Industrial

CBRE Brokers Sale of 491,025 SF Distribution Center in Charlotte

by Camren Skelton February 2, 2018

CHARLOTTE, N.C. — CBRE Capital Markets has arranged the sale of a 491,025-square-foot distribution center located at 10701 Nations Ford Road in Charlotte. The building is situated at the intersection of Interstates 77 and 485, roughly 13 miles south of Charlotte Douglas International Airport. Patrick Gildea, Anne Johnson, Bryan Crutcher and Matt Smith of CBRE arranged the transaction on behalf of the seller, an affiliate of Boston-based STAG Industrial Inc. Other terms of the deal and the buyer were not disclosed. Constructed in 1975 and renovated in 1999, the facility features 20- and 30-foot clear heights, 74 dock-high doors, three drive-in doors, trailer parking, office space and an ESFR sprinkler system.

February 2, 2018

Industrial Massachusetts Northeast

JLL Arranges $21.7M Sale of Distribution Center in Peabody, Massachusetts

by Amy Works February 1, 2018

PEABODY, MASS. — JLL has brokered the sale of a distribution center located at 1 Technology Drive in Peabody. Normandy Real Estate Partners sold the property to a partnership between AEW and Griffith Properties for $21.7 million. With access to Route 128 and Route 1, the property features 186,591 square feet of distribution and freezer space. Frank Pets and George Gregory of JLL represented the seller in the transaction.

February 1, 2018

Industrial New Jersey Northeast

NAI Hanson Negotiates 1031 Exchange Sale of Two Flex Buildings in Saddle Brook, New Jersey

by Amy Works February 1, 2018

SADDLE BROOK, N.J. — NAI James E. Hanson has brokered the sale of two industrial/flex buildings located in Saddle Brook in a 1031 exchange. The properties are a 10,200-square-foot building at 431 N. Midland Ave., which features 3,300 square feet of office space, 4,700 square feet of high-tech space and 2,200 square feet of warehouse space; and a 24,000-square-foot building at 435 N. Midland Ave., which features 4,000 square feet of office space, two tailgate loading docks and 14-foot ceilings. Anthony Cassano of NAI Hanson represented the undisclosed seller, while Kenneth Lundberg and Patrick Lennon, also of NAI Hanson, represented the undisclosed buyer in the transaction.

February 1, 2018

Industrial South Carolina Southeast

SunCap Acquires 236,800 SF Industrial Building in Greenville

by Camren Skelton February 1, 2018

GREENVILLE, S.C. — SunCap Property Group has acquired Forrester Park, a three-building, 236,800-square-foot distribution and light-manufacturing center located at 201 Forrester Drive in Greenville. Other terms of the deal were not disclosed. The building is located one mile from Interstate 85 and adjacent to Millennium Park and the Clemson University International Center for Automotive Research (ICAR). At the time of sale, Forrester Park was fully leased to tenants including Gexpro Services, Safelite Auto Glass, Woodward, Trust Technologies and Aerodyne Alloys. Colliers International’s Greenville office will handle the property’s leasing assignment on behalf of SunCap.

February 1, 2018

Arizona Industrial Western

Footprint Relocates Corporate Headquarters to Park Lucero in Gilbert

by Nellie Day January 31, 2018

GILBERT, ARIZ. — Footprint LLC has relocated its corporate headquarters to Park Lucero Phase II, a 131,796-square-foot, speculative industrial building in Gilbert. The building is situated on 48 acres at the northwest corner of Mustang Drive and Germann Road near the Gilbert/Chandler border. Park Lucero is a four-phase, Class A industrial park featuring a combination of buildings with dock-high, truck well and grade-level loading, 24- to 30-foot ceiling clear heights and an overall 2.1:1,000 parking ratio. Upon full buildout, Park Lucero will consist of nearly 600,000 square feet of industrial space in six buildings. Phase II is situated adjacent to Phase I, which was completed in 2015, and Phase III, completed this past summer. Phase II fronts the Santan Freeway (Loop 202), providing significant freeway visibility. Paul Gallo of First US Advisors represented Footprint, a sustainable technology firm. JLL’s Pat Harlan and Steve Sayre represented the landlords, Trammell Crow Co. and Artis REIT, in this transaction. Western Alliance Bank served as the lender.

January 31, 2018

Illinois Industrial Midwest

CBRE Fund Acquires 1.4 MSF Industrial Portfolio in Chicago Area

by Kristin Harlow January 31, 2018

CHICAGO — CBRE Strategic Partners US Value 8 has acquired a six-building industrial portfolio totaling over 1.4 million square feet in the Chicago area. The purchase price was not disclosed. The portfolio is 95 percent leased to six tenants. The properties include: 2700 Ellis Road in Joliet; 2101 W. Haven Road in New Lenox; 2201 W. Haven Road in New Lenox; 2200 W. Haven Road in New Lenox; 2520 Diehl Road in Aurora; and 494 E. Lies Road in Carol Stream. The buildings range in size from 90,000 to 690,000 square feet and feature clear heights of 24 to 32 feet.

January 31, 2018

Industrial Midwest Ohio

Hillwood Purchases 1 MSF Distribution Center in Columbus, Ohio

by Kristin Harlow January 31, 2018

COLUMBUS, OHIO — Hillwood, a Perot company, has purchased TradePort I in Columbus for an undisclosed price. The 1 million-square-foot distribution center, located on 78 acres at 3780 TradePort Court, is expected to be completed soon. The building features a clear height of 36 feet, 185-foot truck courts, 102 dock doors, 400 car parks, 232 trailer spaces, LED lighting and ESFR sprinklers. The site also includes additional acreage for up to 209,188 square feet of building expansion or trailer parking. Hillwood also owns a 450,000-square-foot industrial building in the Groveport area.

January 31, 2018

Industrial New York Northeast

Goldman Sachs, DH to Develop Three-Story Warehouse, Distribution Center in Brooklyn

by Amy Works January 30, 2018

NEW YORK CITY — A joint venture between Goldman Sachs Asset Management Private Real Estate (GSAM PRE) and DH Property Holdings plans to develop a three-story warehouse and distribution center located at 640 Columbia St. on the Red Hook waterfront in Brooklyn. The 370,000-square-foot facility will be one of the first industrial buildings in North America to feature multi-level distribution and warehousing. Designed by Ware Malcomb, the facility will feature Class A industrial specs, including 130-foot truck courts that can accommodate full-size tractor trailers on both the ground and second levels. The multi-level loading facility will also include 28-foot ceiling heights, 33 loading doors and an attached parking deck. Hollister Construction Services is the construction manager for the project.

January 30, 2018

Industrial Kansas Midwest

Kessinger/Hunter to Develop 567,115 SF Industrial Warehouse in Olathe, Kansas

by Kristin Harlow January 30, 2018

OLATHE, KAN. — Kessinger/Hunter & Co. is developing its third speculative industrial building within the I-35 Logistics Park in Olathe. The 567,115-square-foot industrial warehouse, known as Building C, will be located directly to the east of the existing 821,663-square-foot Building B. KGPCo, a provider of supply chain and network transformation solutions for the communications industry, has pre-leased 251,873 square feet of space at Building C. Tom Walrich of Lee & Associates represented KGPCo in the lease transaction. Bentall Kennedy advised ownership and has been retained as the asset manager of the new building, as well as Building B and remaining development sites. Completion of Building C is slated for the end of 2018. The project team includes Merit General Contractors, Bozich Architects, TranSystems and BSE Structural Engineers.

January 30, 2018

California Industrial Loans Western

NorthMarq Arranges $47.8M in Bridge Financing for Warehouse Repositioning in California

by Nellie Day January 30, 2018

SANTA ANA, CALIF. — NorthMarq has arranged $47.8 million in bridge financing for a 414,309-square-foot vacant warehouse in Santa Ana. The warehouse is located at 515 E. Dyer Road. Hines acquired the property in December 2017. The firm plans to renovate and reposition the vacant warehouse into a last-mile distribution center. The property was formerly a manufacturing and distribution facility. It features 22-foot clear heights, 120-foot truck turning clearance, an office pod, and access to the 55, 5 and 405 freeways. The loan represents 65 percent of total project cost with a five-year term. NorthMarq shopped the non-recourse loan to both banks and debt funds, but the final lender was not disclosed. Mike Elmore, Joe Giordani and John Marshall led the NorthMarq team.

January 30, 2018

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