Industrial

Jackson-Shaw, Clarion Partners to Develop 683,000 SF Industrial Property in Irving

by Haisten Willis April 25, 2016

IRVING, TEXAS — National real estate developer Jackson-Shaw, in partnership with Clarion Partners, will develop Parc GSW, a Class A industrial park in Irving. The 50-acre, 682,491-square-foot development is situated within Dallas/Fort Worth’s Great Southwest Industrial District (GSW). The two-building development is designed to cater to a wide variety of users ranging in size from 100,000 to 682,491 square feet. The industrial park is slated for completion in the fourth quarter of 2016. Parc GSW will be located near DFW International Airport and provide access to Highway 161. Brett Owens, John Brewer and Ben Phillips with Transwestern will lease the property to industrial users. Building A will span 450,800 square feet with 36-foot clear heights, 255 parking spaces, 96 dock-high doors, a 185-foot truck court, two drive-in doors, an ESFR sprinkler system and cross-dock configuration. Building B will span 232,500 square feet with 32-foot clear heights, 109 parking spaces, 38 dock-high doors, two drive-in doors, an ESFR sprinkler system and front-load configuration.

April 25, 2016

Senate Construction to Build 615,600 SF Distribution Center in Massachusetts

by Amy Works April 25, 2016

WORCESTER, MASS. — Owner/developer 150 Blackstone River Road LLC has selected Senate Construction Corp. to build a 615,600-square-foot distribution center in Worcester. Located at 150 Blackstone River Road within the Quinsigamond Village area, the multi-use high-bay industrial building is slated for occupancy by year’s end. Imperial Distributors Inc. will occupy 325,000 square feet of the new facility. The redevelopment project will receive $5.4 million in tax breaks from the city over a 15-year period.

April 25, 2016

Industrial New York Northeast

Cushman & Wakefield Brokers $24M Sale of Waterfront Development Site in the Bronx

by Amy Works April 25, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a 10.5-acre waterfront development site located at 1110 Oak Point Ave. in the Hunt’s Point neighborhood of the Bronx. The asset sold for $24 million. The L-shaped irregular lot offers 874,685 square feet of buildable square footage and 1,000 feet of frontage along the East River. The site currently features a 68,787-square-foot building, which was vacant at the time of sale. The site is within a M3-1 zoning district, which allows for heavy industrial uses. James Nelson, Nick Burns and Ben Fox of Cushman & Wakefield represented the seller, while Tom Cisco of Feinberg Bros Agency represented the buyer in the all-cash transaction. The names of the seller and buyer were not released.

April 25, 2016

Florida Industrial Southeast

Cite Partners Brokers $14M Sale of 199,100 SF Industrial Facility in Orlando

by John Nelson April 25, 2016

ORLANDO, FLA. — Cite Partners has brokered the $14 million sale of a 199,100-square-foot industrial facility located at 4473 Shader Road in northwest Orlando. First Industrial Realty Trust Inc., a Chicago-based REIT, purchased the asset from Panattoni Development Corp. LLC. Wilson McDowell, Matt Sullivan and Bobby Isola of Cite Partners LLC represented Panattoni in the transaction, and Rich Cavano of Cavano Realty LLC represented First Industrial. The deal is the largest industrial sale in Orlando by square footage and dollar amount so far this year.

April 25, 2016

Industrial Northeast Pennsylvania Top Stories

GE Opens First Phase of $400M Advanced Manufacturing Works Plant in South Carolina

by Nellie Day April 25, 2016

GREENVILLE, S.C. — GE (NYSE:GE) has opened the 125,000-square-foot Advanced Manufacturing Works (AMW) plant in Greenville. AMW is GE Power’s first advanced manufacturing facility. The facility will serve as an incubator for the development of advanced manufacturing processes and rapid prototyping of new parts for GE’s energy businesses. These include power, renewable energy, oil and gas, and energy connections. GE has invested $73 million in the facility to date and will invest another $327 million across the GE Power Greenville campus over the next several years. The new facility created approximately 80 engineering and manufacturing jobs, according to GE. The company broke ground on the facility in mid-2014. “This facility will ignite the digital industrial revolution for our company and the industry,” says Steve Bolze, GE Power’s president and CEO. “We’re building a skilled workforce and culture that’s devoted to delivering breakthrough innovations that deliver better, faster outcomes for our customers and unlock new productivity and growth.” GE entered the Greenville market more than 40 years ago with a 340,000-square-foot property. That site has now grown close to 1.7 million square feet of factories, offices and laboratories focused on manufacturing advanced products for worldwide distribution. GE has more than 3,200 …

April 25, 2016

Industrial Texas

B&C Manufacturing Leases Industrial Space in Metro Houston

by Haisten Willis April 22, 2016

CONROE, TEXAS — B&C Manufacturing has leased 2,700 square feet at Piney Woods Business Park, located at 3511 N. Loop 336 E. in Conroe. David Alexander of Newcor Commercial Real Estate represented the landlord, Kopke & Marek Investments, in lease negotiations.

April 22, 2016

Industrial Top Stories

W. P. Carey Acquires 49-Property Industrial Portfolio in Sale-Leaseback Transaction for $217M

by Christina Cannon April 22, 2016

NEW YORK CITY — W. P. Carey Inc. (NYSE: WPC) has acquired a 4 million-square-foot industrial portfolio for $217 million. The portfolio consists of 43 assets in the United States totaling 3.5 million square feet and six properties in Canada totaling 500,000 square feet. The buildings were purchased in a sale-leaseback transaction with wholly owned subsidiaries of Forterra Building Products, a manufacturer of concrete and clay building products. The properties each feature a 20-year triple net lease that includes fixed annual rent escalations of 2 percent. The facilities include offices, concrete manufacturing, concrete quality control testing and storage facilities. “Providing steady, predictable cash flows, compelling returns and annual rent escalations, the investment is also supported by the long-term lease and the strength of Forterra’s guarantee,” says Gino Sabatini, managing director and head of net lease investments for W. P. Carey. “Consistent with our established investment criteria, we believe the acquisition is a sound addition for W. P. Carey Inc.’s portfolio, which extends its weighted average lease-term and is accretive to cash flow.” Brian Scott and Andrew Sandquist of CBRE represented Forterra in the transaction. New York-based W. P. Carey Inc. is an internally managed net lease REIT specializing in corporate sale-leaseback, …

April 22, 2016

Industrial Texas

Amazon to Open Distribution Center in Metro Dallas

by Haisten Willis April 21, 2016

HASLET, TEXAS — Amazon Inc. plans to open its sixth Texas distribution center in the Dallas suburb of Haslet. The company employs more than 8,000 full-time hourly associates at its Texas fulfillment centers and plans to hire 1,000 more full-time positions in the new Haslet facility. In addition to its existing Haslet facility, which began shipping customer orders in 2013, Amazon’s other Texas fulfillment centers are located in Coppell, southern Dallas and Schertz, with a fifth under construction in San Marcos. Amazon also operates three sortation centers in Texas, located in Irving, Houston and San Antonio.

April 21, 2016

Industrial Texas

Calcomp Moves Manufacturing Operations from California to Fort Worth

by Haisten Willis April 21, 2016

FORT WORTH, TEXAS — Calcomp Inc., a manufacturer of commercial aircraft engine composites, is moving its manufacturing operations from Santa Fe Springs, Calif., to Fort Worth. The company has selected a 25,000-square-foot manufacturing facility located in north Fort Worth near Loop 820 and Blue Mound Road. Calcomp will relocate to Fort Worth through a phased move from June to December. The company will relocate 15 employees from California and plans to hire between 30 and 35 locally.

April 21, 2016

Florida Industrial Southeast

Coca-Cola Beverages Florida to Acquire Four Production Facilities from The Coca-Cola Co.

by John Nelson April 21, 2016

TAMPA, FLA. — Coca-Cola Beverages Florida, an independent Coca-Cola bottler based in Tampa, has signed a letter of intent with The Coca-Cola Co. to acquire four production facilities in Hollywood, Jacksonville, Orlando and Tampa for an undisclosed price. The proposed acquisitions will give Coca-Cola Florida the ability to fully manage the production of Coca-Cola products that it currently distributes for Florida customers and consumers. In December 2015, Coca-Cola Florida signed letters of intent to acquire The Coca-Cola Co.’s sales and distribution operations in North and South Florida. The proposed acquisitions are subject to the parties reaching a definitive agreement, with closing for the North Florida operations expected in 2016 and closing for the South Florida operations expected in 2017. Coca-Cola Florida currently operates in Central Florida with seven sales and distribution locations in Tampa, Lakeland, Sarasota, Fort Myers, Fort Pierce, Sebring and Spring Hill. Following the completion of the North and South Florida territory expansions, Coca-Cola Florida’s operations will encompass 16 sales and distribution centers throughout Florida.

April 21, 2016

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