Industrial

CBRE Arranges Sale of 154,824 SF Industrial Property in Freehold, New Jersey

by Alex Patton January 14, 2020

FREEHOLD, N.J. — CBRE has arranged the $8.8 million sale of a 154,824-square-foot industrial property located at 500 Halls Mill Road in Freehold, located approximately 30 miles east of Trenton. Situated at 500 Halls Mill Road, the property offers convenient access to the New Jersey Turnpike and the Garden State Parkway. The buyer, Treetop Development, plans to redevelop the site as an approximately 200,000-square-foot distribution facility with a clear height of 36 feet. Elli Klapper, Charles Berger and Kevin Dudley led a CBRE team that represented Treetop Development in the transaction. The seller was undisclosed.

January 14, 2020

Development Georgia Industrial Southeast

Walmart Opens $90M Meat Processing Plant in South Georgia

by Alex Tostado January 13, 2020

THOMASVILLE, GA. — Walmart has opened a 201,000-square-foot meat processing facility at 121 Roseway Drive in Thomasville, 15 miles north of the Georgia-Florida border. The Thomasville Times-Enterprise reported the facility cost $90 million to develop. The plant will house more than 200 employees who will distribute a selection of Angus beef cuts, such as steaks and roasts, from the new supply chain to 500 Walmart stores in the Southeast. Construction of the property began in August 2018. In conjunction with the opening of the facility, Bentonville, Ark.-based Walmart has awarded a $7,500 grant to Georgia Wildlife Federation, a $2,500 grant to the Thomasville Police Force and a $2,500 in grant to Second Harvest of South Georgia. Walmart employs more than 62,000 associates across Georgia’s 211 retail units and seven distribution centers.

January 13, 2020

Alabama Development Industrial Loans Self-Storage Southeast

Metropolitan Capital Advisors Arranges $4M Construction Loan for Self-Storage Facility in Mobile

by Alex Tostado January 13, 2020

MOBILE, ALA. — Metropolitan Capital Advisors (MCA) has arranged a $4 million senior construction loan for Anytime Storage, a self-storage owner and operator based in Phoenix. The company will use the loan to construct a three-story self-storage facility in Mobile comprising 466 climate-controlled units, representing the first Anytime Storage facility in Alabama. The financing features a fixed 5.05 percent interest rate and 36 months of interest-only payments followed by a 20-year amortization schedule. MCA’s Duke Dennis originated the loan with ServisFirst. Once complete, Anytime Storage’s portfolio will total over 3,700 units across Alabama and Arizona.

January 13, 2020

Acquisitions Industrial Midwest Minnesota

Americold Realty Trust Acquires Cold Storage Facility in St. Paul for $56M

by Kristin Harlow January 13, 2020

ST. PAUL, MINN. — Americold Realty Trust (NYSE: COLD) has acquired Newport-St. Paul Cold Storage, a 6.1 million-cubic-foot cold storage facility in St. Paul for $56 million. The temperature-controlled property is located on I-494. The site offers three acres of adjoining land available for expansion. Separately, Americold has closed on its previously announced acquisition of Nova Cold Logistics, an owner and operator of three facilities in Canada.

January 13, 2020

Acquisitions Indiana Industrial Midwest

Avison Young Brokers Sale of 353,000 SF Indianapolis Industrial Building

by Kristin Harlow January 13, 2020

INDIANAPOLIS — Avison Young has brokered the sale of a 353,000-square-foot industrial building in Indianapolis. Located at 7901 W. 21st St., the facility is fully leased to Venture Logistics LLC and Iron Mountain Inc. Built in 1985 and renovated in 1994, the property features 31 dock doors and three drive-in doors. Venture Logistics, a privately owned transportation company, occupies 85 percent of the building. Erik Foster, Mike Wilson, Sean McHale and Steve Schaub of Avison Young represented the seller, an institutional owner. Plymouth Industrial REIT purchased the asset for $12.1 million.

January 13, 2020

Acquisitions Industrial New Jersey Northeast

NAI James Hanson Brokers Sale of 20,000 SF Industrial Building in Hackensack, New Jersey

by Alex Patton January 13, 2020

HACKENSACK, N.J. — NAI James Hanson has brokered the sale of a 20,000-square-foot industrial building in Hackensack, a northwestern suburb of New York City. Located at 143 Leuning St., the property offers 17,500-square-feet of industrial space, 2,500-square-feet of office space and close proximity to the New Jersey Turnpike. The buyer, City Knickerbocker, provides reproductions of contemporary lighting fixtures for use in television, theater, and private businesses and homes. Russell Verducci and Eric Demmers of NAI James Hanson represented City Knickerbocker in the transaction. Schmidt Realty Company LLC was the seller. The sales price was undisclosed.

January 13, 2020

Arizona Industrial Market Reports Western Western Market Reports

Phoenix’s Strategic Growth Positions Industrial for Success in 2020

by Taylor Williams January 11, 2020

Phoenix’s industrial inventory is undergoing a period of growth due to the delivery of 2.2 million square feet of new product in the third quarter of 2019 and more than 4.7 million year to date (as of late November). In fact, the market has seen the highest amount of total industrial development year to date since 2007. While these deliveries have increased the industrial vacancy rate slightly, the overall vacancy rate for the area remains low at less than 7 percent. Absorption has been strong and is expected to remain so for the near future. Rental rates also continue to rise, though they are still at a considerable discount to many other West Coast markets. A high amount of development activity is still occurring, particularly in the southern portion of Phoenix. Much of this development is speculative rather than build-to-suit, which indicates developers are confident in the demand for industrial space in this market. Major factors for our growth have been significant job creation and in-migration of both residents and businesses, which have led to growth in industrial and construction jobs in the region. In fact, Greater Phoenix remains one of the top five metros for job creation in the …

January 11, 2020

Acquisitions Industrial New York Northeast

NKF Brokers $21.5M Sale of Industrial Property in Queens

by Alex Patton January 10, 2020

NEW YORK CITY — Newmark Knight Frank (NKF) has brokered the $21.5 million sale of 24 Woodward Avenue, a 110,000-square-foot distribution and warehouse facility in the Ridgewood neighborhood of Queens. The two-story property offers close proximity LaGuardia and Kennedy airports. Brian Ezratty and Scott Ellard of NKF represented the seller, Willowen Management Corp., in the transaction. The team also represented the buyer, Prologis.

January 10, 2020

Acquisitions Industrial Texas

JLL, NAI Arrange Sale of 124,000 SF Harms Road Business Park in Northwest Houston

by John Nelson January 10, 2020

HOUSTON — JLL and NAI Partners have arranged the sale of Harms Road Business Park, a 124,000-square-foot industrial park located at 7204-7214 Harms Road in Houston’s Northwest submarket. The five single-tenant buildings were constructed between 2014 and 2018 and feature clear heights ranging from 28 to 30 feet, 22 overhead doors, office space and overhead cranes with capacities ranging between 10 and 20 tons. Trent Agnew, Charlie Strauss and Ethan Goldberg of JLL and Travis Land of NAI Partners represented the seller, United Equities Inc., in the transaction. A partnership between Finial Group and Senterra LLC purchased the industrial park for an undisclosed price.

January 10, 2020

Industrial Leasing Activity Retail Texas

Levey Group Signs Victory Wine to 23,000 SF Lease at Northwest Place Industrial Park in Houston

by John Nelson January 10, 2020

HOUSTON — Levey Group has signed Victory Wine Group to a 23,000-square-foot lease at Northwest Place Industrial Park, Levey’s seven-acre business park in Houston’s Northwest submarket. Victory Wine is a wholesale wine distributor with locations in Houston, Dallas and Austin. The company’s newest location at Northwest Place features a storefront entrance and an air-conditioned warehouse. David Lester of Lester & Lester Realty Advisors represented Victory Wine Group in the lease transaction, and Carlton Anderson and Joseph Smith of CBRE represented Levey Group.

January 10, 2020

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