TACOMA, WASH. — CenterPoint Properties has added an industrial property located at 2021 Marc St. in Tacoma to its existing 28-acre Port of Tacoma portfolio. Terms of the transaction were not released. CenterPoint has plans to reposition the 51,281-square-foot building, which sits on seven acres, and offer it for lease. The property is served by railroad and features a secured yard and a 1,500-square-foot office space. CenterPoint owns two adjacent properties on Lincoln Avenue and Marc Street. The assets are a half-mile from the Port of Tacoma deep-water container terminals and offer easy access to State Route 167 and interstates 5 and 270. Raymond Schuler of Kidder Mathews represented the undisclosed seller, while Christian Mattson and Billy Moultrie of Lee & Associates represented CenterPoint in the transaction.
FORT WORTH, TEXAS — Locally based investment firm Fort Capital has sold a portfolio of 18 light industrial buildings totaling 606,889 square feet located throughout the Dallas-Fort Worth (DFW) metroplex. Each of the Class B properties offers proximity to one of the metroplex’s major interstates. The portfolio was 95 percent occupied at the time of sale. The buyer was not disclosed. Stephen Bailey, Dustin Volz, Zane Marcell, Wesley Gilmer and Erin Lazarus of JLL represented the seller in the transaction. Birtcher Anderson, in a joint venture with Belay Investment Group, purchased the portfolio.
GREENVILLE, S.C. — Michelin North America will invest $100 million in equipment and manufacturing over the next seven years in Greenville. Michelin North America has been headquartered in Greenville since 1985. The France-based tire company employs 9,700 workers in South Carolina, with more than 4,300 of those jobs in Greenville County. As part of the investment agreement with the County, Michelin will continue to pay a set fee rather than taxes for an additional five years. Since opening its first manufacturing facilities in Greenville in 1975, Michelin has invested more than $1 billion in Greenville County, according to County officials.
GEORGETOWN, TEXAS — Titan Development has broken ground on Phase I of NorthPark 35, a project in the northern Austin suburb of Georgetown that will add 330,000 square feet of industrial space across two buildings to the local supply. The project includes the extension of Aviation Drive to intersect with State Highway 130 and Interstate 35. Titan Development, which has offices in Albuquerque and San Antonio, expects to complete Phase I of the 146-acre project in the spring of 2021. One building will be partially occupied by Georgetown-based Texas Speed & Performance, while the remaining space will be marketed to future users.
ARLINGTON, TEXAS — South Carolina-based Johnson Development Associates Inc. will build Forum Commerce Center, a 129,450-square-foot speculative industrial project that will be located in the Great Southwest submarket in Arlington. Building features will include a cross-dock configuration, 32-foot clear heights, 24 dock doors, 84 car parking spaces (expandable) and nine trailer parking stalls. Cushman & Wakefield is handling leasing of the project, which is expected to be complete in the second quarter of 2021.
FLOWER MOUND, TEXAS — Custom Ink, a provider of printing services for the apparel industry, has signed a 90,200-square-foot industrial lease renewal at Lakeside Commerce Center in the Fort Worth suburb of Flower Mound. Blake Kendrick and Mac Hall of Stream Realty Partners represented the landlord, Stockbridge, in the lease negotiations. Chris Stout of JLL represented the tenant.
CANTON, MISS. — Trammell Crow Co. will develop a 700,000-square-foot Amazon robotics fulfillment center in Canton, about 26 miles north of Jackson along Interstate 55. The project is expected to house 1,000 employees who will pick, pack and ship small items such as books, electronics and toys to customers. This will be the third fulfillment center in the Magnolia State but the first to incorporate Amazon’s robotics technology. The Seattle-based e-commerce giant opened its first Mississippi facility in Byhalia in 2019 and its second in August in Olive Branch. According to Madison County officials, the Canton fulfillment center is expected to deliver in August 2021. Amazon expects to fill the 1,000 jobs by next holiday season.
SOMERSET, N.J. — NAI DiLeo-Bram has negotiated a 308,000-square-foot industrial lease at 481 Weston Canal Road in the Northern New Jersey city of Somerset. Bridge Development Partners recently completed the property, which is located within the three-building Bridge Point Somerset development. Building features include 36-foot clear heights, 78 trailer stalls, 50 loading docks and proximity to Interstate 287 and the New Jersey Turnpike. Eric Bram Johnston and Christopher Galiano of NAI DiLeo-Bram represented the tenant, an undisclosed furniture manufacturer that is relocating from Edison, in the lease negotiations. JLL represented Bridge Development Partners.
BURLINGTON, N.J. — A partnership between an affiliate of Endurance Real Estate Group and Boston-based Cabot Properties has broken ground on a 289,042-square-foot speculative industrial project in Burlington, about 20 miles northwest of Philadelphia. The 56.6-acre site at 2609 Rancocas Road will house two warehouses that are expected to be complete in the fourth quarter of 2021. Building I will feature 217,986 square feet, 36-foot clear heights, 180 car parking spaces and 28 trailer parking spaces. Building II will total 71,056 square feet and will offer 32-foot clear heights and 69 car parking spaces. John Plower, Nate Demetsky and Ryan Cottone represented the development team in the acquisition of the land. Newmark represented the seller of the land.
BOSTON — JLL has negotiated the $12.2 million sale of a 26,500-square-foot industrial property located at 202 Southampton St. near downtown Boston. The single-story building features 29-foot clear heights, six loading docks with four drive-in doors and 33,000 square feet of excess parking housing 150 spaces. Michael Restivo of JLL represented the seller in the transaction. Brett Paulsrud and Sam Campbell of JLL arranged fixed-rate acquisition financing through Webster Five Centers Savings Bank on behalf of the buyer, a partnership between Oliver Street Capital and Bain Capital Real Estate.