FRANKLIN, MASS. — Novaya Real Estate Ventures has signed a lease with defense contractor Qinetiq North America for 100 percent of the space at 130 Constitution Blvd. in Franklin. Novaya acquired the 59,970-square-foot industrial building in 2013 and launched a capital improvement program. Transwestern’s John Lashar represented Novaya and Bill Bailey of JLL represented Qinetiq North America in the transaction.
EDGERTON, KAN. — United Parcel Service Inc., in collaboration with NorthPoint Development, is developing a 197,000-square-foot distribution center in Logistic Park Kansas City (LPKC) in Edgerton. The facility will include a UPS Customer Center and will dispatch trucks for routes in the area. Missouri-based NorthPoint is the real estate developer for LPKC, a 1,700-acre distribution hub now containing over 10 million square feet of warehouse and distribution space. The new UPS operation will be located on the west side of LPKC at 19400 Essex St. The location is less than a mile from the BNSF intermodal facility and is accessible to I-35 via Homestead Lane.
ROMEOVILLE, ILL. — Meridian Design Build has completed a 226,616-square-foot industrial tenant build-out for Molto Properties and LASCO Fittings Inc. in Romeoville. The property is located at 1881 Normantown Road. The new facility includes 4,486 square feet of office space and a 221,616-square-foot distribution warehouse with 35 loading docks, 205 auto parking stalls, 39 trailer stalls and two drive-in doors. Additional work consisted of a shipping office, dock upgrades and modifications to the overhead lighting. Ware Malcomb served as project architect and V3 Cos. provided civil engineering services for the project.
AUSTIN, TEXAS — White Construction Co. has completed a 420,000-square-foot distribution center in Austin for Capitol Wright Distributing, a Texas-based beverage distributor. The cross-dock facility features concrete tilt-up walls and high-performance glass with aluminum solar awnings. HDA Architects designed the project.
ATLANTA — CT Realty, through its affiliate Port Logistics Realty, and joint venture partners PGIM Real Estate and River Oaks Capital Partners have purchased 213 acres of land in Atlanta for the development of Palmetto Logistics Park, a 3.5-million-square-foot industrial park. The joint venture also has a purchase option on an adjacent 145 acres. Situated across from a CSX intermodal facility and near Interstate 85, Palmetto Logistics Park will be built in three phases with buildings ranging in size from 1 million square feet to 1.5 million square feet. Fifth Third Bank will provide construction financing for the first phase building of Palmetto Logistics Park. Ben Logue and Price Weaver of Colliers International’s Atlanta office will handle the park’s leasing assignment. No timeline for groundbreaking or delivery was disclosed. Dallas-based Port Logistics Realty is a partnership between CT Realty and Xebec Realty, two Southern California-based industrial development firms.
CHICAGO — Bellwether Enterprise has arranged a $9 million loan for the refinancing of a 700,000-square-foot industrial property in Chicago. Constructed in the late 1990s, the building features 30-foot clear heights and 120-foot truck courts. Shelley Magoffin and Max Sauerman of Bellwether arranged the loan for the Los Angeles-based owner. Thrivent Financial for Lutherans provided the loan.
WALLER, TEXAS — Daikin Industries Ltd., a manufacturer of indoor heating and cooling systems and refrigerants, has opened the 500-acre Daikin Texas Technology Park (DTTP) in Waller, about 43 miles northwest of Houston. The Japanese company’s new $400 million business campus consolidates many of the company’s HVAC (heating, ventilating and air conditioning) manufacturing and logistics facilities in Texas and Tennessee. “The DTTP is the largest facility investment our company has made in its 90-year history, and we believe that investing in Texas and keeping jobs in the United States is mutually beneficial for both our company and the economy,” says Takeshi Ebisu, president and CEO of Goodman Global Group Inc., a subsidiary of Daikin. Spanning roughly 4 million square feet, the DTTP supports the design, engineering and assembly of heating and cooling products for residential and commercial use, marketed under the Daikin, Goodman and Amana brands. Amana is a registered trademark of Maytag Corp. or its related companies (including Whirlpool) and is used under license to Goodman Co. Daikin also plans to assemble VRV (variable refrigerant volume) products at the DTTP that were previously imported from other Daikin business units outside of North America. Noriyuki Inoue, Daikin’s chairman of the …
A snapshot of Toledo’s industrial real estate market at the end of 2016 reveals a well-performing sector, maintaining the steady improvement recorded during the prior year. In fact, the vital signs of the property sector hit some of their best levels in a decade last year. By the end of the year, every key metric was up from midyear 2016 and year-end 2015. One bit of cloudiness trying to sneak in on the otherwise very sunny picture, however, is the limited supply of available space options. Demand clearly exists for additional space, but users are unable to find options that fit their needs. The dearth of adequate space alternatives is restraining potential transaction volume and, by extension, probable job growth. By Toledo standards, the market has been absorbing an impressive amount of space over the past several years. Overall, the 85 million-square-foot market absorbed 763,065 square feet in the second half of 2016. However, as strong as the absorption numbers have been, it is easy to speculate they would be much higher if more of the right kind and sizes of space existed in the market. There is a shortage among all building sizes, but the need is most acute …
LANCASTER, TEXAS — Arch-Con Construction has completed Park 20 Distribution Center, a tilt-wall, cross-dock industrial property situated on 36 acres in Lancaster. Built for Denver-based developer Huntington Industrial Partners, the property measures 468,000 square feet and features 32-foot clear heights and 101 overhead doors. Meinhardt & Associates Architects PLLC designed the project.
CHICAGO — Flex-N-Gate has signed a 288,000-square-foot industrial lease on Chicago’s south side. The property, slated to open early next year, is located at 2924 126th St. The automotive equipment supplier will begin its lease of the facility in January 2018 and will convert the existing warehouse into a modern automotive operation that will serve multiple automakers, including the nearby Ford Chicago Assembly Plant. Conversion of the space is slated for completion by the first quarter of 2019. Flex-N-Gate has entered into a 10-year Economic Development for a Growing Economy (EDGE) partnership with the State of Illinois and the City of Chicago. Through the partnership, Flex-N-Gate has committed to hiring at least 286 full-time employees over the next three years and investing $30 million into the facility over the next 10 years. The firm will receive various tax credits and abatements during the 10-year period. CBRE Asset Services manages the property and surrounding Chicago Manufacturing Campus. Mitch Adams and George Maragos of CBRE represented ownership in the transaction, while Jason West and Mike Magliano of Cushman & Wakefield represented Flex-N-Gate.