AUSTIN, TEXAS — St. Clair Commercial Realty (SCCR) has purchased seven industrial buildings totaling 211,000 square feet on Techni Center Drive in Austin. While all buildings are located on separate parcels and vary in size from 3,600 to 36,000 square feet, the firm intends to collectively rebrand them as the “Techni Center Business Park.” Ryan Wilson and Matt Fain of Equitable Commercial Realty procured the sale for SCCR and have been retained to handle leasing as well.
MONROE, N.J. — Cushman & Wakefield has arranged the sale of an industrial building located at 26 Englehard Drive in Monroe. A Boston-based advisor acquired the 324,540-square-foot property from Principal Real Estate Investors for an undisclosed price. The property features 45- by 50-foot column spacing, 170-foot truck courts, 48 loading positions and rail line service by Conrail. Gary Gabriel, David Bernhaut, Andrew Merin, Kyle Schmidt, Brian Whitmer, Jules Nissim and Jason Goldman of Cushman & Wakefield represented the seller in the deal.
CHICAGO — Premier Design + Build Group LLC has been selected to construct a 40,750-square-foot distribution facility in Chicago’s Portage Park neighborhood. Dayton Street Partners and WBS Equities are the project developers. The speculative facility will sit on 1.6 acres at 4150 N. Knox Ave., a few miles south of O’Hare International Airport. The warehouse will feature 30-foot clear heights, two parking lots and four covered dock positions. Chris Kiziak of Premier Design + Build is the project manager and Scott Lebak is the field superintendent. Kimley-Horn will provide engineering services, while Cornerstone Architects Ltd. is providing architectural services. Mike Senner and Steve Kohn of Colliers International are handling the leasing.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of an 11,400-square-foot industrial building in Milwaukee. The building is located at 2330 W. Clyburn Ave. The buyers, Evan Hughes and William P. McQuillan, purchased the building from 6211 Church Road Property LP. TJ Huenerbein of the Dickman Co. represented the buyers.
LAS VEGAS — Alston Construction has completed a 68,875-square-foot, built-to-suit facility for 3G Productions in Las Vegas. The new facility is located on 5.4 acres at the corner of Euclid Avenue and Russell Road. The firm completed a 51,400-square-foot concrete tilt up building with a 16,875-square-foot steel/concrete deck mezzanine to be used in the future by the owner. PFIILP Eastern Russell 70 LLC owns the $9 million project. 3G Production will offer the facility as a corporate event venue.
EASTCHESTER, TUCKAHOE AND GREENBURGH, N.Y. — Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has arranged an $8.9 million permanent loan secured by three properties in Westchester County, N.Y. The borrower is a long-term owner of the properties, which include a retail strip center in Eastchester and two warehouse/industrial buildings in Tuckahoe and Greenburgh. The warehouse buildings are net-leased to Verizon. Jeanne Cronin of Q10 secured the five-year loan, which features a 30-year amortization schedule, through a community bank for the borrower.
MILWAUKEE — Unique Delivery Service Inc. has signed a 27,000-square-foot industrial lease in Milwaukee. The courier service company will occupy the building located at 4122 S. 13th St. Jonas Family Limited Partnership was the landlord. TJ Huenerbein and Cale Berg of the Dickman Co. Inc. brokered the lease transaction.
Jacksonville’s industrial market continues to improve as encouraging fundamentals are in place that are prompting developers to commit to building spec warehouse again. The lack of new construction over the last eight years, the expected reduction in regulations and taxes by the new administration in Washington and the commitment to upgrades in the local infrastructure will drive growth in our market. A 5.3 percent vacancy rate for warehouses and distribution space is also a major factor. With 126 million square feet of existing warehouse space spread over 860 square miles, our market has room to grow. Recent announcements of major expansions coming to Jacksonville include Amazon, General Electric and UPS. Amazon will occupy 2.5 million square feet in North Jacksonville and will have the largest impact on employment in the history of the city. General Electric is leasing 500,000 square feet in Hillwood’s Cecil Commerce Center. Situated on Jacksonville’s Westside adjacent to Pattillo’s Westside Industrial Park, UPS is adding 260,000 square feet to its existing 560,000-square-foot facility. When completed in the fall of 2019, the 820,000-square-foot facility will be able to process more than 80,000 packages per hour. Jacksonville is a tier-two market nationally and typically has a few large-scale …
HARRIMAN, N.Y. — NAI James E. Hanson has brokered the sale of an industrial building, located at 2 Bailey Farm Road in Harriman. Contract Packaging Services acquired the 96,500-square-foot property from Why Associates for an undisclosed price. Situated on 20 acres, the property features five loading docks and 80 parking spaces, as well as the option for a 100,000-square-foot expansion. The buyer exercised its purchasing option on the property after completing a five-year lease at the location. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the seller in the deal.
ORLANDO, FLA. — Cushman & Wakefield has brokered the $67.1 million sale of four Class A warehouse and distribution buildings in Orlando totaling 946,379 square feet. The portfolio includes Beachline Distribution Center I and II and Crossroads Business Park V and VI. The buildings were fully leased at the time of sale to tenants including FedEx Smartpost, Dusobox, McKesson, Mattress One, Petco and US Mattress Depot. Each building offers front-load and cross-dock capabilities, tilt-wall construction, 26- to 30-foot clear heights, fire safety systems, parking and 120- to 150-foot truck courts with 55-foot concrete aprons. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, a state pension fund advised by L&B Realty Advisors LLP. Los Angeles-based Colony NorthStar acquired the assets through its Dallas-based industrial fund, Colony Industrial. The transaction is the largest multi-tenant industrial portfolio sale in Orlando’s history in terms of square footage, according to Cushman & Wakefield. — Katie Sloan
