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Industrial

70-Robinson-Blvd-Orange-CT
ConnecticutIndustrialNortheast

Pearce/George J. Smith Commercial Arranges Sale of Industrial Building in Orange, Connecticut

by Amy Works

ORANGE, CONN. — Pearce/George J. Smith Commercial Real Estate has brokered the sale of an industrial building situated on 6.5 acres at 70 Robinson Blvd. in Orange. Robin Equity LLC acquired the 50,666-square-foot property for an undisclosed price. The buyer will repurpose the building for American Seal & Engineering Corp. to serve as its new global corporate headquarters and main manufacturing facility for engineered products, advanced manufacturing technology, and product testing and development. Carl Russell of Pearce/George J. Smith Commercial represented the sellers, ALM Properties and MCM Investments in the deal.

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IllinoisIndustrialMidwest

Millennium Properties Brokers $1.4M Sale of Industrial Warehouse in Wheeling, Illinois

by Kristin Harlow

WHEELING, ILL. — Millennium Properties R/E has brokered the sale of a 30,000-square-foot industrial warehouse in Wheeling for $1.4 million. The property, located at 140 Shepard Ave., is fully leased to multiple tenants. The building features 14-foot ceilings, two docks and 10 drive-in doors. Brad Thompson and Chet Evans of Millennium brokered the sale. Neither the name of the buyer nor the seller was disclosed.

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FeaturesIndustrialTop Stories

Last-Mile Delivery Is Game Changer in Industrial Sector, Says SIOR President

by Jeff Shaw

Del Markward will be logging a lot of frequent flyer miles over the next year as he travels around the country and abroad to meet with several chapters of the Society of Industrial and Office Realtors (SIOR), an organization with more than 3,200 members in 685 cities and 36 countries. In addition to serving as the 2018 global president of SIOR, Markward is founder of the Markward Group, a real estate consulting, advisory and brokerage firm based in Allentown, Pa. Markward was officially inducted as president of the organization in October at the outset of the SIOR World Conference in Chicago. He most recently served as president-elect of SIOR and before that was vice president. The commercial real estate community recognizes professionals who have earned the SIOR designation as among the most capable and experienced brokerage practitioners in any market, according to the organization. On the heels of the SIOR World Conference, REBusinessOnline interviewed Markward about some of the dynamic changes taking place in the industrial real estate sector today, including the sharp rise in demand for space driven by e-commerce companies. What follows is an edited transcript of the Q&A. REBusinessOnline: Supply chain logistics is an industry undergoing a dramatic …

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100-Adams-Rd-Clinton-MA
IndustrialLoansMassachusettsNortheast

Transwestern Consulting Group Arranges Two Loans Totaling $22.8M for Warehouses in Massachusetts

by Amy Works

CLINTON AND MEDFORD, MASS. — Transwestern Consulting Group has arranged two loans totaling $22.8 million for NorthBridge Partners. The loans will finance the acquisition and future leasing costs for two warehouses in Massachusetts. Transwestern secured a long-term, non-recourse $13.9 million loan for 100 Adams Road, a warehouse in Clinton, through Middlesex Savings Bank. The 345,000-square-foot building is fully occupied by five tenants. Completed in 2000, the property features 30-foot clear ceiling heights, 53 loading docks and one drive-in door. Transwestern also arranged a long-term, non-recourse $8.9 million loan for 23 Sycamore Ave. in Medford through HarborOne Bank. The warehouse features 91,000 square feet of high-bay warehouse space.

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IndustrialTexas

Exeter to Develop 600,000 SF of Speculative Industrial Space in Metro Austin

by Taylor Williams

BUDA, TEXAS — Exeter Buda Land LP, an affiliate of Philadelphia-based Exeter Property Group, will develop approximately 600,000 square feet of industrial space on a speculative basis in Buda, a city just south of Austin along the Interstate 35 corridor. The company expects to begin construction of Phase I, which will deliver 300,000 square feet, in early 2018. The project is expected to create at least 50 new jobs.

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IndustrialMidwestMissouri

BJC Healthare, CoreLink Sign Industrial Leases at Fenton Logistics Park in Fenton, Missouri

by Kristin Harlow

FENTON, MO. — BJC HealthCare’s Clinical Asset Management Division and CoreLink have signed industrial leases totaling 150,000 square feet at Fenton Logistics Park, on the site of the former Chrysler plant in Fenton. Starting in January 2018, BJC will occupy 80,000 square feet in Building I. The 160,000-square-foot facility was completed in May. CoreLink, which designs and manufactures precision surgical instruments and implants, will occupy 67,000 square feet in Building II upon completion next summer. The facility will also total approximately 160,000 square feet. In addition to Buildings I and II, Building III will add an additional 168,000 square feet when it is completed in summer 2018. Building IV has been approved and fully entitled by the city of Fenton. Construction of the 157,500 square-foot building is expected to begin in the first quarter of 2018. The park’s developer, KP Development, acquired the former Chrysler plant in November 2014, and has since invested $12 million in site improvements. The first four buildings represent an additional investment of $65 million. All told, the park is expected to span 2.1 million square feet, including nearly 1.2 million square feet of manufacturing, logistics and warehouse space; 480,000 square feet of office/warehouse and flex …

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IndustrialTexas

IOV Acquires 44-Acre Industrial Lot in Metro Fort Worth

by Taylor Williams

SAGINAW, TEXAS — Industrial Outdoor Ventures (IOV), a Chicago-based investment firm, has acquired a 44-acre industrial lot in the northern Fort Worth metro of Saginaw. Located at 1353 Jarvis Road near Alliance Business Park, the property features 1,700 spaces for trucks, trailers, containers and chassis, making it the largest managed truck and trailer parking lot in the country, according to IOV. The company will invest in capital improvements to the property’s lighting, security measures and equipment tracking systems, and rebrand it as “Park My Truck.” Norco Trucking Corp. sold the property to IOV for an undisclosed price.

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District of ColumbiaIndustrialOfficeSoutheast

SIOR Names Jim Hirt CEO

by Camren Skelton

WASHINGTON, D.C. — The Society of Industrial and Office Realtors (SIOR) has hired Jim Hirt as CEO. Hirt comes to SIOR as a Certified Association Executive (CAE) with 22 years of experience managing staff and volunteer leaders representing global organizations in multiple industries. “As the organization continues to grow as an international thought leader and industry expert, we look forward to leveraging Jim’s ability to foster creativity and build successful relationships to promote the success of SIOR and its members,” said Del Markward, SIOR global president, in an official release. Prior to joining SIOR, Hirt served as CEO of the American Society of Appraisers, and has held positions with the American Association of Poison Control Centers, Public Risk Management Association, National Association of Mortgage Brokers and AmeriCorps. In addition, Hirt serves on the California State University — Fuller DC Scholars Advisory Board and is a member of the American Society of Association Executives. “As we continue to look toward the future of this organization, my goal is to further solidify SIOR’s status not only as an industry leader, but also as an active global community by fostering engagement and innovation through every level of our organization,” said Hirt in a release. …

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IndianaIndustrialMidwest

Cawley Chicago Brokers $16.9M Sale of Two Industrial Buildings in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Cawley Chicago has brokered the sale of two industrial buildings in Indianapolis for $16.9 million. The buildings, totaling 607,231 square feet, are located within the Shadeland I-70 Business Park near I-70 and I-495. The properties were 94 percent occupied by five tenants at the time of sale. The largest tenants, Pratt Visual Solutions and MicroMetl, occupy a combined 89 percent. David Conroy and Timothy Gallagher of Cawley Chicago brokered the transaction. Plymouth Industrial REIT purchased the buildings from First Highland Management & Development Corp. Inc. In completing the transaction and expanding its portfolio, Plymouth structured the acquisition as an UPREIT (umbrella partnership real estate investment trust), a vehicle that enables a company seeking to sell appreciated real estate to defer or completely avoid capital gains tax liability.

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IllinoisIndustrialMidwest

Meridian Breaks Ground on 75,000 SF Industrial Build-to-Suit in Chicago

by Kristin Harlow

CHICAGO — Meridian Design Build has broken ground on a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The property is located on a 4.2-acre site at 2639 S. Damen Ave. The building will feature 36-foot clear heights, LED lighting, a fully air-conditioned wholesale floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Schmidt Design Inc. is providing architectural services, while Kimley-Horn is completing civil engineering work. A timeline for project completion was not disclosed.

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