Industrial

Lincoln Rackhouse, Principal Acquire 454,421 SF Data Center in Plano

by Taylor Williams September 6, 2018

PLANO, TEXAS — A partnership between Lincoln Rackhouse, the data center division of Lincoln Property Co., and Principal Real Estate Investors has acquired a 454,421-square-foot data center located at 1000 Coit Road in Plano, a northern suburb of Dallas. The seller was an undisclosed Fortune 500 financial institution. The property has 8 megawatts immediately available for lease with the capacity to expand to 16 megawatts. The facility was acquired as part of a 1 million square-foot portfolio of data centers that includes properties in Kansas City and Phoenix.

September 6, 2018

Industrial Leasing Activity Texas

Consumer Goods Firm Signs 98,257 SF Industrial Lease Renewal, Expansion in Metro Dallas

by Taylor Williams September 6, 2018

CARROLLTON, TEXAS — Product Innovations Research, a Texas-based consumer goods company, has signed a 98,257-square-foot industrial lease at 1103-1215 Trend Drive in Carrollton, a northern suburb of Dallas. According to LoopNet Inc., the property was built in 1979 and is tailored to distribution users. Josh Barnes, Andrew Gilbert and Ben Wallace of Holt Lunsford Commercial represented the landlord, Stonelake Capital, in the lease negotiations.

September 6, 2018

Acquisitions Illinois Industrial Midwest

Bridge Development Sells 899,278 SF Industrial Park in Cicero, Illinois

by Kristin Harlow September 6, 2018

CICERO, ILL. — Bridge Development Partners has sold Bridge Point 290 Business Park in Cicero for an undisclosed price. Cabot Properties purchased the industrial development, a large portion of which is currently under construction. When completed, the development will total 899,278 square feet across three buildings. In March, Bridge delivered the 323,343-square-foot Building 1, which is fully leased to Royal Box Group. Buildings 2 and 3 are slated for completion in August 2019. Michael Caprile, Ryan Bain and Zach Graham of CBRE represented Bridge and its joint venture partner, Banner Oak Capital Partners LP, in the sale. Steve Connolly and Mark Moran of NAI Hiffman are marketing Buildings 2 and 3 for lease.

September 6, 2018

Industrial Market Reports Midwest Midwest Market Reports Missouri

Economic Incentives Fuel Industrial Development in St. Louis Market

by Kristin Harlow September 6, 2018

It has been a banner year thus far for the St. Louis industrial market with yet another milestone achieved. Mid-year absorption totaled 2.5 million square feet of space, a number more closely suited for the entire year versus the halfway point. Fueled by continued absorption, the market has more than 5 million square feet of space under construction with vacancy of approximately 4.9 percent. The continued success is no surprise. But economic incentives, often overlooked and underappreciated, are the unsung heroes behind each industrial development around town. Gaining knowledge Economic incentives have been a prerequisite in attracting or retaining businesses like Amazon, World Wide Technologies and Best Buy. But they do not just benefit large corporations; local and regional users are able to enjoy new Class A real estate in these developments as well. Why? Incentives help bridge the gap for the developer and the user to account for being in a low-rent, high-construction cost market, which is not a great recipe for new development. Yes, St. Louis boasts some of the lowest asking rents in the Midwest, currently averaging $4.70 per square foot for available industrial space. One would think that businesses would flock here because of the low …

September 6, 2018

Industrial Leasing Activity Texas

Logistics Firm Signs 289,200 SF Industrial Lease in Metro Houston

by Taylor Williams September 5, 2018

HUMBLE, TEXAS — Forward Air Solutions, a division of Tennessee-based distribution and logistics firm Forward Air Corp., has signed a 289,200-square-foot industrial lease in metro Houston. The company will occupy freestanding distribution space at 18727 Kenswick Drive in Humble, a northern suburb of Houston. The property was built in 2015 and currently totals 132,000 square feet, but is in the process of being expanded. Robert McGee and Chase Cribbs of Lee & Associates represented the landlord, Adkisson Group Inc., in the lease negotiations. Mike Bauer of Fischer Co. represented Forward Air.

September 5, 2018

Acquisitions Industrial Texas

ML Realty Acquires 185,220 SF Industrial Building in Dallas

by Taylor Williams September 5, 2018

DALLAS — Illinois-based investment firm ML Realty Partners has acquired a 185,220-square-foot industrial building located at 7601 Ambassador Row in Dallas. Situated in the Brookhollow submarket with convenient access to Interstate 35 and State Highway 183, the distribution-oriented property was fully leased at the time of sale to two long-term tenants. The seller was not disclosed.

September 5, 2018

Development Industrial Self-Storage Texas

NitNeil Partners to Develop 900-Unit Self-Storage Facility in Austin

by Taylor Williams September 5, 2018

AUSTIN, TEXAS — NitNeil Partners, an Atlanta-based self-storage investment and development firm, has acquired land in Austin for the construction of a 900-unit, 100,000-square-foot self-storage facility. The four-story property, which will be located about three miles from downtown Austin, is scheduled to break ground during the first quarter of 2019 and to be delivered by early 2020. The project marks NitNeil’s first investment in Texas.

September 5, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 80,269 SF Industrial Lease Renewal in El Paso

by Taylor Williams September 5, 2018

EL PASO, TEXAS — CBRE has negotiated an 80,269-square-foot industrial lease renewal at 14 Butterfield Trail Blvd. in El Paso. The warehouse/distribution facility services the Ciudad Juarez manufacturing operations of the tenant, Key Tronic Corp., a Washington-based provider of fully assembled computers and their parts. Chad McCleskey and Christian Giese of CBRE represented the landlord, Elp Butterfield 14 LLC, in the lease negotiations.

September 5, 2018

Illinois Industrial Leasing Activity Midwest

Assemblers Signs 353,322 SF Industrial Lease Renewal in McCook, Illinois

by Kristin Harlow September 5, 2018

MCCOOK, ILL. — Assemblers Inc. has renewed its lease for 353,322 square feet of industrial space in McCook, a southwestern suburb of Chicago. The private assembly and contract packaging company fully leases the building at 8601 W. 47th St. The company has occupied the space since 2016. Built in 2015, the property features a clear height of 32 feet. Geoffrey Kasselman of Newmark Knight Frank negotiated the lease transaction, which included tenant improvements such as more power to support additional cooler and freezer areas, on behalf of Assemblers. Heitman Capital Management is the landlord.

September 5, 2018

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 88,000 SF Industrial Building in Piscataway

by David Cohen September 4, 2018

PISCATAWAY, N.J.— Cushman & Wakefield has brokered the sale of an 88,000-square-foot industrial building in Piscataway. The sales price was undisclosed. Jason Barton, Chuck Fern, Tom Tucci and Stephen Shoemaker of Cushman & Wakefield represented the seller, S.S. White Technologies Inc., a manufacturer of aerospace parts, in the transaction. The buyer was N.J. CRR LLC. The property is located at 151 Old New Brunswick Road.

September 4, 2018

Newer Posts

Older Posts