Alliance Industrial Company purchased 66.75 acres of land near the Northeast Georgia Inland Port in Gainesville, Georgia. The company will develop two speculative industrial buildings totaling 540,408 square feet. Building 100 will be 113,536 square feet and Building 200 will be 426,872 square feet. The park will be named Alliance 985 Business Park.

Avison Young’s Chris Hoag, Jason Holland, and Andrew Joyner arranged the transaction on behalf of Alliance and have been tapped to handle leasing. Stephen Lovett and Zach Tibbs of Norton Commercial represented one of the four parcels of land.

Alliance will break ground on the project in Q1 2025 and is slated to deliver in early 2026. With immediate access to I-985 and within 15 miles of I-85, the park offers excellent connectivity to local, regional, and national distribution channels. Tenants will benefit from proximity to key logistics hubs such as UPS and FedEx.

Investment firm Stonepeak acquired nine logistics properties totaling 1.8 million square feet near the Port of Jacksonville. JLL served as Stonepeak’s financial advisor. The port has been the site of several recent transactions. In August, Redfearn Capital acquired a 363,000-square-foot warehouse, Gran Bay Parkway, at 12751 Grand Bay Parkway in Jacksonville from Brookfield for $27 million.

Redfearn shared that the port is investing more than $1 billion over the next five years to improve access and utilization of this critical transport infrastructure, which lifts 1.3 million 20-foot equivalent units (TEUs) annually. CSX, Norfolk Southern and the Florida East Coast Railway are key railroad infrastructure support systems for the port’s traffic.

Stonepeak, meanwhile, acquired two logistics assets totaling 1.1 million square feet in Fort Worth, from institutional investors advised by J.P. Morgan Asset Management. The company used a $57 million loan from PGIM Real Estate for the acquisition.

Lincoln Property Co. (LPC) has opened Port of Vancouver USA Terminal 1, an office and retail development in southern Washington.

The two-building complex is located in the city’s waterfront district and features 366,000 square feet of Class A office space, 12,000 square feet of ground-floor retail space and commercial amenities. The office component of the project will house the new global headquarters for ZoomInfo, an artificial intelligence platform provider based in Vancouver.

The complex is adjacent to The Waterfront, a 32-acre master-planned community with several apartment buildings, office space, restaurants, shops and a $35 million riverfront park. When completed, the development will include an estimated 3,300 luxury apartments, boutique hotels and other amenities, and will generate over 4,000 permanent jobs.

The Port of Vancouver USA Terminal 1 development is situated within an Opportunity Zone. Project partners included Bridge Investment Group, Robertson & Olson Construction Inc. and architectural firms West of West and DLR Group.

U.S. Secretary of Transportation Pete Buttigieg and officials from across the nation attended a groundbreaking ceremony for the Pier B On-Dock Rail Support Facility, a $1.567-billion project that will double the footprint of the Port of Long Beach’s existing rail yard from 82 acres to 171 acres. 

Pier B will be built in phases, with construction scheduled for completion by 2032. The project will more than triple the Port’s capacity for on-dock rail to 4.7 million twenty-foot equivalent units per year, reducing emissions and stress on the local and regional road network, according to the Port.

“The Pier B On-Dock Rail Support Facility will add 130,000 feet of new tracks, build 36 new support tracks and more than double the number of trains leaving the Port to 17 per day,” said Port of Long Beach CEO Mario Cordero. “These improvements will benefit the entire U.S. supply chain and get us closer to the operational and environmental transformation into a zero-emissions port.”

The Port of San Diego’s planning for the “future of the Port,” formally known as the Port Master Plan Update (PMPU), has reached a major milestone with the Board of Port Commissioners’ unanimous certification of the Final Program Environmental Impact Report and approval of the PMPU. Next, Port staff will process the PMPU document with the California Coastal Commission with the goal of certification late this year.

“We are excited to enter the final phase of this important plan that reflects our collective vision – of our communities, stakeholders, and the Port – for the future of San Diego Bay and the surrounding waterfront,” said chairman Frank Urtasun of the Board of Port Commissioners. “After 11 years of community engagement including numerous public meetings and exchanges with the public, the PMPU will help us continue to deliver on promises made to voters when the Port was established in 1962.”

The Port Master Plan is a water- and land-use plan that designates specific areas of San Diego Bay and the surrounding waterfront for a variety of uses including maritime, fishing, visitor-serving commercial, recreational, environmental conservation and protection and navigation. The plan determines where port activities should take place, where recreational amenities should be located, and where commercial uses including hotels, restaurants and visitor-serving retail may be built.