WEST VALLEY CITY, UTAH — The LeClaire Group of Marcus & Millichap has arranged the purchased of All American Storage in West Valley City. A regional real estate investor acquired the 8,800-square-foot self-storage facility for an undisclosed price. Built in 1997, the property features 45 drive-up, non-climate-controlled self-storage units and an on-site apartment. Units range in size from 100 square feet to 400 square feet, with the ability to reconfigure unit sizes to accommodate larger spaces. Additionally, the fully fenced and gated property features keypad access and 24-hour surveillance. Jordan Farrer of The LeClaire Group of Marcus & Millichap represented the buyer in the deal. The name of the seller was not released.
EL PASO, TEXAS — Amazon will open a 625,000-square-foot fulfillment center in El Paso, a move that marks the e-commerce giant’s entrance to that market and that is expected to create about 700 new full-time jobs. Local news station and ABC affiliate KVIA reports that the site will be located along Rojas Drive and Interstate 10 on the city’s east side. Construction is underway, and the facility is expected to open some time in 2021. KVIA also reports that Amazon did not seek any tax breaks or other economic incentives from the City of El Paso.
DALLAS — The Dallas-Fort Worth (DFW) office market recorded approximately 640,000 square feet of negative net absorption during the second quarter, according to a new report from CBRE. This first and second quarters of this year mark the first times the market has recorded such as statistic since the first quarter of 2018. The combination of companies laying off workers, vacating subleased space and delaying move-ins amid COVID-19 brought the market’s vacancy rate to 21.8 percent. The report noted that the metroplex lost about 227,000 jobs during the 12-month period ending May 31, 2020, after previously posting one of the healthiest unemployment rates in the country. In addition, there is nearly 5 million square feet of office product under construction in DFW, suggesting that vacancy may continue to trickle upward during ensuing quarters as the state battles new surges of COVID-19 cases.
MANSFIELD, TEXAS — Locally based firm Realty Capital Management has partnered with South Florida-based PointOne Holdings to develop Phase II of Main Street Lofts, a project in the Fort Worth suburb of Mansfield that will add 266 apartments to the local supply. Phase II will be developed on an eight-acre site and will include amenities such as a pool, fitness center, multiple lounges, resident clubhouse and access to walking and biking trails. JHP Architecture is designing the project, and NRP Construction is the general contractor. First United Bank provided construction financing. Completion is scheduled for the first quarter of 2022.
HUMBLE, TEXAS — Kalera, a Florida-based vertical farming company, has signed an 83,436-square-foot industrial lease to be the first tenant at Parc Air 59, a 279,500-square-foot development in the northern Houston suburb of Humble by Jackson-Shaw. The company will occupy the entirety of Building A, a rear-load property that is nearing completion and that features 28- to 32-foot clear heights, 130-foot truck courts and an ESFR sprinkler system. Mike Spears and Derek Riggleman of Lee & Associates represented Kalera in the lease negotiations. Jason Dillee and Nathan Wynne of Cushman & Wakefield represented Jackson-Shaw.
DALLAS — McCarthy Building Cos. has topped out construction of the Noble Performing Arts Center at Parish Episcopal School’s Midway campus in Dallas. The building, which is part of a 55,000-square-foot expansion project at the private school, will house a 515-seat performance hall, a 120-seat black box theater, rehearsal rooms, a film screening room and a dance studio. McCarthy broke ground on the project in November 2019 and expects to complete the project by spring 2021.
TWINSBURG, OHIO — Cornerstone Business Park in Twinsburg, a southern suburb of Cleveland, is now fully leased. Lowe’s will lease 180,000 square feet within the park’s most recently delivered asset, a 276,000-square-foot speculative building at 8601 Independence Parkway. Lowe’s will use the space as a distribution center. Terry Coyne of Newmark Knight Frank represented the owners and developers, Scannell Properties and DiGeronimo Cos. JLL represented Lowe’s. Cornerstone Business Park is located on the site of the former 1.8 million-square-foot Chrysler stamping plant. Scannell plans to add a final 279,000-square-foot speculative building at the park. Other tenants at Cornerstone include FedEx, Amazon, O’Reilly’s Auto Parts and Bridgestone.
CINCINNATI — Lightstone has acquired Harrison Distribution Center in Cincinnati for $25 million. The 580,000-square-foot distribution facility is leased to a distributor of food service supplies and merchandise. It features a clear height of 32 feet, 40 dock doors, ample parking and immediate highway access. Peter Rotchford of JLL arranged acquisition financing on behalf of Lightstone. Patrick Gallagher of CBRE represented the undisclosed seller. Lightstone owns more than 5 million square feet of industrial and retail properties nationwide.
LINCOLN, NEB. — McCarthy Building Cos. Inc. has broken ground on a six-story boutique hotel at Lincoln’s Nebraska Innovation Campus, an expansive research community designed to facilitate partnerships between the University of Nebraska-Lincoln and private-sector businesses. Developed by Goldenrod Cos., the $23 million project will be a Marriott Tribute hotel with 154 rooms. Marriott Tribute hotels are independent, boutique properties that embrace the character and personality of their surroundings. In this case, the design aesthetic will celebrate the state of Nebraska, the university and its fans. A 10,000-square-foot portion of the hotel’s first level will be designated as educational and amenity spaces for the University of Nebraska’s hospitality, tourism and restaurant management students. Other amenities will include a full-service restaurant, rooftop bar, coffee shop, fitness center and a private dining area on the top floor known as the Founders Room. DLR Group designed the hotel. Completion is slated for fall 2021.
SHOREWOOD, ILL. — Kenco Logistics Services has leased 381,874 square feet of industrial space at Heartland Corporate Center in Shorewood, about 10 miles west of Joliet. Heartland Corporate Center is a 757,880-square-foot warehouse located at 21530 SW Frontage Road. Chattanooga, Tenn.-based Kenco, a privately held third-party logistics firm, expects to take occupancy in December once interior improvements are completed. David Bercu and Matthew Stauber of Colliers International represented ownership, HSA Commercial Real Estate and Clarion Partners LLC. Sean Henrick of Cushman & Wakefield represented Kenco. Now fully leased, Heartland Corporate Center features a clear height of 36 feet, 108 truck docks and 240 car parking spaces. The other tenant is DSC Logistics.