Industrial

Trammell Crow, PREI Complete 504,528 SF Spec Industrial Facility in Metro Portland

by Nellie Day March 8, 2018

GRESHAM, ORE. — A joint venture between Trammell Crow Co. and Principal Real Estate Investors (PREI) has completed Glisan Corporate Park, a 504,528-square-foot spec industrial facility in Gresham. The project sits on a 28.5-acre site at 23440 to 23800 N.E. Glisan St., roughly 16 miles east of downtown Portland. The three buildings are available for sale or lease. They range from 139,727 square feet to 200,701 square feet and feature 30- to 32-foot clear heights, ample auto parking and trailer storage. Cara Nolan and Stuart Skaug of CBRE Portland are the exclusive listing agents for the facility.

March 8, 2018

Industrial Texas

CARDONE Industries Underway on $50M Distribution Center in Harlingen

by Taylor Williams March 8, 2018

HARLINGEN, TEXAS — CARDONE Industries, a Philadelphia-based remanufacturer of car parts, is underway on a $50 million distribution center within Harlingen Industrial Park in the Rio Grande Valley. The facility will span 920,000 square feet upon completion, which is slated for December. The project became the largest industrial development to ever break ground in Harlingen when construction began in December 2017. Operations at the facility are expected to begin over the summer.

March 8, 2018

Illinois Industrial Midwest

Goodman Manufacturing Signs 21,000 SF Industrial Lease in Chicago

by Kristin Harlow March 8, 2018

CHICAGO — Goodman Manufacturing, a member of Daikin Industries Ltd., has signed a 21,000-square-foot industrial lease at 4150 N. Knox Ave. on Chicago’s North Side. The residential and commercial HVAC company will utilize the space as a showroom, training center and distribution hub. Dayton Street Partners owns the 41,000-square-foot property, which features a clear height of 30 feet, six docks, four drive-in doors and T8 lighting. Mike Senner and Steve Kohn of Colliers International in Chicago represented Dayton Street in the lease transaction.

March 8, 2018

Data Centers Georgia Southeast Top Stories

Facebook to Invest $750M in 970,000 SF Data Center Campus in Georgia

by Kristin Harlow March 8, 2018

ATLANTA — Georgia Gov. Nathan Deal announced yesterday that social media giant Facebook Inc. (NASDAQ: FB) will invest $750 million and create at least 100 full-time jobs with its new data center in Stanton Springs, a 1,620-acre industrial park located roughly 30 miles east of Atlanta in Newton County. The Newton Data Center will include two buildings totaling 970,000 square feet and will help Menlo Park, Calif.-based Facebook provide apps and services to more than 2 billion people around the world. The new facility will be Facebook’s ninth data center in the United States. New jobs will include positions in engineering and management, as well as opportunities for data center technicians. The Newton Data Center will be fully powered by clean and renewable energy, and cooled using outdoor air instead of air conditioners. The facility will also house Facebook’s specialized hardware that powers its apps and other services. The buildings are expected to be fully operational in 2020. EJane Caraway, director of life sciences and corporate solutions for the Georgia Department of Economic Development, represented the state’s Global Commerce Division in partnership with the Joint Development Authority of Jasper, Morgan, Newton and Walton counties, Walton EMC, the Metro Atlanta Chamber, Georgia …

March 8, 2018

California Industrial Loans Western

Bellwether Enterprise Closes $15.5M Refinancing for Two Industrial Buildings in Metro Los Angeles

by Nellie Day March 7, 2018

REDONDO BEACH AND HAWTHORNE, CALIF. — Bellwether Enterprise has closed $15.5 million in refinance loans for two industrial properties in metro Los Angeles. The refinancing included a 10-year, $10.3 million loan for the Northrop Grumman industrial building in Redondo Beach and an 11-year, $5.2 million loan for the Van Ness Commerce Center in Hawthorne. Shelley Magoffin and Max Sauerman of Bellwether Enterprise arranged the loans, which both featured fixed interest rates in the upper 3 percent range and life insurance company lenders. The 112,000 square-foot Northrop Grumman industrial building is occupied by a single tenant that has more than five years remaining on its lease. Van Ness Commerce Center features 63,000 square feet of warehouse space with a 24-foot minimum clear height. The building was 100 percent leased to two tenants when the financing was arranged, and both tenants had near-term rollover risk.

March 7, 2018

Industrial New York Northeast

Triangle Equities Acquires Site for Industrial, Air Cargo Facility Near New York’s JFK Airport

by David Cohen March 7, 2018

NEW YORK CITY — Triangle Equities has acquired a development site, located at 130-120 S. Conduit Ave. in South Ozone Park near John F. Kennedy International Airport in Queens, for $25.4 million. The developer plans to construct a multi-level, multi-tenant air cargo and distribution facility at the site. The 300,000-square-foot building will feature first- and second-floor loading docks and clear heights ranging from 23 feet to 26 feet. The project team includes March Associates, Craft Architects and GF55 Partners. Construction is slated to break ground in winter 2019 with tenant occupancy expected in summer 2020. Additionally, HFF has secured $32.1 million in land acquisition and pre-development financing for the project. Andrew Scandalios, Rob Hinckley, Rob Rizzi and Tyler Peck of HFF arranged an initial $10.1 million in the form of joint venture capital with L&B Realty Advisors for the borrower, Triangle Equities. Additionally, L&B has committed to the vertical capitalization of the project. Geoff Goldstein, also of HFF, placed a $19 million floating-rate loan with Citizens Bank for the development. Loan proceeds will be used for land acquisition and pre-development costs. The remainder of the capitalization came from Triangle Equities.

March 7, 2018

Industrial New Jersey Northeast

NAI Hanson Negotiates Sale of Industrial Building in Hackensack, New Jersey

by David Cohen March 7, 2018

HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a freestanding industrial/flex building and 0.28 acres of land located at 62 Voorhis Lane in Hackensack. T&M Realty Associates acquired the 2,800-square-foot building and land from Voorhis Associates for an undisclosed price. The buyer plans to utilize the property to relocate its Greenland Landscaping business from Wayne, N.J. The property features 1,600 square feet of warehouse space and 1,200 square feet of office space. Anthony Cassano of NAI Hanson represented the seller and buyer in the deal.

March 7, 2018

Industrial Texas

JLL Negotiates Sale of 289,000 SF Manufacturing Plant in South Dallas

by Taylor Williams March 7, 2018

DALLAS — JLL has negotiated the sale of a 289,000-square-foot manufacturing plant located at 4949 Joseph Hardin Drive in south Dallas. The sale includes 24 acres contiguous to the facility. The property is rail-served and offers convenient access to Interstates 20, 30 and 35. Dustin Volz, Zane Marcell and Grant Matthews of JLL represented the seller, Linron Properties, in the transaction. Polk Street Industrial acquired the asset for an undisclosed price.

March 7, 2018

Illinois Industrial Midwest

CT Begins Development of $125M Logistics Park in Suburban Chicago

by Kristin Harlow March 7, 2018

ROMEOVILLE, ILL. — CT has begun development of Interchange 55 Logistics Park in the Chicago suburb of Romeoville. The $125 million, 1.3 million-square-foot logistics park is slated for completion by the end of this year. The project will consist of two distribution facilities, each with clear heights of 32 feet, 560-foot building depths and 185-foot truck courts. Building A will feature 657,000 square feet with 60 dock doors, 157 trailer parking spaces and 241 car parking spaces. Building B will feature 684,000 square feet with 68 dock doors, 175 trailer parking spaces and 465 car parking spaces. The design will allow for future expansion of parking and dock doors. Adam Roth, Dan Leahy and Packy Doyle of NAI Hiffman represented CT in the acquisition of the 112-acre land site.

March 7, 2018

Industrial Midwest Wisconsin

CBRE Arranges $50.3M Sale of Distribution Center in Chippewa Falls, Wisconsin

by Kristin Harlow March 7, 2018

CHIPPEWA FALLS, WIS. — CBRE Capital Markets has arranged the $50.3 million sale of the Mills Fleet Farm distribution center in Chippewa Falls, which is located in western Wisconsin. The Class A build-to-suit property spans 1.1 million square feet. Judd Welliver, Ryan Watts, Guy Ponticiello, Tom Holtz and Sonja Dusil of CBRE represented the seller, Ryan Cos. US Inc., which developed, designed and constructed the building. An affiliate of iStar Inc. purchased the asset.

March 7, 2018

Newer Posts

Older Posts