Industrial

LGE Breaks Ground on 790,980 SF The HUB at Goodyear in Phoenix’s West Valley

by Amy Works March 11, 2019

GOODYEAR, ARIZ. — Phoenix-based LGE Design Build, in partnership with Clarius Partners, has broken ground on The HUB at Goodyear, a speculative industrial development. Situated on 43 acres at 305 S. Bullard Ave. in Goodyear, the 790,980-square-foot single-building property will feature 40-foot clear heights and 190-foot truck courts with 144 dock-high and four grade-level doors. Additional features will include a reinforced concrete slab, R-38 roof insulation, heavy power, energy efficient clerestory windows and gate-secure loading supported by 181 trailer and 420 auto parking spaces.

March 11, 2019

Development Illinois Industrial Midwest

Principle Completes Speculative Warehouse Project for Seefried Properties in Elk Grove Village

by Kristin Harlow March 11, 2019

ELK GROVE VILLAGE, ILL. — Principle Construction Corp. has completed a speculative warehouse on behalf of Seefried Properties in Elk Grove Village. The 79,205-square-foot building is located on 11.7 acres at 2001 Arthur Ave. The property includes 3,960 square feet of office space. Building features include 18 docks, two drive-in doors, 104 parking stalls and a clear height of 32 feet. The owner will do business as CH Realty VII/I Chicago Lunt LLC. Harris Architects provided design services.

March 11, 2019

Acquisitions Industrial Texas

Blue Road Investments Buys 80,000 SF Distribution Facility in El Paso

by Taylor Williams March 8, 2019

EL PASO, TEXAS — Blue Road Investments LLC, a newly formed industrial real estate firm based in Dallas, has purchased an 80,000-square-foot distribution facility located at 9494 Escobar Drive in El Paso. The property, which represents Blue Road’s first acquisition, was 100 percent leased at the time of sale to Siemens and Forward Air. Will Brown and Adin Brown, SIOR designees with El Paso-based Sonny Brown Associates LLC, brokered the transaction and will handle leasing and management of the facility. The seller was not disclosed.

March 8, 2019

Acquisitions California Industrial Office Western

Embarcadero Capital Partners Acquires 108,500 SF Flex Asset in North San Jose

by Amy Works March 8, 2019

SAN JOSE, CALIF. — San Francisco-based Embarcadero Capital Partners has purchased 2125 O’Nel, an office/R&D building located in North San Jose. PSAI Realty Partners sold the 108,500-square-foot, value-add property for an undisclosed price. Built in 1984 and renovated in 2012, the two-story building is will configured for technology users needing to house multiple functions under one roof. The building is situated on 5.2 acres. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented the seller, while Erik Hallgrimson of the firm’s San Jose office, along with Craig Fordyce of Colliers International provided local market advisory.

March 8, 2019

Acquisitions California Industrial Office Western

SVP Management Buys Vacant Flex/R&D Building in Bay Area for $19M

by Amy Works March 8, 2019

SAN JOSE, CALIF. — SVP Management has purchased a vacant flex/R&D office building, located at 3775 N. First St. in San Jose. Chandler HFP, an affiliate of Los Angeles-based Held Properties Inc. sold the property for $19 million. Built in 1985, Honeywell occupied the single-story, 67,733-square-foot building from its acquisition in 2013 through December 2017. Originally, the property served as the world headquarters for RAE Systems Inc. Held Properties owned the property since 2014. Bob Bower and Chip Sutherland of CBRE Capital Markets-Investment Properties represented both parties in the transaction.

March 8, 2019

Development Industrial Midwest Ohio

Hillwood, Continental to Develop 840,000 SF Speculative Distribution Center Near Columbus

by Kristin Harlow March 8, 2019

WEST JEFFERSON, OHIO — Hillwood, a Perot company, and Continental Real Estate Cos. have unveiled plans to develop an approximately 840,000-square-foot speculative distribution center in West Jefferson. Slated for delivery in early 2020, the property will be expandable up to 1.2 million square feet. The project will offer convenient access to I-70 and will be situated 20 miles west of the central business district. Building features include a clear height of 36 feet, cross-dock configuration, 130 trailer parking spaces and 200 car parking spaces.

March 8, 2019

Industrial Market Reports Texas Texas Market Reports

Quality of Labor, Land Availability Buoy Fort Worth Industrial Market

by Taylor Williams March 8, 2019

The DFW industrial market has enjoyed unprecedented growth over this seven-year development cycle. The market has added approximately 118 million square feet of industrial inventory over that period and absorbed 143 million square feet. Population growth in the Dallas-Fort Worth (DFW) metroplex, the state of Texas and the south-central U.S. region, as well as growth in e-commerce, are the primary tailwinds propelling this extraordinary growth. Ever since Hillwood broke ground on AllianceTexas in the late 1980s, putting north Fort Worth on the radar of industrial users, the expansion in the Fort Worth industrial market has been an ever-increasing part of the overall DFW industrial market’s growth. However, the Fort Worth industrial market’s growth is really accelerating now based on the lack of available developable industrial sites in Dallas and the Mid-Cities. Further, when users and developers compare Fort Worth and southeast Dallas, the two areas with available industrial spaces and developable industrial land, Fort Worth’s advantages with regard to infrastructure, amenities, and most importantly, labor, stand out. As the area reaches peak employment, and with labor cost being the highest percentage of a user’s overall operational cost, the workforce factor has become the most important site selection criterion for users …

March 8, 2019

Development Georgia Industrial Southeast

FedEx Ground Opens 160,000 SF Industrial Facility Today in Metro Savannah

by Alex Tostado March 7, 2019

POOLER, GA. — FedEx Ground has opened a 160,000-square-foot large package processing facility located at 505 Morgan Lakes Industrial Blvd. in Pooler, about 15 miles west of downtown Savannah and about nine miles west of Port of Savannah. The new facility will be a standalone building, making it the first operation of its kind. FedEx Ground expects the facility to house 400 employees with the potential to expand as demand for service grows. The daily volume of packages that FedEx Ground handles has more than doubled in the past 10 years, and large packages now comprise more than 10 percent of the company’s package volume. The new property is part of FedEx’s plan to enter 17 major hubs and add or expand 500 facilities since 2005.

March 7, 2019

Industrial Leasing Activity New Jersey Northeast Uncategorized

NAI Hanson Secures 7,791 SF Industrial Lease in New Providence, New Jersey

by David Cohen March 7, 2019

NEW PROVIDENCE, N.J. — NAI Hanson has secured a 7,791-square-foot industrial lease for United Brewing in New Providence. The microbrewery will occupy 140 Spring St., Unit C, at the 66,000-square-foot property. United Brewing plans to set up a full production brewery as well as a tasting room at the site. Barry Cohorsky of NAI James E. Hanson represented the landlord, Davanne Realty Co. & 19-25 Columbia Street Corp., in the transaction. Terms of the lease were not disclosed.

March 7, 2019

Industrial Kansas Leasing Activity Midwest

Two Companies Sign Leases at Speculative Industrial Building Developed by Opus in Olathe, Kansas

by Kristin Harlow March 7, 2019

OLATHE, KAN. — The Opus Group has signed two tenants at its recently completed 56 Commerce Center in Olathe. Gateway Classic Cars and Lanter Delivery Systems Inc. now occupy more than 85,000 square feet within the 230,000-square-foot speculative industrial building. Gateway Classic Cars is a seller of collectible and exotic automobiles. The company’s space includes a showroom for vehicles and storage. Lanter uses its space as a regional shipping hub for its local automotive, agricultural and industrial clients. The company provides specialized overnight delivery logistic services, ensuring deliveries reach their intended destinations by the following morning. Features of 56 Commerce Center include a clear height of 32 feet, a front parking lot and rear truck court. Joe Orscheln and Mike Mitchelson of CBRE marketed the property for lease. Mark Long of Newmark Grubb Zimmer represented Gateway Classic Cars while John Stafford of Colliers International represented Lanter.

March 7, 2019

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