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Industrial

McClellan-One-Newark
DevelopmentIndustrialLoansNew JerseyNortheast

Creation, J.P. Morgan Receive $64M Construction Loan for Newark Industrial Project

by Taylor Williams

NEWARK, N.J. — A partnership between Creation, a developer with offices in Phoenix and Dallas, and J.P. Morgan Asset Management has received a $64 million construction loan for a 120,584-square-foot industrial project in Newark. The 10-acre site is adjacent to Newark Liberty International Airport and formerly served as a parking facility. The new building, which is fully preleased to Barsan Global Logistics, will be known as McClellan One and will feature 87 trailer parking stalls. Vertical construction will begin within the next 60 days, and completion is slated for February 2025. Los Angeles-based PCCP LLC provided the three-year, floating-rate loan. John Alascio, Rob Rubano, Brian Share, T.J. Sullivan and Chris Meloni of Cushman & Wakefield arranged the debt.

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IllinoisIndustrialLeasing ActivityMidwest

The Junkluggers Signs 12,250 SF Industrial Lease in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — The Junkluggers of Chicago NW Suburbs has signed a 12,250-square-foot industrial lease at 425 Airport Road in Elgin. The junk removal, recycling and reuse business is expanding and relocating from another space in Elgin. The front quarter of the building is set up as a showroom, which The Junkluggers will utilize for its resale business, ReMix Market. Chris Mergenthaler of DarwinPW Realty/CORFAC International represented the tenant, while Don Meyer of Showplace Realty represented the private landlord.

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AcquisitionsIndustrialSouth CarolinaSoutheast

Packaging Company Smurfit Kappa Buys 258,801 SF Industrial Facility in Anderson, South Carolina

by John Nelson

ANDERSON, S.C. — Smurfit Kappa, a global paper-based packaging company, has purchased Building 1 at Evergreen 85 Logistics Park in Anderson, a city roughly 30 miles south of Greenville via I-85. Smurfit Kappa will be the sole occupant of the 258,801-square-foot facility, its first in South Carolina. The seller is Kansas City-based developer Hunt Midwest, which is developing the park adjacent to I-85. The park will span more than 1.7 million square feet of industrial space, with build-to-suit options available for buildings sized 200,000 to 1.1 million square feet. The design-build team for Evergreen 85 includes civil engineer Seamon Whiteside, architect LS3P and Evans General Contractors. Trey Pennington, Jeff Benedict and Tripp Speaks of CBRE represented Hunt Midwest in the transaction and will handle leasing for the remainder of the park.

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North-Dallas-Infill-Portfolio
AcquisitionsIndustrialTexas

Forefront Commercial Buys 627,303 SF Industrial Portfolio in Dallas Area

by Taylor Williams

DALLAS — Locally based investment firm Forefront Commercial Real Estate has purchased the North Dallas Infill Portfolio, a collection of four industrial buildings totaling 627,303 square feet in the Dallas area. The portfolio’s buildings, which are located in Addison, Farmers Branch and Carrollton, were fully leased to 13 tenants at the time of sale. Building features include 22- to 24-foot clear heights, front- and side-load configurations, 76 total dock high doors and over 77,000 total square feet of office space. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Taylor Hare and Chloie Mercer of Newmark represented the seller, AEW Capital Management, in the transaction.

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AcquisitionsIndustrialTexas

Colliers Brokers Sale of 10,203 SF Industrial Building in Pleasanton, Texas

by Taylor Williams

PLEASANTON, TEXAS — Colliers has brokered the sale of a 10,203-square-foot industrial building in Pleasanton, a southern suburb of San Antonio. The building sits on 9.6 acres at 495 Shale Road, and according to LoopNet Inc. was constructed in 2018 and features 22-foot clear heights. Todd Moore, Barkley Peschel and Connor Duffy of Colliers represented the undisclosed seller in the transaction. The buyer was also not disclosed. The building was fully leased to energy firm Baker Hughes at the time of sale.

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IndustrialLeasing ActivityTexas

Restoration 1 Signs 10,060 SF Industrial Lease in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Restoration 1, which provides solutions for properties damaged by water, fire or mold, has signed a 10,060-square-foot industrial lease in North Fort Worth. The building at 13019 Harmon Road comprises six suites and features 25-foot clear heights. Jen Martin of TX Business Parks represented the landlord, an entity doing business as Harmon Condos LLC, in the lease negotiations. Richard Hitz of Bradford Commercial Real Estate Services represented the tenant.

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AcquisitionsIndustrialTexas

Oxford Partners Negotiates Sale of 10,000 SF Industrial Building in Southwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated the sale of a 10,000-square-foot industrial building in southwest Houston. According to propertyshark.com, the building at 9306 Summerbell Lane features 14-foot clear heights, five dock-high doors and 500 square feet of office space. Jeffery Arnaud and Ryley Caton of Oxford Partners represented the seller in the transaction. Rigoberto Juarez of Global Investment Realty represented the undisclosed buyer. 

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IndustrialLoansMichiganMidwest

Maverick Commercial Mortgage Arranges $9M in Financing for Three Industrial Buildings in Michigan

by Kristin Harlow

PONTIAC, FARMINGTON HILLS AND BAY CITY, MICH. — Maverick Commercial Mortgage Inc. has arranged a first mortgage loan totaling $9 million for three industrial buildings in Michigan. A regional bank provided the five-year loan. The subject properties include a 74,026-square-foot building in Pontiac, a 26,571-square-foot building in Farmington Hills and a 51,138-square-foot facility in Bay City. The borrower, 1788 Holdings LLC, is a Maryland-based real estate investment firm specializing in purchasing and repositioning older light industrial properties and industrial outdoor storage assets.

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DevelopmentIllinoisIndustrialMidwest

Industrial Outdoor Ventures Completes Phase I of Spec Industrial Service Facility in Zion, Illinois

by Kristin Harlow

ZION, ILL. — Industrial Outdoor Ventures has completed the first phase of Trumpet Park, a speculative industrial service facility (ISF) in Zion, a city in northeast Illinois. The project includes an 11,440-square-foot maintenance and service facility, a 2,008-square-foot office space and a fenced yard area with 180 trailer parking spaces. Trumpet Park’s first phase, part of a larger $35 million project, is situated on a nine-acre parcel adjacent to a FedEx freight terminal. ISFs, commonly referred to as low coverage industrial properties, provide supply chain infrastructure solutions for industries such as transportation, bulk material distribution, last-mile logistics, heavy equipment and utilities. The new development, located about two miles east of I-94, can be used for truck parking, maintenance/service, material storage and trucking terminals. Chris Volkert, Ned Frank and Pat Hake of Colliers are marketing the property for lease. Arete Design Studio provided architecture, planning and design services for the project, while Spaceco provided civil and surveying services. The second phase of Trumpet Park, which will be built on a 47-acre parcel, is in the pre-development phase.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Sunset Healthcare Solutions Signs 54,153 SF Industrial Lease in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Sunset Healthcare Solutions has signed a 54,153-square-foot industrial lease at 2725 Alft Lane in Elgin. The lease brings the 108,307-square-foot building to full occupancy. Kenneth Franzese and John Cassidy of Lee & Associates represented the landlord, a private partnership. David Haigh of NAI Hiffman represented Sunset Healthcare Solutions, which is a national manufacturer and distributor of medical respiratory equipment for hospitals and private homes. The company is relocating from Bloomingdale.

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