TITUSVILLE, FLA. — North American Properties (NAP) has acquired 21 acres in Titusville to develop industrial and office space. Phase I of the project will include 135,000 square feet of commercial space spread across multiple buildings. DAG Architects is the designer, NAI Talcor is handling sales and leasing, The Taproot Agency is serving as an advisor, Collins Brown Barkett Chartered is providing legal counsel and Atkins is the civil engineer. NAP expects to have Phase I ready to lease in the next 12 months, according to Shawn McIntyre, NAP Florida managing partner. A timeline for construction was not disclosed. The land is situated on the southeast corner of U.S. Highway 1 and NASA Causeway, seven miles west of the Kennedy Space Center. This is the first project in Florida’s Space Coast for the Cincinnati-based developer, which was attracted to the area’s concentration of global aerospace giants such as SpaceX, Blue Origin, Boeing, Lockheed Martin and United Launch Alliance.
FALL RIVER, MASS. — Boston-based investment firm Rhino Capital Advisors has purchased a 200,000-square-foot data center located in the southern Massachusetts city of Fall River. Rhino Capital is acquiring the center in a sale-leaseback deal in which the seller has committed to a new 10-year lease at the newly built property. Brett Paulsrud and Madeline Joyce of JLL arranged a $10.3 million acquisition loan through Cambridge Savings Bank on behalf of the new ownership.
WEST SACRAMENTO, CALIF., AND SALT LAKE CITY — A joint venture between PCCP and The Koll Co. has purchased an eight-building industrial portfolio in West Sacramento and Salt Lake City. A private family trust sold the portfolio for $41.3 million. Totaling 510,7070 square feet, the assets were fully leased at the time of sale. The three California properties, totaling 226,000 square feet, are located within the Port of Sacramento Industrial Park. Built in 1987, the buildings feature 22- to 26-foot clear heights, dock-high doors, grade-level doors, wet sprinklers, reinforced concrete loading areas and ample parking. The remaining five properties, totaling 214,000 square feet, are located within Centennial Industrial Park in Salt Lake City. The buildings feature 24- to 27-foot clear heights, dock-high doors and grade-level doors. Bret Hardy and Kevin Shannon of Newmark Knight Frank represented the seller, while David Milestone of Newmark Knight Frank sourced acquisition debt from California Bank & Trust for the buyer.
THORNTON, COLO. — EverWest Real Estate Investors, in a joint venture with Invesco, has acquired a two-building speculative industrial project located at 14901 N. Washington St. in Thornton. RE II Industrial II sold the property, which fronts Interstate 25, for an undisclosed price. The acquisition includes an adjacent, pad-ready site where EverWest, serving as developer, plans to build a 121,000-square-foot Class A industrial building. The new facility will complement the existing 219,000 square feet of speculative industrial space at the site, which also includes 46.4 acres of undeveloped land. With the undeveloped land, EverWest has the option to build a second and third phase totaling an additional 590,000 square feet of new industrial space.
WEST VALLEY CITY, UTAH — The LeClaire Group of Marcus & Millichap has arranged the purchased of All American Storage in West Valley City. A regional real estate investor acquired the 8,800-square-foot self-storage facility for an undisclosed price. Built in 1997, the property features 45 drive-up, non-climate-controlled self-storage units and an on-site apartment. Units range in size from 100 square feet to 400 square feet, with the ability to reconfigure unit sizes to accommodate larger spaces. Additionally, the fully fenced and gated property features keypad access and 24-hour surveillance. Jordan Farrer of The LeClaire Group of Marcus & Millichap represented the buyer in the deal. The name of the seller was not released.
EL PASO, TEXAS — Amazon will open a 625,000-square-foot fulfillment center in El Paso, a move that marks the e-commerce giant’s entrance to that market and that is expected to create about 700 new full-time jobs. Local news station and ABC affiliate KVIA reports that the site will be located along Rojas Drive and Interstate 10 on the city’s east side. Construction is underway, and the facility is expected to open some time in 2021. KVIA also reports that Amazon did not seek any tax breaks or other economic incentives from the City of El Paso.
HUMBLE, TEXAS — Kalera, a Florida-based vertical farming company, has signed an 83,436-square-foot industrial lease to be the first tenant at Parc Air 59, a 279,500-square-foot development in the northern Houston suburb of Humble by Jackson-Shaw. The company will occupy the entirety of Building A, a rear-load property that is nearing completion and that features 28- to 32-foot clear heights, 130-foot truck courts and an ESFR sprinkler system. Mike Spears and Derek Riggleman of Lee & Associates represented Kalera in the lease negotiations. Jason Dillee and Nathan Wynne of Cushman & Wakefield represented Jackson-Shaw.
TWINSBURG, OHIO — Cornerstone Business Park in Twinsburg, a southern suburb of Cleveland, is now fully leased. Lowe’s will lease 180,000 square feet within the park’s most recently delivered asset, a 276,000-square-foot speculative building at 8601 Independence Parkway. Lowe’s will use the space as a distribution center. Terry Coyne of Newmark Knight Frank represented the owners and developers, Scannell Properties and DiGeronimo Cos. JLL represented Lowe’s. Cornerstone Business Park is located on the site of the former 1.8 million-square-foot Chrysler stamping plant. Scannell plans to add a final 279,000-square-foot speculative building at the park. Other tenants at Cornerstone include FedEx, Amazon, O’Reilly’s Auto Parts and Bridgestone.
CINCINNATI — Lightstone has acquired Harrison Distribution Center in Cincinnati for $25 million. The 580,000-square-foot distribution facility is leased to a distributor of food service supplies and merchandise. It features a clear height of 32 feet, 40 dock doors, ample parking and immediate highway access. Peter Rotchford of JLL arranged acquisition financing on behalf of Lightstone. Patrick Gallagher of CBRE represented the undisclosed seller. Lightstone owns more than 5 million square feet of industrial and retail properties nationwide.
SHOREWOOD, ILL. — Kenco Logistics Services has leased 381,874 square feet of industrial space at Heartland Corporate Center in Shorewood, about 10 miles west of Joliet. Heartland Corporate Center is a 757,880-square-foot warehouse located at 21530 SW Frontage Road. Chattanooga, Tenn.-based Kenco, a privately held third-party logistics firm, expects to take occupancy in December once interior improvements are completed. David Bercu and Matthew Stauber of Colliers International represented ownership, HSA Commercial Real Estate and Clarion Partners LLC. Sean Henrick of Cushman & Wakefield represented Kenco. Now fully leased, Heartland Corporate Center features a clear height of 36 feet, 108 truck docks and 240 car parking spaces. The other tenant is DSC Logistics.