Industrial

Three New Tenants Sign Leases Totaling Nearly 67,000 SF at JAG Logistics Center Industrial Park in Aurora, Colorado

by Madison Pettway August 10, 2021

AURORA, COLO. — JAG Logistics Center @ Den, a 265-acre industrial park being developed south of Denver International Airport in Aurora, has added three new tenants to the recently completed Trade 2 building. The 188,000-square-foot asset is owned, managed and developed by JAGreen Development. The warehouse space features mezzanine level office space, on-site trailer parking and cross dock design. MAI Mechanical, a mechanical and plumbing subtractor, leased 16,390 square feet of space at the Trade 2 building. TruTeam, an installer of insulation and building products, leased 24,830 square feet. General Logistics Systems US Inc., a logistics and delivery company, leased 25,480 square feet. Cushman & Wakefield’s Aaron Valdez, Alec Rhodes and Tyler Smith represented the landlord in each transaction. Trade 1, also totaling 188,000 square feet, is already 100 percent leased.

August 10, 2021

Acquisitions Industrial Self-Storage Texas

Chatham Lodging Trust Acquires Two Marriott-Branded Hotels in Austin for $71.2M

by Taylor Williams August 10, 2021

AUSTIN, TEXAS — Chatham Lodging Trust (NYSE: CDLT) has acquired two Marriott-branded hotels totaling 269 rooms near The Domain in North Austin for $71.2 million, or approximately $265,000 per room. The purchased hotels include the 132-room Residence Inn Austin Domain that opened in July 2016 and the 137-room TownePlace Suites by Marriott that opened in June 2021. Island Hospitality Management will manage the hotels. The seller(s) was not disclosed.

August 10, 2021

Acquisitions Industrial Self-Storage Texas

Bellomy Negotiates Sale of 609-Unit CubeSmart Self-Storage Facility in Irving

by Taylor Williams August 10, 2021

IRVING, TEXAS — Bellomy & Co. has negotiated the sale of a 609-unit self-storage facility in Irving that is operated by Pennsylvania-based REIT CubeSmart. The property features 66,698 net rentable square feet and was 97 percent occupied at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based entity doing business as 3450 Willow Creek LLC, and procured the buyer, New York-based Andover Properties.

August 10, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 597-Unit Self-Storage Facility in Metro Houston

by Taylor Williams August 10, 2021

TOMBALL, TEXAS — Marcus & Millichap has brokered the sale of a 597-unit facility located in the northern Houston suburb of Tomball. The property was built on 5.5 acres in 1998, consists of 70,100 net rentable square feet and features a relatively even mix of climate- and non-climate-controlled space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a family trust, in the transaction. A California-based corporation purchased the asset for an undisclosed price.

August 10, 2021

Acquisitions Industrial Northeast Pennsylvania

Dalfen Industrial Acquires 572,800 SF Portfolio in Lehigh Valley

by Taylor Williams August 10, 2021

LANCASTER AND ELIZABETHTOWN, PA. — Dallas-based development and investment firm Dalfen Industrial has acquired a portfolio of two facilities in the Lehigh Valley area totaling 572,800 square feet. The newly built Lancaster property spans 252,800 square feet, and the Elizabethtown asset totals 320,000 square feet and was built in 2018. Both facilities offer high clear heights, ample parking spaces and modern office spaces to appeal to e-commerce users. Robert Yoshimura and Joseph Hill of Lee & Associates brokered the transaction. The seller was not disclosed.

August 10, 2021

Acquisitions Development Industrial New Jersey Northeast

AMS Acquisitions Buys Multifamily Development Site in East Brunswick, New Jersey, for $5.1M

by Taylor Williams August 10, 2021

EAST BRUNSWICK, N.J. — New York-based investment firm AMS Acquisitions has purchased a seven-acre multifamily development site in East Brunswick, about 35 miles south of New York City, for $5.1 million. The company plans to construct a 96-unit complex that will consist of 24 affordable units and 72 market-rate units across four buildings. Amenities will include a clubhouse, fitness center, tenant lounge, dog run and a playground. A Cushman & Wakefield team led by Brian Whitmer, Ryan Dowd and Peter Welch represented the seller, a joint venture between the Hampshire Cos. and Diversified Realty Advisors, and procured AMS Acquisitions as the buyer.

August 10, 2021

Acquisitions Illinois Industrial Midwest

Boulder Group Brokers $8.9M Sale of Net-Leased Industrial Property in Metro Chicago

by Kristin Harlow August 10, 2021

NORTHBROOK, ILL. — The Boulder Group has brokered the $8.9 million sale of a single-tenant, net-leased industrial property in Northbrook, a northern suburb of Chicago. The 117,000-square-foot building is situated within the 1.8 million-square-foot Sky Harbor Industrial Park. Located at 3411 Woodhead Drive, the facility is fully leased to Atlas Fibre and recently underwent $2.1 million in improvements. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a local real estate owner. Buyer information was undisclosed.

August 10, 2021

Megan Eckart Baird Datacenter Development

Bohler Content Partner Data Centers Development Features Industrial Midwest Northeast Southeast Texas Western

Data Center Development Download: What Makes a Great Site?

by Sarah Daniels August 10, 2021

As more aspects of our lives become digital, the need for data centers is increasing exponentially. COVID fast-tracked the upsurge in data center demand, as businesses worldwide transferred communications and operations to digital platforms — but the need for data centers is permanent. “With an increase in devices needing to connect to each other and the Internet of Things (IOT), the amount of data needed to do this will always be growing, furthering the demand for additional space within data centers,” says Megan Baird, Professional Engineer (PE), a senior project manager at Bohler, a land development consulting and technical design firm. Getting the right space with the right zoning, utilities and market timeline can be a daunting task that requires extensive planning. Baird says three major factors determine whether a site is a prime data center opportunity: utilities, zoning and space. Plus, Baird explains how to get a property to market once the planning is done. [box style=”4″] What’s Available to Help Developers Tax incentives vary by state and locality and can depend on the number of jobs created, equipment used or amount of money invested. Overlay districts are a regulatory tool where jurisdictions specify additional restrictions/allowances in addition to …

August 10, 2021

Acquisitions Colorado Healthcare Illinois Industrial Life Sciences Midwest Office Top Stories Western

NexCore, Nuveen Acquire National Medical Office and Life Sciences Portfolio for $620.4M

by John Nelson August 10, 2021

CHICAGO AND DENVER — NexCore Group, a national healthcare real estate developer and owner, has teamed up with global investment management firm Nuveen Real Estate to acquire a portfolio of 27 medical office and two life sciences buildings spanning nearly 1.2 million square feet. IRA Capital, a private equity firm based in Southern California, sold the portfolio in two transactions totaling $620.4 million. The portfolio spans 13 states: Arizona, California, Florida, Illinois, Michigan, North Carolina, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Texas and Wisconsin. The medical office properties comprise ambulatory surgery centers, micro-hospitals, freestanding emergency departments and single- and multi-tenant clinics. The properties were 99 percent leased at the time of sale to 38 tenants, the vast majority of which are well-established healthcare systems. The medical office buildings sold for about $463 million, according to NexCore, which will manage the facilities moving forward. Allianz Real Estate provided $234 million in acquisition financing on behalf of NexCore and Nuveen for the medical office portfolio. The financing is structured on a seven-year term with both a fixed-rate tranche totaling $163.8 million and a floating-rate tranche totaling $70.2 million. Chicago-based Nuveen is using equity for the medical office assets via its newly launched U.S. Cities …

August 10, 2021

Development Florida Industrial Southeast

Seefried Industrial Properties to Develop 1.1 MSF Building in Port St. Lucie, Florida

by Julia Sanders August 9, 2021

PORT ST. LUCIE, FLA. — Seefried Industrial Properties is developing a 1.1 million-square-foot build-to-suit warehouse facility in Port St. Lucie for Amazon. The project, which is dubbed Project Midway, is being constructed on 110 acres at Midway Business Park along West Midway Road near Interstate 95. The property will feature tilt-up concrete wall panels, a little over 1 million square feet of warehouse space, 32,457 square feet of office and social space, 1,000 employee parking spaces and 390 trailer stalls. Amazon says the company will hire around 500 full-time employees at its new location, according to the Commercial Observer. Construction is expected to begin late fall 2021 with completion slated for summer 2022. The Conlan Co. is serving as general contractor, Ford & Associates is the architect and Kimley-Horn is the civil engineer for Project Midway.

August 9, 2021

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