MANCHESTER, GA. — Coldwell Banker Commercial has arranged the sale of a 370,000-square-foot warehouse and distribution building located at 1000 W. Main St. in Manchester. The sales price was not disclosed. Ernie Smallman IV of Coldwell Banker Commercial Kennon, Parker, Duncan & Davis represented the buyer, FW Logistics, and the seller, Global Track Warehouse. Built in 1978, the single-story property is situated on 30 acres roughly 39 miles from Columbus, Ga., and 19 miles from Pine Mountain, Ga. The property has 21 exterior dock doors and 300 parking spaces located outside of the building. FW Logistics has selected Coldwell Banker Commercial as the exclusive leasing agent for the property. The firm intends to lease 300,000 square feet of the building to a tenant and utilize the remaining space for its own operations. The company also plans to do upgrades and renovations to the building.
Industrial
CLEARWATER, FLA. — Stan Johnson Co. has brokered the $23 million sale of a 106,000-square-foot distribution facility located at 13133 34th Street N. in Clearwater. Seattle-based Amazon anchors the industrial facility, which is adjacent to Macy’s operations center and Raymond James’ headquarters. Stan Johnson’s Craig Tomlinson, John Zimmerman and Rocco Driscoll represented the 1031 exchange buyer, a New Jersey-based syndicator, in the transaction. Bruce Vaughan of Vaughan Commercial represented the seller, a private local partnership group. Originally built in 1980, the distribution facility was fully renovated in 2019 and is situated on 8.8 acres. The property is located less than two miles from Interstate 275, St. Pete-Clearwater International Airport and Old Tampa Bay.
SAN ANTONIO — Indianapolis-based developer Scannell Properties has broken ground on Cornerstone Logistics Crossing, a 423,260-square-foot speculative industrial project located on a 28.8-acre site in northeast San Antonio. The property will consist of two buildings totaling 224,220 square feet and 199,040 square feet that will be divisible to 30,000 square feet. Building features will include 32-foot clear heights and ample trailer parking. CBRE has been tapped to lease the development, which is expected to be complete in the late third or early fourth quarter.
RICHARDSON, TEXAS — Transwestern Development Co. (TDC) will build a 300,000-square-foot office building at CityLine, a mixed-use development in the northeastern Dallas suburb of Richardson. The company is developing the six-story project, which will be branded The Exchange at CityLine in partnership with BC Station Partners, with Dallas-based BOKA Powell leading the design. Completion is slated for some time in 2022.
HOUSTON — Colliers International has negotiated the sale of a 64,846-square-foot industrial building located at 1314 Sam Houston Parkway in West Houston. Critical Rental Solutions occupies the single-tenant building, which was recently renovated and now features an upgraded roof, higher clear heights, heavier crane capacity and elevated power. Todd Moore of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
FAIR LAWN, N.J. — Quinlan Development Group LLC has broken ground on a 1,084-unit self-storage facility in Fair Lawn, located across the Hudson River from The Bronx. Upon completion, which is slated for summer 2022, the $17 million facility will have a gross square footage of approximately 123,000 square feet. Bank OZK provided construction financing for the project, which is the fourth self-storage facility that Quinlan has developed from the ground up since 2018.
NEW YORK CITY — Illinois-based CenterPoint Properties has acquired a 145,144-square-foot industrial building in The Bronx. The warehouse sits on 4.8 acres and features 18 dock-high doors and 1.5 acres for parking. In addition, the facility is located near Hunts Point Food Distribution Center, the largest food distribution hub of its kind in the world, according to CenterPoint. The seller and sales price were not disclosed.
MELROSE PARK, ILL. — Krusinski Construction Co. has completed Chariot Logistics Center in Melrose Park, a western suburb of Chicago. The developer was Ridgeline Property Group. The three-building, 623,000-square-foot project is situated on the site of the former Maywood Park Racetrack, a horse racing venue that closed in 2015. All three buildings were leased to an e-commerce tenant prior to completion. Building 1 totals 236,000 square feet, Building 2 spans 252,000 square feet and Building 3 totals 135,000 square feet. Each building has a clear height of 32 feet. Demolition and site work took approximately six months. Krusinski also built new infrastructure elements, including roads, detention ponds, water mains, stormwater systems and utility lines. The project team included Harris Architects, Progressive AE and Kimley Horn.
FRANKLIN, WIS. — Likewise Partners LLC has purchased a 54,833-square-foot industrial facility located at 9720 S. Oakwood Park Drive in Franklin, a southern suburb of Milwaukee. The purchase price was $3.7 million. The building features a clear height of 24 feet and is located within the 4.5 million-square-foot Franklin Business Park. Constructed in 2000, the facility is fully leased to four tenants. Adam Matson and Travis Tiede of Newmark represented Likewise in the transaction. Raymond Zanca and Scott Modelski of Black Bear Capital Partners arranged acquisition financing. The acquisition marks the first purchase in Wisconsin for Minneapolis-based Likewise, which targets industrial investment and development in Midwest markets.
Shasta Management to Open 100-Acre Cannabis Retail, Manufacturing Project in Imperial County
by Amy Works
HEBER, CALIF. — Shasta Management has signed a long-term lease for 100 acres of mixed-use space at the northeast corner of State Route 111 and East Heber Road in Imperial County’s Heber. The company plans to open a cannabis campus on the site with retail and manufacturing space. The first phase of the complex is scheduled to open in mid-June with a 9,000-square-foor retail center, including two 2,000-square-foot retail dispensaries along with a 5,000-square-foot consumption lounge and restaurant. The adult-only consumption lounge will feature a high-end glass shop, lounge areas, 85-inch TVs, gaming stations and vibe centers. Cannabis concierges will assist guests with purchases and products, as well as offer tasting flights and product education. Upon completion, the campus will be a fully integrated cannabis space with two indoor cultivation centers, totaling 37,000 square feet, and six greenhouse cultivation centers, totaling 60,000 square feet. The second phase, slated to open this fall, will include a 3,300-square-foot distribution center, 3,000 square feet of manufacturing space and several 25,000-square-foot greenhouses. Additionally, an adjacent building will house a quick-service restaurant, liquor lounge and a full-service restaurant. The campus’s name and branding, along with additional tenants, will be announced at a later date.