COLUMBUS, OHIO — Sealy & Co. has acquired a 478,190-square-foot industrial building in Columbus for an undisclosed price. The building is currently 53 percent occupied by a startup company known as Le Tote, which is a personalized clothing subscription company. The property, known as CenterPoint #6, is located within CenterPoint Business Park. The 4 million-square-foot industrial park is located near I-270. The seller was not disclosed.
FORT WAYNE, IND. — Cushman & Wakefield has negotiated a 282,550-square-foot, seven-year industrial lease renewal on behalf of Essex and Essex Brownell in Fort Wayne. The property is located at 3405 Meyer Road. Essex is a magnet wire product manufacturer while Essex Brownell is a North American distributor of a wide variety of industrial service and repair parts. The building will also continue to be a home for Essex Active, an industrial material conversion and fabrication service offered by Essex Brownell. Kirk Diamond, Greg Dickerson and Fritz Kauffman of Cushman & Wakefield represented Essex in the lease negotiation. Steve Zacher and John Adams of The Zacher Company represented the landlords, Indiana Acquisitions and Continental Hastings. The 862,450-square-foot warehouse is part of the Coastal Commerce Center. Both Essex and the landlord plan to invest capital to upgrade the space. Five other tenants also occupy space at the property.
Amarillo’s industrial market is truly a tale of two sectors, as some form of that expression goes, and the key number is 50,000 square feet. The occupancy rate for industrial properties in the sub-50,000-square-foot range in Amarillo remains very high, with few properties of this size sitting on the market for extended amounts of time. With such high occupancy rates, several new developments have recently sprung up. Those with both large footprints and divisible floor plans to meet the needs of smaller tenants tend to be most successful in terms of leasing velocity. In addition, developers of this product type are seeing its success and gravitating to Amarillo with spec projects. This sector of the industrial market should remain profitable for developers unless construction costs increase at a greater pace than rents can justify. The lull lies in existing properties that measure more than 50,000 square feet. In a smaller market like Amarillo, properties of this size sitting empty can be an ominous sign, and a few in particular have really come to symbolize concerns about sales of assets of this magnitude. Such properties include a 140,208-square-foot manufacturing facility previously occupied by chemicals manufacturer Techspray; a 115,000-square-foot facility formerly occupied …
AGAWAM, MASS. — Fantini & Gorga has secured $2.3 million in acquisition financing for an industrial building in Agawam. Jason Cunnane and Cas Groblewski of Fantini & Gorga arranged financing through a Massachusetts-based financial institution on behalf of the borrower, a group of investors. The property features 140,000 rentable square feet and is located on 21 acres of land. The seller was undisclosed.
FORT WORTH, TEXAS — Hillwood will build two industrial facilities totaling approximately 1.3 million square feet within the AllianceTexas mixed-use development in Fort Worth. Alliance Center North 3 will offer 782,000 square feet and Alliance Northport 1 will total 500,000 square feet. Both properties will feature cross-dock configurations, 36-foot clear heights, ample trailer parking and adjacent land for future parking expansions. Construction of both buildings is expected to begin in August and wrap up by March 2019.
RICHARDSON, TEXAS — Charlotte, N.C.-based Romans Properties LLC has arranged the sale of a 75,119-square-foot data center located at 1001 E. Campbell Road in Richardson, a northeastern suburb of Dallas. The sales price was approximately $36.6 million. The property is fully leased to Sungard AS, a Pennsylvania-based provider of recovery software for cloud computing and data systems. Chris Orr of Romans Properties represented the buyer, an institutional investor, in the transaction.
LEWIS CENTER, OHIO — Romans Properties has brokered the $5 million sale of a data center in Lewis Center, about 20 miles north of Columbus. The 57,000-square-foot facility is located at 8180 Green Meadows Drive. The property is fully leased by Cyxtera, which provides data center colocation, cybersecurity and cloud-based services. Chris Orr of Romans represented the buyer, an institutional client. The seller was not disclosed.
SAN JOSE, CALIF. — PCCP, in a joint venture with Lincoln Property Co., has acquired Valley Technology Centre, a seven-building office and R&D complex located on 26.4 acres in San Jose. MWest sold the property for an undisclosed price. Built in 2000, the 464,000-square-foot property was 74 percent leased at the time of sale. The complex comprises seven two-story office and R&D facilitates with 18-foot clear height on the ground floors to accommodate roll-up doors and shipping/receiving requirements. The properties are located at 2660, 2680, 2700, 2720, 2740 Zanker Road and 2585 and 2595 Junction Ave. in North San Jose.
SAN ANTONIO — Dallas-based Colony Industrial has purchased Enterprise Industrial Park Building III, a 359,251-square-foot warehouse/distribution property located one mile from Interstate 35 in San Antonio. Developed by Atlanta-based Robinson Weeks Partners, the cross-dock building features 32-foot clear heights, 73 trailer spaces, office space and an ESFR sprinkler system. Colony Industrial acquired Buildings I and II in Enterprise Industrial Park in March.
DALLAS — Holt Lunsford Commercial (HLC) has negotiated a 98,489-square-foot industrial lease at 7601 Ambassador Row in Dallas. The distribution-oriented property was built in 1958 and totals 185,220 square feet. Canon Shoults and Josh Barnes of HLC represented the landlord, Frontier Equity, in the lease negotiations. Craig Jones of JLL represented the undisclosed tenant.
