Industrial

Duke Realty Acquires 772,500 SF Industrial Property Near Port Houston

by Taylor Williams December 21, 2017

PASADENA, TEXAS — Duke Realty Corp. has acquired Bayport Distribution Center II, a two-building, 772,500-square-foot industrial property located near Port Houston in Pasadena. The Class A property was built in 2008 and consists of one 600,000-square-foot building and one 172,500-square-foot building that are fully leased to three tenants. The property features clear heights ranging from 24 to 30 feet and a total of 157 dock-high doors and eight drive-in ramps. Trent Agnew, Rusty Hamlyn and Dane Petersen of HFF represented the seller, a partnership between Mountain West Industrial Properties and an undisclosed institutional investor, in the sale.

December 21, 2017

EnSync Signs 42,600 SF Industrial Lease in Menomonee Falls, Wisconsin

by Kristin Harlow December 21, 2017

MENOMONEE FALLS, WIS. — EnSync Inc. has signed a 42,600-square-foot industrial lease in Menomonee Falls, 20 miles northwest of Milwaukee. The energy company will occupy the space at 13901 Main St. Samuel D. Dickman, Samuel M. Dickman Jr., Nick Keys and Cale Berg of the Dickman Co. Inc./CORFAC International brokered the transaction. 13901 Leasing Co. LLP is the property landlord.

December 21, 2017

Industrial Texas

HFF Arranges Sale of 301,500 SF Industrial Facility in Fort Worth

by Taylor Williams December 20, 2017

FORT WORTH, TEXAS — HFF has arranged the sale of Riverbend West Distribution Center, a 301,500-square-foot, Class A industrial facility in Fort Worth. Completed in 2016, the cross-dock facility features 32-foot clear heights, LED warehouse lighting, 76 overhead dock doors and four drive-in doors. Hunt Southwest Real Estate Development sold the property, which was 86 percent leased to Ecolab and PODS at the time of sale, to Pure Industrial Real Estate Trust for an undisclosed price. Adam Herrin and Stephen Bailey of HFF led the investment advisory team.

December 20, 2017

Data Centers Georgia Industrial Southeast

CyrusOne to Enter Metro Atlanta Market with $206M Data Center Campus

by Camren Skelton December 20, 2017

DOUGLASVILLE, GA. — CyrusOne, a Dallas-based global data center REIT, has unveiled plans to expand into the Atlanta-area market with a 44-acre campus in Douglasville. The $206 million project will be located near the home of Google’s 2 million-square-foot server farm, according to the Atlanta Business Chronicle. At full build-out, the project will include three data centers totaling 440,000 square feet, and 50 megawatts of critical power. Construction is scheduled to begin in the first quarter of 2018, with completion of the first building slated for the summer of 2018. CyrusOne’s Atlanta centers will have access to multiple cloud providers and will be linked to the CyrusOne National Internet Exchange, which delivers interconnection between other CyrusOne locations across the country. The company currently operates 44 data center facilities across the United States, Europe and Asia.

December 20, 2017

Industrial North Carolina Southeast

McCraney Acquires Land Near Charlotte Airport to Develop 610,700 SF Industrial Asset

by Camren Skelton December 20, 2017

CHARLOTTE, N.C. — McCraney Property Co. has acquired a 54-acre land parcel in Charlotte for the development of a 610,700-square-foot speculative industrial project. Dubbed Airport South Business Park, the property will be located near the intersection of Billy Graham Parkway and West Boulevard, less than one mile from Charlotte Douglas International Airport. Upon completion, the development will include five Class A industrial buildings. Warren Snowdon and David Hanna of Foundry Commercial arranged the land acquisition on behalf of McCraney Property Co. The project is part of the developer’s more than 2 million-square-foot industrial pipeline currently under development or planned throughout the Southeast.

December 20, 2017

Industrial Market Reports New Hampshire Northeast Northeast Market Reports

Southern New Hampshire Industrial Overview

by Taylor Williams December 20, 2017

With a statewide unemployment rate of 2.7 percent, New Hampshire has one of the lowest unemployment rates in the nation, and is well below the national unemployment rate of 4.4 percent. The New Hampshire labor market has continued to tighten, with unemployment having dropped 0.2 percentage points since third quarter of last year. Employment gains have not been seen in two traditionally industrial sectors: trade, transportation & utilities or manufacturing. Employment in these sectors has remained relatively flat year-over-year, at -0.4 percent and 0.6 percent growth respectively. Year-to-date industrial absorption was pushed up to 623,485 square feet by continued positive absorption in the third quarter. The three largest submarkets — Nashua, Manchester, and Portsmouth —made up the majority of that absorption, while two of the smaller submarkets — Concord and Bedford — are the only ones experiencing negative year-to-date absorption. The largest new lease of the fourth quarter of 2017 was Bensonwood Woodworking’s lease of more than 100,000 square feet of space at 25 Production Avenue in Keene. The space will be used mainly for manufacturing purposes. On the capital markets front, the largest transaction of the quarter was the purchase of 55 and 85 Mechanic Street, a 119,000-square-foot multi-tenant …

December 20, 2017

First-Logistics-Center-I-78-81-Lebanon-County-PA

Industrial Northeast Pennsylvania

First Industrial Realty Trust to Develop 738,720 SF Distribution Center in Central Pennsylvania

by Amy Works December 19, 2017

LEBANON COUNTY, PA. — First Industrial Realty Trust is developing First Logistics Center @ I-78/81 in Lebanon County in Central Pennsylvania. The company has commenced site work and development for a 738,720-square-foot distribution center. Slated for completion in the fourth quarter of 2018, the distribution center will feature 40-foot clear heights, 185-foot truck courts, 135 dock-high door positions, four drive-in doors, 246 trailer stalls, 289 auto stalls, ESFR sprinklers and LED lighting. The total investment for the distribution center is estimated at $49 million. The site plan for the industrial park includes 12 acres of land on which the company is readying a pad for the future construction of a 250,000-square-foot facility. The project team includes Blue Rock Construction as general contractor and Joseph V. Belluccia as architect. Patrick Lafferty, Michael Hess, Bart Anderson and Fred Ragsdale II of CBRE have been retained to lease the project.

December 19, 2017

Industrial Loans Texas

JLL Secures $65M in Development Financing for 3 MSF Industrial Project in Metro Houston

by Taylor Williams December 19, 2017

BAYTOWN, TEXAS — JLL has secured $65 million in financing for the development of the first phase of Port 10 Logistics Center, an industrial project in Baytown that upon completion will span more than 3 million square feet across eight buildings. The first phase of the project, which is scheduled for a third-quarter 2018 completion, will deliver four buildings situated on a 100-acre site totaling 992,669 square feet. First Tennessee Bank provided the first lien while Nationwide Mutual Insurance provided mezzanine financing. Paul House, James Brolan and Jonathan Paine of JLL led the financing effort.

December 19, 2017

Industrial North Carolina Southeast

Foundry Commercial, PGIM to Deliver 700,000 SF Industrial Project in Metro Charlotte

by Camren Skelton December 19, 2017

HUNTERSVILLE, N.C. — Foundry Commercial, in a joint venture with PGIM Real Estate, has acquired 48 acres of land in Huntersville for the development of Bryton Commerce Center, a 700,000-square-foot light industrial project. The development will be located within Bryton Town Center, a 425-acre mixed-use campus located roughly 15 miles north of Charlotte. The six-building project will deliver in two phases. Construction on the first phase will begin in early 2018 and is expected to complete by the end of the year. Bryton Commerce Center will feature 30-foot clear heights, tilt-wall construction, ESFR sprinkler systems, glass-heavy exteriors and high parking ratios. In addition to industrial space, the Bryton Town Center master plan will include more than 1 million square feet of retail space and 1 million square feet of office space, as well as multifamily and single-family residential units.

December 19, 2017

Industrial South Carolina Southeast

CBRE Arranges $5.4M Sale of Industrial Property in Upstate South Carolina

by Camren Skelton December 19, 2017

FOUNTAIN INN, S.C. — CBRE has arranged the $5.4 million sale of 110 Milacron Drive, a 182,534-square-foot industrial facility in Fountain Inn, a suburb of Greenville. Campbell Lewis of CBRE arranged the transaction on behalf of the buyer, 844 S.E. Main LLC. CBRE’s Marcus Cornelius and Nick Hollstegge represented the undisclosed seller. Constructed in 1980, the facility features 28-foot clear heights, motion-activated T-8 lighting in the warehouse, eight dock-high doors, 130 parking spaces and 26,941 square feet of office space. The new owner plans to improve the facility’s exterior and interior features, as well as parking and truck court surfaces.

December 19, 2017

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