Industrial

Beacon Partners to Build 1.2M SF Industrial Park in Charlotte

by John Nelson July 13, 2016

CHARLOTTE, N.C. — Beacon Partners has closed on the purchase of a 95-acre site in north Charlotte known as The Metrolina Expo Center for the development of Metrolina Park, a 1.2 million-square-foot manufacturing and logistics campus. Beacon Partners purchased the site from Linda Pistone for an undisclosed price. The industrial park will be situated off Statesville Road nearly one mile from I-77. Phase I of the development features two spec facilities totaling more than 600,000 square feet, as well as infrastructure and pre-grading on three additional lots to accommodate an additional 600,000 square feet. The two facilities include a 140,634-square-foot rear-load building fronting Statesville Road and a 495,950-square-foot cross-dock facility located near the park’s entrance. Beacon Partners plans to deliver both properties in the second quarter of 2017. The development team includes general contractor Edifice, civil engineer Orsborn Engineering Group and architect Merriman Schmitt. Wells Fargo provided construction financing on behalf of Beacon Partners.

July 13, 2016

Industrial Kentucky Southeast

Dermody Properties Breaks Ground on 546,000 SF Industrial Facility in Metro Louisville

by John Nelson July 13, 2016

SHEPHERDSVILLE, KY. — Dermody Properties has begun construction on LogistiCenter at 480, a 546,000-square-foot industrial facility located in Shepherdsville, about 20 miles south of Louisville near the Louisville International Airport and the UPS Worldport air hub. The project will be situated within Cedar Grove Business Park on Park Loop Road, less than two miles from the I-65 and Kentucky Highway 480 interchange. Users within Cedar Grove Business Park include Amazon, Best Buy, Clorox, eBay, Gordon Foods, UPS and Zappos. LogistiCenter at 480 will include 36-foot clear heights, 49 dock doors, 63 trailer stalls and 320 parking stalls. Dermody and general contractor Gordian Design and Construction expect to deliver the asset by the end of the year. Dermody has selected Kevin Grove and Doug Butcher of CBRE to lease the asset, which Dermody thinks will be well-suited for an e-commerce user.

July 13, 2016

Industrial Loans New Jersey Northeast

G.S. Wilcox & Co. Closes Two Loans Totaling $19.5M for Industrial Properties in New Jersey

by Amy Works July 13, 2016

SECAUCUS AND WHIPPANY, N.J. — G.S. Wilcox & Co. has secured two loans totaling $19.5 million for two industrial properties located in Secaucus and Whippany. The company arranged a five-year, fixed-rate loan for $13.5 million that includes a 30-year amortization schedule. The loan was secured by a 202,148-square-foot warehouse building in Secaucus. Additionally, G.S. Wilcox also arranged a $6 million, fixed-rate loan for seven years. The loan, which features a 30-year amortization schedule, was placed on a 100,626-square-foot industrial building in Whippany. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing through Kansas City Life Insurance Co. The names of the borrowers were not released.

July 13, 2016

Industrial New York Northeast

HelmsleySpear Arranges $10.5M Sale of Warehouse Property in Queens

by Amy Works July 13, 2016

NEW YORK CITY — HelmsleySpear LLC has arranged the sale of a commercial building located at 19-40 Flushing Ave. in the Ridgewood section of Queens. Farmville, Va.-based Tri-Boro Shelving acquired the 25,234-square-foot warehouse for $10.5 million, or $416.10 per square foot. The warehouse features 17-foot ceilings, eight loading docks and 8,000 square feet of outdoor parking. The buyer plans to renovate the property. Gregg Slotnick of HelmsleySpear represented the undisclosed seller in the transaction.

July 13, 2016

Industrial Office Texas

Triathlon Battery Solutions Moves U.S. Headquarters to Metro Dallas

by Haisten Willis July 12, 2016

COPPELL, TEXAS — Addison-based Biel Partners has brokered a 19,000-square-foot office/warehouse lease for Triathlon Battery Solutions Inc. The company is a United States incorporated entity with investment backing from its German parent, Triathlon Batterien GmbH. The new location will be Triathlon’s headquarters within the United States. Triathlon supplies clients with lead-acid and lithium-ion batteries powering equipment such as electric forklifts and pallet jacks, electric industrial trucks and mobile lifting platforms. Triathlon occupied its new space at 631 Southwestern Blvd., Suite 140 in Coppell earlier this month and will hold a grand opening ceremony in October. Jeremy Kelly of Stream Realty Partners represented the landlord, ML Realty, in the lease deal.

July 12, 2016

Industrial Texas

TDC Acquires 1.4M SF DHL Supply Chain Property in Fort Worth

by Haisten Willis July 12, 2016

FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 1.4 million-square-foot distribution building in Fort Worth developed and occupied by logistics solutions provider DHL Supply Chain. Completed in June, the property is located at 5600 Mark IV Parkway, near the intersection of I-35 and I-820. John Huguenard and Sean Devaney of JLL represented DHL Supply Chain in the transaction. 5600 Mark IV Parkway was built with 36-foot clear heights, 154 dock doors, parking for 200 cars and 350 trailers and an ESFR fire suppression system. The building’s infrastructure was reinforced to withstand 120-mile-per-hour winds. DHL is preparing to break ground on a speculative basis on an adjacent building, totaling 712,500 square feet, with similar specifications. That building is scheduled for completion next spring.

July 12, 2016

Florida Industrial Loans Southeast

JP Morgan Arranges $22.6M Construction Loan for Spec Industrial Facility in Fort Lauderdale

by John Nelson July 12, 2016

KEY LARGO, FLA. — Ocean Reef Club Real Estate Co., which is owned and operated by Ocean Reef Club in Key Largo, has sold the three-story, 24,673-square-foot Plaza Building in Key Largo for $21.2 million. Mary Lee of Ocean Reef Club Real Estate represented both the buyer and Ocean Reef Club in the sale of the building, which was the largest commercial property for sale at the club. Ocean Reef Club is situated on 2,500 acres and features 65 commercial properties, a 275-room hotel, 30,000 square feet of indoor and outdoor meeting space, two 18-hole golf courses, a 175-slip marina, 12,000-square-foot spa and salon and 20 tennis courts.

July 12, 2016

Georgia Industrial Southeast

Coldwell Banker Upchurch’s Elrod Group Brokers $4.1M Sale of 746,735 SF Industrial Facility in Georgia

by John Nelson July 12, 2016

LAVONIA, GA. — The Elrod Group, a brokerage division with Athens, Ga.-based Coldwell Banker Commercial Upchurch Realty, has arranged the $4.1 million sale of an industrial facility in Lavonia. The 746,735-square-foot warehouse development is situated on 55.8 acres along I-85. Brian Elrod of The Elrod Group represented the seller, Heritage Global Inc., in the transaction. The buyer was an unnamed automotive logistics user.

July 12, 2016

Industrial Midwest Office Wisconsin

The Dickman Company Arranges 20,242 SF Industrial, Office Lease Near Milwaukee

by Christina Cannon July 12, 2016

PEWAUKEE, WIS. — The Dickman Company Inc./CORFAC International has arranged a 20,242-square-foot office and industrial lease in Pewaukee, approximately 20 miles west of Milwaukee. TF Final Mile LLC will occupy Suite 200 in the building, which is located at W233 N2800 Roundy Circle W. Byrne Family Limited Partnership & 3RP LLC is the landlord. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company represented the landlord in the transaction. Bill Langhoff of Colliers International represented the tenant.

July 12, 2016

Features Industrial Top Stories

Record Absorption Leads to Lowest U.S. Industrial Vacancy Rate of Past 30 Years, Says Cushman & Wakefield

by John Nelson July 12, 2016

NEW YORK — The U.S. industrial market has absorbed a record-setting 70.1 million square feet of space in the second quarter, up 6 percent from the same period a year ago, according to Cushman & Wakefield. Year-to-date, the industrial sector has absorbed 132.2 million square feet. The second-quarter figure marks 25 consecutive quarters of net occupancy gains for the industrial sector, with the current quarter’s absorption reaching a new cyclical high. Nationally, the industrial vacancy rate is currently tracking at 5.8 percent, the lowest level of the past 30 years and 270 basis points below the 10-year historical average. Additionally, 38 U.S. markets reported more than 1 million square feet of absorption during the second quarter, with 11 markets recording more than 2 million square feet of absorption. Kevin Thorpe, Cushman & Wakefield’s chief economist, says that despite a series of shocks to the U.S. economy this year and heightened uncertainty emanating from Europe, economic fundamentals remain mostly solid, which ultimately benefits the U.S. industrial sector. “We expect to see some headwinds form in manufacturing and exporting created by the stronger U.S. dollar, but other important industrial-related indicators, such as containerized traffic flows, transportation indices, and business inventories, demonstrate that …

July 12, 2016

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