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.
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.
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 …
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.
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.
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.
FRANKLIN PARK, ILL. — Morgan/Harbour Construction has completed two speculative warehouses on behalf of CenterPoint Properties at CenterPoint Logistics Center O’Hare in Franklin Park. One of the buildings totals 225,891 square feet and features a clear height of 32 feet, 50 exterior docks and parking for 68 trailers. The other building totals 333,696 square feet and features a clear height of 36 feet, 92 exterior docks and parking for 76 trailers. Cornerstone Architects provided architectural services, while Spaceco Inc. was the civil engineer. James Estus of Colliers International is marketing the properties for lease.
HOUSTON — Trammell Crow Co. (TCC) has broken ground on a new, 519,224-square-foot distribution center in Houston for international supplier Plastic Bagging & Packaging Inc. The Class A, rail-served facility, which will ultimately be capable of processing up to 70 tons of resin per hour, will be located within Cedar Port Industrial Park on the city’s east side. Building features will include 32-foot clear heights, 60-foot speed bays and 8,000 square feet of office space. E.E. Reed is serving as general contractor for the project, which is slated for a summer 2019 completion.
CARROLLTON, TEXAS — ML Realty Partners has acquired an 81,435-square-foot industrial building located at 2908 Commodore Drive in Carrollton, a northern suburb of Dallas. The Class A building offers convenient access to Interstate 35 and State Highway 121. Michelle Hudson and Tom Hudson of Hudson Peters Commercial represented the undisclosed seller in the transaction and will handle leasing of the building for ML Realty Partners.
GARLAND, TEXAS — Lee & Associates has negotiated a 136,825-square-foot industrial lease at 2901 W. Kingsley Road in Garland, a northeastern suburb of Dallas. Nathan Denton of Lee & Associates represented the tenant Alliance Glazing, which does finish-outs of storefronts and façades, in the lease negotiations. Chris Stout and Randy Touchstone of JLL represented the landlord, Boston-based STAG Industrial. The tenant will relocate from its current space in Irving on November 1.
