BOWLING GREEN, KY. — Georgia-Pacific, a manufacturer of paper and wood products, has opened a $100 million Dixie manufacturing facility in Bowling Green. Georgia-Pacific began the expansion in 2019. The project included adding an 80,000-square-foot operations building, a new industrial printer and additional plate-forming presses. More than 70 full-time jobs were added due to the expansion, bringing the number of employees at the plant to more than 200. The plant was originally built in 1991. The facility accounts for approximately 25 percent of all paper plates and bowls that Georgia-Pacific produces. The Atlanta-based company also operates a plant in Lexington, Ky.
RICHMOND, CALIF. — TJL Properties has completed the disposition of a light industrial warehouse and office facility located in the East Bay community of Richmond. An institutional investor acquired the asset for $50.1 million. Situated on 12.3 acres at 700-702 National Court, the asset features 267,500 square feet of light industrial and office space. The property comprises a 250,500-square-foot industrial warehouse and a 17,000-square-foot office building. The industrial component features 22-foot clear heights and 15 dock-high, two grade-level and four rail doors. At the time of sale, the facility was triple-net leased to a beverage distribution company. Ryan Sitov, Tony Beatty, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.
HUMBLE, TEXAS — Developer Jackson-Shaw has completed Parc 59, a 279,632-square-foot industrial project located in the northern Houston suburb of Humble. Designed by Powers Brown Architecture and built by Cadence McShane Construction Co., Parc 59 consists of an 83,436-square-foot building with 28-foot clear heights and a 196,196-square-foot building with 32-foot clear heights. The buildings also feature 130-foot truck courts, ESFR sprinkler systems and a combined 437 car parking spaces. Gulf Atlantic Packaging Corp. (GAPCO) recently signed a lease to occupy 43,539 square feet at the larger of the two buildings.
COLUMBUS, OHIO — Core5 Industrial Partners has received construction financing to move forward with the development of C5 Southgate, a 437,000-square-foot, speculative industrial building in Columbus. The property will be situated on a 30-acre site near I-70. Patterson Real Estate Advisory Group arranged an undisclosed amount of construction financing through ServisFirst Bank in Atlanta. Core5 has developed more than 12 million square feet of industrial space since 2015.
ODESSA, TEXAS — Marcus & Millichap has brokered the sale of Permian Storage, a 123-unit facility located in the West Texas city of Odessa. The self-storage property spans 15,513 square feet of net rentable of non-climate-controlled space, with units ranging in size from 45 to 280 square feet. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.
BURNSVILLE, MINN. — KW Commercial has arranged the $1.6 million sale of a 24,000-square-foot industrial building in Burnsville, about 17 miles south of Minneapolis. The property is situated on 1.8 acres along Riverwood Drive. Andy Manthei and Matt Klein of KW Commercial’s Apple Valley office represented the seller, Linvill Riverwood LLC, an affiliate of Minnetonka-based Linvill Properties Inc. Buyer information was undisclosed.
PHILADELPHIA — CBRE has negotiated the sale of SoPhi Logistics Center, a 283,500-square-foot industrial property located at 2400 Weccacoe Ave. in Philadelphia. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Wharton Industrial Partners, which acquired the asset in 2019 and implemented a capital improvement program. The property was originally built in 1970 and was fully occupied at the time of sale. The buyer was not disclosed.
CARLSTADT, N.J. — A partnership between Illinois-based Venture One Real Estate and Kovitz Investment Group has acquired a 30,300-square-foot industrial building located at 178 Commerce Road in the Northern New Jersey city of Carlstadt. The single-tenant building was constructed on 1.4 acres in 1968. Richard Abdy of Emily Abdy Realty Group represented the undisclosed seller in the transaction. The new ownership will implement a value-add program that includes roof replacement, parking lot overlay, office renovation and LED lighting installation.
NORTH LAS VEGAS, NEV. — The Desert West Region of Lincoln Property Co. (LPC Desert West) has increased its Nevada presence with the acquisition of West Craig Industrial Center at 70-78 W. Craig Road in North Las Vegas. A partnership between Huntington Industrial Properties and Polk Street Industrial sold the asset to LPC Desert West for $48.6 million. Delivered in 2019, West Craig Industrial Center features 343,820 square feet of Class A industrial space on 20 acres. The three-building portfolio offers 30- to 32-foot clear heights, 91 dock doors with a combination of drive-in and dock-high configurations, ESFR sprinklers and insulated ceilings. Darla Longo and Barbara Emmons of CBRE’s National Partners Team represented the seller in the deal. LPC Desert West will provide property management services for West Craig Industrial Center. With this acquisition, LPC Desert West now owns nine buildings and almost 800,000 square feet of industrial space in Nevada.
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.