EMERSON GA. — Black Creek Group has bought 53 acres in Emerson with plans to develop River Point, a three-building industrial park totaling 777,000 square feet. The Denver-based developer said the park can accommodate tenants needing 40,000 to 400,000 square feet. River Point will be located about 40 miles northwest of downtown Atlanta. Black Creek expects construction to begin on all three buildings by the end of this year.
UNION TOWNSHIP, OHIO — Total Quality Logistics (TQL) has unveiled plans to construct a 120,000-square-foot, second building on its headquarters campus at Ivy Pointe Boulevard in Union Township near Cincinnati. The goal of the expansion is to accommodate nearly 600 new employees that the company anticipates hiring, primarily in sales and information technology roles, over the next five years. TQL is a freight brokerage company, offering truckload and intermodal logistics services. The company’s existing building is 100,000 square feet. TQL anticipates construction costs of $20 million for the new building, plus an additional investment to renovate its current site. TQL is still finalizing plans for the design of the building.
BARTLETT, ILL. — Meridian Design Build has broken ground on a 100,560-square-foot industrial build-to-suit for Cathay Industries in Bartlett. The property will be situated on a 6.8-acre site within Abbott Land & Investment’s Blue Heron Business Park. The building will feature a clear height of 30 feet, eight loading docks, two drive-in doors, 70 car parking spaces and 4,000 square feet of office space. It will be the fourth building within Blue Heron Business Park. Cathay is an iron oxide manufacturer. Harris Architects and Mackie Consultants make up the project team. A timeline for completion was not disclosed.ggg
ST. LOUIS — Plymouth Industrial REIT Inc. (NYSE: PLYM) has acquired a Class B industrial building in St. Louis for $5.4 million. Located in the Hazelwood/Airport submarket with convenient access to I-70, the 129,000-square-foot building is fully leased to two tenants. Motor Service Inc. is an industrial equipment supplier, specialized trucking and airfreight hauler, and warehousing and materials handler. Wellfit Parts International Co. is a customer service collision parts and accessory parts distributor, specializing in parts for luxury vehicles. Boston-based Plymouth focuses on the acquisition and operation of single- and multi-tenant industrial properties.
KENOSHA, WIS. — A joint venture between Clear Height Properties and Israel-based Buligo Capital Partners has acquired the 354,000-square-foot headquarters of Kenall Lighting Inc. The purchase price was not disclosed. The manufacturing and distribution facility is located within the Business Park of Kenosha. Completed in 2014, the building sits on a 20.4-acre site and includes 50,000 square feet of office space. It features a clear height of 32 feet, eight exterior docks, one drive-in door and 442 car parking stalls. Kenall Lighting produces lighting fixtures, with applications in corrections, healthcare, public spaces, food processing and transit. Jeffrey Devine and Steve Disse of Colliers International represented the seller, a private investor.
ST. LOUIS — The Opus Group has broken ground on a 155,000-square-foot speculative warehouse at Soulard Business Park in St. Louis. Completion is slated for the second quarter of 2020. The development, which will sit on approximately eight acres, will feature a clear height of 32 feet and 24 trailer parking stalls. Patrick Reilly and David Branding of JLL will market the property for lease. Soulard Business Park is a project led by Environment Operations Inc. and involves the redevelopment of a former manufacturing facility.
HENDERSON, NEV. — BKM Capital Partners has purchased Pacific Business Center, a light multi-tenant industrial property in Henderson, for $111.2 million. The 13-building asset is located at 1045-1175 American Pacific Drive, 160-194 Gallagher Crest Road and 1060-1110 Mary Crest Road and offers a total of 898,389 square feet of industrial space. Constructed between 1996 and 1998, Pacific Business Center has undergone more than $12.4 million in capital improvements since 2010. Renovations included high-quality HVAC and EVAP systems, LED lighting, upgraded office finishes and new exterior paint. The property features 24-foot to 28-foot clear heights, ESFR sprinkler systems and new thermoplastic polyolefin (TPO) roofs. At the time of sale, the property was 85 percent occupied by a diverse mix of tenants. BKM was self-represented, while CBRE represented the undisclosed seller in the deal.
PHOENIX — CapRock Partners, along with an institutional client advised by CenterSquare Investment Manager, has purchased Papago Distribution Center, a Class A industrial property located at 1010 N. 47th Ave. in Phoenix. A global asset manager sold the property for an undisclosed price. Updike Distribution Logistics, a third-party logistics company, fully occupies the 226,436-square-foot facility. The property features 5,000 square feet of office space, 30-foot clear heights, 60 dock-high doors and three drive-in ramps. Situated on 12 acres, the asset features a 130-foot truck court and heavy power capacity. Additionally, the property is rail-service capable with seven knock-out doors and nearly 200 parking spaces. Bo Mills and Mark Detmer of JLL represented the CapRock in the acquisition.
DALLAS — Chicago-based Brennan Investment Group has sold 8820 Ambassador Row, an industrial property located near Love Field Airport and Interstate 35 in Dallas. According to LoopNet Inc., the property was built in 1966 on 5.9 acres and totals 129,061 square feet. The building serves as the corporate headquarters of Delivery Limited and houses all of its storage, logistics and administrative functions. The buyer was not disclosed.
Cabot, Republic Property Break Ground on 275,000 SF Distribution Center Near Atlanta for Biolab Inc.
CONYERS, GA. — Cabot Properties and Republic Property Co. have broken ground on a 275,000-square-foot, build-to-suit distribution center in Conyers. Biolab Inc. will occupy the entire building upon completion. Biolab, which has operated in Conyers since 1973, will use the new facility to house production and storage space for pool and spa water-treatment chemicals. The center will feature a 32-foot ceiling clear height, fifteen overhead dock doors and two drive-in doors. ARCO Design/Build is the general contractor. A timeline for completion was not disclosed.