Industrial

Crow Holdings Breaks Ground on Two Industrial Buildings in Atlanta, Northeast Georgia

by Camren Skelton February 7, 2018

ATLANTA AND JEFFERSON, GA. — Crow Holdings Industrial (CHI), the industrial development affiliate of Dallas-based Crow Holdings, has broken ground on two industrial buildings in Atlanta and northeast Georgia. In Atlanta, the firm is constructing Southside Logistics Center, a 135,000-square-foot building located roughly three miles from Hartsfield-Jackson Atlanta International Airport. The building features 30-foot clear heights, 52-by-52-foot column spacing, 224 parking spaces and an ESFR sprinkler system. Mike Sutter and Rick Tumlin of Lee & Associates are handling the building’s leasing assignment. In Jefferson, roughly 60 miles northeast of Atlanta in Jackson County, CHI is underway on New Salem 85 Logistics Center. The cross-dock building totals 636,000 square feet and will feature up to 239 trailer spaces. Located less than a mile from Interstate 85, the building is suited for distribution and fulfillment users. Wit Truitt and Bob Currie of JLL are handling the property’s leasing assignment. In addition to the two new developments, CHI is also underway on Royal 85 Business Center in Union City, roughly eight miles from the Atlanta airport, and Braselton Point Logistics Center in the northeast Georgia city of Braselton. Once completed, CHI will have developed more than 1.5 million square feet of industrial space across …

February 7, 2018

Industrial Office Texas

JLL Brokers Sale of 93,000 SF Flex Property in Northwest Houston

by Taylor Williams February 6, 2018

HOUSTON — JLL has brokered the sale of a 93,000-square-foot flex property located at 7207 Gessner Road in northwest Houston. GBP Industrial purchased the building from California-based development/management firm Goldrich & Kest Industries LLC. Built in 1997, the two-story, Class B building is fully leased to LabCorp, a North Carolina-based healthcare diagnostics firm. Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell and Grant Matthews of JLL brokered the sale.

February 6, 2018

Industrial New York Northeast

Cushman & Wakefield Brokers $135M Sale of Industrial Portfolio in New York

by Amy Works February 6, 2018

LONG ISLAND, N.Y. — Cushman & Wakefield has arranged the sale of a 50 percent interest in a 3.6 million-square-foot industrial portfolio in Nassau and Suffolk counties. The properties had been owned in a joint venture comprising Cammeby’s and FBE. Cammeby’s acquired the 50 percent of the portfolio owned by FBE for $135 million. The 38-building portfolio is close to 90 percent occupied. Tenants include Summit Plastics, Sam Ash, Ultimate Precision Metal, Luminance and Newsday. The portfolio offers a mix of industrial, office and research and development space. Gary Gabriel, Andrew Merin, David Bernhaut, Kyle Schmidt, Brian Whitmer and Stephen Palmese of Cushman & Wakefield brokered the transaction.

February 6, 2018

Industrial New York Northeast Office

Barone Management Breaks Ground for 100,000 SF Spec Development in Long Island City

by Amy Works February 6, 2018

NEW YORK CITY — Barone Management, as developer and contractor, has broken ground for a speculative development located at 9-03 44th Road in Long Island City. The three-story, 100,000-square-foot building will feature office and industrial/flex space, as well as frontage on four streets and city and water views. Designed by JLS Designs, the project is slated for completion in September 2019. CBRE has been retained as the exclusive leasing agent for the project.

February 6, 2018

Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 41,803 SF Industrial Building in Lincolnshire, Illinois

by Kristin Harlow February 6, 2018

LINCOLNSHIRE, ILL. — Entre Commercial Realty LLC has brokered the sale of a 41,803-square-foot industrial building in Lincolnshire. The sales price was not disclosed. Security Lock Distributors, an electrical and mechanical door hardware company, purchased the facility. The distributor’s current facility in Buffalo Grove is available for lease. The Lincolnshire property, located at 640 Heathrow Drive within the Lincolnshire Business Park, features four interior docks, 4,280 square feet of office space and a clear height of 21 feet. Brian Bocci of Entre represented Security Lock Distributors. Jason Talanian of Glenwood Commercial Real Estate represented the undisclosed seller.

February 6, 2018

Industrial Multifamily Northeast Pennsylvania

Colliers Arranges $4.1M Sale of Former Red Bell Brewery in Philadelphia

by Amy Works February 5, 2018

PHILADELPHIA — Colliers International has brokered the sale of the former Red Bell Brewery site, located at 1500 N. 31st St. in Philadelphia. MM Partners LLC purchased the site for $4.1 million. The buyer plans to redevelop the property into residential apartment units with ground-floor retail space. Situated on 2.2 acres, the vacant building consists of three sections that total 204,276 square feet of interior building space. Red Bell Brewery was constructed in the 1890s for the F.A. Poth & Sons Brewing Co. Later it was owned by Abe L. Brewery LP. The property has been vacant for 20 years. Michael Barmash of Colliers International/Philadelphia brokered the transaction.

February 5, 2018

Industrial Northeast Rhode Island

Sweeney Real Estate Brokers $1.4M Sale of 213,457 SF Industrial Building in Rhode Island

by Amy Works February 5, 2018

LINCOLN, R.I. — Sweeney Real Estate & Appraisal has arranged the sale of an industrial building located at 50 Industrial Circle in Lincoln. Lincoln Freight Terminal sold the property to 50 Industrial Circle LLC for $1.4 million. The property feature 213,457 square feet of industrial space. Thomas Sweeney of Sweeney Real Estate represented the seller, while George Paskalis of MG Commercial represented the buyer in the deal.

February 5, 2018

Industrial Kansas Midwest

Joint Venture Acquires 589,391 SF Industrial Portfolio in Lenexa, Kansas

by Kristin Harlow February 5, 2018

LENEXA, KAN. — A joint venture between Prism Real Estate Services LLC and Ameritas Life Insurance Corp. has acquired the Lenexa Industrial Park portfolio in Kansas. The purchase price was not disclosed. The portfolio consists of 17 industrial and flex buildings totaling 589,391 square feet. Hugh Zimmer developed the properties, which are located at the interchange of I-35 and I-435. Michael VanBuskirk, David Zimmer and Chris Robertson of Newmark Grubb Zimmer (NGZ) represented the buyer in the transaction. NGZ will handle leasing and management of the properties. Joe Platt and Alex Hilton of Grandbridge Real Estate Capital will arrange debt placement on behalf of the buyer.

February 5, 2018

Georgia Industrial Southeast

Flooring Retailer Opens 1.4 MSF Distribution Center Near Port of Savannah

by Camren Skelton February 5, 2018

BLOOMINGDALE, GA. — Atlanta-based flooring retailer Floor & Decor has opened a 1.4 million-square-foot distribution center in Bloomingdale, roughly 15 miles west of Savannah. The facility is located within Morgan Business Center, a 250-acre industrial park located near the intersection of Interstates 16 and 95. The center is roughly 11 miles from the Port of Savannah. The retailer will use the facility to store and distribute merchandise to stores across the eastern U.S. Duke Realty developed the project and CBRE handled the center’s leasing assignment. The new facility brings an additional 30 jobs to the Savannah area.

February 5, 2018

Illinois Industrial Midwest

Brown Commercial Negotiates Sale of 126,537 SF Industrial Facility in Elk Grove Village, Illinois

by Kristin Harlow February 5, 2018

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has negotiated the sale of a 126,537-square-foot industrial facility in Elk Grove Village for an undisclosed price. The 4.2-acre property is located at 2001 Arthur Ave. The buyer, Seefried Industrial Properties Inc., plans to build an 80,000-square-foot warehouse to replace the existing building. Mike Antonelli and Mason Hezner of Brown Commercial represented the seller, Spirit Realty Capital, in the transaction. Jonathan Kohn of Colliers International represented Seefried.

February 5, 2018

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