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Renton-Logistics-Center-Renton-WA
AcquisitionsIndustrialWashingtonWestern

Clarion Partners Sells 459,349 SF Renton Logistics Center in Washington

by Amy Works

RENTON, WASH. — Clarion Partners has completed the disposition of Renton Logistics Center, a Class A industrial building located at 2501 E. Valley Road in Renton. An institutional buyer acquired the asset for an undisclosed price. Brett Hartzell and Paige Morgan of CBRE National Partners in the Pacific Northwest represented the seller in the deal. Built in 1996, the 459,349-square-foot, cross-dock facility features 30-foot clear heights, 75 dock-high doors, trailer parking, heavy power, recent upgrades to ESFR and energy-efficient lighting. At the time of sale, three tenants fully leased the property: Graybar, Swire Coca-Cola and Sealed Air.

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2717-S-Copper-Passage-Steamboat-Springs-CO
AcquisitionsColoradoIndustrialNet LeaseOfficeWestern

Blue West Capital Arranges $5M Sale of FedEx-Occupied Building in Steamboat Springs, Colorado

by Amy Works

STEAMBOAT SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant property located at 2717 S. Copper Passage in Steamboat Springs. A Colorado-based private investor sold the asset to a Denver-based buyer for $5 million in an all-cash transaction. FedEx has operated at the property since 2000 and recently signed a long-term, net-lease extension. Brandon Gayeski of Blue West Capital represented the seller in the deal.

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DevelopmentIndustrialTexas

Box Investment Group to Develop 156,090 SF Industrial Project in Denton

by Taylor Williams

DENTON, TEXAS — Dallas-based developer Box Investment Group will build M380 Business Park, a 156,090-square-foot industrial project in the North Texas city of Denton. The site is located at the corner of North Masch Branch Road and State Highway 380 and will house four freestanding buildings that can be marketed to users with a variety of square footage requirements. Construction is scheduled to begin early next year and to be complete in the first quarter of 2024.

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IndustrialLeasing ActivityTexas

Partners Negotiates 112,935 SF Industrial Lease in Schertz, Texas

by Taylor Williams

SCHERTZ, TEXAS — Partners, the Houston-based investment and brokerage firm formerly known as NAI Partners, has negotiated a 112,935-square-foot industrial lease at Doerr Lane Logistics Center in the northeastern San Antonio suburb of Schertz. John Colglazier, Kyle Kennan and Carlos Marquez of Partners represented the landlord, an entity doing business as Baltisse-Ackerman Schertz LLP, in the lease negotiations. Brad Hanagan of ATCAP Partners represented the tenant, MEI Rigging & Crating LLC. The property, which is under construction and slated for a February 2023 delivery, is now 75 percent preleased.

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50-Robert-Milligan-Parkway-Merrimack-New-Hampshire
DevelopmentIndustrialNew HampshireNortheast

Trammell Crow, Diamond Realty to Develop 323,750 SF Industrial Project in New Hampshire

by Taylor Williams

MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments will develop a 323,750-square-foot industrial project in Merrimack, located in the southern part of the Granite State. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter of 2023.

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DevelopmentMultifamilyNew JerseyNortheast

Prism Capital Begins Leasing 252-Unit Multifamily Project in Dunellen, New Jersey

by Taylor Williams

DUNELLEN, N.J. — Locally based developer Prism Capital Partners has begun leasing The Nell, a 252-unit multifamily project in the Central New Jersey community of Dunellen. Designed by Spiezle Architectural Group, the transit-oriented property offers one- and two-bedroom units and includes 3,700 square feet of retail space. The amenity package comprises a pool, fitness center, resident lounge, community kitchen, meeting rooms, an outdoor bar with TVs and grilling and dining areas. Rents start at $2,140 per month for a one-bedroom apartment.

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470-Park-Avenue-Manhattan
DevelopmentNew YorkNortheastOffice

SJP Properties, PGIM Complete $15M Renovation of Manhattan Office Building

by Taylor Williams

NEW YORK CITY — SJP Properties and PGIM Real Estate have completed a $15 million renovation project at 470 Park Avenue, a 300,000-square-foot office building in Manhattan. The multi-year project refreshed the building façade, replaced windows to increase natural lighting, delivered custom buildouts of select suites, upgraded infrastructure, improved sustainability systems and modernized the elevator system. Ownership also added a new tenant lounge and outdoor space for meetings, presentations and conferences and updated the building’s retail space.

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Leasing ActivityNew JerseyNortheastRetail

FunCity Adventure Park to Open 36,500 SF Venue in Millville, New Jersey

by Taylor Williams

MILLVILLE, N.J. — FunCity Adventure Park, an entertainment concept that features trampolines, laser tag, ropes courses, bumper cars and arcades, will open a 36,500-square-foot venue in the Southern New Jersey community of Millville. The center will be located within Union Lake Crossing, which is anchored by grocer ShopRite, Target and Kohl’s. According to New Jersey Stage, FunCity is backfilling a space formerly occupied by Dick’s Sporting Goods and is targeting a mid-2023 opening. Massachusetts-based advisory firm KeyPoint Partners represented FunCity in its site selection and lease negotiations.

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IndustrialLeasing ActivityMidwestOhio

Brooks Running Signs 598,754 SF Industrial Lease in Ashville, Ohio

by Kristin Harlow

ASHVILLE, OHIO — Brooks Running has signed a 598,754-square-foot industrial lease to occupy an entire building at 10302 Transport St. within the Rickenbacker Logistics Park in Ashville, about five miles south of Columbus. The Seattle-based company, known for its running shoes, will relocate from a nearby facility in the second quarter of next year. The property features a clear height of 40 feet, 18 docks, 60 drive-in doors and parking for 117 trailers. The facility can be expanded up to 1 million square feet. Jim Hazard and Brad Struck of Cresa along with Michael Cantor of Allegro represented the tenant. Dan Wendorf and Brian Marsh of JLL represented the landlord, CT Investors. Rickenbacker Logistics Park spans 382 acres and 5 million square feet.

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IndustrialLeasing ActivityMidwestMissouri

UPS Inks 210,600 SF Industrial Lease at Hunt Midwest Business Center in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — UPS Supply Chain Solutions has signed a 210,600-square-foot industrial lease at Hunt Midwest Business Center in Kansas City. An additional 268,000 square feet remain available for lease at the building, which features a clear height of 36 feet, 68 trailer parking spots and 245 car parking stalls. Owner Hunt Midwest plans to break ground on a fifth building at the industrial park in 2023. Additionally, infrastructure improvements will help facilitate the development of a new 135-acre phase of the industrial park that will accommodate buildings ranging in size from 300,000 to 1 million square feet. The improvements will also enable a new north entrance to SubTropolis, the world’s largest underground business complex. Austin Baier and Mike Mitchelson of CBRE represented Hunt Midwest in the lease with UPS.

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