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Industrial

Four-Oaks-Distribution-Center-Schertz
DevelopmentIndustrialTexas

Phelan-Bennett, Rosewood Begin Work on 170,000 SF Spec Industrial Project in Schertz, Texas

by Taylor Williams

SCHERTZ, TEXAS — Phelan-Bennett Development and its equity partner, Dallas-based Rosewood Property Co., have broken ground on Four Oaks Distribution Center, a 170,000-square-foot speculative industrial project in the northeastern San Antonio suburb of Schertz. The rear-load facility will be situated on a 9.5-acre site near Tri-County Industrial Park. Building features will include 30-foot clear heights, 32 dock doors and 147-foot truck court depths. Construction is expected to be complete in the fourth quarter. Calvin J. Coatsworth Architects is designing the facility, and R.C. Page Construction is serving as general contractor. JLL will handle leasing. Completion is tentatively slated for the fourth quarter.

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Medley Light
AcquisitionsFloridaIndustrialSoutheast

CBRE Negotiates Sale of 154,479 SF Warehouse in Medley, Florida

by Julia Sanders

MEDLEY, FLA. — CBRE has executed the sale of Medley Light Industrial, a 154,479-square-foot warehouse located at 14001 NW 112th Ave. in Medley. TA Realty, a Boston-based institutional investor, purchased the facility, which was 24 percent leased at the time of sale. Christian Lee, Chris Riley and José Lobón of CBRE represented the seller, a joint venture between EverWest Real Estate Investors and TRX Investments, in the transaction. The sales price was not disclosed. Medley Light Industrial features 32-foot clear heights, a rear loading configuration with dock-high doors, 120-foot truck court depths, ESFR sprinklers and 8 percent overall office finish. Amy Julian, Royce Rose, Devin White and David Albert of CBRE assisted in the transaction.

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DevelopmentIndustrialMidwestMissouri

Hunt Midwest to Expand SubTropolis by Additional 700,000 SF

by Kristin Harlow

KANSAS CITY, MO. — Hunt Midwest has unveiled plans to build out an additional 700,000 square feet of Class A space in SubTropolis, the world’s largest underground business complex, located in Kansas City. The expansion, built on a speculative basis, will provide tenants with space for warehousing and distribution operations. With more than 7 million square feet of industrial space, SubTropolis offers lower operations and leasing costs than traditional above-ground industrial buildings, according to Hunt Midwest. It also offers a naturally temperature-controlled climate, helpful for storing inventory with a limited lifespan or specific temperature needs. A substantial portion of the business complex is currently utilized for e-commerce; archival and document storage; pharmaceutical and animal health facilities; and food distribution.

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IllinoisIndustrialMidwestOffice

Clear Height Properties Recapitalizes 15-Property Industrial Portfolio, Forms JV with Harbert

by Kristin Harlow

OAK BROOK, ILL. — Clear Height Properties has completed a more than $55 million recapitalization of a 15-property industrial portfolio through the formation of a joint venture partnership with Harbert U.S. Real Estate. The transaction provides capital for Clear Height to utilize in pursuing its goal of doubling in size over the next 12 months, according to a news release. The portfolio totals more than 1 million square feet throughout metro Chicago and is home to 130 tenants. Most of the properties are multi-tenant facilities that are approximately 90 percent leased. Oak Brook-based Clear Height owns more than $250 million of industrial and office assets. Kurt Sarbaugh, Christopher Carroll and Robin Stolberg of JLL arranged the recapitalization.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 320-Unit Self-Storage Facility in Huntsville, Texas

by Taylor Williams

HUNTSVILLE, TEXAS — Marcus & Millichap has brokered the sale of A Space Place Self Storage, a 320-unit self-storage facility in Huntsville, about 70 miles north of Houston. The property spans 50,940 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller and the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

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DevelopmentIndustrialTexas

Catamount, HDA Architects Complete 61,300 SF Industrial Expansion Project in Beaumont

by Taylor Williams

BEAUMONT, TEXAS — General contractor Catamount Constructors and St. Louis-based HDA Architects have completed a 61,300-square-foot industrial expansion project for Giglio Distributing in Beaumont. The project added a 40,000-square-foot warehouse; a 12,800-square-foot receiving dock area; 5,900-square-foot side bay loading area; 1,600 square feet of office space; and an 800-square-foot customer pickup space. Prior to the expansion, the facility spanned 74,000 square feet of warehouse and office space. Giglio Distributing is a locally based wholesale alcoholic beverage distributor that also carries some select non-alcoholic brands.

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IndustrialLeasing ActivityTexas

Lee & Associates Negotiates 39,812 SF Industrial Lease Near Fort Worth

by Taylor Williams

SOUTHLAKE, TEXAS — Lee & Associates has negotiated a 39,812-square-foot industrial lease at 415 Bank St. in the Fort Worth suburb of Southlake. The space is located within Southlake Business Park, a three-building, 182,129-square-foot complex. Mark Graybill of Lee & Associates represented the tenant, logistics firm Technical Transportation, in the lease negotiations. Holt Lunsford Commercial represented the landlord, Southlake Industrial.

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VanTrust-North-Las-Vegas-NV
DevelopmentIndustrialNevadaWestern

VanTrust Acquires 350 Acres in North Las Vegas for 4.5 MSF Industrial Development

by Amy Works

NORTH LAS VEGAS, NEV. — VanTrust Real Estate has purchased a 350-acre land site north of the Interstate 15 and Speedway Boulevard interchange in North Las Vegas. VanTrust plans to develop 4.5 million square feet of distribution facilities on the site, which is between the new City of North Las Vegas water line and the Union Pacific Rail line. Construction of utility and roadway improvements is slated to begin in the third quarter of 2021, with building construction following shortly thereafter. This land purchase comes on the heels of the VanTrust’s acquisition of 16 acres for the development of a 246,000-square-foot speculative industrial distribution building at the northwest corner of Tropical Parkway and Nicco Way in North Las Vegas. The building is slated for completion in March 2022 and will be VanTrust’s 11th building developed in North Las Vegas in the past five years.

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Harvill-Business-Center-Perris-CA
AcquisitionsCaliforniaIndustrialWestern

Core5 Industrial Sells 423,665 SF Harvill Business Center in Perris, California

by Amy Works

PERRIS, CALIF. — Atlanta-based Core5 Industrial Partners has completed the sale of Harvill Business Center, a modern logistics facility in Perris. Black Creek Group bought the asset for an undisclosed price. Completed in early 2020, the 423,665-square-foot property features a Ductilcrete concrete floor slab, 36-foot clear heights, 2.5 percent skylights, LED lighting, a gated concrete truck yard, on-site truck staging and low-water landscaping. American Standard, a subsidiary of Lixil Corp. and a North American plumbing and building products manufacturer, occupies Harvill Business Center on a long-term basis. Michael Chavez of Lee & Associates represented the seller and buyer in the transaction.

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1666-N-McClintock-Dr-Tempe-AZ
AcquisitionsArizonaIndustrialWestern

Realterm Buys FedEx-Occupied Distribution Center in Tempe for $27M

by Amy Works

TEMPE, ARIZ. — Realterm, a Maryland-based logistics real estate firm, has purchased a distribution facility located at 1666 N. McClintock Drive in Tempe. A local real estate investment firm sold the property for $27 million. Constructed in 2004 as a build-to-suit for FedEx, the single-story, 145,872-square-foot building features 24-foot clear heights, 11 grade-level overhead doors, 26 dock-high doors and a three-lane driveway along McClintock Drive. FedEx recently signed a triple-net lease extension at the last-mile property. Geoffrey Turbow, Gary Cornish, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Bryan Johnson and Bill Bayless of CBRE represented the seller in the deal.

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