Industrial

NEWNAN, GA. — CRG, in partnership with Pope & Land Enterprises Inc., has unveiled plans to develop The Cubes at Bridgeport, a 560-acre industrial project located along the Interstate 85 South Corridor in Newnan. At full build-out, the park will include 8.5 million square feet of industrial space. The development is located near both CSX and Norfolk Southern railroads, roughly 30 miles from Hartsfield-Jackson Atlanta International Airport and approximately five miles from Newnan-Coweta County Airport. The first phase of the development will include a 1 million-square-foot speculative building with 40-foot clear heights, trailer storage and car parks. The building will be capable of handling warehousing, e-commerce and manufacturing tenants. Phase I will also include infrastructure improvements such as ramp upgrades, a new signalized intersection on Highway 29 and a public parkway and overpass above the CSX main line. Other planned infrastructural improvements include water lines, two miles of new sanitary sewer and electric utility improvements. Clayco is the design-builder for the project and its subsidiary, BatesForum, is the architect. Developers expect to wrap up construction on the first building at the project in December 2018. Chris Tomasulo and Steve Grable of JLL are handling The Cubes’ leasing assignment.

FacebookTwitterLinkedinEmail
Skyway-Business-Center-Irving-Texas

IRVING, TEXAS—Investment and management firm Hartman Income REIT has sold Skyway Business Center, a 66,504-square-foot industrial asset located near Dallas-Fort Worth (DFW) International Airport in Irving. Built in 1981 and acquired by Hartman Income REIT in 2008, the property was roughly 73 percent leased at the time of sale. The buyer was Dallas-based Dalfen America Corp.

FacebookTwitterLinkedinEmail
All-Preferred-Mini-Storage-Redding-CA

REDDING, CALIF. — Loeffler Self-Storage Group has arranged the sale of All-Preferred Mini-Storage, a self-storage facility located in Redding. The Raudman Family sold the property to a local investor for $4.5 million, or $57.62 per square foot. Situated on 3.9 acres, the 78,095-square-foot facility features 530 storage units and a cellular antenna. The property comprises 13 single-story buildings with asphalt drive aisles, plus a manager’s office and residence. Bobby Loeffler and Tyler Skelly of Loeffler Self-Storage Group represented the seller and buyer in the transaction.

FacebookTwitterLinkedinEmail

SPARTANBURG, S.C. — Red Rock Developments will soon break ground on the first phase at Smith Farms Industrial Park in Spartanburg County. The Columbia, S.C.-based developer first unveiled plans for the 5.9 million-square-foot project, located at the intersection of Highway 101 and Reidville Road, in March. Phase I will include two speculative buildings totaling 610,000 square feet. Building I will be a 400,000-square-foot, cross-dock facility that will suit the needs of warehouse/distribution users. The second building will be a rear-load facility totaling 210,000 square feet. The building will be suited for non-distribution or smaller tenants, according to Red Rock. Smith Farms is located roughly three miles from Interstate 85, providing access to BMW’s Spartanburg plant, Greenville-Spartanburg International Airport and the Greer Inland Port. Red Rock expects to wrap up construction on the first two buildings in the second quarter of 2019. NAI Earle Furman is handling the project’s leasing assignment.

FacebookTwitterLinkedinEmail

HODGKINS, ILL. — Midwest Industrial Funds has purchased a 600,000-square-foot, two-building industrial complex in Hodgkins, about 17 miles southwest of Chicago, for more than $17 million. The company plans to renovate and reposition both buildings at a total cost of $15 million. Midwest Industrial plans to tear down part of the building at 6600 River Road in order to modernize the property with 45 additional exterior docks, new glass façade, new office space, a new roof and HVAC. Once renovated, the 408,000-square-foot building will be named Hodgkins Center of Commerce and feature 62 dock doors, onsite trailer parking and a clear height of 26 feet. The smaller property at 6620 River Road will remain 110,000 square feet and undergo an exterior renovation. Walter Murphy of Lee & Associates represented the undisclosed seller. Steve Roth of CBRE secured construction financing for the project. Harris Architects will provide architectural services and Spaceco is the civil engineer.

FacebookTwitterLinkedinEmail

LIBERTYVILLE, ILL. — Amerco Real Estate Co. has purchased two industrial buildings in Libertyville, about 40 miles northwest of Chicago. The purchase price was not disclosed. Amerco is the parent company of U-Haul and provides real estate and development services to U-Haul. The company purchased a 48,439-square-foot building at 14045 Rockland Road as well as a 12,000-square-foot building located next door. Both properties will serve as storage and truck rentals for U-Haul. Brian Bocci of Entre Commercial Realty represented the buyer in both transactions. John Hauser of Avison & Young represented the undisclosed seller of the larger building. The second building was not officially on the market, but JLL represented its seller.

FacebookTwitterLinkedinEmail
Wismer-Distributing-Mont-Belvieu-Texas

MONT BELVIEU, TEXAS — E.E. Reed Construction has completed a 130,000-square-foot distribution center for Wismer Distributing, which specializes in the delivery of alcoholic beverages, in Mont Belvieu, about 30 miles east of Houston. The property consists of 100,000 square feet of warehouse/distribution space and 30,000 square feet of office space. E.E. Reed worked in conjunction with Houston-based Tramonte + Johnson on the design/build project.

FacebookTwitterLinkedinEmail

HOUSTON — Wilson Investment Properties, a Silicon Valley-based investment firm, has acquired a portfolio of 19 industrial properties totaling approximately 460,000 square feet in northwest Houston. The properties are situated within six different industrial parks and are leased to a total of 103 tenants, including users in the manufacturing and fabrication services. The seller was not disclosed.

FacebookTwitterLinkedinEmail

CHICAGO — Meridian Design Build has completed construction of a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The new facility is located on the north bank of the Chicago River at 2639 S. Damen Ave. The property features a clear height of 36 feet, LED lighting, a fully air-conditioned sales floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Banner Wholesale Grocers has been servicing independent grocers since 1926. Schmidt Design Inc. provided architectural services while Kimley-Horn performed civil engineering work. Baker Development Corp. was the developer.

FacebookTwitterLinkedinEmail

BENSENVILLE, ILL. — Lee & Associates has negotiated the $5 million sale of a 73,594-square-foot industrial building in Bensenville, about 20 miles northwest of Chicago. The multi-tenant property is located at 100-300 Devon Ave. At the time of sale, the property was 97 percent leased to 16 tenants. Jay Farnam and Terry Grapenthin of Lee & Associates represented the seller, VJW Investments LLC. A private buyer purchased the asset.

FacebookTwitterLinkedinEmail