end of the property and is located five miles from Interstate 65. A design team for the project was not disclosed. Ball supplies aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government.
COLUMBUS, OHIO — Industrial Realty Group has acquired the former Columbus Dispatch printing facility in Columbus for $11.5 million. The 450,000-square-foot property is located at 5300 Crosswind Drive and sits on roughly 65 acres within the Southwest Airport Industrial Park. It has been vacant since spring 2020. Aiden Cleghorn of BellCornerstone and Curt Berlin of NAI Ohio Equities represented the seller, Gannett Co. Inc.
SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.
ANNAPOLIS, MD. — A joint venture between Realterm and J.P Morgan Asset Management has acquired a 54-property, 1.8 million-square-foot industrial portfolio. The properties are located in 28 states and are in markets including Atlanta, Chicago, Dallas, New York, Philadelphia and New Jersey. The portfolio spans a total of 717 acres and features 2,090 doors. The sales price was not disclosed, though funding was provided through the Realterm Logistics Income Fund (RLIF) in a 50/50 joint venture with institutional investors advised by J.P. Morgan Asset Management. Annapolis-based Realterm will manage the portfolio. Avison Young represented the undisclosed seller in the transaction.
SHEPHERDSVILLE, KY. — Atlanta-based Core5 Industrial Partners has broken ground on Bourbon Logistics Center 3, a 1 million-square-foot industrial facility in Shepherdsville. The property is being built on a speculative basis and will feature 40-foot clear heights, 750 parking spaces, 336 trailer spaces and the potential for three-sided dock loading. The facility will be the largest spec development in the history of the Louisville MSA, according to JLL. The previous record was held by another Core5 property, the adjacent Bourbon Logistics Center 1, which is 4,000 square feet smaller than its neighbor. Bourbon Logistics Center 3 is situated along Ky. Highway 245 near the Interstate 65 interchange and 23 miles south of Louisville Muhammad Ali International Airport. MacGregor Associates Architects designed the asset, and Mindel, Scott & Associates Inc. is the civil engineer. Powell Spears and Matt Hartlage of JLL will market the property on behalf of the owner. A timeline for completion was not disclosed.