HOUSTON — NAI Partners has brokered the sale of a 49,100-square-foot industrial property located at 10000 W. Airport Blvd. in Houston. According to LoopNet Inc., the single-tenant property was built on 5.8 acres in 1980. Chris Caudill and Griff Bandy of NAI Partners represented the seller, SES Properties LLC, in the transaction. Tiffany Sebastian of RE/max Vintage represented the buyer, Classic Chevrolet of Sugar Land.
BROOMFIELD, COLO. — NavPoint Real Estate Group has negotiated the sale of a multi-tenant office, flex and R&D investment asset in Broomfield. Silverwood Investments sold the property to 295 Interlocken Boulevard LLC for $11.2 million. Built 1965 on 5.5 acres, the single-story building features 65,000 square feet of multi-tenant flex space. At the time of sale, the property was leased to a variety of tenants in the technology, food and transportation industries. The property is located at 295 Interlocken Blvd. Matt Call of NavPoint Real Estate Group represented the seller, while Eric Rutherford of WK Real Estate represented the buyer in the transaction.
WEST CHICAGO, ILL. — Colliers International has brokered the sale of 1717 W. Harvester Road, a 465,940-square-foot industrial facility in West Chicago. The sales price was undisclosed. Situated on 30.5 acres, the property features a clear height of 25 feet, 145 car parking stalls, 23 loading docks and four drive-in doors. It is fully leased to two tenants. Boston-based Plymouth Industrial REIT purchased the asset. Jeff Devine and Steve Disse of Colliers represented the institutional seller.
COLUMBIA, S.C. — Colliers International has arranged the sale of a 37-property, 5.5 million-square-foot industrial portfolio spanning 16 counties in South Carolina. The portfolio was 83 percent leased to 57 tenants at the time of sale. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers International’s Columbia office represented the buyer, Cleveland-based Weston Inc., in the transaction. The seller was Reger Holdings LLC. The sales price and specific property details were not disclosed. According to CoStar Group, the transaction volume accounts for the largest single acquisition of properties within South Carolina in the past 10 years. Weston hired Colliers International | South Carolina and Columbia-based LCK Construction Services to handle brokerage, marketing, accounting, property management and project management for the portfolio, which includes a team of 40 professionals across Colliers’ Columbia, Charleston, Greenville and Spartanburg offices.
SPRING, TEXAS — LandPark Advisors LLC has acquired a 278-unit self-storage facility formerly known as Regal Self Storage in Spring, a northern suburb of Houston. The property was built on 1.8 acres in 2005 and features 43,025 square feet of net rentable space. LandPark will renovate the facility and rebrand it as Right Move Storage Spring. The seller was not disclosed.
PLANO, TEXAS — Marcus & Millichap has brokered the sale of Legacy Self Storage, a 128-unit facility in Plano. The 15,628-square-foot facility was built in 2002 and features 80 climate-controlled units and 48 non-climate-controlled units. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private family partnership, in the transaction. The duo also secured the buyer, a locally based investor.
PASADENA, TEXAS — Dunavant Distribution Group LLC, a logistics and supply chain operator, has signed a 137,280-square-foot industrial lease at Bay Area Business Park in the eastern Houston suburb of Pasadena. John Nicholson of Colliers International represented Dunavant, which now occupies just under 1 million square feet in Bay Area Business Park, in the lease negotiations. Justin Robinson and Jeff Pate of Stream Realty Partners represented the landlord, PEPF Red Bluff.
FENTON, MO. — U.S. Capital Development has broken ground on Building 7 within Fenton Logistics Park. The 190,350-square-foot building is designed for office, warehouse and manufacturing uses. It is slated for completion in the third quarter of this year. The spec building will feature a clear height of 28 feet, 46 trailer dock doors and more than 330 auto parking spaces. Impact Strategies is the general contractor. Since 2017, U.S. Capital Development has developed five buildings within the park, which is situated on the site of a former Chrysler assembly plant. Current tenants include BASF, BJC Medical Group, 1st Phorm, Nexius and Alkem Laboratories. Jon Hinds and Katie Haywood of CBRE market the park for lease.
MOUNTAIN VIEW, CALIF. — Google (Nasdaq: GOOGL) plans to invest $10 billion in office and data centers in 11 states this year that will create thousands of jobs. The 11 states will be Colorado, Georgia, Massachusetts, Nebraska, New York, Oklahoma, Ohio, Pennsylvania, Texas, Washington and California, according to Sundar Pichai, CEO of Google and its parent company, Alphabet Inc. In 2019, Mountain View-based Google announced it would invest $13 billion in major office and data center expansions in 14 states. Combined with other investments, Alphabet was the largest investor in the United States last year, according to the Progressive Policy Institute’s Investment Heroes 2019: Boosting U.S. Growth report. Data Centers Google plans to open or expand 13 data centers nationwide. Data center expansions in the South include locations in Georgia, Texas, Virginia, Alabama, South Carolina and Tennessee. In the Midwest, the company will open a new data center in Ohio and expand an existing center in Iowa. Nebraska and Oklahoma will see expanded data centers. Lastly, Google will expand data centers in Oregon and Nevada. Office Space Google plans to open new offices or expand its existing space in 19 communities. Google office expansions are slated for Minnesota, Wisconsin, Illinois …
Southeast Michigan has enjoyed a decade of prosperity surrounding the revitalization of downtown Detroit led by billionaire businessman and Quicken Loans Founder Dan Gilbert. Detroit has 580 million square feet of industrial space and is projected to see another 5 million square feet by 2021, much of that distribution-focused. In the past decade, Southeast Michigan has become a hub for driverless car technology. Toyota has announced plans to create an autonomous vehicle research facility in Ann Arbor and Ford Motor Co. has purchased the former Detroit train station to create an autonomous vehicle research center. In addition, the state of Michigan partnered with the University of Michigan to convert an old World War II air base into a 500-acre autonomous vehicle testing ground. The American Center for Mobility at Willow Run located in Ypsilanti Township operates as a global center for testing, research, education and product development, and serves companies such as Microsoft, AT&T, Ford, Toyota and Hyundai. The GM strike has recently been resolved, a relief to smaller automotive suppliers. High costs of construction, due to the international trade war as well as labor shortages, have resulted in limited inventory, therefore increasing the value of existing facilities. Construction, leasing …