Industrial

Meridian Completes 421,203 SF Spec Industrial Building in Bartlett, Illinois

by Kristin Harlow August 9, 2017

BARTLETT, ILL. — Meridian Design Build has completed a 421,203-square-foot speculative industrial building for developer Exeter Property Group in Bartlett, about 35 miles northwest of Chicago. The new facility, located on a 34-acre site within Brewster Creek Business Park, can accommodate up to four tenants. The building features 32-foot clear heights, 117 loading docks, four drive-in doors, 449 car parking stalls and 110 exterior trailer stalls. Harris Architects provided architectural services, while V3 Cos. completed civil engineering work.

August 9, 2017

California Industrial Western

Westcore Properties Acquires 830,750 SF Industrial Building in San Bernardino

by Nellie Day August 8, 2017

SAN BERNARDINO, CALIF. — Westcore Properties has purchased an 830,750-square-foot industrial property in San Bernardino for an undisclosed sum. The Class A, cross-dock facility is located at 6207 North Cajon Blvd. The asset features 36-foot clear height, all-concrete truck yards and secured trailer parking. Nearby corporate neighbors include Hewlett Packard, JC Penny and FedEx, among others. CBRE’s Darla Longo brokered the off-market transaction with an undisclosed seller. The firm is also marketing the space for lease.

August 8, 2017

California Industrial Western

Nazareth Enterprises Buys Johnson & Johnson Vision Facilities in Milpitas for $49.8M

by Nellie Day August 8, 2017

MILPITAS, CALIF. — Nazareth Enterprises has purchased a 180,086-square-foot flex building in Milpitas occupied by Johnson & Johnson Vision for $49.8 million. The building is located at 510 Cottonwood Drive in the Silicon Valley submarket. The property was developed in 1981. Significant renovations commenced in 2008. The property features concrete construction, solar power, four dock doors and ample parking.

August 8, 2017

Illinois Industrial Loans Midwest

Wool Finance Arranges $14M Refinancing of Industrial Buildings in Vernon Hills, Illinois

by Kristin Harlow August 8, 2017

VERNON HILLS, ILL. — Wool Finance Partners has arranged a $14 million loan for the refinancing of two industrial buildings in Vernon Hills, a northern suburb of Chicago. The buildings total 350,000 square feet and are leased to a single tenant. A regional bank was the lender. The borrower was not disclosed. Gary Wool of Wool Finance arranged the loan.

August 8, 2017

Industrial Midwest Ohio

Colliers International Brokers $4.1M Sale of Warehouse in Cincinnati

by Kristin Harlow August 8, 2017

CINCINNATI — Colliers International has brokered the sale of an 81,681-square-foot warehouse in Cincinnati for $4.1 million. The property, located at 5480 Creek Road, features 6,681 square feet of office space. Raymond Storage Concepts Inc. (RSCI) purchased the property. The company sells, rents and services materials handling equipment, including dock doors and other warehouse solutions. RSCI also maintains sales and service facilities in Columbus and Louisville, Ky. John Gartner and Erin Casey of Colliers International represented the seller, Creek Road 5480 LLC, in the sales transaction. Roddy MacEachen, Rod MacEachen and Jared Wagoner of SQFT Commercial represented RSCI.

August 8, 2017

Industrial New Jersey Northeast

Saddleback Real Estate Developers Acquires Industrial Building in Fairfield, New Jersey

by Amy Works August 8, 2017

FAIRFIELD, N.J. — Saddleback Real Estate Developers has purchased an industrial building located at 8 Kulick Road in Fairfield. The 23,200-square-foot property sold for an undisclosed price. Saddleback Real Estate plans to continue to expand its portfolio in New Jersey. The name of the seller was not released.

August 8, 2017

Industrial Northeast Pennsylvania Retail

Hinerfield Commercial Arranges Sale of 51,000 SF Warehouse Building in Hazelton, Pennsylvania

by Amy Works August 7, 2017

HAZELTON, PA. — Hinerfield Commercial has brokered the sale of a showroom and warehouse facility located at 485 Susquehanna Blvd. in Hazelton. Bradley International acquired the 51,000-square-foot property for an undisclosed price. The building is occupied by Nathan’s Furniture Store, which originally purchased the property in 1983. Griff Keefer and John Cognetti of Hinerfield Commercial handled the sale negotiations.

August 7, 2017

Industrial Massachusetts Northeast

Kelleher & Sadowsky Brokers Sale of 40,754 SF Industrial Space in East Brookfield, Massachusetts

by Amy Works August 7, 2017

EAST BROOKFIELD, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial space located at 545-555 E. Main St. in East Brookfield. The undisclosed buyer plans to convert the 40,754-square-foot former Howe Lumber facility into a micro-brewery under the Timberyard Brewing brand. Paul Matt of Kelleher & Sadowsky brokered the sale. The name of the seller and acquisition price were not released.

August 7, 2017

Industrial North Carolina Southeast

Strategic Capital Partners to Develop $60M Industrial Project in Research Triangle Park

by Camren Skelton August 7, 2017

DURHAM, N.C. — Strategic Capital Partners has unveiled plans for Patriot Park, a $60 million industrial development located near Miami Road and Patriot Drive within Research Triangle Park in Durham. The project will comprise roughly 1 million square feet to be developed over the next several years. Construction on Phase I, which will include 322,800 square feet, is slated to begin this summer. In addition to Strategic Capital Partners, the investment group includes Westminster Capital, Berkshire Realty and First Tennessee Bank, which is providing construction financing. Patriot Park is the third major development in the Raleigh-Durham metro for Indianapolis-based Strategic Capital.

August 7, 2017

Industrial Southeast Virginia

Panattoni to Deliver 1 MSF Industrial Warehouse in Richmond

by Camren Skelton August 7, 2017

RICHMOND, VA. — Panattoni Development Co. Inc. has unveiled plans to develop a 1 million-square-foot speculative warehouse situated along Commerce Road in Richmond. CBRE | Richmond represented California-based Panattoni in the acquisition of the 62.3-acre parcel of land. Dubbed Virginia I-95 Distribution, the project will be developed in two phases. Each phase will feature a 461,700-square-foot cross-dock warehouse with 36-foot clear heights, LED lighting and multiple trailer drops. Phase I is slated for completion in summer 2018. Matt Anderson of CBRE | Richmond will handle the property’s leasing.

August 7, 2017

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