Industrial

Liberty Property Trust Opens First of Two Buildings Within Industrial Park in West Palm Beach

by John Nelson March 1, 2017

WEST PALM BEACH, FLA. — Liberty Property Trust has opened the first of two new buildings within its 70-acre industrial park in West Palm Beach, Liberty Airport Center (LAC). Situated at 6017 and 6035 Southern Blvd., the two assets span 218,000 square feet and feature ESFR fire suppression systems, T5 lighting and impact glass. The recently opened LAC Building One spans 140,400 square feet and features 32-foot clear heights, 42 dock doors, two oversized doors with ramps, a 130-foot private truck court and 54- by 50-foot column spacing. LAC Building Two will span 77,760 square feet and feature 24-foot clear heights, 32 dock doors, 200-foot shared truck court and 54- by 46-foot column spacing. When complete, LAC will include seven industrial buildings totaling 642,000 square feet.

March 1, 2017

Industrial North Carolina Southeast

JLL Arranges 102,660 SF Industrial Lease in Charlotte

by John Nelson March 1, 2017

CHARLOTTE, N.C. — JLL has arranged a new 102,660-square-foot lease for showroom and distribution space at Steele Creek Commerce Center in Charlotte. John Cashion of JLL represented the tenant, Hearth and Home Technologies, the world’s largest manufacturer of hearths. The Minnesota-based company is a subsidiary of HNI Corp. and operates 14 brands of fireplaces, stoves and inserts. The manufacturer also leases space within North Park Business Park and sought additional space in Charlotte to meet growing business demands. Brad Cherry, Spencer Yorke and Matt Greer, also with JLL, represented the landlord, EastGroup Properties, which owns both Steele Creek Commerce Center and North Park Business Park.

March 1, 2017

Illinois Industrial Midwest

Brennan Acquires 46,741 SF Distribution Facility in Elk Grove Village, Illinois

by Kristin Harlow March 1, 2017

ELK GROVE VILLAGE, ILL. — Brennan Investment Group has acquired a 46,741-square-foot distribution facility in Elk Grove Village in the O’Hare submarket of Chicago. The purchase price was not disclosed. The facility is located at 2395 Greenleaf Ave. The property serves as the corporate headquarters for National Metal Fabricators and is 100 percent leased to the company, which specializes in precision sheet metal fabrication, angle ring manufacturing and specialty custom rolling. Brennan owns and manages over 2 million square feet in the O’Hare submarket.

March 1, 2017

Industrial Loans New Jersey Northeast

HFF Arranges $22M in Construction Financing for 451,800 SF Industrial Facility in New Jersey

by Amy Works March 1, 2017

PISCATAWAY, N.J. — HFF has arranged $22 million in construction financing for 2 Turner Place, a to-be-built speculative warehouse and distribution building in Piscataway. A joint venture partnership between F. Greek Development and LaSalle Investment Management is the borrower. Michael Klein of HFF secured the three-year construction loan with TIAA-CREF Trust Co. FSB, known as TIAA Direct, for the borrower. Situated on 63.9 acres, the 451,800-square-foot facility will feature 36-foot clear heights, 149 loading doors, two drive-in doors and parking for 170 cars and 150 trailers. The property is scheduled for completion in the second half of the year.

March 1, 2017

Industrial Texas

Lee & Associates Negotiates Industrial Lease Renewal in Irving

by Taylor Williams February 28, 2017

IRVING, TEXAS — Lee & Associates has completed a lease renewal transaction for a 335,480-square-foot industrial space at 9400 N. Royal Lane in Irving, a city within the Dallas-Fort Worth metroplex. Tom Walrich of Lee & Associates represented the tenant, KGP Telecommunications Inc., a Minnesota-based distributor of telecommunications equipment and solutions. Mitchell Pruitt of Prologis represented the landlord internally in the lease deal.

February 28, 2017

Illinois Industrial Midwest

CBRE Arranges Sale of 188,166 SF Freezer Warehouse in Romeoville, Illinois

by Kristin Harlow February 28, 2017

ROMEOVILLE, ILL. — CBRE has arranged the sale of a 188,166-square-foot freezer cooler facility in Romeoville. The sales price was not disclosed. The facility is located at 1020 W. Airport Road. Completed in August 2016, the building is made of reinforced concrete and features 72-foot clear heights. The property is fully leased to Aryzta LLC and supports the company’s adjacent baking facility. Lexington Realty Trust purchased the facility. CBRE’s Andrew Sandquist, JC Asensio and Briggs Goldberg of Chicago and Chris Bosworth, Will Pike and Brian Pfohl of Atlanta represented the undisclosed seller.

February 28, 2017

Industrial Midwest Missouri

Store Here Self Storage Acquires New Facility in Jennings, Missouri

by Kristin Harlow February 28, 2017

JENNINGS, MO. — Store Here Self Storage has acquired a climate-controlled, self-storage facility in Jennings, about 10 miles north of St. Louis. The purchase price was not disclosed. The multi-story building, located at 8319 Jennings Station Road, was formerly a Schnuck’s grocery store before being converted into a self-storage facility in 2016. The building consists of two loading docks and 600 self-storage units, and a total net rentable area of 64,315 square feet. Steve Mellon and Brian Somoza of JLL represented the seller, Jennings Storage Solutions LLC.

February 28, 2017

Industrial Midwest Wisconsin

Dickman Co./CORFAC Brokers Sale of 56,077 SF Industrial Building in Milwaukee

by Kristin Harlow February 28, 2017

MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of a 56,077-square-foot industrial building in Milwaukee. The sales price was not disclosed. The building is located at 7630-7664 North 81st St. Ryan 3 Industrial Properties LLC purchased the building from Chili Pepper Properties LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Noble of the Dickman Co. represented both the buyer and seller in the transaction.

February 28, 2017

Georgia Industrial Southeast

Duracell Leases 873,800 SF at Core5 Industrial Facility in South Atlanta

by John Nelson February 28, 2017

FAIRBURN, GA. — Battery giant Duracell Corp. has signed a full-building lease totaling 873,800 square feet of industrial space at Core5 Logistics Center at Shugart Farms, an industrial development located in Atlanta’s I-85/Airport submarket in Fairburn. The Core5 facility will provide Duracell distribution services for all of North America. Sonoco, a global diversified packaging company, will support Duracell’s new battery packaging operation, and DHL will handle the logistics. Kris Bjornson and Bill Kee of JLL represented the tenant in the lease deal. Cushman & Wakefield represented the landlord, Core5 Industrial Partners.

February 28, 2017

Industrial Midwest Ohio

Marcus & Millichap Arranges $46M Sale of Best Buy Distribution Center in Findlay, Ohio

by Kristin Harlow February 27, 2017

FINDLAY, OHIO — Marcus & Millichap has arranged the sale of a Best Buy distribution center in Findlay for $46 million. The 1 million-square-foot center is Best Buy’s second-largest distribution facility and serves as one of the retailer’s regional distribution hubs for e-commerce and direct store fulfillment operations. Lori Schneider of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a national REIT.

February 27, 2017

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