Industrial

RAF Pacifica Group Sells 1 MSF Industrial Portfolio in Metro San Diego for $170M

by Taylor Williams October 1, 2018

CARLSBAD, VISTA, SAN MARCOS AND TEMECULA, CALIF. — RAF Pacifica Group has completed the disposition of a 12-asset industrial portfolio in San Diego County. An undisclosed buyer acquired the properties for $170 million. Totaling more than 1 million square feet, the portfolio consists of institutional-quality assets in the southern California cities of Carlsbad (3261, 3266 and 3193 Lionshead Ave. and 2281 Las Palmas); Vista (1125 Joshua Way, 1385 Park Center Drive, 2641 and 2651 La Mirada Drive); San Marcos (120 Mata Way, 195 Bosstick Blvd., and 2946, 2950 and 2954 Norman Strasse Road); and Temecula (26201 Ynez Road and 42259 Rio Nedo Road). The Class A properties feature highly efficient warehouse designs and loading capabilities, low office build-out percentages, expansive clear heights and strategic layouts for parking, loading and truck traffic flow. Aric Starck of Cushman & Wakefield’s San Diego office represented the seller, while the buyer was self-represented in the transaction. “The RAF portfolio incorporates a remarkable mix of existing core assets, fully renovated warehouse/distribution centers, as well as newly developed, state-of-the-art projects,” said Starck. “Each asset is strategically positioned in sought-after locations characterized by superior access to freeways, amenities, airports and residential communities.” According to Starck, the deal …

October 1, 2018

Industrial Market Reports Maryland Southeast Southeast Market Reports

After Record-Setting 2017, Baltimore Looks to Extend Its ‘Industrial Revolution’

by John Nelson October 1, 2018

The greater Baltimore metropolitan region achieved positive absorption of more than 6 million square feet of warehouse and industrial space in 2017, smashing the previous record by several million square feet and triggering yet another wave of speculative development activity. While on the surface there seems to be no end in sight to this unprecedented level of activity as we cross the midway point of 2018, there does exist several warning signs that are worth monitoring. But, who wants to dwell on anything remotely negative, when experiencing a seemingly end-less supply of 600,000-square-foot requirements? A Major Industrial Market The Baltimore-Washington, D.C. region is considered the fourth largest MSA in the country with more than 10 million people in the Combined Statistical Area. Several major seaports are within close proximity, approximately one-third of all consumers residing in the United States can be accessed within a one-day truck drive and developable land is still avail-able, although an increasing number of projects involve the demolition of unusable product to make way for the modern variety. Local fundamentals mirror conditions found in “white-hot” sections of the country, including the Inland Empire in Southern California, Northern New Jersey and sections in Pennsylvania where Interstates 81 …

October 1, 2018

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 35,058 SF Self-Storage Facility in El Paso

by Taylor Williams September 28, 2018

EL PASO, TEXAS — Marcus & Millichap has brokered the sale of Cottonwood Self Storage, a 35,058-square-foot, facility located at 12500 Pellicano Drive on the eastern side of El Paso. A private investor purchased the newly built, 207-unit property from a limited liability company, both of which requested anonymity. Jon Danklefs of Marcus & Millichap brokered the deal on behalf of both parties.

September 28, 2018

Acquisitions Industrial Midwest Ohio

Gladstone Commercial Acquires 157,810 SF Industrial Facility Near Columbus, Ohio

by Kristin Harlow September 28, 2018

DELAWARE, OHIO — Gladstone Commercial Corp. has acquired a single-tenant 157,810-square-foot industrial facility in the Columbus-area community of Delaware. The purchase price was not disclosed. The building serves as the headquarters and primary manufacturing facility for Acoust-A-Fiber, which manufactures acoustic, thermal management solutions for the automotive industry. The property is situated on 14.7 acres at 759 Pittsburgh Drive. Robin Stolberg, Kurt Sarbaugh, Nick Foster, Ken Martin and Sam Berry of HFF represented the seller, Agracel.

September 28, 2018

Acquisitions Industrial Midwest Ohio

Signature Associates Negotiates Sale of 104,200 SF Industrial Building in Holland, Ohio

by Kristin Harlow September 28, 2018

HOLLAND, OHIO — Signature Associates has negotiated the sale of a 104,200-square-foot industrial building in Holland, a suburb of Toledo. The sales price was not disclosed. The property is located at 6145 Merger Drive. Joe Banyai of Signature Associates brokered the transaction. Honey Baked Foods Inc. purchased the building from Merger Investment Group LLC.

September 28, 2018

Acquisitions Industrial New Jersey Northeast

NAI Hanson Arranges Sale of 73,000-square-foot Industrial Facility in Lodi, New Jersey

by David Cohen September 27, 2018

LODI, N.J. — NAI James E. Hanson has arranged the sale of a 73,373-square-foot industrial facility in Lodi for an undisclosed price. Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio of NAI James E. Hanson represented the seller, AEW, in the transaction. The buyer was Mood Fabrics. Located at 39 Robinson Road, the facility features 29-foot clear heights in 16,447 square feet of the building and 14-foot clear heights through the remaining 56,896 square feet. The facility also includes three tailgates and three drive-in doors.

September 27, 2018

Industrial Market Reports Midwest Midwest Market Reports Minnesota

Industrial Owners Find Success in Reinventing Flex and Showroom Spaces

by Kristin Harlow September 27, 2018

The most active commercial real estate category in the Twin Cities metro area over the last several years, in terms of leasing activity and new construction sales, has been industrial product. New construction has been trending toward office warehouse and bulk buildings with higher clear heights, as tenants are implementing new racking systems and growing upward to optimize their space. On the surface, this trend may sound like it will leave behind the lower-clear height flex and office showroom buildings. However, owners of flex and office showroom buildings in Minneapolis-St. Paul are finding new interest by providing creative amenities and repositioning assets that are attracting entirely new tenant prospect types and reinventing what an office showroom building can become. The ability to target a wider potential prospect pool including office users, retailers and non-traditional industrial users is reliant on proper vacancy preparation to be able to show the space as a true blank slate. Through white-boxing the space, owners show that the space has high ceilings with an industrial feel, an aesthetic that many office users are interested in, but at a significantly lower price point versus many office buildings. Another benefit of the office showroom product is that there …

September 27, 2018

Development Industrial Texas

City of Garland Approves 21,000 SF Expansion for Automotive Manufacturing Facility

by Camren Skelton September 26, 2018

GARLAND, TEXAS — The City of Garland has approved a 21,000-square-foot expansion for Kirchoff Automotive at its industrial facility located at 3901 W. Miller Road. The project will expand the German automotive components manufacturer’s operations from 94,000 to 115,000 square feet. As part of the project, Kirchoff will invest $20 million in the acquisition and installation of new advanced machinery and equipment at the site. The expansion will begin in April 2019, and the facility is expected to be fully operational by 2020. Kirchoff launched operations in Garland in 2012 and currently staffs 200 employees at its facility that makes parts for Chevrolet, GMC and Cadillac SUVs. The parts manufactured in Garland are then shipped to General Motors assembly plants.

September 26, 2018

Development Indiana Industrial Midwest

Meridian Begins Construction of Spec Industrial Building in Plainfield, Indiana

by Kristin Harlow September 26, 2018

PLAINFIELD, IND. — Meridian Design Build has begun construction on a 262,758-square-foot speculative industrial building on behalf of HSA Commercial Real Estate in Plainfield, a suburb of Indianapolis. The new facility will be located on a 19.3-acre site at 845 Airtech Parkway. The building will feature a clear height of 32 feet, 30 loading docks, four drive-in doors and parking for 185 cars and 70 trailers. Cornerstone Architects is the architect while Innovative Engineering & Consulting is providing civil engineering services. Terry Busch and Jared Scaringe of CBRE will market the property for lease.

September 26, 2018

Acquisitions Industrial Kansas Midwest

Sealy & Co. Purchases 601,829 SF Distribution Facility in Suburban Kansas City

by Kristin Harlow September 25, 2018

OLATHE, KAN. — Sealy & Co. has purchased a 601,829-square-foot distribution facility in Olathe, a suburb of Kansas City. The purchase price was not disclosed. The building, situated on 40 acres at 22101 W. 167th St., is fully leased to FedEx and Bushnell. The property features a clear height of 32 feet, 128 dock doors, two drive-in doors and office space. Adam Herrin, Stephen Bailey and Sean Fogarty of HFF, along with Dan Jensen of Kessinger/Hunter & Co. LC brokered the transaction. Sun Life Assurance Co was the seller.

September 25, 2018

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