Industrial

Core5 Acquires 173 Acres to Develop 2.5 MSF Industrial Business Park in DeSoto County, Mississippi

by Kristin Harlow March 24, 2017

DESOTO COUNTY, MISS. — Atlanta-based Core5 Industrial Partners has acquired a 173-acre land site to develop DeSoto 55 Logistics Center, a 2.5 million-square-foot business and logistics park in DeSoto County, located just across the state border from Memphis, Tenn. Anticipated development costs will exceed $125 million, according to a news release from the developer. Core5 will immediately begin construction on two speculative buildings of office and warehouse space totaling 883,720 square feet. Both buildings are planned for delivery this fall. The 582,400-square-foot Building A is expandable up to 1.5 million square feet and will offer 36-foot clear heights, 98 trailer storage spaces and 342 car parking spaces. Building B, totaling 301,320 square feet, will feature 32-foot clear heights, 80 trailer storage spaces and 270 auto spaces. Located at U.S. Highway 51, the park will offer close proximity to the I-55 transportation corridor. Upon planned completion by the end of 2019, DeSoto 55 Logistics Center will accommodate over 2.5 million square feet in up to five separate buildings. The acquisition marks Core5’s entry into the greater Memphis market. “After an extensive review of potential development sites and interviews with local employers, it was clear that the location of DeSoto 55 Logistics …

March 24, 2017

Illinois Industrial Midwest

Clarius Partners to Develop 99,000 SF Industrial Building in Franklin Park, Illinois

by Kristin Harlow March 23, 2017

FRANKLIN PARK, ILL. — Clarius Partners LLC has unveiled plans for a 99,000-square-foot industrial building in Franklin Park, approximately 18 miles northwest of Chicago. The 6.2-acre property is located at 9300 King Ave. A joint venture between Clarius Partners and Wanxiang America Real Estate Group LLC purchased the site earlier this month. An existing 154,800-square-foot building will be demolished in order to construct the new speculative facility, which is scheduled for completion by the end of the year. The facility will feature 32-foot clear heights, 10 exterior docks, four drive-in doors and office space. Thomas Gath, Adam Marshall and Mark Deady of Newmark Grubb Knight Frank will market and pre-lease the property.

March 23, 2017

Illinois Industrial Midwest

XPO Last Mile, Vision Works Sign Industrial Leases Totaling 190,850 SF in Bolingbrook, Illinois

by Kristin Harlow March 23, 2017

BOLINGBROOK, ILL. — XPO Last Mile and Vision Works have renewed and expanded their industrial leases at One Gateway Court in Bolingbrook. The space was vacated by a previous tenant, then divided and split between the two current tenants to accommodate both expansions. Keeley Construction is providing construction services for the private owner. Russell Perry Real Estate represented XPO Last Mile in the renewal and expansion of 96,350 square feet, while KW Commercial represented Vision Works in the renewal and expansion of 94,500 square feet. David Prioletti of CBRE represented the landlord in the transaction.

March 23, 2017

Industrial Northeast

Saddleback Real Estate Developers Purchases Two Industrial Properties in Fairfield, N.J.

by Haisten Willis March 23, 2017

FAIRFIELD, N.J. — Saddleback Real Estate Developers has acquired two industrial properties in Fairfield. The first is a 22,000-square-foot asset at 22 Audrey Place, which is 100 percent occupied. The second is a 13,430-square-foot property located at 341 Kaplan Dr., which is scheduled for a renovation.

March 23, 2017

Florida Industrial Southeast

Beasley Negotiates $14.9M Sale of 775,864 SF Industrial Park in Greater Orlando

by Taylor Williams March 22, 2017

WINTER HAVEN, FLA. — Beasley Real Estate Services has completed the sale of Central Florida Business Park, a 775,864-square-foot industrial property located at 5300 Recker Highway in the Orlando suburb of Winter Haven. Situated on 52 acres, the property spans nine buildings ranging in size from 2,400 square feet to 297,000 square feet. Fred Beasley of Beasley Real Estate represented the seller, Legacy Capital Partners, a private equity investor based in Boulder, Colo., in the transaction. George Pjevach of Beasley procured the buyer, IS-CAN CFBP LO, a Montreal-based company. The buildings were 86 percent occupied at the time of sale.

March 22, 2017

Connecticut Industrial Northeast

Calare Properties Sells 200,000 SF Industrial Warehouse in Milford, Conn., for $13.3M

by Haisten Willis March 22, 2017

MILFORD, CONN. — Calare Properties has sold a 200,000-square-foot industrial property located at 40 Pepe’s Farm Road in Milford. An unnamed institutional buyer purchased the property for $13.3 million. Calare purchased the property in 2014 and made several upgrades including LED lighting and landscaping improvements. The entire property is leased to a transportation solutions company.

March 22, 2017

Industrial Loans Mixed-Use Multifamily New York Northeast Restaurant Retail

Houlihan Parnes Arranges $2.15M in Loans for New York Mixed-Use Properties

by Haisten Willis March 22, 2017

YONKERS & NANUET, N.Y. — Jeremiah Houlihan of Houlihan Parnes Realtors has arranged an $850,000 first mortgage loan for a mixed-use building located at 925-939 Yonkers Ave. in Yonkers. The property consists of a two-story building with the Clairmont Diner on the first floor and three apartments on the second floor, along with an attached one-story building containing an automobile service station. Houlihan also arranged a $1.3 million first mortgage loan for a retail center located at 148-164 E. Route 59 in Nanuet. Tenants include Empire State College, Sterling Optical and Bach-to-Rock music school. The 10-year loans were placed with Savings Banks with a 25-year amortization schedule.

March 22, 2017

California Industrial Western

Sares Regis Leases Four Industrial Buildings at Meredith International Centre in Ontario

by Nellie Day March 21, 2017

ONTARIO, CALIF. — Sares Regis Group has signed four new leases for distribution buildings within the Meredith International Centre in Ontario. The leases contain a total of 972,000 square feet. The project is situated on 150 acres near Ontario International Airport. All of the lease agreements range from five to 10 years. Five out of the seven buildings at the project are now fully leased. The two remaining buildings contain 575,000 square feet and 398,000 square feet. New leases were signed with international marketing, financial and technology service provider Arvato, which leased a 552,000-square-foot building; international air services provider Metro Air Service, which rented a 155,000-square-foot building; aftermarket automotive wheels and accessories maker and distributor the Wheel Group, which absorbed a 138,000-square-foot building; and transportation management solutions provider Metropolitan Logistics Services, which leased a 127,000-square-foot building. Joe McKay and Chris Morrell of Lee & Associates represented Sares Regis in the deals. Meredith International Centre totals 243 acres and includes plans for 1.1 million square feet of office and retail space and 800 apartments.

March 21, 2017

Industrial Loans New Jersey Northeast

G.S. Wilcox Secures $56M Financing for Industrial Portfolio in New Jersey

by Haisten Willis March 21, 2017

SOUTH BRUNSWICK, MOONACHIE & TETERBORO, N.J. — G.S. Wilcox & Co. has secured $56 million in financing for a six-building industrial portfolio located in South Brunswick, Moonachie and Teterboro. Al Raymond of G.S. Wilcox arranged the 12-year loan, which includes a 3.25 percent fixed interest rate. Thrivent Financial for Lutherans, one of the firm’s correspondent lenders, provided the financing.

March 21, 2017

Industrial North Carolina Office Southeast

CBRE Brokers Sale of 13-Building Portfolio in Greater Charlotte Area

by Taylor Williams March 21, 2017

CHARLOTTE, N.C. — CBRE has arranged the sale of the Charlotte Industrial Park Portfolio, a 13-property asset totaling 486,512 square feet of Class A office and warehouse space throughout the Charlotte area. Patrick Gildea, Anne Johnson and Bryan Crutcher of CBRE represented the seller, Maryland-based Artemis Real Estate Partners, in the transaction. At the time of sale, the Charlotte Industrial Park Portfolio was 95 percent occupied. Boston-based Albany Road Real Estate purchased the properties.

March 21, 2017

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