HARVARD, ILL. — A joint venture of Brennan Investment Group LLC and a client of Arch Street Capital Advisors LLC has acquired a 1.3 million-square-foot distribution facility occupied by True Value Co. in Harvard, located approximately 30 miles northeast of Rockford, Ill. The purchase price was not disclosed. True Value, a hardware wholesaler, has occupied the property since 1998. This is the final acquisition in a portfolio owned by Brennan and Arch Street, but the companies plan to launch another venture to continue to seek single-tenant, net-leased industrial properties. David Berglund and Tom Shepherd of Colliers International represented the seller, Industrial Realty Group LLC.
STUART, FLA. — Confluent Senior Living and Harbor Retirement Associates (HRA) have broken ground on HarborChase of Stuart, a 128,000-square-foot assisted living and memory care facility located at 786 N.W. Federal Highway in Stuart. HarborChase of Stuart will offer 96 assisted living and 38 memory care apartments available in one- and two-bedroom units. Confluent Senior Living, a subsidiary of the Denver-based real estate investment and development firm Confluent Development, serves as the project owner. HRA will manage HarborChase of Stuart. The project is anticipated to open in summer 2020. Confluent Senior Living and HRA previously co-developed and opened their first Florida seniors housing community in Wildwood in 2018.
PHOENIX — Graycor Construction Co. has completed the final phase of 10 West Logistics Center, a Class A industrial bulk distribution park in southwest Phoenix. Developed by New York Life Real Estate Investors, 10 West Logistics Center is a 1.3 million-square-foot, two-building distribution campus. Totaling 569,301 square feet, 10 West Logistics Center Phase II is the final building at the distribution park. Amazon has leased the entire building to use a fulfillment center. Graycor is managing all tenant improvement construction for Amazon. The first building, 10 West Logistics Center Phase I, features 660,000 square feet of Class A distribution space. Ozburn-Hessey Logistics occupies 43 percent of the first building. Located at the northwest corner of Van Buren Street and 59th Avenue, 10 West building amenities include 36-foot clear heights, dock-high and grade-level loading, 200-foot minimum truck courts, ESFR fire sprinklers, energy-efficient motion sensor lighting, a fenced and secured yard, and ample car and trailer parking. Additionally, the buildings are divisible down to 100,000 square feet, offering A-1 equivalent zoning and Foreign Trade Zone approved. Butler Design Group served as architect for the development. Wentworth Property Co. serves as the owner’s representation. Andy Markham, Mike Haenel, Will Strong and Phil Haenel …
VICTORVILLE, CALIF. — Stirling Capital Investments has completed a building expansion for Newell Brands at Southern California Logistics Airport (SCLA) in Victorville. This is Newell’s second expansion at the property since it original lease for 407,600 square feet in 2006, bringing the new building total size to 1 million square feet. With the new 466,255-square-foot expansion, the building now features 78 dock-high doors with 32-foot clear heights. Newell first expanded its footprint at SCLA in 2012 by adding 176,800 square feet to accommodate increased regional and national distribution of company products. Newell will occupy the new building through 2029.
SAN DIEGO — Dempsey Construction has completed the ground-up construction of an industrial building at Frontera Business Park, located at 2695 Customhouse Court in the Otay Mesa neighborhood of San Diego. The concrete tilt-up building totals 174,200 square feet of space. Three main storefront entries feature spandrel glass and pop-out elevations. Situated on 9.2 acres, the facility has 43 dock-high truck doors, a 36-foot clear height and six grade-level truck doors. The building is part of Frontera Business Park, a seven-building, 517,207-square-foot industrial campus.
LENEXA, KAN. — Colliers International has brokered the sale of a 26,800-square-foot industrial building in Lenexa for an undisclosed price. The property is located at 9641 Lackman Road. Tom Haverty of Colliers represented the seller, Compass Properties LLC. John Stafford of Colliers represented the buyer, RMS Real Estate LLC.
TEWKSBURY, MASS. — Defense contractor Raytheon has signed a 134,000-square-foot industrial lease at Center at Innovation Drive, a 706,000-square-foot facility located in the northern Boston suburb of Tewksbury. The lease term is seven years. Rubenstein Partners owns the property, which consists of four conjoined buildings and was recently renovated to deliver a new façade, entrances and common areas. Rubenstein’s renovation project also delivered a tenant amenity center complete with an amphitheater, fitness center, café and collaboration spaces. The property also enjoys proximity to I-495 and I-93.
HACKENSACK, N.J. — The Stro Companies (STRO), which specializes in industrial investment throughout Northern New Jersey, has acquired two industrial buildings totaling 83,000 square feet in Hackensack. One property is a 65,000-square-foot divisible building and the other is an 18,000-square-foot freestanding structure. The properties offer convenient access to I-80 and the New Jersey Turnpike. SB One Bank provided acquisition financing for the deal. Zach La Motta of STRO oversaw the acquisition in conjunction with Scott Perkins, Justin Allessio, and Andrew Somple of NAI James E. Hanson. The seller and sales price were not disclosed. With this transaction, STRO has now acquired 11 industrial properties within the last 18 months.
CORPUS CHRISTI, TEXAS — The Port of Corpus Christi, in partnership with the U.S. Army Corps of Engineers (USACE) and Illinois-based Great Lakes Dredge & Dock Co. LLC, has begun work on its $92 million Channel Improvement Project. Specifically, the project will deepen and widen the Corpus Christi Ship Channel from the Gulf of Mexico to Harbor Island. The project will also increase the depth from 47 feet to 54 feet from the jetties at the entrance of the ship channel to Harbor Island and will deepen the ship channel into the Gulf of Mexico to 56 feet. As one of the larger dredging companies in the United States, Great Lakes Dredge & Dock has worked on high-profile projects that include the Deepwater Horizon Oil Spill cleanup and the deepening of the Port Miami harbor. Situated on the western Gulf of Mexico with a 36-mile channel, Port Corpus Christi is the fourth-largest port in the United States in total tonnage and is the leading U.S. crude oil export port. Throughout 2018, the port shipped more than $10.8 billion worth of crude to U.S. trading partners.
HOUSTON — The Jenkins Organization, a locally based developer and manager of self-storage properties, has opened EaDo Storage, an 850-unit facility located at 1025 Sampson St. in downtown Houston. The Class A property spans 110,000 square feet and offers climate- and non-climate-controlled space. Additional features will include gated entry, electronic security monitoring throughout and space for a live-in, onsite manager.