Industrial

CVS Pharmacy to Build $110M Distribution Facility in Kansas City

by John Nelson December 15, 2016

KANSAS CITY, MO. — CVS Pharmacy, the retail division of Woonsocket, R.I.-based CVS Health (NYSE: CVS), plans to build a 762,000-square-foot distribution center within Skyport Industrial Park in Kansas City. Development costs are estimated at $110 million. The 71-acre facility will be situated at 108th Street and North Congress near Kansas City International Airport and I-29. CVS Pharmacy expects to break ground on the project in January and begin operations in 2018. The new distribution center will support the service and fulfillment needs of more than 370 CVS Pharmacy stores throughout the Midwest. The new distribution center is expected to create more than 360 new jobs, as well as up to 100 additional jobs that will be outsourced to local businesses. The Kansas City Area Development Council (KCADC) worked closely with CVS Pharmacy in bringing the new distribution center to the Kansas City region. Other key members responsible for attracting CVS Pharmacy include the State of Missouri, The Missouri Partnership, Economic Development Corp. of Kansas City, Platte County Economic Development Council, Cushman & Wakefield, NorthPoint Development, KCP&L, Port KC, Metropolitan Community College, Focus Workforces, IMKO Workforce Solutions, QPS Employment Group, Full Employment Council, Missouri Division of Workforce Development, UPS, Scarbrough …

December 15, 2016

Industrial Texas

Boyd Commercial Facilitates Sale of Industrial Property in Houston

by Amy Works December 14, 2016

HOUSTON — Boyd Commercial/CORFAC International has arranged the sale of an industrial property located at 3604 B. Fairmont Parkway in Houston. Alvaro R. Elizondo acquired the 5,000-square-foot property from First Citizens Bank & Trust for an undisclosed price. Andrew Sowell of Boyd Commercial represented the seller in the deal.

December 14, 2016

Industrial Washington Western

Industrial Property Trust Buys Former Tacoma Sawmill for New Development

by Nellie Day December 13, 2016

TACOMA, WASH. — Industrial Property Trust (IPT) has purchased a 58-acre former sawmill in Tacoma for an undisclosed sum. The space is located at 733 E. 11th St. IPT plans to build a 1.1 million-square-foot industrial facility on the property. The IPT Tacoma Logistics Center will include two buildings. The project is scheduled for completion in the first quarter of 2018. Tony Kusak of Cushman & Wakefield Commerce executed the transaction. The seller was Interfor.

December 13, 2016

Connecticut Industrial Northeast Office

O,R&L Commercial Negotiates Sale of Office, Industrial Complex in New Haven, Connecticut

by Amy Works December 13, 2016

NEW HAVEN, CONN. — O,R&L Commercial has arranged the sale of a 150,000-square-foot office and industrial complex, located at 85 Willow St. in New Haven. Willow Street Equities LLC acquired the property, known as Marlin Business Center, from 85 Willow Street NH LLC for $4.5 million. The buyer plans to continue to operate the property as an office and industrial complex with 40 tenants in 16 separate buildings. The complex was originally built for Marlin Firearms in the 1800s and converted to a multi-tenant facility in the late 1970s. Rich Lee of O,R&L Commercial brokered the transaction.

December 13, 2016

Illinois Industrial Midwest

Brown Commercial Brokers Sale of 30,500 SF Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow December 13, 2016

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has brokered the sale of a 30,500-square-foot industrial building in Elk Grove Village, about 25 miles northwest of Chicago. The sales price was not disclosed. The buyer, Gorilla Paper, purchased the property as part of an expansion of its distribution capability. The new space is four times the size of the former facility and will serve as the paper roll manufacturer’s new distribution headquarters. The building is located at 1125 Lunt Ave. Mike Antonelli of Brown Commercial completed the transaction.

December 13, 2016

Industrial Kansas Midwest

Block & Co. Negotiates 20,970 SF Lease for Baseball, Softball Training Academy in Lenexa, Kansas

by Kristin Harlow December 9, 2016

LENEXA, KAN. — Block & Co. Inc. has negotiated the lease of a 20,970-square-foot industrial building in Lenexa in the Kansas City metro area for D-BAT Baseball & Softball Training Academy. D-BAT Kansas City signed a 10-year lease for the space at 16150 W. 110th Street. There are over 40 D-BAT locations nationwide. In addition to private baseball and softball lessons, the company offers pitching machines, a fully stocked pro shop, camps and clinics. D-BAT Kansas City, which opens later this month, is owned and operated by former professional baseball player Curt Lowry. Max DiCarlo and David M. Block of Block & Co. represented D-BAT Kansas City LLC in the transaction.

December 9, 2016

Industrial Northeast Office Pennsylvania

Skanska USA Building to Renovate Laboratory Facility in Pennsylvania for $45M

by Amy Works December 9, 2016

UPPER PROVIDENCE, PA. — Skanska USA Building has signed a contract to renovate GlaxoSmithKline’s (GSK) laboratory and office space in Upper Providence. The project includes the demolition of four floors of existing laboratory space and a new build out of about 100,104 square feet of SMART Lab space, supporting GSK R&D’s Upper Providence facility investments. Construction is slated to begin in December with completion scheduled for October 2017. The contract is worth $45 million and will be included in the order bookings for Skanska USA Building in the fourth quarter.

December 9, 2016

Florida Industrial Southeast

Meridian Development Group Sells 907,237 SF Distribution Center in Sarasota for $51M

by John Nelson December 9, 2016

SARASOTA, FLA. — Meridian Development Group has sold Meridian Distribution Center, a 907,237-square-foot warehouse situated on 50 acres in Sarasota. Toronto-based Agellan Capital Partners Inc. purchased the property for $51 million and will retain Meridian Management Group to serve as the property manager. The asset is fully leased to four tenants — United Natural Foods International occupies 460,000 square feet of dry and refrigerated space, Bealls occupies 200,000 square feet, Access USA leases 163,000 square feet and Albert’s Organics occupies 80,000 square feet of cooler/freezer space. Meridian purchased the former Winn Dixie distribution facility in 2006 for $30 million. In 2009, Meridian developed a two-story, 55,000-square-foot charter school on the site for Imagine Schools and sold it earlier this year for $10.2 million. Kevin Heiss of Largo Real Estate Advisors represented Meridian in the sale of Meridian Distribution Center.

December 9, 2016

Illinois Industrial Midwest

Transwestern Negotiates 47-Acre Ground Lease in Chicago Suburb

by Kristin Harlow December 8, 2016

LEMONT, ILL. — Transwestern has negotiated a 47-acre ground lease for Chicago Truck Parking in Lemont, a suburb of Chicago. The multi-million deal is one of the largest parking leases ever in metro Chicago. The operator of parking lots for tractor-trailers and other commercial vehicles will occupy the space at 12300 New Ave. Located in the I-55 industrial corridor, the new parking lot will allow Chicago Truck Parking to consolidate multiple yards into a single location. The company will continue to operate its truck parking at Veterans Parkway and I-55 in Bolingbrook, Ill., but will consolidate its Archer Avenue and Route 83 location in Lemont at the new location. Terri Alexander of Transwestern represented the tenant in the eight-year lease. Tim McCahill and Brian Vanosky of Lee & Associates represented the landlord, Realterm Logistics.

December 8, 2016

Industrial Midwest Wisconsin

Dickman Co. Arranges 12,040 SF Industrial Lease in Milwaukee

by Kristin Harlow December 8, 2016

MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the lease of 12,040 square feet of industrial and office space for Naturescape Inc. in Milwaukee. The lawn and landscape care company will occupy the building at 5757 N. Lovers Lane Road. Samuel M. Dickman Jr., Samuel D. Dickman and Cale Berg of the Dickman Co. represented the landlord, Marva’s Realty LLC. Lori Hake of Judson & Associates represented the tenant.

December 8, 2016

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