Industrial

Cushman & Wakefield Brokers $47.8M Sale of Two-Story Distribution Building in Jacksonville

by Camren Skelton June 15, 2018

JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the $47.8 million sale of One Imeson Distribution Center, a two-story, 1.7 million-square-foot industrial building located within Jacksonville’s Imeson Industrial Park. The property includes a 12.3-acre container storage area, as well as a 24.2-acre site that can accommodate an expansion or future build-to-suit development. Mike Davis, Karl Johnston, Tyler Newman, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of the seller, GIV Imeson LLC. Arsenault Holdings LLC acquired the asset. One Imeson includes 1.5 million square feet of industrial space and 248,317 square feet of office space. The building was 74 percent leased at the time of sale to tenants such as Bacardi, General Dynamics, Komyo America (Honda), Venus Swimware, the Jacksonville Supervisor of Elections and Samsonite. The property was constructed in 1974 and was last renovated in 2015. Improvements included an entire new roofing system, new chillers, lighting upgrades and various cosmetic improvements.

June 15, 2018

Illinois Industrial Leasing Activity Midwest

UBM Signs 203,000 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow June 15, 2018

ITASCA, ILL. — United Business Mail (UBM) has signed a 203,000-square-foot industrial lease in Itasca. The company will fully occupy the space at 801 Bryn Mawr Ave. UBM’s former facility in Bensenville is under contract to an undisclosed buyer. The new Itasca property will serve as UBM’s Midwest hub and features a clear height of 24 feet, 15 exterior docks, one drive-in door and 6,100 square feet of office space. At 2,500 amps, the building has more than five times the power typically found in these types of properties. UBM will use the increased power capacity to run dozens of mail sorting machines and air conditioning systems. Steve Kohn of Colliers International represented UBM in the lease transaction. The landlord was not disclosed. UBM provides commingle services, which involves presorting mail to maximize savings on postage.

June 15, 2018

Illinois Industrial Leasing Activity Lee & Associates Midwest

Lee & Associates Negotiates 75,539 SF Industrial Lease in West Chicago

by Kristin Harlow June 15, 2018

WEST CHICAGO, ILL. — Lee & Associates has negotiated a 75,539-square-foot industrial lease on behalf of MAPEI Corp. in West Chicago. The property is located at 1701 W. Hawthorne Lane. Wise Plastics occupies the remaining portion of the 150,000-square-foot facility. Michael Androwich Jr. and Nick Eboli of Lee & Associates represented MAPEI, an international manufacturer of adhesives, sealants and other chemical products for the building industry. Michael Magliano of Cushman & Wakefield represented the owners, Cabot Properties and Blackstone Group.

June 15, 2018

Grocers-Supply-Distribution-Center-Houston

Development Industrial Texas

Liberty Begins Work on 727,600 SF Distribution Center for Grocers Supply in North Houston

by Taylor Williams June 15, 2018

HOUSTON — Liberty Property Trust (NYSE: LPT) has begun work on a 727,600-square-foot distribution center in north Houston. The project is a build-to-suit for Grocers Supply, a division of C&S Wholesale Grocers, which has signed a long-term lease. The property will feature 40-foot clear heights, 65-foot speed bays, 75 dock doors and parking for 211 trailers and 667 cars. Completion is slated for the second quarter of 2019. Liberty Property Trust has also sold 34 acres located adjacent to the project site to the tenant.

June 15, 2018

Acquisitions Industrial Texas

Berkeley Partners Sells 1 MSF Industrial Portfolio in DFW Area

by Taylor Williams June 15, 2018

DALLAS — San Francisco-based investment firm Berkeley Partners has sold seven industrial properties in the Dallas-Fort Worth (DFW) area totaling approximately 1 million square feet. The warehouse and light industrial assets encompass 28 buildings and are part of an 11-property portfolio that was 87 percent leased at the time of sale. Adam Herrin, Stephen Bailey, Chris Norvell and Ralph Smalley of HFF represented Berkeley Partners in the sale. A partnership between California-based private equity firm Circle Industrial and international investment firm FREO Group purchased the properties for an undisclosed price.

June 15, 2018

Acquisitions Industrial Massachusetts Northeast

Kelleher & Sadowsky Negotiates $5.1M Sale of Industrial Facility in Massachusetts

by David Cohen June 14, 2018

STERLING, MASS. — Kelleher & Sadowsky has negotiated the sale of 16 Chocksett Road, an industrial facility in Sterling. The asset traded for $5.1 million. Donald Mancini and Jim Egan of Kelleher & Sadowsky represented the seller, The Cycles 2003 Realty Trust, in the transaction. The Stubblebine Company/CORFAC International represented the buyer, Biomedical Polymers, a global manufacturer of plastic products for research and medical diagnostic laboratories. The property includes four loading docks and 7,000 square feet of office space on 7.7 acres.

June 14, 2018

Acquisitions Georgia Industrial Southeast

Avison Young Brokers $9M Sale of 130,250 SF Warehouse in Metro Atlanta

by Camren Skelton June 14, 2018

KENNESAW, GA. — Avison Young has brokered the $9 million sale of 3075 Chastain Meadows Parkway, a 130,250-square-foot warehouse in the northwest Atlanta suburb of Kennesaw. Brent Weitnauer, Chip Watson and Ben Parker of Avison Young arranged the transaction on behalf of the seller, Suzuki. Exeter 3075 Chastain Meadows LLC, an affiliate of Exeter Property Group, acquired the asset. The building has the capability to expand by an additional 2.9 acres.

June 14, 2018

Development Industrial Texas

Crow Holdings Breaks Ground on 349,050 SF Distribution Center in Houston

by Taylor Williams June 14, 2018

HOUSTON — Crow Holdings Industrial, the industrial development arm of Dallas-based Crow Holdings, has broken ground on Victory Commerce Center, a 349,050-square-foot distribution center in Houston. The tilt-wall property will feature 32-foot clear heights, 185-foot truck courts and additional outside storage space. The property is located on the city’s southeast side, near Port Houston, Beltway 8 and State Highway 225. Delivery is slated for the first quarter of 2019.

June 14, 2018

Acquisitions Industrial Texas

Mitchell Asset Group Acquires 320,672 SF Industrial Portfolio in Texas

by Taylor Williams June 13, 2018

DALLAS, SAN ANTONIO AND LUBBOCK, TEXAS — Fort Worth-based Mitchell Asset Group Inc. has acquired a 320,852-square-foot industrial portfolio from private equity firm Pacific Avenue Capital Partners. The properties include a 136,882-square-foot facility located at 11100 Plano Road in Dallas; a 104,000-square-foot asset located at 3101 Aniol St. in San Antonio; and a 79,790-square-foot building located at 1919 Avenue E in Lubbock. The properties were acquired in a sale-leaseback transaction for an undisclosed price. Walker & Dunlop arranged debt for the acquisition through UBS.

June 13, 2018

Development Industrial Texas

IGX to Develop 350,000 SF Industrial Building in San Antonio

by Taylor Williams June 13, 2018

SAN ANTONIO — Schertz, Texas-based Industrial Group Southwest (IGX) will develop a 350,000-square-foot industrial building in San Antonio. The development marks Phase I of Brooks Business Park, a six-building project on the city’s south side that will ultimately deliver about 1.1 million square feet of industrial space. Buildings will range in size from 30,000 to 600,000 square feet. The initial 350,000-square-foot building is expected to be complete before year’s end.

June 13, 2018

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