Industrial

Seefried, James Campbell Co. Complete Industrial Project in Franklin, Wisconsin

by Kristin Harlow October 17, 2019

FRANKLIN, WIS. — Seefried Industrial Properties, in partnership with James Campbell Co. LLC, has completed the shell construction of the 88,667-square-foot Franklin Business Center in suburban Milwaukee. The facility is available for users ranging from 20,000 to 88,667 square feet. Located at Oakwood Park Drive near Mitchell International Airport, the development is situated on 5.7 acres and features a clear height of 28 feet, 92 auto parking spaces, eight dock doors and two drive-in doors. Peak Construction Corp., Partners in Design Architects Inc. and Pinnacle Engineering Group made up the project team. Trent Poole, Christian Chambers and Paula Wink of CBRE are marketing the property for lease.

October 17, 2019

Development Georgia Industrial Southeast

Southeastern Mills Opens 140,000 SF Distribution Center in North Georgia

by Alex Tostado October 16, 2019

ROME, GA. — Southeastern Mills has opened a 140,000-square-foot distribution center in Rome. The center is expected to handle more than 300 shipments per month for the Rome-based food company. The facility also offers a video conferencing system and automated doors with trailer restraints. Rome is situated 65 miles north of downtown Atlanta.

October 16, 2019

Development Illinois Industrial Midwest

Meridian Breaks Ground on Two Spec Industrial Buildings in Elgin, Illinois

by Kristin Harlow October 16, 2019

ELGIN, ILL. — Meridian Design Build has broken ground on two speculative industrial buildings on behalf of developer Scannell Properties in Elgin. The buildings are located at 2451 Bath Road and 1755 Britannia Drive. The Bath road facility will span 325,020 square feet and feature a clear height of 36 feet, four drive-in doors, 367 auto parking spaces and 56 trailer parking stalls. The Britannia Drive facility will span 80,400 square feet and feature a clear height of 32 feet, two drive-in doors and 93 auto parking spaces. Paul Woody Architects and Manhard Consulting make up the project team. Kenneth Franzese and John Cassidy of Lee & Associates will market the properties for lease.

October 16, 2019

Development Illinois Industrial Midwest

Pizzuti to Develop Logistics Facility for Crate & Barrel in Romeoville, Illinois

by Kristin Harlow October 16, 2019

ROMEOVILLE, ILL. — Crate & Barrel has selected The Pizzuti Cos. to develop a build-to-suit, Class A industrial facility in Romeoville. The property is being developed at Pinnacle Business Center in the heart of Chicago’s I-55 corridor. An affiliate of Heitman LLC owns the property. Crate & Barrel will occupy a facility known as Pinnacle XXIV, a 646,380-square-foot building. The development will serve as an e-commerce facility for the national home décor company. Construction is scheduled to begin immediately with completion slated for the third quarter of 2020. Jules Nissim and Jason West of Cushman & Wakefield represented the tenant while Jeff Kapcheck of CBRE represented ownership.

October 16, 2019

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 51,288 SF Industrial Lease in McKinney, Texas

by Taylor Williams October 16, 2019

MCKINNEY, TEXAS — Lee & Associates has secured a 51,288-square-foot industrial least at 1581 Corporate Drive in McKinney, a northeastern suburb of Dallas. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, Dalfen Industrial, in the lease negotiations. The tenant was not disclosed.

October 16, 2019

Industrial Leasing Activity Texas

Texas AirSystems Leases 39,950 SF at Parc North in Fort Worth

by Taylor Williams October 16, 2019

FORT WORTH, TEXAS — Stream Realty Partners has negotiated a 39,950-square-foot industrial lease at Parc North in Fort Worth. Seth Koschak and Forrest Cook of Stream Realty Partners represented the landlord, EastGroup Properties, in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the tenant, Texas AirSystems.

October 16, 2019

Industrial Market Reports New Jersey Northeast Northeast Market Reports

Demand Outpaces Development in New Jersey’s Industrial Market

by Taylor Williams October 16, 2019

Across the Northeast, the high level of demand from retailers, food companies and transportation/logistics firms is outpacing the level of development and redevelopment in the industrial market, causing a severe shortage of product and skyrocketing rents across the region. At the center of this trend is New Jersey, situated in the heart of the Northeast’s Boston-Washington, D.C. corridor between Philadelphia and New York City. The demand for industrial space in New Jersey is driven by its strategic location and sophisticated infrastructure including air, freight, port and rail options linking it to the rest of the country. Despite the near-record level of development in the industrial sector, the state faces a product deficit that even the nearly 5.3 million square feet of space currently under construction cannot satisfy. In fact, 93 percent of the more than 21 million square feet that was developed in 2017 and 2018 has already been leased. Demand has pushed the average asking rent across the state to $8.41 per square foot, an all-time high. Moreover, asking rents are often not listed in new buildings or those under construction, many of which have rents as high as the low teens. Not listing the asking rents demonstrates how …

October 16, 2019

Development Industrial Northeast Pennsylvania Self-Storage

U-Haul to Open 251,643 SF Retail, Self-Storage Facility in Philadelphia

by Alex Patton October 15, 2019

PHILADELPHIA — U-Haul will open a 251,643-square-foot retail and self-storage facility in the Kensington neighborhood of Philadelphia. The facility will offer truck and trailer rental, moving supplies and climate-controlled self-storage space. On Oct. 18, Philadelphia-based general contractor Domus Construction will begin construction of the facility, which is slated for completion in December 2020. JKRP Architects designed the project.

October 15, 2019

Acquisitions Industrial Midwest Ohio

Griffin Capital Sells Industrial Building in West Jefferson, Ohio for $30.3M

by Kristin Harlow October 15, 2019

WEST JEFFERSON, OHIO — Griffin Capital Essential Asset REIT Inc. has sold a 160,410-square-foot industrial building in West Jefferson for $30.3 million. FedEx Freight occupies the Class A property, which is located at 10 Commerce Parkway, about 20 miles west of Columbus. The REIT initially purchased the building in July 2015.

October 15, 2019

Development Industrial Texas

Hunt Southwest to Develop 509,600 SF Spec Industrial Facility in Metro Houston

by Taylor Williams October 15, 2019

HUMBLE, TEXAS — Dallas-based Hunt Southwest will develop 59 Logistics Center, a 509,600-square-foot speculative industrial facility that will be located near George Bush Intercontinental Airport in the northeastern Houston suburb of Humble. Situated along Highway 59, the cross-dock facility will feature 36-foot clear heights and an ESFR sprinkler system. Completion is slated for the fourth quarter of 2020. CBRE will handle leasing of the facility. Powers Brown is the project architect, and E.E. Reed Construction is the project’s general contractor.

October 15, 2019

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