Industrial

Cushman & Wakefield Secures 216,317 SF Industrial Lease at Osprey Logistics Park in Coral Springs, Florida

by John Nelson July 24, 2023

CORAL SPRINGS, FLA. — Cushman & Wakefield has arranged a 216,317-square-foot lease at Osprey Logistics Park, a 427,515-square-foot industrial development currently underway in Coral Springs. Matthew McAllister and Christ Metzger of Cushman & Wakefield’s South Florida Industrial Team represented the landlord and developer, Foundry Commercial, in the leasing negotiations. Steve Wasserman and Erin Byers of Colliers represented the tenant, CTS Engines. CTS Engines will move its headquarters to Building 2 upon completion of the project, which is scheduled for late 2023. The building features 36-foot clear heights, 235-foot building depth, a 180-foot truck court, R-19 insulated roof deck, an ESFR sprinkler system and office space.

July 24, 2023

Development Industrial Oklahoma Texas

Seefried Industrial Underway on 842,043 SF Project for Aerospace Manufacturer in Oklahoma City

by Taylor Williams July 24, 2023

OKLAHOMA CITY — Atlanta-based developer Seefried Industrial Properties, in partnership with Truist Securities, is underway on construction of an 842,043-square-foot, build-to-suit project in Oklahoma City. The new facility will act as a hub for depot support for the military engines of Pratt & Whitney, which are maintained at Tinker Air Force Base. The facility, which is expandable to 942,000 square feet, will feature an 86,000-square-foot office component, and future development plans include an adjacent, 100,000-square-foot training facility. In addition, the main warehouse will offer 40-foot clear heights, up to 120 dock-high doors, six grade-level doors, 515 auto parking stalls (including EV charging spots) and 103 trailer spaces. Construction is slated for a second-quarter 2024 completion.

July 24, 2023

Industrial Leasing Activity Texas

Hobi International Signs 98,489 SF Industrial Lease Renewal in Northwest Dallas

by Taylor Williams July 24, 2023

DALLAS — Hobi International, a provider of mobile asset management services, has signed a 98,489-square-foot industrial lease renewal at 7601 Ambassador Row in northwest Dallas. According to LoopNet Inc. the property was built in 1958 and totals 185,220 square feet. Craig Jones of JLL represented the tenant in the lease negotiations. Sam Abusaad represented the landlord, Chicago-based ML Realty Partners, on an internal basis.

July 24, 2023

Development Industrial Washington Western

Bridge Industrial Acquires 13-Acre Site for Bridge Point Kent 180 Development in Washington

by Jeff Shaw July 24, 2023

KENT, WASH. — Bridge Industrial is expanding its presence in the Pacific Northwest with the acquisition of a 13-acre site at 7730 S. 202nd St. in Kent. The site will eventually house Bridge Point Kent 180, a Class A industrial facility spanning 180,000 square feet. An aluminum smelting plant previously occupied the site, which requires significant environmental remediation due to nearly 40 years of contamination. Bridge plans to demolish the existing structure and conduct extensive cleanup before commencing construction on Bridge Point Kent 180 in the first quarter of 2024. The facility is scheduled for completion by the first quarter of 2025. Bridge Point Kent 180 will cater to a range of tenants, including ecommerce, logistics and cold storage users. The facility will feature 36-foot clear heights, multiple loading doors, trailer parking and car parking. Bridge’s continued expansion in the Seattle region reflects the strong demand for modern, sizable industrial facilities in this market, according to the company.

July 24, 2023

Acquisitions California Industrial Western

Lee & Associates Negotiates $10.7M Sale of Industrial Building in Chatsworth, California

by Jeff Shaw July 24, 2023

CHATSWORTH, CALIF. — Lee & Associates has arranged the sale of a 37,000 square-foot industrial building in Chatsworth. Northwest Industrial Center sold the asset to an undisclosed buyer for $10.7 million. The property is located at 9223 Deering Ave. in the Northpark Industrial Center. Previously serving as the location for a database management company, the site’s location in the San Fernando Valley provides access to major freeways and surrounding hubs. Scott Caswell and Erica Balin of Lee & Associates – LA North/Ventura represented both the buyer and the seller.

July 24, 2023

Development Industrial New Jersey Northeast

Denholtz Properties Completes 40,500 SF Industrial Flex Building in Hamilton, New Jersey

by Taylor Williams July 24, 2023

HAMILTON, N.J. — Locally based developer Denholtz Properties has delivered 800 Horizon Center, a 40,500-square-foot industrial flex building in the Northern New Jersey community of Hamilton. The site is located less than three miles from Exit 7A on the New Jersey Turnpike at the intersection of Interstate 195 and U.S. Route 130. Building features include divisibility to 2,700-square-foot units, a clear height of 26 feet, 15 roll-up doors and roughly 110 car parking spaces. Fennelly Associates has been tapped as the leasing agent as of February 2024.

July 24, 2023

Acquisitions Industrial Midwest Minnesota

PCCP, Capital Partners Acquire Six-Building Industrial Portfolio in Minneapolis

by Kristin Harlow July 24, 2023

MINNEAPOLIS — A joint venture between PCCP and Capital Partners has acquired a six-building light industrial portfolio totaling 690,742 square feet in Minneapolis for an undisclosed price. The properties, built between 2001 and 2014, are 91 percent leased to 15 tenants with an average size of 38,400 square feet and a weighted average lease term of 6.3 years. The portfolio was previously under institutional ownership. Peter Mork and Jason Simek, managing partners of Capital Partners, helped design, develop and lease the portfolio throughout the early 2000s when they previously worked for CBRE.

July 24, 2023

Indiana Industrial Leasing Activity Midwest

Colliers Negotiates Lease-Up of 130,582 SF Industrial Building in Indianapolis

by Kristin Harlow July 24, 2023

INDIANAPOLIS — Colliers has negotiated the lease-up of a 130,582-square-foot industrial building located at 4740 Victory Lane in Indianapolis. BioPlus Specialty Pharmacy Services LLC, a subsidiary of Elevance Health, leased 47,891 square feet. BioPlus provides pharmacy services for patients living with chronic conditions such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases and rheumatology. Hellman Worldwide Logistics signed a lease for 82,691 square feet. Headquartered in Germany, the company is one of the largest international logistics providers with 489 offices in 173 countries. Jimmy Cohoat and Billy Powers of Colliers represented the landlord, Shear Property Group.

July 24, 2023

Development Illinois Industrial Midwest

Principle Construction Completes 21,427 SF Industrial Expansion for Avery Dennison in Mount Prospect, Illinois

by Kristin Harlow July 24, 2023

MOUNT PROSPECT, ILL. — Principle Construction Corp. has completed a 21,427-square-foot office and manufacturing expansion for Avery Dennison in the Chicago suburb of Mount Prospect. The company manufactures retro-reflective sheeting. The project encompasses 11,576 square feet of manufacturing and warehouse space and 9,851 square feet of two-story office space. Cornerstone Architects was the project architect and Vivek Singla of CBRE served as project manager on behalf of Avery Dennison. The facility is located at 902 Feehanville Drive.

July 24, 2023

Acquisitions Development Illinois Industrial Lee & Associates Midwest Self-Storage

Lee & Associates Brokers Sale of Self-Storage Development Site in Bartlett, Illinois

by Kristin Harlow July 24, 2023

BARTLETT, ILL. — Lee & Associates has brokered the sale of a 3.4-acre vacant lot near the southeast corner of West Bartlett Road and Route 25 in the Chicago suburb of Bartlett. The sales price was undisclosed. A new multi-story, self-storage facility is planned for the site. Rick Scardino of Lee & Associates represented the seller, Abbott Land. Dan Lynch of Colliers represented the buyer, Berman-Lapetina.

July 24, 2023

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