Industrial

SkyView Advisors Arranges Sale of 122,239 SF Self-Storage Facility in Ridgeville, Ohio for $4.8M

by Kristin Harlow March 8, 2017

NORTH RIDGEVILLE, OHIO — SkyView Advisors has arranged the sale of Fields Store-All in North Ridgeville, about 20 miles south of Dayton. The 122,239-square-foot self-storage facility sits on approximately eight acres. Valley Storage purchased the property from Fields Store-All LTD. Built between 1979 and 1997, the facility consists of 261 non-climate controlled units. The units range in size from 45 square feet to 1,200 square feet. Ryan Clark of SkyView Advisors represented the seller in the transaction.

March 8, 2017

Industrial Market Reports Northeast Northeast Market Reports Pennsylvania

Philadelphia Continues to Be One of the Top Performing Industrial Markets in U.S.

by Camren Skelton March 8, 2017

Philadelphia is well positioned in the Northeast to flourish in the industrial sector in 2017. With a centralized position in the Boston-New York-Washington, D.C. corridor, Philadelphia has capitalized on its superb location to firmly establish itself as a distribution hub leading to sustained positive momentum in all key market sectors. The e-commerce market has been experiencing significant growth and the demand for near immediacy in delivery has been the driving force behind the strong performance of the industrial sector nationwide over the past few years, especially in the Northeast. In 2016, the industrial sector in greater Philadelphia had a banner year for absorption with a net positive of 9.27 million square feet absorbed. That represents the largest growth in occupancy since the onset of the Great Recession and places Philadelphia among the top performing markets in the U.S. for net absorption in 2016. Vacancy rates for the region have fallen to 6.9 percent — the lowest they’ve been since 2008. Asking rental rates rose steadily throughout 2016 and stood at $4.77 per square foot at year-end – the highest they’ve been since 2008. Following a record year for industrial sales in 2015, sales volume remained strong in the greater Philadelphia …

March 8, 2017

Industrial Loans Texas

JLL Secures Financing for Self-Storage Development in Pearland, Texas

by Taylor Williams March 7, 2017

PEARLAND, TEXAS — JLL has arranged financing for the construction of a new, 91,590-square-foot self-storage development in Pearland, a southern suburb of Houston. The five-year, non-recourse, floating-rate loan for the 726-unit facility, located at the intersection of Broadway and Kirby drives, was secured on behalf of SurePoint Self Storage. Griffin Guthneck of JLL led the effort for the financing, which originated from an undisclosed regional bank.

March 7, 2017

Industrial Midwest Wisconsin

Dickman Co. Negotiates Sale of 6,000 SF Industrial Building in Butler, Wisconsin

by Kristin Harlow March 7, 2017

BUTLER, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 6,000-square-foot industrial building in Butler, about 15 miles northwest of Milwaukee. The building is located at 5127 N. 125th St. Paul Pestka purchased the building from Richard Sommerfelt. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.

March 7, 2017

Georgia Industrial Southeast

Honda Invests $100M in West Georgia Production Plant

by John Nelson March 7, 2017

TALLAPOOSA, GA. — Honda has invested $100 million for a new assembly line and modifications for production of the auto industry’s first 10-speed automatic transmission for front-wheel-drive vehicles at Honda Precision Parts of Georgia LLC (HPPG) in Tallapoosa, roughly 57 miles west of Atlanta near the Georgia-Alabama border. The amount adds to the more than $3 billion that Honda has invested in its U.S. plants over the past four years. Developed by Honda R&D, the new transmission will appear first in upper grades of the 2018 Honda Odyssey minivan, launching this spring, and will be applied to other light-truck and car models for Honda and Acura in the future. HPPG was established in 2006 and annually produces more than 375,000 transmissions for Honda and Acura automobiles.

March 7, 2017

California Industrial Market Reports Western Western Market Reports

Industrial, R&D Development Returns to San Diego In Full Force

by Camren Skelton March 7, 2017

After a decade of scarce industrial development in San Diego County, 2016 marked its strong return. About 1.3 million square feet of industrial/R&D space was completed, which is more than what was delivered between 2013 and 2015 combined. This year is expected to be an even more active year for industrial/R&D speculative and build-to-suit development with an additional 1.4 million square feet currently under construction. North County San Diego has become the concentrated hotspot for both speculative and build-to-suit industrial development. Nearly two-thirds of all new industrial/R&D development completed in 2016 was in North County, including about 233,227 square feet of speculative construction. This new wave of development was triggered by 16 consecutive quarters of rental rate increases and last year’s record-low vacancy rate of 4.7 percent for combined industrial/R&D properties countywide. Average asking rental rates are increasing quicker in North County than anywhere else in San Diego. North County’s average asking rental rates have increased by 5.9 percent since the end of 2015, whereas the countywide rate increased by only 3 percent in the same period. Vacancy will likely fluctuate between 4 percent and 5 percent throughout 2017 as net absorption keeps pace with new construction. Many organizations are …

March 7, 2017

Industrial Texas

Marcus & Millichap Brokers Sale of Self-Storage Property in Metro Tulsa

by Taylor Williams March 6, 2017

BIXBY, OKLA — Marcus & Millichap has closed the sale of Self Storage Depot, a 76,050-square-foot self-storage facility in Bixby, a city about 20 miles south of Tulsa. Located at 13455 S. Memorial Drive near U.S. Route 64, the Class A property was valued at more than $100 per square foot at the time of sale. Trey Hammond and Michael Mele of Marcus & Millichap procured the buyer, a private investor, and represented the seller, a limited liability company, in conjunction with the firm’s Oklahoma broker of record, Tom Mann.

March 6, 2017

Arizona Industrial Western

BKM Buys Northwest Business Center in Phoenix for $17.2M

by Nellie Day March 6, 2017

PHOENIX — BKM Capital Partners has purchased the Northwest Business Center, a 227,603-square-foot industrial facility in Phoenix, for $17.2 million. The warehouse is located at 2310-2440 W. Mission Lane, 9014-9034 N. 23rd Ave. and 9013-9033 N. 24th Ave. BKM plans to implement a $3.5 million capital improvement program at the property. Planned improvements include a new roof, new parking lot, improved HVAC system and upgrades to the exterior including paint, landscaping and signage. Robert Buckley of Cushman & Wakefield represented the undisclosed seller.

March 6, 2017

California Industrial Western

Ring Power Corp. to Occupy Industrial Space in Rancho Dominguez

by Nellie Day March 6, 2017

RANCHO DOMINGUEZ, CALIF. — Ring Power Corp. has leased a 70,640-square-foot industrial building in Rancho Dominguez. The facility is located at 18700 Laurel Park. The five-year lease is valued at $3.1 million. The new facility will allow the company to expand its California regional center. Ring is one of the largest Caterpillar dealers in the Southeast. Todd Taugner, Frank Schulz and David Prior of Klabin Co. represented the landlord, TA Associates, in this transaction.

March 6, 2017

Delaware Industrial Northeast

Kane Co. Brokers Sale of 80,000 SF Industrial Building in Dover

by Haisten Willis March 6, 2017

DOVER, DEL. – The Kane Co. has brokered the sale of an 80,000-square-foot industrial facility at 44 Industrial Park Drive in Dover. The property is the former warehouse of Kessler Sales and Distribution, a wholesale distributor of pipe, valves, fittings and water heaters. Peter Billipp of The Kane Co. represented the seller and procured the buyer.

March 6, 2017

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