Industrial

UNARCO Leases 155,390 SF in Duke Realty’s Nashville Business Center II

by John Nelson June 19, 2015

NASHVILLE, TENN. — Duke Realty Corp. has signed UNARCO Material Handling Inc. to lease 155,390 square feet of industrial space in Nashville Business Center II. UNARCO is a national manufacturer and distributor of structural and roll-formed pallet racking and warehouse storage systems. The company will use the building, located at 3438 Briley Park Blvd., as a product distribution center. UNARCO’s lease brings the building to 78 percent occupancy. Nashville Business Center II is a 501,300-square-foot building that features 32-foot clear heights, 42-foot by 50-foot bay spacing and auto and trailer parking around the building. Improvements made on behalf of UNARCO include constructing a demising wall, adding a new building entrance, establishing separate electrical service and reworking the office area. Charley Hankla of DTZ represented UNARCO in the lease transaction. Duke Realty was represented internally by Lonnie Russell.

June 19, 2015

Georgia Industrial Southeast

Compass Self Storage Acquires Eighth Facility in Metro Atlanta

by John Nelson June 18, 2015

MCDONOUGH, GA. — Compass Self Storage, a member of the Amsdell family of companies, has purchased a 72,000-square-foot self storage facility at 2140 Jodeco Road in McDonough, a southern suburb of Atlanta. Compass Self Storage will continue to operate the property, which features drive up access, indoor climate controlled units, digital surveillance, electronic access, online payments, outdoor parking and a line of moving and packing supplies. The facility is the eighth Compass Self Storage location in the metro Atlanta area and the sixth store that Compass has opened under the Compass flag in 2015.

June 18, 2015

Illinois Industrial Market Reports Midwest Midwest Market Reports

Dynamic O’Hare Industrial Submarket Regains Its Beat on Development Front

by Haisten Willis June 18, 2015

Chicago’s 1.2 billion-square-foot industrial market has weathered the Great Recession and is now showing strong growth through expansion of the region’s traditional boundaries and by way of redevelopment in land-locked areas. At the center of this trend is O’Hare International Airport — sixth in the nation and 17th in the world in air cargo tonnage. All totaled, the O’Hare industrial submarket contains 103 million square foot of product. Since the vacancy rate peaked at approximately 13 percent in 2010, the O’Hare industrial submarket has rebounded in a big way. In fact, the submarket has recorded positive absorption every year since 2011. The vacancy rate fell to 7 percent in 2014 due to an improving economy and the aggressive deal making of the larger industrial owners such as Prologis, KTR and Hamilton Partners. Development Ramps Up Shrinking vacancy rates and a lack of available Class A logistics facilities led to the delivery of multiple speculative developments in 2014. These projects were the first built since 2007. Panattoni completed 208,000 square feet at 1925 Busse Road in Elk Grove Village and leased the entire facility to CEVA Logistics. The project was subsequently sold to AEW Capital Management at a record-setting cap rate …

June 18, 2015

California Industrial Western

Isarena Buys Gardena Industrial Building for $4.8M

by Nellie Day June 18, 2015

GARDENA, CALIF. – Isarena has purchased a 4,6770-square-foot industrial building in Gardena for $4.8 million. The building is located at 246 W. 146th Street. Isarena was represented by Gary Blan of Commercial Property Group. The seller, Robert R. Barboor Trust, was represented by Craig Poropat and Bret Osterberg of Lee & Associates Los Angeles – Long Beach.

June 18, 2015

Arizona Industrial Western

Daifuku Renews, Expands at Chandler Tech Center

by Nellie Day June 18, 2015

CHANDLER, ARIZ. – Japanese material handling and automation solutions firm Daifuku has leased 30,247 square feet at Chandler Tech Center. The renewal allows the firm to expand its operations at the center, which is located at 7406 W. Detroit Street in Chandler. Daifuku was represented by Conner Lee and Marc Pierce of Lee & Associates. The landlord, Buchanan Street Partners, was represented by Jackie Orcutt and John Grady of Cushman & Wakefield.

June 18, 2015

Industrial New Jersey Northeast

The Hampshire Cos. Sells FedEx Ground Building in Carteret, N.J., to TIAA-CREF

by Jaime Lackey June 17, 2015

CARTERET, N.J. — The Hampshire Cos. has announced the sale of PortSouth Milik, a 232,134-square-foot industrial building located at 200 Milik St. in Carteret, to TIAA-CREF. Hampshire acquired the former Pathmark office headquarters site in June 2011 and transformed the space into a LEED-certified warehouse and industrial logistical center before signing FedEx Ground as a tenant. The building is located within easy access of the New Jersey Turnpike at exit 12, near Port Newark/Elizabeth and Newark Liberty Airport. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CBRE Institutional Properties represented The Hampshire Companies in the transaction.

June 17, 2015

Illinois Industrial Midwest

Morgan/Harbour Completes Renovation for Inmar Warehouse

by Katie Sloan June 17, 2015

ROMEOVILLE, ILL. — Morgan/Harbour has completed the renovation of a 65,000-square-foot warehouse for Inmar in Romeoville. Inmar is a technology company that operates intelligent commerce networks in real-time for retailers, manufacturers and trading partners. The construction was completed during a four-week period and included the build-out of new offices within the existing office footprint, dock renovations and new lighting throughout the warehouse. Morgan/Harbour also constructed a conveyor connection and coordinated the installation of new racking, security and low-voltage electrical systems. Joe Zoksy and Erick Hodorowicz, both of Morgan/Harbour, led the renovation efforts. Ware Malcomb provided architectural services.

June 17, 2015

Industrial Utah Western

Extra Space Storage Buys SmartStop Self Storage for $1.4B

by Nellie Day June 17, 2015

SALT LAKE CITY — Extra Space Storage has acquired SmartStop Self Storage for $1.4 billion. Extra Space will acquire 121 SmartStop stores and will assume the property management for its 43 third-party managed stores once the transaction is complete. SmartStop is based in the Orange County submarket of Ladera Ranch, Calif. It currently operates 169 self-storage properties in 21 states and in Canada. SmartStop is the seventh-largest owner and operator of self-storage facilities in the U.S. Certain SmartStop assets will be sold for about $120 million at or prior to the closing of this transaction. This includes one store in California, beneficial interests in two Alabama stores and five stores in Toronto. The stores in Alabama and California will be managed by Extra Space following the disposition. Salt Lake City-based Extra Space Storage is a self-administered and self-managed REIT. The company owns and/or operates 1,100 self-storage properties in 35 states, Washington, D.C., and Puerto Rico.

June 17, 2015

Industrial Midwest Minnesota

NAI Everest Arranges $13.7M Sale of Former Superior Plating Site in Minneapolis

by Katie Sloan June 16, 2015

MINNEAPOLIS — NAI Everest has arranged the sale of a 5.45-acre property located at 315 First Avenue NE, two blocks from the Mississippi River, in Minneapolis for $13.7 million. Superior Plating previously owned the site for nearly 90 years. The company went bankrupt in 2011. The property was then sold to First & University Investors LLC, which sold the site to Lennar Multifamily Communities. The first phase of development will include 278 apartment units as well as 22,000 square feet of commercial space.

June 16, 2015

Industrial Midwest Missouri

Hilliker Corp. Arranges Sale of 114,000-Square-Foot Industrial Property in Missouri

by Katie Sloan June 16, 2015

HAZELWOOD, MO. — Hilliker Corp., a St. Louis-based commercial real estate company, has arranged the sale of a 114,000-square-foot property located on more than 11 acres in the St. Louis suburb of Hazelwood. The building is located at 5800 Fee Fee Road and contains 18-foot clear ceiling heights, 16 docks with five drive-in doors and a partially fenced parking area for large trucks and trailers. Meade Summers of Hilliker Corp. represented the buyer, Fenton Heavy Manufacturing LLC, and Mark McNulty of CBRE represented the seller, Jefferson Bank and Trust, in the transaction. A logistics company currently leases 75,000 square feet of the property.

June 16, 2015

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