Industrial

Contegra Underway on Construction of Two Distribution Centers in Kansas City

by Kristin Harlow March 24, 2021

KANSAS CITY, KAN. — Contegra Construction Co. is underway on two distribution centers at the 250-acre Turner Logistics Center in Kansas City. The buildings will add 919,080 square feet and are slated for completion in late summer and early fall. NorthPoint Development is the developer. Each building will feature a clear height of 36 feet. Building II will include 54 dock doors, four drive-in ramps, parking for 284 vehicles and 137 trailers. Building III will feature 37 dock doors, two drive-in ramps and 371 parking spaces. With the completion of these new centers, Turner Logistics Center will total more than 1.3 million square feet across three buildings, all constructed by Contegra. The development has the capacity for 3 million square feet of industrial space.

March 24, 2021

Development Industrial Southeast Tennessee

Dalfen Industrial Purchases Land Near Nashville Airport from FedEx, Plans 739,950 SF Industrial Park

by Julia Sanders March 24, 2021

NASHVILLE, TENN. — Dalfen Industrial has purchased approximately 76 acres in Nashville, directly east of the Nashville International Airport. Dalfen plans to develop the land into Airpark East, a three-building industrial park totaling 739,950 square feet. Memphis-based FedEx was the seller. Airpark East will be located near Murfreesboro Pike and Interstates 24 and 40. The land is situated in close proximity to the Nashville CBD. Over the last 12 months, Dallas-based Dalfen Industrial has transacted on $1.7 billion of real estate in the United States.

March 24, 2021

Illinois Industrial Leasing Activity Midwest

Apparel Retailer AKIRA Signs 352,338 SF Industrial Lease in Bolingbrook, Illinois

by Kristin Harlow March 24, 2021

BOLINGBROOK, ILL. — Apparel retailer AKIRA has signed a long-term lease for a 352,338-square-foot warehouse located at 150 E. Crossroads Parkway in Bolingbrook. AKIRA will use the space for warehouse, fulfillment and e-commerce operations, while its office and headquarters will remain in Chicago. The facility features a clear height of 30 feet and 46 exterior loading docks. It is situated less than one mile from I-55. Noel Liston and Nick Krejci of Darwin Realty/CORFAC International represented AKIRA in the lease transaction and worked with the retailer on the consolidation of several warehouses. Keith Stauber and Steve Ostrowski of JLL represented building ownership.

March 24, 2021

Industrial Leasing Activity Massachusetts Northeast

Stubblebine Negotiates 84,029 SF Industrial Lease in Clinton, Massachusetts

by Taylor Williams March 24, 2021

CLINTON, MASS. — The Stubblebine Co., a locally based brokerage firm, has negotiated an 84,029-square-foot industrial lease at 100 Adams Road in Clinton, located north of Worcester. The property spans 355,000 square feet on a 20-acre tract and features a clear height of 32 feet. David Stubblebine, James Stubblebine, Alan Ringuette and David Skinner of The Stubblebine Co. represented the landlord, a partnership between private equity firm Marcus Partners and investment firm Northbridge Partners, in the lease negotiations. James Lipscomb and Joe Fabiano of CBRE represented the tenant, Tighe Warehousing & Distribution Inc.

March 24, 2021

Development Industrial Mississippi Southeast

Core5 to Develop 957,400 SF Industrial Building Near Memphis

by Julia Sanders March 23, 2021

MARSHALL COUNTY, MISS. — Core5 Industrial Partners plans to develop I-269 Logistics Center, a five-building industrial park in Marshall County totaling 3 million square feet. The Atlanta-based developer acquired 221 acres of fully entitled land located at Highway 302 and Interstate 269 in the Mississippi suburbs of Memphis. Core5 plans to break ground soon on I-269 Industrial Park Building D, a 957,400-square-foot cross-dock facility that is expandable to 1.7 million square feet. Delivery of the building is scheduled for the first quarter of 2022. Building D will feature 40-foot clear heights and a six-inch Ductilcrete slab. The building will accommodate trailer parking for over 391 trailers and 597 auto parking spaces. The site also offers real and personal property tax exemptions for up to 10 years based on job creation and investment.

March 23, 2021

Development Illinois Industrial Midwest

ML Realty Partners to Develop Two Spec Industrial Buildings Totaling 605,300 SF in Bensenville, Illinois

by Kristin Harlow March 23, 2021

BENSENVILLE, ILL. — ML Realty Partners has unveiled plans to develop two speculative industrial buildings totaling 605,300 square feet in Bensenville, a suburb of Chicago. The firm expects to break ground this summer with completion slated for spring 2022. Plans call for clear heights of 40 feet along with ample car and trailer parking. Andrew Maletich, Matt Garland and Dustin Albers of Cawley Chicago represented ML in the land assemblage and will also oversee the lease-up of the buildings.

March 23, 2021

Industrial Leasing Activity Midwest Ohio

Woodpeckers Signs 79,203 SF Industrial Lease in Suburban Cleveland

by Kristin Harlow March 23, 2021

STRONGSVILLE, OHIO — Woodpeckers, a precision woodworking tools company, has signed a 79,203-square-foot industrial lease in Strongsville, a suburb of Cleveland. The newly constructed, speculative facility is located at 14720 Foltz Industrial Parkway within Mills Business Park. Scannell Properties completed development of the 179,578-square-foot building in the fourth quarter of 2020. Terry Coyne of Newmark represented Scannell in the lease transaction. Matthew Beesley of Cushman & Wakefield | CRESCO Real Estate represented Woodpeckers, which is based in Strongsville.

March 23, 2021

Development Industrial Northeast Pennsylvania

J.G. Petrucci, Cabot to Develop 148,960 SF Spec Industrial Project in Souderton, Pennsylvania

by Taylor Williams March 23, 2021

SOUDERTON, PA. — A partnership between J.G. Petrucci Co. and Boston-based Cabot Properties will develop a 148,960-square-foot speculative industrial project in Souderton, located north of Philadelphia in Montgomery County. The property will feature a clear height of 32 feet, 24 loading positions and 24 trailer storage positions. Completion is slated for this fall. Jon Mikula, John Plower and Mike Lachs of JLL arranged the partnership between the two developers.

March 23, 2021

Development Industrial Texas

Hunt Southwest Breaks Ground on 250,000 SF Phase I of Spec Industrial Project in Denton

by Taylor Williams March 22, 2021

DENTON, TEXAS — Dallas-based developer Hunt Southwest has broken ground on Phase I of I-35 Convergence, a speculative industrial project in the North Texas city of Denton that could ultimately feature as much as 500,000 square feet of Class A space. The site is located within Westpark Industrial Park, just northwest of the Interstate 35 East/West split. Building I will span 250,000 square feet and will include 32-foot clear heights and an ESFR sprinkler system. Building II will be a build-to-suit for a user with a 100,000- to 250,000-square-foot requirement. Completion of Building I is slated for December. Colliers International is leasing the project.

March 22, 2021

Acquisitions Arizona Industrial Western

BKM Capital Sells Koll Cotton Center in Phoenix to TerraCap Management for $30.9M

by Amy Works March 22, 2021

PHOENIX — BKM Capital Partners has completed the sale of Koll Cotton Center, a seven-building light industrial park in Phoenix. Naples, Fla.-based TerraCap Management acquired the asset for $30.9 million. Situated on 17.8 acres at 4050 E. Cotton Center Blvd., Koll Cotton Center offers 225,403 square feet of light industrial space within Cotton Center Business Park, a 286-acre mixed-use development. Built in 2000, the property has undergone a multimillion-dollar improvement and enhancement plan that includes speculative suite buildouts, new signage and interior and exterior improvements. At the time of sale, the property was 93 percent leased to 20 tenants. Buildings feature 16- to 18-foot clear heights, ample parking and office finishes. Mark Detmer, Ryan Sitov, Steve Sayre, Mark Gustin and Dave Seeger of JLL Capital Markets represented the seller in the transaction. Additionally, Kevin MacKenzie and Jason Carlos of JLL Capital Markets Debt Placement arranged a $23.2 million, five-year, floating-rate acquisition through an unnamed life insurance company on behalf of TerraCap.

March 22, 2021

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