Industrial

Opus to Construct 86,000 SF Speculative Industrial Building in St. Paul

by Kristin Harlow June 22, 2018

ST. PAUL, MINN. — The Opus Group has unveiled plans to construct an 86,000-square-foot speculative industrial building at the St. Paul Port Authority’s Beacon Bluff Business Center in St. Paul. Completion is slated for the end of this year. The building will feature a clear height of 24 feet. Opus Development Co. is the developer, Opus Design Build is the design-builder and Opus AE Group is the architect and structural engineer of record. Solutions Blue is the civil engineer. Todd Hanson and Jason Sell of Cushman & Wakefield will market the property for lease. Beacon Bluff Business Center will include both office and industrial space and is located near the Minneapolis-St. Paul International Airport.

June 22, 2018

Development Florida Industrial Southeast

Bridge Purchases 10.2-Acre Site in Fort Lauderdale, Planning 174,129 SF Industrial Project

by Camren Skelton June 22, 2018

FORT LAUDERDALE, FLA. — Bridge Development Partners has acquired a 10.2-acre site located at 1300 S.W. 32nd Court in Fort Lauderdale. The developer plans to build a 174,129-square-foot industrial park at the site dubbed Bridge Point FLL Logistics Center. The two-building development will be located less than five miles from the Fort Lauderdale-Hollywood International Airport (FLL). The site formerly housed a school that closed more than 20 years ago. Building 1 at the development will span 92,165 square feet, while Building 2 will total 81,964 square feet. The shallow-bay buildings will feature 32-foot clear heights, rear-dock loading and ESFR sprinkler systems. Bridge expects to wrap up construction on the project in the second quarter of 2019.

June 22, 2018

Industrial Market Reports Texas Texas Market Reports

Fort Worth Industrial Market Gaining Ground on Big Brother Dallas

by Taylor Williams June 22, 2018

Any commuter who takes Interstate 35 on a regular basis can tell that the Fort Worth industrial market is continuously growing. But the question is, how much longer will the growth last? Numerous signs point to the metro’s industrial market having considerably more runway for new development, as well as key factors in place to maintain strong positive absorption of existing industrial space. These factors include continuous and regular population growth, a low cost of living, strong labor force and an exceptional availability of developable land. Historically, Fort Worth’s industrial growth has always lagged that of Dallas. But times are changing. Just four years ago, there were very few national developers taking space and setting up operations in Fort Worth, but now major firms can’t seem to get here fast enough. To be sure, the state’s soft regulatory environment and tax-friendly structure have always helped lure businesses to Fort Worth as much as they have to Dallas, which usually gets the big-name relocations. But the speed at which Fort Worth is catching up to its big brother is real, and the industrial market may embody it better than any other sector. One construction-based statistic captures this trend above others: There …

June 22, 2018

Acquisitions Industrial Northeast

CBRE Negotiates $18M Sale of Industrial Facility in New Jersey

by David Cohen June 21, 2018

KEASBEY, N.J. — CBRE has negotiated the $18 million sale of a 133,032-square-foot industrial facility in Keasbey. The building is located at 100 Crows Mill Rd. William Waxman, Mindy Lissner, Steven I. Beyda and Robert Pine of CBRE represented the seller, TA Realty, in the transaction. Dorothy Chuang of CBRE represented the buyer, California-based Seville Gateway Investments. Built in 1971, the property is located at the crossroads of the New Jersey Turnpike and the Garden State Parkway. The facility was recently renovated and offers on-site trailer parking and LED lighting.

June 21, 2018

Development Industrial Texas

Water Purification Company to Open $31M Manufacturing Facility in Conroe on June 29

by Taylor Williams June 21, 2018

CONROE, TEXAS — Memstar USA, a provider of equipment used in water purification and desalinization plants, will open a $31 million manufacturing facility in Conroe, about 40 miles north of Houston, on June 29. The facility will span 40,500 square feet and will be located within Conroe North Park. Memstar expects to hire about 35 people initially and eventually expand its payroll at the plant to include 80 people.

June 21, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 88,200 SF Industrial Lease in Grapevine, Texas

by Taylor Williams June 21, 2018

GRAPEVINE, TEXAS — Lee & Associates has negotiated an 88,200-square-foot industrial lease at 2520 Esters Blvd. in Grapevine, located near Dallas-Fort Worth (DFW) International Airport. Ken Wesson of Lee & Associates represented the tenant, engineering and logistics firm Communications Test Design Inc., in the lease negotiations. Nathan Lawrence of CBRE represented the landlord, Valeo North America.

June 21, 2018

Acquisitions Industrial North Carolina Southeast

HFF Brokers $32.2M Sale of Five-Building Industrial Campus Near Airport in Greensboro, North Carolina

by Camren Skelton June 21, 2018

GREENSBORO, N.C. — HFF has brokered the $32.2 million sale of Airport Distribution Center, a five-building industrial campus located roughly seven miles from Piedmont Triad International Airport. Situated on 41 acres at 202, 204, 206, 311-F and 311-G N. Chimney Rock Road in Greensboro, the center is minutes from the FedEx Mid-Atlantic Hub, the carrier’s fifth largest U.S. hub. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, a joint venture between Somerset Properties and Thackeray Partners. The name of the buyer was not disclosed. Airport Distribution Center features front-load facilities, clear heights ranging from 24 to 35 feet and rail access to 316,532 square feet of space within buildings 311F and 311G.

June 21, 2018

Acquisitions Industrial Nevada Western

Panattoni Development Sells Two Industrial Buildings in Reno for $81.1M

by Amy Works June 21, 2018

RENO, NEV. — Panattoni Development Co. has completed the disposition of buildings A1 and B of the North Valleys Commerce Center (NVCC) in Reno. PRISM-IQ Nevada LLC and GOF Nevada LLC purchased the properties for $81.1 million. Panattoni made the sale through CP Logistics NVCC and CP Logistics NVCC Building A-1, two joint ventures between Panattoni and a public retirement fund. Building A1, totaling 352,957 square feet, and Building B, totaling 707,660 square feet, are located on 56 acres at 9460 N. Virginia St. in Reno. Trademark Global, Exxel Outdoors, Microflex Corp. and SupplyHouse.com are tenants at the properties. Completed in 2018, the buildings are cross-docked distribution facilities with a 36-foot clear height and low-cost LED lighting. JLL and Kidder Mathews represented the sellers in the deal.

June 21, 2018

Acquisitions California Industrial Western

Avison Young Brokers $16.8M Acquisition of Industrial Building in Temecula, California

by Amy Works June 21, 2018

TEMECULA, CALIF. — Avison Young has arranged the acquisition of MCA Business Center, a newly constructed industrial building located on Dendy Parkway in Temecula. An undisclosed buyer purchased the property from MCA Realty for $16.8 million. The buyer plans to occupy the entire 143,689-square-foot facility. Completed in 2018, MCA Business Center features 32-foot clear-height ceilings, 120-foot truck courts, 26 dock-high loading doors, three grade-level doors, 255 skylights and unobstructed views of the Temecula Valley. The property is located within Westside Business Center, a 385-acre master-planned business park that is 95 percent built out. Stan Nowak and Cody Lerner of Avison Young represented the buyer, while Lee & Associates, along with CBRE, represented the seller in the deal.

June 21, 2018

Acquisitions Illinois Industrial Midwest Self-Storage

U-Haul to Acquire, Repurpose Former Kmart Building in Alton, Illinois

by Kristin Harlow June 21, 2018

ALTON, ILL. — U-Haul plans to acquire an 84,180-square-foot building formerly occupied by Kmart in Alton, about 25 miles north of St. Louis, in August. U-Haul, which currently leases the property, will transform the space into 700 climate-controlled, self-storage units with truck and trailer sharing and towing equipment onsite. The building, which had previously been vacant for eight months, is located within the Seminary Plaza shopping center. Madison Plaza Associates was the seller. U-Haul’s acquisition of the property was driven by its corporate sustainability initiative. The company says the adaptive reuse of existing buildings reduces the amount of energy and resources required for new-building materials and helps cities reduce their unwanted inventory of unused buildings.

June 21, 2018

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