Industrial

Mohr Capital, Panattoni to Deliver 1 MSF Warehouse for Cooper Tire in Mississippi

by Camren Skelton February 8, 2018

MARSHALL COUNTY, MISS. — Mohr Capital, in conjunction with Panattoni Development Co., is underway on a 1 million-square-foot industrial warehouse for Cooper Tire & Rubber Co. in Marshall County, a Mississippi county within the Memphis MSA. The Findlay, Ohio-based company specializes in the design, manufacturing, marketing and sale of passenger car, truck, motorcycle and racing tires. Alston Construction is the general contractor for the project, and Pickering Firm Inc. is the architect. The new building, located within Panattoni’s Gateway Global Logistics Center, will be used to distribute Cooper Tire’s products directly to customers and supply its regional distribution centers. Gary Horn of Mohr Capital and Preston Thomas of Colliers International represented Cooper Tire in the lease negotiations, and Jim Mercer of CBRE represented Panattoni. The project represents a $50.5 million investment, according to local media reports. An affiliate of Gramercy Property Trust has acquired the land, is funding the development and will own the asset upon completion. The facility is slated for completion this fall and will become Cooper Tire’s largest distribution center in the United States.

February 8, 2018

Industrial Texas

HFF Arranges Capitalization of 1.4 MSF Industrial Project Within DFW Airport

by Taylor Williams February 8, 2018

IRVING, TEXAS — HFF has arranged the capitalization of Gateway Logistics Center, a five-building, 1.4 million-square-foot industrial project underway within Dallas-Fort Worth (DFW) International Airport in Irving. The site is part of the 600-acre Passport Park mixed-use project that is also being developed at the southern end of the airport. Joe Thornton and Adam Herrin of HFF arranged a joint equity partnership between Dallas-based developer Bandera Ventures and Boston-based private equity firm Long Wharf Capital for the project. Thornton and Herrin also secured an undisclosed amount of construction financing from Bank of the Ozarks. Three of the buildings will range in size from 250,000 to 380,000 square feet and feature cross-dock configurations and 32- to 36-foot clear heights. The other two buildings will measure 200,000 to 250,000 square feet and feature rear-load configurations and 28- to 32-foot clear heights. Dallas-based FA Peinado will serve as general contractor. Delivery of the buildings is expected to begin this fall.

February 8, 2018

Industrial Texas

Sealy Acquires 262,631 SF Industrial Park in Northwest Houston

by Taylor Williams February 8, 2018

HOUSTON — Sealy & Co., an investment firm with offices in Atlanta and Houston, has acquired Sam Houston Business Park, a 262,631-square-foot industrial development in northwest Houston. Developed by Levey Group, the four-building, Class A property fronts the Sam Houston Tollway and offers direct access to Interstates 10 and 45, as well as U.S. Highway 290. The property was 100 percent leased at the time of sale.

February 8, 2018

Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 408-Unit Self-Storage Facility in College Station

by Taylor Williams February 8, 2018

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Brazos Moving and Storage, a new 408-unit self-storage facility located at 10999 State Highway 30 in College Station. Construction of the property was completed in January and comprises 60,550 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability firms.

February 8, 2018

Industrial New York Northeast

Marcus & Millichap Arranges $3.2M Sale of Industrial Property in Mount Vernon, New York

by Amy Works February 8, 2018

MOUNT VERNON, N.Y. — Marcus & Millichap has brokered the sale of an industrial property located at 888 S. Columbus Ave. in Mount Vernon. A private investor sold the property for $3.2 million. The property features 39,000 square feet of industrial space. John Sala of Marcus & Millichap represented the seller in the transaction.

February 8, 2018

Industrial Massachusetts Northeast

Kelleher & Sadowsky Facilitates Sale of 19,892 SF Industrial Building in Worcester, Massachusetts

by Amy Works February 8, 2018

WORCESTER, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial building located at 100-104 Lamartine St. in Worcester. Accelerated Energy Inc. acquired the 19,892-square-foot property for an undisclosed price. The buyer provides energy savings solutions and services. Will Kelleher, Mark Johns and David Cohen of Kelleher & Sadowsky brokered the transaction. The name of the seller was not released.

February 8, 2018

Illinois Industrial Midwest

Hilco Redevelopment Partners Acquires Former Power Plant, Plans $100M Industrial Development

by Kristin Harlow February 8, 2018

CHICAGO — Hilco Redevelopment Partners, a unit of Hilco Global, has acquired the Crawford Power Generating Station site in Chicago’s Little Village neighborhood for an undisclosed price. NRG Energy sold the site, which had previously operated as a coal-fired power plant beginning in the late 1920s before being decommissioned in 2012. Hilco plans to demolish the facility and replace it with up to 1 million square feet of warehouse space as part of a $100 million project, according to the Chicago Tribune. Remediation work is slated to begin soon and may take anywhere from 14 to 24 months, depending on site conditions.

February 8, 2018

Industrial Midwest Wisconsin

Meridian Begins Construction of 307,850 SF Industrial Building in Mount Pleasant, Wisconsin

by Kristin Harlow February 8, 2018

MOUNT PLEASANT, WIS. — Meridian Design Build has started construction on a 307,850-square-foot speculative industrial building in Mount Pleasant in southeast Wisconsin. The facility will feature a clear height of 32 feet, 40 loading docks, four drive-in doors, 242 auto parking spaces and 94 trailer stalls. The building will be able to accommodate up to six tenants. Land and Lakes Development is the project developer. Partners in Design is providing architectural services while Pinnacle Engineering is completing civil engineering work. A timeline for construction was not disclosed. This is the second project Meridian has constructed within the 60-acre Mount Pleasant Business Park. Land and Lakes Development sold the first building, which is leased to Goodwill Industries, to Zilber Property Group last year.

February 8, 2018

Illinois Industrial Midwest

JLL Arranges Sale of 117,000 SF Industrial Facility in Lake Zurich, Illinois

by Kristin Harlow February 8, 2018

LAKE ZURICH, ILL. — JLL has arranged the sale of a 117,000-square-foot industrial facility in Lake Zurich, about 40 miles northwest of Chicago. The sales price was not disclosed. The facility is located on a 9.9-acre site at 800 N. Church St. The property features a clear height of 24 feet, 275 auto parking spaces, eight docks, fully air-conditioned warehouse space and 19,000 square feet of office space. Steve Trapp and Steve Steinmeyer represented the buyer, an affiliated entity of Midwest Industrial Funds (MIF). Nick Panarese of Van Vlissingen and Co. represented the undisclosed seller. The deal comes just months after MIF announced that the company had raised a new real estate investment fund, MIF Value Fund II LP, to purchase over $150 million of industrial properties over the next few years, according to JLL.

February 8, 2018

Industrial Northeast Office Pennsylvania

Colliers Brokers $36M Sale of Five-Property Portfolio in Philadelphia

by Amy Works February 7, 2018

PHILADELPHIA — Colliers International/Philadelphia has arranged the sale of a five-property portfolio of office and industrial buildings located in the East Callowhill section of Philadelphia. Arts & Crafts Holdings purchased the portfolio for $36 million. Totaling more than 195,000 square feet, the portfolio includes 444 N. Third and 309-15 Callowhill Streets; 437-461 N. Third Street; 827 Spring Garden Street; 854-56 N. Third Street and 302-308 Poplar Street; and 600 Spring Garden Street. Michael Barmash and Michael Kahan of Colliers International/Philadelphia arranged the transaction. The properties were part of the Willow Management Corp.’s family-owned portfolio of industrial and office buildings.

February 7, 2018

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