Industrial

Rockefeller-Group-Logistics-Center-at-Roosevelt-Boulevard

Rockefeller Group, PCCP to Undertake 656,904 SF Industrial Redevelopment in Philadelphia

by Taylor Williams December 18, 2023

PHILADELPHIA — A joint venture between New York City-based Rockefeller Group and Los Angeles-based PCCP LLC will undertake a 656,904-square-foot industrial redevelopment project in Philadelphia. The 50.4-acre site at 1500 Roosevelt Blvd. formerly housed the Byberry State Hospital, and the development team will convert the fully entitled property into a logistics campus. Rockefeller Group Logistics Center at Roosevelt Boulevard will feature two buildings totaling 318,696 and 338,208 square feet. The seller was an affiliate of the Philadelphia Industrial Development Corp. (PIDC), which is the city’s public-private economic development organization. CBRE advised on the sale of the land and will serve as the project leasing agent. John Alascio, Aaron Graves, Alex Lapidus, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged $100 million in construction financing through New York Life Real Estate Investors for the project.

December 18, 2023

California Industrial Leasing Activity Western

DAUM Commercial Negotiates 115,734 SF Warehouse Lease in Rancho Dominguez, California

by Amy Works December 18, 2023

RANCHO DOMINGUEZ, CALIF. — DAUM Commercial Real Estate Services has negotiated the lease of an industrial warehouse facility at 3040 E. Ana St. in Rancho Dominguez. JCQ Industrial leased the asset to DCW Inc., a warehousing, fulfillment, distribution and transportation services company. The site was leased for a total consideration of $10.1 million. The 115,734-square-foot property features 35 trailer or container spaces, 18 dock-high doors, 20-foot to 22-foot warehouse ceiling heights and loading access across the front of the building. The building’s office space allows for configurations that range from 6,500 square feet to 21,000 square feet. Additionally, the asset offers ample parking and reception and kitchen areas. Chuck Brill, Casey Mungo and Nat Ortega of DAUM represented the lessor, while Tyler Rollema of Klabin Co. represented the lessee in the deal.

December 18, 2023

Development Georgia Industrial Southeast

VanTrust Underway on 2 MSF Industrial Build-to-Suit Facility for Burlington Near Savannah

by John Nelson December 15, 2023

ELLABELL, GA. — VanTrust Real Estate is underway on the development of a 2 million-square-foot building within the 515-acre Interstate West industrial park in Ellabell, roughly 30 miles outside Savannah. Burlington Stores Inc. will occupy the build-to-suit property. Dubbed Building D, this marks the fourth and final project at the park, construction of which began in 2021. Buildings A and B span 637,868 and 992,000 square feet, respectively. Building C totals 1.2 million square feet and is leased to The Webstaurant Store Inc. Completion of Building D is scheduled for May 2025. Evans General Contractor is constructing the building, and Pieper O’Brien Herr is the architect. Danny Chase and David Sink of Colliers represented VanTrust in the lease negotiations. Chris Tomasulo and Bennett Rudder of JLL represented Burlington.

December 15, 2023

Industrial Leasing Activity Texas

EV Company Signs 15,110 SF Industrial Lease at The Archetype in West Dallas

by Taylor Williams December 15, 2023

DALLAS — An undisclosed electric vehicle (EV) company has signed a 15,110-square-foot industrial lease at The Archetype, an industrial redevelopment in West Dallas that was formerly known as Commonwealth Center. The deal brings The Archetype’s occupancy level to 86 percent. Chase Miller and Everett James of NAI Robert Lynn represented the landlord, North Texas-based developer M2G Ventures, in the lease negotiations. The tenant representative was not disclosed.

December 15, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 10,800 SF Industrial Lease in Fort Worth

by Taylor Williams December 15, 2023

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 10,800-square-foot industrial lease at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s east side. William Wilson and George Jennings with Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant, Worldwide Import Goods, was not disclosed.

December 15, 2023

Arizona Colorado Development Industrial Multifamily Western

StarPoint Properties Plans Two Opportunity Zone Projects in Arizona, Colorado

by Amy Works December 15, 2023

MESA, ARIZ., AND DENVER — StarPoint Properties is developing two Opportunity Zone projects totaling $115 million. StarPoint has started vertical construction on Lotus Point, a $79.2 million multifamily development in Mesa, and Point Central, a $36.7 million industrial project in Denver. Located at 139 N. Dobson Road, the four-story Lotus Point will offer 245 apartments. The community will benefit from a property tax abatement agreement with the City of Mesa for eight years after construction, which will generate significant property tax savings. Point Central, located at 1051 and 1161 E. 73rd Ave. in Denver, will offer 157,473 rentable square feet split across two industrial buildings with access to Denver’s major highways. Completion of both properties is slated for 2025. StarPoint expects Lotus Point to be stabilized by fourth-quarter 2025 and Point Central by the second quarter of 2025.

December 15, 2023

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 111,594 SF Industrial Building in Schaumburg, Illinois

by Kristin Harlow December 15, 2023

SCHAUMBURG, ILL. — Entre Commercial Realty has brokered the sale of a 111,594-square-foot industrial building located at 933 Remington Road in the Chicago suburb of Schaumburg. The sales price was undisclosed. The property, which features modern office finishes, is located within the Woodfield Business Center. Dan Benassi, Dan Jones and Sam Deihs of Entre represented the seller, a private investor who wished to sell the building in advance of a pending lease expiration in early 2024. Phil Reiff of JLL represented the buyer, NBS Corp., which plans to relocate from its current facility in Elk Grove Village.

December 15, 2023

Acquisitions Industrial Oregon Western

BKM Capital Partners Purchases 451,062 SF Industrial Park in Beaverton, Oregon

by Amy Works December 14, 2023

BEAVERTON, ORE. — BKM Capital Partners has acquired 217 Distribution Center, a five-building industrial park in Beaverton, from an institutional investor for an undisclosed price. The 1970s-era property is located at 10950-11065 SW 11th St. Totaling 451,062 square feet, the asset features 13 units ranging in size from 9,945 square feet to 67,459 square feet. The park offers 68 dual dock-high and 12 grade-level loading capabilities, up to 24-foot clear heights and access to 14 railway dock doors. Less than 9 percent of the asset’s total footprint consists of office space. BKM plans to invest $4 million in capital improvements, including upgrading to roofs, parking lots, landscaping, HVAC systems and interiors, as well as updates to the signage and paint scheme. Additionally, improvement plans call for increasing the number of units from 13 to 15 and decreasing the average unit size from 34,697 square feet to 29,975 square feet.

December 14, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 12,159 SF Industrial Lease in Richardson, Texas

by Taylor Williams December 14, 2023

RICHARDSON, TEXAS — Lee & Associates has negotiated a 12,159-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 1601-1651 N. Glenville Drive was constructed in 1984 and totals 40,122 square feet. Jessica Reinhardt and George Tanghongs of Lee & Associates represented the tenant, archaeological services firm AR Consultants Inc., in the lease negotiations. Mark Aston and Mike Fay of Maverick Commercial Real Estate represented the landlord, Technology Properties LLC.

December 14, 2023

Acquisitions Arizona Industrial Office Western

Cushman & Wakefield Brokers Sale of 61,997 SF Industrial/Flex Office Building in Tempe, Arizona

by Amy Works December 14, 2023

TEMPE, ARIZ. — Cushman & Wakefield has arranged the sale of a freestanding flex office building in Tempe. Enzed LLC, a private individual investor, acquired the asset from a global investment advisor for an undisclosed price. Located at 8140 S. Hardy, the 61,997-square-foot building is fully leased to a single tenant. The property features a 11.2/1,000-square-foot parking ratio, 10-foot clear heights and large floor plans. The current tenant’s lease is set to expire in spring 2024. Chris Toci, Eric Wichterman and Mike Coover of Cushman & Wakefield’s capital markets and private capital markets teams in Phoenix represented the seller, while Marcus Muirhead of Lee & Associates represented the buyer. Jerry Roberts and Pat Boyle of Cushman & Wakefield provided leasing advisory for the transaction.

December 14, 2023

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