LAS VEGAS — Burke Construction Group has completed construction on an expanded warehouse facility for the Frito Lay Las Vegas Distribution Center. The center is located at 1209 Trade Drive. The 30,000-square-foot addition will allow Frito Lay to expand its existing warehouse facility. The space was built directly adjacent to the active warehouse, creating one common warehouse space. William E. Franz designed the property. Burke built the space on behalf of Con-Real LP.
AUSTIN, TEXAS — Adler Kawa Real Estate Advisors has acquired five single-story industrial buildings known as Kramer 1-5 at Braker Center in Austin. The buildings total 296,781 square feet and feature 21-foot clear heights and floor plans that accommodate office, warehouse, production and showroom space. Hale Umstattd and Leah Gallagher of Transwestern represented the undisclosed seller in the transaction. Davis Bass of HPI Real Estate Services & Investments will remain in charge of leasing. PNC Bank provided financing for the acquisition.
HOUSTON — Armstrong Medical Supply LLC has leased 9,600 square feet within Racepark Center at 6818 N. Sam Houston Parkway West in Houston. Lee & Associates’ Thomas Leger and Mike Spears represented the landlord, Turnaround Properties LLC. Richard Frye of Adkisson Group Inc. represented the tenant.
DALLAS — CBRE Capital Markets’ Debt & Structured Finance team has arranged $32.1 million in financing for the acquisition of a portfolio of industrial properties in Dallas. The buyer of the portfolio, known as Riverbend, is a joint venture between Augustus Investment Holdings and Taurus Investment Holdings. Citizens Bank provided the capital. The acquisition includes 15 buildings totaling 962,000 square feet. The portfolio was 95 percent leased at the time of sale. The specific properties in the portfolio were not named. Scott Lewis and Greg Greene with CBRE’s Dallas office originated and secured the financing.
AUSTIN, TEXAS — Trammell Crow Co. (TCC) and Clarion Partners, on behalf of a comingled fund, have acquired a 95-acre site for the development of Park 183, a master-planned industrial business park. The 964,000-square-foot project, located at the intersection of Burleson Road and U.S. Route 183 in Austin, will be developed in multiple phases. Phase I will consist of the speculative development of two buildings totaling 247,000 square feet and significant road, drainage and utility infrastructure for the industrial park. Construction is expected to begin in January 2017. The design team for Park 183 includes STG Design, Jones|Carter, Wylie Consulting Engineers and Bihner Chin Engineering Ltd. Leasing and marketing will be handled by Mark Emerick, John Barksdale, Ace Schlameus and Darryl Dadon of CBRE.
BLACKWOOD, N.J. — G.S. Wilcox & Co. has arranged a $7 million loan for a six-building industrial-flex park in Blackwood. The loan is fixed for a seven-year term with a 25-year amortization. The 240,000-square-foot property is nearly 95 percent leased to more than 30 tenants. The financing was provided by Southern Farm Bureau Life Insurance Co. for the undisclosed borrower.
ROCHESTER HILLS, MICH. — Bader USA has acquired an industrial building located at 2944 Waterview Drive in Rochester Hills. Bader will use the 12,000-square-foot high-tech facility to house its North American sales, technical support and research and development operations. Garry Rogers and Al Iafrate of L. Mason Capitani CORFAC International represented the buyer in the deal. The name of the seller and the sales price were not released.
AUBURN AND FORT WAYNE, IND. — Bradley Company Commercial Real Estate has completed five transactions in Auburn and Fort Wayne. In the first transaction, Carl Diehm of Bradley represented the landlord, Cenway Center, and the tenant, Agri-Labs Inc., in the lease of 2,160 square feet of retail space at 915 Cardinal Court within Cenway Business Center in Auburn. In the second deal, Tyler Binkley of Bradley represented the Feuser Contracting Inc. in the sale of an 11,992-square-foot office building at 7702 Bluffton Road in Fort Wayne. The name of the buyer and acquisition price were not released. In the third transaction, Stanley Phillips and Kelly Castle of Bradley represented the landlord, RITS Ltd. Brokers in the lease negotiation of retail space at 6127 Stellhorn Road within Maplewood Plaza in Fort Wayne. The name of the tenant and lease size were not released. In the fourth deal, Phillips represented the landlord, Fort Wayne Associates, and Binkley represented the tenant, Phil’s Hobby Shop, in the lease of retail space located within Parkwest Center at 3938 W. Jefferson Road in Fort Wayne. In the last deal, Paul Refakis of Bradley represented the landlord, Lynn Leasing, and Kienan O’Rourke of Bradley represented the tenant, Blasius …
The Phoenix industrial market is thriving, despite more than 5.6 million square feet of new construction set to deliver this year. There is enough demand in this market to keep the average vacancy rate at a near eight-year low of 9.7 percent, while absorption is on pace to exceed 6 million square feet for the third year in a row. Tenants have more choices than ever thanks to all this new inventory. Many are making a flight to quality, upgrading to next-generation space featuring wide column spacing and clear heights of up to 36 feet. This is particularly valuable in the West Valley, where large, efficiency-focused, third-party logistics firms and e-commerce companies must maximize how they manage vast amounts of product. Some of these needs are so specific that corporations have opted to custom build, as is the case with the recently completed 400,000-square-foot REI distribution center and the 384,377-square-foot IRIS USA facility, both situated in Surprise. These projects rank as the Valley’s two largest owner-builder completions of the year and have propelled the Northwest submarket — the third smallest industrial submarket in metro Phoenix — into the “hot” category. Meanwhile, owners and builders have gotten more creative in centralized …
NORWOOD, MASS. — DPS and TRIA have been selected by Moderna Therapeutics to provide architectural, engineering and project management services for a $110 million, 200,000-square-foot clinical manufacturing facility in Norwood. DPS will provide full architectural and engineering design for the facility, as well as construction management oversight, commissioning, qualification, and validation and procurement services. TRIA will design the facility’s clinical labs, offices, employee facilities and a conference center. Construction of the new facility is slated to begin in October, with completion scheduled for early 2018. Moderna Therapeutics is a clinical stage biotechnology company pioneering mRNA therapeutics to create a new generation of transformative medicines for patients.
