RICHMOND, VA. — Brother International Corp., a manufacturer of printing, labeling and sewing machines, has signed a 461,700-square-foot lease to fully occupy Richmond’s largest ever speculative warehouse building. Brother International is relocating from New Jersey and is expected to move in to the new warehouse in the second quarter of this year. Matt Anderson of Colliers International represented the landlord, Panattoni Development Co., and Gregg Christoffersen and Andy Zezas of JLL represented Brother International in the lease transaction.
PISCATAWAY, N.J. — NAI James E. Hanson has negotiated the sale of a 41,700-square-foot industrial building in Piscataway. The sales price was not disclosed. Located at 727 S. Ave., the property features 14-foot ceilings, five loading platforms and one drive-in door as well as 2,500 square feet of office space. Eric Demmers and Russell Verducci of NAI James E. Hanson represented the buyer, cabinet manufacturer Cavalli Cabinets LLC, in the transaction. The seller was Deals for Less LLC. Cavalli Cabinets plans to use the space for kitchen cabinet manufacturing, warehouse and distribution.
NEW LONDON, CONN. — The Hampshire Cos. has acquired a two-acre parcel in New London and has unveiled plans to develop a 100,000-square-foot self-storage facility on the site. The development site is located at 351 N. Frontage Road. The 800-unit facility will feature modern architecture with four levels of climate-controlled storage space. Construction is slated to begin in the second quarter. Hampshire Cos. has repositioned or developed 33 self-storage facilities with an aggregate value of more than $415 million since 2012.
GOODYEAR, ARIZ. — Minnesota-based Andersen Corp., a window and door manufacturer, along with Opus Development Co., has broken ground on a manufacturing facility within Goodyear Crossing Industrial Park in Goodyear. Situated on 26 acres, the 550,000-square-foot facility will feature 21 truck bays on the east side of the building, four truck bays on the southeast corner, rail service by two lines and a front entrance with two stories of glass windows. As lead developer, designer and constructor, Opus expects the building shell to be completed in October, and Andersen aims to have the facility fully operational by first-quarter 2020. The project team includes Opus Development Co. as developer, Opus Design Build as design-builder and Opus AE Group as architect and structural engineer of record. Cushman & Wakefield represented Andersen, while JLL represented Opus in the lease deal.
DENVER — Scott Development Group has completed the sale of an industrial facility located on a 4.5-acre site at 10777 E. 45th Ave. in Denver’s Montebello submarket. 3939 Williams Building Corp. acquired the property for $6 million. The property features 57,000 square feet of manufacturing and distribution space. Nick Schill of Pinnacle Real Estate Advisors represented the seller in the transaction.
PISCATAWAY, N.J. — Snack food manufacturer CLIO LLC has signed a 20,300-square-foot industrial lease in the Piscataway Corporate Center in Piscataway. CLIO will utilize the space at 141 Ethel Road West to manufacture and distribute their chocolate-dipped Greek yogurt bars. The property features 22-foot ceilings and energy-efficient HVAC systems. Jaime Zimmel of Zimmel Associates represented the owner, Denholtz Associates, in the transaction. Terms of the lease were not disclosed.
HOUSTON — SSR Holdings LLC has sold a 46,250-square-foot industrial building located at 1414 Sakowitz St. in Houston. According to LoopNet Inc., the property was built in 1974. Robert McGee and Chase Cribbs of Lee & Associates represented SSR Holdings in the deal. Brandon Wuntch, also of Lee & Associates, represented the buyer, PDFE Vinyl LLC.
CHICAGO — First Logistics, a third-party logistics company, has signed a 331,059-square-foot industrial lease in Chicago. The Illinois-based company is expanding from its current facility in Alsip and will occupy the new space immediately. Located at 2075 W. 43rd St., the speculative development spans 633,057 square feet and features a clear height of 32 feet. Known as Marina Crossings, the rail-served property is situated on 35 acres. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire of Cushman and Wakefield represented the landlord, Marina Crossings Owner LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management. Larry Hanley of Midwest Commercial Real Estate represented the tenant.
CRYSTAL LAKE, ILL. — Podolsky Circle CORFAC International has arranged the sale of 300 Millennium Drive in Crystal Lake for $8 million. The 92,453-square-foot industrial building is fully leased. It features a clear height of 21 feet, three truck docks, three drive-in doors and office space. Alissa Adler, John Homsher, Paul Tesdal and Stephen Podolsky represented the buyer, MR Michigan LLC. A local investor purchased the asset.
When real estate professionals think of the New Orleans industrial market, oil companies, the Port of New Orleans (recently rebranded Port NOLA) and distribution companies come to mind. That thought is currently undergoing an evolution. The historically industrial areas of New Orleans are being absorbed seemingly daily by an insurgence of retail and entertainment-based business. As traditional retail in American shopping and strip malls is on the decline, developers are rushing to buy warehouses for physical entertainment and non-traditional uses. Port NOLA used to be home strictly to cargo ships and tankers, but is now expanding to fill the need of cruise ships. Norwegian, Carnival and the newly announced Viking Cruise lines all now use it as a docking port. The $2 billion port master plan encompasses the growth needs of the cruise ships, as well as the recently announced deepening of the Mississippi River’s main channel to 50 feet. However, Tchoupitoulas Street warehouses that once served the port are being turned into cross-training gyms and breweries. High-profile industrial properties are in huge demand. Drive Shack, a competitor of popular Topgolf, is developing a $29 million venue at the old Times-Picayune newspaper site owned by Howard Investors LLC, which is …