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Industrial

2750-Auto-Park-Way-Escondido-CA
AcquisitionsCaliforniaIndustrialWestern

MCA Realty Purchases Industrial Property in San Diego County for $5.9M

by Amy Works

ESCONDIDO, CALIF. — MCA Realty has entered the North San Diego submarket with the acquisition of a multi-tenant industrial property in Escondido. A private investor sold the property for $5.9 million. Located at 2750 Auto Park Way, the two-building asset features 40,990 square feet of industrial space spread across 13 suites. MCA Realty plans to renovate the existing vacant space, as well as update individual suites as leases expire. Additionally, the buyer plans to upgrade the exterior and increase identity signage. Tucker Hohenstein and Conor Boyle of Colliers International represented the buyer, while the seller was self-represented in the deal.

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DevelopmentFloridaIndustrialSoutheast

Three Developers to Build 617,046 SF Spec Distribution Center in Central Florida

by Alex Tostado

OCALA, FLA. — Red Rock Developments, Westport Capital Partners LLC and Wharton Industrial will build Florida Crossroads Logistics Center, a 617,046-square-foot speculative distribution center in Ocala. The 46-acre site is located about 35 miles south of Gainesville, and is situated approximately one hour from Tampa and Orlando, two hours from Jacksonville and four hours from Miami, allowing the facility to potentially service 14 million people with same-day deliveries. Deborah Mickler and David Wilson of Colliers International are listing the property, which is slated to open in the fourth quarter of 2019.

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GeorgiaIndustrialLeasing ActivitySoutheast

Ackerman & Co. Signs Logistics Firm to 100,800 SF Industrial Lease in Metro Atlanta

by Alex Tostado

STONE MOUNTAIN, GA. — Ackerman & Co. has leased 100,800 square feet of space to Best Warehousing & Transportation Center Inc. (BWT) at Stone Mountain Industrial Park, located about 16 miles from downtown Atlanta. The industrial park is now 94 percent leased. Atlanta-based Ackerman & Co. was represented internally by Brett Buckner, Jimmy Stevens and Major Martin. The tenant also represented itself in the lease transaction. BWT specializes in inspecting, repairing and repackaging products that have been returned from retail reclaim centers.

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AcquisitionsIndustrialMassachusettsNortheast

CBRE/New England Negotiates $25M Sale of Distribution Facility in Massachusetts

by David Cohen

BELLINGHAM, MASS. — CBRE/New England has negotiated the $25 million sale of a 210,700-square-foot distribution facility in Bellingham. Located at 190 Mechanic St., the property was built in 2006 and features 32-foot clear heights, T5 motion-sensor lighting and ESFR sprinkler systems. The building is fully leased to three tenants. Chris Skeffington, John Lashar and Roy Sandeman of CBRE/New England represented the seller, Guggenheim Real Estate. The buyer was TH Real Estate.  

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IndustrialLeasing ActivityMidwestMissouri

Two New Tenants Sign Leases at Fenton Logistics Park in Missouri

by Kristin Harlow

FENTON, MO. — Two new tenants have signed industrial leases totaling just under 100,000 square feet at Fenton Logistics Park in Missouri. Skin Specialty Solutions Inc. has leased the remaining 48,080 square feet in Fenton Logistics Park I. The first speculative building within the park totals 159,950 square feet. The online skincare company expects to move into its space in February 2019 and create 100 new jobs. Nexius Solutions Inc. has leased 51,772 square feet within Fenton Logistics Park III. The 169,543-square-foot building is now 77 percent leased. The technology company plans to occupy the space in February 2019 and create 50 new jobs. Jon Hinds and Katie Haywood of CBRE represented the landlord, US Capital Development, in both lease transactions. Hal Ball of Hiliker Corp. represented Skin Specialty Solutions, while Jeff Hawley and Brandon Duncan of Block Hawley represented Nexius Solutions. Fenton Logistics Park is a $250 million redevelopment of the former Chrysler plant in Fenton, Mo. Upon full build-out, the development will span 2.5 million square feet.

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Wintergreen-Exchange-Lancaster-Texas
DevelopmentIndustrialTexas

JDC to Build 615,000 SF Distribution Center in Metro Dallas for Ollie’s Bargain Outlet

by Taylor Williams

LANCASTER, TEXAS — Jones Development Co. (JDC) will build a 615,000-square-foot, build-to-suit distribution center in the southern Dallas metro of Lancaster for discount retailer Ollie’s Bargain Outlet, which will ultimately purchase the property. The Class A facility will be located within Wintergreen Exchange, a 71-acre industrial park, and is expected to be complete by the fourth quarter of 2019. Building features will include 36-foot clear heights, 75-foot speed bays, 100 dock doors, 14,500 square feet of office space and an ESFR sprinkler system. Gary Collett and David Eseke of Cushman & Wakefield marketed the property on behalf of JDC. John Van Buskirk of Lee & Associates, along with Sharon Morrison and Brad Struck of ESRP, represented Ollie’s Bargain Outlet in the deal. The project team is comprised of general contractor Bob Moore Construction, civil engineer Pacheco Koch and designer Alliance Architects.    

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9581-Joe-Rodriguez-Drive-El-Paso
DevelopmentIndustrialTexas

Hanson Breaks Ground on 125,646 SF Spec Industrial Project in El Paso

by Taylor Williams

EL PASO, TEXAS — Hanson Asset Management LP has broken ground on Hanson Spec Building B, a 125,646-square-foot industrial project located at 9581 Joe Rodriguez Drive in El Paso. The Class A property will be situated one block from the Zaragoza International Bridge and will be available for lease beginning in July 2019. CBRE is marketing the property on behalf of Hanson. Two additional buildings are planned next door for any future expansion requirements.  

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DevelopmentIndustrialSelf-StorageTexas

Regal Self Storage Development to Build New Facility in San Antonio

by Taylor Williams

SAN ANTONIO — Regal Self Storage Development has acquired land at 12615 Judson Road near Interstate 35 in northeastern San Antonio for the construction of a new, Class A facility. Though subject to change, Phase I of the site plan proposed by the seller would deliver 704 units totaling 82,100 net rentable square feet. Phase II would expand the site by 10,800 gross square feet. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, in the land sale. A timeline for construction has not yet been established.

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IndustrialMarket ReportsMichiganMidwestMidwest Market Reports

Strong Manufacturing Industry Boosts Grand Rapids Industrial Market

by Kristin Harlow

Last month I attended the NAI Global convention in Austin, Texas, and had the opportunity to talk with industrial real estate brokers from around the country. One thing was clear: there are many markets across the country that are facing the same dilemma as we are in West Michigan. The supply of vacant industrial buildings is at an all-time low, and construction costs are rising rapidly.    Booming economy The manufacturing industry is extremely strong in West Michigan. Historically known for the automotive and furniture sectors, West Michigan has developed a strong presence in the medical device manufacturing, food processing and aerospace sectors. This diversity is a good indicator of stability for the West Michigan manufacturing sector for the foreseeable future. The strength of the economy has encouraged many companies to expand operations and has attracted numerous out-of-market companies to West Michigan. Low inventory The industrial vacancy rate in the greater Grand Rapids market is currently 1.6 percent, which is historically low. In order to provide some context, in 2012 the vacancy rate was 7.2 percent. Typically, when the vacancy rate is this low, it is a clear indicator that inventory is too low, and the construction of new buildings …

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DevelopmentIndustrialMarylandSoutheast

St. John Properties Breaks Ground on Three Buildings in Maryland Industrial Park

by Alex Tostado

FREDERICK, MD. — St. John Properties has broken ground on three buildings within Arcadia Business Park in Frederick, about 50 miles west of Baltimore. The buildings will total 200,000 square feet when complete and represent Phase I of construction at the 61-acre industrial campus. Arcadia Business Park will total 600,000 square feet across eight buildings at full buildout. Phase I is expected to deliver in the summer.

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