FENTON, MO. — Hilliker Corp. has brokered the sale of a 32,500-square-foot industrial building in Fenton, a suburb of St. Louis, for $1.7 million. The property is located at 255-273 Wolfner Drive near I-44. The multi-tenant building was 80 percent occupied at the time of sale. Scott Martin of Hilliker represented the seller, Future 44 Co. LLC, while The Johnson Group represented the buyer, E. B. Holdings LLC.
A common baseball analogy that explains where we are in the real estate cycle is “What inning are we in?” Regardless of the inning, in North Texas we’re just hoping it’s the first game of a doubleheader! The first quarter of 2017 was another respectable one for leasing activity in the Dallas-Fort Worth (DFW) industrial market. Total absorption for all properties was 5.5 million square feet, with 6 percent vacancy across 786.5 million square feet of industrial space. New supply totaled 6.6 million square feet for the first quarter. Just over 8 million square feet of new construction is underway in DFW, with 15 million square feet designated “big box,” or more than 200,000 square feet. Big box experienced absorption of 4.6 million square feet in the first quarter, despite having only 3.8 million square feet of new supply. The metroplex has been the beneficiary of some very large lease signings. Amazon alone is responsible for multiple leases totaling several million square feet. UPS recently leased a 1 million-square-foot property in Arlington, and Ashley Furniture announced the purchase of 358 acres in Mesquite for an 850,000-square-foot design/build distribution facility. In addition, a 1.4 million–square-foot, build-to-suit lease by a well-known real …
MIAMI — Amazon plans to expand its Florida presence with a new 800,000-square-foot fulfillment center in Miami. Situated within Carrie Meek International Business Park, a speculative industrial development at the Miami-Opa Locka Executive Airport, the project will be Amazon’s 10th facility in Florida. Foundry Commercial and Clarion Partners executed the lease with Amazon, which expects to employ more than 1,000 workers at the new facility. Carrie Meek International Business Park is a public-private partnership between the Carrie Meek Foundation, Foundry Commercial and Miami Mayor Carlos Gimenez’s office. The property will utilize automated processes supported by Amazon Robotics, a Massachusetts-based manufacturer of robotic fulfillment systems. The new fulfillment center will bring Amazon’s workforce in Florida to more than 7,500.
WEST DUNDEE, ILL. — The Opus Group has built two warehouse headquarters facilities for Renishaw Inc. and oelheld U.S. Inc. in the Oakview Corporate Park in West Dundee, a western suburb of Chicago. A new 134,000-square-foot facility will serve as the North American headquarters for Renishaw. The two-story building will allow the measurement and motion control company to consolidate and house all of its divisions in one location. The facility consists of approximately 69,000 square feet of office space, 38,000 square feet of warehouse space and 27,000 square feet of space designed for fabrication, demonstrations and trainings. The building also features custom areas for the company’s 3D metal printing. The new 23,400-square-foot headquarters for oelheld U.S., a machine-based lubricants and packaged oil products producer, consists of 7,600 square feet of office space and 15,800 square feet of warehouse space. Unique features of the building include a recessed warehouse floor and drainage barriers designed to contain spilled lubricants during the loading and unloading process in the warehouse. Opus Design Build was the design-builder and Opus AE Group was the architect and structural engineer of record, as well as the interior designer for both projects.
STRONGSVILLE, OHIO — Meridian Design Build has completed construction of a 185,210-square-foot industrial building for developer Scannell Properties in Strongsville, a suburb of Cleveland. The property is situated on a 21.8-acre site at 14700 Foltz Parkway. The multi-tenant building features 28 loading docks, two drive-in doors and parking for 164 cars. The design of the building incorporates a thermoplastic polyolefin roof and LED lighting. Precept Design provided architectural services, while Weber Engineering Services completed civil engineering work.
IRVING, TEXAS — Bradford Commercial has arranged the sale of Las Colinas Distribution Center, a two-building, 103,054-square-foot industrial property in Irving. Located at 3242-50 N. Skyway Circle and 3241-51 W. Story Road, the properties were 100 percent occupied at the time of sale to tenants such as JMP Engineering and PCI Logistics. Brian Pafford and Jason Miller of Bradford represented the seller, a family trust from North Texas, in the transaction. Hahn Franklin-Mitchell of Younger Partners represented the buyer, Austin-based Gretzinger Investment Group LLC.
DALLAS — Lee & Associates has negotiated a 51,555-square-foot industrial lease at 11470 Hillguard Road in Dallas. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, GLP, in the transaction. Tom Walrich of Lee & Associates represented the tenant, Supreme Custom Fabricators Inc., an Arkansas-based construction and remodeling firm.
KAILUA-KONA, HAWAII – Alexander & Baldwin has acquired five buildings within the Honokohau Industrial Park in Kailua-Kona for $10 million. The buildings are situated on two lots within the 37-acre industrial park. They are centrally located to service both Kailua-Kona and the Kohala Coast. The buildings contain a total of 73,200 square feet and are currently 94 percent leased to tenants in the construction, tourism, food distribution, automotive repair and transportation industries. The purchase was largely financed with sales proceeds from non-income producing properties.
HOUSTON — Boyd Commercial has negotiated a 50,400-square-foot lease at Apex Distribution Center, a 410,000-square-foot industrial property located at 5750 Brittmoore Road in Houston. David Boyd, Greg Barra and Wes Williams of Boyd represented the landlord, Crow Holdings, in the transaction. Richard Chen of Richard’s Investments represented the tenant, an affiliate of furniture manufacturer Furinno.com. The new lease brings the property, which houses the former Goya Foods Building, to 86 percent occupancy.
BROOKFIELD, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 40,427-square-foot industrial building in Brookfield. The property is located at 12745 W. Townsend St. Ryan Opportunity Investments LLC purchased the building from Favorite Son LLC for an undisclosed price. Samuel M. Dickman Jr., Samuel D. Dickman and TJ Huenerbein of Dickman brokered the transaction.