FORT WORTH, TEXAS — Dallas-based Holt Lunsford Commercial has negotiated a 40,625-square-foot industrial lease within Suffolk Business Park in Fort Worth. George Jennings and Thomas Grafton with Holt Lunsford represented the landlord, DFW SD Industrial. Gibson Duwe of Transwestern represented the tenant, Jess Hall’s Serendipity, a provider of food seasonings and sauces.
ROMULUS, MICH. — Meridian Design Build is nearing completion of two speculative industrial buildings at Ecorse Commons Industrial Park in Romulus. NorthPoint Development is the developer. The scope of the projects involved the redevelopment of a 69.5-acre parcel that was previously home to a General Motors engine test facility. Building 1 spans 409,158 square feet with a clear height of 36 feet, four drive-in doors, 213 auto parking spaces and 107 trailer parking stalls. Building 2 spans 245,390 square with a clear height of 32 feet, 195 auto parking spaces and 68 trailer parking stalls. Eugene Agnone III and Lauren Scarpace of CBRE marketed the buildings, which have been fully leased. Studio North Architecture and Hennessey Engineers made up the project team.
LENEXA, KAN. — Houston-based SparrowHawk LLC has acquired College and Renner Business Center in Lenexa for an undisclosed price. The 226,009-square-foot light industrial portfolio consists of four buildings ranging in size from 44,700 to 76,200 square feet. There are also 13 additional acres of developable land that SparrowHawk can utilize to expand the business center. At acquisition, the property was 91 percent leased to tenants such as GEICO, CVS Caremark, Mortgage Residential Center, SAFC BioSciences and US Foods. There is one vacancy of 19,871 square feet in Building A. SparrowHawk has selected JLL to manage the portfolio and the JLL brokerage team of Phil Algrim, Kevin Wilkerson and Erik Lund as the leasing agents. John Huguenard and Ed Halaburt of JLL represented the seller, BentallGreenOak.
PHOENIX — Newmark Knight Frank (NKF) has arranged the acquisition of a newly built distribution and manufacturing property located at 4615 W. McDowell Road in Phoenix. A Southern California-based private investor purchased the asset from CapRock Partners for $16.8 million in a 1031 exchange. The 146,500-square-foot facility can accommodate up to four light manufacturing and distribution tenants. The property features a concrete truck court, 30 dock-high and four grade-level loading doors, 32-foot clear heights, an ESFR sprinkler system, heavy power, 2,259 square feet of office space and ample parking. Rick Sheckter and Robert Stephens of NKF represented the buyer, while Payson MacWilliam and Don MacWilliam of Colliers International represented the seller in the transaction.
ALVARADO, TEXAS — Dallas-based Holt Lunsford Commercial has negotiated a 69,828-square-foot industrial lease in Alvarado, located about 35 miles south of Fort Worth. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, Hearthstone Properties, in the lease negotiations. The representative of the tenant, waste management firm Clean Earth, was not disclosed.
WHITE MARSH, MD. — Merritt Properties has purchased 10301 Philadelphia Road in White Marsh for $34.5 million. The property is a former GM Baltimore Global Propulsions Systems site that opened in 2000 to produce transmissions and electric motors before it closed in 2019. Bo Cashman and Jonathan Beard of CBRE represented the unnamed seller in the transaction. Located off Interstate I-95 near Interstate 695, the 56-acre project will be known as White Marsh Interchange Park. White Marsh Interchange Park is located within Merritt’s Baltimore County east portfolio, which has been 97 percent occupied since 2016. Baltimore-based Merritt Properties plans to construct up to nine, one-story buildings totaling approximately 750,000 square feet, which will create space for 50 to 100 businesses, leasing from 2,700 to 50,000 square feet or more. The company anticipates that these businesses will provide jobs for 1,200 to 1,500 people. Merritt Construction Services, the construction division of Merritt Cos., will manage future construction.
WOODLAND PARK, N.J. — A partnership between two New Jersey-based firms, Kushner Real Estate Group and The STRO Cos., has acquired land for the development of a 205,000-square-foot industrial building in Woodland Park, located in the northern part of the state. The cross-dock building will feature a clear height of 36 feet and is scheduled for completion early next year. Construction is scheduled to begin soon with the demolition of the existing 220,000-square-foot building, which formerly served as the headquarters of Kearfott Guidance & Navigation. Vertical construction is set to begin over the summer.
CLEVELAND — Compass Self Storage has acquired several self-storage centers that in total added over 183,000 net rentable square feet to the firm’s portfolio. The newest storage units are located at 9085 SW State Road 200 in Ocala, Fla.; 3300 Jodeco Road and 3497 Jodeco Road in McDonough, Ga.; and 5A Estate Drive in Bluffton, S.C. These three acquisitions bring Compass’ total property count to 98. Compass Self Storage has plans to upgrade all three properties, including upgraded security by offering smart locks, high definition video, lighting and individual access control. Compass Self Storage will also offer onsite truck rental services. These Compass Self Storage locations, as well as all Compass Self Storage centers nationwide, now offer contactless rentals. Compass Self Storage is a member of Cleveland-based Amsdell Cos. The three Southeast acquisitions were made by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC. The sellers and sales prices were not disclosed.
GARNER, N.C. — Wigeon Capital has broken ground on a new flex and warehouse construction project at Greenfield Business Park in the Raleigh suburb of Garner. Construction on the first building, a 58,000-square-foot facility, is underway at 3300 Waterfield Drive. The site is located at the intersection of US Highway 70 and Interstate 40. During the second quarter of this year, Wigeon Capital plans to break ground on a 96,000-square-foot shallow bay industrial facility that will feature tilt wall concrete walls and 32-foot clear heights. The Raleigh-based firm is also planning a three-building project on an adjacent parcel that will offer a 150,000-square-foot bulk distribution facility and two additional shallow bay industrial buildings of 58,000 and 48,000 square feet in size. Jimmy Barnes of Tri Properties | NAI Carolantic is overseeing leasing efforts at Greenfield Business Park.
ORANGE, CONN. — Locally based firm HK Group has brokered the $16 million sale of a 162,036-square-foot warehouse and distribution building in Orange, located in the southern coastal part of the state. The building was constructed on 15.1 acres in 1992 and was fully leased to Restaurant Depot and British paper goods company Bunzl at the time of sale. A seller based in Westchester County, New York, sold the asset to an undisclosed institutional investor. Matthew Keefe and Franco Fellah of HK Group brokered the deal.