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"Smart warehousing"

PLAINFIELD, IND. — Smart Warehousing has signed a 190,440-square-foot industrial lease renewal at 909 Whitaker Road in the Indianapolis suburb of Plainfield. John Sharpe, Steve Beals and Richard King of Lee & Associates represented the tenant, which is a warehousing, fulfillment and logistics solutions company headquartered in Kansas City. Brian Seitz of JLL represented the owner, Nuveen Industrial. The transaction marks Smart Warehousing’s second renewal on the space, which is located adjacent to the Indianapolis International Airport and near I-70.

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CALHOUN COUNTY, S.C. — Red Rock Developments has preleased the first speculative distribution facility at Sandy Run Industrial Park in Calhoun County, roughly 20 miles south of Columbia, to Smart Warehousing, a warehousing, fulfillment and technology solutions company. The tenant will occupy the full 497,952 square feet of the building, which is scheduled to be completed in the second quarter of 2023. The property is located near an Amazon distribution center, Nephron Pharmaceuticals, the PS Air HUB and the Columbia Metropolitan Airport. Chuck Salley, Dave Matthews, Thomas Bear and John Peebles of Colliers represented Red Rock in the lease negotiations. John Sharpe and John DeCuto of Lee & Associates represented Smart Warehousing.

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GERMANTOWN, WIS. — Smart Warehousing has leased a 200,000-square-foot industrial facility at Zilber Property Group’s Germantown Gateway Corporate Park in Germantown, a northwest suburb of Milwaukee. The building, known as Zilber Industrial 3, is under construction and slated for completion this fall. Kansas City-based Smart Warehousing is a warehousing, fulfillment and logistical solutions company with operations located throughout the country. John Sharpe of Lee & Associates represented the tenant in the lease transaction. Michael Kleber of Zilber represented the landlord. Zilber recently completed a 706,000-square-foot build-to-suit for Briggs & Stratton Corp. at the 140-acre Germantown Gateway Corporate Park. The company is developing another 200,000-square-foot speculative building at the park.

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FORT WORTH, TEXAS — Smart Warehousing, an operator and provider of logistics solutions, has entered North Texas via a 269,494-square-foot space within Hillwood’s 26,000-acre AllianceTexas development in Fort Worth. Smart Warehousing was established in 2001 and provides fulfillment, inventory management and value-add software and services to supply chain operators. Reid Bassinger, John Sharpe and Trey Fricke of Lee & Associates represented Smart Warehousing in the site selection and negotiations.

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BATH, PA. — San Francisco-based Prologis has acquired a 449,500-square-foot speculative warehouse in Bath, located north of Allentown in the Lehigh Valley. The building is located within the 40-acre Cubes at Lehigh Valley development and features a clear height of 40 feet, 42 dock-high doors, four grade-level doors, an ESFR sprinkler system and parking for 111 trailers and 237 cars. CRG, a development and investment firm with eight offices around the country, developed and sold the building, which was fully leased to Smart Warehousing at the time of sale.

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It’s been a remarkable 18-month run in the Kansas City industrial market. Developers are being rewarded for their patience and long-term land positions, and larger tenants finally have several options from which to choose among Class-A distribution facilities. In January 2013, the vacancy rate in the Kansas City industrial market was a tight 6 percent, with barely any product available for users searching for modern distribution space of 200,000 square feet or more. At that time, I made some predictions about new construction, vacancy and absorption. Let’s review what happened. Market Drivers Kansas City recorded more than 3.5 million square feet of positive absorption in 2013 alone, adding another 800,000 square feet during the first two quarters of 2014. This demand was driven in large part by the automobile suppliers, online retailers and by governmental agencies. At mid-year, the vacancy rate for Kansas City warehouse product had fallen to 5.6 percent, well below the national average of 7.3 percent. Average lease rates have moved up to pre-recession levels, as regional distributors and third-party logistics companies attempt to secure large blocks of space for their national footprints. In 2013, the market delivered 2.4 million square feet of new industrial product, with …

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What area is your expertise? Industrial property in the Kansas City metropolitan area. What trends do you see presently in industrial development in your area? The emergence of large, big-box distribution centers (greater than 250,000 square feet) as well as the emergence of inland ports, which are logistic parks in close proximity to intermodal centers. Kansas City has traditionally been a market for users of smaller blocks of space, but this has changed over the past 5 years. Transactions greater than 250,000 square feet new to our market include companies such as Case New Holland, Pac Son, Kimberly Clark, and Musician’s Friend. Additionally, large industrial logistics parks are planned for the property adjacent to a new intermodal facility, which has opened in Southern Kansas City at M-150 and 71 Highway at the old Richards-Gebaur Airport, which is operated by Kansas City Southern Railroad. CenterPoint is the developer of this park. Additionally, other intermodal projects are underway in both Gardner, Kansas, and at the Kansas City Airport. What type of industrial product is doing well in your area? Class A distribution space greater than 50,000 square feet. Who are the active industrial developers in your area? Multiple local developers Please name …

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By Ted Branson, Landmark Commercial Real Estate There continues to be strong demand and a resulting shortage of industrial buildings in Wichita from 1,000 to 100,000 square feet for lease or for sale, not dissimilar from the fierce competition for housing, with prospects paying well above market rates just to keep from losing out “again” on an available property.  With that, Wichita is seeing vacancies continue near 5 to 6 percent, an increase in average lease rates from $4 to $6 per square foot, and average sales prices increasing from $35 to $50 per square foot. New construction prices carry that considerably higher. That demand for space, and the increasing prices that prospects will pay, often leads to land sales and new construction. Many of the supply chain issues that caused construction to take up to two years have been improved or resolved, and several projects are underway. Developers have built several speculative warehouses, most notably in the new ICT21 Industrial Park, the former location of the Derby Oil refinery. Ron and Marty Cornejo did a masterful job of clearing the site of structural obstacles and rendering pollution issues innocuous, with Conco erecting three first-class, tilt-up concrete, high-bay warehouses, with …

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National headlines report Amazon, arguably the largest warehouse user in the country, curtailing demand and, in some cases returning space back to landlords. This is sandwiched by stories detailing rising interest rates and land prices, stricter entitlement guidelines and NIMBYs working to apply the brakes on new developments.  But, in “The Land of Pleasant Living,” (a Baltimore nickname made popular by the smart advertising of a local beer), the industrial revolution continues. And, for good reason.    More than 2.3 million square feet of industrial/warehouse space was leased in the greater Baltimore metropolitan region in fourth-quarter 2022, with a net absorption of more than 1.2 million square feet of space, contributing to an overall vacancy rate of 4.5 percent. Additionally, more than 13 million square feet of space is currently under construction and rents have soared more than 50 percent over the past two years, with an average rent of just under $8 per square foot in late 2022.  Significant leases signed in fourth-quarter 2022 included Baltimore International Warehousing & Transportation’s 244,304-square-foot lease at 5250-5330 Holabird Ave.; Amazon’s 241,962-square-foot lease at 1713 E. Patapsco Ave. and the 168,655-square-foot lease executed by Transdev at 1610 Wicomico St. Baltimore is contained within …

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By Eric Voyles, executive vice president, chief economic development officer, TexAmericas Center Whether you are considering moving your business to a new market, acquiring/merging with a competitor, adding staff or increasing your service lines, the risks of expanding an industrial business can be enormous. But with careful research, smart decisions and adequate support, the benefits to taking the next step for your business can far outweigh any negative pressures. For companies looking to expand, the considerations are extensive. Minimizing downtime and supply chain disruption are top priorities and planning ahead can help overcome those pitfalls. Consider these factors when making your decision: 3PL Support For many businesses, it will be the help of third-party logistics (3PL) services that will ultimately provide the best supply chain support and play the most pivotal role in helping reshape the world’s economy and allowing businesses to expand more confidently.  There are several trends that have led companies to 3PL services, which help them minimize risk and outsource elements of their operations. Warehousing, fulfillment services, transportation of goods and management of labor forces are all benefits that 3PL companies can provide.  Whether companies are manufacturing or distributing, they need flexibility. They are typically looking for locations …

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