Industrial

SHIREMANSTOWN, PA. — An affiliate of Endurance Real Estate Group partnered with CenterSquare Investment Management to acquire a 712,000-square-foot former manufacturing, distribution and office facility located at 485 St. Johns Church Road in Shiremanstown. Endurance plans to demolish approximately 500,000 square feet of manufacturing, office and low-bay warehouse sections of the property to redevelop the asset into 456,810 square feet of Class A bulk warehouse and distribution space. The redeveloped project will include the renovation and expansion of the existing East Warehouse section to total 246,135 square feet with 28-foot clear heights, renovated office space and supplemental loading dock positions, and a slab-up reconstruction of a 210,675-square-foot West Warehouse section, with 32-foot clear heights and 38 loading docks. The East Warehouse is slated for delivery in April 2018 and the West Warehouse is scheduled for completion in July 2018. The property was owned and occupied by the Quaker Oats Co. through the early 2000s.

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CHARLOTTE, N.C. — Cushman & Wakefield has arranged the $52.2 million sale of The Beacon Industrial Portfolio in Charlotte, which includes three Class A industrial buildings totaling 692,833 square feet.  Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, Beacon Partners, in the transaction. Hartz Mountain Industries Inc. acquired the portfolio. Constructed in 2015, the portfolio consists of two parks — Riverwalk Commerce Center and InnerLoop North. The properties were 100 percent leased at the time of sale.

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ATLANTA — Colliers International has arranged $81 million in refinancing for a 40-property industrial portfolio in Atlanta. The portfolio is owned by a joint venture advised by New York-based Clarion Partners LLC. Kevin Troy and Hank Hall of Colliers International arranged the financing through Principal Global Investors on behalf of Clarion Partners. The portfolio, which includes 3.7 million square feet of Class A and Class B industrial buildings, was fully leased at the time of sale.

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HOUSTON — JLL has negotiated a 140,695-square-foot industrial lease in Houston on behalf of LSI Industries, an Ohio-based manufacturer of LED lighting solutions. The company will operate out of a 264,461-square-foot building located at 14902 Sommermeyer Road in Prologis Park — West by Northwest. Jeff Venghaus of JLL represented LSI Industries in the lease negotiations.

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CHICAGO — Newmark Knight Frank (NKF) has brokered the sale of an eight-building industrial portfolio totaling 314,567 square feet in suburban Chicago. The sales price was not disclosed. The properties average 40,000 square feet in size and are located in the western suburbs of Glendale Heights, Elgin, Bartlett, West Chicago and Sugar Grove. Built for light manufacturing, office and warehouse space, the facilities are 100 percent occupied. Adam Marshall of NKF represented the seller, PJT Marly LLC and its manager, Berkowitz Enterprises Inc. Toronto-based Agellan Commercial Real Estate Investment Trust purchased the portfolio.

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EDWARDSVILLE, ILL. — HDA Architects has been selected by Panattoni Development to design Lakeview Commerce Center 5, a 768,678-square-foot industrial building in Edwardsville near St. Louis. The speculative distribution center will be located in Lakeview Commerce Center and accommodate four tenants. The building will feature two-story office space at each corner. Some of the design components include a two-tone paint scheme and accent lighting. Construction is slated to begin later this summer. HDA Architects previously designed Lakeview Commerce Center 4, which consists of 769,500 square feet and is occupied by Amazon.

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COLUMBUS, OHIO — Birchwood Foods has signed a 52,800-square-foot industrial lease in Columbus. The Kenosha, Wisconsin-based meat supplier will occupy the entire building located at 1709-1763 Dividend Drive for its Columbus warehouse and distribution operations. The company also owns the production facility adjacent to this property. Ray Boll and Jeff Boll of Rj BOLL Realty arranged the lease on behalf of Birchwood Foods. Matt Osowski and Curt Berlin of NAI Ohio Equities represented the landlord, Meritex Properties.

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LogistiCenter-at-Midway-Bethel-PA

BETHEL TOWNSHIP, PA. — Dermody Properties has broken ground for the development of LogistiCenter at Midway, a distribution building located at 270 Midway Road in Bethel Township. The park will feature 1.1 million square feet of warehouse, distribution and e-commerce business space. Situated on 136 acres, the building will feature 36-foot clear ceiling heights, 60-foot loading bays, 207 car stalls (expandable to 309), 368 trailer stalls (expandable to 438), 212 dock doors, four drive-in doors and a 185-foot truck court. Ware Malcomb is serving as building architect and Blue Rock Construction is the general contractor for the project, which is slated for completion in spring 2018. Joseph McDermott, Vincent Ranalli and Jake Terkanian of CBRE are marketing the property for lease.

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150-Totowa-Road-Wayne-NJ

WAYNE, N.J. — Peykar Family Properties is developing a speculative industrial facility at 150 Totowa Road in Wayne. The project includes the demolition of a long-vacant office building and the construction of a 418,500-square-foot industrial facility and more than 40,000 square feet of mezzanine office space, totaling a 459,822-square-foot facility on the 32-acre site. The warehouse space will feature 40-foot clear ceiling heights, 42 tailgates, two drive-in doors and parking for 70 trailers and 224 cars. The facility is designed with office space on each end of the building to allow for multiple users. Completion is scheduled for the first half of 2018. Stan Danzig and Stephen Elman of Cushman & Wakefield are marketing the facility for the developer, which also owns Nourison Industries, a large carpet manufacturing company.

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105-Connecticut-Dr-Burlington-NJ

BURLINGTON, N.J. — Colliers International has arranged the sale of an industrial building located at 105 Connecticut Drive in Burlington. Crossroads Industrial acquired the building for $2.5 million, or $63.50 per square foot. The 40,500-square-foot building features 18,000 square feet of office space, 20-foot clear heights in the warehouse, four tailgate doors and one van-height door. The buyer plans to use the site as a warehouse for NYB Distributors. Financing for the acquisition was provided by Morgan Stanley Bank. Marc Isdaner of Colliers represented the undisclosed seller, while NAI Mertz represented the buyer in the deal.

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