Industrial

NKF Brokers Sale of 90,000 SF Industrial Build-to-Suit Site in Romeo, Michigan

by Kristin Harlow November 9, 2017

ROMEO, MICH. — Newmark Knight Frank (NKF) has brokered the sale of a 90,000-square-foot industrial build-to-suit land site in Romeo, about 45 miles north of Detroit. The parties closed on the land and signed a construction agreement. The property is located at 100 Peyerk Court. Lanzen, Inc., a defense contractor, will relocate to the property from its current location at 30980 Groesbeck Highway in Roseville in 2018. Lanzen has occupied 34,000 square feet in Roseville since 1966. The company also has manufacturing facilities in Mancelona and Petoskey, which it will continue to occupy. Mike Davidson of NKF represented both the buyer, Lanzen, and the seller, Kemp and Peyerk LLC. Kemp Building & Development began construction on the property in October with completion scheduled for mid-summer 2018.

November 9, 2017

Industrial Maryland Southeast

Amazon to Open 855,000 SF Fulfillment Center in Baltimore’s Sparrows Point

by Camren Skelton November 9, 2017

BALTIMORE — Amazon.com Inc. has unveiled plans to open its fourth Maryland fulfillment center at 1700 Sparrows Point Blvd. in Baltimore’s Sparrows Point community. Amazon currently employs more than 5,000 associations in the state at its various centers. The new 855,000-square-foot facility will create more than 1,500 full-time jobs upon completion. Associates at the facility will pick, pack and ship customer items such as electronics, books, housewares and toys. The new facility will open in 2019, according to The Baltimore Sun.

November 9, 2017

Features Industrial Net Lease Office Retail Top Stories

Report: Net Lease Investment Market Heats Up During Third Quarter

by Taylor Williams November 9, 2017

TULSA, OKLA. — Sales of net leased properties settled in at nearly $11.4 billion during the third quarter of 2017, up 15 percent over the average for the past five third quarters ($10 billion), according to a recent report from Stan Johnson Company, a national brokerage and advisory firm specializing in net leased assets. The report tracks net leased properties across the office, industrial and retail real estate sectors. “This was the largest third-quarter move in six years and represents resilience in the net lease sector,” says John Zimmerman, director of Tulsa-based Stan Johnson Company. “We may be on our way to another record sales year.” The total is the highest quarterly sales volume in the past 12 months and follows a lackluster second quarter that saw investment sales volume drop more than 20 percent below the average for the past five second quarters. Growth occurred across all net lease sectors, with office, industrial and retail increasing 35 percent, 43 percent and 55 percent, respectively. The results were overwhelmingly driven by growth in the sheer number of transactions — more than 750 — as opposed to the amount of the assets traded. “In recent years, a lot of the growth …

November 9, 2017

Illinois Industrial Midwest

Bridge Development Partners Sells 1 MSF Industrial Portfolio in Waukegan, Illinois

by Kristin Harlow November 8, 2017

WAUKEGAN, ILL. — Bridge Development Partners has sold two industrial buildings totaling 1 million square feet in Waukegan for an undisclosed price. An institutional entity represented by Bentall Kennedy purchased the portfolio. The buildings were the first two facilities completed as part of Bridge Point North, a master-planned 225-acre business park. Building I is a 626,848-square-foot facility located at 1750 Bridge Drive. Completed in the fourth quarter of 2016, the building features 36-foot clear heights and is fully leased to an e-commerce tenant. Building II is a 400,758-square-foot facility located at 3900 Bur Wood Drive. Completed in September, the building features 32-foot clear heights. Bridge acquired the master-planned development from Cardinal Health in early 2015.

November 8, 2017

Industrial Texas

LT Foods Acquires 49,778 SF Industrial Facility in Metro Houston

by Taylor Williams November 8, 2017

MISSOURI CITY, TEXAS — LT Foods USA, a California-based importer and distributor of grains, teas and oils, has acquired a 49,778-square-foot industrial facility located at 14523 Fairway Pines Drive in Missouri City, a southwestern suburb of Houston. Built in 2009, the Class A property features 14 dock-high doors, 24-foot clear heights and about 4,500 square feet of office space. Jarret Venghaus and Jeff Venghaus of JLL represented LT Foods USA in the sale, other terms of which were not released.

November 8, 2017

Data Centers Industrial Texas

Colliers Brokers Sale of 16,000 SF Data Center in Metro Houston

by Taylor Williams November 8, 2017

SUGAR LAND, TEXAS — Colliers International has brokered the sale of a 16,000-square-foot data center located at 12626A Dairy Ashford Road in Sugar Land. The property offers three 15-ton chillers and is capable of producing three megawatts of power. Barkley Peschel and Trey Erwin of Colliers represented the seller, SuLiBa Investments LP, in the transaction. Cameron Hicks and Tim Thomas of Lee & Associates represented the undisclosed buyer.

November 8, 2017

Industrial Texas

NAI Partners Secures 28,000 SF Industrial Lease in Northwest Houston

by Taylor Williams November 8, 2017

HOUSTON — NAI Partners has arranged a 28,000-square-foot industrial lease at 4903 W. Sam Houston Parkway N. in northwest Houston on behalf of Advanced Control Systems LLC, a Houston-based supplier of industrial equipment. John Ferruzzo and Chris Kugle of NAI Partners represented the tenant in the lease negotiations. Doug Nicholson and Kyle Prater of Newmark Knight Frank represented the landlord, Cole Family Partnership Ten Ltd.

November 8, 2017

Industrial Oregon Western

Meriwether Partners Acquires 329,474 SF Industrial Campus in Oregon for $26.5M

by Nellie Day November 7, 2017

TUALATIN, ORE. — An affiliate of Meriwether Partners has acquired a 329,474-square-foot industrial campus in Tualatin for $26.5 million. The three-building property is located at 19855-19866 S.W. 124th Ave. The asset is fully leased to Nortek Air Solutions. It serves as the company’s headquarters and manufacturing facility. Nortek utilizes the facility for a variety of services including sales, research, development, project management, engineering, fabrication, manufacturing, powder coating, assembly and shipping. The campus features 32,913 square feet of office space, 39 grade-level doors, 14 dock doors, heavy power, LED lighting, rail service and 291 surface parking spaces. Jim Lewis, Gary Griff and Aaron Watt of Cushman & Wakefield represented Norek. Stu Peterson and Rhys Conrad of Macadam Forbes represented the seller, Huntair Properties, in this transaction.

November 7, 2017

California Industrial Western

PDX Industrial Investments Buys Industrial Building in Los Angeles for $23M

by Nellie Day November 7, 2017

LOS ANGELES — PDX Industrial Investments has purchased a 141,951-square-foot industrial building in the Los Angeles submarket of Chatsworth for $23 million. The building is situated on 6.8 acres at 9401 De Soto Ave. The buyer plans to lease the building. Mark Esses of California Realty Group represented PDX. Patrick DuRoss, Jeff Abraham and John DeGrinis of Colliers International represented the seller, Rexford Industrial Realty, in this transaction.

November 7, 2017

Connecticut Industrial Northeast

Pearce Real Estate Brokers Sale of Industrial Building in North Haven, Connecticut

by Amy Works November 7, 2017

NORTH HAVEN, CONN. — Pearce Real Estate has arranged the sale of an industrial building located at 395 State St. in North Haven. Trilot 7 Enterprises acquired the 18,000-square-foot property for an undisclosed price from Funaro Realty. The buyer operates Nelson Ambulance, Access Ambulance, Connecticut Handivan, Nelcon Towing and Recovery, and The Limo Group. Trilot 7 Enterprises will renovate the property, which is situated on 2 acres. Phil Barber of Pearce Real Estate represented the seller and buyer in the deal.

November 7, 2017

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