Industrial

CenterPoint Properties to Develop 250,575 SF Industrial Expansion for DS Containers in West Chicago

by Christina Cannon March 31, 2016

WEST CHICAGO, ILL. — CenterPoint Properties will develop a 250,575-sqaure-foot expansion for DS Containers Inc. at the DuPage Business Center in West Chicago. The expansion will bring the building to 550,853 square feet. The build-to-suit project will increase the building office space to 25,183 square feet and create 22 exterior dock doors and 139 car parking spaces across 25 acres. The new space will house DS Containers’ manufacturing operations. Rich Brolly and Gerard Keating represented DS Containers in the transaction, and Dominic Carbonari and Frank Griffin of JLL represented CenterPoint.

March 31, 2016

Industrial Midwest Wisconsin

The Dickman Company Completes Sale of 66,310 SF Industrial Property Near Milwaukee

by Christina Cannon March 31, 2016

OAK CREEK, WIS. — The Dickman Company Inc./CORFAC International has completed the sale of a 66,310-square-foot industrial building in Oak Creek, approximately 15 miles south of Milwaukee, for an undisclosed price. Southbranch Property LLC purchased the building from 2250 W. Southbranch LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company Inc. were the sole brokers in the transaction.

March 31, 2016

Industrial Market Reports Midwest Midwest Market Reports Ohio

Speculative Construction Remains Rare Despite Toledo’s Tight Industrial Supply

by Christina Cannon March 31, 2016

The Toledo industrial real estate market continued its steady improvement in the second half of 2015. Tenant demand for space was solid at a time when virtually no new speculative space was added, which led to a shrinking vacancy rate. At the end of 2015, the vacancy rate stood at 6.8 percent, down from 7.2 percent at mid-year and 7.7 percent at the end of 2014. The market absorbed 564,947 square feet in the last half of 2015 on top of the 632,775 square feet absorbed in the first half of the year. With vacancy rates contracting, the overall average asking rental rate in the Toledo industrial market rose 10 cents to $3.14 per square foot between June 2015 and the end of the year. We have commented in prior reports on the dearth of new speculative construction in the region. This trend continues. Only one speculative building has been constructed in the market since well before the Great Recession. That building — a 100,000-square-foot warehouse/distribution building located in Overland Industrial Park in the North Toledo submarket and developed by Harmon Family Properties — was delivered in the second half of 2015. As of December 2015, the building was still …

March 31, 2016

Industrial New York Northeast

Marcus & Millichap Negotiates $4.6M Sale of Brooklyn Industrial Building

by Amy Works March 30, 2016

NEW YORK CITY — Marcus & MIllichap has negotiated the sale of an industrial building located at 1077-1081 Atlantic Ave. in Brooklyn. A limited liability company acquired the 11,500-square-foot facility for $4.6 million. Jakub Nowak and Jason Grunberg of Marcus & Millichap’s Brooklyn office represented the seller, an individual/personal trust, while Nowak, Grunberg and Jim McGuckin, also of Marcus & Millichap, represented the buyer in the transaction.

March 30, 2016

Industrial New Hampshire Northeast

CBRE/NE Arranges 132,241 SF Distribution Lease in New Hampshire

by Amy Works March 30, 2016

MERRIMACK, N.H. — CBRE/New England has arranged a long-term lease for 132,241 square feet of distribution space at a manufacturing/distribution facility located at 59 Daniel Webster Highway in Merrimack. Law Warehouse Inc., one of the largest distribution companies in New England, will occupy the space at the 473,990-square-foot facility, which is owned by an affiliate of Hackman Capital Partners. Roger Dieker and Michael Tamposi of CBRE/NE represented the landlord, while Larry Hirsch of Hirsch & Co. represented the tenant in the transaction.

March 30, 2016

Park-20-Distribution-Center-Arch-Con-Construction-Lancaster-Texas

Industrial Texas

Arch-Con to Build 468,000 SF Distribution Center in Metro Dallas

by Haisten Willis March 30, 2016

LANCASTER, TEXAS — Arch-Con Construction, a design-build general contractor, plans to break ground on a 468,000-square-foot distribution center in Lancaster, a southern suburb of Dallas. The company is breaking ground in April on Park 20 Distribution Center on behalf of developer Huntington Industrial Partners. The project will be a tilt-wall, cross-dock distribution center with a 32-foot clear height on a 36-acre site. Additionally, Arch-Con Construction has opened a new office in Dallas. Arch-Con’s Dallas office is located in Preston Center at 8235 Douglas Ave., Suite 1000.

March 30, 2016

Industrial Office Texas

Henry S. Miller Arranges Sale of Flex Building in Dallas

by Haisten Willis March 30, 2016

DALLAS — Parvez Malik of Henry S. Miller’s investments and land division has sold a 41,000-square-foot office/warehouse building in Dallas. Located at 1750 Regal Row, the property is near I-35 and Dallas Love Field Airport. Sumair Trading Inc. purchased the building from Regal Row Center Ltd. Malik represented Sumair Trading in the transaction, while James Mantzuranis of Stream Realty represented the seller.

March 30, 2016

Centergate at Gratigny 6301 E. 10 Avenue Hialeah

Florida Industrial Southeast

Miller Construction to Build 602,657 SF Industrial Development in Miami-Dade County

by John Nelson March 30, 2016

HIALEAH, FLA. — Miller Construction Co. plans to build two twin industrial assets within Centergate at Gratigny business park totaling 602,657 square feet. The business park is located in Hialeah, a city within Miami-Dade County. Gibson Development Partners is the developer of the $27 million project, which will be located at 6301 E. 10 Ave. Gibson and Miller plan to deliver the asset by the end of the year. Boca Raton-based RLC Architects designed the two buildings, which will feature 32-foot clear heights, 54-foot column spacing, a 185-foot truck court and a 60-foot speed bay. Fairchild Partners is handling leasing on behalf of the owner, an unnamed institutional client.

March 30, 2016

Illinois Industrial Midwest

Opus, AEW Capital Management Break Ground on 452,000 SF Industrial Facility in Illinois

by Christina Cannon March 30, 2016

NORTH AURORA, ILL. — The Opus Group and AEW Capital Management have broken ground on a 452,000-square-foot speculative industrial warehouse in North Aurora, approximately 40 miles west of Chicago. The facility will be situated on 25 acres at 1100 Orchard Gateway Blvd. The property features 36-foot clear heights, 48 docks, four drive-in doors, 79 trailer parking spaces and 263 car parking spaces. The facility can accommodate up to two tenants with distribution and light manufacturing needs that are looking to occupy 200,000 square feet of space or more. Completion of the project is slated for July 2016. Opus Development Co. is the developer, Opus Design Build is the design-builder and Opus AE Group is the architect and structural engineer of record. Brendan Kelly and Todd Heine of Avison Young will market the property for lease.

March 30, 2016

Industrial Oregon Western

Industrial Property in Woodburn Sells for $3.2M

by Nellie Day March 30, 2016

WOODBURN, ORE. — Bradley C. Shepard, Stanley V. Shepard and Growing Investments LLC has purchased a 52,524-square-foot industrial property in Woodburn for $3.2 million. The property is located at 2257 Progress Way. The building is fully leased to Columbia Helicopters. The purchase includes an additional 5.6 acres of industrial-zoned land for future development. Thomas McDowell and Raymond Duchek of Norris & Stevens represented the buyers. Peter Stalick, Steven Klein and Jeff Kiersey of Kidder Mathews represented the seller, Mercer Holdings, in this transaction.

March 30, 2016

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