Industrial

Opus Completes 122,400 SF Speculative Industrial Development Near Minneapolis, Signs First Tenant

by Kristin Harlow March 15, 2017

SHAKOPEE, MINN. — The Opus Group has completed the third phase of development at Valley Park Business Center in Shakopee, southwest of Minneapolis. The 122,400-square-foot building is the final phase of Opus’ development at the 50-acre site. Minnesota-based Fountain Industries, a manufacturer of cleaning equipment and systems, will be the first tenant, leasing approximately 48,000 square feet. The building features 28-foot clear heights, 193 parking stalls, 24 dock doors and six drive-in doors. Previous phases of development at the park include the completion of a 200,000-square-foot speculative development and a 216,000-square-foot build-to-suit warehouse for Amerisource Bergen.

March 15, 2017

Industrial Midwest Missouri

Sealy & Co. Acquires 926,287 SF Industrial Portfolio in St. Louis

by Kristin Harlow March 15, 2017

ST. LOUIS — Sealy & Co. has acquired a Class A industrial portfolio totaling 926,287 square feet in the Earth City submarket of St. Louis. The acquisition was made on behalf of Sealy Strategic Equity Partners. All three buildings are located in a master planned business park near I-70 and I-270. The portfolio is 94 percent leased to eight tenants.

March 15, 2017

Illinois Industrial Midwest

Apollo Flow Controls Signs 226,102 SF Industrial Lease in Romeoville, Illinois

by Kristin Harlow March 15, 2017

ROMEOVILLE, ILL. — Apollo Flow Controls has signed a 226,102-square-foot industrial lease in Romeoville, 26 miles southwest of Chicago. The producer of flow control products will occupy the space at 1881 Normantown Road. The building, developed by Molto Properties in 2015, features 32-foot clear heights, two drive-in doors, 35 docks and parking for 200 cars and 39 trailers. Britt Casey, Chris Lydon and Al Caruana of Cushman & Wakefield represented Apollo in the long-term lease transaction, while Jim Estus of Colliers International represented Molto. Meridian Design Group was responsible for tenant improvements.

March 15, 2017

Industrial New Jersey Northeast

Asbury Park Brewery Purchases Former Warehouse in Asbury Park, N.J.

by Haisten Willis March 15, 2017

ASBURY PARK, N.J. — Asbury Park Brewery has purchased a 28,369-square-foot former warehouse located at 810 Sewall Ave. in Asbury Park. Glenn Jaffe of Sheldon Gross Realty represented the seller, Flexcraft Co. Asbury Park Brewery initially signed on to lease the property, then decided to purchase it during the lease term. A Family Dollar store also occupies a portion of the property.

March 15, 2017

Industrial Texas

Dallas Builders Select Bob Moore Construction to Build 800,000 SF Distribution Center in Garland, Texas

by Taylor Williams March 14, 2017

GARLAND, TEXAS — Dallas-based developers Eric Langford and Brian Flaherty have appointed Arlington-based general contractor Bob Moore Construction to build Jupiter Miller Business Center, a two-building industrial distribution center located on Jupiter Road in the northeast Dallas suburb of Garland. The industrial development will cover 40 acres of the 70-acre property, which was previously occupied by defense contractor and weapons manufacturer Raytheon. Delivery of the center, which will span 800,000 square feet, is scheduled for 2018.

March 14, 2017

Industrial Office Texas

Bradford Commercial Secures Sport Supplier’s Headquarters in Grand Prairie

by Taylor Williams March 14, 2017

GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has secured a new office hub and industrial distribution center for FloorballPlanet, a supplier of equipment and accessories for floorball, an indoor sport similar to field hockey, in Grand Prairie, a city in the Dallas-Fort Worth metroplex. The company has selected Woodlands Business Center, located at 2005 108th St., as its operating base and has leased 12,818 square feet, including 3,700 square feet for office space. Michael Spain, Brock Wilson and Joe Santaularia of Bradford Commercial represented the landlord, Woodlands Business Center LLC, in the transaction. Bob Gibbons of REATA Commercial Realty LLC represented FloorballPlanet.

March 14, 2017

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Rents, Occupancy Rise for Triangle’s Industrial Market as Supply Lags Demand

by John Nelson March 13, 2017

The Raleigh-Durham business climate has been on the climb for several years now and it doesn’t seem to be slowing anytime soon. The market continues to outpace most of the mid-tier markets across the country by all metrics of economic stability, quality of life, business environment, education, arts and quality of workforce. As a result, construction of office and retail projects has been strong, yet industrial construction and thus available space is lacking. Average asking rental rates have continued to rise in response to increasing demand and low supply. The remaining 550,000 square feet of industrial space that is expected to deliver has significant prelease commitments, creating competition for tenants looking for space. Raleigh-Durham’s warehouse market sits at a current vacancy of 3.8 percent with average asking rental rates at $5.01 per square foot triple net. The biggest challenge is for new and expanding tenants needing 35,000 to 200,000 square feet of space. Demand has been outpacing supply for several years in the market and industrial developers who recognized this trend were unable to fill the need because of the lack of available financing during the downturn. It has just been in the past 24 months that significant construction has …

March 13, 2017

Industrial New Jersey Northeast

J.G. Petrucci Co. Acquires 18-Acre Industrial Site in Branchburg, N.J.

by Haisten Willis March 10, 2017

BRANCHBURG, N.J. — J.G.Petrucci Co. has acquired an 18.4-acre site on Meister Avenue in Branchburg. The company plans to develop a 187,500-square-foot speculative industrial facility on the site, which will be available for lease in spring 2018. Joel Lubin of Jones Lang LaSalle’s Iselin, N.J., office represented J.G. Petrucci Co. in the transaction, and will also serve as leasing agent for the property. The facility will be constructed using precast concrete. Once completed, it will feature 31 loading docks, two drive-in doors and 36-foot clear ceiling heights. Parking for 134 cars and 16 trailers will be available on site as well.

March 10, 2017

Connecticut Industrial Northeast

Angel Commercial Arranges Sale of Three Industrial Properties in Bridgeport, Conn.

by Haisten Willis March 10, 2017

BRIDGEPORT, CONN. — Jon Angel of Angel Commercial LLC has arranged the sale of three adjoining industrial properties located at 785 and 800 Union Ave., and at 599 Hollister Ave. in Bridgeport. Angel represented both buyer and seller in the sale-leaseback transaction. Collectively, the buildings span nearly 250,000 square feet on 6.5 acres. The property includes multiple loading docks and 47-foot ceiling heights. An out-of-state investor, 800 Union LLC, purchased the properties from Moore Tool Co., who will remain as the tenant.

March 10, 2017

Florida Industrial Southeast

Liberty Property Trust to Develop Build-to-Suit Industrial Facility in Orlando for STIHL Southeast

by John Nelson March 10, 2017

ORLANDO, FLA. — Liberty Property Trust plans to develop a build-to-suit industrial facility in Orlando on behalf of STIHL Southeast, an exclusive distributor of STIHL outdoor power equipment for Florida, Georgia, Alabama and portions of the Caribbean. The new 154,400-square-foot facility will be situated on 13 acres within Liberty Park at AIPO on Tradeport Drive. The long-term lease includes 20,000 square feet of office space, 25,000 square feet of climate controlled assembly space and the balance will be for warehouse and distribution. The property will feature 32-foot clear heights, a 60-foot speed bay and more than 25 dock-high and drive-in doors. The STIHL Southeast facility is the seventh property that Liberty Property Trust has developed in the park, which totals 1.7 million square feet. The design team includes architect C4 Architecture and general contractor Kelsey Construction. Stephen Whitley of Whitley Capital LLC represented STIHL Southeast in the lease deal, and John Johnston represented Liberty Property Trust internally.

March 10, 2017

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