TEXARKANA, TEXAS — TexAmericas Center (TAC) has completed the remediation of 6,800 acres in Texarkana, located near the Texas-Arkansas border, to meet standards for commercial and industrial development. Last week, the Texas Commission on Environmental Quality removed the U.S. Army’s Resource Conservation and Recovery Act (RCRA) permit from the property, thus opening up the acreage for development. The land is a portion of the former Lone Star Army Ammunition plant. Remediation efforts began in 2010, and in recent years, TAC and its partners have invested more than $40 million in remediation activities and improved infrastructure to advance job and capital creation in the region. TAC is an owner-operator of one of the country’s largest industrial parks, with roughly 12,000 development-ready acres and 3.5 million square feet of commercial and industrial product serving four states.
COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net sale-leaseback transaction. Washington Federal Bank provided acquisition financing for the venture.
FREDERICK, MD. — Cushman & Wakefield has arranged the $7.7 million sale of a 75,400-square-foot industrial building located at 7495 New Horizon Way in Frederick. The facility is situated within Frederick Corporate Park. Scott Matthew, Peter Rosan, Megan Williams and Frank Andrews of Cushman & Wakefield represented the seller, Finmarc Management Inc, while CBRE represented the buyer, Valogic, in the transaction. Frederick Corporate Park was acquired by Finmarc Management in 2020 and is home to nine office/flex buildings and one multi-story office building totaling about 350,000 square feet.
DALLAS AND SAN ANTONIO — JLL has arranged $48.5 million in financing for a four-building, 505,719-square-foot industrial portfolio that includes cold storage space in Dallas and San Antonio. The portfolio includes two net-leased assets in infill submarkets at 3551 Dan Morton Drive in Dallas and 2001 S. Laredo St. in San Antonio that were acquired in January in a sale-leaseback with custom food manufacturer Surlean Foods. Christopher Drew, Maxx Carney, Reid Carleton, Jeremy Womack and Jarrod McCabe of JLL arranged the three-year, floating-rate loan on behalf of the borrower, MDH Partners. An undisclosed local bank provided the funds.
WEST DUNDEE, ILL. — The Opus Group has completed the headquarters for WEN Power Tools in West Dundee, a far northwest Chicago suburb. The 180,623-square-foot build-to-suit features 4,000 square feet of office space, a 1,900-square-foot showroom, 21 dock doors, two drive-in doors and a clear height of 32 feet. Additionally, there is a 2,000-square-foot office buildout on the north side of the building that WEN will lease out on a short-term basis. WEN consolidated its three local facilities and workforce to streamline warehouse and distribution operations at the new headquarters. Opus provided development services and also served as design-builder, interior designer, architect and structural engineer. This is the eighth project that Opus has completed in Oakview Corporate Park.
INDIANAPOLIS — Stan Johnson Co. has arranged the sale-leaseback of a 50,000-square-foot industrial facility located at 705 S. Girls School Road in Indianapolis. The sales price was undisclosed. Katie Elliott of Stan Johnson marketed the property with Chip Sipple of Lincoln Property Co. on behalf of the seller, Applied Composites Inc. A New York-based investor group was the buyer. The seller is a manufacturer of composites with expertise in the commercial aerospace, defense and space industry. Composites are formed from the combination of two or more constituent materials. The seller executed a long-term triple net lease at closing.
HANOVER, MD. — HLNP LLC has sold Last-Mile @ BWI, an industrial outdoor storage site located at 1200 Stoney Run Road in Hanover, for $21.1 million. The industrial-zoned land is 100 percent leased and was sold to NorthBridge Partners. Cris Abramson, Brian Kruger, Ben McCarty and Nicholas Signor of Newmark brokered the sale. Located directly adjacent to Baltimore-Washington International Airport (BWI), Last Mile @ BWI sits on 13.6 acres within Baltimore Commons Industrial Park, a 34-building campus spanning 4.1 million square feet. The site includes about nine acres of paved parking and storage and offers the potential to build Class A industrial product in the Baltimore-Washington Corridor.
DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas. The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022. Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.
DALLAS — Gulf Relay, a third-party logistics company based in Mississippi, has signed a 350,150-square-foot industrial lease at Crossroads Trade Center 1 in South Dallas. The company currently operates out of Coppell, and the new lease raises its total footprint in the metroplex to roughly 460,000 square feet. Ward Richmond and James Ewing of Colliers International represented Gulf Relay in the lease negotiations. Kurt Griffin and Nathan Orbin of Cushman & Wakefield, along with internal agents Jack Stamets and Andy Lowe, represented the landlord, New York-based Clarion Partners.
AURORA, ILL. — Colliers International has brokered the sale of Butterfield VI Distribution Center, a 503,244-square-foot facility in Aurora, located about 40 miles west of Chicago. Situated on 34.5 acres at 2350 Frieder Lane, the warehouse features a clear height of 36 feet and parking for 125 trailers and 286 cars. Built in 2020, the property is 66 percent leased to LGSTX Distribution Services. It is located within the larger Butterfield Center for Business and Industry. Jeff Devine and Steve Disse of Colliers represented the seller, a partnership between Sterling Bay Industrial, Development Resources Inc. and Levy Family Partners. An institutional investment advisor purchased the asset for an undisclosed price.