OMAHA, NEB. — Investors Realty has brokered the sale of the Hi-Park Campus in Omaha for $11.4 million. The asset consists of eight flex industrial buildings that were fully leased at the time of sale. Located on the southeast corner of 94th and F streets, the campus spans 150,000 square feet. Ember Grummons of Investors Realty represented the buyer, Fulton Acquisitions. Clint Seemann of Investors Realty and John Dickerson of OMNE represented the seller, Hannibal Properties.
COTTAGE GROVE, MINN. — The Opus Group will build a 35,600-square-foot expansion for North Star Sheets at Southeast Industrial Park in Cottage Grove, about 10 miles south of St. Paul. North Star Sheets, a producer of corrugated paper products for manufacturing needs, currently occupies a 168,000-square-foot building on 16 acres. The company will use the expansion to increase capacity and add another rail spur to enhance its rail service infrastructure. Opus will serve as developer, design-builder, architect and structural engineer. Hillcrest Development LLLP owns Southeast Industrial Park. Eric Rossbach and Andy Heieie of Colliers International are the leasing agents for the property.
FORT WORTH, TEXAS — HomeGoods, a division of Massachusetts-based discount retail giant TJX Cos., will open a 1 million-square-foot distribution center within Carter Park East, a 556-acre industrial development in Fort Worth. The 100-acre build-to-suit property will also serve as a regional distribution center for HomeGoods’ sister brand, Homesense. Seth Koschak, Jeff Rein and Forrest Cook of Stream Realty Partners represented the developers of the building, New York-based Clarion Partners and a fund advised by Crow Holdings Capital, in the lease negotiations. Tony Kepano and Nathan Lawrence with CBRE represented the tenant. Rob Riner Cos. is the master developer of Carter Park East, which is located south of Interstate 20 and east of Interstate 35 on the south side of Fort Worth.
FORT WORTH, TEXAS — Dallas-based Stonemont Financial Group has broken ground on three speculative industrial buildings totaling 699,000 square feet in Fort Worth. The developments will consist of a 213,000-square-foot building at FM 156 near Chaplin Drive and two buildings totaling 486,000 square feet at Golden Triangle and Harmon Road. Construction of all three buildings is set to begin in the coming weeks, with completion of the first project slated for March 2022 and delivery of the second and third buildings scheduled for May 2022.
ARLINGTON, TEXAS — JLL has negotiated the sale of a 12-building, 582,803-square-foot industrial portfolio in Arlington. The portfolio includes 109th Street Business Park (414,724 square feet), 2821 East Randol Mill (40,000 square feet), 1170-1180 109th Street (93,079 square feet) and 3016-3030 Avenue East (35,000 square feet). The infill buildings were collectively 77 percent leased at the time of sale. Stephen Bailey, Dustin Volz, Dom Espinosa, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based investment firm Fort Capital, in the transaction. The buyer was Arden Group, a national investment management firm.
LOGAN TOWNSHIP, N.J. — Developer J.G. Petrucci Co. Inc. has broken ground on Port Logistics Center at Logan, a 1.8 million-square-foot industrial project in Logan Township, located in the southern part of the state. Construction is underway on Building A, which will span 1 million square feet and feature a clear height of 40 feet, 663 vehicle parking spaces and 241 trailer parking spaces. Completion of Building A is slated for the fourth quarter. The other three buildings, which total 261,000, 253,500 and 331,870 square feet, are currently being marketed for lease.
AMHERST, N.H. — Empire Moulding & Millwork, a division of Novo Building Products, has signed a 217,000-square-foot industrial lease in Amherst, located outside of Nashua in the southern part of the Granite State. The facility is expected to open in the fourth quarter and to employ at least 70 people. Novo Building Products is a Michigan-based manufacturer and distributor of stair parts, mouldings, doors and specialty millwork, along with a variety of board products.
ORLANDO, FLA. — Colliers International has brokered the sale of Park Center, a 200,400-square-foot industrial complex in Orlando. The Geneva Group, a real estate investment and property services firm based in Deerfield Beach, Fla., has purchased the property for $19 million. A private investor group doing business as Park Center Properties LLC was the seller. Park Center, which was fully leased at the time of sale, is located west of North John Young Parkway and north of Lake Breeze Drive, in Orlando’s Northwest Orange submarket. The transaction included eight parcels with a total of 16.7 acres. In addition to one vacant lot, the property includes six single-story small bay warehouses and one dock-high warehouse and assembly building. Geneva Group has begun on renovations of Park Center, including new paint and roofs, enhanced lighting, a parking lot overlay and new signage. Park Center was leased to 44 tenants at the time of the sale to predominantly local and regional businesses. Joe Rossi and Nick Hanson of Colliers brokered the transaction. With the acquisition of Park Center, Geneva Group now owns 631,352 square feet of industrial space in Central Florida.
HUMBLE, TEXAS — Montgomery, Texas-based brokerage firm West Star Marketing Group has arranged the sale of Airport Commerce Park, a 305,000-square-foot office flex property in the northern Houston suburb of Humble. The property is situated on 16.3 acres at 5950 Sam Houston Parkway. Fort Worth-based Fort Acquisitions purchased the property from Houston-based Redhorn Capital for an undisclosed price. Tom Clarkson of West Star brokered the deal.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated the sale of Parkway Business Center, a 73,600-square-foot flex property in Grand Prairie. Shane Benner and Josh Meraz of Bradford represented the seller, a California-based entity doing business as WC Parkway Business Center LLC, in the transaction. Rich Young Jr. of Rich Young Cos. represented the buyer, a Los Angeles-based limited liability company. Parkway Business Center was 97 percent leased at the time of sale.
