Industrial

Amazon to Open 850,000 SF Fulfillment Center in Orlando’s Lake Nona Development

by Camren Skelton July 10, 2017

ORLANDO, FLA. — Amazon has unveiled plans to open an 850,000-square-foot fulfillment center at Lake Nona, Orlando’s 17-square-mile master-planned development. Slated to open in 2018, the new site will create 1,500 full-time jobs. The project is being developed in a partnership between Seefried Industrial Partners and an affiliate of USAA Real Estate Co. Tavistock Development Co., master developer of Lake Nona, sold the site and will develop the infrastructure for the project. The property will utilize automated processes supported by Amazon Robotics, a Massachusetts-based manufacturer of robotic fulfillment systems. The new fulfillment center will bring Amazon’s workforce in Florida to more than 9,000.

July 10, 2017

Industrial Oklahoma Texas

Sealy & Co. Acquires 17-Building, 1.2 MSF Industrial Park in Oklahoma City

by Taylor Williams July 10, 2017

OKLAHOMA CITY — Sealy & Co., a Louisiana-based industrial investment firm, has acquired a 17-building, 1.2 million-square-foot industrial park in Oklahoma City. The transaction comes as part of the company’s acquisition of an undisclosed, private REIT. The buildings are situated in Oklahoma City’s Southwest submarket near Will Rogers World Airport and Interstates 44 and 40.

July 10, 2017

Industrial Texas

Colliers Negotiates Sale of Two Industrial Properties Totaling 26,925 SF in Houston

by Taylor Williams July 10, 2017

HOUSTON — Colliers has negotiated the sale of two single-tenant industrial properties totaling 26,925 square feet in Houston. The properties are located at 3730 Dacoma St. and 6942 Signat Drive. Jason Tangen of Colliers represented the buyer, RAH Santa Fe LLC, in the transaction. Lee & Associates represented the seller, New Mexico-based Turnaround Properties LLC.

July 10, 2017

Georgia Industrial Market Reports Southeast Southeast Market Reports

Atlanta Industrial Market’s Record Performance Drives Investment Demand

by John Nelson July 10, 2017

The Atlanta industrial market continues to grow in popularity when it comes to real estate investors’ appetite. Industrial assets are “hot items” in current investment sales transactions as the region’s economic momentum continues to position Atlanta as one of the healthiest industrial markets in the Southeast. Some of the major local and macro-economic trends affecting the industrial market include the ongoing growth of infrastructure, logistics and manufacturing industries. Furthermore, the Port of Savannah’s new Post Panamax facilities, its ongoing investment and expansion plans and its increasing activity are also beneficial to the Atlanta industrial market. Investment sales professionals, especially individual investors, remain attracted to Atlanta’s industrial market as e-commerce continues to transform how and where products are stored and shipped, not to mention the simplicity of owning and managing industrial properties, compared to retail and office. In 2016, the Atlanta industrial market experienced over 17 million square feet of net absorption. The forecasted absorption for 2017 ranges between 12 and 14 million square feet, with approximately 12 million square feet of new product being delivered this year. Over 90 percent of the new product comprises warehouse/distribution product, and less than 10 percent consists of new flex and shallow-bay buildings. Most …

July 10, 2017

Industrial Northeast Pennsylvania

JV Sells 1.55 MSF Capital Logistics Center in Middletown, Pennsylvania

by Amy Works July 7, 2017

MIDDLETOWN, PA. — A joint venture between Woodmont Industrial Partners and AEW Capital Management, on behalf of its closed-end opportunistic real estate fund AEW Partners VI, has completed the disposition of Capital Logistics Center in Middletown for undisclosed price. The partnership completed an extensive capital improvement program at the six-building, 1.55 million-square-foot industrial park. The joint venture constructed new industrial facilities to replace the antiquated structures that previously occupied 200 and 300 Capital Lane. The name of the buyer was not released.

July 7, 2017

Industrial New Jersey Northeast

Rockefeller Group Buys 228-Acre Industrial Site in Piscataway, New Jersey, for $57M

by Amy Works July 7, 2017

PISCATAWAY, N.J. — Rockefeller Group has acquired a 228-acre industrial site located at 171 River Road in Piscataway. Lincoln Equities Group and Real Capital Solutions sold the former brownfield site for $57 million. The remediated site is fully entitled to build 2.4 million square feet of space for industrial distribution and light manufacturing space. The buyer will break ground on two new buildings later this summer with an anticipated overall project cost between $225 million and $250 million. David Bernhaut of Cushman & Wakefield represented the sellers in the transaction.

July 7, 2017

Georgia Industrial Southeast

Starbucks Unveils $120M Expansion Plan for Plant in Augusta, Georgia

by Camren Skelton July 7, 2017

AUGUSTA, GA. — Starbucks has unveiled plans to expand its soluble plant in Augusta. The $120 million expansion will add 140,000 square feet to the current 180,000-square-foot facility, nearly doubling the size of the operation. Starbucks opened the plant in July 2012. It is the first company-owned facility in the world to produce Starbucks soluble products. Located roughly 20 miles south of Fort Gordon, the plant currently employs 185 Starbucks partners, one in six of which are armed forces veterans or military spouses. The expansion will bring up to 100 new jobs to the facility. Construction on the property is slated for completion in fall 2019. On the retail front, Starbucks plans to add 12,000 stores globally by 2021, bringing the total number to 37,000.

July 7, 2017

Florida Industrial Southeast

Fifteen Group Sells Industrial Property in Downtown Miami for $37.3M

by Camren Skelton July 7, 2017

MIAMI — Fifteen Group has sold 200 South Miami Avenue, a 110,000-square-foot logistics facility in downtown Miami, for $37.3 million. The sales price was nearly double what the Miami-based investment firm paid in July 2014, when it purchased the asset for $19 million. The building is net-leased to FedEx until 2029 with a five-year renewal option, according to The Real Deal.

July 7, 2017

Industrial Texas

NAI Negotiates 227,000 SF Industrial Lease in Houston

by Taylor Williams July 7, 2017

HOUSTON — NAI Partners has negotiated a 227,000-square-foot industrial lease at 6501 Navigation Blvd. in Houston. Clay Pritchett of NAI Partners represented the landlord, Quasar Navigation Ltd., in the lease negotiations. David Cartwright of B&C Capital represented the tenant, MEI Rigging and Crating LLC, a packing and shipping firm with offices across the Southwest.

July 7, 2017

Industrial Midwest Minnesota

CBRE Negotiates $10M Sale of Industrial Building in Maple Grove, Minnesota

by Kristin Harlow July 7, 2017

MAPLE GROVE, MINN. — CBRE Capital Markets has negotiated the sale of the Bass Creek Technology Plaza in Maple Grove, about 17 miles northwest of Minneapolis, for $10 million. The 108,628-square-foot industrial building is located at 6250 Sycamore Lane North. The property is fully leased to ZEISS, a technology firm specializing in optics and optoelectronics. Constructed as a build-to-suit for ZEISS in 2001, the building features office space, manufacturing space and a warehouse. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, Interstate Partners. STAG Industrial, an investment firm headquartered in Boston, was the buyer.

July 7, 2017

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