BOLIVAR, MO. — White River Marine Group, which is owned by Bass Pro Shops, has purchased a 101,250-square-foot industrial building situated on 42 acres in Bolivar, about 30 miles north of Springfield. The purchase price was undisclosed. Todd Chambers of Chambers Real Estate Services LLC represented the undisclosed seller. The purchase will double the manufacturing capabilities for Bass in Bolivar where Tracker Boats are built. The company plans to add 300 jobs at the new property.
MYERSTOWN, PA. — A fund sponsored by CBRE Global Investors has acquired an 832,000-square-foot industrial facility located at 53 Central Blvd. in Myerstown, a city located within Lebanon County. The cross-dock building, which was acquired as part of a 1.4 million-square-foot portfolio sale, is situated on 72.8 acres and features 36-foot clear heights, 190-foot truck court depths and an ESFR sprinkler system. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE marketed the facility and negotiated the terms of sale on behalf of the undisclosed seller.
SYRACUSE, N.Y. — Stan Johnson Co. has brokered the $9.2 million sale of a 33,304-square-foot industrial building leased to FedEx Freight in Syracuse. The 26-acre property was constructed as a build-to-suit the city’s east side in 2009. Erik Lundberg of Stan Johnson Co. represented the seller, a Pennsylvania-based private investor, in the transaction. Jerry Hopkins of Newmark represented the buyer, a California-based 1031 exchange investor.
Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora
AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land. Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February. Additionally, next month, the development team will add 129 acres to the project and break ground on the park’s first structure — Build 1, a 541,840-square-foot, Class A speculative building. Slated for completion in third-quarter 2021, Building 1 will features 36-foot clear heights, 50-foot by 54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 parking spaces. With the recent and upcoming additions, HighPoint Park will eventually span 400 acres and offer up to 15 buildings totaling more than 5 million square feet at full build-out. While the full-site plan for HighPoint is still flexible, the initial plans include retail development through the middle of the park, along East 64th Avenue, providing walkable retail options for tenants and visitors. The development will also feature outdoor seating areas …
THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million. Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single tenant as an e-commerce distribution facility. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Joe Krahn and Harper Davis, also of Cushman & Wakefield, provided leasing services for the property.
TUKWILA, WASH. — CenterPoint Properties has purchased an industrial facility located at 365-369 Upland Drive in Tukwila. Terms of the off-market sale-leaseback transaction were not released. Situated on 2.4 acres, the 57,107-square-foot distribution facility features secure parking, a 100-foot truck court, an 11,509-square-foot office space, 24-foot clear heights, six dock-high doors and two drive-in doors. Chris Corr of Kidder Mathews brokered the transaction. The seller was not disclosed.
UNION CITY, CALIF. — GJK Properties has completed the sale of an industrial building located at 33401 Central Ave. in Union City. Elion Partners acquired the asset for $23 million. Constructed in 1979 and renovated in 2009, the 94,976-square-foot property features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish. At the time of sale, the property was fully leased. Jason Ovadia and Eddie Shuai of JLL Agency Leasing structured a lease for a new entity to fully occupy the property. Ryan Sitov, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.
BIRMINGHAM, ALA. — EGS Commercial Real Estate Inc. will develop a 67,174-square-foot build-to-suit industrial facility in Birmingham. Ferguson Enterprises LLC, a distributor of commercial and residential plumbing supplies, will occupy the property upon completion. The developer expects to commence construction in December and plans to deliver the asset 12 months later. The project includes approximately 15,000 square feet for offices and customer pickup, as well as nearly 2.5 acres of paved outside storage. The new building will be situated on First Avenue North within Avondale Commerce Park, a 10-building, 381,325-square-foot industrial park. INCO Group is the general contractor, Birmingham-based Caprine Engineering is providing engineering services and Atlanta-based Appleby + Laccetti Architects is the designer. ServisFirst Bank is providing construction financing. Cushman & Wakefield represented the landlord in the lease negotiations, and CBRE represented the tenant.
BROWNSVILLE, TEXAS — An affiliate of Milwaukee-based Phoenix Investors has acquired the 1 million-square-foot former tire plant of Titan International Inc. in Brownsville. The property spans 108 acres and was originally built in 1997. Titan, which manufactures road tires and wheel technology for a variety of industries, ceased production at the site in 2003 and converted the facility into a multi-tenant property. Michael Reid of Newmark represented Titan in the sale of the plant. The sale included land for future industrial development.
PITTSBURGH — Regional Industrial Development Corp. (RIDC) has completed the second phase of the redevelopment of Mill 19, a former steel mill in Pittsburgh, a project valued at more than $100 million. The new buildings feature light industrial, lab, office and workshop space and are located near Uber’s autonomous vehicle test track. Tenants at the redeveloped property include global tech firm Motional, the Advanced Robotics for Manufacturing Institute, Carnegie Mellon University’s Manufacturing Futures Initiative and Catalyst Connection. Construction originally began in 2017. The mill was redeveloped to be eco-friendly and sustainable and includes 110,000 square feet of rooftop solar panels and will produce over 2 million kilowatt hours of energy per year.