Matthews Real Estate Investment Services completed the sale of an industrial outdoor storage (IOS) property at 15221 Market St. in Channelview, Texas.

Matthews associate Murphy Sloan and senior associate Andrew Wiesemann represented the seller in the transaction.

Alpha & Omega Equipment sold the property through a sale-leaseback. The industrial site featured 56,248 square feet on a 4.81-acre lot. Matthews agents secured a 30-day due diligence, a five-day close and a closing price within 5% of asking.

The property was acquired by Triten, a national IOS investment fund. The company plans to hold the investment after a seven-year lease with two five-year options to follow was negotiated with the seller.

Texas’ industrial sector is experiencing a sustained boom, with major cities like Dallas, Austin and Houston all witnessing significant growth. The Lone Star State’s individual markets paint a picture of vibrancy, innovation and expansion.
Dallas industrial sector is ‘incredibly blessed’ “I know it sounds like a cliché we hear over and over, but the DFW area is so much healthier and has so much more activity than almost every market in the country,” said Allen Gump, executive vice president at Colliers DallasFort Worth. “We are all incredibly blessed to be in a market that is this vibrant with the best real estate community of any in the world.” He attributed the vibrant market to a robust developer community, strong investor interest and record leasing activity.
“For the last several years there has been a great deal of money looking for great places to invest,” Gump said. “And since we were having record leasing and net absorption, that led to more projects coming to fruition. Depending on the submarket you’re looking at, developers are being more prudent and rather than building spec, they’re waiting for the tenants. So this will slow down the amount of speculative building for the time being.”
When selecting locations and project types, factors like competition, leasing trends, labor pools and highway access are crucial, Gump stressed. Project size alignment with market demand and profitability against construction costs are also vital considerations. “It’s important to know that if you’re going to build a 1 million square foot building, how many others are built or under construction vs. 1 million square foot deals in the market?” Gump said. “Sometimes it’s better to be ‘pad-ready’ and wait for the tenant to surface.”
The Texas CHIPS Act, which incentivizes semiconductor development, is impacting the Dallas market. The legislation not only stimulates chip production but also drives demand for ancillary industrial facilities from suppliers, further amplifying activity. “It truly has a multiplying effect on industrial demand even if these plants are being built by the companies that are going to occupy,” Gump said.
While he anticipated a natural slowdown in demand after years of rapid growth, Gump saw this as a temporary adjustment.

The Society of Industrial and Office Realtors has released its list of top transactions completed by its members. Jim Kerrigan, Managing Principal of North American Data Centers in Chicago, was recognized as the number-one industrial and industrial investment transaction for a $278 million portfolio transaction in Northern Virginia.

In 2023, Kerrigan completed a portfolio of five complicated single-tenant net-lease transactions in power-based buildings that involved a Fortune 50 firm. The building sizes averaged more than 200,000 square feet and totaled 1.1 million square feet of building area in power base shells.

Kerrigan has focused exclusively on helping companies solve their data center challenges for more than 25 years. He provides a comprehensive suite of services that encompass his clients’ operational and financial needs with the goal of improving the overall economics of each transaction.

Over the past five years, Kerrigan has represented buyers and sellers in transactions totaling more than 4 million square feet of data center space and sales of more than $1.2 BN NNN single tenant properties. His position as a specialist and trusted advisor within the cloud-based, data center space is further demonstrated by being recognized by SIOR as completing the largest dollar volume transaction in the Industrial and investment sectors in 2016 and 2019. In 2022 he was the runner up in both those categories. He believes that success is unprecedented.

JLL Capital Markets has closed the sale of Jones & Rio, a 191-unit, 2017-vintage, trophy multifamily asset on the River Walk in San Antonio, Texas.

JLL worked on behalf of the seller, Benefit Street Partners.

Situated at 111 W. Jones Ave., Jones & Rio is perfectly located at the heart of the vibrant and growing River North mixed-use district in downtown San Antonio. Conveniently positioned near the Pearl, a 23-acre mixed-use project, and just one block off the thriving Broadway corridor, the property boasts direct River Walk access, countless walkable urban amenities and proximity to prominent employers. In addition, Jones & Rio is one of only five Class A multi-housing assets in the Downtown submarket with river frontage.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Robert Arzola and Ryan McBride and Senior Managing Director Robert Wooten.

MDH Partners recently closed on its acquisition of Loop 375 Industrial, a three-building, 554,960-square-foot, Class-A industrial portfolio in El Paso, Texas.

MDH entered a forward agreement to acquire the development in February 2023. Georga Rowe served as the acquisition lead for MDH Partners and Bret Felberg and Jeff Morris with Colliers represented the seller. 

During construction, two leases have been signed at the project. Building 1, consisting of 107,943 square feet is fully leased. A second lease for 200,100 square feet of Building 3 was recently signed. Christian Perez Giese and Andre Roacha with CBRE are leasing the project.  

Loop 375 Industrial is situated on 36.68 acres of land and located at the northeast corner of Amesbury Avenue and Joe Battle Boulevard in El Paso. The buildings have premier frontage, visibility and access to Loop 375 leading to the Zaragoza Port of Entry. The property features 191 trailer parks, 230 car parking spaces and clear heights of 32-36 feet.

Loop 375 Industrial consists of Building One and Two, which are each 107,943-square-foot rear-load warehouses, and Building Three, an approximately 339,074-square-foot cross-dock warehouse. The development project is located along US Highway 375 – approximately three miles north of I-10, only 14 miles east of the El Paso International Airport and 7.5 miles away from the Ysleta-Zaragoza Bridge, an international port of entry connecting El Paso and Ciudad Juarez, Chihuahua, Mexico. All three buildings were developed on a speculative basis. 

The revenue generated by the global self-storage market has long been on the rise. But one new study is predicting higher revenues than even the most optimistic brokers would predict. This new research predicts that the self-storage niche will boast an estimated value of a surprising $83.67 billion by 2031.

That would represent a compound annual growth rate of 5.4% from 2024 to 2031, according to a May 15 report from Coherent Market Insights.

Coherent Market Insights reported that the global self-storage market continues to see high growth thanks in part to the development of mini storage spaces. Mini storage units usually range from 25 to 1,000 square feet. Customers use them to store items such as excess luggage, seasonal equipment, vehicles or bicycles.

As new supply enters the market, consumers continue to fill these self-storage units. Coherent reported that in 2024, the global self-storage industry genreated $57.76 billion in market revenue. That would be dwarved, though, if the value of this industry does reach the $83.67 billion figure predicted by Coherent.

Another factor fueling growth in the self-storage market is the enhanced development of climate-controlled storage units, Coherent said.

Climate-controlled units, which help to protect items from humidity, excess heat or cold, are in high demand for customers looking to store delicate items such as documents, photos, electronics and other goods susceptible to climate variations.

Busy lifestyles and small living areas have also increased the need for secure and accessible storage services, something that is fueling the construction of climate-controlled self-storage units across the globe.

With increasingly small household sizes and limited storage solutions at home, the demand for portable and furniture-storage units is also rising. These units provide flexible and movable storage options for daily-use items, furniture, seasonal goods and other belongings. Leading self-storage service providers are focusing on developing portable storage containers, cabinets and mobile shelving units to cater to the changing needs of customers, Coherent reported.

Demographic changes are powering the growth of the self-storage market, too. Millennials are switching jobs and homes more frequently than did previous generations. They also value flexibility and experiences over possessions. As a result, more millennials are opting for self-storage units to store their unused goods and avoid the burden of maintaining excess inventory, Coherent reported.

Coheren’s report also pointed to the many small and medium-sized businesses that are using self-storage for archiving records, storing inventory and housing equipment. Because office space is costly, these businesses are using storage units to free up their office space and reduce rental costs.

Some businesses also use storage for temporary storage of assets when they are shifting office locations. The increasing use of storage by businesses for flexible space and recordkeeping is opening new avenues of growth for self-storage providers.

Coherent reported that the North America region is expected to hold a dominant position in the self-storage niche, with the United States alone accounting for more than 70% of the regional market. Key growth drivers include space constraints in urban regions, higher disposable income and busy lifestyles, according to Coherent.