Industrial

Garden-State-Logistics-Center-Pennsville-Township

Affinius Capital Provides $180M Construction Loan for Southern New Jersey Industrial Project

by Taylor Williams June 13, 2023

PENNSVILLE TOWNSHIP, N.J. — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, has provided a $180 million construction loan for Garden State Logistics Center, a 1.7 million-square-foot industrial development in Pennsville Township. The 282-acre site is located in the southern part of the Garden State along I-295 and adjacent to the Delaware Memorial Bridge. The development will feature separate 1.2 million-square-foot and 500,000-square-foot distribution buildings, both of which will feature 40-foot clear heights and a total of 2,568 car and trailer parking stalls and 276 dock doors. The borrower and developer is a joint venture between PGIM Real Estate and CTR Partners. Delivery is slated for the fourth quarter.

June 13, 2023

Development Indiana Industrial Midwest Top Stories

GM, Samsung SDI to Build $3B Electric Vehicle Battery Plant in Northern Indiana

by John Nelson June 13, 2023

OLIVE TOWNSHIP, IND. — A joint venture between General Motors Co. (NYSE: GM) and Samsung SDI, part of the South Korean-based Samsung Electronics group, plans to build a $3 billion electric vehicle (EV) battery plant in Olive Township. The duo plan to begin operations at the Northwest Indiana plant in 2026. The new facility will house production lines to build prismatic and cylindrical battery cells and is expected to help significantly increase the accessibility and affordability of GM’s line of EVs. Once complete, the plant will support about 1,700 full-time jobs, in addition to 1,000 construction jobs during the build-out. “We are grateful that Samsung SDI can contribute to boosting the economy of Indiana and creating new jobs here,” says Yoonho Choi, president and CEO of Samsung SDI. “Securing Indiana as a strong foothold together with GM, Samsung SDI will supply products featuring the highest level of safety and quality in a bid to help the U.S. move forward to an era of EVs.” GM and Samsung SDI announced their joint venture in April and ultimately selected Olive Township, a city in St. Joseph County near the Indiana-Michigan border and 15 miles west of South Bend, home of Notre Dame …

June 13, 2023

Acquisitions Industrial Southeast Virginia

Cushman & Wakefield | Thalhimer Brokers $24M Sale of Industrial Portfolio Near Port of Virginia

by John Nelson June 12, 2023

CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer has brokered the $24 million sale of the Port of Virginia Distribution Center, a two-building industrial portfolio located in Chesapeake, roughly seven miles outside Norfolk and 13 miles south of Port of Virginia. The buildings, which total 334,881 square feet, were fully leased at the time of sale. Tenants include a Fortune 500 government contractor, third-party logistics firm, food distribution company and defense contractors. Bo McKown, Eric Robison and Ellis Colthorpe of Thalhimer arranged the transaction on behalf of the undisclosed seller. An entity doing business as Chesapeake Industrial Park LLC was the buyer.

June 12, 2023

Acquisitions Industrial Maryland Southeast

Newmark Arranges $20.4M Sale of Distribution Facility in Metro D.C.

by John Nelson June 12, 2023

CAPITOL HEIGHTS, MD. — Newmark has arranged the $20.4 million sale of a distribution facility located at 8700 Ritchie Drive in Capitol Heights. The property, which comprises 103,193 square feet, was fully leased to HD Supply, REW Materials and The General Services Administration (GSA) at the time of sale. Cris Abramson, Ben McCarty and Nicholas Signor of Newmark represented the seller, a joint venture between The Pinkard Group and Principal Asset Management, in the transaction. LBA Realty acquired the property.

June 12, 2023

Development Industrial Texas

ARCO/Murray to Build 972,380 SF Spec Industrial Facility in Grapevine, Texas

by Taylor Williams June 12, 2023

GRAPEVINE, TEXAS — Design-build firm ARCO/Murray will construct a 972,380-square-foot speculative industrial facility in Grapevine, located in the northern-central part of the metroplex. The developer was not disclosed. Phase I will consist of a 200,340-square-foot, rear-load warehouse that will feature 37 dock positions, two drive-in ramps, 119 car parking spaces and 49 trailer parking stalls on a 16-acre site. The building is designed to accommodate up to four tenants. Phase II will include three buildings totaling 772,040 square feet (504,000, 183,040 and 85,000 square feet) with a total of 216 dock positions, eight drive-in ramps and 700-plus car parking spaces on the remaining 72 acres. All necessary approvals have been secured, and construction is set to begin in September.

June 12, 2023

Acquisitions Industrial Self-Storage Texas

JLL Negotiates Sale of 116-Unit Self-Storage Facility in Midland, Texas

by Taylor Williams June 12, 2023

MIDLAND, TEXAS — JLL has negotiated the sale of Atlas Self Storage, a 116-unit facility located in the West Texas city of Midland. The facility spans 18,120 net rentable square feet and was 95 percent occupied at the time of sale. Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza of JLL represented the locally based seller and procured the buyer, KO Storage, in the transaction.

June 12, 2023

Industrial Leasing Activity Texas

Captiv Creative Signs 14,774 SF Industrial Lease in Northwest Houston

by Taylor Williams June 12, 2023

HOUSTON — Video production agency Captiv Creative has signed a 14,774-square-foot industrial lease within Brookhollow West Business Park in northwest Houston. According to LoopNet Inc., the property at 9777 W. Gulf Bank Road was built in 1977, totals 251,569 square feet and features 18-foot clear heights. Jason Gibbons of Finial Group represented the tenant in the lease negotiations. Craig Bean of Transwestern represented the landlord.

June 12, 2023

Acquisitions Industrial New Jersey Northeast

Colliers Brokers Sale of 106,528 SF Industrial Property in Woolwich Township, New Jersey

by Taylor Williams June 12, 2023

WOOLWICH TOWNSHIP, N.J. — Colliers has brokered the sale of a 106,528-square-foot industrial property in Woolwich Township, located in the southern part of the Garden State. Regional investment firm Faropoint sold the asset to an affiliate of DH Property Holdings for an undisclosed price. Marc Isdaner and Ian Richman of Colliers brokered the deal. At the time of sale, the property was fully leased to Diversified Industries, a provider of foam and adhesive products.

June 12, 2023

California Development Industrial Western

North Palisade Partners Acquires Industrial Development Site in Redlands, California for $44.5M

by Jeff Shaw June 12, 2023

REDLANDS, CALIF. — North Palisade Partners has acquired a nearly 17-acre site at 1101 California St. in Redlands for $44.5 million. The site previously housed a waterpark that closed in 2018. North Palisade plans to transform the space into a modern, Class A warehouse distribution facility. Hunter Warner of Lee & Associates represented the buyer and unnamed seller in the transaction.

June 12, 2023

Acquisitions Georgia Industrial Southeast

EverWest Purchases 268,400 SF Industrial Development in Rex, Georgia

by John Nelson June 9, 2023

REX, GA. — EverWest Real Estate Investors has purchased an industrial property located at 9485 Highway 42 North in Rex, roughly 20 miles outside Atlanta. InLight was the developer and seller. Situated on 21.1 acres, the development features two recently completed speculative distribution buildings totaling 268,400 square feet. The buildings span 130,000 and 138,400 square feet, respectively, and feature 32-foot clear heights, LED lighting, ESFR sprinklers, wide columns and 72 dock and four drive-in doors. Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman of JLL arranged the sale.

June 9, 2023

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