Industrial

Exeter Property Group to Develop Four New Industrial Buildings in South Florida

by Camren Skelton July 23, 2018

CORAL SPRINGS, FLA. — Exeter Property Group will break ground on four new industrial buildings along the Sawgrass Expressway in South Florida’s Coral Springs. The Pennsylvania-based development company is finishing work on 4030 N.W. 126th St., a 215,486-square-foot, cross-dock facility that is fully preleased to a private flooring company. Exeter has started construction on the second building at the park, which will complete build-out of Coral Springs Commerce Center Phase I. The 215,486-square-foot building is located at 4050 N.W. 126th St. and is scheduled to deliver in January 2019. Less than a mile away, Exeter will break ground on the second phase of Coral Springs Commerce Center. The 40-acre site on Coral Ridge Drive will include three speculative buildings. Exeter acquired the site in 2017 from Swiss manufacturer Hoerbiger. The sale included an existing 193,211-square-foot building that Exeter plans to remodel with a new roof and modern tilt-wall front. Exeter will break ground on Phase II of the project this summer.

July 23, 2018

Acquisitions Industrial Midwest Minnesota

Coldwell Banker Arranges Sale of 821,190 SF Industrial Warehouse in Waseca, Minnesota

by Kristin Harlow July 23, 2018

WASECA, MINN. — Coldwell Banker Commercial Fisher Group (CBCFG) has arranged the sale of an 821,190-square-foot industrial warehouse in Waseca, which is located in southern Minnesota. The sales price was not disclosed. The property, located at 2300 Brown Ave., features 54,000 square feet of office space as well as climate-controlled storage and rail access. A group of Minnesota-based developers purchased the asset. The seller was not disclosed. David Schooff of CBCFG is marketing the property for lease. Brown Printing occupied the building upon its opening in 1949, and Quad/Graphics occupied the property until about four years ago, according to local media. The building now sits vacant.

July 23, 2018

Illinois Industrial Leasing Activity Midwest

Third-Party Logistics Company Signs 371,994 SF Industrial Lease in Lockport, Illinois

by Kristin Harlow July 23, 2018

LOCKPORT, ILL. — Kane Is Able Inc. has signed a 371,994-square-foot industrial lease at Heritage Crossing in Lockport, about 30 miles southwest of Chicago. The third-party logistics warehousing, transportation and supply chain company will occupy the space at 14630 S. 147th Court. The property features a clear height of 36 feet and is located near I-355. Trent Smith and Eric Beichler of Mohr Partners represented the tenant in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners.

July 23, 2018

California Development Industrial Self-Storage Western

Platinum Storage Group to Develop 1,087-Unit Self-Storage Facility in Oakland

by Amy Works July 23, 2018

OAKLAND, CALIF. — Orange County-based Platinum Storage Group is developing Storage Direct Oakland, a self-storage facility in Oakland. With construction is slated to begin immediately, the four-story, 155,000-square-foot property will feature 1,087 self-storage units. Completion is scheduled for July 2019. Platinum’s portfolio comprises 2.5 million square feet of space with a value of approximately $250 million.

July 23, 2018

Underwood-Port-Logistics-Center-Pasadena-Texas

Development Industrial Texas

Arch-Con Breaks Ground on 404,160 SF Distribution Center in Pasadena, Texas

by Taylor Williams July 20, 2018

PASADENA, TEXAS — Arch-Con Corp, a general contractor with offices in Houston and Dallas, has broken ground on Underwood Port Logistics Center, a 404,160-square-foot industrial asset near Port Houston in Pasadena. Developed by Triten Real Estate Partners and Carlyle Group, the property will feature 36-foot clear heights, clerestory windows, full dock packages at the overhead doors and proximity to both the Bayport and Barbours Cut Terminals.

July 20, 2018

Acquisitions California Industrial Western

CT Sells Two Industrial Buildings in Northern California for $47M

by Amy Works July 20, 2018

STOCKTON, CALIF. — Newport Beach-based CT has completed the sale of two newly constructed industrial buildings within its NorCal Logistics Center in Stockton. Prologis acquired the properties for $47 million. Totaling 575,127 square feet, the assets mark the initial completion of CT’s three-building Phase I development of the larger 4.4 million-square-foot NorCal Logistics Center. Prologis paid approximately $82 per square feet for the buildings, which were unleased and in shell condition at closing. Cushman & Wakefield’s Kevin Dal Porto, Blake Rasmussen and John McManus represented CT, while Prologis was self-represented in the deal. Situated on a 345-acre site, NorCal Logistics Center is home to General Mills, KeHE Foods, Allen Distributors and Fox Head.

July 20, 2018

Acquisitions California Industrial Western

Tortilla Maker Purchases Bakery in Metro Sacramento, Plans $25M Retrofit

by Amy Works July 20, 2018

ELK GROVE, CALIF. — Mi Rancho, a California-based tortilla maker, has acquired the former Bimbo Bakeries property, located at 10115 Iron Rock Way in Elk Grove, a southern suburb of Sacramento. An undisclosed seller sold the property for $8.1 million. San Leandro-based Mi Rancho plans to invest $25 million to retrofit the facility to Safe Quality Food Institute standards. The company’s expansion plans include state-of-the-art manufacturing operations to support its growing business. Mi Rancho plans to commence local operations within the next 90 days and fully retrofit and occupy the building within 24 months. When fully operational, the company will employ approximately 250 people in Elk Grove.

July 20, 2018

Development Illinois Industrial Midwest

Meridian Breaks Ground on 124,575 SF Speculative Industrial Facility in Woodridge, Illinois

by Kristin Harlow July 20, 2018

WOODRIDGE, ILL. — Meridian Design Build has broken ground on a 124,575-square-foot speculative industrial facility in Woodridge, a southwest suburb of Chicago. The property is located at 2379 Davey Road near I-55 and I-355. Molto Properties is the developer. The building will feature a clear height of 32 feet, 18 loadable docks, four drive-in doors and 143 car parking spaces. Completion is slated for this October. Jim Estus of Colliers International is marketing the space for lease. Harris Architects is the project architect and Kimley-Horn is the civil engineer.

July 20, 2018

Acquisitions Development Industrial Texas

Majestic Acquires 46 Acres for 500,000 SF Industrial Project in Kyle, Texas

by Taylor Williams July 19, 2018

KYLE, TEXAS — Los Angeles-based Majestic Realty Co. has acquired 46 acres for the development of a 500,000-square-foot industrial project in Kyle, located along the Interstate 35 corridor between Austin and San Antonio. Branded Majestic Plum Creek Business Park, the property will deliver Class A, tilt-wall buildings that can accommodate all manner of industrial uses. Majestic will invest approximately $39.7 million in the project, which is being developed on a speculative basis. Construction is scheduled to begin during the fourth quarter. Tate Hinkelman and Marshall Davidson of Avison Young represented the seller, Plum Creek Development Partners, in the land deal. Joe Birdwell of American Southwest represented Majestic.

July 19, 2018

Industrial Leasing Activity Texas

Schlumberger Signs 226,000 SF Office Lease Renewal, Expansion in Houston

by Taylor Williams July 19, 2018

HOUSTON — Schlumberger Technology Corp., a division of international oilfield services firm Schlumberger Ltd., (NYSE: SLB) has renewed and expanded its office lease in Houston. The company now occupies 226,000 square feet at 1430 Enclave Parkway in the Energy Corridor area on Houston’s west side. Owned by Atlanta-based Piedmont Office Realty Trust (NYSE: PDM), the Class A property totals 312,564 square feet. The size of Schlumberger’s original footprint was not disclosed, but the new lease carries a 10-year term and the company now occupies roughly 72 percent of the total leasable space.

July 19, 2018

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