Industrial

CBRE Arranges Sale of 11-Acre Site for Future Industrial Development in Metro Chicago

by Christina Cannon May 11, 2016

BUFFALO GROVE, ILL. — CBRE has arranged the sale of an 11-acre parcel of land for future development in Buffalo Grove, approximately 33 miles northwest of Chicago. Ridgeline Property Group purchased the land for an undisclosed price. The developer plans to build a 157,000-square-foot speculative industrial building on the site. Once completed, the facility will feature 32-foot clear heights, 36 exterior docks, four drive-in doors and 173 parking spots. The property will be located at 850 Asbury Drive. Zach Graham and Ryan Bain of CBRE were the sole brokers in the transaction.

May 11, 2016

Illinois Industrial Midwest

Principle Construction Breaks Ground on 348,000 SF Industrial Expansion in Illinois for Winpak

by Christina Cannon May 10, 2016

SAUK VILLAGE, ILL. — Principle Construction Corp. has broken ground on a 348,000-square-foot industrial expansion in Sauk Village, approximately 30 miles south of Chicago. Winpak Portion Packaging Inc. occupies the existing 267,000-square-foot building and will occupy the new space as well. The expansion will include a 197,000-square-foot warehouse, 137,950-square-foot production area, an amenity area, maintenance storage, break room, washrooms, mechanical utility room, trucker’s room, shipping office and a plant grinding room. The facility, located at 1111 Winpak Way, will add a second rail spur, 12 storage silos, two new 4000 amp electrical services, 150 parking stalls, 25 trailer stalls, 20 truck dock loading doors and an exterior drive-in door. Winpak Portion Packaging is a manufacturer and distributer of packaging materials. In addition to constructing the expansion, Principle will also work on several upgrades to the older facility. Harris Architects will provide architectural services.

May 10, 2016

Illinois Industrial Midwest

CBRE Arranges 213,141 SF Industrial Lease in Northwest Chicago Suburb

by Christina Cannon May 10, 2016

GURNEE, ILL. — CBRE has arranged a 213,141-square-foot industrial lease in Gurnee, approximately 40 miles northwest of Chicago. Handi-Foil Corp. will occupy the space at 5650 CenterPoint Court. The facility, situated on 10.3 acres, features 9,809 square feet of office space, 12 interior docks, 65 parking spaces and has capacity for a full drive-thru at each end of the site. Ryan Bain and Zach Graham of CBRE represented the landlord, Centerpoint Properties, in the transaction. Keith Puritz and Brett Kroner of Avison Young represented the tenant.

May 10, 2016

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 41,350 SF Industrial Building in Milwaukee

by Christina Cannon May 10, 2016

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 41,350-square-foot industrial building in Milwaukee for an undisclosed price. DDE Enterprises LLC purchased the building, located at 5501 and 5407 W. Mill Road, from INX International Ink Co. Nick Keys of The Dickman Company represented the buyer in the transaction, and Tony Haning of JLL represented the seller.

May 10, 2016

Features Hospitality Industrial Multifamily Office Retail Top Stories

U.S. Commercial Property Values See 7 Percent Annual Growth, According to Ten-X

by Haisten Willis May 10, 2016

IRVINE, CALIF. — Commercial real estate values in the United States increased by 7 percent from April 2015 to April 2016, according to Ten-X, an online real estate marketplace. The company has released its latest Commercial Real Estate (CRE) Nowcast. The pricing index, which combines Google Trends data, Ten-X’s proprietary transaction data and investor surveys to forecast CRE pricing trends in real time, reveals that commercial valuations increased by 0.6 percent month-over-month in April and are back above their year-end 2015 level. The Ten-X CRE Nowcast (formerly the Auction.com CRE Nowcast) is a price index covering the entire U.S. commercial market, including individual price trends for the office, apartments, retail, industrial and hotel sectors. “Even though the April all-sector increase is significantly stronger than the prior month’s slight gain of 0.2 percent, this still is the slowest annual growth rate from pricing for the cycle,” says Ten-X chief economist Peter Muoio. “April’s uptick in growth was seen across all major CRE sectors except hotel, where that segment’s fundamentals, as well as its pricing, continue dwindling. Meanwhile, the multifamily sector displayed the strongest pricing trends with a 1.8 percent gain in April.” The Ten-X Hotel Nowcast dipped 1 percent from March …

May 10, 2016

Industrial Midwest Wisconsin

Majestic Realty Co. to Develop 424,164 SF Speculative Industrial Building South of Milwaukee

by Christina Cannon May 9, 2016

PLEASANT PRAIRIE, WIS. — Majestic Realty Co. will develop a new 424,164-square-foot industrial facility at its Majestic Badger Logistics Center in Pleasant Prairie, approximately 40 miles south of Milwaukee near the Illinois border. The speculative building is the first of two new facilities that will add over 1.2 million square feet of space to the 88-acre site. The property will feature 36-foot clear heights, 50-by-52 foot bays, an ESFR sprinkler system, 111 trailer parking stalls, 292 car parking spaces and a 370-foot combined truck courtyard. The Class A building can accommodate four tenants and will be delivered by the end of this year.

May 9, 2016

Illinois Industrial Midwest

All American Containers of the Midwest Signs 51,624 SF Industrial Lease in Chicago Suburb

by Christina Cannon May 9, 2016

LIBERTYVILLE, ILL. — All American Containers of the Midwest has signed a long-term industrial lease for a 51,624-square-foot space at Bridge Point 94 Building 1 in Libertyville, approximately 40 miles northwest of Chicago. The lease brings the facility, located at 851-899 E. Park Ave., to 49 percent occupancy. Bridge Development Partners LLC, which delivered the building in the summer of 2015, is the landlord. All American Containers of the Midwest is expanding from a current location in Lake Forest, Ill. Keith Puritz of Avison Young, as well as Rob Wheeler, Juan Rodriguez and Sky Groden of Cresa, represented the tenant in the transaction. John Hauser, Michael Fonda and Hugh Williams of Avison Young represented Bridge Development.

May 9, 2016

Industrial Maryland Office Southeast

Cambridge Property Group Sells Flex Facility in Metro D.C. for $12.9M

by John Nelson May 9, 2016

LANHAM, MD. — Cambridge Property Group LLC has sold a 142,810-square-foot flex building located at 10201 Good Luck Road in Lanham, a city roughly 13 miles outside of Washington, D.C. The Washington Metropolitan Area Transit Authority purchased the property for approximately $12.9 million. Cambridge Property Group developed the office and distribution building in 2005 as a build-to-suit for the General Services Administration on behalf of a tenant client, which occupied the property continuously until December 2015. William Czekaj, Ingo Mayr and Benjamin Eldridge Jr. of Cambridge Property Group negotiated the transaction on behalf of developer client CA/Development Associates LLC.

May 9, 2016

Industrial Market Reports Southeast Southeast Market Reports Tennessee

The ‘Maker Economy’ Joins Industrial Giants in Nashville Market

by John Nelson May 9, 2016

Beretta, Nissan, General Motors, Electrolux and Hankook Tire are a few manufacturing giants that call Middle Tennessee home. Expanding the manufacturing presence throughout 2015, 29 advanced manufacturing companies announced relocations or expansions in Middle Tennessee. Of that total, six companies revealed plans to create a combined 710 jobs and occupy more than 1 million square feet during the fourth quarter of 2015 alone. Nashville’s central location, skilled workforce and labor cost advantages continue to make the market a magnet for manufacturing companies. Unsurprisingly, in its Emerging Trends in Real Estate 2016 report, Urban Land Institute named Nashville the “No. 7 U.S. Market to Watch for 2016” and an “18-Hour City.” Additionally, Nashville’s low cost of doing business and consistent job and population growth favor the industrial market, and the pipeline for talent across all multiple industries remains full. Nashville’s industrial market is firing on all cylinders — with record low vacancy rates and historically high rents, which is driving robust speculative warehouse development. Interestingly, a new trend is occurring that is breaking the paradigms of traditional industrial space use — the appearance of the maker economy. These “makers” are modern, small-scale manufacturers that “are emerging as a revitalizing force in …

May 9, 2016

Illinois Industrial Midwest

Bridge Development Partners Leases 194,000 SF of Industrial Space to Three Tenants

by Christina Cannon May 6, 2016

MCCOOK, ILL. — Bridge Development Partners LLC has signed up three new tenants for a combined 194,000 square feet of space at Bridge Point McCook II. The leases bring the facility located at 8401 W. 47th St. in McCook, approximately 15 miles southwest of Chicago, to 86 percent occupancy. DHL Express USA Inc., a postal and logistics company, signed a deal for 36,440 square feet. Mark Baumhart and Jeanne Rogers of Arthur J. Rogers & Co. represented DHL. In the second deal, Video Equipment Rentals LLC, an AV, audio, broadcast and computer equipment rental company, inked a deal for 94,152 square feet and was represented by Sam Durkin of JLL. In the last transaction, an undisclosed international tire manufacturer signed a lease to occupy a 64,057-square-foot space. Vern Schultz of Colliers International represented Bridge Development in all three transactions.

May 6, 2016

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