Industrial

Oakdale-Logistics-Center-Grand-Prairie-Texas

CT Realty, Port Logistics Break Ground on 401,577 SF Industrial Facility in Metro Dallas

by Taylor Williams June 12, 2018

GRAND PRAIRIE, TEXAS — A partnership between California-based CT Realty and Texas-based Port Logistics Realty has broken ground on Oakdale Logistics Center, a 401,577-square-foot industrial facility in Grand Prairie. The Class A warehousing and distribution facility will feature a cross-dock configuration, 175 dock-high doors, 32-foot clear heights and 185-foot truck court depths. Completion of the project, which marks the third collaboration between the two firms in the Dallas-Fort Worth (DFW) metroplex, is slated for the first quarter of 2019.

June 12, 2018

Acquisitions California Industrial Western

VRS International Acquires 38,900 SF Industrial Building in California for $6.5M

by Amy Works June 12, 2018

CARLSBAD, CALIF. — Carlsbad-based VRS International has purchased an industrial building, located at 1958 Kellogg Ave. in Carlsbad. Bend, Ore.-based Canard Add* Ventures sold the property for $6.5 million. The 38,900-square-foot industrial building features a two-story lobby, heavy power and fenced yard. Kelly Nicholls of Lee & Associates – North San Diego County represented the seller and buyer in the deal.

June 12, 2018

Industrial Market Reports Nevada Western Western Market Reports

E-Commerce, Advanced Manufacturing Attract Capital to Reno

by Taylor Williams June 12, 2018

Industrial sales and leasing in the Reno-Sparks area remains one of the best performing sectors in the marketplace, just as it did in 2017. With a record vacancy percentage below 4 percent, combined with new buildings being occupied upon completion, the strong demand for new and existing industrial product is a welcome normality from previous years. The North Valley’s submarket has been the dominant center point for speculative development. It is currently the fastest-growing submarket in Reno, as nearly 50 percent of the transactions containing more than 50,000 square feet were concentrated in this submarket. This is primarily attributed to the abundance of skilled labor in the area and proximity to Interstate 80. Developers continue their hunt for buildable land in the area, though the availability of readily developable parcels is dwindling. Driven by consumer shifts toward internet goods, along with burgeoning advanced manufacturing, capital from institutional and regional investors alike have entered Reno’s industrial market. This has led to the industrial market posting the largest volume and most competitive assets. Last year’s investment volume was up 90 percent year over year, with a 14 percent increase in the total number of sales. The most recent eye-opener was Blockchains’ acquisition …

June 12, 2018

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 198-Unit Self-Storage Facility in Wichita Falls, Texas

by Taylor Williams June 11, 2018

WICHITA FALLS, TEXAS — Bellomy & Co. has arranged the sale of Hot Shots Storage, a 198-unit self-storage facility in the North Texas city of Wichita Falls. The facility spans 21,950 square feet of net rentable space. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Dallas-based buyer in the transaction. Chris Storm of Henry S. Miller (HSM) represented the undisclosed seller.

June 11, 2018

Acquisitions Florida Industrial Southeast

HFF Negotiates $22.8M Sale of Leasehold Interest in Industrial Property Near Miami Airport

by Camren Skelton June 11, 2018

MIAMI — HFF has arranged the $22.8 million sale of the leasehold interest in a two-building, 211,852-square-foot industrial property located roughly one mile from Miami International Airport. Manuel de Zárraga, Tracey Goo and Luis Castillo of HFF arranged the transaction on behalf of the seller, iStar Inc., and procured the buyer, the Dayan family from Brazil. Safety, Income & Growth Inc., managed by iStar, will hold the fee-simple land position in its portfolio of ground leases. The property is triple-net-leased for 99 years to LSG Sky Chefs, a company owned by Deutsche Lufthansa AG that provides on-board airline catering services for many of the major airlines operating out of Miami International Airport. The two-story buildings feature refrigerated areas, commercial kitchens, freight elevators, 47 dock-high loading doors and executive offices. A land parcel used as a vehicle maintenance facility was also included in the sale.

June 11, 2018

Acquisitions Georgia Industrial Southeast

Bull Realty Brokers $9M Sale of 163,000 SF Industrial Facility Near Atlanta

by Camren Skelton June 11, 2018

PEACHTREE CITY, GA. — Atlanta-based Bull Realty has brokered the $9 million sale of a 163,000-square-foot industrial facility located at 416 Dividend Drive in Peachtree City. A private trust purchased the property from Dividend West Partners LLC. Jason Callaway and Davis Finney of Bull Realty represented the buyer, and Mark Wright of Dividend Commercial Real Estate represented the seller. Situated on 20 acres in the Atlanta suburbs, the building is fully leased to Wencor Group, an aviation solutions company. Wencor uses the facility to house its manufacturing and distribution operations for commercial airlines, aerospace repair stations and original equipment manufacturers (OEMs) worldwide.

June 11, 2018

Acquisitions Industrial Michigan Midwest

NKF Negotiates Sale of 22,000 SF Industrial Warehouse in Troy, Michigan

by Kristin Harlow June 11, 2018

TROY, MICH. — Newmark Knight Frank (NKF) has negotiated the sale of a 22,000-square-foot industrial warehouse in Troy for an undisclosed price. The property is located at 1875 Stephenson Highway. Built in 1965, the warehouse is situated on two acres and features LED lighting, storage and office space. Geoff Hill and Paul Gyarmati represented the seller, National Print and Mail. SourceHub, an online distributor of warehousing and facility equipment, purchased the property and plans to take occupancy in July.

June 11, 2018

Northern-Virginia-Industrial-Park-Springfield-Virginia

Acquisitions Industrial Southeast Top Stories Virginia

PS Business Parks Acquires 1.1 MSF Industrial Portfolio in Northern Virginia for $143.3M

by Taylor Williams June 11, 2018

SPRINGFIELD, VA. — PS Business Parks Inc. (NYSE: PSB), a California-based office and industrial REIT, has acquired a portfolio of industrial properties totaling roughly 1.1 million square feet in northern Virginia. The purchase price was $143.3 million. The portfolio consists of the 19 buildings located within the 813,725-square-foot Northern Virginia Industrial Park and the 241,000-square-foot Fullerton Industrial Park. Both of these developments, which span a combined 65 acres, are located in Springfield, about 15 miles southwest of Washington, D.C. PS Business Parks already owns three industrial parks totaling 606,000 square feet in this area. Those properties have posted a historical average occupancy of 95 percent since 2000. With the acquisition of these two properties, the company’s footprint in the Springfield/Newington submarket totals approximately 1.7 million square feet, roughly 11 percent of the submarket supply. “We are confident that these properties will achieve the same occupancy and rent growth we have accomplished in our other locations in this market,” says Maria Hawthorne, president and CEO of PS Business Parks. “The location is superb as it is adjacent to Fort Belvoir and just south of the Pentagon in a densely populated area with excellent access to transportation.” The average lease size at …

June 11, 2018

Acquisitions Industrial Texas

Colliers Arranges Sale of 57,500 SF Industrial Property in Houston

by Taylor Williams June 8, 2018

HOUSTON — Colliers International has arranged the sale of a 57,500-square-foot industrial property located at 14212 & 14210 Interdrive W. in north Houston. The facility was formerly leased to Newberry Bakery and will now serve as the headquarters of Celebrate Bakery Co. LLC, a wholesale bakery for the grocery sector. Gary Mabray, Jon Lindenberger and Paul Dominique of Colliers represented the seller, a private investor. Mark Martin of 2M Realty Advisors LLC represented the undisclosed buyer.

June 8, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 41,936 SF Industrial Lease in Oklahoma City

by Taylor Williams June 8, 2018

OKLAHOMA CITY — CBRE has negotiated a 41,936-square-foot industrial lease at 3228 N. Santa Fe Ave. in Oklahoma City on behalf of Spiers New Technologies Inc. a manufacturer of batteries for electric and hybrid cars. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented Spiers in the lease negotiations. Brett Price of Newmark Grubb Levy Strange Beffort represented the landlord, a private trust.

June 8, 2018

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