Industrial

Principal Real Estate Investors Buys 216,000 SF Industrial Facility

by Amy Works October 17, 2014

MOONACHIE, N.J. — Principal Real Estate Investors has acquired One Lladro Drive, an industrial facility located in Moonachie, for an undisclosed price. The 216,000-square-foot industrial facility will undergo a major capital improvements program, including improved sprinkler systems, lighting and loading capabilities, to ensure the property as an institutional-quality asset. Principal Real Estate Investors has selected the CBRE team of William Waxman, Mindy Lissner, Matthew Corpuel, Thomas Tucci and Jamie Dennison to rebrand and reposition the property, which will be renamed Tri-State Commerce Center.

October 17, 2014

Industrial Texas

HFF Arranges $18.8M Financing for Industrial Portfolio in Metro Dallas

by Haisten Willis October 17, 2014

RICHARDSON AND CARROLLTON, TEXAS — HFF has arranged $18.8 million in acquisition financing for a six-property, 16-building industrial portfolio totaling 462,618 square feet in the north Dallas area. HFF worked on behalf of the borrower, Red Tail Acquisitions, to secure the 10-year, fixed-rate loan through a correspondent life insurance company. Loan proceeds were used to purchase the portfolio. HFF also represented the seller. The portfolio consists of 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, along with 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrollton, Texas. The properties are located near I-635 and Highway 75. The properties are 87 percent leased overall to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corp. of America, SKH Beauty Inc. and All Sorts Mailing Services Inc.

October 17, 2014

Illinois Industrial Midwest

Europa International Acquires 47,650 SF Industrial Facility in Vernon Hills, Ill.

by Danielle Everson October 17, 2014

VERNON HILLS, ILL. — Entre Commercial Realty LLC has arranged the sale of a 47,650-square-foot industrial facility in Vernon Hills. Europa International purchased the property located at 225 Corporate Woods for an undisclosed sales price. The eyewear and sunwear manufacturer is relocating and expanding from its current location in Buffalo Grove. In addition, the company’s manufacturing facility in California is also moving to the new Vernon Hills site. Brian Bocci of Entre represented Europa in the transaction. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CBRE represented the undisclosed seller.

October 17, 2014

Industrial Market Reports Midwest Market Reports

Strong Absorption Spurs Speculative Industrial Construction in Columbus

by Danielle Everson October 16, 2014

Historically low vacancy combined with pent-up demand in the Columbus industrial real estate market is driving new speculative construction for the first time since the Great Recession. In fact, we expect delivery of 1.8 million square feet of spec construction by the end of this year. After a six-year drought, several speculative and build-to-suit buildings, ranging from 300,000 square feet to 700,000 square feet, are in the works. More than 1 million square feet of space already has been absorbed this year — the highest amount since before the recession. The vacancy rate stands at 7.4 percent, 320 basis points lower than the historical average. Average asking rents for modern bulk buildings have risen 7 percent since last year. Cargo Air Service Advantage Rickenbacker International Airport, one of the only cargo-dedicated airports in the world, is a huge growth driver. As an important part of the global, multi-modal logistics hub, Rickenbacker Inland Port moves air cargo to, from and within the United States and has routes to Singapore, Shanghai, Hong Kong and Shannon, Ireland. FedEx Air, FedEx Ground and UPS regional hubs also are on-site. According to the U.S. Department of Commerce’s International Trade Administration (ITA), Columbus was among the …

October 16, 2014

Industrial New York Northeast

CBRE Group Brokers $36M Sale of West Nyack Industrial Property

by Amy Works October 16, 2014

WEST NYACK, N.Y. — CBRE Group has brokered the sale of an industrial property, located at 100 Brook Hill Drive in West Nyack, for $36 million. The 490,795-square-foot building is fully air-conditioned and features 24- to 26-foot clear heights and 6,200 amps of electric service. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Frank Maresca, Michael Hines, Brian Fiumara, Brad Ruppel, James Tully of CBRE represented the sellers, Robert Martin Co. and MAG Real Estate Advisors, in the transaction. Additionally, the CBRE team procured the buyer, Diamond Properties.

October 16, 2014

Industrial Texas

NAI Houston Negotiates Industrial Lease Renewal and Expansion

by Haisten Willis October 15, 2014

HOUSTON — NAI Houston represented Veritrust Corp. in the renewal and expansion of its industrial lease of 87,000 square feet at 2000 Afton Road in Houston. Chris Kugle of NAI Houston represented the tenant, Veritrust Corp., while Ed Bane and Jon Michael of NAI Houston represented the landlord, BRE/TX Industrial Properties LLC.

October 15, 2014

Industrial Texas

Colliers Arranges Industrial Lease for Stanley Steemer in Metro Dallas

by Haisten Willis October 15, 2014

FARMERS BRANCH, TEXAS — Colliers International has arranged a 25,767-square-foot industrial lease for Stanley Steemer in the Dallas suburb of Farmers Branch. Stanley Steemer’s new facility will be located in Valwood Service Center, a warehouse facility with mid-to-high level finishes located at 13859 Diplomat Drive. The location will feature a showroom and carpet and upholstery cleaning operations. Allen Gump and Allyson Gump of Colliers’ Dallas office along with Sean McHale of Colliers’ Indianapolis office represented Stanley Steemer in the transaction. Weldon Davis of Focus Service Group represented the landlord, Valwood Service Center II Ltd.

October 15, 2014

Industrial Market Reports New York Northeast Northeast Market Reports

New York’s Tech Valley Expects Continued Industrial Growth

by Jaime Lackey October 15, 2014

The New York Capital Region’s industrial market has experienced strong growth over the past 24 months, and promises a continued pattern of growth for the next 12 to 24 months. As the office market in the central business district struggles to right itself fueled by the State’s tenuous occupancy of numerous privately held properties, the industrial marketplace has flourished with extended commitments from existing users and the entrance of new users. Upstate New York is making a name for itself in the nanotech industry, and a great deal of national and international attention has been drawn to the region. In addition to activity driven by high-tech companies, national distribution and manufacturing groups have committed to the region or have focused their site searches in the Capital District. The most significant job creation mechanism in the region has been the nanotech industry. Billions of private and public sector money has been invested since 2010 into Luther Forest Technology Campus in Malta, N.Y., as well as SUNY Polytechnic Institute (also known as the Colleges of Nanoscale Science and Engineering). These facilities have placed our region firmly on the international map and have transformed the appearance of New York’s Capital Region. The strongest …

October 15, 2014

California Industrial Western

Dynamex Signs Industrial Lease in San Diego

by Nellie Day October 14, 2014

SAN DIEGO – Dynamex has leased a five-year lease for a 59,317-square-foot industrial distribution warehouse in San Diego. The space is located at 7130 Miramar Road. The lease is valued at $2.5 million. The transportation service company will use this space as a distribution center. The company was represented by Evan McDonald of Colliers International. The landlord, Morgan Stanley, was represented by Ryan Spradling of Cassidy Turley.

October 14, 2014

Industrial Texas

NAI Houston Arranges Lease Expansion in Houston

by Haisten Willis October 14, 2014

HOUSTON — NAI Houston represented Andrews Fabrication in the expansion of its 21,000-square-foot industrial lease at 1528 Mooney Road. Jake Wilkinson of NAI Houston represented the tenant in the transaction. Patrick Wolford of TNRG represented the landlord, Rob Pelletier Construction Inc.

October 14, 2014

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