ST. PETERS, MO. — Amazon Inc. has unveiled plans for its first Missouri fulfillment center that will be located in St. Peters, a northwestern suburb of St. Louis. The 800,000-square-foot center will create more than 1,500 full-time jobs for picking, packing and shipping small items such as books, electronics and toys. Amazon currently operates a sortation center in Hazelwood, Mo. A timeline for development was not disclosed.
ELK GROVE VILLAGE AND GILBERTS, ILL. — Brown Commercial Group has brokered the $7 million sale of three industrial buildings in suburban Chicago totaling 136,915 square feet. The properties include 1340-1400 Higgins Road and 1425-1455 Tonne Road in Elk Grove Village, as well as 300-338 Arrowhead Drive in Gilberts. All three buildings are fully leased to multiple tenants. Dan Brown of Brown Commercial brokered the transaction on behalf of the buyer, Gilberts and Groves LLC.
WOBURN, MASS. – NKF and Cushman & Wakefield have arranged the sale of Montvale Hill, a development parcel in Woburn, a suburb of Boston. Leggat McCall Properties acquired the development opportunity from Kraft Heinz for an undisclosed price. The development site can accommodate users from 300,000 square feet to 700,000 square feet. Torin Taylor, Justin Smith and Robert Griffin of NKF, along with Christopher Porter of Cushman & Wakefield, represented the seller in the deal.
NEW YORK CITY — Terreno Realty Corp. has purchased an industrial complex, located at the One Bulova Ave. in the Woodside area of Queens. Bulova sold the three-acre corporate campus for $25.2 million. The property features an industrial distribution building that is currently being renovated. Upon completion of the renovation in 2018, the property will feature 83,000 square feet of industrial space, six dock-high and one grade-level loading positions and parking for 168 cars. The property is 23 percent leased to one tenant on a short-term basis. Brian Ezratty of Eastern Consolidated represented the seller, while Brad Cohen, Jacob Tzfanya, Andrew Sasson and Chad Sinsheimer of Eastern Consolidated procured the buyer in the deal. Additionally, Gary Meese, also of Eastern Consolidated, served as analyst for the transaction.
GRESHAM, ORE. — A joint venture between Trammell Crow Co. and Principal Real Estate Investors (PREI) has completed Glisan Corporate Park, a 504,528-square-foot spec industrial facility in Gresham. The project sits on a 28.5-acre site at 23440 to 23800 N.E. Glisan St., roughly 16 miles east of downtown Portland. The three buildings are available for sale or lease. They range from 139,727 square feet to 200,701 square feet and feature 30- to 32-foot clear heights, ample auto parking and trailer storage. Cara Nolan and Stuart Skaug of CBRE Portland are the exclusive listing agents for the facility.
HARLINGEN, TEXAS — CARDONE Industries, a Philadelphia-based remanufacturer of car parts, is underway on a $50 million distribution center within Harlingen Industrial Park in the Rio Grande Valley. The facility will span 920,000 square feet upon completion, which is slated for December. The project became the largest industrial development to ever break ground in Harlingen when construction began in December 2017. Operations at the facility are expected to begin over the summer.
CHICAGO — Goodman Manufacturing, a member of Daikin Industries Ltd., has signed a 21,000-square-foot industrial lease at 4150 N. Knox Ave. on Chicago’s North Side. The residential and commercial HVAC company will utilize the space as a showroom, training center and distribution hub. Dayton Street Partners owns the 41,000-square-foot property, which features a clear height of 30 feet, six docks, four drive-in doors and T8 lighting. Mike Senner and Steve Kohn of Colliers International in Chicago represented Dayton Street in the lease transaction.
ATLANTA — Georgia Gov. Nathan Deal announced yesterday that social media giant Facebook Inc. (NASDAQ: FB) will invest $750 million and create at least 100 full-time jobs with its new data center in Stanton Springs, a 1,620-acre industrial park located roughly 30 miles east of Atlanta in Newton County. The Newton Data Center will include two buildings totaling 970,000 square feet and will help Menlo Park, Calif.-based Facebook provide apps and services to more than 2 billion people around the world. The new facility will be Facebook’s ninth data center in the United States. New jobs will include positions in engineering and management, as well as opportunities for data center technicians. The Newton Data Center will be fully powered by clean and renewable energy, and cooled using outdoor air instead of air conditioners. The facility will also house Facebook’s specialized hardware that powers its apps and other services. The buildings are expected to be fully operational in 2020. EJane Caraway, director of life sciences and corporate solutions for the Georgia Department of Economic Development, represented the state’s Global Commerce Division in partnership with the Joint Development Authority of Jasper, Morgan, Newton and Walton counties, Walton EMC, the Metro Atlanta Chamber, Georgia …
REDONDO BEACH AND HAWTHORNE, CALIF. — Bellwether Enterprise has closed $15.5 million in refinance loans for two industrial properties in metro Los Angeles. The refinancing included a 10-year, $10.3 million loan for the Northrop Grumman industrial building in Redondo Beach and an 11-year, $5.2 million loan for the Van Ness Commerce Center in Hawthorne. Shelley Magoffin and Max Sauerman of Bellwether Enterprise arranged the loans, which both featured fixed interest rates in the upper 3 percent range and life insurance company lenders. The 112,000 square-foot Northrop Grumman industrial building is occupied by a single tenant that has more than five years remaining on its lease. Van Ness Commerce Center features 63,000 square feet of warehouse space with a 24-foot minimum clear height. The building was 100 percent leased to two tenants when the financing was arranged, and both tenants had near-term rollover risk.
NEW YORK CITY — Triangle Equities has acquired a development site, located at 130-120 S. Conduit Ave. in South Ozone Park near John F. Kennedy International Airport in Queens, for $25.4 million. The developer plans to construct a multi-level, multi-tenant air cargo and distribution facility at the site. The 300,000-square-foot building will feature first- and second-floor loading docks and clear heights ranging from 23 feet to 26 feet. The project team includes March Associates, Craft Architects and GF55 Partners. Construction is slated to break ground in winter 2019 with tenant occupancy expected in summer 2020. Additionally, HFF has secured $32.1 million in land acquisition and pre-development financing for the project. Andrew Scandalios, Rob Hinckley, Rob Rizzi and Tyler Peck of HFF arranged an initial $10.1 million in the form of joint venture capital with L&B Realty Advisors for the borrower, Triangle Equities. Additionally, L&B has committed to the vertical capitalization of the project. Geoff Goldstein, also of HFF, placed a $19 million floating-rate loan with Citizens Bank for the development. Loan proceeds will be used for land acquisition and pre-development costs. The remainder of the capitalization came from Triangle Equities.