Industrial

Conor Commercial Completes Development of 385,300 SF Industrial Building in Elgin, Illinois

by Kristin Harlow December 1, 2016

ELGIN, ILL. — Conor Commercial Real Estate has completed development of Northwest Pointe II, a 385,300-square-foot speculative industrial building in Elgin, about 35 miles northwest of Chicago. The company also purchased a 20.5-acre site directly adjacent to the development. Northwest Pointe II and neighboring parcel are located within Northwest Corporate Park near the intersection of Galvin and Higgins Roads. The building offers Class A industrial space with 32-foot clear heights. Northwest Pointe I, a 342,620-square-foot speculative industrial facility, was completed in 2014. Multiple design options are available for Northwest Pointe III from 120,000 to 300,000 square feet. John Cassidy and Kenneth Franzese of Lee & Associates represented both the seller and Conor Commercial in all three transactions. McShane Construction Co. and Ware Malcomb comprised the design/build team for Northwest Pointe II.

December 1, 2016

Industrial Midwest Ohio

CBRE Negotiates 90,750 SF Industrial Lease for Polymet Near Cincinnati

by Kristin Harlow December 1, 2016

WEST CHESTER TOWNSHIP, OHIO — CBRE has negotiated the lease of 90,750 square feet of industrial space for Polymet Corp., a manufacturer of high-performance wire for hardfacing, welding and thermal spraying, at Becknell Industrial’s speculative warehouse building in West Chester Township, about 18 miles north of Cincinnati. Polymet will consolidate two of its West Chester operations to the new Port Union E location that is currently under construction. The building, located on Union Centre Boulevard, will have a total of 138,750 square feet and sit on 9.1 acres. Completion is slated for early next year. Robert Bunton of CBRE represented Polymet in the transaction. Jeremy Kraus of CBRE represented the landlord, Becknell, and is currently marketing the remaining 48,000 square feet for lease.

December 1, 2016

Industrial Office Texas

Cypressbrook Co. Closes Three Deals Totaling 69,604 SF in Texas

by Amy Works December 1, 2016

HUMBLE, SPRING AND WALLER, TEXAS — Cypressbrook Co. has arranged three transactions totaling 69,604 square feet of office and warehouse space in Texas. In the first transaction, John Hornbuckle of Cypressbrook Co. represented the landlord, Cypressbrook Huntington Volta LP, in the lease of 56,404 square feet of warehouse distribution space, located at 8575 Volta Drive in Humble’s Kenswick Air Freight submarket, to MIQ Logistics. Barrett Gibson of Colliers International represented the tenant. In the second deal, Coil Tubing Technology Inc. sold a 6,000-square-foot office building located at 22305 Gosling Road in Spring. Southern Texas Section PGA acquired the property for an undisclosed price. Joyce Sterling of Cypressbrook Co. represented the seller, while Randy Wilhelm of NAI Partners represented the buyer. In the third transaction, V.J. Towry leased 7,200 square feet of office and warehouse space, located at 41254 Park 290 Drive in Waller, to Cannon Construction. Denis Ksiazek of Cypressbrook Co. represented the landlord, while Melissa Hegemeyer of Coldwell Banker Properties Unlimited represented the tenant.

December 1, 2016

California Industrial Western

Industrial Property Trust Buys Alessandro Business Center in Riverside for $51.6M

by Nellie Day November 30, 2016

RIVERSIDE, CALIF. — Industrial Property Trust has acquired Alessandro Business Center, a 582,000-square-foot industrial facility in Riverside, for $51.6 million. The facility is located at 7295 San Gorgonio Drive. Ascena Retail Group fully occupies the institutional-quality center. Jeff Chiate, Jeff Cole and Chuck Belden of Cushman & Wakefield, along with James Panting of Commercial Realty Advisors, represented the seller, Western Realco/Cigna, in this transaction.

November 30, 2016

California Industrial Loans Western

PCCP Provides $48.5M Construction Loan for Bay Area Logistics Center Development

by Nellie Day November 30, 2016

SAN FRANCISCO — PCCP has provided a $48.5 million construction loan for the development of Bay Area Logistics Center, a 707,600-square-foot distribution facility in the East Bay submarket of Richmond. The park will be situated within the master-planned Pinole Point Industrial Park. Other notable tenants at the park include Amazon, Whole Foods, Williams and Sonoma and UPS. Bay Area Logistics Center is about 16 miles from the Port of Oakland and 27 miles from Oakland Airport. It will sit adjacent to a UPS hub. The facility is scheduled for completion in September 2017. The borrower was LDK Ventures.

November 30, 2016

Indiana Industrial Loans Midwest Office

Calmwater Capital Provides $44M Bridge Loan for 993,017 SF Industrial and Medical Office Building in Munster, Indiana

by Kristin Harlow November 30, 2016

MUNSTER, IND. — Calmwater Capital has provided a $44 million bridge loan to Simborg Development to refinance existing debt, recapitalize the existing partnership and provide capital to lease up the remaining vacancies at Lake Business Center in Munster near Chicago. The 993,017-square-foot former Simmons Bedding Factory contains industrial and medical office space and was 83 percent leased at the time of the transaction. The building is located at 9100, 9120 and 9200 Calumet Ave. A significant portion of the credit facility will finance the payoff of the existing loan, investor buyout and tenant improvements. Ryan Malatesta of Calmwater Capital was the loan originator in the transaction.

November 30, 2016

Industrial Midwest Missouri

Cushman & Wakefield Negotiates 81,997 SF Industrial Lease in Kansas City, Missouri

by Kristin Harlow November 30, 2016

KANSAS CITY, MO. — Cushman & Wakefield has negotiated the lease of 81,997 square feet of industrial space in Building III at Three Trails Industrial Park in Kansas City. Shuttlewagon Inc., a designer and manufacturer of mobile railcar movers for aggregate, mining and refining industries, will occupy the space located at 8701 Elmwood Ave. for 15 years. At least 60 employees are expected to work in the building. Joe Accurso and Rob Holland of Cushman & Wakefield represented Shuttlewagon in the transaction. Mark Fountain and Nick Tinnel of True North Industrial Realty LLC represented the landlord, NPIF2 Three Trails Building III LLC.

November 30, 2016

Industrial Southeast Tennessee

Premier Design + Build to Construct 650,000 SF Spec Distribution Facility in Metro Nashville

by John Nelson November 30, 2016

LEBANON, TENN. — Premier Design + Build Group LLC plans to construct Commerce Farms V, a 650,000-square-foot spec distribution facility situated within the 145-acre Commerce Farms Industrial Park in Lebanon, a suburb of Nashville. Premier Design + Build is building the property on behalf of the developer, HSA Commercial Real Estate. The facility will sit on 41 acres at Highway 109 and feature 32-foot clear heights, 144 truck dock positions, four drive-in doors, a parking lot with 184 trailer stalls and a TPO roofing system. Joe Ahrens is the project manager and Johnathan Nelsen is the field superintendent from Premier Design + Build. Harris Architects will deliver architectural services for the project, and Joe DeLemos of NorthStar Real Estate Advisors is leasing the building.

November 30, 2016

Industrial Massachusetts Northeast Office

R.W. Holmes Realty Facilitates $1.9M Sale of Office, Warehouse Property in Bellingham, Massachusetts

by Amy Works November 29, 2016

BELLINGHAM, MASS. — R.W. Holmes Realty has arranged the sale of an office and warehouse building located at 24 Williams Way in Bellingham. Gainsboro Brothers LLC sold the property to Matt Clark of TMC Holdings & Development for $1.9 million. Situated on three acres, the building features 34,700 square feet of office and warehouse space. The buyer plans to renovate the property and site for multi-tenant use. John Eysenback of R.W. Holmes represented the seller and buyer in the deal.

November 29, 2016

Industrial Midwest Minnesota

CBRE Negotiates Industrial Lease Expansion for Point B Logistics Near Minneapolis

by Kristin Harlow November 29, 2016

BROOKLYN PARK, MINN. — CBRE has negotiated an industrial lease expansion for Point B Logistics in Brooklyn Park near Minneapolis. The logistics company has expanded its lease at 610 Commerce Center from 34,780 square feet to 61,097 square feet. This brings the industrial building to full occupancy. Other tenants include Scholastic Book Fair, Blackhawk Industrial and Varitronics LLC. The building is the first phase of development at the site, with another 202,000-square-foot industrial building available for occupancy in fall 2017. A third 100,000-square-foot building is also planned for the site. Dan Swartz of CBRE is exclusively marketing Phase II and III for lease on behalf of the building’s owner and developer, CSM Corp.

November 29, 2016

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