Industrial

Sheehan-Family-Cos.-Kingston-Massachusetts

Dacon Corp. Completes 62,000 SF Headquarters Renovation in Kingston, Massachusetts

by Alex Patton July 29, 2019

KINGSTON, MASS. — Local design-build firm Dacon Corp. has completed a 62,000-square-foot renovation project at the headquarters of the Sheehan Family Cos., a distributor of beer and spirits in the Northeast region. The property is located in Kingston, a city on the southeast coast of Massachusetts. Renovations expanded the facility by 47,000 square feet, adding more temperature-controlled areas, storage space and efficient distribution capabilities. Renovations to the existing facility covered an additional 15,000 square feet.

July 29, 2019

Acquisitions Indiana Industrial Midwest

Monmouth Acquires 350,000 SF Industrial Building in Lafayette, Indiana for $25.5M

by Kristin Harlow July 29, 2019

LAFAYETTE, IND. — Monmouth Real Estate Investment Corp. has acquired a 350,000-square-foot industrial building in Lafayette for $25.5 million. The property is situated on 45 acres at 5440 Haggerty Lane. Toyota Tshusho America Inc. occupies the property on a net-lease basis for 10 years. The facility serves the 3.3 million-square-foot Subaru auto assembly plant, which is situated directly across from the building. The seller was not disclosed.

July 29, 2019

Illinois Industrial Leasing Activity Midwest

DHL Signs 60,000 SF Industrial Lease in Batavia, Illinois

by Kristin Harlow July 29, 2019

BATAVIA, ILL. — DHL has signed a 60,000-square-foot industrial lease in Batavia, a western suburb of Chicago. The recently completed, 102,000-square-foot building is located at 1100 N. Raddant Road within the Northeast Business Park. Principal Construction built the facility on behalf of developer Midwest Industrial Funds. Approximately 42,000 square feet remain available for lease.

July 29, 2019

Development Industrial Self-Storage Texas

The Jenkins Organization Opens 800-Unit Self-Storage Facility in North Austin

by Taylor Williams July 29, 2019

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based self-storage developer, has opened Northgate Storage, an 800-unit facility in Austin. The property, which spans 124,000 square feet of climate-controlled space, fronts State Highway 183 on the city’s north side. Additional features include a covered loading zone, video monitoring and gated access. ARCO/Murray served as the design-build firm on the project.

July 29, 2019

Industrial Market Reports Oregon Western Western Market Reports

Talent, Manufacturing Bolster Portland’s Industrial Market

by Taylor Williams July 27, 2019

Strong economic growth on the West Coast from the booming tech industry has benefited Portland’s economy. As a result, considerable employment and population growth, particularly from the Millennial generation, has elevated the industrial market significantly in recent years. According to CBRE, demographic growth and the national shift to online consumption have contributed to a steadily decreasing industrial vacancy rate since 2010, which reached 3.3 percent in early 2019. Demand for industrial space began to pick up speed about five years ago and has since boosted asking rents 45 percent. Build-to-suit construction projects were a growing trend in 2018, delivering more than 2.9 million square feet for existing tenants, the largest developments being the Troutdale Reynolds and Rivergate. To date, 2019 construction has been exclusively speculative with half a million square feet delivered thus far and 41 percent preleased. An additional 1.4 million square feet is under construction and expected to deliver by year-end 2020, none of which is pre-committed. At the same time, demand for industrial space of 100,000 square feet or greater accounts for 20 percent of users in the market. The speculative construction projects delivering during the next 18 months should provide some supply options for users of …

July 27, 2019

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 53,548 SF Industrial Building in Metro Houston

by Taylor Williams July 26, 2019

SPRING, TEXAS — Marcus & Millichap has arranged the sale of a 53,548-square-foot industrial building located at 3315 Spring Cypress Road in the northern Houston suburb of Spring. According to LoopNet Inc., the property was built on four acres in 2001. Thomas Costello of Marcus & Millichap represented the seller, a partnership, in the transaction. Other terms of sale were not released.

July 26, 2019

Acquisitions California Industrial Office Western

Embarcadero Capital Partners, PCCP Acquire 472,000 SF Office/R&D Campus in Silicon Valley

by Amy Works July 26, 2019

MILPITAS, CALIF. — Embarcadero Capital Partners and PCCP have purchased Park Point, a recently renamed office/R&D campus located at 115-155 N. McCarty Blvd. in Milpitas. Los Angeles-based Hudson Pacific Properties sold the asset for an undisclosed price. Situated on 30 acres, the campus features three buildings totaling approximately 472,000 square feet. The buyers retained HOK, a global design, architecture, engineering and planning firm, to revitalize the property into a contemporary, creative workplace. Jeff Arrillaga, Shawn Kellenberger and Michael Saign of Newmark Knight Frank’s Silicon Valley offices represented the seller in the transaction.

July 26, 2019

Mira-Loma-Industrial-Center-Jurupa-Valley-CA

Acquisitions California Industrial Western

Davis Partners Sells Mira Loma Industrial Center South in Southern California for $30M

by Amy Works July 26, 2019

JURUPA VALLEY, CALIF. — Davis Partners has completed the sale of Mira Loma Industrial Center South, an industrial park located in the Riverside County city of Jurupa Valley. An undisclosed buyer acquired the 172,898-square-foot asset for nearly $30 million. Part of a master-planned, 269,195-square-foot development by Davis Partners, Mira Loma Industrial Center South consists of five freestanding buildings on De Forest Circle and Nobel Court: Building 7 (31,093 square feet), Building 8 (30,684 square feet), Building 9 (39,722 square feet), Building 10 (33,773 square feet) and Building 11 (37,626 square feet). The property was completed in June and is the only new construction completion in the Jurupa Valley/Eastvale area this year, according to Cushman & Wakefield Research. Milo Lipon, Tal Siglar, Ryan Velasquez and Andrew Starnes of Cushman & Wakefield’s Ontario, Calif., office represented the seller in the deal.

July 26, 2019

Acquisitions Industrial New York Northeast

DH Property Holdings Breaks Ground on Distribution Center in Brooklyn

by Alex Patton July 26, 2019

NEW YORK CITY — Local developer DH Property Holdings (DHPH) has broken ground on an 85,000-square-foot speculative distribution center in the Red Hook section of Brooklyn. The single-story property, located at 55 Bay St., will feature 36-foot clear heights, 54-by-58-foot column spacing, 18 loading docks and two drive-in doors. Construction is expected to be complete in the second quarter of 2020. Rob Kossar and Leslie Lanne of JLL will handle leasing.

July 26, 2019

Acquisitions Industrial New Jersey Northeast

Partnership Sells 529,000 SF Industrial Property in Montville, New Jersey

by Alex Patton July 26, 2019

MONTVILLE, N.J. — A partnership between two New Jersey-based firms, Camber Real Estate Partners and Advance Realty Investors, has sold 19 Chapin Road, a 529,000-square-foot industrial property in Montville, located in the northern part of the Garden State. The four-building property is equipped with a total of 88 loading positions, including 76 dock-high doors, 12 drive-in doors and clear heights ranging from 20 to 22 feet. A variety of industrial and shipping tenants occupy 93.7 percent of the property. Jose Cruz, Marc Duval and Jordan Avanzato of JLL represented the seller in the transaction. A partnership between Cohen Asset Management Inc. and Intercontinental Real Estate Corp. purchased the property for an undisclosed price.

July 26, 2019

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