Industrial

Cushman & Wakefield Negotiates Sale of 616,992 SF Industrial Facility in Teterboro, New Jersey

by David Cohen August 21, 2018

TETERBORO, N.J. — Cushman & Wakefield has arranged the sale of a 616,992-square-foot industrial building in Teterboro. Goodman acquired the property for an undisclosed price. Situated on 27 acres, the building is climate controlled, has clear heights of up to 32 feet and includes cross-docking. Gary Gabriel, Adam Spies, Andrew Merin, David Bernhaut, Marcella Fasulo, Kyle Schmidt, and Ryan Larkin of Cushman & Wakefield represented the undisclosed seller in the transaction. At the time of sale, the building was fully net leased to an investment-grade tenant.

August 21, 2018

California Development Industrial Western

Shea Properties Begins Construction of 500,000 SF Industrial Park in Santa Ana

by Amy Works August 21, 2018

SANTA ANA, CALIF. — Shea Properties has started construction of Shea Business Center, an industrial park located on a former ITT site on Dyer Road in Santa Ana. Consisting of nine buildings, the development will feature a total of 500,000 square feet of Class A industrial space. Completion is slated for October 2019. The buildings will feature dock-high and ground-level loading doors, ESFR sprinklers, concrete truck courts, gas service to all buildings, potential private yards, ample power and 28-foot to 30-foot clear heights. Additionally, the site will feature drought-tolerant landscaping, bicycle racks, and enhanced outdoor patio areas, benches and pathways, as well as power for electric vehicles. John Griffin and Max Wang of Cushman & Wakefield are handling leasing for the project.

August 21, 2018

Acquisitions California Industrial Western

DAUM Commercial Brokers Sales of Nine Industrial Assets in Central Los Angeles for $18.5M

by Amy Works August 21, 2018

LOS ANGELES — DAUM Commercial Real Estate Services has brokered the sales of nine adjacent industrial properties totaling more than 145,000 square feet in Central Los Angeles. A private investor sold the properties to three separate buyers — an owner-user and two private investors — for a total of approximately $18.5 million. James Vu, Michael Collins and Ben Spinner of DAUM represented the seller in the transactions. Originally constructed in the 1950s and 1960s, the properties feature major street exposure, separate legal parcels with ample parking, and dock-high and grade-level parking. At the time of sale, the properties were 100 percent leased. The investment properties are located at 1177 E. 58th Drive, 1213-1217 E. 58th Drive, 1206 E. Slauson Ave., 1223 E. 58th Place, 1237 E. 58th Place, 1247 E. 58th Place, 1253 E. 58th Place, 1168-1202 E. 58th Place and 1206-1212-1220-1226 and 1232 E. 58th Place.

August 21, 2018

Industrial Leasing Activity Texas

Conn’s HomePlus Signs 656,658 SF Lease for Houston Distribution Center

by Taylor Williams August 20, 2018

HOUSTON — Home furnishings and appliances retailer Conn’s HomePlus has signed a 656,658-square-foot lease to be the sole occupant of Central Green Distribution Center in north Houston. Liberty Property Trust is the owner of the center, which is situated on 36 acres near George Bush Intercontinental Airport. Building features include 36-foot clear heights, 133 dock doors and a 500-foot building depth. Rob Stillwell and Chris Malherbe of NKF Capital Markets represented Conn’s in the lease negotiations. Conn’s is based in The Woodlands, a master-planned community located north of Houston.

August 20, 2018

Development Industrial Self-Storage Texas

TJO to Develop 1,090-Unit Self-Storage Property in Austin

by Taylor Williams August 20, 2018

AUSTIN, TEXAS — The Jenkins Organization (TJO), a Houston-based developer and manager of self-storage properties, has purchased land in southeast Austin for the development of a 1,090-unit facility. Branded Bergstrom Storage, the Class A property will total 238,000 square feet and provide climate-controlled space, as well as storage space for boats and RVs. The facility, which will be located near the airport, is currently slated to open in November 2019.

August 20, 2018

Jupiter-Miller-Business-Park-Garland-Texas

Industrial Leasing Activity Texas

Window Manufacturer to Open 329,000 SF Industrial Facility in Metro Dallas

by Taylor Williams August 20, 2018

GARLAND, TEXAS — Quest USA Inc., an affiliate of Canadian window producer Quest Window Systems, will open a 329,000-square-foot manufacturing and distribution facility in Garland, a northeastern suburb of Dallas. The facility will be located within Jupiter Miller Business Park, an 800,000-square-foot project at the site of the former Raytheon campus. The move is expected to create more than 320 new jobs. The date by which the facility is expected to be operational was not disclosed.

August 20, 2018

Acquisitions Industrial South Carolina Southeast

Monmouth Acquires FedEx-Leased Industrial Building in Charleston for $47.2M

by Camren Skelton August 20, 2018

CHARLESTON, S.C. — Monmouth Real Estate Investment Corp. has acquired a 265,318-square-foot industrial building located at 6850 Weber Blvd. N. in Charleston for $47.2 million. The name of the seller was not disclosed, but the Post & Courier reports an affiliate of SunCap Property Group completed construction on the warehouse building earlier this year. The property is net-leased for 15 years to FedEx Ground Packaging System Inc. The building is located roughly 18 miles northwest of the Port of Charleston, and less than 10 miles from Charleston International Airport. The transaction marks Monmouth’s fourth acquisition in the Charleston market.

August 20, 2018

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of 401,223 SF Industrial Portfolio in Indianapolis

by Kristin Harlow August 20, 2018

INDIANAPOLIS — Colliers International has brokered the sale of six industrial buildings at Northeast Business Center in Indianapolis for an undisclosed price. The 401,223-square-foot portfolio is located in the Northeast industrial submarket between the 86th Street and 96th Street interchanges. Alex Cantu of Colliers represented the buyer, Sealy & Co. The seller, Citimark, developed the business center in the 1980s and has managed the portfolio since.

August 20, 2018

Development Industrial Texas

Davis Breaks Ground on 400,400 SF Industrial Development in San Antonio

by Taylor Williams August 17, 2018

SAN ANTONIO — Houston-based Davis Commercial Development has broken ground on Logistics Commerce Center, a 400,400-square-foot industrial development that will be located within Cornerstone Industrial Park in San Antonio. The two-building, Class A property is being developed on a speculative basis. The groundbreaking was held on Thursday and delivery is slated for the first quarter of 2019. The two buildings, which will measure 260,000 and 140,400 square feet, will both feature 32-foot clear heights, ESFR sprinkler systems and ample trailer parking. Rob Burlingame and Josh Aguilar of CBRE represented Davis Commercial in the purchase of the land and will continue to market and lease the property.

August 17, 2018

Industrial Leasing Activity Texas

JLL Negotiates 210,850 SF Industrial Lease Renewal in Houston

by Taylor Williams August 17, 2018

HOUSTON — JLL has negotiated a 210,850-square-foot industrial lease renewal within Railwood Industrial Park in northeast Houston on behalf of Global Stainless Supply, a Houston-based provider of stainless steel pipes, flanges and fittings. The company’s Class A space features 28-foot clear heights, 24 dock-high doors and 8,000 square feet of office space. Ryan Fuselier and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Kelly Landwermeyer of Holt Lunsford Commercial represented the landlord, CenterPoint Properties.

August 17, 2018

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