DALLAS — Leon Industrial, a division of locally based development and investment firm Leon Capital Group, has begun construction on a 118,178-square-foot project near Dallas-Fort Worth (DFW) International Airport. The facility will be known as 161 Airport Center and will feature 32-foot clear heights, 130-foot truck court depths, an ESFR sprinkler system, up to 28 trailer parking spaces and additional outside storage space. Stream Realty Partners is the leasing agent. Completion is slated for late this summer.
SPANISH FORK, UTAH — The Ritchie Group is developing Global Logistics Headquarters Development Park, a speculative industrial development in Spanish Fork. Located at 2100 N. 700 West, the project will feature 13 buildings totaling more than 3.2 million square feet of industrial space. The 1.9 million-square-foot first phase is scheduled for delivery by the end of the year, with full project completion expected by 2031. The development will feature tall clear heights, ample parking for trucks and cars, build-to-suit options tailored to tenant need and immediate access to Interstate 15. Jarrod Hunt, Gordon Jacobson and Andy Blunt of Colliers are handling leasing for the development.
BURBANK, CALIF. — Los Angeles-based Dunleer has purchased a two-building warehouse asset, located at 3312-3314 and 3318 Burton Ave. in Burbank, from a local family for $5 million, or $283 per square foot. Chad Gahr and David Young of NAI Capital represented the buyer, while Mike Maniscalchi of Systems Real Estate represented the seller. At the time of sale, the 17,726-square-foot property was 67 percent vacant. The asset features three units and is adjacent to the Hollywood Burbank Airport.
MOUNT COMFORT, IND. — Simply Good Foods has signed an 805,000-square-foot industrial lease for seven years in Mount Comfort, an eastern suburb of Indianapolis. The tenant is known for its Quest protein bars and shakes. The Class A building features a clear height of 40 feet, an abundance of trailer and auto parking and accessibility to major transportation routes. The Mount Comfort project is now fully leased. The landlord, CT Realty, has also leased its adjacent 250,000-square-foot facility to Schlage Lock.
LITTLE CANADA, MINN. — Kids in Need Foundation has signed a long-term, 74,364-square-foot industrial lease at 200 S. Owasso Blvd. in Little Canada. The nonprofit organization, which is dedicated to providing suppliers and resources to teachers and students in underserved schools, plans to relocate and occupy the entire building later this spring. The new lease represents an expansion from the organization’s previous home in St. Paul. The new facility will feature a resource center where teachers can access donated school supplies at no cost. The property features nearly 20,000 square feet of office space and 55,000 square feet of warehouse space as well as 54 surface parking spaces and outdoor storage options. John Thompson and Alex Baron of Transwestern Real Estate Services represented the owner, JHM Owasso Properties. Stephen Davidson of Davidson Cos. Inc. represented the tenant.
SANTA CLARA, CALIF. — NVIDIA Corp. (NASDAQ: NVDA), a Santa Clara-based tech firm that primarily designs and manufactures graphics processing units (GPUs) for artificial intelligence (AI) use, plans to develop two new AI supercomputer manufacturing plants in Texas. The new projects will include a plant in Houston that NVIDIA is co-developing with Foxconn and a factory in Dallas that NVIDIA is building with Wistron. Further real estate specifics for the new facilities were not shared, but NVIDIA plans to create “digital twins” to design and operate the factories, which will be reliant on automation and robotics. Mass production of NVIDIA AI supercomputers at both plants is expected to ramp up in the next 12 to 15 months, according to NVIDIA. Additionally, NVIDIA announced that it has started production of NVIDIA Blackwell chips at the TSMC Arizona campus in Phoenix. NVIDIA is partnering with Amkor and SPIL for packaging and testing operations in Arizona. The new Texas plants and the production of NVIDIA Blackwell chips in Arizona are part of the company’s $500 billion push to mass produce NVIDIA AI supercomputers on U.S. soil, which would represent the first time that the company’s supercomputers were made entirely domestically. Together, the announcements …
— By Rebecca Lloyd of Cushman & Wakefield — Industrial market conditions in Salt Lake City softened a bit in 2024, with new leasing activity totaling just over 5 million square feet — a 19 percent decrease from the 6.2 million square feet recorded in 2023. Despite this decline, new sublease activity saw a 33 percent year-over-year increase, reaching 735,000 square feet. Salt Lake City’s Northwest submarket remains the dominant area, accounting for 62 percent of total leasing activity in 2024. This was followed by the Southwest at 28 percent. Collectively, they comprise 90 percent of all leasing transactions in the market. Vacancy rates ended the year at 5.9 percent, a modest 50 basis point increase from the previous year. In a positive shift, the market closed the year with 3.7 million square feet of positive net absorption, a significant increase from the 2.3 million square feet recorded in 2023. The average asking rent for all product types stood at $0.81 per square foot on a triple-net basis, up from $0.80 at the end of 2023. Industrial construction remained robust, with nearly 4.7 million square feet of new space delivered in 2024. This added to the 7 million square feet …
BUTTE, MONT. — The LeClaire-Schlosser Group of Marcus & Millichap has brokered the sale of Grand Storage, a self-storage facility in Butte. An owner-operator acquired the 33,980-square-foot asset from a regional self-storage owner and developer for an undisclosed price. Built in 2004 and expanded in 2023, Grand Storage offers 266 units on 3.4 acres. Onsite amenities include electronic gated entry with a digital keypad and automatic gate at the exit, a manufactured house with office and one-bedroom apartment, metal roll-up doors and security monitoring with 24/7 video surveillance throughout the facility. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller and procured the buyer in the deal.
AUSTIN, TEXAS — JLL has brokered the sale of Driftwood Self Storage, a 482-unit facility in southwest Austin. Constructed on 13.5 acres in 2021, Driftwood Self Storage comprises 96,433 net rentable square feet of climate-controlled space. The property, which was roughly 93 percent occupied at the time of sale, also features drive-up units, covered parking and fully enclosed RV units. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the Houston-based seller, The Jenkins Organization, in the transaction and procured the buyer, California-based Platinum Storage Group.
ROANOKE, TEXAS — Gruns Nutrition has signed a 37,581-square-foot industrial lease in the North Texas city of Roanoke. The provider of dietary supplements will occupy about half the space at the building at 215 Fairway Circle, which was completed last fall for its California-based owner-occupant, Aircraft Spruce. Todd Lambeth and Luke Clardy of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. George Curry of JLL represented the tenant.