Industrial

HFF, JLL Negotiate $49.2M Sale of Industrial Park, Future Development Sites in Metro Charlotte

by Camren Skelton August 2, 2018

CONCORD, N.C. — HFF and JLL have arranged the $49.2 million sale of RiverOaks Corporate Center, a two-building industrial park in Concord, roughly 25 miles northeast of Charlotte. Chris Norvell and Patrick Nally of HFF, in conjunction with JLL’s Pete Pittroff, brokered the transaction on behalf of the seller, Beacon Partners. Exeter Property Group acquired the property, which totals 453,206 square feet. The sale also included three land sites for future development. Completed in 2016, the existing buildings are located at 800 Derita Road and 8475 Automation Drive. The buildings feature 24- to 32-foot clear heights. The pre-graded development sites, located at 700 Derita and 8400 and 8500 Automation, would add nearly 900,000 square feet to RiverOaks Corporate Park, bringing the total square footage to approximately 1.4 million square feet. The park is located adjacent to Concord Regional Airport and 23 miles from Charlotte Douglas International Airport.

August 2, 2018

Acquisitions California Industrial Western

Totai America Acquires Industrial Building for $7.6M in Torrance, California

by Amy Works August 2, 2018

TORRANCE, CALIF. — Totai America has purchased an industrial building located at 19675 Mariner Ave. in Torrance. Kung Fu Dragon sold the property for $7.6 million. Totai America plans to relocate its headquarters to the 21,337-square-foot property. Founded in 1981, Totai America offers full-service rotogravure printing/converting services. Todd Taugner of The Klabin Company, in collaboration with Takashi Sugita of Relo Redac, represented the buyer in the deal.

August 2, 2018

Development Industrial Texas

Hunt Southwest Begins Work on 300,000 SF Cold Storage Facility in Fort Worth

by Taylor Williams August 1, 2018

FORT WORTH, TEXAS — Hunt Southwest has begun construction on a 300,000-square-foot cold storage facility that will be located within Carter Industrial Park in Fort Worth. The facility is being developed on a speculative basis and is expected to be complete by March 2019. The property will feature 45-foot clear heights and has the capacity to be served by rail and to add more trailer storage. CBRE is marketing the facility to prospective tenants.

August 1, 2018

Acquisitions Industrial Self-Storage Texas

LeClaire Group Arranges Sale of 673-Unit Self-Storage Facility in Metro Houston

by Taylor Williams August 1, 2018

SPRING, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has arranged the sale of AAA Spring Storage, a 673-unit self-storage facility located in the northern Houston metro of Spring. Built in 2005, the property totals 79,778 net rentable square feet and includes 77 rentable outdoor parking spaces and 14 climate lockers. Dave Knobler and Charles LeClaire of The LeClaire Group represented the undisclosed seller in the transaction. The buyer was also not released.

August 1, 2018

The-Center-Needham-Ranch-Santa-Clarita-CA

California Development Industrial Western

Trammell Crow, Clarion Partners Begin Construction of 54-Acre Business Park in Santa Clarita

by Amy Works August 1, 2018

SANTA CLARITA, CALIF. — Trammell Crow Co. and Clarion Partners have started vertical construction on the first phase of The Center at Needham Ranch. The 54-acre business park is the first phase of a larger, 132-acre, fully entitled site with approvals for up to 4.2 million square feet of industrial and commercial space. Phase I of The Center at Needham Ranch will comprise an 869,760-square-foot, seven-building industrial park, offering Class A buildings ranging in size from 34,270 square feet to 209,559 square feet. Scheduled for occupancy in the first quarter of 2019, the first buildings of Phase I will feature 30-foot to 36-foot interior clear heights with ESFR fire sprinklers, abundant dock-high loading with large truck courts and yard areas, and abundant vehicle parking with capacity for above standard parking counts. The project is located at the southern entrance of the city of Santa Clarita, along Sierra Highway and Highway 14, south of Newhall Avenue and one mile from the intersection of Interstate 5 and Highway 14. The project team includes Oltman’s Construction Co., HPA Inc. and Alliance Land Planning & Engineering. CBRE’s Craig Peters and Doug Sonderegger are leasing agents for the property.

August 1, 2018

Features Industrial Northeast Northeast Feature Archive

Industrial Rents Reach New Heights in Northeast

by David Cohen August 1, 2018

The industrial real estate sector across the Northeast continues to exhibit strong rent growth due to a number of factors: increased tenant demand, decreased supply and the ever-growing presence of e-commerce companies. In the five largest metro areas, rent growth over the 12-month period that ended June 4 averaged 6.2 percent, according to CoStar Group. The vacancy rates in those same markets were all at or below 6 percent as of June 4. The Northern New Jersey industrial market led the way with rent growth climbing 8.2 percent over the 12-month period, followed by New York (+7 percent), Boston (+ 6.3 percent), Philadelphia (+ 5.3 percent), and Pittsburgh (+ 4.6 percent). In each case, the spike in rent was more than double the historical average. “Supply is really struggling to keep pace with demand,” says Alex Previdi, managing director of Transwestern’s New Jersey office. “There’s an abundance of large tenants that are looking for industrial space and there’s just not a lot of options out there.” On the demand side, the New York market led the way with a 12-month net absorption of 7.6 million square feet, followed by Philadelphia (6.6 million square feet), New Jersey (3.4 million) square feet, …

August 1, 2018

Industrial Leasing Activity Texas

Furniture Wholesaler Signs 487,200 SF Warehouse Lease in Metro Dallas

by Taylor Williams July 31, 2018

MESQUITE, TEXAS — Furniture wholesaler Elements International has signed a 487,200-square-foot warehouse lease at Skyline Trade Center, an 87-acre office and industrial park in the eastern Dallas suburb of Mesquite. The new space, which features a cross-dock configuration and 36-foot clear heights, will serve as the company’s headquarters as well as its chief distribution facility. The lease term is 88 months. Matt Dornak and Ryan Wolcott of Stream Realty Partners represented IDI Logistics in the lease negotiations. Nathan Lawrence of CBRE represented Elements International.

July 31, 2018

Illinois Industrial Leasing Activity Midwest

Elkay Signs 47,073 SF Industrial Lease in Downers Grove, Illinois

by Kristin Harlow July 31, 2018

DOWNERS GROVE, ILL. — Elkay has signed a 47,073-square-foot industrial lease in Downers Grove. The kitchen sink company is relocating two of its business teams from 2222 Camden Court in Oak Brook in August, but the company’s headquarters will remain at the Oak Brook property. Dan Arends of Colliers International represented Elkay in the lease transaction. The landlord was not disclosed.

July 31, 2018

Acquisitions Industrial Midwest Ohio

Industrial Property Brokers (IPB) Negotiates Sale of 24,000 SF Warehouse in Piqua, Ohio

by Kristin Harlow July 31, 2018

PIQUA, OHIO — Industrial Property Brokers has arranged the sale of a 24,000-square-foot manufacturing and warehouse facility in Piqua in western Ohio. The price was not disclosed. The property is located at 9700 Looney Road. Innovated Technologies LLC, an equipment manufacturing and automation systems maker, purchased the building with plans to relocate from Sydney, Ohio, after tenant improvements are completed. Clear heights at the property range from 13 to 18 feet. Other features include four drive-in doors, two docks and 1,400 square feet of office space. Tim Echemann of Industrial Property Brokers arranged the transaction. Unity National Bank was the seller.

July 31, 2018

Acquisitions Industrial New York Northeast

TerraCRG Arranges $8.5M Sale of Industrial Facility in Brooklyn

by David Cohen July 31, 2018

NEW YORK CITY — TerraCRG has arranged the sale of a 55,000-square-foot industrial facility in the Brownsville neighborhood of Brooklyn. The property sold for $8.5 million, or $155 per square foot. Ofer Cohen, Dan Marks, and Mike Hernandez of TerraCRG represented the seller, Joseph Robles, in the transaction. The buyer was undisclosed. The building features open layouts with two drive-in doors and 13-foot ceilings on both levels as well as 290 feet of frontage on Osborn Street.

July 31, 2018

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