Industrial

Meridian Design Build Completes 304,317 SF Distribution Facility in Pennsylvania

by Amy Works July 21, 2016

PITTSTON TOWNSHIP, PA. — Meridian Design Build has completed the construction of an automated package sorting and distribution center for developer Scannell Properties. Constructed on a design-build basis, the new facility is located on 59.1 acres in Pittston Township. The 304,317-square-foot building features 99 loading docks, 237 interior van loading positions, 593 auto parking stalls and 350 exterior trailer stalls. Additionally, the facility features 14,734 square feet of office space, a 2,940-square-foot gateway building and a 5,180-square-foot maintenance shop. Architectural services were provided by Precept Design and civil engineering services were provided by Kimley-Horn.

July 21, 2016

Illinois Industrial Midwest

Principle Construction Finishes Work on 70,000 SF Industrial Project in Illinois for Saia

by Christina Cannon July 21, 2016

GRAYSLAKE, ILL. — Principle Construction Corp. has completed two industrial buildings for Saia LTL Freight. The buildings, located at 2260 S. Midlothian Road in Grayslake, will serve as administrative, maintenance and operations space for Saia. The two buildings are situated on 33 acres and total 70,000 square feet. Amenities at the property include 16-foot clear heights, over 100 docks and a fueling facility with 12 service bays and two wash bays. The project also features parking for 94 automobiles, 294 trailers, 34 tractors and 30 dollies. Larry L. Christian Architects designed the project, and Cushman & Wakefield represented Saia.

July 21, 2016

Industrial New York Northeast Top Stories

GFI Brokers $195M Sale of 656,000 SF Warehouse in Queens

by John Nelson July 21, 2016

NEW YORK CITY — GFI Realty Services LLC has arranged the $195 million sale of 23-02 49th Ave., a seven-story, 656,000-square-foot warehouse in the Long Island City section of Queens. The property is fully occupied by three tenants whose leases are expiring in 2020: the New York City Housing Authority, Eagle Transfer Co. and Mayo Studios. The undisclosed buyers plan on converting the building into office space upon the termination of the current leases. According to Crain’s New York, the buyers are Westbrook Partners, a privately owned real estate investment management firm, and investor Andrew Chung, a former executive with the Carlyle Group. Crain’s reports the sellers are Ruby Schron and the Fruchthandler family. “Long Island City office is booming, and industrial conversion is bringing many new office properties to market,” says Yisroel Pershin, director of GFI Realty. “Once the property is converted to office use, the buyers anticipate strong leasing activity because of the unmet demand for creative office facilities and the ability to offer space at a 50 percent discount to Manhattan rates.” Pershin and Yosef Katz of GFI Realty brokered the sale of the warehouse, which traded at a capitalization rate below 3 percent. “The extremely low …

July 21, 2016

Industrial Midwest Wisconsin

The Dickman Company Arranges 45,958 SF Industrial Lease Near Milwaukee

by Christina Cannon July 20, 2016

CUDAHY, WIS. — The Dickman Company Inc./CORFAC International has arranged a 45,958-square-foot industrial lease in Cudahy, seven miles south of Milwaukee. Action Industries Ltd. will occupy the space located at 2200 E. College Ave. Nick Keys of The Dickman Company represented the tenant in the transaction. Pat Hake of Colliers International represented the landlord, CrossLake Partners.

July 20, 2016

Florida Industrial Southeast

McCraney Buys 70 Acres in Florida for 1.3M SF Spec Industrial Development

by John Nelson July 20, 2016

PLANT CITY, FLA. — McCraney Property Co. has purchased 70 acres of a strawberry farm located at the intersection of County Line and Rice roads in Plant City. The West Palm Beach, Fla.-based industrial developer will build a 1.3 million-square-foot spec industrial development at the site known as County Line Logistics Center at Fancy Farms. The development will include Building 100 (131,200 square feet); Building 200 (168,480 square feet); Building 300 (173,600 square feet); and Building 400 (876,240 square feet), all being developed with 36-foot clear heights. Lisa Parks Abberger of Hauger-Bunch Inc. represented the seller in the land transaction, and Bruce Erhardt of Cushman & Wakefield represented McCraney Property.

July 20, 2016

Connecticut Industrial Northeast

The Geenty Group Brokers $1M Acquisition of Industrial Property in Connecticut

by Amy Works July 20, 2016

EAST HAVEN, CONN. — The Geenty Group, Realtors, has arranged the acquisition of a light industrial building located at 158 Commerce St. in East Haven. Anthony Augliera Inc. acquired the 41,654-square-foot property from Masu Realty for $1 million. The buyer plans to relocate its Augliera Moving & Storage business to the property from its current location in West Haven, Conn. Kristin Geenty of The Geenty Group represented the buyer, while Kevin Geenty, also of The Geenty Group, represented the seller in the deal.

July 20, 2016

Industrial New Jersey Northeast

Avison Young Negotiates 143,890 SF Industrial Warehouse Lease in New Jersey

by Amy Works July 20, 2016

UNION, N.J. — Avison Young represented Boxed, a mobile delivery service for wholesale goods, in the seven-year lease of a 143,890-square-foot of industrial warehouse space at 750 Union Ave. in Union. The property is owned by Bridge Development Partners. Now occupying more than 50 percent of the 263,553-square-foot facility, Boxed will use the space as its regional distribution center with additional office space. Jennifer Ogden of Avison Young and Andrew Houston of CBRE brokered the deal.

July 20, 2016

Arizona Industrial Loans Western

NorthMarq Arranges $5.2M Acquisition Loan for Ahwatukee 48 Warehouse Property in Phoenix

by Nellie Day July 19, 2016

PHOENIX — NorthMarq Capital has arranged $5.2 million in acquisition financing for Ahwatukee 48, an 87,772 –square-foot office/warehouse property in Phoenix. The space is located at 15905-15915 S. 46th St. and 15920-15930 S. 48th St. The transaction was structured with a 20-year term and 25-year amortization schedule. Shari Stults of NorthMarq arranged the financing through its correspondent relationship with Ohio National. Keller Williams Desert Foothills Realty and Synaptics Inc. are the property’s major tenants.

July 19, 2016

Industrial Texas

Vigavi West Ten Breaks Ground on 22,500 SF Spec Industrial Building in Metro Houston

by Haisten Willis July 19, 2016

KATY, TEXAS — Vigavi West Ten has broken ground on a 22,500-square-foot speculative industrial building at West Ten Industrial Park in Katy, a suburb of Houston. The industrial park offers land sites for sale or build-to-suit opportunities, as well as industrial buildings for sale or lease. At completion, West Ten Industrial Park can accommodate 350,000 square feet on 35 acres. In 2015, Parkside Capital partnered with Vigavi Realty to purchase the land within West Ten Business Park for the new facility. Located at 633 Choctaw Lane, the first building underway at West Ten Industrial Park is scheduled to deliver in November 2016. John Simons and Holden Rushing of NAI Partners are marketing the park.

July 19, 2016

Industrial Texas

Lee & Associates Arranges 56,132 SF Industrial Sale in Metro Dallas

by Haisten Willis July 19, 2016

CARROLLTON, TEXAS — Lee & Associates has arranged the sale of a 56,132-square-foot industrial building located at 1540 Champion Drive in Carrollton. Nathan Denton of Lee & Associates’ Dallas/Fort Worth office represented the seller, StoneDome Real Estate LLC. Ryan Boozer of Stream Realty Partners represented the buyer, Terrastone LLC.

July 19, 2016

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