Industrial

Continental Bindery Purchases New Headquarters in Elk Grove Village, Illinois

by Kristin Harlow September 19, 2017

ELK GROVE VILLAGE, ILL. — Continental Bindery Corp. has purchased a new headquarters facility in Elk Grove Village for an undisclosed price. The binding firm sold its current headquarters, located at 700 Fargo Ave., and purchased a 29,856-square-foot industrial facility at 1250 Pratt Blvd. Brian Carroll and Tom Gath of Newmark Knight Frank (NKF) represented Continental Bindery in both transactions. Adam Marshall of NKF represented the Pratt Boulevard property seller, which was an affiliate of Midwest Industrial Funds. The Village of Elk Grove, represented by Chris Nelson of Lee & Associates, purchased Continental Bindery’s previous 51,412-square-foot headquarters. The city will demolish the property and construct a new fire station and training center in its place. Continental Bindery will begin occupying the new headquarters this fall.

September 19, 2017

Industrial Texas

Lee & Associates Brokers Sale of 40,250 SF Industrial Building in Irving

by Taylor Williams September 19, 2017

IRVING, TEXAS — Lee & Associates has arranged the sale of a 40,250-square-foot industrial building located at 2109 Vanco Drive in Irving. Corbin Blount and Adam Graham of Lee & Associates represented the seller, Premier Technical Plastics, a manufacturing of petrochemicals with offices in Texas and Arkansas. The buyer and sales price were not disclosed.

September 19, 2017

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 452-Unit Self-Storage Facility in Clute, Texas

by Taylor Williams September 18, 2017

CLUTE, TEXAS — Marcus & Millichap has brokered the sale of Clute Affordable Storage, a 452-unit self-storage facility located at 508 E. Main St. in Clute, a Gulf Coast-area city approximately 50 miles south of Houston. Nicholas Ling of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the buyer, a limited liability company. Other terms of sale were not released.

September 18, 2017

Industrial Texas

Cabot, Stream Break Ground on 646,796 SF Logistics Center in Dallas

by Taylor Williams September 15, 2017

DALLAS — A partnership between Boston-based Cabot Properties Inc and Stream Realty Partners has broken ground on International Logistics Center, a 646,796-square-foot industrial asset located near the Dallas-Fort Worth International Airport. The property consists of three buildings: a 118,634-square-foot rear-load building, a 203,476-square-foot front-load building and a 324, 686-square-foot cross-dock building. International Logistics Center also offers access to State Highways 360 and 183. A timetable for completion has not yet been established

September 15, 2017

Industrial Office Texas

Colliers Closes Sale of 83,140 SF Flex Property in Richardson

by Taylor Williams September 15, 2017

RICHARDSON, TEXAS — Colliers International has closed the sale of an 83,140-square-foot office/warehouse property located at 1501 Plano Road in Richardson. Lizzy Blake of Colliers represented the seller, Addison-based investment firm Silver Tree Partners, and procured the buyer, Prattco Creekway Industrial. The property was 60 percent leased at the time of sale.

September 15, 2017

Industrial New York Northeast

GTJ REIT Acquires 248,370 SF Industrial Building in Montgomery, New York

by Amy Works September 15, 2017

MONTGOMERY, N.Y. — GJT REIT has purchased an industrial building located at 201 Neelytown Road in Montgomery for an undisclosed price. Situated on 43 acres, the 248,370-square-foot distribution facility is leased to FedEx Ground on a 10-year term. GTJ REIT now owns 49 properties, totaling approximately 6 million square feet, in the Tri-State area. The name of the seller was not released.

September 15, 2017

Industrial Loans Massachusetts Northeast

Valencia Realty Capital Arranges $4.5M in Acquisition Financing for Warehouse Facility in Newburyport, Massachusetts

by Amy Works September 15, 2017

NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features 26-foot clearance heights and approximately 14 percent of the building is office space. Stephen Smeke of Valencia secured the financing from a commercial lender for the borrower.

September 15, 2017

Industrial New Jersey Northeast

Colliers Arranges 181,000 SF Industrial Lease for ASA Apple in Linden, New Jersey

by Amy Works September 15, 2017

LINDEN, N.J. — Colliers International has arranged a 181,000-square-foot industrial lease for ASA Apple in Linden. The transportation and logistics solutions company has signed a long-term lease for the industrial building located at 55 Wildcat Drive. ASA Apple is a public warehouse and intermodal transportation company operating in the Port of New York region. Richard Mirliss, Richard Madison and Alex Vitro of Colliers represented ASA Apple, while Tom Monahan of CBRE represented the property owner, Prologis.

September 15, 2017

Georgia Industrial Southeast

Liberty Property Trust to Develop 840,000 SF Distribution Center South of Atlanta

by Camren Skelton September 15, 2017

JACKSON, GA. — Liberty Property Trust has unveiled plans to develop Liberty Commerce Center, an 840,000-square-foot distribution center in Jackson, roughly 35 miles south of Hartsfield-Jackson Atlanta International Airport. The developer purchased the 80-acre site at the corner of Windy Lane and Midway Road in May. Upon completion, the building will feature 40-foot clear-heights, 56- by 51-foot column spacing, 161 dock doors, a 70-foot speed bay, ESFR sprinkler systems, a truck court with 175 spaces and 445 parking spaces. In addition, the building will be designed to meet LEED and Energy Star certification. Future tenants can use the remaining land to either develop a second 240,000-square-foot rear-load building with car parking, build a 266-spot trailer parking area with storage or develop an up to 1,070-space car parking area with storage.

September 15, 2017

Illinois Industrial Midwest

Cushman & Wakefield Arranges Sale of Four-Building Industrial Portfolio in Chicago

by Kristin Harlow September 15, 2017

CHICAGO — Cushman & Wakefield has arranged the sale of a four-building industrial portfolio in West Town’s Kinzie Industrial Corridor in Chicago. The price was not disclosed. A joint venture between Clear Height Properties and Diamond Realty Holdings purchased the portfolio with plans to fully reposition it. Located at 404-434 N. Armour St. and 1514 W. Kinzie St., the properties span 45,568 square feet. By demolishing 1514 W. Kinzie and combining that site with the neighboring building at 1515 W. Hubbard and a vacant 14,000-square-foot site at 401 N. Ashland that the joint venture already owns, the new complex will support 46,000 square feet of space suited for flex/office, last-mile delivery or high-tech manufacturing. Larry Goldwasser, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield brokered the transaction. The team will also oversee lease-up of the redevelopment.

September 15, 2017

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