Industrial

Magnus Development Completes 210,600 SF Industrial Facility Near Columbia, South Carolina

by John Nelson July 18, 2024

BLYTHEWOOD, S.C. — Magnus Development Partners has completed Access 77, a 210,600-square-foot speculative industrial facility in Blythewood, a city near Columbia in Richland County. Situated near I-77, the property is located adjacent to the Scout Motors facility underway and within Northpoint Industrial Park, a county-owned park spanning 340 acres and housing companies including Coca-Cola, Constantia, Koyo and Spirax Sarco. Access 77 is a tilt-up facility that can house a single or multiple users. Features include a minimum clear height of 32 feet, 54- by 50-foot bay spacing, 130-foot truck court, LED lighting, trailer parking, 13 dock doors (expandable to 48) and two drive-in doors. Chuck Salley, Thomas Beard and John Peebles of Colliers are marketing Access 77 for lease.

July 18, 2024

Acquisitions Industrial New York Northeast

Realterm Acquires Industrial Outdoor Storage Facility in Valley Cottage, New York

by Taylor Williams July 18, 2024

VALLEY COTTAGE, N.Y. — Maryland-based investment firm Realterm has acquired an industrial outdoor storage facility in Valley Cottage, located just across the New York-New Jersey border. The 37,560-square-foot facility was built on a 5.4-acre site in 2009 and consists of a seven-bay, drive-thru maintenance facility, a concrete storage yard and office spaces. Realterm plans to implement a value-add program. The seller was not disclosed.

July 18, 2024

Acquisitions Arizona Industrial Western

EQT Exeter Acquires 326,018 SF Falcon Park Phase II Industrial Property in Glendale, Arizona

by Amy Works July 18, 2024

GLENDALE, ARIZ. — EQT Exeter, a real estate division of EQT, has purchased Falcon Park 303 – Phase II, a 326,018-square-foot, Class A industrial building on more than 21 acres in Glendale. US Capital Development (USCD) and an institutional investor sold the asset for $50 million. A single tenant occupies the freestanding building, which was completed on a speculative basis in 2023. Totaling 925,504 square feet, Falcon Park 303 – Phase I and II are located at 15132 and 15152 W. Camelback Road, respectively. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the sellers in the disposition. Cushman & Wakefield’s Mike Haenel, Andy Markham, Phil Haenel and Foster Bundy provided market leasing advisory in the sale, as well as brokered the full-building lease with the existing tenant in fourth-quarter 2023. In 2023, the Cushman & Wakefield team brokered the sale of Falcon Park – Phase I to Cohen Asset Management for $81.7 million, while the Cushman & Wakefield equity debt structured finance team arranged the financing for the buyer.

July 18, 2024

Acquisitions California Industrial Leasing Activity Western

Brennan Completes Sale-Leaseback of Manna Beverage Manufacturing Facility in West Sacramento

by Amy Works July 18, 2024

WEST SACRAMENTO, CALIF. — Brennan Investment Group has acquired a three-building manufacturing facility in West Sacramento and simultaneously leased the property back to the seller, Manna Beverages & Ventures. Totaling 213,000 square feet, the assets are located at 2150 and 2286 Stone Blvd. and 1691 Cebrian St. Manna is a leading beverage manufacturer specializing in co-packing, co-manufacturing and distribution of juices, teas and carbonated beverages. Terms of the transaction were not released.

July 18, 2024

Industrial Michigan Midwest

Lineage Cold Storage REIT Launches IPO at $19B Valuation

by Kristin Harlow July 18, 2024

NOVI, MICH. — Novi-based cold storage REIT Lineage Inc. has launched its initial public offering (IPO) of 47 million shares of its common stock, valuing the company at around $19 billion. In addition, the underwriters of the offering will have a 30-day option to purchase from the company up to 7 million additional shares of its common stock at the IPO price, which is expected to be between $70 and $82 per share. The company expects its stock to be listed on the Nasdaq under the ticker symbol “LINE.” Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Wells Fargo Securities are acting as joint lead book-running managers for the proposed offering. Lineage claims to be the world’s largest global temperature-controlled warehouse REIT with a network of more than 480 facilities totaling over 84 million square feet and 3 billion cubic feet of capacity across North America, Europe and Asia-Pacific.

July 18, 2024

Development Illinois Industrial Midwest

Invenergy Breaks Ground on $30M Center of Excellence in Suburban Chicago

by Kristin Harlow July 18, 2024

BOLINGBROOK, ILL. — Chicago-based Invenergy, a privately held developer, owner and operator of sustainable energy solutions, has broken ground on its Center of Excellence, a $30 million clean energy training and manufacturing facility in the Chicago suburb of Bolingbrook. Located at 790 Remington Blvd., the property will total 135,000 square feet and is slated to open in the fourth quarter. The build-out of the site will employ over 250 local construction workers. The Center of Excellence will be comprised of four main components: a 35,000-square-foot machine shop designed to refurbish and assemble key clean energy components; a 30,000-square-foot central warehouse to manage and store infrastructure, including long-lead wind turbine and solar components; a 35,000-square-foot training center and learning lab with the capacity to support over 1,300 clean energy trainees annually; and a 20,000-square-fot generation control center to monitor and control Invenergy’s energy generation assets.

July 18, 2024

Development Industrial Texas

IAC Properties Breaks Ground on 435,000 SF Spec Industrial Project in South Dallas

by Taylor Williams July 17, 2024

DALLAS — Developer IAC Properties has broken ground on an approximately 435,000-square-foot industrial project in South Dallas. IAC Beckleymeade will be a two-building speculative development that will be situated on a 28.2-acre site. The buildings will total 234,900 and 199,800 square feet and will include 81 dock doors and 5,500 square feet of office space. Azimuth Architecture designed the project, and Krusinski Construction Co. is serving as the general contractor. A tentative completion date was not disclosed.

July 17, 2024

Industrial Leasing Activity Texas

FOH Events Signs 23,465 SF Industrial Lease in South Fort Worth

by Taylor Williams July 17, 2024

FORT WORTH, TEXAS — F.O.H. Events has signed a 23,465-square-foot industrial lease in Fort Worth. The provider of services for entertainment venues is expanding and relocating its headquarters space to 8803 Forum Way on the city’s south side from a space across town that was roughly a third of that size. Shane Benner of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Benson Williams of LanCarte Commercial represented the landlord, Dundee Investments LLC.

July 17, 2024

Development Industrial New York Northeast

Sagard Real Estate Breaks Ground on 332,000 SF Warehouse on Staten Island

by Taylor Williams July 17, 2024

NEW YORK CITY — Sagard Real Estate, the Denver-based firm formerly known as EverWest Real Estate Investors, has broken ground on 1 Nassau Place, a 332,000-square-foot warehouse on Staten Island. The site is located less than a mile from State Route 440, and the design calls for two points of ingress/egress. The building will feature a clear height of 36 feet, 60 dock doors, 175 car parking spaces, rooftop solar panels and an ESFR sprinkler system. Delivery is slated for late 2025.

July 17, 2024

Industrial Leasing Activity New Jersey Northeast

Soligent Signs Industrial Lease in Millstone, New Jersey

by Taylor Williams July 17, 2024

MILLSTONE, N.J. — Soligent has signed an industrial lease in the Central New Jersey community of Millstone. The distributor of clean energy products and services will occupy just under half of a 132,930-square-foot building. The space features a clear height of 32 feet, 4,000 square feet of office space and battery charging stations inside the warehouse for electric forklifts. Peak Construction Corp. is handling the build-out of the space. Boston-based Cabot Properties owns the building.

July 17, 2024

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