Industrial

Ridge Sells 490,000 SF Industrial Campus in Tampa Bay Area

by Camren Skelton August 23, 2018

LAKELAND, FLA. — Ridge, the industrial development arm of Transwestern Development Co., has sold Lakeland Logistics Center, a 490,000-square-foot industrial campus located at 2015-2025 W. Memorial Blvd. in the Tampa Bay community of Lakeland. Boston-based Cabot Properties acquired the two-building campus for an undisclosed price. Chris Riley and David Murphy of CBRE brokered the transaction. Each building at Lakeland Logistics Center totals 245,000 square feet and is divisible to 44,000 square feet. The buildings each feature front-load or cross-dock capability, 74 dock doors, 32-foot clear heights, 45 trailer parking spaces and a 3.5-acre staging base. Ridge broke ground on Lakeland Logistics Center in 2015 and fully delivered the facilities in early 2017. The project was 50 percent leased at the time of sale to Parksite Inc. and Recleim Nova LLC. Julia Silva Rettig and Jared Bonshire of Cushman & Wakefield are handling the property’s leasing assignment.

August 23, 2018

Development Industrial Texas

Chemicals Firm Begins Work on $2.4B Manufacturing Plant in Pasadena, Texas

by Taylor Williams August 23, 2018

PASADENA, TEXAS — Multinational chemicals firm LyondellBasell has begun work on a $2.4 billion manufacturing plant in Pasadena, a suburb of Houston located near the port. Spanning 140 acres, the plant will manufacture propylene oxide and tertiary butyl alcohol, two chemicals used in the production of a variety of consumer goods, including bedding, furniture, carpeting, building materials and adhesives. The plant is expected to begin operations by 2021. An analysis from the Greater Houston Partnership states that the project will have more than $450 million in economic impact on the region.

August 23, 2018

Acquisitions Industrial Texas

TIG Negotiates Sale of 15,000 SF Industrial Building in Greater Dallas

by Taylor Williams August 23, 2018

GARLAND, TEXAS — TIG Real Estate Services Inc. has negotiated the sale of a 15,000-square-foot industrial building located at 3640 Marquis Drive in Garland, a northeastern suburb of Dallas. The Class B property was built in 1972 and includes eight drive-in doors. Matt Spellman of TIG represented the buyer in the transaction. Other terms of sale were not disclosed.

August 23, 2018

Acquisitions Illinois Industrial Midwest

PCCP, Midwest Industrial Funds Acquire 490,000 SF Warehouse in Hodgkins, Illinois

by Kristin Harlow August 23, 2018

HODGKINS, ILL. — PCCP and Midwest Industrial Funds have acquired a vacant, 490,000-square-foot warehouse in Hodgkins, about 20 miles southwest of Chicago. The purchase price was not disclosed. The buyers plan to renovate the property and rename it as Hodgkins Center of Commerce. The venture plans to tear down part of the building in order to modernize it with 45 additional exterior docks, new office space, ESFR fire system, new roof and HVAC systems. Upon completion, the property will include 408,000 square feet with 62 dock doors and a clear height of 26 feet. The seller was not disclosed.

August 23, 2018

Acquisitions Illinois Industrial Midwest

Matthews Brokers $11.6M Sale of Industrial Building in Suburban Chicago

by Kristin Harlow August 23, 2018

FRANKLIN PARK, ILL. — Matthews Real Estate Investment Services has brokered the sale of an 87,464-square-foot industrial building in Franklin Park for $11.6 million. DHL occupies the property. Neither the buyer nor the seller was disclosed. Maxx Bauman of Matthews brokered the transaction. The sales price represented a sub-6 percent capitalization rate.

August 23, 2018

Acquisitions California Industrial Office Western

CJ3 Sells 20,329 SF Industrial/Office Building Near San Diego for $3.5M

by Amy Works August 23, 2018

CARLSBAD, CALIF. — CJ3 has completed the sale of a fully occupied industrial property located at 2721 Loker Ave. West in Carlsbad. A private investor acquired the property for $3.5 million. The freestanding building features 20,329 square feet, with 50 percent of the space dedicated to office use and 50 percent dedicated to warehouse space. The office space includes a mix of window-lined private offices, multiple conference/meeting areas and large open collaborative spaces. Dennis Visser and Chris Baumgart of Cushman & Wakefield’s San Diego office represented the seller, while Baugmart also represented the buyer in the deal.

August 23, 2018

Acquisitions Industrial Texas

Colliers Arranges Sale of 336,000 SF Industrial Complex in Cuero, Texas

by Taylor Williams August 22, 2018

CUERO, TEXAS — Colliers International has arranged the sale of a 336,000-square-foot industrial complex in Cuero, located about 90 miles east of San Antonio. The property formerly served as a cotton weaving facility but will now function as the main Texas distribution center for the buyer, OHS Resources Corp., a Houston-based supplier of oil and gas drilling products. Jason Scholtz of Colliers represented the seller, MV Cuero Partners LLC, in the transaction.

August 22, 2018

Company News Development Industrial Texas

Paradigm Metals to Open $10M Headquarters Facility in Hutto, Texas

by Taylor Williams August 22, 2018

HUTTO, TEXAS — Paradigm Metals, a provider of precision machining and sheet metal fabrication, will relocate its headquarters from Pflugerville to Hutto, a northern suburb of Austin. Paradigm Metals expects to invest about $10 million to acquire and develop a new facility within Innovation Business Park, a 72-acre development that broke ground in 2017. Construction of the new facility, which will initially house 250 employees, is slated to begin later this year. Paradigm Metals plans to begin relocating to the new facility in 2019.

August 22, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 277,424 SF Industrial Lease Renewal in Ciudad Juarez

by Taylor Williams August 22, 2018

CIUDAD JUAREZ, MEXICO — CBRE has negotiated a lease renewal for 277,424 square feet of warehouse and distribution space within Finsa Industrial Park in Ciudad Juarez, the sister city of El Paso. Anthony Mash of CBRE represented the tenant, Intermatic, a producer of energy control devices, in the lease negotiations. The landlord, Finsa – Cibanvo SA Institucion DE Banca, was self-represented. The new lease term is seven years.

August 22, 2018

Powerhouse-Business-Complex-McKinney-Texas

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 49,883 SF Industrial Building in Metro Dallas

by Taylor Williams August 22, 2018

MCKINNEY, TEXAS — Marcus & Millichap has brokered the sale of Powerhouse Business Complex, a 49,883-square-foot industrial building located in the northern Dallas suburb of McKinney. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

August 22, 2018

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