Industrial

UPS Leases 273,640 SF Industrial Building in Southwest Suburb of Chicago

by Christina Cannon April 12, 2016

LOCKPORT, ILL. — UPS has leased a 273,640-square-foot building within Panattoni Development Co.’s recently delivered 355 Corporate Center in Lockport, approximately 35 miles southwest of Chicago. The facility features 65 docks, four drive-in doors and parking for 268 cars. UPS leased the first of two buildings delivered within the industrial park. The second building is 228,690 square feet and includes 65 docks, four drive-in doors and parking for 240 cars. Both buildings also feature 32-foot clear heights and ESFR sprinkler systems. Frank and Matt Minik of Jupiter Realty Services represented UPS in the transaction. Mark Barbato and Adam Stokes of Nicolson, Porter & List represented Panattoni Development Co.

April 12, 2016

Industrial Maryland Southeast

Prospective Medical Cannabis Grower Buys Industrial Facility in Maryland for $1M

by John Nelson April 12, 2016

HEBRON, MD. — CannaMed Pharmaceuticals LLC, a prospective licensee for one of only 15 medical cannabis growing licenses to be issued in Maryland, has purchased an industrial facility in Hebron. The 47,226-square-foot property is located at 27120 Ocean Gateway and was previously leased to Matech. John McClellan of SVN | Miller Commercial Real Estate brokered the transaction. The state of Maryland is expected to issue CannaMed’s license this summer. The business plans to use 35,000 square feet of the property to house its growing facility and the remaining square footage for research and development of medical cannabis.

April 12, 2016

Industrial New Jersey Northeast

Prologis Signs Fedway Associates to 539,000 SF Build-to-Suit Lease in New Jersey

by Amy Works April 12, 2016

ELIZABETH, N.J. — Prologis has entered into a build-to-suit lease agreement with Fedway Associates, a wine and spirits distributor. The company will occupy a 539,000-square-foot stand-alone building at Prologis Ports Elizabeth-Seaport at 10 North Ave. East in Elizabeth. Located off Exit 13A on the New Jersey Turnpike, the distribution center will feature a 539,308-square-foot building and a planned 204,253-square-foot facility.

April 12, 2016

Industrial New York Northeast

Gabrielli Truck Sales Purchases 5.1-Acre Land Tract Near JFK International Airport for $7.8M

by Amy Works April 12, 2016

NEW YORK CITY — Gabrielli Truck Sales Ltd. has acquired a 5.1-acre land tract adjacent to John F. Kennedy International Airport in Queens. Philips International sold the site for $7.8 million. The buyer plans to construct a facility for its own use on the site. Michael Nachamkin and Evan Pariser of HFF represented the seller in the transaction.

April 12, 2016

Industrial Utah Western

ExtraSpace Signs 50-Year, 42,197 SF Lease at New Facility in Utah

by Nellie Day April 11, 2016

HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.

April 11, 2016

hillwood-bnsf-railway-packwell-alliance-texas

Industrial Texas

Hillwood, BNSF Railway and Packwell to Build Industrial Facility at AllianceTexas

by Haisten Willis April 11, 2016

FORT WORTH, TEXAS — Hillwood, BNSF Railway and Packwell plan to build a plastics export packaging facility in the rail-connected Alliance Westport industrial sector, located within Hillwood’s AllianceTexas development in north Fort Worth. The facility will be part of a global supply chain route enabling Packwell, a Gulf Coast resin packager, to ship containerized plastic resins to end users utilizing ocean steamship lines that are affiliated partners with BNSF. The steamship lines operate between the BNSF Alliance Intermodal terminal and Asia via West Coast ports in Los Angeles, Long Beach and Oakland, Calif. BNSF trains will deliver bulk covered hopper cars from new and expanded Gulf Coast plastics production facilities to Packwell’s new facility at AllianceTexas. Packwell will package the bulk resin and dray loaded containers to the BNSF ramp. The loaded containers will be delivered utilizing a heavy-load corridor from the Packwell’s packaging facility to BNSF’s Alliance Intermodal Terminal, located less than a mile away.

April 11, 2016

Industrial Texas

Polyglass U.S.A. to Establish Manufacturing Operations in Waco

by Haisten Willis April 11, 2016

WACO, TEXAS — Polyglass U.S.A. plans to establish a manufacturing operation in Waco. The company will invest $19 million to build a 145,000-square-foot industrial facility at 1701 Exchange Parkway to produce modified bitumen roofing membranes. Employment is expected to reach 45 full-time associates within the first three years of operation. The Polyglass roofing facility in Waco will produce a waterproof membrane system used for commercial and industrial roofing systems. The membrane system is designed to increase roof life expectancy and is also environmentally friendly and energy efficient. The company will receive a grant from the Waco/McLennan County Economic Development Corp., as well as tax abatement participation by the city and county.

April 11, 2016

7748 Palmetto Commerce Parkway North Charleston

Industrial South Carolina Southeast

Lineage Logistics Opens 180,000 SF Cold Storage Distribution Center in North Charleston

by John Nelson April 11, 2016

NORTH CHARLESTON, S.C. — Lineage Logistics LLC, a warehousing and logistics company backed by investment firm Bay Grove, has opened its 180,000-square-foot cold storage distribution center in North Charleston. The property is located at 7748 Palmetto Commerce Parkway within Palmetto Commerce Park. Lineage Logistics worked with the South Carolina Ports Authority to facilitate the new property. Norfolk Southern provides rail service to the facility, which features 30 truck doors, four rail doors and parking for 100 cars.

April 11, 2016

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Raleigh’s Industrial Market Experiences Fifth Consecutive Year of Growth

by John Nelson April 11, 2016

A rebounding economy and robust population growth are driving strong fundamentals across all segments of Raleigh-Durham’s commercial real estate industry. The region added 30,105 jobs during the 12 months ending September 2015, a growth rate of 3.1 percent. Users of all product types are facing rising occupancy costs and fierce competition for quality space. The Raleigh-Durham industrial market experienced positive net absorption of 721,185 square feet through the first three quarters of 2015, marking the sector’s fifth consecutive year of expansion. Increased tenant demand, combined with a lack of new construction, has driven vacancy back to pre-recession levels. Overall vacancy for warehouse and flex space ended the third quarter at 7.5 percent, down by 130 basis points year-over-year. Warehouse vacancy fell by 160 basis points to 6 percent during the same period and is down from a cyclical high of 10.2 percent. Flex vacancy ended the third quarter at 11 percent, down by 60 basis points year-over-year and from a cyclical high of 16.5 percent. Leasing activity has been broad based, driven primarily by organic growth in the region’s existing tenant base. Among the industries fueling the largest transactions are third-party logistics, e-commerce, manufacturing and housing and construction. Finally back …

April 11, 2016

California Industrial Western

Industrial Building in Fremont Sells for $5.2M

by Nellie Day April 8, 2016

FREMONT, CALIF. — A private investor has purchased a 34,272-square-foot industrial building in Fremont for $5.2 million. The property is located at 48351 Lakeview Blvd., within the Bayside Business Park. The facility is situated near Tesla’s manufacturing plant. Rick Bland, Garrett Drew and Andrew Stoddard of Lee & Associates Oakland represented the seller, Cenco Investment LLC, in this transaction.

April 8, 2016

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