Industrial

King Solutions Signs 160,669 SF Industrial Lease in Glendale Heights, Illinois

by Kristin Harlow May 2, 2018

GLENDALE HEIGHTS, ILL. — King Solutions Inc. has signed a 160,669-square-foot industrial lease in Glendale Heights, about 30 miles west of Chicago. The property is located at 500 Regency Drive. This is the first location in the Chicago area for the asset-based 3PL provider of freight transportation management, retail project logistics, order fulfillment and warehousing services. Built on 9.4 acres in 1989, the warehouse features a clear height of 25 feet, seven exterior docks, one interior dock and two drive-in doors. The property can accommodate parking for 200 cars. Michael Morgan, Jim Herbst and Brian Netzky of Colliers International represented King Solutions in the lease transaction. Jeff Janda of Lee & Associates represented the landlord, Gateway.

May 2, 2018

Illinois Industrial Loans Midwest

Cohen Financial Secures $5.8M Refinancing for Industrial Property in Chicago

by Kristin Harlow May 2, 2018

CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $5.8 million loan for the refinancing of Workshop 4200 located at 4200 W. Diversey Ave. in Chicago. The 153,000-square-foot industrial property has been renovated into a workshop for creative and artisan tenants such as photographers, visual and sculptural artists, candle makers, coffee roasters and furniture makers. Workshop 4200 features a gallery space in the common area that hosts events, meetings, happy hours and showcases tenant artwork. Many of the artist tenants have relocated to the building from other properties in the city. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the loan with Morgan Stanley.

May 2, 2018

Acquisitions Industrial New Jersey Northeast

Stro Companies Acquires 45,000 SF Industrial Building in Elmwood Park

by David Cohen May 1, 2018

ELMWOOD PARK, N.J. — The Stro Companies has acquired 475 Mola Boulevard, a 45,000-square-foot industrial building in Elmwood Park for $4.1 million. SB One Bank provided the acquisition financing. The seller was an owner occupant. Stro plans to relaunch the asset with a complete reposition and upgrade program, including interior and exterior improvements that will subdivide the existing two units into four. Currently 32,000 square feet of the building sits vacant.

May 1, 2018

Acquisitions Industrial New Jersey Northeast

Marcus & Millichap Negotiates $1M Sale of Industrial Building in Hackensack

by David Cohen May 1, 2018

HACKENSACK, N.J. — Marcus & Millichap has negotiated the sale of a 7,200-square-foot industrial property in Hackensack for $1 million. The building is located at 174 Lodi St. in Hackensack, 14 miles northeast of Manhattan. The sole tenant of the building is a laundry services company. Steve Lim of Marcus & Millichap represented the seller in the transaction, a private investor and the buyer, also a private investor.

May 1, 2018

Foster-Ridge-Distribution-Center-San-Antonio

Development Industrial Texas

Koontz Begins Work on 327,000 SF Distribution Center in San Antonio

by Taylor Williams May 1, 2018

SAN ANTONIO — Koontz Corp., a San Antonio-based development firm, has begun work on Foster Ridge Distribution Center, a 327,000-square-foot industrial facility in northeast San Antonio. The property will be situated on a 21-acre site that is located near a distribution center leased to Dollar General and an 871-acre site that was acquired by H-E-B last fall. The cross-dock facility will feature 32-foot clear heights, 75 dock-high overhead doors, 130-foot truck courts and an ESFR sprinkler system. Foster Ridge Distribution Center will be able to accommodate a single large user or multiple smaller tenants. The groundbreaking ceremony will be held later this week and completion is slated for the first quarter of 2019. Houston-based Powers Brown is serving as the architect for the project and San Antonio-based R.C. Page is serving as general contractor. HFF arranged financing for the project through Voya Financial Inc. and Dallas-based Catlyn Capital Corp.

May 1, 2018

Development Industrial Self-Storage Texas

HSM to Open 763-Unit Self-Storage Facility in Metro Dallas on May 7

by Taylor Williams May 1, 2018

GARLAND, TEXAS — Under the auspices of a limited partnership, Henry S. Miller Cos. (HSM) will open a 763-unit self-storage facility at 1200 State Highway 66 in Garland, a northeastern suburb of Dallas. The grand opening of the facility, which totals 77,000 net rentable square feet, is set for Monday, May 7. Approximately 88 percent of the units will be climate-controlled and 12 percent will be non-climate-controlled. Pennsylvania-based self-storage REIT CubeSmart will manage the facility.

May 1, 2018

Acquisitions Industrial North Carolina Southeast

HFF Arranges $6.8M Sale of Industrial Building in High Point, North Carolina

by Camren Skelton May 1, 2018

HIGH POINT, N.C. — HFF has arranged the $6.8 million sale of an industrial building located at 4160 Mendenhall Oaks Parkway, within the master-planned Mendenhall Business Park in High Point. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, a partnership between a private company and Somerset Properties. Dalfen America Corp. acquired the property, which totals 107,480 square feet and features 24-foot clear heights, two drive-in doors and the ability to add additional loading via 14 knock-out panels. The building was fully leased at the time of sale to three tenants, two of which are headquartered at the facility. In addition, HFF is representing the seller in marketing four single-story office buildings and two multi-story office buildings located within Mendenhall Business Park.

May 1, 2018

Development Industrial Midwest Wisconsin

Badger Property Investments to Develop 60,000 SF Industrial Building for SSI Technologies in Milton, Wisconsin

by Kristin Harlow May 1, 2018

MILTON, WIS. — Badger Property Investments is developing a 60,000-square-foot industrial building for SSI Technologies Inc. in Milton, about 35 miles southeast of Madison. The property will be located in the Crossroads Business Park. Construction is expected to begin in May with completion slated for this fall. Janesville, Wis.-based SSI Technologies is a designer and manufacturer of a variety of sensors and control systems for the international automotive and heavy vehicle markets. Locally, the company has 1,000 employees and currently operates from three facilities in Janesville, with more than 400,000 square feet of combined manufacturing and office space. Bill Mears and Scott Pateros of Coldwell Banker Commercial McGuire Mears & Associates assisted SSI Technologies with the process.

May 1, 2018

California Development Industrial Western

Conor Commercial, ARA Break Ground on 814,852 SF Industrial Building in Bay Area

by Amy Works May 1, 2018

FREMONT, CALIF. — Conor Commercial Real Estate and American Realty Advisors (ARA) have broken ground on Pacific Commons Industrial Center, a distribution center located at the southwest corner of Cushing Parkway and Bunche Drive in Fremont. Slated for completion in second-quarter 2019, the 814,852-square-foot logistics and fulfillment center will feature 36-foot clear heights, cross-dock configurations, an ESFR sprinkler system, 141 dock doors, 143 trailer parking stalls and flexible office space. Designed to achieve LEED Silver certification, the property will also feature 68 electric vehicle charging stations. Situated on 41 acres, the property is in close proximity to interstates 880 and 680, Warm Springs BART station and Pacific Commons Shopping Center. The developers have retained Rob Shannon, Chip Sutherland and Doug Norton of CBRE to market the property for lease.

May 1, 2018

Acquisitions California Industrial Western

Voit Real Estate Negotiates $3.3M Sale of Industrial Asset in El Cajon, California

by Amy Works May 1, 2018

EL CAJON, CALIF. — Voit Real Estate Services has brokered the sale of a two-building industrial property located at 680 W. Bradley Ave. and 1675 N. Johnson Ave. in El Cajon. Simmons Family Trust acquired the property from Actus Holdings for $3.3 million. The buyer plans to use the property, which totals 21,058 square feet, as a warehouse/distribution center for Bicycle Warehouse. The new acquisition will be Bicycle Warehouse’s eighth location and will house the company’s corporate offices, distribution warehouse and central service center. Randy LaChance and Greg Marx of Voit represented the seller, while Chris Duncan, also of Voit, represented the buyer in the transaction.

May 1, 2018

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