Industrial

CBRE Negotiates $18.6M Sale of Distribution Center in Roseville, Minnesota

by Kristin Harlow December 1, 2017

ROSEVILLE, MINN. — CBRE has negotiated the sale of the Long Lake Distribution Center in Roseville, a Twin Cities suburb, for $18.6 million. The 220,557-square-foot distribution center is located at 3015 and 3075 Long Lake Road. Constructed in 2015, the facility features 32-foot clear heights and 31 dock doors. The property was 84 percent occupied at the time of sale by two tenants. Judd Welliver, Ryan Watts, Sonja Dusil, and Tom Holtz of CBRE represented the seller, Investors Real Estate Trust. Boston-based TA Realty LLC purchased the property.

December 1, 2017

Industrial Market Reports Texas Texas Market Reports

Direct Vacancy Reaches 12-Year Low in San Antonio Industrial Market

by Taylor Williams December 1, 2017

As we enter the fourth quarter, fundamentals are strong in San Antonio’s industrial market, with direct vacancy tightening and continuing the hot streak it’s been on the past few years. At the third quarter’s end, the metro’s direct vacancy rate stood at 5.4 percent, down from 6.2 percent during the second quarter and 5.8 percent during 2016. In fact, that 5.4 percent direct vacancy rate represents a 12-year low. The figure is a far cry from the 9.3 percent direct vacancy registered during the third quarter of 2006 — the last time the market posted a rate above 9 percent. This d in direct vacancy is particularly noteworthy given that more than 10 million square feet of inventory has been added to the market since that time. The shrinking rate has also coincided with a slight increase in direct average asking rent, which now stands at $5.99 per square foot following a $0.16 quarter-over-quarter increase. Driving the falling vacancy numbers was an economy that fast-tracked over the summer. The San Antonio Business-Cycle Index increased at its fastest pace since 2016, while the area unemployment rate remained the same and job growth surged. Job growth increased at a 3.6 percent annualized …

December 1, 2017

Industrial New York Northeast

Kalmon Dolgin Arranges $5M Sale of Industrial Building in Brooklyn

by Amy Works November 30, 2017

NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of an industrial building located at 315 Liberty Ave. in the Brownsville section of Brooklyn. Beldex Realty sold the property to 315 Liberty Avenue LLC for $5 million. The buyer plans to redevelop the two-story, 28,000-square-foot industrial building into office space. The building features gas heat, heavy power, drive-in doors and a loading dock. Allison Chambers of KDA represented the buyer, while Samuel Zupnick and Nathan Friedman, also of KDA, represented the seller in the transaction.

November 30, 2017

Industrial Texas

Brennan Investment Acquires 135,571 SF Industrial Park in Houston

by Taylor Williams November 30, 2017

HOUSTON — Chicago-based Brennan Investment Group LLC has acquired a five-building, 135,571-square-foot industrial park in northwest Houston. The buildings offer a mix of office and warehouse space and were collectively 84 percent leased at the time of sale. Other terms of sale were not released.

November 30, 2017

Industrial Texas

NAI Robert Lynn Secures 43,839 SF Industrial Lease in Metro Dallas

by Taylor Williams November 30, 2017

CARROLLTON, TEXAS — NAI Robert Lynn has secured a 43,839-square-foot industrial lease at 2045 Westgate Drive in the Dallas metro of Carrollton on behalf of Snap Drape Brands LLC, a provider of linens and draperies. Built in 1999, the building offers about 134,000 square feet of net rentable space. Cole Horowitz and Mark Miller of NAI Robert Lynn represented the tenant in the lease negotiations.

November 30, 2017

Industrial Midwest Wisconsin

Coldwell Banker Arranges Sale of 247,214 SF Industrial Portfolio in Beloit, Wisconsin

by Kristin Harlow November 30, 2017

BELOIT, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has arranged the sale of three industrial buildings and one office building totaling 247,214 square feet in Beloit, located in southern Wisconsin. The sales price was not disclosed. Toy and game company PlayMonster LLC occupies all the buildings. Bill Mears of Coldwell Banker represented the buyer, Badger Property Investments.

November 30, 2017

Industrial Kansas Midwest

McCarthy Completes 214,000 SF Dairy Ingredients Plant in Garden City, Kansas

by Kristin Harlow November 30, 2017

GARDEN CITY, KAN. — McCarthy Building Cos. Inc. has completed DFA Garden City, a 214,000-square-foot dairy ingredients plant in Garden City, which is located in southwest Kansas. The plant, which has brought 66 new jobs to the area, produces whole and skim milk powder, nonfat dry milk powder and cream, and receives milk from regional farms. DFA Garden City is a partnership between Dairy Farmers of America and 12 of its member farms in southwest Kansas. The facility will help support the industry’s continued growth in the region, as well as meet rising demand for U.S. dairy, both domestically and globally, according to McCarthy.

November 30, 2017

Illinois Industrial Midwest

Darwin Brokers Sale of 100,000 SF Industrial Building in Elgin, Illinois

by Kristin Harlow November 30, 2017

ELGIN, ILL. — Darwin Realty has brokered the sale of a 100,000-square-foot industrial building in Elgin, located about 35 miles northwest of Chicago. The sales price was not disclosed. St. Charles Trading purchased the property, located at 1400 Madeline Lane within Randall Point Business Park. The global supplier of food ingredients will use the facility to consolidate and expand multiple warehousing and production operations in the western suburbs. Brendan Sheahan and Noel Liston of Darwin represented St. Charles Trading in the transaction. Mike Sedjo and Jack Brennan of CBRE represented the seller, Pancor Construction & Development.

November 30, 2017

Florida Industrial Southeast

Denholtz, Militello Purchase Two Industrial Portfolios in Orlando for Combined $17.2M

by Camren Skelton November 29, 2017

ORLANDO, FLA. — Denholtz Associates, in partnership with Militello Capital, has acquired two industrial/flex portfolios in Orlando for a combined $17.2 million. The Silver Star Portfolio, an eight-building, 254,915-square-foot industrial flex portfolio, was acquired for $12.1 million, and the Parkway Commerce Center, a two-building, 91,500-square-foot industrial flex property, was acquired for $5.1 million. Denholtz and Militello purchased Parkway Commerce Center from Brennan Investment Group. The Silver Star Portfolio, located at 3600-3802 Silver Star Road in Orlando, was 95 percent leased at the time of sale to 30 tenants. Parkway Commerce Center, located at 3501 Parkbreeze Court, was 68 percent leased at the time of sale to 23 tenants. Both properties are less than 12 miles from Orlando International Airport.

November 29, 2017

Georgia Industrial Southeast

Silverman Group to Break Ground on Second Building at Bright Star Logistics Center in Metro Atlanta

by Camren Skelton November 29, 2017

DOUGLASVILLE, GA. — The Silverman Group has unveiled plans to break ground on the second building at Bright Star Logistics Center, a master-planned industrial campus in Douglasville, roughly 22 miles west of Atlanta. The New Jersey-based company will break ground on the 330,000-square-foot, speculative manufacturing/distribution building in the fourth quarter. Building Two will feature 36-foot clear heights, cross-dock configuration and ample car parking and trailer storage. Completion is slated for summer 2018. Bright Star Logistics Center is expected to attract industrial users including manufacturing, warehouse/distribution and third-party logistics companies. Upon completion, the park will features two modern distribution buildings, one of which is currently under construction and is preleased to Andersen Windows, a window and door manufacturer. Pat Murphy, James Phillpott and Tara Healy of Cushman & Wakefield will handle the project’s leasing assignment on behalf of The Silverman Group.

November 29, 2017

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