Industrial

Stream Realty to Develop Industrial Property in Metro Dallas

by Haisten Willis November 26, 2014

NORTHLAKE, TEXAS — Stream Realty Partners, a real estate services, development and investment firm, has closed on a 61-acre site in Northlake. Stream will develop three Class A industrial buildings totaling 945,035 square feet. The project, Northport 35 Business Center, will be located near the Union Pacific and BNSF rail lines, Alliance Airport and many logistics and industrial companies. Albert Jarrell of Stream’s construction division will oversee the project. Cannon Green and Bob Hagewood of Stream Realty will oversee leasing.

November 26, 2014

Friedman Arranges Lease of 17,925 SF Industrial Building in Livonia, Mich.  

by Danielle Everson November 25, 2014

LIVONIA, MICH. —   Friedman Integrated Real Estate Solutions has arranged the lease of a 17,925-square-foot industrial space at 12752 Stark Road in Livonia. The landlord, 12752 Stark LLC, leased the space to Elsie Inc. Phil Konopitski of Friedman represented both the tenant and the landlord in the transaction.

November 25, 2014

Industrial New York Northeast

Hillwood Acquires 95-Acre Site, Plans 1.2 Million SF Spec Industrial Project

by Amy Works November 25, 2014

EAST MANCHESTER TOWNSHIP, N.Y. — Hillwood Investment Properties, a Perot company, has acquired a 95-acre tract in East Manchester Township for an undisclosed price. The site is approved for a 1.2 million-square-foot industrial building that Hillwood Investment Properties plans to build on a speculative basis. Located along I-83 in Northern York County, Trade Center-83 will feature 36-food clear heights, a cross-dock configuration, 190-foot truck court depth, dual driveway access for multiple tenants and an ESFR sprinkler system. Additionally, the project benefits from a LERTA Tax Abatement providing tenants with an incentive equating to $0.48 per square foot over the 10-year LERTA term. Construction is scheduled to begin this year with delivery slated for fourth-quarter 2015. Michael Hess of CBRE served as broker for the acquisition and has been retained to market Trade Center-83 for lease.

November 25, 2014

Industrial Massachusetts New Hampshire Northeast

RAM Acquires Two Industrial Properties in Merrimack Valley for $21.2M

by Amy Works November 25, 2014

HUDSON, N.H., and CHELMSFORD, MASS. — The RAM Companies has acquired two industrial properties in Merrimack Valley for $21.2 million. The properties are 267 Lowell Road in Hudson and 25 Industrial Avenue in Chelmsford. The 121,533-square-foot property on Lowell Road features lab, clean room space and 401 parking spaces. Additionally, the property recently underwent renovations for its long-term Mercury Systems and Vectron Corp. The 48,734-square-foot property in Chelmsford is fully leased to a variety of tenants, including Comcast and CDM Smith. Dog Jacoby of Colliers Commercial Real Estate brokered the transaction and arranged debt financing through CIBC Bank for the deal.

November 25, 2014

California Industrial Western

Upland Industrial Property Sells for $3.2M

by Nellie Day November 25, 2014

UPLAND, CALIF. – An 18,500-square-foot industrial building in Upland has sold to Bluewater-Dupont LLC for $3.2 million. The building is located at 1333 W. 9th Street. It contains about 3,000 square feet of office space. The space is occupied by Cascade Drilling LP. The buyer was represented by DAUM’s Chris Migliori. The seller, Philip J. Gentile Jr. Trust, was represented by Eric Burney of the same firm.

November 25, 2014

Industrial Midwest Missouri

Cushman & Wakefield Arranges 10,481 SF Industrial Lease

by Danielle Everson November 24, 2014

ST. ANN, MO. — Cushman & Wakefield | Gateway Commercial has arranged the lease of a 10,481-square-foot industrial building in St. Ann, approximately 16 miles northwest of St. Louis. Customer Direct LLC will occupy space at 500 Northwest Plaza Drive. Jim Loft of Cushman & Wakefield | Gateway Commercial represented Customer Direct LLC in the lease. Balke Brown of Transwestern represented the landlord, Gadwall LLC.

November 24, 2014

Industrial New Jersey Northeast

Puratos Corp. Buys 57,750 SF Industrial Building in New Jersey

by Amy Works November 21, 2014

PENNSAUKEN, N.J. — Cherry Hill, N.J.-based Puratos Corp., a food manufacturer and distribution company, has acquired an industrial building in Pennsauken for an undisclosed price. Located at 1705 Suckle Highway, the property offers 57,750 square feet of industrial space. Scott Mertz of NAI Mertz represented Puratos Corp. in the transaction. The seller, Whitesell Construction, was represented in-house.

November 21, 2014

Industrial Market Reports Michigan Midwest Midwest Market Reports Office Restaurant Retail

Lack of Quality Inventory Spurs New Round of Development in Traverse City

by Danielle Everson November 20, 2014

A blistering cold winter lingered into the late spring and left the commercial real estate market in the Grand Traverse region frozen. Businesses waited for the market and the temperatures to thaw, and a third-quarter surge has activity back on track. From Jan. 1 through Sept. 30, property sales totaled $10.3 million and 221,136 square feet, including 118,515 square feet of industrial/warehouse buildings, 79,463 square feet of professional/medical office space, and 23,158 square feet of retail/restaurant space. That‘s slightly ahead of last year’s pace. During the first three quarters of 2013, property sales totaled $9.9 million and 207,845 square feet, including 121,469 square feet of industrial/warehouse buildings, 44,160 square feet of professional/medical office space, and 42,216 square feet of retail/restaurant space. The office sector posted about a 9 percent increase in the average sales per square foot during the first three quarters of 2014, while the industrial warehouse market recorded an increase of approximately 5 percent. The retail/ restaurant sector saw a 9 percent drop in the average sales per square foot The reduction in the average sales price in the retail/restaurant market sector is mostly due to the lack of quality inventory. This lack of inventory in our market …

November 20, 2014

Illinois Industrial Midwest

McShane Completes 112,065 SF Food Preparation Facility in Des Plaines, Ill.

by Danielle Everson November 19, 2014

DES PLAINES, ILL. — McShane Construction Co. has completed the 112,065-square-foot renovation of an industrial building transforming it into a food preparation facility for DO & CO Chicago Catering Inc. The property is located at 2150 Frontage Road in Des Plaines. McShane enhanced the overall shell of the building to support new refrigeration components, kitchen equipment and upgraded building and safety systems. The facility’s office, warehouse and production areas were modernized with contemporary features to optimize operational efficiencies. Harris Architects Inc. provided architectural services for the project. DO & CO is a catering company based in Vienna, Austria, active in airline, train and international events catering. The foodservice firm has expanded its services to O’Hare International Airport.

November 19, 2014

Industrial New Jersey Northeast

Bussel Realty Corp. Arranges 225,000 SF Industrial Lease in New Jersey

by Amy Works November 19, 2014

SOUTH BRUNSWICK, N.J. — Bussel Realty Corp. (BRC) has arranged the lease of 225,000 square feet of industrial space at 15 Thatcher Road in South Brunswick. Leo Esses of BRC represented the tenant and landlord, which were both undisclosed, in the transaction. The property features 30-foot ceiling heights, 36 trailer docks and one drive-in door for loading, ESFR sprinklers, 2,500 amps of electric power and more than 100 trailer and car parking spaces.

November 19, 2014

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