LEESBURG, VA. — TA Realty LLC, a provider of real estate investment management services to domestic and international institutional investors, plans to develop a new $1.8 billion secure data center campus in Leesburg. The Loudoun County project will be the first data center development for the Boston-based firm. TA Realty’s new data center campus will be situated on the east side of Sycolin Road with Cochran Mill Road to the north and Energy Park Drive to the south. With the initial buildings slated to come on line in late 2021, the fully built-out campus will feature over 1.5 million square feet of space with 300 megawatts of power and a dedicated onsite substation. According to Michael Haggerty, Managing Partner at TA Realty, the campus will house both hyperscale and cloud providers. The site is shovel-ready and positioned atop major fiber routes, according to TA Realty. According to the Loudoun County Department of Economic Development, much of the world’s internet traffic passes through the county’s digital infrastructure.
TAMPA, FLA. — Westmount Realty Capital LLC has bought Interstate Business Park, a seven-building suburban office/flex property in Tampa. The Class B, 12.5-acre business park is close to Interstates 75 and 4, U.S. Highway 301 and State Roads 60 and 618. The acquisition is Westmount’s first office purchase in Florida. The seller and sales price were not disclosed. Interstate Business Park, which also has a small portion of warehouse space with grade-level access, is 73 percent occupied with more than 32,000 square feet of vacancy. National credit, government and construction tenants at the property include Kissinger Campo & Associates, Cohen Veterans Network, Ferguson Enterprises, Flatwoods Consulting Group, Nova Engineering & Environmental and the Florida Department of Agriculture. Most current leases expire between 2023 to 2026, according to Westmount. The property has five two-story buildings and two one-story buildings. The seller, an institutional owner and operator, invested over $1.6 million dollars on capital improvements. Renovations in 2020 totaled more than $340,000 including exterior painting, window replacements, awning replacements, parking lot updates and an elevator remodel. Westmount Realty Capital is a Dallas-based commercial real estate company that specializes in value add and big opportunity investments within the U.S.
MESQUITE, TEXAS — The City Council of Mesquite, an eastern suburb of Dallas, has granted final approvals to Urban Logistics Realty for the development of Alcott Logistics Station, a $130 million industrial project that will be located near Mesquite Metro Airport. At full buildout, the industrial park will consist of approximately 2.3 million square feet of Class A space across six buildings. The site will also feature collaborative outdoor space, a walking trail and a water feature, as well as enhanced landscaping and a public park. The project is expected to add about 1,600 new jobs to the local economy.
GLENDALE HEIGHTS, ILL. — Associated, a supply chain solutions company, has signed a 44,300-square-foot industrial lease at 490 Windy Point Drive in Glendale Heights. The building, which will complement the company’s existing 87,000-square-foot headquarters, features 2,300 square feet of office space, recently updated interior finishes and fenced outdoor storage access. Corey Chase of Newmark represented the tenant in the lease transaction. The landlord information was undisclosed.
PALMYRA TOWNSHIP, N.J. — A partnership between St. Louis-based development firm Sansone Group and a private equity real estate fund backed by Crow Holdings Capital is underway on construction of Tac-Pal Logistics Center. The 702,450-square-foot industrial facility is located in Palmyra Township. The development team expects to complete the single-building property, which will feature modern design and build-to-suit opportunities, during the first quarter of 2022. Cushman & Wakefield and Avison Young have been tapped to lease the project.
PHILADELPHIA — GoldOller Real Estate Investments, a locally based multifamily owner-operator, will develop a $20 million, 157,000-square-foot self-storage facility in Philadelphia. The site of the new five-story, climate-controlled facility is located at 3145 Greys Ferry Road, adjacent to the Schuylkill Expressway in the University City area. The facility will be GoldOller’s second following the development of an 80,000-square-foot property in Philadelphia’s Fishtown neighborhood. CubeSmart operates that facility. GoldOller plans to break ground on the project in the coming weeks. A tentative completion date was not disclosed.
HAVERHILL, MASS. — Monogram Food Solutions, a manufacturer of prepared foods based in Memphis, will open a 135,000-square-foot production facility within Cedar Brook Park in Haverhill, a northern suburb of Boston. Paradigm Properties is developing the facility as a build-to-suit for Monogram that will consist of 109,000 square feet of multi-temperature warehouse space and a 26,000-square-foot sandwich assembly area. Massachusetts-based design-build firm Dacon Corp. is the design-build firm. Construction is underway and scheduled for completion in mid-2022.
CANTON, GA. — A joint venture between Lumpkin Development, MacArthur Holdings and Live Oak Capital Partners has broken ground on a 93,000-square-foot self-storage facility located at 7222 Cumming Highway in Canton, close to the Northside Hospital Cherokee campus. The property is slated to be open to the public in the spring of 2022. The self-storage facility will be located on 9.2 acres and will comprise of drive-up, climate-controlled units. JM Williams Contractors will construct the facility, and Renasant Bank is providing the debt financing for the project. Max Design Group is the project’s architect, and Travis Pruitt & Associates is serving as the civil engineering. The facility is Lumpkin Development’s first Class A storage property in the area. Lumpkin Development builds and operates self-storage, retail and industrial real estate throughout the Southeast. MacArthur Holdings is a New York City-based real estate business, and Live Oak Capital Partners is a real estate developer based in Atlanta.
ALLEN PARK, MICH. — Ford Motor Co. has unveiled plans for a new battery testing center named Ford Ion Park in the Detroit-area town of Allen Park in effort to accelerate research and development of battery and battery cell technology. A team of 150 experts in battery technology development, research, manufacturing, planning, purchasing, quality and finance will assist Ford in more quickly developing and manufacturing battery cells and batteries. Plans call for a $185 million, 200,000-square-foot collaborative learning lab in Southeast Michigan that is dedicated to developing, testing and building vehicle battery cells opens late next year. Ford’s Battery Benchmarking and Test Laboratory, which spans 185,000 square feet, opened late last year in Allen Park.
PISCATAWAY, N.J. — General Plumbing Supply Inc. (GPS) has signed a 300,000-square-foot industrial lease at Piscataway Logistics Center in Northern New Jersey. The property, which is situated on a 16-acre site and features a clear height of 36 feet and ample car and trailer parking, will serve as GPS’ headquarters, showroom and distribution center. Tim Cadigan, Matthew Turse and Grant Otto of Avison Young represented the landlord, a partnership between Transwestern Development Co. and QuadReal Property Group, in the lease negotiations. Ed English and Ron Ganter of Avison Young, along with Michael Schipper of Blau & Berg, represented GPS.