Industrial

CBRE Arranges Lease for New Brewery Pontoon in Metro Atlanta

by John Nelson April 19, 2017

SANDY SPRINGS, GA. — CBRE has arranged an 11,000-square-foot lease for Pontoon, a new brewery coming to Northridge Business Center in Sandy Springs, a northern suburb of Atlanta. The brewery will be located across the street from a Coca-Cola bottling plant on Dunwoody Place, situated directly between Ga. 400 and Roswell Road. Set to open in September, the first location for Pontoon will feature a large taproom and dockside décor, as well as tours, tastings, growler and crowler sales, events, live music and tailgates. Wesley Budd and Chris Irby of CBRE represented Pontoon in the lease transaction.

April 19, 2017

California Industrial Western

Best Buy Leases Industrial Space at the Brickyard South Bay in Compton

by Nellie Day April 18, 2017

LOS ANGELES — Best Buy has signed a 10-year lease for 479,310 square feet of industrial space at the Brickyard South Bay in the Los Angeles submarket of Compton. The site is just south of downtown Los Angeles, east of Los Angeles International Airport and north of the nation’s two biggest ports. The project’s two Class A buildings are located at 1701 N. Central Ave. and 1430 N. McKinley Ave. UPS signed a 10-year lease for 521,816 square feet at the site this past September. The project is now fully leased. Brickyard South Bay is a 58-acre site that was formerly home to a brick manufacturing facility. A joint venture between Clarion Partners and Trammell Crow Company is converting the site into a state-of-the-art industrial facility. CBRE Group’s Bret Quinlan and John Schumacher serve as the leasing agents.

April 18, 2017

Industrial Midwest Missouri

Brennan Investment Group Acquires 559,367 SF Industrial Portfolio in Kansas City, Missouri

by Kristin Harlow April 18, 2017

KANSAS CITY, MO. — Brennan Investment Group LLC has acquired a nine-building industrial portfolio in Kansas City. The portfolio spans 559,367 square feet within the Jackson County submarket. Neither the sales price nor the seller were disclosed. “Our new investment in Kansas City exhibits the key elements of our value-add investment criteria: an infill location, with modern functional attributes priced below replacement cost,” says Scott McKibben, chief investment officer and managing principal of Brennan Investment Group.

April 18, 2017

Georgia Industrial Southeast

Port Logistics Realty Breaks Ground on 2.6 MSF Industrial Park in Metro Atlanta

by John Nelson April 18, 2017

PALMETTO, GA. — Port Logistics Realty (PLR) has broken ground on Phase I of Palmetto Logistics Park, a two-phase, 2.6 million-square-foot industrial park in Palmetto, roughly 12 miles southwest of Hartsfield-Jackson Atlanta International Airport. The development, which is PLR’s first project in the Atlanta market, is situated near the CSX/BNSF Intermodal facility and Interstate 85. Slated for completion in the fourth quarter of this year, Phase I will include a 1.1 million-square-foot industrial facility, expandable to 1.3 million square feet, as well as park infrastructure. Phase II will include a 1.3 million-square-foot facility. PLR is developing Palmetto Logistics Park in partnership with Atlanta-based River Oaks Capital Partners. Colliers International will market the property for lease.

April 18, 2017

Industrial Market Reports Utah Western Western Market Reports

New Entrants and Local Developers Enjoy SLC’s Industrial Market

by Camren Skelton April 18, 2017

With nearly 3 million square feet of industrial space under construction, and climbing lease rates averaging $5.64 per square foot, it is safe to say the industrial market along Utah’s Wasatch Front is alive and well. The primary Salt Lake County market reports an overall industrial vacancy level of 5.08 percent. In the fast-growing Utah County submarket that’s just south of Salt Lake City, the vacancy rate is 3.44 percent. This is in line with the pre-recession levels experienced in the mid-2000s. The most noticeable difference in today’s environment is the scale of buildings being built on spec, as well as who is carrying out these projects. We continue to see construction starts and announcements on buildings larger than 300,000 square feet — many of which are speculative — by out-of-state development or investment groups. This includes companies like Clarion Partners, Exeter Property Group and Seefried Industrial Properties. This represents a new resurgence of interest by many of the “brand name,” major-market players who want to be part of the dynamic growth occurring in Utah. This is a growing trend nationally as well, which is interesting to see in the relatively smaller, 170-million-square-foot Wasatch Front market.Activity from the local players …

April 18, 2017

California Industrial Western

E&E Trust Acquires 3.8 Acres for Spec Industrial Project in Oxnard

by Nellie Day April 17, 2017

OXNARD, CALIF. — E&E Trust has purchased a 3.8-acre parcel of land within the McInnes Ranch Business Park in Oxnard for an undisclosed sum. The land is located at 500 N. Elevar St. The parcel will soon house a 52,500-square-foot speculative warehouse distribution building. Mitch Conlee of Daum Commercial represented the buyer and seller, a local developer, in this transaction.

April 17, 2017

Industrial Utah Western

Capital Freight Management Leases Industrial Building in Salt Lake City

by Nellie Day April 17, 2017

SALT LAKE CITY — Capital Freight Management has leased an 88,000-square-foot industrial building in the Pioneer Business Center in Salt Lake City. The building is located at 1855 S. Fremont Drive and is situated on 5.6 acres. Capital Freight Management buys local hay and barley, which it ships to China and other Asian countries. Eli Priest of Newmark Grubb Acres represented the renter. The firm’s Jeff Heaton and Lucas Burbank represented the landlord, Colony Industrial, in this transaction.

April 17, 2017

Industrial New Jersey Northeast

Sitex Acquires Two Industrial Properties in Totowa, N.J.

by Haisten Willis April 17, 2017

TOTOWA, N.J. — Sitex Group has acquired two warehouse/distribution centers located at 8 Vreeland Ave. and 50 Furler St. in Totowa from an unnamed private seller. The purchase price was not disclosed. Sitex plans to make 8 Vreeland available for occupancy next year. The property features 24- to 28-foot clear heights and a partially air-conditioned warehouse. The 125,000-square-foot property also includes 12,000 square feet of office space and 10 loading docks. Currently leased to Custom Index Inc., Sitex plans to renovate the property when the tenant leaves next year. At 55,000 square feet, 50 Furler St. features 16-foot clear heights, three loading docks and 3,000 square feet of office pace. It is leased to SK Custom Creations. Both properties are located near I-80 and Route 46. JLL’s Howard Weinberg arranged the transaction. Sitex has retained him to market 8 Vreeland Ave. for lease.

April 17, 2017

Connecticut Industrial Northeast

Angel Commercial Arranges $1M Acquisition of Industrial Property in Connecticut

by Haisten Willis April 17, 2017

FAIRFIELD, CONN. — Jon Angel of Angel Commercial has arranged the $1 million acquisition of 107 Ardmore St. in Fairfield. The property consists of an 8,196-square-foot industrial building on .63 acres. Angel represented the buyer, Ardmore LLC, which acquired the property as an investment.

April 17, 2017

Industrial Texas

Stream Realty Negotiates 37,896 SF Industrial Lease in Arlington

by Taylor Williams April 17, 2017

ARLINGTON, TEXAS — Stream Realty Partners has negotiated a 37,896-square-foot lease on behalf of Restaurant Services Inc., a supply chain management firm, at 700 106th St., a 43,329-square-foot industrial property in Arlington. Eric Crutchfield, Ryan Boozer and Sarah Ozanne of Stream Realty represented the landlord, Checkerprop Texas 700 106th Street LLC, in the transaction. Ozanne and Luke Davis, also with Stream Realty, represented the tenant.

April 17, 2017

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