SHELBYVILLE, KY. — Shelbyville Battery Manufacturing, a subsidiary of e-Storage, has announced plans to develop a $712 million project in Kentucky, establishing a 6-gigawatt hour battery cell, module and packaging manufacturing facility. Based in Canada, e-Storage is a subsidiary of Canadian Solar — a battery energy storage systems design, manufacturing and integration company. Upon completion, the development will comprise a 1 million-square-foot building located on Logistics Drive in Shelbyville, roughly 35 miles east of Louisville. Shelbyville Battery Manufacturing will produce self-contained energy storage systems at the facility that will be packaged into modular, containerized utility-scale batteries. “The new plant will allow us to provide our U.S. customers with cutting-edge, American-made battery energy storage products,” says Colin Parkin, president of e-Storage. According to a press release issued by the office of Kentucky Gov. Andy Beshear, the project will create 1,572 permanent jobs and marks the third-largest project for job creation during Beshear’s administration, which began in 2019. In August, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with Shelbyville Battery Manufacturing to provide up to $35 million in tax incentives. The authority also approved the manufacturer for up to $5 million in tax incentives through the …
Property Type
MIDLOTHIAN, TEXAS — Dallas-based developer KDC has delivered a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility features a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction served as the general contractor. Construction began in December 2023.
LOCKHART, TEXAS — Austin-based Evergen Equity has purchased a 284,000-square-foot industrial property in Lockhart, a southern suburb of Austin. The sale includes nine acres of undeveloped land. While under contract, Evergen negotiated a 49,000-square-foot lease with Hill Country Foodworks for its new headquarters and main distribution facility. Stream Realty Partners will market the remainder of the space/land for lease/sale. The seller and sales price were not disclosed.
HOUSTON — Hilco Real Estate has arranged the $27 million bankruptcy sale of a 285,000-square-foot office building in Houston’s Galleria district. The 11-story building is known as TwentyFour25 Galleria and was originally built in 1980 and renovated in 2015, according to LoopNet Inc. Local bankruptcy law firm Jones Murray LLP, the trustee of the property, engaged Hilco to manage the sale process, which was conducted via virtual auction. The buyer was not disclosed.
HOUSTON — Locally based investment and brokerage firm Finial Group has acquired a 30,326-square-foot industrial building in southeast Houston. According to LoopNet Inc., the single-tenant property at 6666 Gulf Freeway was built on 1.3 acres in 1965 and features 18-foot clear heights, three dock-high loading doors and two grade-level drive-in doors. Christian Villarreal and Chase Tucker handled the acquisition for Finial Group on an internal basis. The seller and sales price were not disclosed.
FRISCO, TEXAS — Wintrust Commercial Finance, a Texas-based division of Wintrust Asset Finance, has signed a 19,000-square-foot office lease renewal at HALL Park in Frisco. Tyler Thomas of Trumont Commercial represented the tenant, which first committed to HALL Park in 2015, in the lease negotiations. HALL Group owns the property, which is currently in the midst of a $7 billion redevelopment.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $31.5 million sale of a 127-unit affordable housing building in Harlem. The building at 34 W. 139th St. was originally constructed in 2007. Victor Sozio, Shimon Shkury, Remi Mandell and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. Information on floor plans and income restrictions, as well as the buyer, was also not disclosed.
PHILADELPHIA — Veho has signed a 148,611-square-foot industrial lease in northeast Philadelphia. The third-party logistics firm will occupy the entirety of Building 1 at Bridge Point Philadelphia, a two-building, 890,312-square-foot development that was completed recently. Larry Maister and Kyle Lockard of JLL represented the landlord, Bridge Industrial, in the lease negotiations. Barrett Stephan and Brian Hilger of KBC Advisors represented Veho.
PARSIPPANY, N.J. — A division of Altman, a South Florida-based investment firm formerly known as BBX Capital, will develop Apex Logistics at Parsippany, a 140,000-square-foot industrial project in Northern New Jersey. The 10.5-acre site is located about 30 miles from multiple air and seaports and currently houses an office building. Altman is developing the project in partnership with Renard Investments and DHS Real Estate Investment Management. Truist Bank has provided $22 million in construction financing for the project. Construction is expected to begin early next year and to last about a year.
NEW YORK CITY — New York-based developer Baron Property Group has completed The Park Overture, a 92-unit multifamily project in Manhattan’s Washington Heights neighborhood. The property offers one- and two-bedroom units that include individual washers and dryers and amenities such as a fitness center, courtyard, dog run and indoor bike storage space. Rents start at $2,950 per month for a one-bedroom apartment. Baron delivered the property 35 percent preleased.