ELK GROVE VILLAGE, ILL. — Brown Commercial Group has brokered the sale-leaseback of a 32,000-square-foot industrial building in Elk Grove Village. The sales price was not disclosed. The property is located at 1200 Pratt Blvd. Dan Brown of Brown Commercial represented the seller, Andrews Paperboard Inc. Jim Pietrarosso, also of Brown Commercial, represented the buyer, a private investor. Brown Commercial negotiated a 10-year lease.
GARLAND, TEXAS — Huntington Industrial Partners will develop Shiloh Distribution Center, a two-building, 248,825-square-foot industrial property that will be located along Shiloh Road in the Dallas metro of Garland. The cross-dock property will feature 32-foot clear heights and an ESFR sprinkler system, as well as a total of 183 parking spaces and 64 dock-high doors. A timetable for construction has not yet been established.
FORT WORTH, TEXAS — Industrial landlord ML Realty Partners has negotiated a lease extension with Uniwell Laboratories LLC, a manufacturer of nutraceuticals and dietary supplements. The tenant will continue to occupy 130,128 square feet at 14108 Sovereign Road in Fort Worth.
SUMMERVILLE, S.C. — Thorne Research Inc. has broken ground on a new 272,000-square-foot manufacturing facility in Summerville, located 25 miles northwest of Charleston. The health and wellness technology company manufactures proprietary nutritional supplement products distributed through professional medical, athletic and consumer channels. The new facility will bring 330 jobs to the Summerville area and serve as Thorne Research’s corporate headquarters. Located on 26 acres within the Omni Industrial Campus, the facility is expected to be fully operational by mid-2018.
BOSTON — EagleBridge Capital has arranged $9 million in permanent mortgage financing for an industrial facility located at 173 Boston St. in Boston. Situated on 3.8 acres, the 57,600-square-foot warehouse and service facility features 20,000 square feet of office space, multiple drive-in doors and a carport. The facility is net leased to Verizon. Ted Sidel and Brian Sheehan of EagleBridge secured the loan for the undisclosed borrower through a financial institution.
VACAVILLE, CALIF. — A joint venture between PCCP and LDK Ventures has purchased a vacant 843,248-square-foot cross‐docked industrial building in Vacaville for an undisclosed sum. The asset is situated on 75 acres at 700 Crocker Drive in the Bay Area’s northern most city. The facility was built in the late 1970s. Features include 30-foot clear heights, a secured gated site with guard shack, excess yard area, a three-bay truck maintenance facility and a 30,000-square-foot cross-dock sorting facility with 32 dock-high doors. Brooks Pedder, John McManus and Tony Binswanger of Cushman & Wakefield represented both the buyer and seller in this transaction.
NEWPORT, MINN. — Meyer Distributing and Logistics has signed a 36,000-square-foot industrial lease at Raceway Business Center in Newport, about 10 miles southeast of St. Paul. The automotive distribution and logistics company will be the lead tenant at the new 83,000-square-foot development, which is currently under construction at 910 Hastings Ave. Scannell Properties broke ground on the project in July. The first phase will be available for occupancy in December. The building features 28-foot clear heights and multiple docks and drive-in doors. Daniel Madrigal of Scannell and Tom Sullivan and Peter Fooshe of Cushman & Wakefield negotiated the lease with Meyer. Scannell and Cushman & Wakefield are also marketing 144,000 square feet for lease in the second phase of the property.
Orlando’s industrial market is coming into its own. As high-profile users such as Amazon, Samsung and Best Buy continue to enter the market, major brands are taking a fresh approach to Central Florida’s logistical advantages, and an increased number of national REITs are combing the area for any opportunity they can uncover. Despite an unprecedented boom of speculative industrial building, demand continues to outpace supply. In the industrial sphere, Orlando has become the juggernaut of Florida. This growth has been fueled by a number of overlapping factors. Tourism has always been a huge driver for Orlando’s industrial sector. Disney World remains North America’s most-visited theme park. The convention business is thriving and Port Canaveral is one of the top cruise industry ports in the world, attracting some of the largest ships. Now, the area’s tech industry is taking off as well. The $75 million, 100,000-square-foot manufacturing research center, BRIDG — just delivered in Osceola County — will be a catalyst for further growth in high-tech manufacturing and research. Add to this the second fastest rate of population growth in the nation, and the city once known primarily as Florida’s tourist mecca is primed for commercial expansion. On the national level, …
KENOSHA, WIS. — Majestic Realty Co. has acquired a former dog-racing track known as Dairyland Greyhound Park in Kenosha for an undisclosed price. Majestic plans to convert the dog track, which closed seven years ago, into an industrial business park. Dubbed the Midwest Innovation Center prior to the sale, the 228-acre site has room for 2 million square feet of development, including a 1 million-square-foot building. Located at 5522 104th Ave., the site is nearly halfway between Milwaukee and Chicago. Thomas Boyle of Transwestern represented the seller, Rime Investments LLP.
ROMEOVILLE, ILL. — Meridian Design Build has completed construction of a 271,000-square-foot distribution building for Venture One in Romeoville, about 26 miles southwest of Chicago. The speculative industrial facility is located at 1200 Schmidt Road. The property features 32-foot clear heights, 27 truck docks, two drive-in doors and parking for 200 vehicles and 56 trailers. Ware Malcomb provided architectural services and Jacob & Hefner Associates completed civil engineering work. MB Financial provided the construction financing. Keith Stauber, Steve Ostrowski and Matt Rakowich of JLL are the property’s leasing agents.