DALLAS — Lee & Associates has completed a lease transaction for a 10,500-square-foot industrial space located at 1606 S. Barry Ave. in Dallas. Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the tenant, The Dallas Firefighter’s Museum Inc. Josh Barnes of Holt Lunsford Commercial represented the landlord, City Warehouse LP.
HOUSTON — Bellomy & Co. has arranged the sale of Eldridge FM 1960 Storage in Houston. The Class A facility was built in 2008, sits on nearly seven acres and consists of 587 units spanning more than 77,000 square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. listed the facility on behalf of the Houston-based seller. The team also procured the buyer, Extra Space Storage, a publicly traded REIT headquartered in Salt Lake City.
OTSEGO, MINN. — Duke Realty Corp. will construct a 220,000-square-foot industrial facility for Wagner SprayTech Corp. in Otsego, approximately 33 miles northwest of Minneapolis. The building will be situated on 12.3 acres within the Gateway North Business Center. Wagner SprayTech, a company that develops and markets paint sprayers, applicators and decorating products, will use the facility as a warehouse and distribution center. Construction on the building will begin in the second quarter and delivery is slated for the fourth quarter of this year. The build-to-suit asset will feature 5,000 square feet of office space, 36-foot clear heights and has the capability to expand by 50,000 square feet. Wagner will relocate from its existing facility in Brooklyn Center once the new project is complete. Paul Bickford with Colliers International and Fred Hedberg with Paramount Real Estate represented Wagner in the transaction. Dan Swartz with CBRE represented Duke Realty.
BELOIT, WIS. — Hendricks Commercial Properties will develop a 105,000-square-foot speculative industrial building in Beloit, approximately 75 miles southwest of Milwaukee. Situated on 30 acres at the intersection of Willowbrook and State Line roads, the facility will be able to accommodate users 52,000 square feet and larger. The City of Beloit currently owns the land. The facility will feature 32-foot clear heights, 10 dock doors, two drive-in doors and 140-foot truck courts. The property will also have an expansion capacity of 420,000 square feet. The construction is slated to start this spring and be completed by this fall. Angus Young Associates is designing the building. Corporate Contractors Inc. will be the general contractor, and Chase Brieman of CBRE is marketing the development for lease.
EL PASO, TEXAS — A business unit of Stockholm, Sweden-based Electrolux Group has leased 409,180 square feet of industrial space in El Paso. BH Properties bought the 655,000-square-foot building from Electrolux in 2009 and leased it back to the company until February of 2014. The property is located at 9600 Pan American Drive. Terms of the five-year lease were not disclosed. Cushman & Wakefield | PIRES International’s Brett Preston and David Hingst were the brokers for the transaction. Champlain Cable Corp. occupies 117,000 square feet in the building, and 128,000 square feet is unoccupied. Electrolux also operates a manufacturing facility across the border from El Paso in Ciudad Juarez.
HOUSTON — GSL Capital Management LLC has signed a new lease at 2200 Lauder Road in Houston. The 100,000-square-foot lease is for a crane-served manufacturing facility on 14.7 acres. Clay Pritchett of NAI Partners represented the landlord, GSL Capital Management LLC. Carlton Anderson of CBRE represented the tenant.
WAUKESHA, WIS. — PREMIER Design + Build LLC will construct a 214,533-square-foot industrial distribution warehouse in Waukesha, approximately 20 miles west of Milwaukee. The speculative facility, situated on 11.8 acres, will feature 32-foot clear heights, 28 truck dock positions, four drive-in doors, 52 trailer stalls and 91 car parking spaces. The Class A building will be located at 901 Northview Road. Partners in Design Inc. is the architect for the project, and Pinnacle Engineering Group is providing civil engineering services. HSA Commercial Real Estate is the building developer, Roger Siegel of JLL will market the building for lease.
GURNEE, ILL. — Avison Young has arranged a 213,000-square-foot lease for Handi-foil in Gurnee, approximately 40 miles northwest of Chicago. The building, located at 5650 CenterPoint Court, sits inside the Grand Tri-State Business Park. Built in 2005, the property features 32-foot clear heights and 9,800 square feet of office space. The building will be an expansion for Handi-foil, a manufacturer of recyclable aluminum products, based in Wheeling, Ill. Brett Kroner, Keith Puritz and Eric Fischer of Avison Young represented the tenant in the transaction. Ryan Bain and Zach Graham of CBRE represented the landlord, CenterPoint Properties.
Mexico is what drives El Paso. Mexico is the dog and El Paso is the tail. When the dog is happy the tail gets to wag, and we’re wagging pretty hard right now. The El Paso industrial market hasn’t been this strong since at least 1990. Juarez, Chihuahua, El Paso’s Mexican counterpart directly across the border, posted a third consecutive year of positive industrial absorption in 2015. Build-to-suit development activity is at a level not seen in five years. As a direct result, El Paso’s industrial vacancy rate dipped below 9 percent in the fourth quarter of 2015, the strongest tenancy performance in nearly a decade, according to Cushman & Wakefield | PIRES International. All the leasing activity we’ve been seeing has been chewing into the city’s vacancy rate. El Paso’s Class A vacancy rate is now below 2 percent. For example, in February, Los Angeles-based BH Properties leased a 409,000-square-foot industrial space located at 9600 Pan American Drive between Interstate 10 and the Rio Grande to a subsidiary of Sweden-based Electrolux Group. Electrolux Group chose the location because it is near the Zaragoza Bridge, El Paso’s far-east port of entry, providing convenient access to the company’s plant across the …
SAN DIEGO — RAF Pacifica Group has purchased a 16-building industrial portfolio in San Diego. The price was not disclosed, though the firm secured a $19.6 million loan at 50 percent leverage for the acquisition. The 277,040-square-foot portfolio is fully leased. It contains six projects with a total of 87 tenants. The projects include Carroll Way Industrial Park, Rancho Pacifica Business Center, Sorrento Mesa Commerce Center, Enterprise Business Center, and Oceanside Business Park I & II. Oceanside Business Park I & II was purchased from a private owner, while the remainder were acquired from a private international real estate investment firm. James Ruiz and Lori Wendel of Keystone Mortgage Corp. provided acquisition financing. Randy LaChance of Voit, Bob Willingham of Kidder Mathews, along with John Witherall, Josh McFadyen and Joe Crotty of Colliers International, executed the transaction.