Industrial

Meridian Completes 400,112 SF Headquarters Project for RIM Logistics in Bartlett, Illinois

by Kristin Harlow May 1, 2025

BARTLETT, ILL. — Meridian Design Build has completed a 400,112-square-foot corporate headquarters development for RIM Logistics Ltd. in the Chicago suburb of Bartlett. The project involved the renovation of a recently constructed, speculative industrial building that RIM acquired in early 2024. Dan Smolensky of TMG Real Estate Advisors assisted RIM in the acquisition. Michael Androwich Jr., John Cassidy and Chris Nelson of Lee & Associates represented the seller, Midwest Industrial Funds. Meridian collaborated with RIM, CBRE/Turner & Townsend, Heitman Architects, V3 Cos. and the Village of Bartlett to take the project from concept to completion in less than 12 months. The multi-phase project involved enhancements to the building façade and construction of a second floor to support roughly 40,000 square feet of office space. Employee amenities include a café, fresh market, bike storage room and fitness center. The building is adjacent to a naturalized wetland area. Reclaimed cargo containers and a salvaged semi-trailer were utilized to create unique architectural accents. Electric vehicle charging stations, lighting controls and other sustainable design elements helped RIM achieve its goal of LEED certification. Warehouse improvements included accommodations for storage mezzanines, automatic storage and retrieval systems, narrow aisle racking and hazardous materials/aerosol storage areas. The …

May 1, 2025

Acquisitions Illinois Industrial Midwest

DarwinPW Realty/CORFAC International Brokers Sale of 40,048 SF Industrial Building in Metro Chicago

by Kristin Harlow May 1, 2025

ELMHURST, ILL. — DarwinPW Realty/CORFAC International has brokered the sale of a 40,048-square-foot industrial building located at 185 Industrial Drive in the Chicago suburb of Elmhurst. Built in 1975, the property features a clear height of 18 feet, 6,418 square feet of second-story office space, five exterior docks, two drive-in doors and an existing distribution infrastructure. The parking lot has space for 42 cars as well as an electric truck and van charging station. George Cibula and Luke Ferzacca of DarwinPW represented the buyer, 3 Flat LLC. DarwinPW is also marketing the building for lease. The seller was represented by its in-house attorney.

May 1, 2025

Acquisitions Arizona Industrial Western

ATLAS Capital Sells Infill Parcel to City of Phoenix for $29.6M

by Amy Works April 30, 2025

PHOENIX — Scottsdale, Ariz.-based ATLAS Capital Partners has completed the disposition of an infill parcel to the City of Phoenix for $29.6 million. The city has earmarked the land for revitalization as part of its regional Rio Reimagined initiative and the RIO PHX plan, which will promote 20 miles along the Rio Salado/Salt River corridor as a local and regional destination. Located at 3030 S. 7th St., the 29.4-acre site is currently occupied by a 42,469-square-foot industrial building with tenancy through 2028. The site is situated within an Opportunity Zone, less than two miles from Sky Harbor International Airport, minutes from downtown Phoenix and interstates 10 and 17. ATLAS partnered with OakPoint Real Estate, a vertically integrated real estate investment firm, on the transaction. Will Strong, Phil Haenel and Foster Bundy of Cushman & Wakefield’s Capital Markets Group represented ATLAS in the deal.

April 30, 2025

Acquisitions California Industrial Western

Voit Real Estate Services Brokers $13.2M Sale of Industrial Building in Santa Ana, California

by Amy Works April 30, 2025

SANTA ANA, CALIF. — Voit Real Estate Services has arranged the sale of an industrial building located at 2249 S. Yale St. in Santa Ana. Stage Stop 8 LLC sold the asset to Daytona Holding LLC, a locally owned manufacturing company, for $13.2 million. The buyer will use the 49,506-square-foot property as an auxiliary facility for its Southern California operations. Michael Hefner and Mike Vernick of Voit Real Estate Services represented the seller and buyer in the transaction.

April 30, 2025

Acquisitions Industrial Washington Western

Colliers Negotiates $8.3M Sale of Industrial Property in Everett, Washington

by Amy Works April 30, 2025

EVERETT, WASH. — Colliers has arranged the sale of an industrial facility located at 815 Sievers-Duecy Blvd. in Everett. Underwood Gartland 64 LLC sold the property to a privately held family business, which is one of the largest HVAC operators on the West Coast, for $8.3 million. Totaling 26,666 square feet, the property offers a clear height of 24 feet, 24,070 square feet of warehouse space, 2,596 square feet of office space, ESFR sprinklers, 600 amps of 3-phase power and dock-high and drive-in loading.

April 30, 2025

Development Industrial Midwest Minnesota

PCCP, Endeavor Begin Third Phase of Development at Arbor Lakes Business Park in Minnesota

by Kristin Harlow April 30, 2025

MAPLE GROVE, MINN. — A joint venture between PCCP LLC and Endeavor Development has begun the third phase of development at Arbor Lakes Business Park in the Twin Cities suburb of Maple Grove. The partnership has developed two prior phases totaling four buildings and 849,138 square feet. The third phase encompasses a 197,964-square-foot industrial project on 12.5 acres. Completion is slated for 2026. The building will feature a clear height of 32 feet, 3,000 amps of power, 18 dock doors, two grade-level doors and a 120-foot truck court. Arbor Lakes Business Park is located at the intersection of I-94 and I-694.

April 30, 2025

Development Illinois Industrial Midwest

Panattoni Breaks Ground on 430,141 SF Lincolnshire Industrial Center in Suburban Chicago

by Kristin Harlow April 30, 2025

LINCOLNSHIRE, ILL. — Panattoni Development Co. has broken ground on Lincolnshire Industrial Center in South Lake County. The project will include two facilities totaling 430,141 square feet. Building 1 will span 228,459 square feet on 14 acres, while Building 2 will total 201,682 square feet on 12 acres. Both will feature a clear height of 32 feet. Brett Kroner, Eric Fischer, Keith Puritz and Marc Samuels of Cushman & Wakefield are marketing the project for lease.

April 30, 2025

Illinois Industrial Leasing Activity Midwest

Aerospace Company Signs 36,149 SF Industrial Lease in Libertyville, Illinois

by Kristin Harlow April 30, 2025

LIBERTYVILLE, ILL. — A Fortune 100 aerospace company has signed a 36,149-square-foot industrial lease at Libertyville 45 Corporate Center in the Chicago suburb of Libertyville. The development features two buildings totaling 334,299 square feet. The project includes 4,449 square feet of speculative office space, 48 docks, a clear height of 32 feet and above-standard parking counts. Keith Puritz, Marc Samuels, Brett Kroner and Eric Fischer of Cushman & Wakefield represented ownership, Oak Brook, Ill.-based MWI Property Group. The tenant is the first to lease space at the speculative development, which was completed this year.

April 30, 2025

Delaware Development Industrial Life Sciences Northeast Top Stories

Merck Breaks Ground on $1B Pharmaceutical Manufacturing Facility in Wilmington, Delaware

by Kristin Harlow April 30, 2025

WILMINGTON, DEL. — Biopharmaceutical giant Merck (NYSE: MRK) has broken ground on a $1 billion pharmaceutical manufacturing facility in Wilmington, about 30 miles southwest of Philadelphia. Known as Merck Wilmington Biotech, the 470,000-square-foot project will comprise laboratory, manufacturing and warehouse capabilities. Merck says the center will enable the launch and commercial production of next-generation biologics and therapies. Notably, the facility will be the Rahway, N.J.-based company’s first domestic site for producing cancer treatment drug Keytruda. Reuters reports that the Delaware plant is in effort to expand domestic production as Merck prepares to deal with President Trump’s tariffs. In its first-quarter financial results, Merck estimated that the impact of tariffs imposed so far would lead to additional costs of approximately $200 million for the company in general. Located within the 164-acre, 14-building Chestnut Run Innovation & Science Park (CRISP), the new facility will help foster growth in Wilmington’s biotechnology sector, creating more than 500 full-time roles and roughly 4,000 construction jobs. The laboratory component is expected to be fully operational by 2028, with production of experimental drugs anticipated to start by 2030. Pennsylvania-based developer MRA Groups owns CRISP, which is in the midst of a large-scale repositioning, and MRA Group is …

April 30, 2025

Industrial Leasing Activity Office Texas

One World Energy Signs 10,146 SF Lease at Industrial Flex Building in Grand Prairie, Texas

by Taylor Williams April 29, 2025

GRAND PRAIRIE, TEXAS — One World Energy LLC, a provider of renewable power solutions, has signed a 10,146-square-foot lease at Carrier Place, an industrial flex building located in the central metroplex city of Grand Prairie. According to LoopNet Inc., the building was completed in 1984 and totals 84,431 square feet. Jim Ferris of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Walker Floyd and Maddy Coffman of Holt Lunsford Commercial represented the landlord.

April 29, 2025

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