Industrial

Rite Aid Distribution Center Spartanburg

Johnson Development Secures $41.7M Loan from SunTrust for Rite Aid Distribution Center

by John Nelson July 2, 2015

SPARTANBURG, S.C. — SunTrust Bank has provided $41.7 million in construction financing to Johnson Development Associates Inc. for the new Rite Aid Corp. distribution center in Spartanburg. The 900,000-square-foot facility will consolidate three existing distribution centers and is expected to employ roughly 600 new jobs once fully operational. Construction began on the distribution center in March and is expected to wrap up by this December. Johnson Development has also announced a 362,880-square-foot speculative building to be developed at Flatwood Industrial Park in Spartanburg. Construction is currently underway and is expected to wrap up by the end of the year.

July 2, 2015

Industrial Midwest Minnesota

Opus to Develop 96,000 SF Spec Industrial Property in Minnesota

by Amy Works July 1, 2015

PLYMOUTH, MINN. — The Opus Group is developing a 96,000-square-foot speculative industrial office and warehouse facility in Plymouth, about 13 miles west of Minneapolis. Construction will begin this month on the property, which is located on a site that offers access to I-494 from Highway 55. Designed for multi-tenant use, the property will feature 24-foot clear heights, ESFR sprinkler systems, five loading docks and parking for 204 cars. The building will be ready for occupancy by January 2016. The property will be owned by a joint venture partnership between Opus Development Co. and Founders Properties. Opus Development is the developer, Opus Design Build is the design-builder and Opus AE Group will be the architect and engineer of record. Matt Oelschlager of CBRE has been retained to lease the property.

July 1, 2015

Industrial Texas

Sealy & Co., AEW Arrange Sale of 1.48M SF Texas Industrial Portfolio

by Haisten Willis June 30, 2015

DALLAS, HOUSTON AND SAN ANTONIO — Sealy & Co. has arranged the sale of an industrial portfolio that consists of 19 assets totaling 1.48 million square feet located in Dallas, Houston and San Antonio. The portfolio was part of Sealy’s joint venture holdings with global real estate investment management firm, AEW Capital Management. AEW owned the portfolio on behalf of AEW Partners VII LP, the seventh in AEW’s opportunistic fund series. The portfolio is 91 percent leased and consists primarily of multi-tenant, net-leased industrial facilities.

June 30, 2015

Industrial Texas

NAI Partners Negotiates Purchase of 115,000 SF Industrial Building in Houston

by Haisten Willis June 30, 2015

HOUSTON — NAI Partners represented Electro-Tech Industries in the acquisition of a 115,000-square-foot industrial building located at 303 W. Little York in Houston. Founded in 2000, Electro-Tech Industries (ETI) offers custom design, manufacturing, testing and field service for electrical power distribution equipment and systems. David Boyd and Greg Barra with Boyd Commercial represented the seller, EJKeith Commercial Properties LP, during negotiations. Chris Caudill of NAI Partners represented Electro-Tech Industries in the negotiations.

June 30, 2015

California Industrial Western

Vynapse Agrees to Lease 226,000 SF of Industrial Space in Napa

by Nellie Day June 30, 2015

NAPA, CALIF. – Vynapse, dba Pack n’ Ship Direct, has agreed to lease a 226,000-square-foot wine warehousing facility development within the Greenwood Business Park project in Napa. The Class A space will be located at 1325 Airport Blvd. It represents Phase I of the business park. Greenwood Business Park is being built in two phases by Devcon Construction. Phase II is expected to start construction later this summer. Vynapse will occupy the new building in the next few months. The landlord, New York Life Real Estate Investors, was represented by DTZ’s Brooks Pedder, Tony Binswanger and Trevor Buck. Pedder and Scott Bertrand also represented Vynapse.

June 30, 2015

California Industrial Western

Alameda Industrial Building Sells for $3.1M

by Nellie Day June 30, 2015

ALAMEDA, CALIF. – A 4,500-square-foot industrial building in Alameda has sold to Ming Zhi Investment LLC for $3.1 million. The building is located at 580 South Alameda Street. It is situated within the Los Angeles Arts District. The LLC was represented by Heger Industrial’s Thomas Williams and William Morrison. The seller, Urth Alameda Development, was represented by CBRE’s Brandon Burns.

June 30, 2015

Industrial Massachusetts Northeast

C-F Cold Storage Buys 108,689 SF Climate-Controlled Industrial Property in Massachusetts

by Amy Works June 29, 2015

HAVERHILL, MASS. — C-F Cold Storage has acquired a climate-controlled industrial property located at 10 Creek Brook Dr. in Haverhill. Marwick Associates sold the 108,689-square-foot property for $12.2 million. The property features a state-of-the-art refrigeration system, 34-foot clear heights and highway access. James Stubblebine and David Stubblebine of The Stubblebine Company/CORFAC represented the buyer, while Mark Reardon and Jason Levendusky of CBRE/New England represented the seller in the transaction.

June 29, 2015

Industrial Michigan Midwest

Colliers Brokers Sale of 175,280 SF Industrial Property in Michigan

by Amy Works June 29, 2015

ROMULUS, MICH. — Colliers International has brokered the sale of an industrial property located at 8111 Middlebelt Road in Romulus. PackSpec, a custom packaging company, purchased the 175,280-square-foot property for an undisclosed price. The buyer plans to use the property to consolidate its Warren and Ecorse, Mich., facilities, while expanding its overall facility size. Gary Glotzhober and Jim Roberts of Colliers represented the buyer in the transaction. The name of the seller was not released.

June 29, 2015

Industrial Texas

M&M Arranges Sale of 52,015 SF Self-Storage Facility in Fort Worth

by Haisten Willis June 29, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Safe & Secure Self-Storage, a 52,015-square-foot self-storage facility located in Fort Worth. Brandon Karr and Danny Cunningham of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured by Cunningham and Karr. Safe & Secure Self-Storage is located at 8500 S. Hulen Street. The facility rests on 3.3 acres, was built in 2004 and features an on-site manager’s residence, climate-controlled units, garage-style roll up doors, personalized key-pad gated entry, video surveillance, perimeter fencing and lighting and wide concrete driveways. The property is comprised of 182 interior climate-controlled units, 242 drive-up storage units, five covered parking spaces and 21 uncovered parking spaces.

June 29, 2015

Industrial Nevada Western

CBRE Global Investors Buys Industrial Property Near Reno

by Nellie Day June 29, 2015

RENO, NEV. — CBRE Global Investors has purchased a 707,010-square-foot warehouse and distribution space in the Reno submarket of McCarran for an undisclosed sum. The facility is located at 3200 USA Parkway, within the Tahoe Reno Industrial Center. The property was developed last year on a built-to-suit basis. It is currently occupied by an American e-commerce company selling clothing, toys and home products for mothers and children.

June 29, 2015

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