Industrial

Cornwell-Technology-Center-Scottsdale-AZ

KPN Industrial Acquires 56,634 SF Industrial Center in Arizona for $9.9M

by Amy Works July 9, 2018

SCOTTSDALE, ARIZ. — KPN Industrial had purchased Cornwell Technology Center, located at 17301 N. Perimeter Drive in Scottsdale. Andersen Equities sold the property for $9.9 million, or nearly $175 per square foot. Situated on 4.7 acres, the 56,634-square-foot asset consists of two freestanding multi-tenant R&D industrial buildings. Built in 2000, the fully occupied asset is 100 percent air conditioned and offers high-quality space for tenants with complex and precise processes requiring clean rooms and labs. Current tenants include Hemisphere GNSS, Provista Diagnostics and Plastic Design Co. Andersen Equities arranged its own acquisition financing for the transaction. Mark Linsalata, Patrick Dempsey and Jan Fincham of Lee & Associates Arizona represented the seller, while Ron Schooler and Ken Elmer of Commercial Properties represented the buyer in the deal.

July 9, 2018

Washington-Dulles-Gateway-Loudoun-County-Virginia

Acquisitions Data Centers Industrial Southeast Top Stories Virginia

Sentinel Acquires 280 Acres for Data Center Development in Northern Virginia for $82.5M

by Taylor Williams July 9, 2018

LOUDOUN COUNTY, VA. — New York-based Sentinel Data Centers has acquired Washington Dulles Gateway, a 280-acre tract in northern Virginia, for $82.5 million. The site features 140 acres of net developable land for a new data center project, which equates to a purchase price of about $589,000 per developable acre. The site is one of the largest contiguous tracts for data center development in in Loudoun County, located northwest of Washington, D.C. “Seventy percent of the world’s internet activity runs through Loudoun County,” says Jay Taustin, a representative for the seller. “We are extremely pleased to have sold this important land parcel to Sentinel Data Centers, which provides world-class facility infrastructure, engineering acumen, technical personnel and operations protocols to its users.” Mark Levy, Matthew Gallagher and Jonathan Walk of JLL represented the seller, which according to datacenterdynamics.com was developer and majority owner H. Christopher Antigone, in the sale. “Significant demand continues to exist for data center product in Loudoun County,” says Levy. “When we began the conversation with Sentinel, it was clear it had the market knowledge and sophistication necessary to execute a complex transaction such as this.” Sentinel also acquired 65 acres in Loudoun County for the same purpose …

July 9, 2018

Georgia Industrial Market Reports Property Type Southeast Southeast Market Reports

Booming Atlanta Industrial Market Continues Surge Thanks to E-Commerce

by John Nelson July 9, 2018

Atlanta is the logistics hub and economic engine of the Southeast, which is the fastest growing region in the country. Its 700 million square feet of industrial space makes it the fifth largest logistics market in the United States. Traditionally, population and job growth are key drivers of industrial demand, and Atlanta has had strong growth in each. The metro added 78,000 people in 2017, or nearly 214 new residents every day, which is reminiscent of the solid population growth of the 1990s when Atlanta averaged nearly 100,000 new residents every year. Additionally, Atlanta has had solid job growth, growing 2.5 percent last year, second only to Dallas/Fort Worth among the 12 largest metro areas in the U.S. E-commerce has caused a surge in demand for industrial space that has benefitted the Atlanta industrial market. Online retail sales now make up over 9 percent of total retail sales, according to the U.S. Census Bureau, up from 5 percent in 2012. A recent report from Cushman & Wakefield stated that while e-commerce accounted for just 5 percent of leases in 2013, it now commands over 20 percent of all warehouse leasing. As Amazon and others ramp up delivery times from two-day …

July 9, 2018

Industrial Leasing Activity Texas

Roadtex Signs 27,901 SF Industrial Lease Renewal in Dallas

by Taylor Williams July 6, 2018

DALLAS — Roadtex Transportation Corp., a logistics firm specializing in transit of refrigerated goods, has signed a 27,901-square-foot industrial lease renewal at 10705 King William Drive in Dallas. Ryan Boozer of Stream Realty Partners represented Roadtex in the lease negotiations. Adam Graham and Ken Wesson of Lee & Associates represented the landlord, EastGroup Properties.

July 6, 2018

Acquisitions Industrial Texas

NAI Partners Brokers Sale of 23,000 SF Warehouse in Houston

by Taylor Williams July 6, 2018

HOUSTON — NAI Partners has brokered the sale of a 23,000-square-foot warehouse located at 13735 FM 529 in Houston. The Class B, single-tenant property was built in 2014 and features 28-foot ceiling heights and two grade-level doors. John Ferruzzo, Nick Peterson and Ryan Searle of NAI Partners represented the seller, Southbelt Park Ltd., in the transaction. David Otis of Texas Shoreline Properties represented the buyer, GD Capital LLC.

July 6, 2018

Industrial Leasing Activity New York Northeast

Milvado Property Group Signs JB Prince to 21,000 SF Industrial Lease on Long Island

by David Cohen July 6, 2018

PLAINVIEW, N.Y. — Milvado Property Group has signed culinary equipment supplier JB Prince to a 21,000-square-foot industrial lease at 79 Express Street in Plainview. The length of the lease was not disclosed. 79 Express Street is a 72,000-square-foot industrial manufacturing building located 33 miles east of Manhattan. JLL represented JB Prince in the transaction. Milvado was represented in-house by Regional Property Director David Hercman.

July 6, 2018

Acquisitions Industrial Midwest Wisconsin

Barry Co. Arranges Sale of 11,800 SF Industrial Building in Franksville, Wisconsin

by Kristin Harlow July 6, 2018

FRANKSVILLE, WIS. — The Barry Company has arranged the sale of an 11,800-square-foot industrial building in Franksville, about 20 miles south of Milwaukee, for an undisclosed price. Former occupant Custom Painted Vehicles sold the property and has moved to a larger, neighboring facility. David Barry of The Barry Company represented the seller in the transaction. Gurtz Electric Co. purchased the building. The property is located near the Foxconn development area in the I-94 corridor. Foxconn, an electronics manufacturer, is expected to hire 13,000 workers for its Wisconsin facility, which is currently under construction.

July 6, 2018

Development Industrial North Carolina Self-Storage South Carolina Southeast

Go Store It Breaks Ground on Two Self-Storage Facilities in Carolinas

by Camren Skelton July 6, 2018

ASHEVILLE, N.C. AND MT. PLEASANT, S.C. — Go Store It has broken ground on two new self-storage developments in Asheville and Mt. Pleasant. The Charlotte, N.C-based company specializes in the acquisition, development and management of self-storage assets throughout the country. The project in Asheville will feature more than 600 units and will be fully climate controlled. The development is located in the Woodfin submarket, just north of the city’s downtown. Go Store It owns three existing facilities in Asheville and is underway on another along Hendersonville Road. The self-storage facility in Mt. Pleasant is Go Store It’s third facility in the city and its fifth in the greater Charleston market. Located at the corner of Gregorie Ferry Road and Highway 17 North, the three-story building will be fully climate controlled and will feature more than 400 units. Go Store It’s other Charleston locations include a recently opened facility at Long Point Road, as well as facilities under construction at Johnnie Dodds, Folly Road, Maybank Highway and downtown Charleston. A construction timeline for the new facilities was not disclosed. Go Store It plans to break ground on five more developments this year in Charlotte, Cary, Louisville, Ky., and Fredericksburg, Va.

July 6, 2018

Acquisitions Industrial Maryland Southeast

Goldstar Group Acquires Fully Leased Industrial Warehouse in Baltimore for $7.6M

by Camren Skelton July 6, 2018

BALTIMORE — The Goldstar Group has acquired an 86,236-square-foot warehouse building located at 1821 Portal St. in Baltimore for $7.6 million. Jonathan Beard and Justin Mohler of CBRE arranged the transaction on behalf of the undisclosed seller. The facility is situated adjacent to the Dundalk and SeaGirt Marine Terminals and the Intermodal Container Transfer Facility at the Port of Baltimore. The building is fully leased to two tenants — Johns Hopkins Bayview Medical Center and Bacchus Imports, an importer of fine wines and spirits.

July 6, 2018

Acquisitions Arizona Industrial Western

NAI Horizon Negotiates $1.6M Sale of Industrial Property in Chandler, Arizona

by Amy Works July 6, 2018

CHANDLER, ARIZ. — NAI Horizon has arranged the sale of an industrial property located at 2120 S. Douglas Drive in Chandler. Traditional Asset Management acquired the 11,187-square-foot property from John L. Smith for $1.6 million. Mark Wilcke of NAI Horizon represented the seller, while Chris McClurg of Lee & Associates represented the buyer in the deal.

July 6, 2018

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