Industrial

Tire Universe Leases 42,430 SF of Industrial Space in Metro Houston

by Amy Works January 5, 2017

MISSOURI CITY, TEXAS — Tire Universe, a tire retailer, has signed a long-term lease for 42,430 square feet of industrial space at Gateway Southwest Industrial Park in Missouri City, a southwest suburb of Houston. Situated within the 131,560-square-foot Building 1, the fully outfitted space includes a 1,400-square-foot office component, nine dock doors and T-5 lighting. Sandy Kee of Kee Commercial Realty represented the tenant, while Ed Bane and Jon Michael of Bridge Commercial Real Estate represented the co-developers, Conor Commercial Real Estate, a member of The McShane Cos., and USAA Real Estate Co., in the deal.

January 5, 2017

Knoebel Construction Moves Headquarters to Chesterfield, Missouri

by Kristin Harlow January 5, 2017

CHESTERFIELD, MO. — Knoebel Construction Inc. has moved its headquarters from Fenton, Mo. to Chesterfield in St. Louis County. The new location at 18333 Wings Corporate Drive more than doubles Knoebel Construction’s space to 9,688 square feet. The new headquarters features 18 offices organized into two wings for project management and accounting/administrative staff. The building also includes three conference rooms, a team engagement area, a full kitchen and 2,500 square feet of warehouse space. Daniel Hayes of NAI DESCO brokered the transaction. Knoebel Construction is a full-service general contractor specializing in retail development, restaurant, grocery and retail construction.

January 5, 2017

Industrial Market Reports Midwest Midwest Market Reports Missouri

Falling Vacancies, Strong Demand Spur Industrial Construction in St. Louis

by Kristin Harlow January 5, 2017

The St. Louis industrial market is in the midst of historic development and deal making. As witnessed in many markets, “big bombers” — industrial facilities 500,000 square feet and larger — are coming out of the ground at a record pace. Better still, they are being leased and pre-leased at a record pace. By all accounts, the driver here is the new e-commerce phenomenon with major players like Amazon taking nearly 1.5 million square feet in the Metro East submarket. The two major developments in this submarket are Gateway Commerce Center, developed by TriStar, and the adjacent Lakeview Commerce Center, developed by Panattoni. In addition to Amazon, Gateway Commerce Center boosts a host of big box users such as P&G, Unilever and Saddle Creek Corp, the latter of which took 673,137 square feet last year at the Center. Tri-Star is in the process of completing two additional buildings in the Center: Gateway East 520 containing 520,000 square feet, and Gateway East 624 containing 624,000 square feet. In neighboring Lakeview Commerce Center, Amazon occupies additional space along with World Wide Technologies, occupying 769,500 square feet in the Center. Analyzing the data Let’s drill down further and let the numbers speak for …

January 5, 2017

Industrial Texas

Marcus & Millichap Arranges Sale of 34,000 SF Industrial Building in Houston

by Amy Works January 4, 2017

HOUSTON — Marcus & Millichap has brokered the sale of an industrial property located at 8934 Gulf Freeway in Houston. A developer acquired the 34,000-square-foot property for an undisclosed price. Derek Hargrove and Matthew Mignerey of Marcus & Millichap represented the seller, a private investor, in the deal.

January 4, 2017

Industrial Texas

Stream Realty Partners Facilitates 58,000 SF Industrial Lease in San Antonio

by Amy Works January 4, 2017

SAN ANTONIO — Stream Realty Partners has arranged the lease of 58,000 square feet of industrial space at Building 5 of Interstate Business Park in San Antonio. Wisenbaker Builder Services Inc., a provider of interior finish solutions, will occupy the space located at 6903 N.E, Loop 410. Ryan Boozer of Stream Realty Partners represented the tenant, while Cavendar & Hill Properties Inc. represented the landlord, Rio Pas Investments, in the deal.

January 4, 2017

Illinois Industrial Midwest

Brennan Investment Group Sells 139,425 SF Industrial Facility in O’Hare Market

by Kristin Harlow January 4, 2017

DES PLAINES, ILL. — Brennan Investment Group LLC has sold its newly developed industrial facility in Des Plaines in the O’Hare submarket. The Class A distribution building is located at 1780 Birchwood Ave. Developed in partnership with DLJ Real Estate Capital Partners, the 139,425-square-foot building was sold to Morgan Stanley’s Prime Property Fund. The property is fully leased to Pet Food Experts and Cambria Co. Jonathan Kohn and Thomas Rodeno of Colliers International represented Brennan Investment Group in the lease-up of the property. Steven Disse and Jeffrey Devine of Colliers International represented Brennan in the sales transaction. Keeley Construction was Brennan’s general contractor and The PrivateBank provided construction financing.

January 4, 2017

Industrial Midwest Wisconsin

The Dickman Co./CORFAC International Negotiates 114,844 SF Industrial Lease in Milwaukee

by Kristin Harlow January 4, 2017

MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the lease of 114,844 square feet of industrial space in Milwaukee. Southern Star Buske LLC, a limited liability company, will occupy the industrial/office space at 7501 N. 81st St. TJ Huenerbein of the Dickman Co. represented the tenant. Jeff Hoffman of The Boerke Co. Inc. represented the landlord, WMI Milwaukee LLC.

January 4, 2017

Industrial Michigan Midwest

Signature Associates Negotiates 6,700 SF Industrial Lease in Warren, Michigan

by Kristin Harlow January 4, 2017

WARREN, MICH. — Signature Associates has negotiated a 6,700-square-foot industrial lease in Warren, a suburb of Detroit. The building is located at 24525-24585 Forterra Drive. Paul Saad and Ben Wilkiemeyer of Signature Associates represented the landlord, Forterra Associates LLC. Wilkiemeyer also represented the tenant, Advanced Therapeutics. The medical equipment provider is based in Clinton, Mich.

January 4, 2017

Industrial Multifamily New York Northeast

Cushman & Wakefield Brokers Sales of Four Buildings in Brooklyn Totaling $27.5M

by Amy Works January 4, 2017

NEW YORK CITY — Cushman & Wakefield has arranged the sale of four buildings in Brooklyn. Robert Burton and Keegan Mehlhorn of Cushman & Wakefield represented the undisclosed seller in the transactions, which totaled $27.5 million. The portfolio includes 975 Washington Avenue, a 36,732-square-foot, 44-unit multifamily property that sold for $10.5 million; 762 E. Third Street, 32,000-square-foot, 42-unit multifamily building that sold for $8.5 million; 1812 East 18th Street, a 29,500-square-foot, 34-unit multifamily property that sold for $7.6 million; and a 2,133-square-foot industrial property located at 5614 Third Ave., which sold for $850,000. The names of the buyers were not released.

January 4, 2017

Industrial New Jersey Northeast Office

Colliers Facilitates $4.2M Sale of Industrial/Office Property in Pennsauken, New Jersey

by Amy Works January 4, 2017

PENNSAUKEN, N.J. — Colliers International has brokered the sale of an industrial and office building located at 1700 Suckle Highway in Pennsauken. Edison Lithograph and Printing acquired the property for $4.2 million. The printing company plans to expand its operations at the 114,000-square-foot facility. Situated on 7.7 acres, the building features 18-foot clear heights, tailgate and drive-in loading, abundant parking, heavy power and highway frontage on Route 130. The seller, Hill-Rom, is relocating to a renovated facility in Moorestown, N.J. Marc Isdaner of Colliers represented the seller, while Scott Mertz of NAI Mertz Corp. represented the buyer in the deal.

January 4, 2017

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