TOLEDO, OHIO — Reichle Klein Group has negotiated the sale of a 26,560-square-foot industrial flex building in Toledo for $1 million. The property sits on 2.7 acres at 7319 W. Central Ave. The building was formerly home to Star Door & Sash Co. Robert Hawkins of Reichle Klein Group represented the seller, 7319 West Central LLC. Jason Westendorf of Reichle Klein Group represented the undisclosed buyer.
JESSUP AND WILKES-BARRE, PA. — Cushman & Wakefield has arranged the sale of a three-building industrial portfolio located in Jessup and Wilkes-Barre. Endurance Real Estate Group sold the 544,974-square-foot portfolio to NorthPoint Development for an undisclosed price. The buildings are located at 7 and 17 Alberigi Drive in Jessup and 32 Earth Conservancy Drive in Wilkes-Barre. Originally developed as part of a joint venture partnership between MetLife and Chicago-based Versus Development, the buildings feature 30-foot clear height ceilings, T-5 light and the potential to expand car and trailer parking, as well as loading positions. Gerard Blinebury, Gary Gabriel, Jeffrey Williams and Daniel Walsh of Cushman & Wakefield represented the seller in the deal.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 250,000-square-foot industrial lease at 2900 Meacham Blvd. in Fort Worth on behalf of Woods Distribution Solutions, a Fort Worth-based industrial logistics firm. Built in 1991, the cross-dock property offers 24-foot clear heights, an ESFR sprinkler system and 6,000 square feet of office space. Becky Thompson of Lee & Associates represented the tenant and the landlord, 2900 Meacham LLC, in the lease negotiations.
INDIANAPOLIS — A joint venture between PCCP and Strategic Capital Partners LLC (SCP) is developing two industrial buildings at Metro Air Business Park in Indianapolis. Buildings Two and Six will total 500,000 square feet. The $27 million development is slated for completion in the second quarter of 2018. SCP began developing the business park in 2006. The property will total more than 1.2 million square feet upon completion. Current tenants include DJ Ortho, Rolls Royce, Fiserv Solutions, Expeditors International, TRICOR Braun and Hiab USA. SCP acquired the property, located less than one mile from the Indianapolis International Airport, from the Indianapolis Airport Authority.
KANSAS CITY, MO. — Lanter Distributing LLC has signed a 126,000-square-foot industrial lease to consolidate its regional operations into a single warehouse at SubTropolis in Kansas City. The provider of freight consolidation, pool distribution and less-than-truckload deliveries for food, pharmaceutical and health and beauty manufacturers initially leased 21,000 square feet at the underground business complex in 2012. Eight 3PL companies have located in SubTropolis to date, including Advanced Logistics Fulfillment, American Central Transport, FW Warehousing, Ground Freight Expeditors, Hallmark Cards, Paris Brothers and Rossi Motor Freight. Hunt Midwest owns the 6 million-square-foot property.
Louisville has a lot going for it when it comes to logistics. In addition to its prime location on the Ohio River, the city benefits from three major interstates running through it: Interstates 64, 65 and 71. I-65 is considered a Tier 1 Corridor due to the high volume of trucks that travel over this route, connecting Chicago and Indianapolis through Louisville to the Southern states. Louisville’s location also allows companies to reach 60 percent of the country’s population within a 12-hour drive. Perhaps most importantly, Louisville is home to UPS Worldport, the largest automated package handling facility in the world, and the center point of UPS’s worldwide air network. More than 300 flights arrive and depart daily, and the hub processes roughly two million packages a day and more than 4 million during peak holiday shipping season. E-commerce lives here and UPS offers customers the ability to drop shipments at Worldport much later in the day, compared to other cities, while still providing next morning/day delivery. Louisville is not only a great logistics hub, it has a strong manufacturing base. Louisville is home to GE Appliance Park and two Ford Plants: Louisville Assembly Plant and Kentucky Truck Plant. Louisville …
COLUMBUS, OHIO — PCCP and The Pizzuti Cos. have formed a joint venture to develop Rickenbacker West I in Columbus. The 802,390-square-foot speculative industrial building will feature 36-foot clear heights. Project construction has begun and completion is slated for summer 2018. The property will be situated on 50 acres within the Creekside Industrial Center in the Rickenbacker Global Logistics Park. The Rickenbacker International Airport is located just south of the property.
JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth project four years ago, Alcon has expanded the size of its manufacturing facility by 70,000 square feet. The multi-year project will expand the company’s production capacity for DAILIES TOTAL1 contact lenses.
ST. LOUIS — Fairlane Industry Inc. has signed a 91,000-square-foot industrial lease renewal in St. Louis. The property is located at 5033 Southwest Ave. The gasket manufacturer plans to consolidate its other two St. Louis locations into the Southwest Avenue property. H. Meade Summers III of Hilliker Corp. represented the landlord, Van Velzer LLC, in the lease transaction. Ray Ragland, owner of Fairlane Industry, leased the property.
DENTON, TEXAS — Mohr Capital has sold ESAB North American Center, a 422,819-square-foot industrial building located on 30.1 acres at 2800 Airport Road in Denton. Built in two phases in 1970 and 2016, the property is fully leased to ESAB, an equipment and filler metal manufacturer. The asset is situated near the intersection of Interstates 35 East and 35 West in the Northwest Dallas industrial submarket. It features 18- and 36-foot clear heights, 19 dock-high doors, one drive-in door and 200-foot truck courts. New Mountain Net Lease Corp. purchased ESAB North American Center from Mohr Capital for an undisclosed price. Adam Herrin, Stephen Bailey, Mark West and Coler Yoakam of HFF represented Mohr Capital in the transaction. Brandon Chavoya and Michael George of HFF arranged a five-year, fixed-rate acquisition loan through KeyBank Real Estate Capital on behalf of New Mountain Net Lease.
