Industrial

Avison Young Negotiates $70M Sale-Leaseback of Transformco Distribution Center in Central Florida

by John Nelson November 19, 2019

OCALA, FLA. — Avison Young’s Florida Capital Markets Group has negotiated the sale-leaseback of the approximately 1.9 million-square-foot Transformco Distribution Center located at 655 S.W. 52nd Ave. in Ocala. HFZ-Reich, a partnership between HFZ Capital Group and Reich Brothers, purchased the asset for $70 million. Michael Fay, Jay Ziv, John Crotty, David Duckworth, Brian de la Fé, Berkley Bloodworth and Emily Brais of Avison Young negotiated the sale on behalf of the seller and tenant, Transform Holdco (Transformco). With the sale-leaseback agreement, Transformco continues to occupy the property to operate its main distribution center supporting Sears, Kmart and Hometown stores in the Southeast United States. The 10-year lease agreement includes a 10-year renewal option for Transformco. In conjunction with the sale of 126,336-square-foot Sears store at 9409 U.S. Highway 19 in Port Richey, Fla., the Transformco deal marks $300 million in sales for Avison Young’s Florida Capital Markets Group in the past two months.

November 19, 2019

Development Industrial Mississippi Southeast Top Stories

Hillwood to Develop 1 MSF Amazon Fulfillment Center in North Mississippi

by John Nelson November 19, 2019

OLIVE BRANCH, MISS. — Hillwood Investment Properties plans to build a 1 million-square-foot fulfillment center in Olive Branch, approximately 25 miles from Memphis, for e-commerce giant Amazon (NASDAQ: AMZN). The facility will house picking, packing and shipping operations for larger customer orders and create 500 new full-time jobs. According to The Clarion-Ledger, the new facility will be located within Hillwood’s Legacy Park, a 266-acre business park in DeSoto County. The Class A industrial campus has proximity to U.S. Highway 78 and Tennessee Highway 385; the BNSF and Norfolk Southern intermodal terminals; Memphis International Airport; FedEx Air and Ground hubs; and a UPS sort hub. In 2018, Amazon unveiled plans for another fulfillment center in nearby Marshall County, leasing 554,000 square feet within Panattoni Development’s Gateway Global Logistics Center. “Mississippi has proven itself to be a great place for Amazon to do business and gives us the opportunity to better serve our customers in the region,” says Alicia Boler Davis, Amazon’s vice president of global customer fulfillment. “We are excited about our growth and remain committed to creating a positive economic impact in the region with job opportunities that have great pay and benefits.” No timeline for construction was disclosed. Hillwood …

November 19, 2019

Industrial Leasing Activity Texas

National Container Group Signs 120,960 SF Industrial Lease in Metro Dallas

by Taylor Williams November 18, 2019

HUTCHINS, TEXAS — National Container Group LLC has signed a 10-year, 120,960-square-foot industrial lease at Intermodal Business Center in Hutchins, a southern suburb of Dallas. Construction is underway to reconfigure the property, which was built in 2017 and features 32-foot clear heights, an ESFR sprinkler system and 38 dock doors, for National Container Group’s needs. Jean Russo of Cushman & Wakefield represented the tenant in the lease negotiations. Michael Grant and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, Intermodal Warehouse Partners.

November 18, 2019

Industrial Leasing Activity Texas

NAI Partners Negotiates 8,100 SF Industrial Lease for BSN Sports in Houston

by Taylor Williams November 18, 2019

HOUSTON — NAI Partners has negotiated an 8,100-square-foot industrial lease for BSN Sports, a distributor of athletic apparel and equipment, a t 11707 S. Sam Houston Parkway West in Houston. Chris Caudill of NAI Partners represented the tenant in the lease negotiations. Boone Smith and Garret Geacccone of Stream Realty Partners represented the landlord, DRA Advisors LLC.

November 18, 2019

Acquisitions Georgia Industrial Southeast

Industrial Outdoor Ventures Acquires Two Trucking Facilities Near Atlanta

by Alex Tostado November 18, 2019

FAIRBURN AND CONLEY, GA — Industrial Outdoor Ventures (IOV) has acquired two trucking facilities in the metro Atlanta area. The assets included a truck and trailer parking facility located at 7200 Graham Road in Fairburn, 20 miles south of Atlanta and near the CSX Intermodal station. The developer leased the entirety of the property to Store My Truck, a tractor-trailer parking company headquartered in Atlanta. In addition, IOV bought 3987 Moreland Ave., an 11-acre truck and trailer repair shop and storage yard in Conley. IOV also signed a deal with Store My Truck for 1,750 square feet of office space and six acres of storage. The site contains a 14,750-square-foot office/repair shop and seven truck bays. Trailco Group occupies the remaining office space and four acres of ground storage at the site. Conley is situated 10 miles south of Atlanta, near Hartsfield-Jackson Atlanta International Airport and Interstates 675 and 285. Private investors sold both facilities to Chicago-based IOV for an undisclosed price.

November 18, 2019

Acquisitions Industrial Northeast Pennsylvania

Colliers Brokers Sale of 100,800 SF Industrial Facility in Bristol, Pennsylvania

by Taylor Williams November 18, 2019

BRISTOL, PA. — Colliers International has brokered the $6.8 million sale of 220 Rittenhouse Circle, a 100,800-square-foot industrial facility in Bristol, a southern suburb of Trenton. The property is located within Keystone Industrial Park, which offers immediate access to I-95 and also houses tenants including FedEx, L3 Communications and Office Depot. Jim Scott of Colliers represented the buyer, Penwood Real Estate Investment Management. The seller was undisclosed.

November 18, 2019

Development Industrial Midwest Wisconsin

Kroger, Ocado Select Pleasant Prairie, Wisconsin for Sixth Customer Fulfillment Center

by Kristin Harlow November 18, 2019

PLEASANT PRAIRIE, WIS. — The Kroger Co. and online grocery retailer Ocado have selected Pleasant Prairie for their sixth customer fulfillment center. The facility will span 350,000 square feet and is expected to create up to 400 new jobs. The project is slated to take two years to construct. The facility will serve customers in Wisconsin, northern Illinois and northwest Indiana. In June, Kroger broke ground on its first customer fulfillment center in Monroe, Ohio, and has since announced additional locations in Florida, Georgia, Texas and the Mid-Atlantic region.

November 18, 2019

Scripps-Ranch-Business-Park-San-Diego-CA

Acquisitions California Industrial Western

JLL Brokers $23.2M Sale of Five-Building Scripps Ranch Business Park in San Diego

by Amy Works November 18, 2019

SAN DIEGO — JLL has arranged the sale of Scripps Ranch Business Park, a fully leased R&D/industrial park in San Diego’s Scripps Ranch submarket. A partnership between San Diego-based Hill Properties and RGA ReCap Inc. (ReCap Real Estate Investments), on behalf of Reinsurance Group of America, sold the asset to Dollinger Properties for $23.2 million. Totaling 94,309 square feet, Scripps Ranch Business Park comprises five freestanding buildings that are fully leased to five tenants, including Siemens, USPS and Apria Healthcare. The business park is situated on 7.5 acres at 10060, 10070, 10080, 10090 and 10100 Willow Creek Road. Sach Kirpalani, Lynn LaChapelle and Bob Prendergast of JLL Capital Markets represented the seller in the transaction.

November 18, 2019

Development Industrial Nevada Western

Plumbing Manufacturer Opens 148,000 SF Distribution Center in North Las Vegas

by Amy Works November 18, 2019

NORTH LAS VEGAS — Oatey Co., a plumbing manufacturer since 1916, has opened a new distribution center in North Las Vegas. The 148,000-square-foot facility features high efficiency LED lighting and HVLS fans, and meets LEED Silver requirements. The distribution center will stock thousands of residential and commercial plumbing products across the company’s 23 categories and sold under the Oatey family of brands. The new facility will further enhance Oatey’s ability to service its customers in the West.

November 18, 2019

Industrial Kentucky Market Reports Southeast Southeast Market Reports

After Year of Record Industrial Leasing, Investors Zeroing in on Louisville

by Alex Tostado November 18, 2019

In 2018, Louisville saw a record year with more than 10 million square feet of net absorption in its industrial sector. This is a huge absorption number for any of the Midwest markets and represents more than three times Louisville’s previous record. Louisville was second only behind Chicago out of the Midwest markets tracked by CBRE. The absorption follows a record year for speculative construction as well, as close to 4 million square feet was delivered in 2018. User demand came from all sectors, including automotive, e-commerce, third-party logistics firms (3PLs), manufacturing and medical. Automotive and manufacturing were particularly strong performers. The more notable automotive and manufacturing transactions in 2018 were three Ford Motor Co. leases totaling more than 1 million square feet, as well as New Flyer’s 315,000-square-foot, $30 million transit bus and motorcoach parts fabrication facility in Bullitt County. Additionally, Denso leased 311,000 square feet in Southern Indiana and KCC opened another 224,000-square-foot plant to expand production capacity of its HVAC equipment line. Distribution remains strong in Louisville due to its central location and available workforce. According to a recent report from CBRE’s Labor Analytics Group, Louisville has the highest distribution labor score among the Midwest markets. As …

November 18, 2019

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