Industrial

Avison Young Negotiates 190,925 SF Headquarters Lease in Chicago Suburb

by Christina Cannon March 29, 2016

LAKE BLUFF, ILL. — Avison Young has negotiated a long-term, 190,925-square-foot industrial lease in Lake Bluff, approximately 35 miles northwest of Chicago. Homewerks Worldwide, a global supplier of home and commercial plumbing and HVAC products, will move its headquarters into the 256,300-square-foot building at 45-85 Albrecht Drive. Globe Corp. is the landlord. The facility, built in 1995, is situated on 19 acres and features 28-foot clear heights, 20 dock doors and parking for 410 cars. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the landlord in the transaction.

March 29, 2016

Industrial Texas

NAI Partners Negotiates 31,075 SF Industrial Lease in Houston

by Haisten Willis March 28, 2016

HOUSTON — NAI Partners has represented Point2Point Crowded House Moving & Storage in the lease of 31,075 square feet of distribution warehouse space located at 527 W. 38th St. in Houston. Point2Point and Crowded House merged in early 2012. Chris Caudill of NAI Partners represented the tenant, Point2Point Crowded Houston Moving & Storage, during the negotiations. Steve Hazel of Insite Realty represented the landlord, Houston Pine Forest M LLC.

March 28, 2016

Connecticut Industrial Loans Northeast

CBRE/NE Secures $7.8M in Financing for 207,878 SF Industrial Building in Connecticut

by Amy Works March 28, 2016

KILLINGLY, CONN. — CBRE/New England has secured $7.8 million in permanent financing for affiliates of The Grossman Companies for an industrial building located at 349 Lake Road in Killingly. The long-term, fixed-rate loan was provided by HarborOne Bank. Situated on 20.7 acres, the 207,878-square-foot industrial facility is fully leased to C&M Corp. and Superwinch with a long-term parking lease to Rite Aid. Kyle Juszczyszyn and Chris Coutts of CBRE/NE arranged the financing for the borrower.

March 28, 2016

Creekside at Langford Distribution Corridor

Georgia Industrial Southeast

Solution Property Group to Build 538,500 SF Distribution Center in Metro Atlanta

by John Nelson March 28, 2016

EAST POINT, GA. — Atlanta-based Solution Property Group has purchased a former General Services Administration warehouse in East Point, a town roughly seven miles south of Atlanta, for an undisclosed price. The company plans to demolish the 55-year-old building and replace it with a new 538,500-square-foot project known as Creekside at Langford Distribution Corridor. The industrial property will be the closest bulk distribution center to Atlanta’s central business district, according to Solution Property Group, which plans to deliver the facility in the early fall of this year. Solution Property Group has selected Pat Murphy, Ray Stache and Spencer Green of Cushman & Wakefield to lease Creekside at Langford Distribution Corridor.

March 28, 2016

Industrial Loans North Carolina Southeast

Revere Capital Provides $4.8M Loan for Future Port of Wilmington Cold Storage Facility

by John Nelson March 28, 2016

WILMINGTON, N.C. — Dallas-based Revere Capital has provided $4.8 million in financing for a new industrial cold storage facility that will be situated on land owned by the state of North Carolina at the Port of Wilmington. Construction is underway on the 101,000-square-foot project, which is the newest cold storage facility in the area and is the first phase of a potential two-phase warehouse operation. The Port of Wilmington is a full-service deep-water port and marine terminal handling more than 400 vessels annually with an annual import/export cargo tonnage of more than 3 million tons. Owned and operated by the North Carolina State Ports Authority, the port offers facilities serving container, bulk and break-bulk operations and is 26 miles from the open sea on the Cape Fear River. CSX Transportation provides direct rail access to the port, which is one of only two ports in North Carolina.

March 28, 2016

Industrial Mississippi Southeast

NAI KLNB Brokers $3.3M Sale of Warehouse Facility in Metro Baltimore

by John Nelson March 28, 2016

ABINGDON, MD. — NAI KLNB has brokered the $3.3 million sale of a two-building, 51,600-square-foot warehouse at 1305 Governor Court in Abingdon, roughly 25 miles northeast of Baltimore. The property is situated within William Paca Industrial Park. Grander Capital Partners purchased the property, which is the Boston-based company’s first acquisition in the state of Maryland. Built in 1987, the all-brick assets were cumulatively 87 percent leased at the time of sale. Brad Berzins and Bill Miller of NAI KLNB represented the undisclosed seller in the transaction.

March 28, 2016

Industrial Michigan Midwest

L. Mason Capitani Arranges 140,000 SF Industrial Lease in Port Huron

by Christina Cannon March 28, 2016

PORT HURON, MICH. — L. Mason Capitani CORFAC International has arranged a 140,000-square-foot industrial lease in Port Huron, approximately 60 miles northeast of Detroit. Rex Performance Products, a manufacturer of polyethylene foam, has leased the building at 2100 Dove St. Jason Capitani and Joe DePonio of L. Mason Capitani represented both parties in the transaction.

March 28, 2016

Industrial Office Southeast Top Stories

Finmarc Buys 26-Property Office, Industrial Portfolio in Northern Virginia for $96M

by Nellie Day March 28, 2016

BETHESDA, MD. — Bethesda-based Finmarc Management Inc. has purchased a 26-building portfolio from First Potomac Realty Trust (NYSE: FPO) for $96 million. The portfolio spans 950,000 square feet of office, flex and warehouse space in Northern Virginia. The properties purchased include Enterprise Center in Chantilly; Gateway Centre Manassas, Linden Business Center and Windsor at Battlefield in Manassas; Herndon Corporate Center and Van Buren Office Park in Herndon; Prosperity Business Center in Merrifield; and Reston Business Campus in Reston. The portfolio is approximately 78 percent leased to more than 70 tenants, including the General Services Administration, Fairfax County, McLean Bible Church, American Public University System, Lenox Industries and U.S. Home Corp. “The sale of the northern Virginia non-core portfolio represents continued execution of our plan to dispose of $350 million of assets,” says Robert Milkovich, CEO of First Potomac Realty Trust. “The proceeds will be utilized to redeem a portion of our outstanding preferred shares, as we work to strengthen our balance sheet and improve our liquidity.” James Meisel and Bruce Strasburg of HFF represented First Potomac in the transaction. Joseph Hoffman and Aaron Rosenfeld of the law firm Kelley Drye & Warren LLP represented Finmarc. First Potomac Realty Trust is …

March 28, 2016

California Industrial Western

Wood Kusaka Studios Buys Industrial Building in Los Angeles for $3.3M

by Nellie Day March 25, 2016

LOS ANGELES — Wood Kusaka Studios has acquired a 14,474-square-foot light industrial property in Los Angeles for $3.3 million. The building is located at 310 N. Madison Ave. It was built in 1971. The property was previously used as a flex space for entertainment and sporting events. Wood Kusaka will use the property as its art studio. It is relocating from nearby Culver City. John Anthony, Chris Steck, Dennis Slattery and Chris Giordano of Charles Dunn Company represented the seller, Fitzpatrick Trust, in this transaction.

March 25, 2016

Illinois Industrial Midwest Office

Opus to Build 23,400 SF Industrial Facility in West Dundee, Illinois

by Christina Cannon March 25, 2016

WEST DUNDEE, ILL. — The Opus Group will develop a 23,400-square-foot warehouse and office facility in West Dundee, approximately 45 miles northwest of Chicago, for oelheld U.S. Inc., a German manufacturer of cooling and lubricating fluids for the tool-making industry. The space, which will be located inside the Oakview Corporate Park, will serve as the company’s U.S. headquarters and manufacturing site. The building will include 7,600 square feet of office space and 15,800 square feet of warehouse space with the ability to accommodate future expansion up to 16,000 square feet. The new facility will include both an interior and exterior spill containment system to ensure that any spilled fluids can be controlled for cleanup, and a new laboratory will allow oelheld to conduct the needed research to meet the demands of their clients. The project is slated for completion this December. Opus Design Build will be the design-builder, and Opus AE Group will be the architect and structural engineer of record. Noel Liston of Darwin Realty represented Opus Development Company, and Ed Lowenbaum and Jason Talanian of Lowenbaum Real Estate Partners represented oelheld in the transaction.

March 25, 2016

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