Industrial

Midloch Investment Partners, Fountain Real Estate Capital Sell Last-Mile Industrial Facility in Metro Minneapolis for $15.4M

by Kristin Harlow June 1, 2023

BLOOMINGTON, MINN. — Midloch Investment Partners and Fountain Real Estate Capital have sold a 218,899-square-foot, last-mile industrial facility in the Minneapolis suburb of Bloomington for $15.4 million. Buligo Capital purchased the asset, which is located at 9231 Penn Ave. South. Midloch and Fountain acquired the property in January 2022 for $11.2 million, and invested in capital improvements to enhance leasing. Colin Ryan and Dave Berglund of JLL brokered the sale. Last-mile facilities are located close to urban areas and assist with the distribution of goods to consumers or retailers.

June 1, 2023

Acquisitions Industrial New Jersey Northeast

CBRE Brokers $5.5M Sale of Industrial Property in Lodi, New Jersey

by Taylor Williams June 1, 2023

LODI, N.J. — CBRE has brokered the $5.5 million sale of a 24,500-square-foot industrial property in the Northern New Jersey community of Lodi. According to LoopNet Inc., the property at 80 Hancock St. was built on 1.8 acres in 1965 and features six dock doors and one drive-in door. Elli Klapper, Jeremy Wernick, Mark Silverman, Charles Berger, Kevin Dudley, Nick Klacik and Chad Hillyer of CBRE represented the buyer, Prologis, in the transaction. The seller was not disclosed. CBRE has also been retained to market the property for lease.

June 1, 2023

Conference Coverage Features Industrial North Carolina Southeast Southeast Feature Archive

Interstate 85 Corridor Industrial Markets Aren’t Overbuilt Yet, Say InterFace Panelists

by John Nelson June 1, 2023

Interstate 85 traverses through the heart of the Southeast, the fastest-growing region in the United States by way of population. The southern terminus of the 666-mile interstate is in Montgomery, Ala., home of the mega Hyundai Motor Manufacturing Alabama plant, and it travels north to just shy of Richmond, Va., the site of North America’s first LEGO factory. Along the way, I-85 connects through Atlanta and the Carolinas markets of Greenville-Spartanburg, Charlotte, Greensboro and Raleigh-Durham. These I-85 Corridor markets have seen their fair share of industrial development in recent years, so much so that for the first time this cycle, some experts are worried about overbuilding. Steven McGee, vice president of Southeast development at Rockefeller Group, said that half of the nation’s population growth has been coming to the Southeast region, and that faucet isn’t expected to be shut off anytime soon. “America is getting bigger, and half of that growth is occurring in three or four states,” said McGee. “I don’t see any real structural elements that are stopping that growth. It’s a challenge on the timing [for industrial deliveries], but in almost every market we have record vacancy. We have very few options for occupiers coming into the …

June 1, 2023

SouthPoint-Industrial-Park-Mocksville-N.C

Development Industrial North Carolina Southeast

Hollingsworth Begins Construction of 282,733 SF Industrial Development in Mocksville, North Carolina

by Hayden Spiess May 31, 2023

MOCKSVILLE, N.C. — The Hollingsworth Cos. has begun the construction of two industrial buildings totaling 282,733 square feet in Mocksville, roughly 25 miles southwest of Winston-Salem. Situated within SouthPoint Industrial Park, the speculative buildings will total 130,492 square feet and 152,241 square feet, respectively, and will bring the property to a total of 12 single-tenant industrial buildings. Both facilities are being built for long-term lease by light manufacturing or distribution tenants.

May 31, 2023

Development Industrial Texas

Bandera Ventures, Invesco Underway on 1.5 MSF Spec Industrial Project in Wilmer, Texas

by Taylor Williams May 31, 2023

WILMER, TEXAS — A partnership between Dallas-based Bandera Ventures and Atlanta-based Invesco Real Estate is underway on construction of two buildings totaling 1.5 million square feet at Southport Logistics Center, a speculative industrial development in the southern Dallas suburb of Wilmer. Building 1 will total 746,420 square feet, and Building 2 will span 744,452 square feet. Both structures will feature 40-foot clear heights, 60-foot loading bays, 185-foot truck court depths and cross-dock configurations. Completion is slated for the third quarter. JLL is marketing the development for lease.

May 31, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 400-Unit Self-Storage Facility in Houston

by Taylor Williams May 31, 2023

HOUSTON — Marcus & Millichap has brokered the sale of Space City Self Storage, a 400-unit facility located about 10 miles south of downtown Houston. The facility consists of nine buildings that house 225 non-climate-controlled units and 175 climate-controlled units for a total of 57,545 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the deal. The duo also procured the buyer, an Arizona-based REIT. Both parties requested anonymity.

May 31, 2023

Development Industrial Texas

Ironwood Realty Underway on 214,801 SF Industrial Project in Grand Prairie, Texas

by Taylor Williams May 31, 2023

GRAND PRAIRIE, TEXAS — Texas-based developer Ironwood Realty Partners is underway on construction of 360 Crossing @ Red Hawk, a 214,801-square-foot industrial project in the central metroplex city of Grand Prairie. The rear-load, freestanding building will be situated on 12.5 acres and feature 36-foot clear heights, 10 dock-high loading doors, parking for 178 cars and 49 trailers and an ESFR sprinkler system. Delivery is slated for the fourth quarter.

May 31, 2023

Industrial Leasing Activity Texas

Executive Refreshments Signs 19,000 SF Industrial Lease in Metro Dallas

by Taylor Williams May 31, 2023

FARMERS BRANCH, TEXAS — Executive Refreshments, which provides pantry and vending machine stocking and services, has signed a 19,000-square-foot industrial lease at 13703-13707 Gamma Road in the northern Dallas metro of Farmers Branch. Jeff McVaney of Partners Real Estate represented the tenant in the lease negotiations. Chad Albert and D.J. Draper of Stoic Real Estate Partners represented the undisclosed landlord.

May 31, 2023

Marcal-Paper-Factory-Elmwood-Park-New-Jersey

Development Industrial New Jersey Northeast

Crow Holdings Begins Vertical Construction on 206,826 SF Industrial Project in Northern New Jersey

by Taylor Williams May 31, 2023

ELMWOOD PARK, N.J. — Texas-based Crow Holdings has begun vertical construction on a 206,826-square-foot industrial project in Elmwood Park, located in Northern New Jersey’s Bergen County, that is a redevelopment of the former Marcal Paper factory site. Crow Holdings acquired the 11.8-acre site in 2022, three years after a fire destroyed the majority of the historic structure. The new building will house a clear height of 40 feet, 32 loading docks, two drive-in doors and parking for 56 trailers and 198 cars. Construction is slated for a third-quarter completion. JLL is marketing the facility for lease.

May 31, 2023

Connecticut Development Industrial Northeast

Condyne Capital to Develop 185,600 SF Industrial Facility in Windsor, Connecticut

by Taylor Williams May 31, 2023

WINDSOR, CONN. — Metro Boston-based developer Condyne Capital will build a 185,600-square-foot industrial facility in Windsor, a northern suburb of Hartford. The project, which will be situated on a 20.6-acre site, represents an expansion of Condyne’s Baker Hollow Logistics Center. Polar Design Build will handle construction of the building, which will feature a clear height of 32 feet, 36 dock doors, one drive-in door and 45 trailer parking spaces (expandable to 58). Construction is scheduled to begin late this year and be complete in the second quarter of 2024.

May 31, 2023

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