Industrial

Meridian Breaks Ground on 124,575 SF Speculative Industrial Facility in Woodridge, Illinois

by Kristin Harlow July 20, 2018

WOODRIDGE, ILL. — Meridian Design Build has broken ground on a 124,575-square-foot speculative industrial facility in Woodridge, a southwest suburb of Chicago. The property is located at 2379 Davey Road near I-55 and I-355. Molto Properties is the developer. The building will feature a clear height of 32 feet, 18 loadable docks, four drive-in doors and 143 car parking spaces. Completion is slated for this October. Jim Estus of Colliers International is marketing the space for lease. Harris Architects is the project architect and Kimley-Horn is the civil engineer.

July 20, 2018

Acquisitions Development Industrial Texas

Majestic Acquires 46 Acres for 500,000 SF Industrial Project in Kyle, Texas

by Taylor Williams July 19, 2018

KYLE, TEXAS — Los Angeles-based Majestic Realty Co. has acquired 46 acres for the development of a 500,000-square-foot industrial project in Kyle, located along the Interstate 35 corridor between Austin and San Antonio. Branded Majestic Plum Creek Business Park, the property will deliver Class A, tilt-wall buildings that can accommodate all manner of industrial uses. Majestic will invest approximately $39.7 million in the project, which is being developed on a speculative basis. Construction is scheduled to begin during the fourth quarter. Tate Hinkelman and Marshall Davidson of Avison Young represented the seller, Plum Creek Development Partners, in the land deal. Joe Birdwell of American Southwest represented Majestic.

July 19, 2018

Industrial Leasing Activity Texas

Schlumberger Signs 226,000 SF Office Lease Renewal, Expansion in Houston

by Taylor Williams July 19, 2018

HOUSTON — Schlumberger Technology Corp., a division of international oilfield services firm Schlumberger Ltd., (NYSE: SLB) has renewed and expanded its office lease in Houston. The company now occupies 226,000 square feet at 1430 Enclave Parkway in the Energy Corridor area on Houston’s west side. Owned by Atlanta-based Piedmont Office Realty Trust (NYSE: PDM), the Class A property totals 312,564 square feet. The size of Schlumberger’s original footprint was not disclosed, but the new lease carries a 10-year term and the company now occupies roughly 72 percent of the total leasable space.

July 19, 2018

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale-Leaseback of 69,750 SF Industrial Asset in Metro Dallas

by Taylor Williams July 19, 2018

HUTCHINS, TEXAS — Marcus & Millichap has arranged the sale-leaseback of a 69,750-square-foot industrial asset in Hutchins, a southern suburb of Dallas. Adam Abushagur of Marcus & Millichap represented the seller/tenant, Bocks Board Packaging, which occupies the entirety of the space. Abushagur also procured the buyer, an undisclosed limited liability company. The property drew six offers within its first week on the market.

July 19, 2018

Acquisitions Industrial Texas

NAI Partners Brokers Sale of 30,000 SF Industrial Property, 20 Acres in Marion, Texas

by Taylor Williams July 19, 2018

MARION, TEXAS — NAI Partners has brokered the sale of a 30,000-square-foot industrial property located at 11820 W. Interstate 10 in Marion, about 30 miles northeast of San Antonio. The sale includes an additional 20 acres. Joshua Swank and Brett Lum of NAI Partners represented the seller, His Majesty Saint Adams, a San Antonio-based investment firm, in the transaction. The buyer was not disclosed.

July 19, 2018

Acquisitions Industrial Northeast Pennsylvania

Hinerfeld Sells Two Industrial Facilities in Pennsylvania for Combined $1.9M

by David Cohen July 19, 2018

LUZERNE COUNTY, PA. — Hinerfeld Commercial Real Estate has sold two transportation-related industrial properties in Luzerne County for a combined $1.9 million. The first property is located at 137 Armstrong Road in the O’Hara Industrial Park in Pittston Township. NFI acquired the 10,700-square-foot property for $1.05 million. The second property, located at 90 Eugene Drive, features 31 cross-dock terminals as well as shops and offices. Saia Motor Freight Line LLC acquired the property for $850,000.

July 19, 2018

Industrial Loans Massachusetts Northeast

Fantini & Gorga Arranges $2.8M in Financing for Flex Building Near Worcester

by David Cohen July 19, 2018

SHREWSBURY, MASS. — Fantini & Gorga has arranged $2.8 million in first mortgage financing for a 36,660-square-foot flex building located at 910 Boston Turnpike in Shrewsbury. The property is approximately six miles east of Worcester. Derek Coulombe and Lindsay Feig of Fantini & Gorga arranged the 15-year, fixed-rate financing on behalf of the undisclosed borrower through a life insurance company. The property was built in 1985 and is broken up into eight rental units with nine total loading docks. It is currently fully leased to five tenants, which include Jenny B Companies, United Medical Systems and Up, Up and Play Day Care.

July 19, 2018

Development Illinois Industrial Midwest

Crow Holdings Industrial Breaks Ground on First Midwest Project in Channahon, Illinois

by Kristin Harlow July 19, 2018

CHANNAHON, ILL. — Crow Holdings Industrial (CHI) has broken ground on a development in Chicago’s I-80 corridor, its first project in the Midwest. The 252,208-square-foot speculative industrial building will be located at 24601 S. Frontage Road in the Channahon Corporate Center. The building will feature a clear height of 36 feet, LED lighting, truck dock loading and trailer parking. ARCO/Murray is the general contractor.

July 19, 2018

Echelon-Business-Park-City-of-Industry-CA

Acquisitions California Industrial Western

DAUM Commercial Brokers Sales of Seven Industrial Properties in Southern California for $50M

by Amy Works July 19, 2018

CITY OF INDUSTRY, CALIF. — DAUM Commercial Real Estate Services has brokered the individual sales of seven buildings that comprise Echelon Business Park, a newly constructed industrial campus in City of Industry. Los Angeles-based Dedeaux Properties sold the assets for a total of $50 million. Located at 801-821 Echelon Court, the freestanding buildings range in size from 27,438 square feet to 43,166 square feet. The properties feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling and two-story office space. Dennis Sandoval, Robert Dipre, Bryan Sandoval and Kurt Yacko of DAUM represented the seller in the transactions. The names of the buyers were not released.

July 19, 2018

Development Georgia Industrial Southeast

Five Below to Open $70M Distribution Center in Georgia’s Monroe County

by Camren Skelton July 19, 2018

FORSYTH, GA. — Discount retailer Five Below will invest $70 million to build a new distribution center in Monroe County, roughly 60 miles southeast of Atlanta. According to local media reports, the facility will be located within Meridian 75 Logistics Center, a 186-acre master-planned business park in Forsyth. The new building will create 130 new jobs. The initial investment includes $42 million in land and building, and approximately $28 million in machinery and equipment. Additional investment will occur over the next five years. Founded in 2002, Philadelphia-based Five Below sells products that cost $5 or less. The chain operates more than 650 stores across 32 states, and plans to open 125 new stores this year. A construction timeline for the Monroe County facility was not disclosed.

July 19, 2018

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