Industrial

Cushman & Wakefield Brokers $47.9M Sale of Industrial Park Near Orlando International Airport

by John Nelson October 31, 2016

ORLANDO, FLA. — Cushman & Wakefield has brokered the $47.9 million sale of LeeVista Business Center, a 479,100-square-foot, three-building warehouse and distribution park adjacent to Orlando International Airport. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Atlanta-based McDonald Development Co., in the transaction. Los Angeles-based Colony Capital purchased LeeVista Business Center, which was developed between 2009 and 2016 and was 84.4 percent leased at the time of sale to tenants such as Thales USA, ThyssenKrupp Industrial Services, Siemens Corp., Carrier and DHL Global Mail. The $100 per square foot price tag makes the transaction the record high per-square-foot sale of a multi-tenant warehouse and distribution project in Orlando.

October 31, 2016

Georgia Industrial Southeast

Clarion Partners, Seefried Break Ground on $25M Industrial Project in Metro Atlanta

by John Nelson October 31, 2016

BUFORD, GA. — Clarion Partners and Seefried Properties have started construction on Buford Mill Distribution Center, a $25 million industrial development in Buford, a northeast suburb of Atlanta. Situated on 43.1 acres near the Highway 20/I-985 interchange, the project will feature two distribution buildings totaling 422,140 square feet with 32-foot minimum clear heights, T-5 lighting and trailer parking. Clarion is co-developing the project on behalf of a commingled fund it manages.

October 31, 2016

Industrial Northeast Pennsylvania

J.G. Petrucci Co. Acquires 49,000 SF Industrial Building in Bethlehem, Pennsylvania

by Amy Works October 27, 2016

BETHLEHEM, PA. — J.G. Petrucci Co. has acquired a fully-occupied industrial building located at 1990 Highland Ave. within Lehigh Valley Industrial Park IV in Bethlehem, for an undisclosed price. Hygrade Components sold the property for $2.7 million in a sale-leaseback transaction. In 1996, J.G. Petrucci Co. completed the design/build of the property for Hygrade Components, which has signed a long-term lease for the property.

October 27, 2016

California Industrial Western

Bentall Kennedy Buys Anaheim Concourse Industrial Property for $188.2M

by Nellie Day October 27, 2016

ANAHEIM, CALIF. — Bentall Kennedy has purchased Anaheim Concourse, a 965,255-square-foot industrial property, for $188.2 million. The facility is situated on North Miller Street in Anaheim. The seven-building, Class A project was completed last year. The space is currently 86 percent leased. The lease rollover is staggered, with the first lease expiring in January 2021. CBRE’s Val Achtemeier arranged acquisition financing. The firm’s Darla Longo, Barbara Emmons, Michael Kendall, Rebecca Perlmutter, Brad Bierbaum and Ryan Peterson represented the sellers, Panattoni and Clarion Partners, on behalf of a separate account managed by the firm.

October 27, 2016

Industrial Texas

AmeriPac Leases Second Industrial Facility in Dallas

by Haisten Willis October 27, 2016

DALLAS — AmeriPac Inc., a contract packaging and fulfillment company, has leased a 119,717-square-foot industrial facility at 1000 N. 28th Ave. in Dallas. The property is a part of the company’s expansion and will be used in conjunction with its current facility, which is located directly across the street. The new facility, located at DFW International Airport, features 10,709 square feet of office space, 30-foot clear heights and 22 dock-high loading doors. The space will also be 100 percent climate controlled. The Cushman & Wakefield team of Blake Anderson and David Eseke negotiated the lease on behalf of AmeriPac.

October 27, 2016

Industrial Southeast Virginia

NGKF Arranges 143,440 SF Industrial Lease Expansion in Alexandria

by John Nelson October 27, 2016

ALEXANDRIA, VA. — Newmark Grubb Knight Frank (NGKF) has arranged a 143,440-square-foot industrial lease expansion in Plaza 500, a two-story, 500,800-square-foot industrial property located at 6295 Edsall Road in Alexandria. The owner, First Potomac Realty, signed Paxton Van Lines Inc. to the lease, which increases the moving and storage company’s footprint in Plaza 500 by 36,127 square feet. Larry Fitzgerald of NGKF represented Paxton Van Lines in its original lease at Plaza 500 three years ago and also represented the company in its expansion. Additionally, Fitzgerald represented Paxton Van Lines in its recent $3.6 million sale of 32 acres in Manassas, Va., which is slated to be home to a new data center. With the expansion, Paxton Van Lines is now the largest tenant at Plaza 500.

October 27, 2016

Industrial Midwest Ohio

Schueler Group Nears Completion of Shell Construction for Bank’s Operations Center in Lebanon, Ohio

by Kristin Harlow October 27, 2016

LEBANON, OHIO — Schueler Group has nearly completed the shell construction of a $13 million build-to-suit corporate operations center for LCNB National Bank in Lebanon. Located at 105 North Broadway, halfway between Cincinnati and Dayton, the three-story building will measure 47,000 square feet. Construction began in February 2016 and is expected to be complete by late February 2017. LCNB National Bank serves customers and communities in southwest and south central Ohio.

October 27, 2016

Illinois Industrial Midwest

Meridian Starts Construction on 421,403 SF Speculative Industrial Project in Bartlett, Illinois

by Kristin Harlow October 27, 2016

BARTLETT, ILL. — Meridian Design Build has started construction on a new 421,403-square-foot speculative industrial building for Exeter Property Group in Bartlett, a northwest suburb of Chicago. The new facility will be located on a 34-acre site within Brewster Creek Business Park. The multi-tenant building, which features a 32-foot clear height, is designed to accommodate up to four tenants, 117 loading docks, four drive-in doors, 449 auto parking stalls and 110 exterior trailer stalls. Harris Architects is providing architectural services, while V3 Cos. is completing civil engineering work.

October 27, 2016

Connecticut Industrial Northeast Office

O,R&L Commercial Arranges Sale of 28,712 SF Industrial/Office Building in East Haven, Connecticut

by Amy Works October 26, 2016

EAST HAVEN, CONN. — O,R&L Commercial has arranged the sale of the former Connecticut Food Bank building, located at 150 Bradley St. in East Haven. Mario Luciani acquired the 28,712-square-foot industrial and office property for an undisclosed price. The buyer plans to use the building as headquarters for his ServPro franchises. Frank Hird and Tim McMahon of O,R&L Commercial represented the undisclosed seller, while Natuzza Dimasi of William Raveis Real Estate represented the buyer in the transaction.

October 26, 2016

Industrial Iowa Midwest

Hubbell Begins Construction on 110,000 SF Distribution Center in Grimes, Iowa

by Katie Sloan October 26, 2016

GRIMES, IOWA — Hubbell Realty Co. has begun construction on the fourth industrial building at Grimes Distribution Center, located at 1300 SE Little Beaver Drive near Des Moines. The 110,000-square-foot facility will be identical to the three other buildings. Grimes Distribution Center 4, located minutes from I-80/35 via Iowa Highway 141, has the ability to accommodate tenant space requirements in 10,000-square-foot increments, complete with a 24-foot clear ceiling height. The building is scheduled to be ready for occupancy in June 2017. Similar to the first three buildings, Grimes Distribution Center 4 will contain eleven 10,000-square-foot bays that measure 50-by-200 feet. Each bay will feature a 9-by-10 foot dock, and four of the bays will have 16-foot drive-in doors. The building will be fitted with an early suppression fast response (ESFR) fire sprinkler system; a 480-volt, three-phase 2,500 amp electric service; and T-8 fluorescent lighting.

October 26, 2016

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