Industrial

JLL Brokers Sale of 47,915 SF Industrial Property in Malden, Massachusetts

by Taylor Williams September 14, 2021

MALDEN, MASS. — JLL has brokered the sale of a 47,915-square-foot light industrial property in Malden, located north of Boston. Originally built in 1958, the facility was fully leased at the time of sale to Enjet Aero, a provider of custom turbine and jet engine components. JLL represented the seller, Eastern Real Estate, in the transaction. Michael Restivo and Jonathon Schneider of JLL arranged a five-year, fixed-rate acquisition loan through Middlesex Savings Bank on behalf of the buyer, Boston-based Novaya Real Estate Ventures.

September 14, 2021

Development Georgia Industrial Southeast

Seefried Breaks Ground on 800,590 SF Spec Industrial Development in Pendergrass, Georgia

by Julia Sanders September 14, 2021

PENDERGRASS, GA. — Seefried Industrial Properties has broken ground on Valentine 85 Logistics Center Building 2, an 800,590-square-foot speculative industrial building within Valentine Farms in Pendergrass. Located at 500 Valentine Industrial Parkway about 58.5 miles north of Atlanta, the Valentine 85 Logistics Center Building 2 is situated off Interstate 85 between two interchanges at GA Highways 82 and 11, which offers direct access to the building. FCL Builders is the general contractor of the modern bulk distribution center that will feature 40-foot clear heights, 134 trailer spaces expandable to 197, 336 car parking spaces, 153 dock doors and four drive-in doors. The building is slated to open for occupancy in September 2022. Seefried completed Phase I of Valentine 85 Logistics Center, which included an approximately 1 million-square-foot spec building, in August 2018. Hillwood Investment Properties purchased the building in 2018 for an undisclosed price. Doug Smith and Joseph Kriss of Seefried, as well as Scott Plomgren and Harrison Marsteller of Colliers International, will lead marketing efforts of Valentine 85 Logistics Center Building 2.

September 14, 2021

Illinois Industrial Leasing Activity Midwest

Signode Signs 360,709 SF Industrial Lease in Roselle, Illinois

by Kristin Harlow September 14, 2021

ROSELLE, ILL. — Signode has signed a 360,709-square-foot industrial lease at 1600 Central Ave. in Roselle, a northwest suburb of Chicago. Signode, a global manufacturer of packaging and warehouse automation solutions, will open a global flagship facility for its Automation and Packaging Technologies (APT) platform following the completion of tenant improvements at the new site. Originally constructed as a build-to-suit for Sony Corp. in 1994, the building sits on 19 acres and features a clear height of 28 feet, 40 exterior docks and 46 trailer spots. The property is situated within the Turnberry Lakes Business Park, which offers convenient access to I-390 and O’Hare International Airport. Signode will house its APT platform at the new site, including manufacturing for a broad portfolio of equipment and a new, 100,000-square-foot customer experience center. Ron Behm and Jonathan Kohn of Colliers International Chicago represented the landlord, Prologis. Whit Heitman of CBRE represented Signode, which will occupy the entire building.

September 14, 2021

Acquisitions California Industrial Life Sciences Mixed-Use Top Stories Western

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

by John Nelson September 14, 2021

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita. Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million. The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment strategy as it is leased to various distribution users and life sciences firms such as Boston Scientific and Bioness. Oxford aims to have 45 to 60 percent of its assets-under-management portfolio to be in life sciences, industrial and residential real estate by 2025. In addition to distribution and life sciences, Santa Clarita Innovation Park includes some offices, a childcare facility and Wolf Creek Brewery. Additionally, the acquisition includes development rights for approximately 40 acres within the park. “Substantially growing our life sciences and industrial businesses represents our highest conviction investment strategies and top priorities at Oxford,” says Chad Remis, executive vice president of North America at Oxford. “The acquisition of Santa Clarita Innovation Park, and its additional development capacity, uniquely provides us with flexibility to build …

September 14, 2021

Acquisitions Indiana Industrial Midwest

JLL Brokers $114M Sale of 1.5 MSF Distribution Center in Metro Indianapolis

by Kristin Harlow September 13, 2021

FRANKFORT, IND. — JLL Capital Markets has brokered the sale of a 1.5 million-square-foot distribution center in the Indianapolis-area community of Frankfort for $114 million. The facility was completed in 2015 as a build-to-suit for food and beverage maker ConAgra Brands, which fully occupies the property. Building features include a clear height of 34 feet, 125 dock-high doors, four drive-in doors, 853 trailer parking stalls and 10 rail docks serviced by CXS and Norfolk Southern. John Huguenard and Kurt Sarbaugh of JLL represented the seller, Founders Properties LLC. W. P. Carey purchased the 180-acre property.

September 13, 2021

Acquisitions Industrial Kansas Midwest

NAI Martens Arranges $8.6M Sale of Four Airport Hangars in Wichita

by Kristin Harlow September 13, 2021

WICHITA, KAN. — NAI Martens has arranged the sale of four airport hangars at Wichita’s Dwight D. Eisenhower National Airport for $8.6 million. The transaction involved 96,536 square feet across the four hangars, which all include private office space. Steven Martens and Grant Glasgow of NAI Martens represented the undisclosed seller and procured two separate buyers.

September 13, 2021

Acquisitions Industrial Midwest Ohio

Simi Capital Sells Industrial Property in Columbus for $6.1M

by Kristin Harlow September 13, 2021

COLUMBUS, OHIO — Simi Capital has sold a 15-acre industrial property located on Stelzer Road in Columbus for $6.1 million. The institutional buyer plans to continue utilizing the property for industrial parking. Shortly after acquisition of the site, Simi secured the property’s entitlement for industrial use and arranged a long-term lease with CMH Parking and Repair. Simi paid $4.2 million for the site. Ryan Crossley of Kooperman Mentel Ferguson Yaross served as legal representation for Simi. Alex Marsh of The Robert Weiler Co. brokered the sale.

September 13, 2021

Acquisitions Development Georgia Industrial Southeast

Trammell Crow Co., CBRE Global Acquire Land in Pendergrass, Georgia for 2.3 MSF Logistics Development

by Julia Sanders September 13, 2021

PENDERGRASS, GA. — Trammell Crow Co., in a partnership with CBRE Global Investors on behalf of one of its investment funds, has acquired a 287-acre development site in Pendergrass. The seller and sales price were not disclosed. At the site, the firms plan to build a 2.3 million-square-foot, Class A logistics center known as Jackson 85 North Business Park. Located in the metro Atlanta area along Interstate 85 in Jackson County, Jackson 85 North Business Park is located approximately 60 miles northeast of Atlanta and will be developed in two phases. Wilson Hull & Neal Real Estate will handle leasing for the project. Construction on Phase I is expected to begin in December with completion during the second half of 2022. Phase I will include a 538,450-square-foot cross-dock facility and a 1 million-square-foot cross-dock facility. Phase II will include a single 713,050-square-foot cross-dock facility. The construction timeline for Phase II was not disclosed. All three buildings will feature 185- to 190-foot deep concrete exterior truck courts, 40-foot clear heights and ESFR fire sprinklers.

September 13, 2021

Development Industrial Texas

Trammell Crow Breaks Ground on Phase I of 130-Acre Weiser Business Park in Northwest Houston

by Taylor Williams September 13, 2021

HOUSTON — Trammell Crow Co. (TCC) has broken ground on Phase I of Weiser Business Park, a speculative industrial redevelopment project located at the site of a former airport in northwest Houston. The first phase of the 130-acre development will center on the delivery of three buildings totaling 557,490 square feet. The first and smallest building will feature 28-foot clear heights and 128 vehicle parking spaces. The second and third buildings will both span more than 200,000 square feet and offer 32-foot clear heights while also having nearly 500 combined parking spaces. Completion of Phase I is scheduled for the second quarter of 2022. TCC has tapped Lee & Associates to lease the buildings. Construction of a fourth building that will span approximately 520,000 square feet and have 36-foot clear heights is set to begin early next year.

September 13, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 181,067 SF Industrial Lease Extension in Houston

by Taylor Williams September 13, 2021

HOUSTON — Newmark has negotiated a 181,067-square-foot industrial lease extension at Building 11 within Central Green Business Park in Houston. John Luck, Griffin Rich, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Joshua Brown and Trace Elrod of Newmark represented the tenant, GAC Energy & Marine Services, in the lease negotiations. Liberty Property Co. owns the facility.

September 13, 2021

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