The US industrial markets absorbed 53.8 million square feet of space in the first quarter of 2017, well above the quarterly absorption average of 49.3 million square feet during the current economic expansion and significantly higher than the average quarterly absorption of 40.6 million square feet registered during the last two economic growth cycles, according to Cushman & Wakefield's first quarter industrial market report. Much of the activity in the digest this week is in the industrial sector, reflecting the findings of the C&W report.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Michael Carter has joined Greysteel as a director within the Dallas retail investment sales division. Carter is charged with arranging sales and financing for multitenant and single tenant NNN net leased properties in the Dallas-Fort Worth region.

DALLAS—Jim Fant has joined Westmount as executive managing director–acquisitions. In this role, Fant will oversee the acquisition process at Westmount and manage the company's acquisition team.

HOUSTON—CBRE has promoted Buddy Urban to managing director, valuation and advisory services for the Houston office. He will work with Bruce Bailey and Eric Finely, who also serve as managing directors in Houston.

DEAL TRACKER

FORT WORTH—Ft. Worth & Crowley Partners Ltd. sold 51.278 acres along the Chisholm Trail Parkway in Fort Worth and Crowley, TX to SNM Realty Estate LP. Principal Lester Day with Transwestern represented the seller.

FORT WORTH—Xchange Leasing LLC signed a new 26,993-square-foot retail lease at 2301 S.E. Loop 820 with Cidema Three Limited Partnership. Principals Todd Hawpe and Jeff Givens with Transwestern represented the landlord.

HOUSTON—NAI Partners represented St. James Equity Partners LP in leasing 16,297 square feet of industrial warehouse space to Commercial Resources Installations located at 3215 McKinney. John Ferruzzo and Michael Keegan of NAI Partners represented the landlord, St. James Equity Partners LP.

HOUSTON—NAI Partners represented Steadfast Development LLC in the disposition of a 11,250-square-foot newly constructed building located at 13011 Misty Willow. John Ferruzzo and Travis Land of NAI Partners represented the seller, Steadfast Development Company LLC in the negotiations, while Brian Harbuck of Transaction Real Estate LLC represented the buyer, CAN Business Inc.

HOUSTON—Boxer Property, has concluded long-term renewal and expansion negotiations with MPG Pipeline Contractors LLC at 16770 Imperial Valley Dr. MPG Pipeline Contractors LLC has been a valued Boxer Property tenant since 2013 and the latest expansion brings MPG Pipeline's total size to 13,070 square feet.

HOUSTON—NAI Partners represented White Oak Industrial Park LP in the disposition of three industrial buildings. The Park is located on Fairbanks N Houston and Warren Road, just north of W. Little York and between Hwy 290 and Beltway 8, providing accessibility to freeways in Northwest Houston. Travis Land of NAI Partners represented White Oak Industrial LP in the dispositions, while Anna Wang, Stoa Realty represented the buyer, Kun Liang, in purchasing a 12,500-square-foot dock-high building, Jon Lindenberger and Barrett Gibson of Colliers International represented the buyer, Values Unlimited in purchasing a 24,700-square-foot dock-high building and Glynn Mireles of CBRE represented the tenant, Lamons Gasket Company, in the leasing a 18,000-square-foot dock-high building.

KERRVILLE, TX—Marcus & Millichap facilitated the sale of A-B-C Self Storage, a 40,860-square-foot self-storage. Jon Danklefs, a senior associate investment specialist in Marcus & Millichap's San Antonio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Butch Lagred, associate and Chad J. Knibbe, first vice president investments, both retail investment specialists in Marcus & Millichap's San Antonio office.

NEDERLAND, TX—NAI Partners represented Code Red Safety in leasing a 9,000-square-foot industrial facility located 2619 Highway 69. Chris Caudill of NAI Partners, Wade Carter of Commercial Broker Group and Lee Wheeler of Wheeler Properties represented the tenant, Code Red Safety in the lease negotiation, while Tammiey Linscomb of Coldwell Banker Commercial represented the landlord, Jim Laughlin.

NEWS AND NOTABLES

DEAL TRACKER

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