HOUSTON — First Industrial Realty Trust Inc. has broken ground on First 290 @ Guhn Road, a 126,250-square-foot distribution center located at 6913 Guhn Road in northwest Houston. The front-load facility will feature 32-foot clear heights, an ESFR sprinkler system, 185-foot truck court, 137 parking stalls and up to 46 trailer stalls. Completion is slated for summer 2018. Stream Realty Partners will handle leasing of the facility.
TAMPA, FLA. — JLL has arranged the sales of two build-to-suit industrial facilities located within Crossroads Commerce Center in Tampa. The seller, Blue Steel Development LLC, acquired 71.5 acres within Crossroads Commerce Center in 2016 to develop both facilities. Ryan Vaught, John Dunphy and Robyn Hurrell of JLL represented Blue Steel in both transactions. NewSouth Window Solutions, a replacement window and door provider, acquired a 238,094-square-foot build-to-suit facility for $14.3 million, and Colonial Grocers, a wholesale grocery distributor, purchased a 112,800-square-foot facility for $7.5 million. Gary Godsey and Caleb Lewis of JLL represented Colonial Grocers in the transaction. With the completion of these sales, Crossroads Commerce Center is 50 percent sold and occupied. Blue Steel has build pads for two additional buildings within the park, one totaling 215,434 square feet and the other totaling 77,760 square feet.
CHARLOTTE, N.C. — HFF has arranged the sale of a 232,000-square-foot distribution warehouse located at 6100 Harris Technology Blvd. in Charlotte. The building is located within Northwoods Business Park, roughly 10 miles from Uptown Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reports the asset sold for $19.4 million. Chris Norvell, Ryan Clutter and Patrick Nally of HFF arranged the transaction on behalf of the seller, Sun Life Financial/Bentall Kennedy. Hartz Mountain Industries Inc. purchased the building. Constructed in 1994, the warehouse features 24-foot clear heights, truck courts up to 170 feet, 34 loading doors and an ESFR sprinkler system. At the time of sale, the warehouse was fully leased to three tenants, including Iron Mountain, a Boston-based information management services company.
MOUNT PROSPECT, ILL. — Avison Young has brokered the sale of a 190,000-square-foot industrial portfolio in Mount Prospect within Chicago’s O’Hare submarket. The sales price was not disclosed. The four-building portfolio is 97 percent leased to tenants such as EPP Corp., Nikuni America and Lapmaster International. The buildings include: 501 Algonquin Road (62,344 square feet), 401-411 West Algonquin Road (15,278 square feet) and 1840-1864 and 1870-1894 South Elmhurst Road (56,182 square feet in each complex). Erik Foster and Mike Wilson of Avison Young represented the seller, Clear Height Properties. The buyer was not disclosed.
LOGAN TOWNSHIP, N.J. — Kenco Logistics has signed a lease to occupy space at 395 Pedricktown Road, a storage and distribution facility located at Dermody Properties’ LogistiCenter at Logan Industrial Park in Logan. The company, which specializes in distribution and fulfillment, transportation management, material handling, real estate management and information technology, will utilize 401,008 square feet of the facility for storage and distribution of its customers’ products. Ware Malcomb provided architectural services and Blue Rock is serving as contractor for the tenant improvements. Kenco is expected to move into the building in January. A remaining 80,750 square feet of the building is available for lease. LogistiCenter at Logan is a 1,100-acre, master-planned Class A industrial park. Marc Isdaner, Mark Chubb and Michael Zerbe of Colliers International represented Dermody Properties, while Vincent Ranalli and William Goodwin of CBRE represented Kenco in the lease transaction.
TAMPA, FLA. — HFF has arranged acquisition financing for a two-property, 332,207-square-foot industrial portfolio in Tampa. Ken Martin of HFF arranged the financing through JP Morgan Asset Management on behalf of the borrower, Citimark Inc. Other terms of the financing were not disclosed. The portfolio includes Pioneer Industrial Park and Sunstate Industrial Park, both located in Tampa’s Westshore/Airport submarket. Pioneer Industrial Park, which includes six buildings constructed between 1985 and 1986, was fully occupied at the time of sale. Constructed in 1980, the Sunstate Industrial Park includes eight buildings. At the time of sale, the industrial park was 89 percent occupied.
CHICAGO — Cawley Chicago has brokered the sale of a 310,775-square-foot industrial building in Chicago for an undisclosed price. High Street Realty Co. purchased the property from Westmount Realty Capital. Located at 4404 West Ann Lurie Place, the property was developed in the mid-1970s and modernized in 2010 by the previous owner, KTR Capital. Three tenants, including Gold Eagle, BT Wholesale and Southwall Insulating Glass, lease the building. The property, situated on 21.7 acres within the Crawford Industrial Park, features a 22-foot clear height, 69 truck docks, two drive-in doors and parking for 130 cars. Westmount acquired the property in 2014. Andrew Maletich of Cawley Chicago represented both parties in the transaction.
SHERMAN, TEXAS — Finisar, a California-based manufacturer of optical communications components used in Apple products, will open a 700,000-square-foot, previously shuttered manufacturing plant in Sherman. Funding for the project stems from a $390 million grant provided by Apple Inc. The awarding of the grant will enable Finisar, which already operates a plant in Allen, to increase its research and development spending and up its production of vertical-cavity surface-emitting lasers (VCSELs), which power Apple products like Face ID and Animoji. Approximately 500 new jobs will be created as a result of Apple’s grant. Holmes Davis of Binswanger represented the seller of Finisar’s new facility, SunEdison. Finisar expects the Sherman facility to begin shipping new VCSELs by the second half of 2018.
IRVING, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has brokered the sale of a 136,000-square-foot, Tier IV-designed data center facility located at 6001 Campus Circle W. in Irving. The two-story property underwent an expansion in the 1980s that delivered an additional 94,000 square feet of space and five back-up generators totaling more than 8,100 kilowatts of power. The facility is currently configured to have a 74,500-square-foot data-raised floor, 34,000 square feet of office space and 27,500 square feet of infrastructure space. Ryan Crabtree of CBCA represented the buyer, Skywalker Property Partners, in the sale.
COLUMBUS, OHIO — Avison Young has brokered the sale of a two-building industrial portfolio spanning 451,215 square feet near Columbus. The sales price was not disclosed. Both buildings are located in Rickenbacker Global Logistics Park, a 1,777-acre park with 30 million square feet of development. The portfolio includes Rickenbacker IV, a 330,179-square-foot distribution center located at 2400 Spiegel Drive in Groveport, Ohio, and Creekside V, a 121,036-square-foot corporate laboratory facility located at 2150 Bixby Road in Lockbourne. Creekside V is 100 percent leased to Luxottica, a global eyewear company, which utilizes the space for its U.S. manufacturing and distribution operations. Luxottica has occupied the building since 2007 and has invested nearly $30 million in specialized equipment within the space. Rickenbacker IV is 70 percent leased to Essilor of America, an optical-lens manufacturer and distributor. Essilor moved to the property in 1999 and has increased its space by 46 percent since then. Erik Foster and Mike Wilson of Avison Young represented the seller, institutional investors advised by J.P. Morgan Asset Management. Exeter Property Group purchased the portfolio.
