Industrial

UOVO to Open 150,000 SF Art Storage Facility in Brooklyn

by David Cohen August 30, 2018

NEW YORK CITY — New York-based art, fashion and collections storage company UOVO is set to open a 150,000-square-foot art storage facility in the Bushwick neighborhood of Brooklyn. Scheduled to open in fall 2019, the property will offer specialized climate-controlled storage designed to the standards of the world’s leading museums. The facility will be the largest of its kind in Brooklyn. UOVO: Brooklyn will be three stories tall and built entirely of reinforced concrete. The facility will also include four loading docks and two freight elevators.

August 30, 2018

Acquisitions Industrial Self-Storage Texas

Merit Hill Capital Acquires Two Self-Storage Facilities Totaling 1,088 Units in Houston

by Taylor Williams August 30, 2018

HOUSTON — New York-based investment firm Merit Hill Capital has acquired StorIt! Seven Meadows and StorIt! Woodcreek, two self-storage facilities totaling 1,088 units in Houston. The Seven Meadows property totals 75,741 square feet and 525 units, while the Woodcreek property totals 68,965 square feet and 563 units. Both facilities offer climate- and non-climate-controlled space. The seller was The Jenkins Organization, which has owned Woodcreek since 2013 and Seven Meadows since 2011.

August 30, 2018

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 64,249 SF Industrial Lease in Metro Dallas

by Taylor Williams August 30, 2018

CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 64,249-square-foot industrial lease within Crosby Business Park in Carrollton, a northern suburb of Dallas. Josh Barnes and Canon Shoults of Holt Lunsford represented the landlord, Frontier Equity, in the lease negotiations. Brian Pafford and Jason Finch of Bradford Commercial represented the tenant, Cowtown Materials Inc., a provider of tools and building supplies for the construction industry.

August 30, 2018

Industrial Leasing Activity Maryland Southeast

MRP Industrial Signs Three Industrial Leases Totaling 1.5 MSF in Northern Maryland

by Camren Skelton August 30, 2018

ABERDEEN AND PERRYMAN, MD. — MRP Industrial has signed leases with three tenants in northern Maryland totaling more than 1.5 million square feet. Two of the leases were signed at Eastgate 95, a 250-acre logistics park located along Woodley Road in Aberdeen. Kuehne + Nagel, a logistics provider, signed a full-building lease for 656,880 square feet of warehousing and distribution space at the center. The facility will be operational in September and will create approximately 225 jobs. Kuehne + Nagel provides seafreight, airfreight, contract logistics and overland transportation solutions across sectors including retail, automotive and aerospace, among others. On the adjacent 67-acre site at Eastgate 95, MRP will construct a 600,000-square-foot building for The Container Store, a retail chain devoted solely to storage and organizational products. The new facility will serve as the retailer’s East Coast distribution hub. The third tenant, PrimeSource, a building materials distributor, signed a 250,000-square-foot lease for a new building to be constructed at 505 Advantage Ave. in Perryman. MRP is underway on construction of the facility, which will be ready for move-in by early next year. The building will include three acres of outside storage and provide loading on two sides. Bill Pellington and D. Reid …

August 30, 2018

Illinois Industrial Leasing Activity Midwest

Expeditors International Leases 423,726 SF Warehouse in Streamwood, Illinois

by Kristin Harlow August 30, 2018

STREAMWOOD, ILL. — Expeditors International has signed a 423,726-square-foot industrial lease to fully occupy a warehouse in Streamwood, a northwest suburb of Chicago. A joint venture between Opus Development Co. LLC and USAA Real Estate own the property, which is situated on 35 acres near the Elgin O’Hare Expressway. Building features include a clear height of 32 feet, 48 exterior truck docks, 55 trailer parking stalls and 193 car parking spaces. The build-out for Expeditors International, a logistics company that specializes in warehousing and distribution services, is slated for completion this fall. Doug Pilcher, Jason West and Sean Henrick represented the tenant in the lease transaction. David Prell and Kevin Segerson of CBRE represented the landlord.

August 30, 2018

Development Industrial North Carolina Southeast Top Stories

Publix to Build $300M Distribution Center in Greensboro

by David Cohen August 30, 2018

GREENSBORO, N.C. — Publix Super Markets Inc. has announced plans to build a refrigerated distribution center in Greensboro as part of a multi-phase project. The company plans to invest up to $300 million in the first phase of the project, which is scheduled for completion by 2022. The distribution center, which will be located in Guilford County, will support the delivery of grocery products to Publix locations in the Carolinas and Virginia. The project is expected to create up to 1,000 jobs with an annual payroll of $44 million by 2025. A Job Development Investment Grant (JDIG) approved by the North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) will enable the project to commence. The state estimates that the project will grow the state’s economy by $1.38 billion over the course of the 12-year term of the grant. “Publix’s decision to locate up to 1,000 jobs and a new distribution center in Guilford County affirms our state’s reputation as the ideal place to do business,” says North Carolina Commerce Secretary Anthony M. Copeland. “In addition to our strategic location and proximity to major interstates and railroads, North Carolina is home to a competitive business climate, robust …

August 30, 2018

Acquisitions Industrial Texas

NAI Partners Arranges Sale of 110,000 SF Manufacturing Plant in Houston

by Taylor Williams August 29, 2018

HOUSTON — NAI Partners has arranged the sale of a 110,000-square-foot manufacturing facility situated on 35 acres at 1318 Bammel Road in Houston. The property recently served as the Houston facility for Lectrus Corp., a Tennessee-based provider of electrical solutions that filed for bankruptcy in 2017. Ryan Searle, Nick Peterson and John Ferruzzo of NAI Partners represented the seller, California-based investment firm Granger Associates, in the transaction. Corey Ferguson of Raintree Commercial represented the undisclosed buyer.

August 29, 2018

Development Industrial Self-Storage Texas

The Jenkins Organization Opens 621-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams August 29, 2018

MCKINNEY, TEXAS — The Jenkins Organization (TJO) has opened Storage Center at Craig Ranch, a 621-unit self-storage facility located within the Craig Ranch master-planned community in McKinney, a northern suburb of Dallas. The property officially opened on Aug. 7 and features 95,462 square feet of climate- and non-climate-controlled space. The facility is the company’s second development in the greater Dallas area.

August 29, 2018

Industrial Loans New York Northeast Self-Storage

Progress Capital Secures $30M Bridge Loan for Self-Storage Facility in Brooklyn

by Kristin Harlow August 29, 2018

NEW YORK CITY — Progress Capital has secured a $30 million bridge loan for the American Self Storage Building in Brooklyn. Brad Domenico of Progress Capital secured the interest-only bridge loan for Jorge Madruga of Maddd Equities and Eli Weiss of Joy Construction. The lender was Nataxis. Located at 202-208 Tillary St., the 115,000-square-foot property will continue to be operated as a self-storage facility until plans to convert it into a residential building are finalized.

August 29, 2018

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Brokers $19.5M Sale of Industrial Building in Darien, Illinois

by Kristin Harlow August 29, 2018

DARIEN, ILL. — Lee & Associates has brokered the $19.5 million sale of a 185,850-square-foot industrial building in Darien, a southwestern suburb of Chicago. Built on a speculative basis in 2017, the building is located at 7879 Lemont Road. Brian Vanosky, Tim McCahill and Jeff Janda of Lee & Associates represented the seller, Panattoni Development Co. Mike Plumb of Lee & Associates represented the buyer, a private investor. Tile distributor Tile & Top occupies a portion of the property. Lee & Associates will market for lease the remaining 116,043 square feet.

August 29, 2018

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