MDH Partners recently acquired a one-million-square-foot Dallas industrial property. The Dallas Business Journal reports that the company used a $258 million loan to purchase portions of the site.

The Commerce 20 industrial park at 4601 and 4951 Langdon Road sits on just over 100 acres. It was developed by Hillwood and houses tenants such as Olam Cotton, Fischer Scientific and Genco.

Hillwood and CBRE have been handling leasing on the property.

Commerce 20 is just one of around 30 buildings that MDH purchased last year. The firm said it acquired more than 9 million square feet across 11 markets including Austin, South Carolina and Orlando. The properties had an average occupancy rate of 99% and average lease term of more than five years.

MDH Partners was founded in 2005.

Colliers closed a $76.725-million acquisition loan on behalf of Four Springs TEN31 Xchange to acquire a 1.1-million-square-foot industrial building fully leased to Ford Motor Company on a long-term basis. EVP Jeremy Thornton, SVPs Nicole Sayers and Andrew Gibson and VP Lauren Smyle sourced the financing. FSXchange has successfully syndicated more than $840 million of net-leased real estate through DST offerings.

Located at 14741 Laplaisance Rd., adjacent to the Interstate 75 corridor in Monroe, MI, the property was developed as a build-to-suit warehouse and logistics facility for Ford. “This acquisition represents a key milestone for Four Springs, reinforcing our commitment to expanding a diversified portfolio of net-lease properties anchored by strong, creditworthy tenants,” said CEO Coby Johnson.

Thornton added, “The completion of this loan is a green shoot in the market. We expect to see additional positive activity as the year progresses.”

Friedman Real Estate has been selected to partner with Wayne County’s Facilities Management and Planning division to manage the county’s new 1.2 million square foot Criminal Justice Center (CJC).

The property is comprised of an adult detention center with 2,280 beds, a juvenile detention center with 160 beds, 29 criminal courtrooms, and administrative offices. Approximately 1,300 county employees will work at the CJC, with roughly 1,000 visitors expected at the property each day. Friedman was chosen for the assignment due to the firm’s experience managing large campuses and office buildings, particularly those with government and judicial tenants.

Friedman’s Kim Farmer will oversee the management operation at CJC, and she has long-standing relationships with many Detroit-area service vendors. “As the CJC prepares for its imminent opening, Friedman is committed to delivering exceptional property management services, fostering collaboration with all stakeholders, and ensuring the facility’s long-term success,” said David Friedman.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.

Developer KDC has announced a partnership with the Research Triangle Foundation of North Carolina to build one million square feet of office space in North Carolina’s Research Triangle Park.

The new office space will be located on 100 acres of land bound by 1-40 at Davis Drive, I-40 at Highway 54 and the Durham Freeway. As part of the new multi-use urban district, called Hub RTP, KDC will develop buildings totaling up to one million square feet, and up to 300 feet in height, which will be the first high-rise buildings within the Park.

Founded in 1959 in the center of three research universities, Research Triangle Park is the country’s largest innovation center, with global companies such as IBM, Cisco, Credit Suisse, BASF, GlaxoSmithKline, Lenovo and RTI International among its more than 300 tenants.

“This is the long-anticipated opportunity to retool RTP. With the support of Durham County, the companies in RTP and private partners including KDC, we can do this in 2020,” said Scott Levitan CEO of the Research Triangle Foundation.

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