Industrial

Badiee Development Starts Construction of Carlsbad Victory Industrial Park

by Nellie Day December 7, 2016

CARLSBAD, CALIF. — Badiee Development has broken ground on Carlsbad Victory Industrial Park in the San Diego submarket of Carlsbad. The park will be located at 3248 Lionshead Ave. The first phase is a 55,573-square-foot industrial building is slated for completion early next summer. Carlsbad Victory Industrial Park has been designed with a mix of office and warehouse space for two tenants with suites measuring 25,148 square feet and 30,425 square feet. The project will feature two upgraded tenant entries, dock-high and grade-level loading, 26-foot clear height, automatic fire suppression system, mezzanine space, skylights and a large outdoor patio area. Badiee has begun pre-leasing for Carlsbad Victory Industrial Park. Tucker Hohenstein and Mike Erwin of Colliers International is acting as the project’s leasing agents. The team also represented Badiee in the purchase of the land parcel for Carlsbad Victory Industrial Park in December 2015. Smith Consulting Architects is the architect and TFW Construction is the general contractor for Carlsbad Victory Industrial Park.

December 7, 2016

Illinois Industrial Midwest

Midwest Industrial Funds Acquires 158,000 SF Industrial Building in West Chicago

by Kristin Harlow December 7, 2016

WEST CHICAGO, ILL. — Midwest Industrial Funds has acquired a 158,000-square-foot industrial building located at 825-845 Hawthorne in West Chicago. The property features 22-foot clear heights and 12 loading docks. The property was 50 percent leased to three tenants at the time of closing. Midwest Industrial Funds has started major renovation work on the property including installation of a new architectural metal panel façade with an LED exterior lighting scheme, new windows, resurfacing the parking lot and landscaping enhancements. Michael J. Androwich Jr. of Lee & Associates represented the seller in the transaction and will be handling leasing on the available spaces for Midwest Industrial.

December 7, 2016

Florida Industrial Southeast

Transwestern Arranges 93,000 SF Industrial Lease for Clarion Partners in Metro Miami

by John Nelson December 7, 2016

DORAL, FLA. — Transwestern has arranged a 93,000-square-foot industrial lease at Westpointe Business Park, a 285,000-square-foot, Class A industrial park located at 8901 N.W. 33rd St. in Doral, a suburb of Miami. Thomas Kresse, Ben Eisenberg, Walter Byrd and Carlos Gaviria of Transwestern’s South Florida industrial team represented the landlord, New York-based Clarion Partners, in the lease deal. Clarion is acting on behalf of a commingled fund managed by the firm. Carlos Velasquez and Tommy Gil of Vivo Real Estate Group Inc. represented the tenant, Colour Republic, a flower distributor.

December 7, 2016

Industrial Office Texas

Gemini BP Buys 142,315 SF Office, Warehouse Park in Houston

by Amy Works December 7, 2016

HOUSTON — Gemini BP LP has acquired Gemini Business Park, an office and warehouse park located at 902-930 Gemini St. in Houston. Situated on 8.5 acres, the park comprises three building totaling 142,315 square feet of leasable space. The multi-tenant park features a combination of dock-high and ground-level loading. At the time of closing, the industrial park was 97 percent leased and has since been 100 percent leased. Fred Ghabriel of Bejjani & Associates represented the buyer, while Preston Yaggi, Steve Kuper and Ryan Searle of Lee & Associates represented the undisclosed seller.

December 7, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Sale of 17,229 SF Office, Warehouse Property in San Antonio

by Amy Works December 7, 2016

SAN ANTONIO — Stream Realty Partners has brokered the sale of an office and warehouse building located at 5300 S.E. Loop 410 in south San Antonio. LBL 5300 LLC acquired the 17,229-square-foot property from CLN/WWMK LP for an undisclosed price. Jason Schnittger and Michael Kent of Stream Realty Partners – Central Texas represented the seller, while Nick Prater of 4M Realty represented the buyer in the deal.

December 7, 2016

Industrial Southeast Virginia

GID Investment Advisors Sells Windsor Business Park in Richmond for $33.3M

by John Nelson December 6, 2016

RICHMOND, VA. — Boston-based GID Investment Advisors has sold Windsor Business Park, a 341,960-square-foot, six-building industrial park located on a 62-acre tract at 8550-8570 Magellan Parkway in Richmond. Bethesda, Md.-based Fernau LeBlanc and co-investor John B. Levy & Co. Inc. purchased the asset from GID for $33.3 million. John B. Levy & Co. was the debt advisor and placed the majority of the equity through its affiliate Pickwick Capital. Eric Robison, Evan Magrill and Dean Meyer of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Windsor Business Park was 97.5 percent leased at the time of sale to tenants such as Bon Secours Health System, CVS and GPM Investments.

December 6, 2016

Industrial Office Texas

Stream Realty Partners Negotiates Two Sales Totaling 163,420 SF in Dallas Area

by Amy Works December 6, 2016

DALLAS AND CARROLLTON, TEXAS — Stream Realty Partners has brokered two sales totaling 163,420 square feet in Dallas and Carrollton. In the first deal, MOFAM LLC sold a 43,140-square-foot industrial and office building located at 8400 Ambassador Row in Dallas to 8400 Ambassador Row LLC for an undisclosed price. Jason Moser of Stream Realty Partners represented the seller, while Altschuler and Co. represented the buyer. In the second transaction, WRF Investments acquired a 120,280-square-foot industrial property within Prologis Trinity Mills 3 at 2425 Camp Ave. in Carrollton. Lightning PropCo I LLC sold the building for an undisclosed price. Ryan Boozer and Todd Poticny of Stream Realty Partners represented the buyer, while Nathan Denton of Lee & Associates represented the seller.

December 6, 2016

Illinois Industrial Loans Midwest

Associated Bank Provides $10M Loan for Spec Industrial Development in Schiller Park, Illinois

by Kristin Harlow December 6, 2016

SCHILLER PARK, ILL. — Associated Bank has provided a $10 million land acquisition and construction loan to Bridge Development Partners to redevelop two industrial sites in Schiller Park, about 20 miles northwest of Chicago. The sites are located at 9555 and 9655 Soreng Ave., one mile from the I-294 interchange at Irving Park Road. The parcels were formerly two Hostess Brands sites totaling 9.9 acres. Both sites contained old buildings that have been demolished in preparation for the development of two speculative Class A industrial buildings. The completion of an 84,700-square-foot building and a second 72,825-square-foot building is slated for May 2017. Daniel Barrins of Associated Bank originated the loan.

December 6, 2016

Industrial Michigan Midwest

Signature Associates Negotiates Sale of 108,850 SF Industrial Building in Taylor, Michigan

by Kristin Harlow December 6, 2016

TAYLOR, MICH. — Signature Associates has negotiated the sale of 108,850 square feet of industrial space in Taylor, about 18 miles southwest of Detroit. The building is located at 13500 Huron Street. Brad Viergever of Signature Associates represented both the seller, MYM 13500 JC Property Owner LLC, and the buyer, Hearn Industrial Services Inc. Hearn is a provider of quality control services to the automotive industry.

December 6, 2016

Colorado Industrial Market Reports Western Western Market Reports

Job Growth Encourages Industrial Development

by Camren Skelton December 6, 2016

Denver’s economic growth, its reputation as a commercial hub in the Rockies and the growth in e-commerce sales are all factors contributing to the metro’s strong industrial property performance. Denver employers are on track to add 39,000 new workers to their headcounts by year end, expanding the local workforce by 2.8 percent, with the professional and business services and construction sectors driving employment gains. As household formation and retail spending has increased, demand for industrial space in Denver has followed suit. The city’s strategic position as a Western state commercial hub, along with the rapid rise in e-commerce sales, has attracted retailers and distributors, such as FedEx and Amazon, to the area. These large retailers and distributors are contributing to the high demand for industrial space, especially given the limited number of industrial property deliveries in 2015. The industrial construction pipeline is growing as a result of this demand. Spurred on by Denver’s positive economic performance, developers have expanded the industrial development pipeline, including higher levels of speculative development. About 3.7 million square feet of industrial space will have come online by the end of the year. About 1 million square feet of space was delivered in 2015. The breakneck …

December 6, 2016

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