Industrial

HSM Arranges Sale of Two Industrial Assets Totaling 231,530 SF in Graham, Texas

by Taylor Williams June 1, 2018

GRAHAM, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of two industrial assets totaling 231,530 square feet in Graham, about 90 miles west of Fort Worth. Scott Axelrod of HSM represented Tampa-based packaging producer Jordan Industries in the purchase of a 125,810-square-foot building from Dallas-based Mercer Graham Properties LLC. Axelrod also represented a private investor in the sale of a 105,720-square-foot building to Traylor Investments Cliff LLC. The sales prices were not disclosed.

June 1, 2018

Acquisitions Industrial New York Northeast

Marcus & Millichap Brokers $6.6M Sale of Warehouse in West Side Manhattan

by David Cohen June 1, 2018

NEW YORK CITY — Marcus & Millichap has brokered the $6.6 million sale of 621 West 55th St., a two-story warehouse on the west side of Manhattan. John J. Stewart, James O’Leary and Nicholas Biedron of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. The 5,966-square-foot property measures 30 feet by 100 feet and is located less than a block from the West Side Highway.

June 1, 2018

Acquisitions Industrial Self-Storage Texas

LeClaire Group Brokers Sale of 353-Unit Self-Storage Facility in Houston

by Taylor Williams June 1, 2018

HOUSTON — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of Ammex Mini Storage, a 353-unit self-storage facility in Houston. The property totals 48,810 square feet and includes climate- and non-climate-controlled units. Dave Knobler and Charles LeClaire of The LeClaire Group represented the undisclosed seller in the transaction and procured the buyer, an out-of-state investment firm.

June 1, 2018

Florida Industrial Loans North Carolina Southeast Tennessee

HFF Arranges $67M Financing for Four-Building Industrial Portfolio in Southeast

by Camren Skelton June 1, 2018

DALLAS — Dallas-based HFF has arranged $67 million in post-acquisition financing for a four-building industrial portfolio located in metro Charlotte and Orlando, as well as Memphis. Kristian Lichtenfels, Eric Tupler and Rebecca VanReken of HFF arranged the nine-year, fixed-rate loan through an insurance company on behalf of the borrower, Dream Industrial US Holdings Inc., a subsidiary of Dream Industrial Real Estate Investment Trust, a Canadian REIT. The company acquired the assets n December 2017 and January 2018. The portfolio includes the 885,000-square-foot Delta Point at 5605 Holmescrest Land and the 500,000-square-foot Shelby V at 4770 Southpoint Drive, both in Memphis; a 471,744-square-foot facility located at 860 Marine Drive in Rock Hill, a South Carolina suburb of Charlotte; and a 193,133-square-foot building located at 7730 American Way in Groveland, Fla., roughly 30 miles west of Orlando. The portfolio is fully leased to a total of six tenants and features clear heights ranging from 25 to 32 feet, a total of 247 dock-high doors and 18 drive-in doors.

June 1, 2018

Acquisitions Industrial Nevada Western

MCA Realty Acquires Five-Building Industrial Property in Las Vegas

by Amy Works June 1, 2018

LAS VEGAS — MCA Realty has purchased a five-building industrial property located at 4610-4650 Arville St. in Las Vegas. A private seller sold the asset for an undisclosed price in an off-market transaction. The value-add asset features 83,750 square feet of industrial space. MCA Realty plans to replace the roofs, repaint the building’s exterior, improve the landscaping and signage, and update the interior units as leases end. At the time of sale the property was 100 percent occupied. Rob Lujan, Jason Simon and Xavier Wasiak of JLL represented the buyer in the deal.

June 1, 2018

Acquisitions Industrial Midwest Minnesota

CBRE Arranges $12.3M Sale of Industrial Property in Maple Grove, Minnesota

by Kristin Harlow June 1, 2018

MAPLE GROVE, MINN. — CBRE has arranged the sale of Five Star Commerce Center in Maple Grove, about 15 miles northwest of Minneapolis. The 163,012-square-foot industrial property is comprised of three buildings. Constructed in 1999, the property is fully occupied. Major tenants include Next Day Automation, Dance Complex, TruGreen and Brush Masters Inc. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, Interstate Partners. Sterling Office and Industrial Properties LLC, a North Dakota-based REIT, acquired the asset.

June 1, 2018

Industrial Market Reports Texas Texas Market Reports

Heightened Border Activity Drives Down Industrial Vacancy in Rio Grande Valley

by Taylor Williams June 1, 2018

The industrial market of the Rio Grande Valley (RGV) is off to a blistering start in 2018, thanks to a combination of increased commercial activity around the U.S.-Mexico border and renewed political and military interest in the region. We use the tri-city area of McAllen-Edinburg-Mission, now the fifth-largest MSA in Texas, as a yardstick for our regional analysis. According to CBRE, industrial vacancy in this market registered an all-time low of 3 percent during the first quarter. In addition, the market posted positive net absorption of approximately 79,000 square feet during the first quarter, a year-over-year increase of 24,000 square feet. Average asking rents for industrial space are also up 40 cents from the first quarter of 2017. Demand for industrial space in the RGV has always been a factor of the region’s proximity to Mexico. The Mexican border city of Reynosa absorbed more than 2 million square feet of industrial space in 2017. More than 1 million square feet of industrial product is under construction in Reynosa, and the pipeline includes everything from heavy manufacturing plants to rail-served distribution centers. This aspect of the RGV’s location has always played a pivotal role in generating demand for warehousing — for …

June 1, 2018

Development Industrial Texas

Coca-Cola Affiliate to Build $250M Bottling Plant in Houston

by Taylor Williams May 31, 2018

HOUSTON — Coca-Cola Southwest Beverages, a subsidiary of Mexico-based Coca-Cola bottling partner Arca Continental, will build a $250 million bottling plant in Houston. The facility, which will be the first new Coca-Cola bottling plant built in the United States in a decade, will total approximately 1 million square feet. Construction of the plant is slated to begin this year, with operations expected to commence in early 2020.

May 31, 2018

Development Industrial Midwest Ohio

Opus to Construct 612,730 SF Speculative Warehouse in Middletown, Ohio

by Kristin Harlow May 31, 2018

MIDDLETOWN, OHIO — The Opus Group has unveiled plans to construct a 612,730-square-foot, speculative warehouse in Middletown, about 38 miles north of Cincinnati. The property will feature a clear height of 36 feet, 40 dock doors, 79 trailer positions and 410 car parking spaces. Construction is expected to begin in June with completion slated for May 2019. Opus Development Co. is the developer and Opus Design Build is the design-builder. Opus AE Group is the architect of record and structural engineer. The project is a joint venture with Founders Properties LLC. Norm Khoury and John Gartner of Colliers International will market the property for lease.

May 31, 2018

Acquisitions Illinois Industrial Midwest

Exeter Property Group Acquires Two-Building Industrial Portfolio in Buffalo Grove, Illinois

by Kristin Harlow May 31, 2018

BUFFALO GROVE, ILL. — Exeter Property Group has acquired a two-building industrial portfolio in Buffalo Grove, a suburb of Chicago. The properties, spanning a combined 180,766 square feet, are located in Covington Corporate Center. One of the buildings, 951 Commerce Court, is a 95,810-square-foot property fully leased to Veritas Document Solutions. The other is an 84,956-square-foot building fully leased to five tenants, including Sears, Midwest Sealing Products and Perfect Power. Robin Stolberg, Kurt Sarbaugh and Sam Berry of HFF represented the undisclosed seller.

May 31, 2018

Newer Posts

Older Posts