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Industrial

Exeter to Develop 600,000 SF of Speculative Industrial Space in Metro Austin

BUDA, TEXAS — Exeter Buda Land LP, an affiliate of Philadelphia-based Exeter Property Group, will develop approximately 600,000 square feet of industrial space on a speculative basis in Buda, a city just south of Austin along the Interstate 35 corridor. The company expects to begin construction of Phase I, which will deliver 300,000 square feet, in early 2018. The project is expected to create at least 50 new jobs.

December 6, 2017

BJC Healthare, CoreLink Sign Industrial Leases at Fenton Logistics Park in Fenton, Missouri

FENTON, MO. — BJC HealthCare’s Clinical Asset Management Division and CoreLink have signed industrial leases totaling 150,000 square feet at Fenton Logistics Park, on the site of the former Chrysler plant in Fenton. Starting in January 2018, BJC will occupy 80,000 square feet in Building I. The 160,000-square-foot facility was completed in May. CoreLink, which designs and manufactures precision surgical instruments and implants, will occupy 67,000 square feet in Building II upon completion..

December 6, 2017

IOV Acquires 44-Acre Industrial Lot in Metro Fort Worth

SAGINAW, TEXAS — Industrial Outdoor Ventures (IOV), a Chicago-based investment firm, has acquired a 44-acre industrial lot in the northern Fort Worth metro of Saginaw. Located at 1353 Jarvis Road near Alliance Business Park, the property features 1,700 spaces for trucks, trailers, containers and chassis, making it the largest managed truck and trailer parking lot in the country, according to IOV. The company will invest in capital improvements to the property’s lighting, security measures..

December 5, 2017

SIOR Names Jim Hirt CEO

WASHINGTON, D.C. — The Society of Industrial and Office Realtors (SIOR) has hired Jim Hirt as CEO. Hirt comes to SIOR as a Certified Association Executive (CAE) with 22 years of experience managing staff and volunteer leaders representing global organizations in multiple industries. [caption id="attachment_192632" align="alignright" width="100"] Jim Hirt, CEO of SIOR[/caption] “As the organization continues to grow as an international thought leader and industry expert, we look..

December 5, 2017

Cawley Chicago Brokers $16.9M Sale of Two Industrial Buildings in Indianapolis

INDIANAPOLIS — Cawley Chicago has brokered the sale of two industrial buildings in Indianapolis for $16.9 million. The buildings, totaling 607,231 square feet, are located within the Shadeland I-70 Business Park near I-70 and I-495. The properties were 94 percent occupied by five tenants at the time of sale. The largest tenants, Pratt Visual Solutions and MicroMetl, occupy a combined 89 percent. David Conroy and Timothy Gallagher of Cawley Chicago brokered the transaction. Plymouth Industrial..

December 5, 2017

Meridian Breaks Ground on 75,000 SF Industrial Build-to-Suit in Chicago

CHICAGO — Meridian Design Build has broken ground on a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The property is located on a 4.2-acre site at 2639 S. Damen Ave. The building will feature 36-foot clear heights, LED lighting, a fully air-conditioned wholesale floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Schmidt Design Inc. is providing architectural services, while Kimley-Horn is completing civil..

December 5, 2017

Lee & Associates Negotiates $3.4M Sale of Industrial Building in Elk Grove Village, Illinois

ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated the sale of a 52,082-square-foot industrial building in Elk Grove Village for $3.4 million. The property is located at 1200 Lunt Ave. Mike Plumb, Brad Simousek and Jeff Janda of Lee & Associates represented the seller, American Dawn. Jack Brennan of CBRE represented the buyer, Lawrence Foods, a local manufacturer of bakery ingredients for commercial food manufacturers, in-store supermarket bakeries and foodservice operators.

December 5, 2017

Joint Venture Developing $820M Marine Storage Facility along Houston Ship Channel

PASADENA, TEXAS — A joint venture between Valero Energy Corp. and Magellan Midstream Partners has started construction of Phase I of an $820 million marine storage facility located along the Houston Ship Channel in Pasadena. The facility will handle petroleum products including multiple grades of gasoline, diesel and jet fuel, as well as renewable fuels. Phase I of the development will include 1 million barrels of storage and a new marine dock capable of handling Panamax-sized ships or..

December 5, 2017

McCraney Property to Deliver 345,600 SF Industrial Building in Savannah

SAVANNAH, GA. — McCraney Property Co. has acquired 22 acres in Savannah to develop a 345,600-square-foot, Class A industrial property. Dubbed 95 Logistics @ Pooler Parkway, the property is located near the intersection of Interstates 95 and 16, providing access to the Port of Savannah and Savannah Airport. The proposed development is a front-loaded building with 32-foot clear heights, approximately 48 dock high doors and 100 tractor-trailer parking spaces. The building’s design will also..

December 4, 2017

Nucor Acquires 160-Acre Industrial Land Site, Plans $180M Expansion in Bourbonnais, Illinois

BOURBONNAIS, ILL. — Nucor Corp. (NYSE: NUE) has acquired a 160-acre industrial land parcel in Bourbonnais, about 55 miles south of Chicago. The site is located at the corner of I-57 and 5000 North Road. Nucor’s planned expansion will allow the steel manufacturer to add a full-range merchant bar quality (MBQ) mill to its current bar steel mill operation. MBQ refers to a lower quality type of carbon steel. The $180 million project will take approximately two years to complete. Greg Leutloff..

December 4, 2017