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Industrial

Wilkinson Mill Logistics
AcquisitionsGeorgiaIndustrialSoutheast

Lee & Associates Brokers Sale of 30.2 Acres in Palmetto, Georgia

by Julia Sanders

PALMETTO, GA. — Lee & Associates brokered the sale of 30.2 acres in Palmetto. Lee & Associates represented the buyer, a fund managed by a subsidiary of Ares Management Corp. The seller and price were not disclosed. On the purchased land, Ares Management Corp. plans to build Wilkerson Mill Logistics Center, a Class A industrial distribution facility totaling approximately 375,000 square feet. Wilkerson Mill Logistics Center will be a rear-loading facility with features including 36-foot minimum ceiling clear height, ample car and onsite trailer parking, ESFR sprinkler systems, LED lighting with motion sensors and dock packages. Located in Fulton County, the site is 3.5 miles from the CSX Fairburn Intermodal facility and 15.6 miles from Hartsfield-Jackson Atlanta International Airport. Construction for the project is slated for completion by the third quarter of 2022.

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AcquisitionsIllinoisIndustrialMidwestOhio

Colliers Brokers Sale of 2.4 MSF Industrial Portfolio Across Three Markets

by Kristin Harlow

CHICAGO, CINCINNATI AND MEMPHIS, TENN. — Colliers International has brokered the sale of a four-building industrial portfolio spanning 2.4 million square feet for approximately $200 million. The Class A assets are located in the Chicago, Cincinnati and Memphis markets. Jeff Devine, Steve Disse, Tyler Ziebel and Alex Cantu of Colliers represented the seller, IDI Logistics. Canadian-based Granite REIT was the buyer. The Chicago-area property is located in Antioch, Ill. Constructed in 2015, the building spans 454,276 square feet with a clear height of 36 feet, parking for 139 cars and 136 trailers. The property is fully leased to two tenants. The two Memphis-area assets are located just over the state border in Olive Branch, Miss. The first facility is located at 12577 Stateline Road and spans 408,197 square feet. Built in 2016, the property features a clear height of 32 feet and is fully leased. The second building is located at 8740 S. Crossroads Drive and spans 861,252 square feet. Built in 2014, the facility features a clear height of 32 feet and is fully leased to three tenants. The Cincinnati-area facility spans 678,363 square feet. The fully leased building was constructed in 2007 and offers a clear height of …

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AcquisitionsIndianaIndustrialMidwest

JLL Negotiates $43M Sale of Distribution Center Near Indianapolis

by Kristin Harlow

MOORESVILLE, IND. — JLL Capital Markets has negotiated the $43 million sale of Westpoint II, a 507,600-square-foot distribution center in the Indianapolis-area community of Mooresville. Deckers Outdoors Corp. (NYSE: DECK), a lifestyle and footwear retailer, fully occupies the facility. Completed this year, the building features a clear height of 36 feet and 50 dock-high doors. It is situated within Westpoint Business Park, a 550-acre development that will feature more than 9 million square feet of Class A industrial product upon full buildout. John Huguenard, Ed Halaburt and Brian Seitz of JLL represented the seller, Ambrose Property Group LLC. Cambridge Holdings was the buyer.

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DevelopmentIndustrialTexas

Dalfen Industrial Acquires 146 Acres in Northeast Austin for 1 MSF Project

by Taylor Williams

AUSTIN, TEXAS — Dallas-based Dalfen Industrial has acquired 146 acres in northeast Austin for the development of an approximately 1 million-square-foot project. The development will be located at the site of the former Manor Downs horse racetrack, about eight miles from the downtown area and 10 miles from Austin-Bergstrom International Airport. The project will consist of six buildings that will range in size from 70,000 to 365,560 square feet and will feature 32- to 36-foot clear heights. Construction is scheduled to begin in the third quarter of next year.    

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IndustrialLeasing ActivityTexas

Good Sportsman Marketing Signs 494,238 SF Industrial Lease in Dallas

by Taylor Williams

DALLAS — Good Sportsman Marketing, a designer and distributor of branded hunting accessories, has signed a 494,238-square-foot industrial lease at Passport Logistics Center in Dallas. The development spans 1.2 million square feet across three buildings and is located on the city’s north side. Blake Kendrick and Charles Brewer with Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Sarah Ozanne, also with Stream, represented the tenant.

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AcquisitionsIndustrialNortheastPennsylvania

Novaya Foxfield Industrial Buys Philadelphia Facility for $8.5M

by Taylor Williams

PHILADELPHIA — Novaya Foxfield Industrial, the Mid-Atlantic investment arm of Novaya Real Estate Ventures and Foxfield Ventures, has purchased a 360,800-square-foot industrial facility in Philadelphia for $8.5 million. Novaya Foxfield purchased the nine-building complex from metals processor and recycler Thalheimer Brothers LLC, which will retain occupancy of the space via a 20-year sale-leaseback agreement. Steve Marzullo, Adam Silverman, Bruce Westwood-Booth and Kyle Sals of CBRE brokered the deal.

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DevelopmentIndustrialKentuckySoutheastTennesseeTop Stories

Ford Plans $11.4B in Electrical Vehicle Manufacturing Developments in Tennessee, Kentucky

by Jeff Shaw

STANTON, TENN., AND GLENDALE, KY. — Ford (NYSE: F) has unveiled plans to build Blue Oval City, a massive manufacturing campus for its electric vehicles in the tiny town of Stanton, approximately 50 miles northeast of Memphis and with a population of fewer than 500 people. In addition, the car builder is planning the BlueOvalSK Battery Park manufacturing campus in Glendale, approximately 50 miles south of Louisville, to produce the lithium-ion batteries that power those electric vehicles. Ford estimates development costs for Blue Oval City at $5.6 billion and BlueOvalSK Battery Park, which will comprise two separate manufacturing facilities, at $5.8 billion. Both plants are scheduled to begin production in 2025. The auto maker predicts the Stanton location will create 6,000 jobs, while the Glendale location will create 5,000 jobs. Blue Oval City will span 3,600 acres — nearly six square miles — and focus on producing F-Series electric pickup trucks. The company noted that it will work with Redwood Materials on domestic battery recycling and that the facility will be carbon neutral, producing zero landfill waste once fully operational. In addition to the new plant, Ford said it will make a new investment to increase production of the F-150 …

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CaliforniaGeorgiaIllinoisIndustrialLoansSoutheastTennessee

PGIM Real Estate Provides $250M Acquisition Financing for Five-State Core Logistics Portfolio

by Julia Sanders

SANTA MONICA, CALIF. — PGIM Real Estate has provided $250 million in fixed-rate debt to Santa Monica-based GLP Capital Partners LP. The funds will be used to acquire a five-property core logistics portfolio located across Atlanta, Dallas-Fort Worth, Chicago, Memphis and California’s Central Valley. All five of the properties were acquired on behalf of GLP Capital Partners IV, a closed-end, discretionary private equity fund. The portfolio is fully leased to four nationally recognized companies, all of which are investment grade credit tenants, according to PGIM. The seller and price were not disclosed. The five properties total 3.2 million square feet and are located within an average of one mile from each region’s primary transportation arteries.

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Euclid-Industrial-Park-Chino-CA
CaliforniaDevelopmentIndustrialWestern

Alere Property Breaks Ground on Two Spec Industrial Parks in Chino, California

by Amy Works

CHINO, CALIF. — Alere Property Group has broken ground on the construction of two industrial warehouse facilities in Chino. The two developments will bring more than 626,000 square feet of speculative industrial space to the area. Located at the northeast corner of Bickmore and Euclid avenues, the eight-building Euclid Industrial Park will offer 360,000 square feet of space in buildings ranging from 13,050 square feet to 206,118 square feet. Completion is slated for August 2022. Ken Andersen, Eric Fikse and Richard John of Daum Commercial represented Alere in the 18.6-acre land acquisition for the project. The Daum team will also oversee leasing of the development. Chino Commerce Park, situated on 13 acres at the northwest corner of East End Avenue and County Road, will consist of four buildings offering a total of 266,348 square feet. The park will include a 210,747-square-foot building with 36-foot clear heights and three smaller buildings ranging from 15,104 square feet to 25,177 square feet with 26-foot clear heights. Tim Pimental, Chris Tolles, Eric Larson and Robin Dodson of Cushman & Wakefield represented Alere in the land acquisition for the development and will oversee leasing of the project, which is slated for completion in May 2022.

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Harvill-Logistics-Center-Riverside-County-CA
AcquisitionsCaliforniaIndustrialWestern

CH Realty, Blumenfeld Development Buy Harvill Logistics Center in Inland Empire for $57.5M

by Amy Works

PERRIS, CALIF. — Rockefeller Group has completed the disposition of Harvill Logistics Center, a newly constructed industrial property in the Riverside County city of Perris. CH/BDG Harvill LLC, a joint venture between CH Realty Partners and Blumenfeld Development Group, purchased the asset for $57.5 million. The building features 333,553 square feet of industrial space. Rockefeller Group acquired approximately 30 acres of property in Riverside County for the development of two projects totaling 623,109 square feet in September 2020. The second project, a 289,556-square-foot speculative distribution building, Val Verde Logistics Center, was recently completed. Herdman Architecture + Design designed the project and RM served as general contractor. Bill Heim and Alex Heim of Lee & Associates represented the seller, while Tom Taylor and Steve Bellitti of Colliers represented the buyer in the deal.

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