CHANDLER, ARIZ. — A joint venture between Conor Commercial Real Estate and WHI Real Estate Partners have completed the disposition of the first phase of Lotus Project to a Chicago-based investment advisor. The acquisition price was not released. Located in Chandler, the newly built industrial park features four state-of-the-art advanced manufacturing and light industrial buildings offering a total of 473,516 square feet. The project is one of the largest Class A industrial parks in Chandler and was 96 percent leased at the time of sale. Each building features 32-foot clear heights, 50-foot by 56-foot column spacing with 56-foot by 60-foot speed bays, 29 truck docks, a 210-foot shared truck court and abundant parking. Additionally, all buildings offer ample power, skylights, six-inch reinforced concrete floors, LED lighting and ESFR sprinkler systems. Recently, the development team broke ground on the second phase of Lotus Project, which will include three industrial buildings totaling nearly 300,000 square feet on a 21-acre site. The new buildings will offer 24-foot to 32-foot clear heights, 60 dock doors, eight drive-in doors, 558 parking spaces and 55-foot speed bays. Will Strong, Jeff Chiate, Jeffrey Cole, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial …
RIFLE, COLO. — Stan Johnson Co. has arranged the sale of an industrial building located at 185 Gemat Circle in the Western Colorado city of Rifle. A Southern California-based private investor acquired the property from Blue Wing Capital Management for $3.1 million. Beacon Roofing Supply, a distributor of residential and non-residential roofing and complementary building products, occupies the 37,864-square-foot facility. Built in 2010 on two acres, the property offers access to Interstate 70 and is approximately one hour northwest of Aspen. David Wirgler of Stan Johnson Co. represented the seller in the deal.
PHILLIPSBURG, N.J. — Bridge Development Partners has unveiled plans for Bridge Point 78 Phase II, an industrial project that will feature two buildings totaling roughly 1.6 million square feet in Phillipsburg, located near Allentown, Pennsylvania. Phase II will consist of a 1.4 million-square-foot building and a 262,500-square-foot building that will feature clear heights of 36 to 40 feet, cross-dock configurations and ample parking for trucks and cars. Preliminary work on the 100-acre site began in December, and vertical construction is expected to begin this summer and to be fully complete in the first quarter of 2022. Phase I of Bridge Point 78 consisted of 2.2 million square feet across four buildings that is leased to Japanese clothing manufacturer and retailer UNIQLO, lawn care manufacturer ScottsMiracle-Gro and beverage distributor Mark Anthony Brands. Bridge Development sold Phase I to PGIM Real Estate in November 2020.
CONSHOHOCKEN, PA. — Green Chef, a meal kit provider that was acquired by HelloFresh in 2018, has signed a 170,160-square-foot industrial lease renewal and expansion in Conshohocken, a northern suburb of Philadelphia. The company’s expanded space is located at 1130 Commerce Blvd., a 386,026-square-foot, cross-dock distribution center that is owned by Indianapolis-based Duke Realty. Dennis Someck and Justin Myers of Lee & Associates represented Green Chef in the lease negotiations. Scott Henderson represented Duke Realty on an internal basis.
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.
Dalfen Industrial Purchases Land Near Nashville Airport from FedEx, Plans 739,950 SF Industrial Park
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.
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.
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.
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.
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.