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Industrial

J.G.-Petrucci-Wind-Gap-Pennsylvania
DevelopmentIndustrialNortheastPennsylvania

J.G. Petrucci, Cabot to Develop 318,440 SF Spec Industrial Project in Wind Gap, Pennsylvania

by Taylor Williams

WIND GAP, PA. — A partnership between locally based developer J.G. Petrucci Co. Inc. and Boston-based Cabot Properties will develop a 318,440-square-foot speculative industrial project in the Lehigh Valley city of Wind Gap. The property will feature a clear height of 36 feet, 39 dock-high loading positions, two drive-in doors, 54 trailer positions and ESFR fire protection. Jon Mikula and John Plower of JLL arranged the partnership between the two firms. A construction timeline was not disclosed.

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AcquisitionsIndustrialNew YorkNortheast

Elion Partners Acquires 180,000 SF Industrial Building in Queens

by Taylor Williams

NEW YORK CITY — Private equity real estate firm Elion Partners has acquired a 180,000-square-foot industrial building located approximately five miles from John F. Kennedy International Airport in the Jamaica neighborhood of Queens. The sales price was $58 million. According to commercialcafé.com, the Class B property was built on 5.3 acres in 1961. The seller was not disclosed.

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AcquisitionsIllinoisIndustrialMidwest

TIG Sells 2 MSF Michelin Distribution Center in Wilmington, Illinois

by Kristin Harlow

WILMINGTON, ILL. — Transwestern Investment Group (TIG) has sold the Michelin Super Regional Distribution Center in Wilmington, about 60 miles southwest of downtown Chicago. The sales price was undisclosed. A build-to-suit for Michelin, the 2 million-square-foot property is situated within Elion Logistics Park 55. The 2,500-acre rail-served industrial park features access to 30 percent of the U.S. population with a one-day drive, according to TIG. Michelin continues to occupy a long-term lease at the property. Nick Murphy and Josh McArtor of Eastdil Secured represented TIG in the sale. Silver Creek was the buyer.

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DevelopmentIndustrialTexas

Boomerang, CenterSquare to Develop 315,101 SF Spec Cold Storage Facility in Houston

by Taylor Williams

HOUSTON — A partnership between locally based developer Boomerang Interests and CenterSquare, a global investment manager based in metro Philadelphia, will develop Houston ColdPort, a 315,101-square-foot speculative cold storage facility. Building features will include 50-foot clear heights, 38 fully automated dock positions, a 200-foot truck court, 57 trailer parking spaces and the ability to accommodate up to 40,000 pallet positions. Dallas-based design-build firm ARCO/Murray is designing and constructing the property, which will be able to support one or two tenants. Completion is scheduled for the second quarter of 2022.

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IndustrialLeasing ActivityTexas

Midwest Hose & Specialty Signs 52,800 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams

CARROLLTON, TEXAS — Midwest Hose & Specialty Inc., an Oklahoma City-based firm that services the energy, agriculture, mining and construction industries, has signed a 52,800-square-foot industrial lease renewal at 1132 Valwood Parkway in the northern Dallas suburb of Carrollton. Transwestern’s Brett Owens and Clayton Johnson represented the tenant in the lease negotiations. Mitch Pruitt handled negotiations internally on behalf of the landlord, Prologis.

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AcquisitionsHealthcareIndustrialMassachusettsNortheast

Clarion Partners Buys 58,935 SF Biomanufacturing Facility in Braintree, Massachusetts

by Taylor Williams

BRAINTREE, MASS. — New York-based Clarion Partners has purchased a 58,935-square-foot biomanufacturing facility at 55 Messina Drive in Braintree, a southern suburb of Boston. The property features six wet labs, temperature-controlled rooms, a new water filtration system and 18.5-foot ceiling heights. The facility was fully leased to Zimmer Biomet, a global leader in musculoskeletal healthcare, at the time of sale. Scott Dragos of CBRE brokered the deal. The seller was not disclosed.

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Technicolor campus
AcquisitionsAlabamaIndustrialSoutheast

Phoenix Investors Acquires Technicolor’s 1.4 MSF Industrial Campus in Huntsville

by Julia Sanders

HUNTSVILLE, ALA. — An affiliate of Milwaukee-based Phoenix Investors has acquired the Technicolor Campus located at 4905 Moores Mill Road in Huntsville. The industrial property spans 1.4 million square feet and sits on approximately 161 acres. Daniel Stubbs of Binswanger brokered the sale. Technicolor, which is exiting the property in August, uses the campus for disc manufacturing, warehousing and distribution fulfillment. The property features 916,000 square feet in warehouse and distribution space; 425,000 square feet in manufacturing and production space; and 30,000 square feet of office space. The property was last renovated in 2007. The property features 27- to 42-foot clear heights, 50 docks and six drive-in doors.

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North-Quarter-35-Fort-Worth
DevelopmentIndustrialTexas

M2G Ventures Completes 645,000 SF North Quarter 35 Industrial Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based developer M2G Ventures has completed North Quarter 35, a 645,000-square-foot industrial project in Fort Worth. The Class A, cross-dock facility is located along Interstate 35 within the TexasAlliance Mobility Innovation Zone on the city’s north side. GSR Andrade designed the project, and FCL Builders served as the general contractor.

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Urban-District-183-Euless-Texas
DevelopmentIndustrialTexas

Urban Logistics Realty to Develop 367,000 SF Industrial Project in Metro Dallas

by Taylor Williams

EULESS, TEXAS — Locally based developer Urban Logistics Realty will build Urban District 183, a three-building, 367,000-square-foot industrial project that will be located in the metroplex city of Euless. The project will be situated on the 22-acre site of the former Cooper’s Driving Range at the corner of Pipeline Road and Industrial Boulevard. Stream Realty Partners has been tapped to lease the development, which will consist of a 100,000-square-foot rear-load building, a 191,000-square-foot front-load building and a 75,000-square-foot side-load building. Construction is scheduled to begin in May and to wrap up in the second quarter of next year.

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AcquisitionsIndustrialOklahomaTexas

Corinth Land, Prattco Creekway Buy Two Industrial Buildings Totaling 121,600 SF in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — A partnership between Fort Worth-based Corinth Land Co. and Dallas-based Prattco Creekway Industrial has purchased two industrial buildings totaling 121,600 square feet in Oklahoma City. The buildings are situated on a combined 14.3 acres on the city’s southwest side and are leased to tenants such as Fred Jones, Overhead Door Corp. and TireHub. Veritex Bank provided acquisition financing for the deal, and Western Product Co. contributed equity. The seller(s) was not disclosed.

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