KANSAS CITY, MO. — Lanter Distributing LLC has signed a 126,000-square-foot industrial lease to consolidate its regional operations into a single warehouse at SubTropolis in Kansas City. The provider of freight consolidation, pool distribution and less-than-truckload deliveries for food, pharmaceutical and health and beauty manufacturers initially leased 21,000 square feet at the underground business complex in 2012. Eight 3PL companies have located in SubTropolis to date, including Advanced Logistics Fulfillment, American Central Transport, FW Warehousing, Ground Freight Expeditors, Hallmark Cards, Paris Brothers and Rossi Motor Freight. Hunt Midwest owns the 6 million-square-foot property.
Louisville has a lot going for it when it comes to logistics. In addition to its prime location on the Ohio River, the city benefits from three major interstates running through it: Interstates 64, 65 and 71. I-65 is considered a Tier 1 Corridor due to the high volume of trucks that travel over this route, connecting Chicago and Indianapolis through Louisville to the Southern states. Louisville’s location also allows companies to reach 60 percent of the country’s population within a 12-hour drive. Perhaps most importantly, Louisville is home to UPS Worldport, the largest automated package handling facility in the world, and the center point of UPS’s worldwide air network. More than 300 flights arrive and depart daily, and the hub processes roughly two million packages a day and more than 4 million during peak holiday shipping season. E-commerce lives here and UPS offers customers the ability to drop shipments at Worldport much later in the day, compared to other cities, while still providing next morning/day delivery. Louisville is not only a great logistics hub, it has a strong manufacturing base. Louisville is home to GE Appliance Park and two Ford Plants: Louisville Assembly Plant and Kentucky Truck Plant. Louisville …
COLUMBUS, OHIO — PCCP and The Pizzuti Cos. have formed a joint venture to develop Rickenbacker West I in Columbus. The 802,390-square-foot speculative industrial building will feature 36-foot clear heights. Project construction has begun and completion is slated for summer 2018. The property will be situated on 50 acres within the Creekside Industrial Center in the Rickenbacker Global Logistics Park. The Rickenbacker International Airport is located just south of the property.
JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth project four years ago, Alcon has expanded the size of its manufacturing facility by 70,000 square feet. The multi-year project will expand the company’s production capacity for DAILIES TOTAL1 contact lenses.
ST. LOUIS — Fairlane Industry Inc. has signed a 91,000-square-foot industrial lease renewal in St. Louis. The property is located at 5033 Southwest Ave. The gasket manufacturer plans to consolidate its other two St. Louis locations into the Southwest Avenue property. H. Meade Summers III of Hilliker Corp. represented the landlord, Van Velzer LLC, in the lease transaction. Ray Ragland, owner of Fairlane Industry, leased the property.
DENTON, TEXAS — Mohr Capital has sold ESAB North American Center, a 422,819-square-foot industrial building located on 30.1 acres at 2800 Airport Road in Denton. Built in two phases in 1970 and 2016, the property is fully leased to ESAB, an equipment and filler metal manufacturer. The asset is situated near the intersection of Interstates 35 East and 35 West in the Northwest Dallas industrial submarket. It features 18- and 36-foot clear heights, 19 dock-high doors, one drive-in door and 200-foot truck courts. New Mountain Net Lease Corp. purchased ESAB North American Center from Mohr Capital for an undisclosed price. Adam Herrin, Stephen Bailey, Mark West and Coler Yoakam of HFF represented Mohr Capital in the transaction. Brandon Chavoya and Michael George of HFF arranged a five-year, fixed-rate acquisition loan through KeyBank Real Estate Capital on behalf of New Mountain Net Lease.
RICHARDSON, TEXAS — NAI Robert Lynn has brokered the sale of an 82,960-square-foot industrial facility located at 1301 Apollo Road in Richardson. Baker Drywall Investments LLC, an affiliate of Mesquite, Texas-based BakerTriangle, purchased the property for an undisclosed price. BakerTriangle is a drywall and plaster specialty contractor with more than 1,300 employees across six offices in Texas. Michael Stanzel of NAI Robert Lynn represented the seller, The Trident Co., and Craig Phelps of JLL represented the buyer. Trident, a metal services company based in Richardson, sold the excess building but maintains a location nearby at 405 N. Plano Road, according to NAI Robert Lynn.
MONROE TOWNSHIP, WOODRIDGE, CARTERET AND CRANBURY TOWNSHIP, N.J. — Bridge Development Partners has agreed to sell a 10-building industrial portfolio totaling 3.4 million square feet, along with two land parcels, to Duke Realty for $515 million. Each of the assets are newly constructed facilities in the infill industrial markets in Northern New Jersey, Southern California and South Florida. The transaction will be completed in phases, with the first two phases having closed Sept. 27 and Oct. 25, and the final phase expected to close near the end of the year. In addition to the 10 completed properties, the acquisition includes two land parcels on which two properties totaling 852,745 square feet will be constructed, beginning this year. Once fully constructed the total cost of the portfolio will be nearly $700 million and span 4.3 million square feet. The first two phases include four properties in New Jersey: Bridge Point South Brunswick, a 488,884-square-foot facility at 773 Davidson Mill Road in Monroe Township; Bridge Point Meadowlands, an under construction 193,805-square-foot facility at 5 Ethel Blvd. in Woodbridge; Bridge Point Carteret, a 206,500-square-foot property at 900 Federal Blvd. in Carteret; and Bridge Point Cranbury, a 264,085-square-foot building in Cranbury.
YORK, PA. — STAG York, a wholly owned subsidiary of STAG Industrial, has acquired an industrial facility located at 2925 E. Market St. in York. Alliance Partners HSP sold the property for $19 million. Stauffers Biscuit Co. occupies 255,000 square feet of the 390,000-square-foot facility. The buyer has engaged Cushman & Wakefield to market the remaining 135,000 square feet of the property, which is suited for warehousing and distribution. Prior to selling, Alliance completed capital improvements at the property including a new roof, upgraded loading docks and enhanced truck circulation. Gerard Blinebury, Joseph Hill Jr., Pat McBride and Robert Yoshimura of Cushman & Wakefield represented the seller in the deal.
MISSOURI CITY, TEXAS — Electronics retailer Best Buy will occupy a new 550,000-square-foot distribution center on a 36.4-acre tract along U.S. Highway 90A in Missouri City, a southwestern suburb of Houston. Seefried Industrial Properties and 4M Investments LLC will co-develop the property, which is scheduled to open prior to the 2018 holiday season, according to realtynewsreport.com. Best Buy currently operates about 130 stores throughout Texas, including 13 in Houston proper.