2014 was an exceptional year for sales and leasing activity for the Raleigh-Durham industrial market. Velocity in investment sales boomed in 2014 — the strongest year since 2006, and second strongest in history. Developers are actively seeking land to build new parks as demand for Class A industrial space outweighs supply and rental rates begin to rise. Although, the Raleigh-Durham MSA is a smaller industrial market in the region, it’s been ranked No. 1 by Forbes as the Best Place for Business and No. 2 for the Fastest Growing Large U.S. City from 2010-2030 by the United Nations Population Division. Companies continue to announce corporate relocations and expansions and unemployment is lower than the national average at 4.5 percent in October. EDM America relocated its $150 million headquarters operation to Raleigh from Pennsylvania. Argos Therapeutics announced an expansion project in Durham — a $57 million bio-manufacturing plant. The area has also seen an influx of third-party logistics companies, moving companies and suppliers for the home building industry opening new locations and consolidating to larger blocks of space. As user demand continues, there is a strong desire by investors to become a part of our market or expand their current footprint. …
MARYLAND HEIGHTS, MO. — The Sansone Group/CORFAC International has arranged the lease of a 29,231-square-foot industrial space for JW Logistics LLC in Maryland Heights, a suburb of St. Louis. The property is located at 11401-11445 Moog Dr. The industrial space is near I-270 and Page Avenue. JW Logistics will use the warehouse space as a packaging and staging area to serve one of its main corporate clients. Vince Bajardi of The Sansone Group/CORFAC International represented JW Logistics in the lease.
FORT WORTH AND CARROLLTON, TEXAS — Ascension Properties LP has purchased two properties located in Fort Worth and Carrollton. The purchase is the result of a 1031 tax-deferred exchange from the sale of Ascension Point Condominiums in August 2014. The first property is an office building built in north Fort Worth in 2004. Ascend Alliance LP sold the 20,100-square-foot building. Marty Rader with DFW Realty Partners LLC represented the seller in the transaction. Steve Fithian with Sperry Van Ness/Visions Commercial represented Ascension in the transaction. The other property is an industrial building located at 2420 Tarpley Road in Carrollton. Beltwood I & II Ltd., and Belmeade Tarpley Ltd., were the sellers. The property spans 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness/David Cook Co. represented the seller. Fithian represented Ascension in the sale.
MARIETTA, GA. — Sealy & Co. has purchased Northwest Business Center, a 12-building industrial portfolio in Marietta spanning 472,000 square feet. The warehouse and light-industrial park is located near I-75 and I-285 in Cobb County, home to the new Atlanta Braves stadium known as SunTrust Park, which will open in April 2017. Sealy & Co. purchased Northwest Business Center for an undisclosed amount for its investment offering: Sealy Strategic Equity Partners.
FULLERTON, CALIF. – Engineered Floors has leased a 127,375-square-foot industrial building in Fullerton. The lease is valued at $3.2 million. The building is located at 675-679 Placentia Ave. Engineered Floors was represented by John P. Eddy and Tyler Rollema of Coldwell Banker Commercial BLAIR WESTMAC. The landlord, BB&K/Fullerton Industrial Properties, was represented by Mike Hefner and Mike Vernick of Voit Real Estate Services.
CHARLOTTE, N.C. — Dallas-based Westmount Realty Capital has sold Logistics Pointe/Charlotte, a 1.1 million-square-foot industrial/distribution complex at 2401 Nevada Blvd. and 12520 General Drive in Charlotte. The buyer was a joint venture between LRC Opportunity Fund and New York Life Real Estate Investors. Westmount Realty originally purchased the asset in June 2006, a year after Winn-Dixie filed for Chapter 11 bankruptcy and closed its Southeastern distribution center. The complex includes a 209,316-square-foot freezer building, 191,239 square feet of refrigerated space, a truck maintenance facility, 30,000-square-foot office building and approximately 650,000 square feet of rail-served dry warehouse/distribution space. Among the major tenants are Americold, West Logistics, Otto Environmental Systems, United Natural Foods (Albert’s Organics) and Provide Commerce (Pro Flowers, Shari’s Berries). Chris Norvell, Bill Simerville and Scot Humphrey of Cushman & Wakefield | Thalhimer’s capital markets team, along with Lane Holbert and Eric Ridlehoover of the firm’s Charlotte office, represented Westmount Realty in the transaction.
ORLANDO, FLA. — Prologis Inc. has signed two lease agreements with tenants in Orlando totaling 257,540 square feet. UPS Supply Chain Solutions Inc. has signed a new lease for 112,000 square feet at Prologis Orlando Corporate Center, which features cross loading, extended truck courts and expanded trailer parking. Additionally, an undisclosed tenant has expanded an existing lease to occupy an entire 145,540-square-foot building at Prologis Beltway Commerce Center. As of Sept. 30, 2014, Prologis owns approximately 4 million square feet of logistics and distribution space in 33 buildings in the Orlando area.
SAN LEANDRO, CALIF. – 21st Amendment Brewery has leased 58,648 square feet of space at the Williams Street Industrial Park in San Leandro. The space is located at 2010-2020 Williams Street. The brewery now occupies the entire space. Future plans may include a 5,000-square-foot brewery café/pub. The landlord, Broadreach Capital Partners, was represented by DTZ’s Jeff Starkovich and Michael Karp.
ROCKY HILL, CONN. — West Hempstead, N.Y.-based GTJ REIT has acquired a single-story industrial property in Rocky Hill for an undisclosed price. Situated on 12 acres, the 92,500-square-foot property was retrofitted and renovated in 2008. The facility is currently leased and occupied through June 2023 by the Connecticut Lottery Corp. This is GTJ’s first acquisition of 2015; in 2014, the firm completed five transactions across the tri-state area. Terms of the transaction were not released.
NEW ROCHELLE, N.Y. — CBRE Group has arranged the sale of an industrial facility located at 125 Beechwood Ave. in New Rochelle. Arizona-based AMERCO purchased the 152,000-square-foot building for $6.1 million. The buyer is the parent company of U-Haul and plans to use the facility for truck and van rentals, as well as selling moving supplies. Kevin Langtry of CBRE represented the seller, LARS Realty Co., while Jami Savage and Kevin McCarthy, also of CBRE, represented the buyer in the transaction.