Industrial

Pharr-Reynosa-International-Bridge-Pharr-Texas

Private Developer Begins Work on 330,000 SF Industrial Park in Pharr, Texas

by Taylor Williams April 9, 2018

PHARR, TEXAS — Private developer and investor Carlos Canales has begun work on Pharr Bridge Business Park, a 330,000-square-foot warehousing development located near the Pharr-Reynosa International Bridge in the Rio Grande Valley (RGV) metro of Pharr. The property will include three 100,000-square-foot facilities and one 30,000-square-foot facility, all of which will be designed as build-to-suits for firms specializing in storage of dry and frozen goods, according to local newspaper Rio Grande Guardian. Local media sources also report that the project is expected to create about 130 new jobs, and that Canales has provided about $25 million in development financing while the Pharr Economic Development Corp. has provided about $1.3 million.

April 9, 2018

Development Illinois Industrial Midwest

Principle Completes Industrial Tenant Improvements for Magick Woods in Aurora, Illinois

by Kristin Harlow April 9, 2018

AURORA, ILL. — Principle Construction Corp. has completed tenant improvements for Magick Woods in Aurora, located about 40 miles west of Chicago. The manufacturer and distributor of bathroom vanities, sinks and vessels occupies a 375,000-square-foot industrial space at 1600 Sequoia Drive. Improvements included the addition of a new 3,501-square-foot office space, a 94,276-square-foot racking area, a 7,800-square-foot assembly area, 58 trailer storage spaces, battery charging stations and LED lighting. Magick Woods also plans to expand its warehouse into the remaining 161,301 square feet of the building. Seefried Properties and LIT Industrial Limited Partnership own the building, which Principle constructed in 2016. Darrin Dehmlow and Tom Sterbenz of Principle oversaw the project. Harris Architects provided design services.

April 9, 2018

Acquisitions Illinois Industrial Midwest

NKF Negotiates Sale of 186,000 SF Industrial Facility in Bartlett, Illinois

by Kristin Harlow April 9, 2018

BARTLETT, ILL. — Newmark Knight Frank (NKF) has negotiated the sale of a 186,000-square-foot industrial facility in Bartlett for an undisclosed price. The speculative building is located at 1365-1395 Brewster Creek Blvd. within the Brewster Creek Business Park. The property features a clear height of 32 feet, 35 exterior docks, two grade-level doors and parking for 224 cars. Adam Marshall of NKF represented the seller and developer, Ridge Development. Elise Couston and Mark Deady of NKF represented the buyer, Barings Real Estate, which was acting on behalf of an institutional investor.

April 9, 2018

Development Industrial Midwest Minnesota Self-Storage

StorageMart Opens 544-Unit Self-Storage Facility in Chaska, Minnesota

by Kristin Harlow April 9, 2018

CHASKA, MINN. — StorageMart has opened a self-storage facility in the Minneapolis suburb of Chaska. The property contains 544 units and more than 89,000 square feet of rentable space. A variety of storage options include climate-controlled units and drive-through loading bays. Based in Columbia, Mo., StorageMart is privately owned and family operated.

April 9, 2018

Industrial Market Reports Property Type Southeast Southeast Market Reports Tennessee

Memphis Industrial Market Closes Out 2017 With Strong Wave of Absorption

by John Nelson April 9, 2018

The positive momentum for the Memphis industrial market continues. For the previous three years, the market has had positive absorption every quarter. This momentum continued through 2017, where we saw an annual net gain of 6.6 million square feet of positive absorption. Memphis has not seen this type of multi-year, record-breaking performance since the early 2000s. Achieving year-over-year absorption volume at this level proves Memphis can continue to attract both new developers and investors. Given ideal geographical positioning, Memphis is known as America’s Distribution Center, boasting unparalleled expertise in distribution and logistics. The Memphis International Airport houses the second-busiest cargo airport in the world. Companies recognize that the Memphis MSA offers reliable, cost-effective distribution, with the ability to reach 70 percent of the U.S. population within 24 hours. Moreover, Memphis is one of only three cities with five Class I Rail Systems, and has the fifth-largest inland port, as well as 10 major trucking companies utilizing Interstates 40 and 55. It’s no wonder that FedEx World Hub makes Memphis its home, and UPS chose it to house a major hub. Southeast Submarket The Memphis market continues to see nearly all of its growth to the southeast into Fayette County, Tennessee, …

April 9, 2018

Enterprise-Industrial-Park-Schertz-Texas

Acquisitions Industrial Texas

Colony Industrial Acquires 639,797 SF Industrial Park in Metro San Antonio

by Taylor Williams April 6, 2018

SCHERTZ, TEXAS — Colony Industrial, a division of Los Angeles-based REIT Colony Northstar, has acquired Enterprise Industrial Park, a 639,797-square-foot property located at 17745 Lookout Road in Schertz, a northeastern suburb of San Antonio. Developed by Atlanta-based Robinson Weeks Partners, the two-building complex was 88 percent leased at the time of sale to nine tenants with a weighted average of 5.3 years remaining on their leases. Space is available at Building II, which features a cross-dock configuration with 32-foot clear heights, 73 trailer spaces, an ESFR sprinkler system and an office finish. Randy Baird, Jonathan Bryan and Ryan Thornton of CBRE brokered the sale. The Dallas Business Journal reports that the sale price was $52.1 million.

April 6, 2018

Acquisitions Industrial Lee & Associates Midwest Missouri

Lee & Associates Negotiates Sale of 672,000 SF Industrial Property in St. Louis

by Kristin Harlow April 6, 2018

ST. LOUIS — Lee & Associates has negotiated the sale of a 672,000-square-foot industrial property in St. Louis for an undisclosed price. The multi-tenant building is located at 4327 Gustine Ave. Herb Feldmann of Lee & Associates represented the buyer, SOA Gustine LLC. Will Mura of CBRE represented the seller, Gustine Avenue LLC.

April 6, 2018

Acquisitions Industrial Midwest Wisconsin

Dickman/CORFAC International Brokers Sale of 49,802 SF Industrial Building in Milwaukee

by Kristin Harlow April 6, 2018

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 49,802-square-foot industrial building in Milwaukee for an undisclosed price. The property is located at 8220 W. Sleske Court. Roger Siegel of Dickman represented the seller, Mortara Instrument LLC. Jeff Hoffman of Cushman & Wakefield/Boerke represented the buyer, HMLJ Industries LLC.

April 6, 2018

Florida Industrial Leasing Activity Property Type Southeast

State Street Realty Secures 109,075 SF Industrial Lease with Swiss Logistics Company in South Florida

by Camren Skelton April 6, 2018

HIALEAH GARDENS, FLA. — State Street Realty has arranged a 109,075-square-foot lease with Kuehne + Nagel Inc. at the three-building Miami Industrial Logistics Center (MILC) in Hialeah Gardens. The Switzerland-based global transport and logistics company will lease space at the 255,846-square-foot MILC Building 3, increasing the building’s occupancy from 40 percent to 80 percent. The building features build-to-suit offices, a 120-foot truck court, 32-foot clear heights, four overhead doors per bay, 54-foot column spacing, a 60-foot staging bay, ESFR sprinkler system, fire safety system and LED lighting. Frank Trelles and Brian Cabielles of State Street Realty arranged the lease on behalf of the landlord, Duke Realty. Dan Rose of Real Estate Advisory Partners and David Albert of CBRE represented Kuehne + Nagel.

April 6, 2018

Development Industrial North Carolina Self-Storage Southeast

Public Storage Opens 900-Unit Self-Storage Facility in Metro Charlotte

by Camren Skelton April 6, 2018

HUNTERSVILLE, N.C. — Public Storage has opened a 900-unit self-storage facility at 10219 Bryton Corporate Center Drive in Huntersville, roughly 15 miles north of Charlotte. The facility is located adjacent to a Walmart Supercenter and Interstate 485. The three-story building offers indoor, climate-controlled units ranging in size from 25 square feet to 300 square feet. Packing, moving and storage supplies are also offered at the location. Glendale, Calif.-based Public Storage is the world’s largest owner and operator of self-storage facilities with 2,386 locations around the country.

April 6, 2018

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