PLANO, TEXAS — Auto manufacturer Toyota will relocate its North American headquarters to a new campus in Plano. The new facility is estimated to total 1 million to 1.5 million square feet in the Legacy business park near the interchange of the Dallas North Tollway and State Highway 121. Several Toyota facilities nationwide — including the Toyota Motor Sales USA Inc. operation in Torrance, Calif., and the Toyota Engineering & Manufacturing North America Inc. in Erlanger, Ky. — will be consolidated at the new complex. A total of approximately 4,000 employees will be relocated, including those at Torrance-based Toyota Financial Services and certain employees at Toyota Motor North America in New York City, by the time the new campus is completed in late 2016 or early 2017. An expansion of the York Township, Mich.-based Toyota Technical Center and opening of the new Toyota Motor Manufacturing Kentucky in Georgetown, Ky., are also part of the transition. Paul Whitman, Brad Selner, Meredith O’Connor and Michael Sessa of JLL represented Toyota in the McKinney transaction.
Property Type
HOUSTON — First Industrial Realty Trust Inc. has broken ground on the new 350,820-square-foot First Northwest Commerce Center in Houston’s Northwest submarket. The distribution facility, to be located on a 24-acre site off Beltway 8 at 4800 W. Greens Road, will be designed for either single- or multi-tenant use. The building will feature 32-foot clear heights, 130-foot truck courts, excess trailer storage and ESFR sprinklers. Construction is slated for completion as early as the fourth quarter of this year. The development team includes development consultant Davis Commercial Development LLC, general contractor Cadence McShane and architect Munson Kennedy Partnership. Billy Gold and David Adame of CBRE will lease the property.
ROUND ROCK, TEXAS — HFF has brokered the sale of a three-building, 275,499-square-foot industrial portfolio in the Austin suburb of Round Rock. The properties include 110, 116 and 120 E. Old Settlers Blvd., all located off I-35. Thermo Fisher Scientific, Total Site Solutions and Toshiba each fully occupy one of the facilities. HFF marketed the portfolio on behalf of the seller, a Boston-based institutional investor. Stoltz Cos., an owner/operator real estate investment company, purchased the assets free and clear of existing debt.
McKINNEY, TEXAS — Hisun Motors Corp., a China-based manufacturer of utility-terrain and all-terrain vehicles, will open its North American headquarters at a 163,502-square-foot facility in the Dallas/Fort Worth suburb of McKinney. The property, located at 310 E. University Drive, previously served as the regional headquarters of Emerson Process Management Regulator Technologies. McKinney Economic Development Corp. acquired the site in 2013 when Emerson opened its global corporate headquarters elsewhere in McKinney. Hisun, which is expected to bring 80 new jobs to McKinney, worked with the McKinney Economic Development Corp. for more than one year in finding a location.
TUCSON, ARIZ. – A 143,650-square-foot office building in Tucson has sold to W. P. Carey Inc. for $19 million. The firm purchased the Class A building on behalf of CPA:17 – Global, one of its managed REITs. It is located at 3350 E. Hemisphere Loop at the Tucson International Business Center. The building is leased to a single unnamed tenant. Neil Glassmoyer, Tivon Moffitt and Peter Bauman of Colliers International in Greater Phoenix represented both the buyer and the seller, Summit Properties, in this transaction.
SAN MATEO, CALIF. – The 45-unit Mariner’s West apartments in San Mateo has sold to a private family LLC in a 1031 exchange for $16.4 million. The community is located at 730 Mariner’s Island Blvd. and 735 Fathom Drive. It was built in 1979. Major employers in the area include Oracle, Visa, Sony Computer Entertainment, Life Technologies, Gilead Sciences and Electronic Arts. Adam Levin and Eric Katz of Marcus & Millichap’s Palo Alto office represented both the buyer and the seller, a private equity firm, in this transaction.
POMONA, CALIF. – A 134,500-square-foot industrial facility in Pomona that is fully occupied by Hamilton Sundstrand has sold to a private investor from Orange County for $16 million. The facility is located at 2771 N. Garey Ave. The aerospace and defense contractor has owned and occupied the building since it was constructed in 1962. Hamilton Sundstrand is now a part of UTC Aerospace Systems, a division of United Technologies Corporation. The buyer was represented by Clyde Stauff of Colliers and Mike Hartel and Mike Bouma of Voit. A joint venture between Lincoln Property Company and Morgan Stanley Real Estate Fund was also represented by Colliers.
SAN DIEGO – A 36,936-square-foot industrial building in the Lusk Business Park in San Diego has sold to Western State Technologies for $6.3 million. The building is located at 10540 Heater Court. The seller, Moxie Partners LLC, was represented by Bryce and Brant Aberg of Cassidy Turley San Diego.
PHOENIX — Yeager North has leased 4,000 square feet of office space at The Offices On High Street in Phoenix. The integrated marketing firm is relocating from the nearby Scottsdale Quarter. It will occupy its new space this July. Yeager North was represented by Keith Lammersen and Trevor Pratt of Jones Lang LaSalle. The landlord is a joint venture between ScanlanKemperBard Companies and Wayzata Investment Partners.
RICHMOND, VA. — Wegman’s has revealed plans to enter the Richmond market with two new locations. The grocer plans to construct a store within West Broad Marketplace, a 350,000-square-foot lifestyle shopping center that is scheduled to open in spring 2016. NV Retail is the developer of the shopping center, which will feature Wegman’s and Cabela’s as co-anchors. Wegman’s is also opening a new store in Stonehenge Village Shopping Center, a planned 230,000-square-foot retail center that Marchetti Properties is developing. Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer handled the lease transactions on behalf of NV Retail and Marchetti Properties. Nielsen and associate Mark Douglas will handle leasing responsibilities for West Broad Marketplace. Nielsen will also lease Stonehenge Village along with associate Nicki Jassy.