PENNSAUKEN, N.J. — Markeim Chalmers has arranged the sale of an industrial building located at 1395 Suckle Highway in Pennsauken. 153 Suckle Highway LLC acquired the 37,215-square-foot building for $1.2 million. Adam Dembo of Markeim Chalmers represented the seller, Suckle Properties, in the deal.
AIKEN, S.C. — Monmouth Real Estate Investment Corp. has purchased a 315,560-square-foot industrial building located at 1103 Powderhouse Road in Aiken for $21.9 million. The Class A facility is situated on approximately 24 acres and is net-leased for 15 years to Autoneum North America Inc., a supplier of acoustic and thermal parts for the automotive industry.
LAKEVILLE, MINN. — Launch Properties has broken ground on Launch Park Lakeville I, a 286,000-square-foot warehouse in Lakeville, a suburb of Minneapolis. The building is 53 percent pre-leased to an undisclosed tenant, while 136,000 square feet remains available for lease. Construction is slated for completion in November. Launch Park Lakeville I will feature 32-foot clear heights, 50-foot interior bays, 60-foot dock bays, 23 dock doors and two drive-in doors. This is the first building in the master-planned park located at County Road 70 and Cedar Avenue, which can support up to 1.5 million square feet of new development. Jack Matasosky of Lakeville-based APPRO Development is providing design-build services for the project. Doug Fulton and Patrick McCaffrey of Avison Young represented the tenant in the lease transaction. Brian Van Hoof and Jeff Przytarski of CBRE represented Launch Properties.
CARTERSVILLE, GA. — Lidl, a discount German grocery chain, has unveiled plans for a new $100 million regional headquarters and distribution center in Cartersville, roughly 40 miles north of Atlanta. The facility will create 250 jobs over the next five years. Lidl is focusing first on the Southeast and Mid-Atlantic in its U.S. expansion plans, with its first 20 stores set to open this summer in Virginia, North Carolina and South Carolina. To date, Lidl operates more than 10,000 grocery stores in 28 countries.
FAIRBURN, GA. — Core5 Industrial Partners has sold Core5 Logistics Center at Shugart Farms, an 873,800-square-foot industrial facility located in Fairburn, roughly 20 miles south of Atlanta, for $62 million. Chris Riley, Frank Fallon and Trey Barry of CBRE represented Atlanta-based Core5 in the sale to a private institutional investor. The logistics facility was constructed in early 2017 and was fully leased to The Duracell Co. at the time of sale.
FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 713,000-square-foot, Class A distribution center currently under construction at 3000 Cantrell Sansom Road in Fort Worth. DHL Real Estate Solutions is developing the property, which is scheduled for an early August completion and is 80 percent preleased to anchor tenant Campbell Soup Supply Co. Nathan Lawrence, Ryan Keiser, Seth Kelly, Jon Sarkisian and Bill Wolf of CBRE represented Campbell Soup in its 578,000-square-foot lease at the center.
DESOTO, TEXAS — Tailored clothing manufacturer Trybus Group has opened its new 145,106-square-foot headquarters in the Dallas metro of DeSoto. The property features 7,783 square feet of office space and about 137,000 square feet of warehouse space. The warehouse includes 32-foot clear heights, 22 truck bays and more than eight miles of custom-designed railways. Bob Moore Construction served as general contractor on the project.
BERLIN, CONN. — O,R&L Commercial has facilitated the lease of 18,000 square feet of warehouse distribution and office space at 24 New Park Drive in Berlin. FSB leased the space from The Cariati Family LP. The tenant plans to use the space for its U.S. headquarters. Frank Hird of O,R&L represented the tenant, while James Neckerman of Commercial Real Estate Group represented the landlord in the lease transaction.
Denver’s industrial market has had an impressive run so far this economic cycle – so much so that the top-of-mind-question is, “Where do we go from here?” Last year was a prolific year, attracting new investors, delivering 4.5 million square feet of Class A space and posting the fifth straight year of sub-5 percent vacancy. But the outlook for 2017 is brighter given Denver’s strong economic foundation, the arrival of e-commerce users and delivery of much-needed warehouse inventory. E-commerce Arrives in a Big Way E-commerce arrived in Denver in 2016 but is only just rolling out. Construction began earlier this year on a 1.1-million-square-foot fulfillment center, which will be the market’s largest industrial building upon completion. Several other last-mile e-commerce facilities are opening in the region that are intended to provide same-day or fresh food delivery. The local e-commerce footprint is approaching 3 million square feet in total. E-commerce companies are actively securing sites in Denver largely in response to the region’s explosive population growth. Colorado was the second-fastest-growing state in 2015, and Colorado’s Front Range communities are home to more than 5 million people. Between 2010 and 2016, Denver added nearly 1,000 new residents a week and ranked 12th …
COSTA MESA, CALIF. — BLT Enterprises has acquired a 112,000-square-foot logistics property in Costa Mesa for $33.4 million. FedEx occupies the center, which is located at 1650 Sunflower Ave. FedEx’s lease was set to expire next year, but a blend-and-extend lease was built into the sale that will keep the company there until 2028. The property was built in 1976 and repurposed in 2008. The seller was Sovereign Capital Management Group. Colliers’ Institutional Investment Services Group – Western Region executed the sale.