COLUMBIA, S.C. — Miller-Valentine Construction has broken ground on Midway Logistics III, a 200,000-square-foot speculative industrial building located in Columbia’s 350-acre Lexington County Industrial Park. Magnus Development Partners is developing the project. The building, designed for distribution and light manufacturing tenants, will feature 30-foot clear heights, LED lighting, an ESFR sprinkler system, 21 dock doors, two drive-ins and entries for tenant offices. In addition, the..
MALVERN, PA. — Avison Young has arranged the sale of an industrial property, located at 17 Lee Blvd. in Malvern, a suburb of Philadelphia. A private buyer acquired the building for $6.6 million. At the time of sale, the 58,594-square-foot flex building was fully leased by two tenants. Adam Gillespie and James Pasquarella of Avison Young brokered the transaction.
OKLAHOMA CITY — CBRE has negotiated a 10,800-square-foot lease at 1845 W. Reno Ave. in Oklahoma City. Randy Lacey and Austin Lacey of CBRE represented the landlord, John R. Colbert Real Estate Holdings LLC. Irmon Gray of NAI Sullivan Group represented the tenant, Giant Oil Tools Ltd.
NORTH LAS VEGAS — Panattoni Development Co. has purchased a 10.4-acre parcel in North Las Vegas where it plans to build Centennial Corporate Park, a 204,000-square-foot industrial warehouse facility. The land purchase price was not disclosed, but the development is valued at $16 million, according to Panattoni. Centennial Corporate Park will feature cross-dock ware space with 32-foot clear height, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Construction is..
TAYLOR, MICH. — Signature Associates has arranged the sale of a 93,219-square-foot industrial building in Taylor, about 20 miles southwest of Detroit. The sales price was not disclosed. The property is located at 27000 Wick Road. Steve Gordon of Signature Associates represented the buyer, SCVR Holdings LLC. Brad Viergever, also of Signature Associates, represented the seller, MacLean Enterprises LLC.
ELGIN, ILL. — NKF Capital Markets has brokered the sale of a 74,613-square-foot industrial property in Elgin, about 35 miles northwest of Chicago. The sales price was not disclosed. The building is located at 440 S. McLean Blvd. Advance Engineering Corp. (AEC) has fully occupied the property since 2006. AEC provides the natural gas industry with fabricated meter sets and piping. Adam Marshall and Boris Shraybman of NKF represented the seller, a private ownership group. Bryan Bartlett of..
OAK CREEK, WIS. — Meridian Design Build has completed construction of a 48,200-square-foot warehouse expansion for GE Healthcare in Oak Creek, about 15 miles south of Milwaukee. The facility now totals 328,028 square feet. The project features LED lighting, six loading docks and two doors connecting the new space to the existing building. GE Healthcare uses the building as a repair operations center, and the expansion will be utilized to house spare and repaired parts for the..
LOPATCONG AND PHILLIPSBURG, N.J. — CBRE has negotiated the sale of I-78 Logistics Park, a 365-acre master-planned development located along the Interstate 78/81 corridor in Lopatcong and Phillipsburg. Opus Investments/KTV Inc. sold the property to Bridge Development Partners for $43 million. Situated at 942 Memorial Parkway, the property has approvals in place for the construction of 3.8 million square feet of warehouse and distribution space. Brian Fiumara, Michael Hines, Brad Ruppel and..
FORT LAUDERDALE, FLA. — Bridge Development Partners, in a joint venture with Akard Street Partners LP, Banner Oak Capital Partners LP and Elion Partners, has broken ground on Bridge Point Riverbend, a 221,542-square-foot industrial building in Fort Lauderdale. The building is under construction at the intersection of Interstate 95 and Broward Boulevard. The joint venture acquired the 12-acre site in July for $10.4 million and secured $16.6 million in financing to develop the project. The..
CHICAGO — CoreSite Realty Corp. has acquired a two-acre land parcel in downtown Chicago to build CH2, a 175,000-square-foot data center. The four-story facility will support 18 megawatts of power capacity. CoreSite expects to begin construction on the project at the end of 2018 or the beginning of 2019. The company plans to construct the building in three phases, consisting of six megawatts of capacity per phase, with a total estimated cost of $190 million to $210 million. CH2 will be located..