Industrial

Griffin to Build 147,000 SF Spec Facility within Industrial Park Near Charlotte

by Camren Skelton September 13, 2018

CONCORD, N.C. — Griffin Industrial Realty Inc. has unveiled plans to expand its Carolina Tradeport industrial park in Concord, a city roughly 25 miles northeast of Charlotte. Griffin acquired 22 acres of land at the site in July for the development of a 147,000-square-foot speculative building — the second within the development. The building will be located directly across from the first building, a 277,252-square-foot warehouse. Site work is scheduled to begin on the second building this month, with completion slated for May 2019. The building will feature 210-foot depth, a 60-foot speed bay, 32-foot clear heights, an ESFR sprinkler system, 42 loading docks, two drive-in doors, trailer parking and 172 auto parking spaces. The third building, which will total 136,000 square feet, is available for prelease. William Maxwell and Terry Brennan of Trinity Partners are handling Carolina Tradeport’s leasing assignment and managing the park.

September 13, 2018

Florida Industrial Loans Multifamily North Carolina Retail Southeast

Ready Capital Arranges $29M in Loans for Four Properties in Florida, North Carolina

by Camren Skelton September 13, 2018

NEW YORK — New York-based Ready Capital Structured Finance has arranged four loans totaling $29 million for properties located in Florida and North Carolina. The first loan, totaling $8.8 million, was for the acquisition, renovation and stabilization of an 86-unit multifamily property in Largo, Fla. The 36-month, floating-rate loan features interest-only payments and one 24-month extension option. The undisclosed borrower will initially acquire 61 units at the community, and will acquire the rest of the units over the next three years. The second loan was for the acquisition, renovation and lease-up of a 38,000-square-foot retail center in Belleair Bluffs, Fla., roughly 26 miles west of Tampa. The $7.1 million loan, 60-month loan features both a fixed interest rate and a floating rate. The name of the borrower was not disclosed. The third loan was a $6.5 million, floating-rate loan with a 24-month term that was used to fund the acquisition, renovation and lease-up of a 60,000-square-foot industrial/flex property in Hollywood, Fla. The name of the borrower was not released. The final loan was used to fund the acquisition, renovation and lease-up of a 41,000-square-foot shopping center in Charlotte. The $6.7 million, non-recourse loan featured a 48-month term with interest-only payments …

September 13, 2018

McClellan-Distribution-Center-Sacramento-CA

California Development Industrial Western

McClellan Park Breaks Ground on 417,000 SF Distribution Warehouse in Sacramento

by Amy Works September 13, 2018

SACRAMENTO — McClellan Business Park LLC has broken ground on McClellan Distribution Center, a speculative warehouse facility located at 2400 McClellan Park Drive in Sacramento. Slated for completion in mid-2019, the 417,214-square-foot Class A property will be divisible and able to accommodate up to 22,000 square feet of customizable office space. Additionally, the property will feature cross-dock loading with 135-foot truck courts, 95 dock doors, four grade-level doors, 36-foot clear heights, 50-foot by 54-foot column spacing, rail spur potential (Union Pacific Railroad and BNSF Railway) and ESFR sprinklers. The property is being constructed on 22.9 acres on McClellan Park’s west side industrial district. McClellan Park LLC has more than 500 acres of developable land in this specific district and is entitled to construct more than 5 million square feet of industrial space. Since the official closure of McClellan Air Force Base in 2001, the privatized McClellan Park has grown to include a mix of companies that span its 8.5 million square feet of leasable space and 500 acres of developable land. A total of $580 million has been invested across the project in infrastructure and building improvements. The project includes a mix of residential, office, warehouse, event venue, retail and …

September 13, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Secures 117,072 SF Industrial Lease in Irving

by Taylor Williams September 13, 2018

IRVING, TEXAS — Lee & Associates has secured a 117,072-square-foot industrial lease at 8701 Sterling St. in Irving. Reid Bassinger and Trey Fricke of Lee & Associates represented the tenant, Builders First Source Inc., a Dallas-based provider of construction materials and supplies, in the lease negotiations. Brett Owens of Transwestern represented the landlord, Colony NorthStar.

September 13, 2018

Acquisitions Illinois Industrial Midwest

Conor Commercial, Globe Corp. Sell Industrial Building in Elgin, Illinois for $29.8M

by Kristin Harlow September 12, 2018

ELGIN, ILL. — Conor Commercial Real Estate and Globe Corp. have sold Northwest Pointe II in Elgin for $29.8 million. Cabot Properties purchased the 385,372-square-foot industrial building. The property, which is fully leased to Box Partners, is situated on a 22-acre parcel within the Northwest Corporate Park. Construction on a third building at the park is expected to begin in spring 2019. John Huguenard and Ed Halaburt of JLL and Ken Franzese and John Cassidy of Lee & Associates represented the seller in the transaction.

September 12, 2018

Acquisitions Illinois Industrial Midwest

Brown Commercial Brokers $2.6M Sale of Industrial Property in Lake Barrington, Illinois

by Kristin Harlow September 12, 2018

LAKE BARRINGTON, ILL. — Brown Commercial Group has brokered the $2.6 million sale of a 32,000-square-foot industrial property in Lake Barrington, about 40 miles northwest of Chicago. The buyer, PEGA LLC, will use 10,000 square feet of the building for its own industrial business while an existing tenant will lease the remaining 22,000 square feet. Freund Properties LLC was the seller. Jim Pietrarosso represented both the buyer and the seller in the transaction. The fully leased building features four docks and drive-in doors as well as 9,100 square feet of office space.

September 12, 2018

Acquisitions Industrial Texas

NAI Partners Negotiates Sale of 125,000 SF Industrial Property in Houston

by Taylor Williams September 12, 2018

HOUSTON — NAI Partners has negotiated the sale of a 125,000-square-foot industrial property located at 8203 Market St. in Houston. According to LoopNet Inc., the property was built in 1985 and is zoned for manufacturing. John Ferruzzo and Clay Pritchett of NAI Partners represented the seller, 8203 Market Street Road LLC, in the transaction. Matthew Goldsby of Belvoir Real Estate Group represented the buyer, 8203 MSR Properties LLC.

September 12, 2018

Development Georgia Industrial Southeast

Trammell Crow, Clarion Buy 109.7 Acres for Third Phase of Industrial Park in Northeast Georgia

by Camren Skelton September 12, 2018

JEFFERSON, GA. — Trammell Crow Co. (TCC) and joint venture partner Clarion Partners LLC have acquired 109.7 acres for the third phase of Jefferson Mill Business Park, an industrial park in the northeast Georgia city of Jefferson. The acquisition represents an assemblage of seven properties held by seven different owners. Price Weaver and Ben Logue of Colliers International represented TCC and Clarion Partners in the transaction. Matt McCord of Norton Commercial, Grant Whitworth of Whitworth Land Corp. and Kim Bowman of Keller Williams represented the various sellers. Phase III of Jefferson Mill Business Park will be a build-to-suit, cross-dock distribution facility that will span between 1.1 and 1.5 million square feet. The first two phases of the industrial park include more than 500 trailer spaces and 1,000 auto parking spaces. All together, Jefferson Mill Business Park spans 232 acres and includes 2.7 million square feet of industrial space. A construction timeline for Phase III was not disclosed.

September 12, 2018

Industrial Loans Northeast Pennsylvania

HFF Arranges $1.4M Refinancing for Industrial Facility in Reading, Pennsylvania

by David Cohen September 11, 2018

READING, PA. — HFF has arranged a $1.4 million refinancing for a 70,000-square-foot, single-tenant industrial facility in Reading. Michael Pagniucci and Ryan Ade of HFF represented the borrower, J&R Investments, to secure a seven-year, fixed-rate loan through a local money center bank. The 5.8-acre property is occupied by transportation logistics company S&H Express and is located at 2600 Beltline Ave.

September 11, 2018

California Industrial Leasing Activity Western

Voit Real Estate Secures $33M Lease for 750,000 SF Industrial Property in Inland Empire

by Amy Works September 11, 2018

ONTARIO, CALIF. — Voit Real Estate Services has arranged the lease of an industrial warehouse located within Shea Center Ontario, a five-building business park located at 5400 Shea Center Drive in Ontario. The lease is valued at $33 million. Canada-based Dorel Home Furnishings, a global manufacturer and distributor of products in the juvenile, sports and home furnishings sectors, will occupy the 750,000-square-foot space and utilize it as a distribution center for the company’s home furnishings division. Aliso Viejo, Calif.-based Shea Properties owns the business park, which is fully occupied. Other tenants include Emser Tile, Trek Bicycle, Restoration Hardware and Neovia Logistics. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit’s Inland Empire office represented the landlord, while Chuck Belden and Kyle Kehner of Cushman & Wakefield represented the tenant in the transaction.

September 11, 2018

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