Property Type

CapRock-West-202-Logitsics-Ph2-Phoenix-AZ

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics Phase II, the 820,000-square-foot final phase of a speculative industrial development on 43 acres in southwest Phoenix. Sitework began in January on Phase II with project completion slated for November. Upon completion, CapRock West 202 Logistics Phase II will feature a 301,771-square-foot Building F, 295,586-square-foot Building G and 227,107-square-foot Building H. The properties will offer clear heights ranging from 32 feet to 36 feet. Buildings F and G will feature 47 dock-high doors, and Building H will include 45 dock-high doors. All Phase II buildings will feature four drive-in ramp doors and speculative office suites, R-38 warehouse roofs, R-11 warehouse wall insulation, full-building HVAC, LED lighting in the warehouse, dock-high load levelers and ample parking. Payson MacWilliam and Don MacWilliam of Colliers are handling leasing efforts for CapRock West 202 Logistics. At total project completion, CapRock West 202 Logistics will consist of 3.4 million square feet of Class A industrial warehouse space on 183 acres. CapRock completed Phase I, which includes approximately 2.5 million square feet of Class A industrial warehouse space across five buildings on 140 acres, in July 2023.

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Parts-Town-Fulfillment-Center-Glendale-AZ

GLENDALE, ARIZ. — Phoenix-based Stevens-Leinweber Construction has completed the Global Fulfillment Center, within C|303 industrial park in Glendale, for Illinois-based Parts Town Unlimited. The new facility is Parts Town’s first location in the Southwest and its largest and most technologically advanced U.S. fulfillment center to date. Parts Town works in the high-tech distribution of original equipment manufacturer (OEM) foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products. Global Fulfillment Center spans 420,536 square feet, occupying all of Building B at C|303 Phase I, a 1.7 million-square-foot industrial development by Merit Partners. The Parts Town facility features a 30,000-square-foot robotic Autostore system, a 42,000-square-foot mezzanine system, expanded battery charging capabilities for 24 forklifts, an automated material handling conveyor system running throughout the warehouse and two trucker’s lounges with dedicated restrooms. C|303 Phase I was designed and constructed by SLC and Butler Design Group as a speculative three-building development. Each building features a clear height of 40 feet, 20 dock-high and drive-in ramp doors, up to 70-foot speed bats, 8-inch reinforced floors and secured and expansive parking for autos and trailers. Additionally, all buildings offer LED lighting, insulated systems to maximize heating and cooling efficiencies and are Foreign …

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1551-Professional-Lane-Longmont-CO.jpg

LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.

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ROSEMOUNT, MINN. — Kraus-Anderson has completed construction of a $58 million police and public works facility for the City of Rosemount in Minnesota. The 20-acre project is located at 14041 Biscayne Ave. Designed by BKV Group and Oertel Architects, the 172,200-square-foot development features three buildings, including a 160,101-square-foot police department and public works facility, a 7,400-square-foot cold storage building and a 4,800-square-foot salt storage building. The 48,718-square-foot police department features a squad garage for 35 vehicles, an office with a storm shelter, holding rooms and a six-lane gun range. The 111,383-square-foot public works facility includes a vehicle storage bay for 17 plow trucks and 57 vehicles, an office, wash bay and maintenance areas. Construction began in June 2023.

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SULPHUR SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of the 70-room Hampton Inn Sulphur Springs hotel, located about 90 miles northeast of Dallas. Built on 2.5 acres in 2010, the hotel features an outdoor pool, fitness and business centers, onsite retail space, a breakfast area and 600 square feet of meeting and event space. Skyler Cooper of Marcus & Millichap represented the seller, Cox Hospitality Group, in the transaction. Cooper also procured the buyer, a Texas-based private investor, in conjunction with Allan Miller and Chris Gomes of Marcus & Millichap. 

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AURORA, ILL. — Panattoni Development Co. has sold a 356,462-square-foot warehouse located at 2200 Sullivan Road in Aurora for $46.3 million. Developed in partnership with Mar-Gulf Management Inc. and MDI Capital LLC, the international real estate subsidiaries of Kuwait Financial Centre, the Class A project was completed in June 2023. Located on nearly 30 acres, the site offers direct access to I-88 via the Orchard Road interchange. The building is 73 percent leased to two tenants and features a clear height of 36 feet, 34 exterior docks, two drive-in doors and extensive trailer and auto parking. The project team included Harris Architects and Alston Construction.

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LENEXA, KAN. — Gantry has arranged a $32 million permanent loan to retire construction financing for Lenexa Logistics Centre North #5 in Lenexa, a suburb of Kansas City. The fully leased property on Mill Creek Road was completed in 2022 and totals 565,170 square feet. The multi-tenant building offers immediate access to I-35, I-435 and Highway 10. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. An insurance lender provided the 10-year loan, which features a fixed interest rate and introductory interest-only period transitioning to a 30-year amortization schedule.

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SPRINGFIELD, MO. — Marcus & Millichap has negotiated the $6.6 million sale of a gas station property net leased to Kum & Go in Springfield. There are 15 years remaining on the lease, and Kum & Go has operated at the location since 1991. In 2019, the original building was demolished and rebuilt with an expanded design. Timothy Nichols, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an Arkansas-based limited liability company, and procured the buyer, an Iowa-based limited liability company. The transaction closed in less than 45 days.

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FORT DODGE, IOWA — Cleeman Realty Group has brokered the $4.3 million sale of a 66,455-square-foot retail property net leased to Hy-Vee Supermarket in Fort Dodge, about 95 miles north of Des Moines. Hy-Vee has occupied the building at 115 S. 29th St. since 1997. Nearby national retailers include Walmart, Target, Marshalls, Hobby Lobby and Aldi. Jeremy Scheer and Michael Cleeman of Cleeman Realty Group represented the undisclosed buyer and seller. The seller sought to reallocate funds into a different asset class, according to Scheer.

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HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has purchased Windermere Village, a 31,355-square-foot retail property in northwest Houston. The center is home to tenants such as Tropical Smoothie Café, Pure Barre, The Joint Chiropractic, Marco’s Pizza and Edible Arrangements. In addition, 85°C Bakery Café and Flying Biscuit Café have will soon open eateries at Windermere Village. The seller and sales price were not disclosed.

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