Industrial

SunCap Acquires 30 Acres in North Charleston for 375,000 SF Industrial Campus

by Camren Skelton March 14, 2018

NORTH CHARLESTON, S.C. — SunCap Property Group has acquired 30 acres within Palmetto Commerce Parkway in North Charleston with plans to develop a new industrial campus. The project, dubbed Palmetto Trade Center, will accommodate two buildings totaling 375,000 square feet. The property is located roughly 17 miles northwest of the Port of Charleston. Palmetto Trade Center I will total 141,000 square feet and is scheduled to break ground in May. McMillan Pazdan Smith is the project architect, and CBRE’s Charleston office will handle the campus’ leasing assignment. The project marks SunCap’s third project in the Charleston area since the company’s inception in 2009.

March 14, 2018

Industrial Leasing Activity Midwest Ohio

Stonecrop Technologies Signs 527,127 SF Industrial Lease Near Columbus, Ohio

by Kristin Harlow March 14, 2018

COLUMBUS, OHIO — Stonecrop Technologies has signed a 527,127-square-foot industrial lease to fully occupy a building located at 3500 Southwest Blvd. in Grove City, about 10 miles south of Columbus. The wireless systems deployment company will occupy the space for three years. Michael Linder of Colliers International brokered the lease transaction, according to Columbus Business First. Plymouth Industrial REIT Inc. owns the property and recently announced a new regional office in Columbus to serve its properties in Ohio and Indiana.

March 14, 2018

Industrial Leasing Activity Midwest Wisconsin

Founders 3 Negotiates 51,700 SF Industrial Lease in Brookfield, Wisconsin

by Kristin Harlow March 14, 2018

BROOKFIELD, WIS. — Founders 3 has negotiated a 51,700-square-foot industrial lease for The Community Warehouse Inc. in Brookfield, a suburb of Milwaukee. The property is located at 4837 W. Woolworth Ave. Joe Carollo of Founders 3 represented the landlord, Woolworth Development Group LLC, in the lease transaction. The tenant is a nonprofit, faith-based organization that offers home and facility improvement materials to individuals, businesses and organizations in Milwaukee’s Community Block Grant Development Zone.

March 14, 2018

Acquisitions Arizona Colorado Industrial Self-Storage Western

JV Acquires Two-Property Self-Storage Portfolio in Arizona, Colorado

by Amy Works March 14, 2018

GLENDALE, ARIZ., AND LITTLETON, COLO. — A joint venture between Advantage Storage and Harrison Street Real Estate Capital has acquired a two-property self-storage portfolio from a partnership between Wasatch Storage Partners and a private real estate fund advised by Crow Holdings Capital – Real Estate. The price was not disclosed. Together the properties total 147,521 square feet and 1,425 storage units. Both assets feature drive-up units, climate-controlled units, secure fencing with electric access control, 24-hour video surveillance and retail-oriented customer service offices. The portfolio includes the 96,950-square-foot, 955-unit self-storage facility located at 7910 E. Beardsley Road in Glendale, a Phoenix suburb; and the 50,571-square-foot, 470-unit facility located at 11645 W. Belleview Ave. in Littleton, a suburb of Denver. Brian Somoza and Steve Mellon of JLL brokered the sale.

March 14, 2018

Acquisitions Industrial Washington Western

Bixby Land Co. Buys Industrial Building in Metro Seattle for $18.7M

by Amy Works March 14, 2018

SUMNER, WASH. — Newport Beach, Calif.-based Bixby Land Co. has purchased an industrial building located at 1800 Fryar Ave. in Sumner. Panattoni Development sold the property, which is included within Seattle’s Kent Valley industrial submarket, for $18.7 million. Built in 2017, the 55,660-square-foot property is leased to Cummins Inc., a company that designs, manufactures and distributes engines and power generation products. The transaction represents part of a strategic investment initiative by Bixby to acquire $400 million in leased warehouse and distribution buildings in the Western United States over the next two to three years. Brett Hartzell of CBRE represented the seller, while Bixby was self-represented in the deal.

March 14, 2018

Industrial Texas

Ridge Completes 351,171 SF Industrial Building in Southeast Austin

by Taylor Williams March 13, 2018

AUSTIN, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has completed construction of a 351,171-square-foot industrial building within Southpark Commerce Center in southeast Austin. The property, located just off Interstate 35 within 10 miles of downtown Austin and Austin International Airport, was developed on a speculative basis. Southpark Commerce Center will span more than 2.3 million square feet at full build-out.

March 13, 2018

Industrial Texas

Colliers Brokers Sale of 472,284 SF Distribution Center in West Dallas

by Taylor Williams March 13, 2018

DALLAS — Colliers International has brokered the sale of a 472,284-square-foot distribution center located at 2020 Singleton Road in west Dallas. The rail-served property offers convenient access to Interstates 30 and 35 and the Dallas North Tollway. Chris Teesdale and Tom Pearson of Colliers International represented the seller, an Ohio-based freight and logistics firm, in the transaction. Teesdale and Pearons also procured the buyer, 2020 Singleton Blvd. LLC.

March 13, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 49,000 SF Industrial Lease in Houston

by Taylor Williams March 13, 2018

HOUSTON — Lee & Associates has negotiated a 49,000-square-foot industrial lease at 4514 Brittmoore Road in northwest Houston. Preston Yaggi and Stephen Kuper of Lee & Associates represented the landlord, Chapman & Cole, in the lease negotiations. Travis Land and Nick Peterson of NAI Partners represented the tenant, BiSN Oil Tools LLC, a provider of sealing solutions for the oil and gas business.

March 13, 2018

Illinois Industrial Midwest

SVN | Chicago Brokers $1.4M Sale of Industrial Building in Lisle, Illinois

by Kristin Harlow March 13, 2018

LISLE, ILL. — SVN | Chicago Commercial has brokered the $1.4 million sale of a 22,839-square-foot industrial building in Lisle. The property is located at 1958 University Lane. John McDermott and Aidan Bowe of SVN represented the buyer, a Michigan-based electrical motor seller.

March 13, 2018

Industrial New York Northeast Top Stories

Blackstone REIT Acquires 22 MSF Industrial Portfolio for $1.8B

by Katie Sloan March 13, 2018

NEW YORK CITY — Blackstone Real Estate Income Trust Inc. (NYSE: BX) has acquired the Canyon Industrial Portfolio, a 22 million-square-foot portfolio of industrial assets, for approximately $1.8 billion. The portfolio consists of 146 last-mile, infill warehouses and distribution buildings with major concentrations in Chicago; Dallas; Baltimore; Washington, D.C.; Los Angeles; the Inland Empire region of southern California; and south and central Florida. The portfolio was 90 percent occupied at the time of sale by tenants including Amazon, FedEx, DHL, Coca-Cola, Fiat Chrysler and the U.S. Government. The seller in the transaction was undisclosed. With the closing of this acquisition, New York City-based Blackstone’s portfolio totals $7 billion in gross asset value across 272 assets, primarily concentrated in 33 million square feet of industrial assets and 17,200 multifamily apartments. The company seeks to invest in stabilized, income-generating U.S. commercial real estate across property types including multifamily, industrial, retail and hotel. Blackstone stock closed on Monday, March 12, at $34.43 per share, up from $27.95 one year ago. — Katie Sloan

March 13, 2018

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