Industrial

CA Industrial, DWS/RREEF Break Ground on 1.5 MSF Luke Logistics Center in Glendale, Arizona

by Amy Works November 12, 2021

GLENDALE, ARIZ. — CA Industrial, in joint venture partnership with DWS/RREEF, has broken ground for the first phase of Luke Logistics Center at the northwest corner of Loop 303 and Glendale Avenue in Glendale. Situated on 90 acres, the four-building project features a total of 1.5 million square feet of industrial space. Each building will feature 32-foot to 40-foot clear heights, cross-dock and rear loading with 185-foot-deep gated truck courts, trailer storage, ample car parking, ESFR sprinkler systems and 60-foot speed bays. LGE Design Build is serving as the project’s designer and builder. John Lydon and Hagen Hyatt of JLL will handle leasing of the property.

November 12, 2021

Development Illinois Industrial Midwest

Summit Design + Build Completes Warehouse Expansion for TLC Ingredients in Illinois

by Kristin Harlow November 12, 2021

CREST HILL, ILL. — Summit Design + Build has completed construction of a 55,012-square-foot expansion for TLC Ingredients in Crest Hill near Joliet. The warehouse for the food ingredients and industrial products distributor previously spanned 44,000 square feet. The expansion includes new warehouse and cold storage space along with four new loading docks, a breakroom and additional parking stalls. Harris Architects Inc. was the project architect.

November 12, 2021

Development Industrial Southeast West Virginia

Joint Venture Breaks Ground on 730,000 SF Tabler Station Logistics Park in Martinsburg, West Virginia

by Julia Sanders November 11, 2021

MARTINSBURG, WV. — Hines, along with an investor advised by MetLife Investment Management, MetLife, Inc.’s institutional asset management business, has broken ground on the first phase for Tabler Station Logistics Park, which will feature a total of over 730,000 square feet in Martinsburg. Located close to Interstate 81 on a 145-acre site, the first phase of Tabler Station Logistics Park will include two Class A, industrial buildings with each building consisting 365,400 square feet. Both buildings will feature 40-foot clear heights at first column, cross-dock configuration with 450-foot building depths, 185-foot-deep truck courts and full-building circulation with segregated car and trailer traffic. Construction on Phase I of the project is slated for completion by the fourth quarter of 2022. The overall project will feature three buildings with approximately 1.6 million square feet of industrial space. Powers Brown Architects and Pennoni Engineering designed the project. RS Mowery will construct Phase I of the development. Wells Fargo is providing an undisclosed amount of construction financing. Chuck Watters, Tom Griggs, John Carroll, Julia Craig and Eric Mitman of Hines worked on the development team for the project.

November 11, 2021

Development Industrial Texas

Stonemont Financial Breaks Ground on 485,680 SF Industrial Project in Fort Worth

by Taylor Williams November 11, 2021

FORT WORTH, TEXAS — Stonemont Financial Group has broken ground on DFW Point35, a 485,680-square-foot industrial project located less than three miles from the AllianceTexas master-planned community in Fort Worth. The development will consist of two rear-load warehouses totaling 218,400 and 267,280 square feet. Building features include 32-foot clear heights, ample car and trailer parking and contemporary office space. Completion is slated for summer 2022. Lee & Associates is marketing the property for lease.

November 11, 2021

Alabama Development Industrial Southeast

Amazon Plans to Build Four Operations Sites in Alabama

by Julia Sanders November 11, 2021

HUNTSVILLE, MONTGOMERY AND BIRMINGHAM, ALA. — Seattle-based Amazon.com Inc. (NASDAQ: AMZN) has unveiled plans to build four new operations sites in Huntsville, Montgomery and Birmingham. The company will build two new fulfillment centers in Huntsville, a receiving center in Montgomery and a delivery station in Birmingham. In Huntsville, Amazon recently opened a fulfillment center that allows Amazon employees to pick, pack and ship larger items to customers, such as bulk paper goods, outdoor equipment or rugs. Additionally, the 1 million-square-foot facility uses technologies and energy-efficient, zero-emission power industrialized truck (PIT) equipment. In 2022, Amazon plans to open another new fulfillment center in Huntsville. The 1 million-square-foot facility will be designed to receive, store and package heavy or bulky items like home appliances and will also use advance technologies and energy-efficient PIT equipment. The facility will provide more than 250 full-time jobs, according to Amazon. Also in 2022, Amazon plans open an inbound cross-dock facility in Montgomery. The 650,000-square-foot facility will be used to receive and consolidate items from vendors and facilitate shipment to fulfillment centers. The property will provide more than 500 full-time jobs, according to the retailer. Lastly, Amazon plans to break ground on a new Birmingham delivery station …

November 11, 2021

Industrial Loans South Carolina Southeast

Ready Capital Closes on Acquisition Loan for 235,000 SF Industrial Property in Greenville

by Julia Sanders November 11, 2021

GREENVILLE, S.C. — Ready Capital has closed on a $6.6 million financing for the acquisition, renovation and stabilization of a 20-bay, 235,000-square-foot, Class B industrial property in the South/Donaldson submarket of Greenville. The loan is a non-recourse, interest-only, floating-rate loan with a 36-month term and two extension options. The financing includes a facility to provide future funding for capital expenditures, tenant leasing costs and interest and carry shortfalls. Upon acquisition, the property will receive cosmetic updates. The buyer and seller were not disclosed.

November 11, 2021

Acquisitions Industrial New York Northeast

Colliers Negotiates $9.2M Sale of Long Island Industrial Building

by Taylor Williams November 11, 2021

SHIRLEY, N.Y. — Colliers International has negotiated the $9.2 million sale of a 61,916-square-foot industrial building in the Long Island community of Shirley. The sales price equates to $149 per square foot. The building is leased to rubber products supplier Frank Lowe for the next five years. Jordan Baruch and Matthew Kucker of Colliers represented the buyer, Port Washington, N.Y.-based BEB Capital, in the transaction. Jason Maietta, Tommy Rosati and Brandon Lichtenstein, also with Colliers, represented the seller, Warco LLC, a real estate entity affiliated with Frank Lowe.

November 11, 2021

Industrial Loans New Jersey Northeast

Ready Capital Closes $5M Acquisition Loan for Industrial Property in Garfield, New Jersey

by Taylor Williams November 11, 2021

GARFIELD, N.J. — New York City-based Ready Capital has closed a $5 million loan for the acquisition and stabilization of an 11-bay industrial property in Garfield, located in Bergen County. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term and two extension options. The undisclosed sponsor plans to implement a capital improvement program at the property.

November 11, 2021

Acquisitions Industrial Nevada Western

RDS Investments Buys 33,430 SF Industrial Property in Henderson, Nevada

by Amy Works November 11, 2021

HENDERSON, NEV. — RDS Investments & Developments has acquired an industrial building located within Gibson Business Plaza at 149 and 145 N. Gibson Road in Henderson. Gibson BP LLC sold the asset for an undisclosed price. The property offers 33,430 square feet of industrial space. Brian Riffel and Tyler Jones of The Riffel Jones Industrial team at Colliers International represented the seller in the deal.

November 11, 2021

Illinois Industrial Leasing Activity Midwest

3M Signs 410,000 SF Industrial Lease Renewal in DeKalb, Illinois

by Kristin Harlow November 11, 2021

DEKALB, ILL. — Multinational conglomerate 3M has signed a 12-year lease renewal for its 410,000-square-foot distribution hub in DeKalb, about 65 miles west of Chicago. The property is located at 1211 Fairview Drive. Jenny Aust Turner of Cresa represented 3M in the lease. Modiv Inc., a California-based REIT, is the building landlord.

November 11, 2021

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