HOUSTON — Newcor Commercial Real Estate has brokered the sale of a 21,261-square-foot office and warehouse building located at 3367 N. Sam Houston Parkway W. in Houston. The property is situated on 1.3 acres and offers two conference rooms, executive offices, a gym and two kitchen areas. David Alexander of Newcor represented the seller, NOCNIR LLC, in the transaction. Josh Morrow of Avison Young represented the buyer, DLAC Ventures LLC.
BATAVIA, ILL. — Principle Construction Corp. has completed a new 102,140-square-foot warehouse on behalf of developer Midwest Industrial Funds at 1100 N. Raddant Road in Batavia. The project includes 97,040 square feet of warehouse space and 5,100 square feet of office space. The building features 10 dock positions, two drive-in doors, 125 car parking spaces, LED lighting and a clear height of 30 feet. Harris Architects provided design services.
NILES, ILL. — Deibel Laboratories has purchased a 17,450-square-foot office and warehouse facility at 6150 Mulford St. in Niles, located about 15 miles northwest of downtown Chicago. The company, which serves the food diagnostics and personal care industries, is relocating from Lincolnwood. The new facility features 53 parking spaces and one truck dock. Nick Walby of Entre Commercial Realty represented Deibel while Chris Volkert of Colliers International represented the undisclosed seller. Deibel maintains 11 laboratories across North America.
SWEETWATER, TEXAS — Georgia-Pacific has announced plans to break ground on a $285 million production plant for the company’s gypsum division near Sweetwater. The new facility will be located adjacent to the company’s existing plant on Highway 1856 in Nolan County. Georgia-Pacific’s gypsum division produces a variety of products used in residential and commercial construction, including sub-floors, exterior sheathing, drywall, roofing and fire doors. The two operations combined will be capable of supplying customers and distribution partners with more than 1 billion square feet of products each year. “The demand for our diverse gypsum products continues to be strong, especially in Texas,” says Brent Paugh, president of Georgia-Pacific gypsum. “By having two production lines in Nolan County, Georgia-Pacific can strengthen its capacity to meet our growing customer needs in Texas’ residential, commercial and industrial construction.” Construction on the new facility is set to begin immediately with completion slated for late 2022. Once operational, the new plant will employ approximately 120 full-time employees. The existing Sweetwater facility employs 115 people with an annual payroll of approximately $9.9 million and is one of 12 Georgia-Pacific manufacturing facilities in Texas. Further details on the design of the new development were undisclosed. Atlanta-based Georgia-Pacific …
NORCROSS, GA. — JLL has arranged the $11.7 million sale of Plaza 85 Business Park, a nine-building industrial and office building campus in Norcross. The property comprises 191,526 square feet and is situated on 13.8 acres. The industrial building feature 12- to 18-foot clear heights, dock-high and drive-in doors and a combination of rear- and front-loading configurations. At the time of sale, the asset was leased to 31 tenants. The business park is situated at 5970-6040 Unity Drive, less than one mile from Interstate 85 and 18 miles northeast of downtown Atlanta. Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor of JLL represented the seller, Sperry Equities, in the transaction. Atlanta-based WePartner purchased the asset.
KYLE, TEXAS — Amazon has debuted its 308,000-square-foot sortation facility within Kyle Crossing Business Park in Central Texas. This facility is being used to sort packages before being transferred to a delivery station or last-mile delivery partner for final delivery to customers. More than 1,130 full- and part-time associate jobs have already been created through the opening of the facility, which is located just off Interstate 35. California-based Majestic Realty Co. owns the building.
DALLAS — HSM Equity Partners, the development arm of Henry S. Miller Cos., will build a 15,540-square-foot industrial project in Dallas for OTR Fleet Service, a provider of maintenance services for commercial vehicles. Huntley Luna and Nick Robinson of Henry S. Miller Brokerage represented the developer, I-20 Industrial LP, in the acquisition of the 14.6-acre tract on which the project will be developed. Tom Clarke of Transwestern represented the seller, HCH Farms Ltd. Mark Smith of HSM Equity Partners will develop the facility.
WORCESTER, MASS. — Marcus & Millichap has brokered the sale of a 301-unit CubeSmart self-storage facility in the central Massachusetts city of Worcester. The property features 19,776 square feet of net rentable climate-controlled space. Nathan Coe, Brett Hatcher, Gabriel Coe and Joseph French Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was also an undisclosed limited liability company.
WILMINGTON, OHIO — KeyBank Real Estate Capital has provided a $17.6 million CMBS loan for the acquisition of a 615,000-square-foot warehouse in Wilmington, located between Cincinnati and Columbus. Built in 1990, Progress Park is home to tenants such as G&J Pepsi-Cola Bottlers and Greencore USA. Jake Proctor of KeyBank structured the 10-year, fixed-rate loan, which features three years of interest-only payments followed by a 30-year amortization schedule. I3 Investors, an Indianapolis-based private real estate investment firm, was the borrower.
ROMEOVILLE, ILL. — King Solutions has signed a 138,000-square-foot industrial lease at 200 S. Pinnacle Drive in Romeoville. The provider of custom logistics solutions will relocate from 500 Regency Drive in Glendale Heights once the new lease commences in November. The property features 42 trailer positions, 28 docks, 2,000 square feet of office space and a clear height of 32 feet. Mike Morgan, Brian Netsky and Jim Herbst of Colliers International represented the tenant in the lease transaction. The landlord was undisclosed.
