Industrial

Automotive Retailer to Open $30M Fulfillment Center, Dealership in Tampa Bay Area

by Julia Sanders March 4, 2021

BRANDON, FLA. — HGreg.com, a pre-owned automotive retailer, has expanded to a 10-acre property in the Tampa Bay Area. The retailer plans to open its new regional fulfillment center and dealership in Brandon this spring. Construction costs are estimated at more than $30 million. Located at 1207 E Brandon Blvd. in Hillsborough County, the new facility will feature a 42,000-square-foot building, a showroom and an inventory of more than 1,000 pre-owned vehicles. The new property will allow HGreg.com to expand its service offering, both digital and onsite, to car buyers throughout Central and West Coast Florida, as well as out-of-state markets. HGreg.com plans to fill 90 jobs in its new facility. HGreg.com is part of HGregoire, a network of 17 pre-owned and 13 new car dealerships throughout Canada and the United States. In December 2020, the company announced the expansion of HGreg.com into the West Coast with a major investment based in the Greater Los Angeles area.

March 4, 2021

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 140,548 SF Industrial Complex in Woodland Park, New Jersey

by Taylor Williams March 4, 2021

WOODLAND PARK, N.J. — Cushman & Wakefield has brokered the sale of Lackawanna Business Park, a 140,548-square-foot industrial complex located at 86 Lackawanna Ave. in Woodland Park in the northern part of the state. The sales price for the three-building complex was $10.2 million. Andrew Schwartz, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso and Jordan Sobel of Cushman & Wakefield represented the seller, Lackawanna Associates LLC, and procured the buyer, Lackawanna Woodland LLC.

March 4, 2021

Tolleson-107-Logistics-Center-Tolleson-AZ

Arizona Development Industrial Western

Trammell Crow, Clarion Partners Acquire 25-Acre Site for Tolleson 107 Logistics Center in Arizona

by Amy Works March 4, 2021

TOLLESON, ARIZ. — The Phoenix business unit of Trammel Crow, in partnership with Clarion Partners, has purchased a 25-acre site for the development of Tolleson 107 Logistics Center. Terms of the acquisition were not disclosed. Located in Tolleson, the 332,075-square-foot logistics facility will include 4.6 acres dedicated to retail space. Butler Design Group designed the asset, which will feature 36-foot clear heights, concrete truck courts, four point of access, 52-foot by 52-foot column spacing with 60-foot speed bays, 266 car parking stalls, 54 trailer parking stalls and an ESFR sprinkler system. Groundbreaking is slated for April, with tenancy ready by year-end. Phil Haenel, Andy Markham and Mike Haenel of Cushman & Wakefield are handling leasing of the project.

March 4, 2021

LogistiCenter-Park-Meridian-Riverside-CA

California Industrial Leasing Activity Western

Global One Logistics to Occupy 262,260 SF LogistiCenter at Park Meridian in Riverside, California

by Amy Works March 4, 2021

RIVERSIDE, CALIF. — Global One Logistics has inked a deal to lease LogistiCenter at Park Meridian in Riverside. The third-party warehousing and distribution specialist serving the home fashion and apparel industry will occupy the Class A building located at 21822 Opportunity Way in the Inland Empire East submarket. The property totals 262,260 square feet. Phil Lombardo, Chuck Belden, Andrew Starnes and Cruise Adams of Cushman & Wakefield represented the landlord, Dermody Partners, in the lease.

March 4, 2021

California Company News Industrial Western

CapRock Partners Transacts 10 MSF of Industrial Real Estate, Opens Two Offices During 2020

by Amy Works March 4, 2021

NEWPORT BEACH, CALIF. — CapRock Partners has acquired, leased or sold nearly 10 million square feet of industrial space across the Western United States and opened two offices in Phoenix and Northern California, welcoming 26 new employees, according to the Newport Beach-based firm. CapRock Partners signed 10 leases totaling more than 5.3 million square feet; acquired eight properties and land sites totaling 4.2 million square feet; and sold 196,534 square feet across two properties. Additionally, an institutional investor retained the company to manage a six-asset, 1.9 million-square-foot industrial real estate portfolio that spans four markets. These transactions bring CapRock’s total investment, development and asset management pipeline to more than 25 million total square feet since inception in 2009. On the development side, the company completed more than 4.1 million square feet of Class A industrial product across the Las Vegas basin and Inland Empire, including the 3 million-square-foot Commerce Center in Ontario, California, which CapRock developed on behalf of Ivanhoé Cambridge. Since March 2020, the company started construction of an additional 2.8 million square feet and successfully received entitlements for over 3 million square feet in multiple projects across the Inland Empire. This brings CapRock’s total either recently constructed or …

March 4, 2021

Southeast-Phoenix-Distribution-Center-Chandler-AZ

Acquisitions Arizona Industrial Western

JLL Income Property Trust Buys Southeast Phoenix Distribution Center for $91M

by Amy Works March 3, 2021

CHANDLER, ARIZ. — JLL Income Property Trust has purchased Southeast Phoenix Distribution Center, a Class A distribution center located in Chandler, for $91 million. Constructed in 2019, the four-building campus features 474,000 square feet of space that can accommodate a wide range of tenants, ranging from 20,000 square feet to 135,000 square feet. The buildings offer 32-foot clear heights, ESFR sprinkler systems, grade- and dock-high doors and full concrete truck courts with fencing. The asset is situated at the confluence of Interstate 10 and Loop 202, 15 minutes from Sky Harbor International Airport and 20 minutes from downtown Phoenix.

March 3, 2021

California Development Industrial Western

CT Realty, Clarion Partners Break Ground on 145,840 SF South Bay Logistics Center in Carson, California

by Amy Works March 3, 2021

CARSON, CALIF. — CT Realty and Clarion Partners have commenced construction of South Bay Logistics Center, a Class A industrial facility in Carson. Located at 333 W. Gardena Blvd., the single-tenant, 145,840-square-foot building will feature 25 dock-high positions, 36-foot clear heights, a 144-foot secure truck yard, an ESFR K-25 sprinkler system, 5,500 square feet of modern two-story office space and ample parking. Completion is slated for this fall. Danny Williams, Barry Hill and John McMillan of Newmark are listing agents for the project.

March 3, 2021

Acquisitions Industrial New Jersey Northeast

Elion Partners Buys Industrial Property in Elizabeth, New Jersey, for $29.7M

by Taylor Williams March 3, 2021

ELIZABETH, N.J. — Miami-based investment firm Elion Partners has purchased a 207,000-square-foot industrial property in the Northern New Jersey city of Elizabeth that is located approximately two miles from Newark Liberty International Airport. The sales price $29.7 million. According to LoopNet Inc. the property was built on 8.6 acres in 1948 and renovated in 2019. The seller was not disclosed.

March 3, 2021

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates 130,000 SF Industrial Lease in Lodi, New Jersey

by Taylor Williams March 3, 2021

LODI, N.J. — CBRE has negotiated a 130,000-square-foot industrial lease at the former National Wholesale Liquidators building in the Northern New Jersey community of Lodi. Bill Waxman and Kevin Dudley of CBRE represented the tenant, AAA Wholesale, a supplier of household items, in the lease negotiations. The name and representative of the landlord were not disclosed.

March 3, 2021

Development Industrial Maryland Southeast

PCCP, Panattoni to Build 730,880 SF Industrial Project in Hagerstown, Maryland

by Julia Sanders March 3, 2021

HAGERSTOWN, MD. — PCCP LLC and Panattoni Development Co. Inc. have partnered in a joint venture to acquire a 90-acre site in Hagerstown for the speculative development of Creekside Logistics Center. The project will be a fully entitled, 730,880-square-foot industrial warehouse building featuring 40-foot clear heights. Located at 16422 National Pike, the project is anticipated for completion in December. Located directly south of the Pennsylvania/Maryland border, Creekside Logistics Center sits just off Interstate 81 in an area in high demand from big box distribution tenants. The project will feature multi-modal infrastructure, low operating costs, a super-regional highway network, regional parcel and freight hubs and a concentration of third-party logistics (3PL) carriers. PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. Panattoni Development is a privately held, full-service development company based in Irvine, Calif.

March 3, 2021

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