Industrial

First Logistics Signs 331,059 SF Industrial Lease in Chicago

by Kristin Harlow January 14, 2019

CHICAGO — First Logistics, a third-party logistics company, has signed a 331,059-square-foot industrial lease in Chicago. The Illinois-based company is expanding from its current facility in Alsip and will occupy the new space immediately. Located at 2075 W. 43rd St., the speculative development spans 633,057 square feet and features a clear height of 32 feet. Known as Marina Crossings, the rail-served property is situated on 35 acres. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire of Cushman and Wakefield represented the landlord, Marina Crossings Owner LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management. Larry Hanley of Midwest Commercial Real Estate represented the tenant.

January 14, 2019

Acquisitions Illinois Industrial Midwest

Podolsky Circle Arranges $8M Sale of Industrial Building in Crystal Lake, Illinois

by Kristin Harlow January 14, 2019

CRYSTAL LAKE, ILL. — Podolsky Circle CORFAC International has arranged the sale of 300 Millennium Drive in Crystal Lake for $8 million. The 92,453-square-foot industrial building is fully leased. It features a clear height of 21 feet, three truck docks, three drive-in doors and office space. Alissa Adler, John Homsher, Paul Tesdal and Stephen Podolsky represented the buyer, MR Michigan LLC. A local investor purchased the asset.

January 14, 2019

Industrial Louisiana Market Reports Southeast Southeast Market Reports

Adaptive Reuse in Core New Orleans Pushes Industrial Activity Westward

by John Nelson January 14, 2019

When real estate professionals think of the New Orleans industrial market, oil companies, the Port of New Orleans (recently rebranded Port NOLA) and distribution companies come to mind. That thought is currently undergoing an evolution. The historically industrial areas of New Orleans are being absorbed seemingly daily by an insurgence of retail and entertainment-based business. As traditional retail in American shopping and strip malls is on the decline, developers are rushing to buy warehouses for physical entertainment and non-traditional uses. Port NOLA used to be home strictly to cargo ships and tankers, but is now expanding to fill the need of cruise ships. Norwegian, Carnival and the newly announced Viking Cruise lines all now use it as a docking port. The $2 billion port master plan encompasses the growth needs of the cruise ships, as well as the recently announced deepening of the Mississippi River’s main channel to 50 feet. However, Tchoupitoulas Street warehouses that once served the port are being turned into cross-training gyms and breweries. High-profile industrial properties are in huge demand. Drive Shack, a competitor of popular Topgolf, is developing a $29 million venue at the old Times-Picayune newspaper site owned by Howard Investors LLC, which is …

January 14, 2019

Data Centers Development Loans Texas

HFF Secures Capital for Construction of 130,000 SF Data Center in Richardson, Texas

by John Nelson January 11, 2019

RICHARDSON, TEXAS — HFF has arranged construction financing and joint venture equity for a 130,000-square-foot data center in Richardson’s Telecom Corridor. Cullen Aderhold, Jim Curtin and Michael Cosby of HFF closed the capital transactions on behalf of the borrower, KDC Real Estate Development & Investments. Situated at the southeast corner of North Plano Road and East Lookout Drive, the facility will be adjacent to an ONCOR substation and have access to approximately 18 fiber providers within the area. Data center tenants in Richardson’s Telecom Corridor include Cisco, Bank of America, State Farm, TD Ameritrade, LinkedIn/Microsoft and Digital Realty.

January 11, 2019

Acquisitions Development Industrial Texas

Adkisson Group Purchases 225 Acres Near Port of Houston for New Industrial Park

by John Nelson January 11, 2019

BAYTOWN, TEXAS — Adkisson Group Inc. has purchased nearly 225 acres near Baytown and the Port of Houston for the development of a new business park. Parkside Capital sold the land to Adkisson Group for an undisclosed price. The project, Bay 10 Business Park, will be situated on the west side of Grand Parkway south of Interstate 10 East. Adkisson Group will begin permitting and building several 10,000- to 30,000-square-foot freestanding buildings that will offer crane capabilities and acreage for outside storage. Robert McGee, Thomas Leger, Chase Cribbs and Josh Cheatham of Lee & Associates – Houston represented Adkisson Group in the land acquisition and will take on the marketing assignment for Bay 10 Business Park. Davis Adams, Rusty Tamlyn, and Trent Agnew of HFF represented the seller.

January 11, 2019

Arizona Development Industrial Self-Storage Western

1784 Capital Holdings Breaks Ground on Gold Dust Self Storage in Scottsdale, Arizona

by Amy Works January 11, 2019

SCOTTSDALE, ARIZ. — Scottsdale-based 1784 Capital Holdings has broken ground on its Gold Dust Self Storage, located at 7245 E. Gold Dust Ave. in Scottsdale. Situated on a 2.1-acre former Macaroni Grill site, the facility will feature two above-ground floors and one below-ground floor totaling 117,567 gross square feet and 82,505 square feet of net rentable space. The high-end self-storage property will feature climate-controlled loading areas, hotel-style lobbies, conference rooms and play areas. The self-storage facility is slated to open at the end of 2019. TLW Construction is serving as general contractor for the project.

January 11, 2019

Acquisitions California Industrial Western

Avison Young Brokers $3.6M Sale of Industrial Warehouse in Los Angeles

by Amy Works January 11, 2019

LOS ANGELES — Avison Young has arranged the sale of an industrial warehouse facility, located at 7727 and 7729 Burnet Ave. in the Los Angeles neighborhood of Van Nuys. Los Angeles-based Burnet Investments sold the property to JP Burnet for $3.6 million. California Contractors Supplies has occupied the 16,230-square-foot warehouse since the late 1970s. The single-story building features an office space build-out, 32 parking stalls, a gated lot, 16-foot clear heights and two ground-level roll-up doors. Andrew Berk and Mark Evanoff of Avison Young represented the seller, while Berk also represented the buyer in the deal.

January 11, 2019

Georgia Industrial Leasing Activity Southeast

Havertys Signs 808,000 SF Industrial Lease Renewal in Braselton, Georgia

by John Nelson January 11, 2019

BRASELTON, GA. — Havertys has renewed its 808,000-square-foot lease for its distribution center at 1090 Broadway in Braselton. The Atlanta-based retailer of residential furniture and accessories sells home furnishings online and through its 120 stores in 16 states. Lee Cardwell and Price Weaver of Colliers International’s Atlanta office represented Havertys in the lease transaction. Doug Smith and Joseph Kriss of Seefried Properties represented the landlord, UBS Realty Investors LLC.

January 11, 2019

Illinois Industrial Leasing Activity Midwest

OWD Logistics Signs 343,410 SF Industrial Lease in Suburban Chicago

by Kristin Harlow January 11, 2019

MELROSE PARK, ILL. — ODW Logistics Inc. has leased an entire 343,410-square-foot industrial building in Melrose Park. The property, which features railway access, includes 84 truck-level docks, 17 trailer positions, 10 rail doors, 120 car parking spaces, two air freight doors and 30,000 square feet of office space. John Joyce of Transwestern represented the landlord, TSP Melrose Park LLC. Dan McGillicuddy of JLL represented the tenant.

January 11, 2019

Acquisitions Industrial Southeast Top Stories Virginia

Avison Young Arranges $142M Sale of Industrial Park in Northern Virginia

by Kristin Harlow January 11, 2019

LORTON, VA. — Avison Young has arranged the $142 million sale of Gunston Commerce Center, an industrial/flex business park in Lorton, about 20 miles south of Washington, D.C. NGP, formerly National Government Properties, purchased the property from I-95 Business Parks Management, according to the Washington Business Journal. The park spans nine buildings and 600,000 square feet of rentable space. It is situated between the Pentagon and the Marine Corps Base Quantico. The property is leased to a roster of tenants anchored by federal government contractors and the General Services Administration, which is the real estate management entity of the federal government that leases space on behalf of agencies such as the Department of Defense. The buildings are flexible in design, with uses ranging from office and warehouse to R&D and retail. John Kevill, Jim Kornick, Chip Ryan, Michael Murrillo and Georgiana Condoiu of Avison Young marketed the property on behalf of the seller. — Kristin Hiller and Alex Tostado

January 11, 2019

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