Industrial

Self Storage: The Strong, Stable REIT Investment

by Jeff Shaw November 29, 2016

The self storage REIT industry is sizzling hot. Last year, when stocks were flat and REITs generated a mere 2.8 percent return on average, self storage REITs returned a whopping 40 percent, far surpassing all other REIT sectors. Occupancy rates at the 51,000 self storage facilities in the United States have grown by 11 percent from the first quarter of 2012 to the first quarter of 2016. The need for storage facilities continues to increase as Baby Boomers retire and downsize, while millennials flock to rental apartments without garages and basements. In fact, the growth in the inventory of self storage facilities mirrors recent increases in apartment occupancy. Although net absorption of apartments is slowing, self storage REITs remain a solid investment. That’s because the existing inventory of storage facilities is relatively low due to a slowdown of construction during the recession. This lack of sufficient supply prompted Integra Realty Resources to predict record-level prices and continued demand for this strong investment type into 2017. One of the advantages of self storage is that it involves so little capital outlay when compared to other kinds of commercial real estate, such as malls, offices or apartments. Indeed, it requires less capital …

November 29, 2016

Industrial Mixed-Use New Jersey Northeast

NAI Hanson Facilitates Two Sales of Industrial, Mixed-Use Properties in Westwood, New Jersey

by Amy Works November 28, 2016

WESTWOOD, N.J. — NAI James E. Hanson has arranged the sales of an industrial property and a mixed-use building in Westwood in two separate transactions. John Schilp and Andrew Somple of NAI Hanson represented the buyers and sellers in both deals. In the first deal, DR Music acquired a 16,400-square-foot industrial building located at 40 Carver Ave. in Westwood Industrial Park. 40 Carver LLC sold the building, which features 22-foot ceiling heights and two loading docks, for an undisclosed price. In the second deal, an investor acquired a 2,700-square-foot mixed-use property, which was in foreclosure, for an undisclosed price. A New Jersey banking institution sold the building, located at 57 Jefferson Ave.

November 28, 2016

Industrial Office Texas

NAI Partners Facilitates 12,000 SF Industrial Lease in Houston

by Amy Works November 28, 2016

HOUSTON — NAI Partners has arranged the lease of an industrial office and warehouse building located at 5808 Hamblen Road within Logistics Park at World Houston in Houston. Winchester Source Technology LLC will occupy the 12,000-square-foot speculative building. John Ferruzzo and Nick Peterson of NAI Partners represented the landlord, Adkisson Development, while John Ginder of Caldwell Cos. represented the tenant in the transaction.

November 28, 2016

Industrial Office Texas

Lee & Associates Arranges 8,000 SF Industrial, Office Lease in Houston

by Amy Works November 28, 2016

HOUSTON — Lee & Associates has brokered the lease of an 8,000-square-foot industrial and office building at 3023 Farrell Road in Houston. Eurochem International Corp. will occupy the single-tenant facility. Reed Vestal, Cameron Hicks and Taylor Schmidt of Lee & Associates represented the tenant, while Mike Spears and Robert Noack, also of Lee & Associates, represented the undisclosed landlord in the deal.

November 28, 2016

Industrial Kentucky Market Reports Southeast Southeast Market Reports

Louisville Industrial Market Sparks National Investment Appetite

by John Nelson November 28, 2016

Industrial activity in Louisville is growing at an exponential clip and doesn’t appear to be slowing anytime soon. As famously quoted in Field of Dreams, “If you build it, they will come.” And indeed they have. In Louisville and extending into southern Indiana, more than 3 million square feet of new construction has already been delivered this year. What’s more, the current pipeline of projects under construction — coupled with proposed construction — could deliver as much as 3 million square feet or more in the next nine to 12 months. The real estate landscape in Louisville is forever changed. Historically, institutional investors expressed interest in the region but were reluctant to take action. Now, with robust projects on the horizon, the pool of institutional owners making large-scale investments continues to grow. New players like The Opus Group, Dermody Properties Inc., Browning Investments LLC, Molto Properties LLC and VanTrust Real Estate LLC have all established projects in Louisville in the last two years. But why Louisville? Investors are setting sight on Kentucky for more than just new construction. Prime Locations Even during the economic downturn between 2008 and 2011, Louisville was never a victim of the extreme fallout experienced by …

November 28, 2016

Industrial Massachusetts Northeast Office

Investcorp Acquires Two Industrial, Office Assets in Metro Boston Totaling 976,038 SF

by Amy Works November 23, 2016

BOSTON AND CAMBRIDGE, MASS. — Investcorp has expanded its U.S. real estate portfolio with $250 million in acquisitions in Boston and Denver. The five investments include 20 buildings totaling 1.8 million square feet of office, industrial, flex and laboratory space. The company’s Boston acquisitions include the four-building Boston Metro Industrial, a 900,000-square-foot development in Boston that is 95 percent leased, and Blackstone Science Square, a 99 percent-leased, 76,038-square-foot office and laboratory property in Cambridge.

November 23, 2016

Industrial Texas

JLL Negotiates 52,145 SF Industrial Lease in Houston Suburb

by Amy Works November 23, 2016

HUMBLE, TEXAS — JLL has arranged an industrial lease at 620 N. Houston Ave. in Humble, a Houston suburb. Gateway Supply Inc. has leased the entire 52,145-square-foot manufacturing facility. Situated on 8 acres, the property features three crane-served buildings and 7,500 square feet of office space. Mark Nicholas, Richard Quarles and Joe Berwick of JLL represented the landlord, Schroeder Partnership Ltd., while Ron Roberson of Caldwell Cos. represented the tenant in the transaction.

November 23, 2016

Industrial Office Texas

NAI Robert Lynn Brokers Three Leases Totaling 244,539 SF in Texas

by Amy Works November 23, 2016

IRVING, GARLAND AND RICHARDSON, TEXAS — NAI Robert Lynn has arranged three leases totaling 244,539 square feet of industrial and office space in Texas. In the first deal, Sonoco Products leased 155,068 square feet of industrial space at the 248,000-square-foot Towne Lake Business Center at 5111 Frye Road in Irving. Rick Medinis of NAI Robert Lynn represented the landlord, Cabot Properties, while Buddy Turner and Chip Watson of Avison Young represented the tenant. In the second deal, True Velocity Inc. inked a lease for 66,270 square feet of office/warehouse space at 1036 Nicholson Road in Garland. Stephen Cooper and John Leinbaugh of NAI Robert Lynn represented the landlord, while Charles Lester of Lester RE Advisers represented the tenant. In the third transaction, Safeguard Properties leased 23,201 square feet of office space at 2400 Lakeside Blvd. in Richardson. Kent Smith of NAI Robert Lynn represented the tenant in the transaction. The name of the landlord was not released.

November 23, 2016

Industrial Midwest Minnesota Office

CBRE Brokers $46.2M Sale of 560,378 SF Office, Warehouse Portfolio Near Minneapolis

by Kristin Harlow November 23, 2016

PLYMOUTH AND MINNETONKA, MINN. — CBRE Capital Markets has arranged the sale of Carlson Business Center I-VIII in Plymouth and Minnetonka for $46.2 million. The portfolio includes 560,378 square feet of office and warehouse space within eight buildings. The complex is part of the 250-acre Carlson Center business park. The buildings were originally constructed from 1995 to 1997 and the portfolio was 86 percent occupied at the time of sale. WPT Industrial REIT was the buyer. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE Minneapolis arranged the sale on behalf of the seller, Carlson Real Estate Co.

November 23, 2016

California Industrial Western

SAS Automotive Systems Pre-Leases OMP Eureka Landing in Newark

by Nellie Day November 23, 2016

NEWARK, CALIF. — SAS Automotive Systems has pre-leased OMP Eureka Landing, a 142,188-square-foot advanced manufacturing property in Newark. The project will be located at 39888 Eureka Drive. It is situated two blocks west of Interstate-880 and less than five miles from Tesla’s Fremont plant. OMP Eureka Landing represents SAS’s first West Coast outpost where it will bring new manufacturing jobs to the Bay Area. Colliers International’s Mark Triska and Sanjiv Chadha represented SAS.

November 23, 2016

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