Industrial

Ridge Breaks Ground on 351,171 SF Industrial Project in Austin

by Taylor Williams June 1, 2017

AUSTIN, TEXAS — Ridge, the industrial development branch of Transwestern Development Co., has broken ground on a 351,171-square-foot industrial project within Southpark Commerce Center in Austin. The project is expected to deliver three buildings during the fourth quarter, with each building featuring 24-foot clear heights and more than 20 dock doors and 120 parking spaces. Situated on 24.2 acres near the intersection of Interstate 35 and State Highway 71, the center will encompass 2.3 million square feet at final buildout.

June 1, 2017

Avison Young Brokers Sale of 852,370 SF GE Distribution Facility in Cleveland, Tennessee

by John Nelson June 1, 2017

CLEVELAND, TENN. — Avison Young has brokered the sale of an 851,370-square-foot distribution facility located at 1520 Lauderdale Memorial Highway in Cleveland that is fully leased to General Electric (GE). New York-based Lexington Realty Trust purchased the asset from Chicago-based SMB Bradley for an undisclosed price. The facility is GE’s largest lighting distribution center and serves some of the world’s leading retailers, including Walmart, Lowe’s Home Improvement and Target. The property features 32-foot clear ceiling heights, T5 lighting, 350 trailer parking spaces and 250 automobile parking spaces. Excel Logistics, a division of DHL, has operated the facility since 2007. Erik Foster, Mike Wilson, Sue Earnest and Chris Skibinski of Avison Young represented the seller in the transaction.

June 1, 2017

Industrial Oklahoma

TierPoint to Build 60,000 SF Data Center in Metro Tulsa

by Taylor Williams May 31, 2017

BROKEN ARROW, OKLA. — Tierpoint, a Missouri-based IT firm, will build a 60,000-square-foot data center that includes infrastructure support and office space in the Tulsa metro of Broken Arrow. The initial phase of construction, which will deliver 30,000 square feet of total space and 16,000 square feet of raised floor, will cost approximately $20 million. Completion is scheduled for late 2017. The property will be TierPoint’s fourth data center in Oklahoma.

May 31, 2017

Industrial Southeast Tennessee

HSA Commercial Signs Geodis Logistics to 372,181 SF Industrial Lease in Metro Nashville

by John Nelson May 31, 2017

LEBANON, TENN. — HSA Commercial Real Estate has signed Geodis Logistics LLC to a 372,181-square-foot lease at Commerce Farms V, a newly built industrial project in Lebanon, a suburb of Nashville. Geodis will use the facility as a worldwide coffee retailer distribution center. HSA Commercial and Washington Capital Management Inc. recently delivered Commerce Farms V, which is located on 41 acres at the junction of State Route 840 and Highway 109 near Interstates 40, 24 and 65. The project features 32-foot clear heights, 26 truck doors and two drive-in doors. Randy Wolcott, Chad Tuck and Joe DeLemos of NorthStar Real Estate Advisors represented HSA Commercial in the lease negotiations with Geodis.

May 31, 2017

Industrial Midwest Ohio

Covington Group Acquires 500,625 SF Industrial Warehouse in Columbus, Ohio

by Kristin Harlow May 31, 2017

COLUMBUS, OHIO — Covington Group Inc. has acquired a 500,625-square-foot industrial warehouse and distribution facility in Columbus for an undisclosed price. The two-building property is located near the John Glenn Columbus International Airport. A single tenant occupies 70 percent of the property. Covington plans to make improvements to the buildings such as exterior painting, landscaping, new signage and a refocused leasing effort. Covington also acquired an industrial building in Baltimore as part of the same transaction.

May 31, 2017

Illinois Industrial Midwest

Bridge Development Unveils Plans for 323,343 SF Industrial Facility in Cicero, Illinois

by Kristin Harlow May 31, 2017

CICERO, ILL. — Bridge Development Partners LLC has unveiled plans to develop Bridge Point 290, a 323,343-square-foot industrial facility in Cicero near Chicago. The 18.5-acre site is located at 1531 S. 54th Ave., less than one mile from I-290. The site was formerly home to a General Electric manufacturing facility. George Maragos and Nicole Mentone of CBRE represented GE in the land sale. Bridge Point 290 is scheduled for completion in February 2018. The property will feature 36-foot clear heights, 50 docks, 77 trailer positions, parking for 273 cars and an ESFR sprinkler system. Premier Design + Build Group will serve as general contractor, and Cornerstone Architects will serve as architect. George Maragos, Mitch Adams and Nicole Mentone of CBRE will represent Bridge in lease-up of the building.

May 31, 2017

300-niantic-avenue-providence-rhode-island

Industrial Northeast Rhode Island

CBRE Negotiates $4.2M Sale of Industrial Property in Providence

by Haisten Willis May 31, 2017

PROVIDENCE, R.I. — CBRE has negotiated the $4.2 million sale of 300 Niantic Ave., a 67,200-square-foot, single-story industrial building in Providence. ECP Niantic sold the property to Legacy Real Estate Ventures in a joint venture with ProPartners in Parking. CBRE’s Alden Anderson and Tom Barry represented the seller and procured the buyer in the transaction. Legacy Real Estate Ventures owns a portfolio of office, medical and industrial buildings in Massachusetts, Rhode Island and Pennsylvania. This is the company’s first collaboration with ProPartners in Parking, which acquires parking assets and other real estate properties on behalf of itself and its investment partners. Ed Riekstins of NorthMarq arranged financing for the property, which was provided by Ameritas. KBR, an affiliate of ProPartners in Parking, will provide property management services. 300 Niantic Avenue is located in Huntington Industrial Park and tenants include Calise Bakery, J. Polep, Rhode Island PBS and S.G. Torrice Co.

May 31, 2017

California Industrial Western

Rexford Industrial Realty Buys Safari Business Center in Inland Empire for $141.2M

by Nellie Day May 30, 2017

ONTARIO, CALIF. — Rexford Industrial Realty has purchased Safari Business Center, a 1.1 million-square-foot industrial park in Ontario, for $141.2 million. The park is located at 1910 S. Carlos Ave. Safari Business Center contains 16 Class A buildings that are 97 percent leased. CBRE’s Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter Finkel and Michael Kendall represented the seller, ARA | American Realty Advisors, on this transaction. JLL’s Jeff Bellitti and Mac Hewett will serve as the center’s leasing agents, and assisted the CBRE team on the sale.

May 30, 2017

Industrial Multifamily New York Northeast

A&G Realty Partners Launches Non-Retail Properties Division

by Haisten Willis May 30, 2017

MELVILLE, N.Y. — A&G Realty Partners has launched a division focused on maximizing the value of real estate assets and leases in non-retail sectors. The formal launch of the non-retail properties division follows several years in which A&G worked to broaden its reach to sectors including office, industrial, higher education and multifamily.

May 30, 2017

Industrial Texas

Lonestar to Acquire Five Oil, Gas Properties in Texas for $116.6M

by Taylor Williams May 30, 2017

FORT WORTH, TEXAS — Fort Worth-based oil and gas firm Lonestar Resources US Inc. has entered into agreements with unaffiliated sellers to acquire five oil and gas properties within the Eagle Ford Shale play, an oil and gas formation in South Texas with more than $30 billion in capital investment. The properties are located in Karnes, Gonzales, DeWitt, Lavaca and Fayette counties. Upon closing, which is slated for late June, the company will acquire 80.3 net producing oil and gas wells and a leasehold totaling 21,238 net acres for approximately $116.6 million.

May 30, 2017

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