Industrial

Dermody Properties Leases 352,800 SF Industrial Building in Louisville

by Alex Tostado April 24, 2020

LOUISVILLE, KY. — Dermody Properties has fully leased LogistiCenter at Louisville Airport, a 352,800-square-foot industrial building in Louisville. The property, situated at 2825 Transglobal Drive, is located within Renaissance South Business Park adjacent to Louisville Muhammad Ali International Airport. The newly delivered building offers 32-foot clear height, 46 dock-high doors, four drive-in doors, 73 trailer parking stalls, 256 auto parking spaces and LED warehouse lighting. Dermody broke ground on the 17.1-acre site in June after acquiring the land from Renaissance South Business Park developer Louisville Renaissance Zone Corporation (LRZC). The tenant was not disclosed.

April 24, 2020

Industrial Leasing Activity Texas

Synnex Corp. Signs 117,206 SF Industrial Lease in Metro Dallas

by Taylor Williams April 24, 2020

GARLAND, TEXAS — Synnex Corp., a California-based software and IT firm, has signed a 117,206-square-foot industrial lease at 1601 S. Shiloh Road in the northeastern Dallas suburb of Garland. According to LoopNet Inc., the property was built in 2019. Trevor Atkins of CBRE represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

April 24, 2020

Industrial Leasing Activity Texas

NKF Negotiates 34,995 SF Industrial Lease in Austin

by Taylor Williams April 24, 2020

AUSTIN, TEXAS — Newmark Knight Frank (NKF) has negotiated a 34,995-square-foot industrial lease at 7000 William Cannon Drive in Austin. Mike Hopper, Steve Biegel, Mark Russell, Jeremy Hakala, Scott Lewis and Gregory Katz of NKF represented the tenant, Advanced Micro Devices Inc., a California-based provider of semiconductors, in the lease negotiations. The landlord was ATX Office Owner 4 LP, an affiliate of Endeavor Real Estate Group.

April 24, 2020

Industrial Leasing Activity Texas

Johnson Controls Inks 29,954 SF Industrial Lease in Metro Houston

by Taylor Williams April 24, 2020

PASADENA, TEXAS — Johnson Controls, a supplier of fire, HVAC and security equipment for buildings, has signed a 29,954-square-foot industrial lease in metro Houston. The company is taking space at a newly built facility located at 4111 Greenshadow Drive in the eastern suburb of Pasadena. Carlton Anderson of CBRE represented the tenant in the lease negotiations. Reed Vestal and Taylor Schmidt of Lee & Associates represented the owner and developer, VIGAVI Realty LLC.

April 24, 2020

Acquisitions Industrial Midwest Missouri Self-Storage

StorageMart Acquires 310-Unit Self-Storage Facility in Downtown Kansas City

by Kristin Harlow April 24, 2020

KANSAS CITY, MO. — StorageMart has acquired a Go Storage facility located on 8th Street in downtown Kansas City. The purchase price was undisclosed. The self-storage facility features 310 climate-controlled units. The property recently underwent a renovation and received a new elevator. StorageMart plans to make further improvements, including adding perimeter fencing, gates with keypad access, renovating the office and installing motion sensor lighting in the loading bay.

April 24, 2020

Industrial Market Reports Texas Texas Market Reports

Texas Industrial Owners Adopt Short-Term Solutions for COVID-19

by Taylor Williams April 24, 2020

In response to the outbreak of COVID-19, the disease caused by the novel coronavirus, industrial landlords in Dallas-Fort Worth (DFW) are demonstrating greater flexibility on short-term lease structures in order to keep deals moving forward. With most of the nation sheltering in place to stem the spread of the virus, e-commerce activity is accelerating, leading to greater demand for distribution and logistics services. In addition, supply chain operators that service essential industries — such as grocery, healthcare, construction and infrastructure — are working overtime to store and ship the necessary product to end users. In addition, many of these suppliers are also carrying more inventory. This is because are at interest rates are at historic lows, making it cheaper to stockpile goods and equipment, and because the global healthcare crisis has caused demand for certain foods, household products and consumer goods to skyrocket. All of this activity translates to short-term disruption in industrial real estate. Some deals are on hold, and the market is now seeing more unforeseen requirements from firms that need additional space for inventory storage, as well as from distribution and logistics users that are hiring more workers and shipping more product. “Several larger distribution companies are still …

April 24, 2020

Content Partner Development Features Industrial Loans Midwest Multifamily Northeast Office Retail Southeast Texas Walker & Dunlop Western

Walker & Dunlop: Rent, Lenders, Tech in the Midst of Coronavirus

by Sarah Daniels April 24, 2020

In recent weeks, the ability of commercial real estate owners to access debt and equity has come into question as the novel coronavirus wreaks havoc on the economy. While some deals in the pipeline are still getting done, the debt markets took a pause as the pandemic took hold. Debt markets were waiting for clarity on how various sectors would react, according to Mark Strauss, managing director of capital markets, and Rob Quarton, director of capital markets, with Walker & Dunlop’s Irvine, Calif., office. The two recently spoke with REBusinessOnline via Zoom about the robustness of certain asset types, market stability, debt pricing and adoption of tech-heavy creativity in the wake of COVID-19 and its effects on commercial real estate nationwide. Commercial Real Estate Debt & Coronavirus Strauss and Quarton primarily work with institutional capital sources that provide capitalization for commercial real estate developers and owners. As such, they have a broad view of all debt markets and their willingness to fund. Debt funds are one of the most affected areas of the financial markets. “The way that debt funds finance their position behind the scenes — either using collateralized loan obligations (CLOs), bank warehouse lines or repo facilities — …

April 24, 2020

Acquisitions Industrial Massachusetts Northeast

JLL Arranges $19.3M Sale of Industrial Property in Winchester, Massachusetts

by Alex Patton April 23, 2020

BOSTON — JLL has arranged the $19.3 million sale of 45 Holton Street, a 180,000-square-foot industrial warehouse in the northwestern suburb of Boston of Winchester. The building features 26-foot clear heights, 33 loading docks, two drive-in doors and roughly 18,000 square feet office space, as well as convenient access to Interstates 95 and 93 and State Route 3. At the time of sale, the property was fully leased to Tighe Logistics Group and Archive America. Matt Sherry and Jamey Lipscomb led a JLL team that represented the seller, JG Holt Ltd. Partnership, in the transaction. Brett Paulsrud and Sam Campbell led the JLL debt placement team that arranged $13.3 million in acquisition financing through Harbor One Bank for the buyer, a partnership between Boston-based firms Bain Capital Real Estate and Oliver Street Capital.

April 23, 2020

Industrial Leasing Activity Texas

Transport, Logistics Firm Geodis Signs 280,000 SF Industrial Lease in Southwest Dallas

by Taylor Williams April 23, 2020

DALLAS — International transport and logistics firm Geodis has signed a 280,000-square-foot industrial lease at 5450 W. Kiest Blvd. in southwest Dallas. According to LoopNet Inc., the site is located within Southwest Distribution Center, a 500,000-square-foot development that was completed in 1999. Ann Huntington of CBRE represented the tenant in the lease negotiations. Kacy Jones and Trapper Graff of CBRE represented the landlord, Kiest Blvd LLC.

April 23, 2020

Development Industrial Texas

Trammell Crow, Clarion Complete 85,000 SF Distribution Center for FedEx in Austin

by Taylor Williams April 23, 2020

AUSTIN, TEXAS — A joint venture between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has completed construction of an 85,000-square-foot, build-to-suit distribution center for FedEx in Austin. The Class A building is situated on 13 acres at 8233 Industry Way on the city’s southeast side and has been operational since March. The project represents Phase II of Park 183, a Class A industrial development that currently totals 330,000 square feet. A third phase consisting of 300,000 square feet has been announced and is expected to be complete by the third quarter of 2021.

April 23, 2020

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