LAS VEGAS — Alston Construction has completed a 68,875-square-foot, built-to-suit facility for 3G Productions in Las Vegas. The new facility is located on 5.4 acres at the corner of Euclid Avenue and Russell Road. The firm completed a 51,400-square-foot concrete tilt up building with a 16,875-square-foot steel/concrete deck mezzanine to be used in the future by the owner. PFIILP Eastern Russell 70 LLC owns the $9 million project. 3G Production will offer the facility as a corporate event venue.
EASTCHESTER, TUCKAHOE AND GREENBURGH, N.Y. — Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has arranged an $8.9 million permanent loan secured by three properties in Westchester County, N.Y. The borrower is a long-term owner of the properties, which include a retail strip center in Eastchester and two warehouse/industrial buildings in Tuckahoe and Greenburgh. The warehouse buildings are net-leased to Verizon. Jeanne Cronin of Q10 secured the five-year loan, which features a 30-year amortization schedule, through a community bank for the borrower.
MILWAUKEE — Unique Delivery Service Inc. has signed a 27,000-square-foot industrial lease in Milwaukee. The courier service company will occupy the building located at 4122 S. 13th St. Jonas Family Limited Partnership was the landlord. TJ Huenerbein and Cale Berg of the Dickman Co. Inc. brokered the lease transaction.
Jacksonville’s industrial market continues to improve as encouraging fundamentals are in place that are prompting developers to commit to building spec warehouse again. The lack of new construction over the last eight years, the expected reduction in regulations and taxes by the new administration in Washington and the commitment to upgrades in the local infrastructure will drive growth in our market. A 5.3 percent vacancy rate for warehouses and distribution space is also a major factor. With 126 million square feet of existing warehouse space spread over 860 square miles, our market has room to grow. Recent announcements of major expansions coming to Jacksonville include Amazon, General Electric and UPS. Amazon will occupy 2.5 million square feet in North Jacksonville and will have the largest impact on employment in the history of the city. General Electric is leasing 500,000 square feet in Hillwood’s Cecil Commerce Center. Situated on Jacksonville’s Westside adjacent to Pattillo’s Westside Industrial Park, UPS is adding 260,000 square feet to its existing 560,000-square-foot facility. When completed in the fall of 2019, the 820,000-square-foot facility will be able to process more than 80,000 packages per hour. Jacksonville is a tier-two market nationally and typically has a few large-scale …
HARRIMAN, N.Y. — NAI James E. Hanson has brokered the sale of an industrial building, located at 2 Bailey Farm Road in Harriman. Contract Packaging Services acquired the 96,500-square-foot property from Why Associates for an undisclosed price. Situated on 20 acres, the property features five loading docks and 80 parking spaces, as well as the option for a 100,000-square-foot expansion. The buyer exercised its purchasing option on the property after completing a five-year lease at the location. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the seller in the deal.
ORLANDO, FLA. — Cushman & Wakefield has brokered the $67.1 million sale of four Class A warehouse and distribution buildings in Orlando totaling 946,379 square feet. The portfolio includes Beachline Distribution Center I and II and Crossroads Business Park V and VI. The buildings were fully leased at the time of sale to tenants including FedEx Smartpost, Dusobox, McKesson, Mattress One, Petco and US Mattress Depot. Each building offers front-load and cross-dock capabilities, tilt-wall construction, 26- to 30-foot clear heights, fire safety systems, parking and 120- to 150-foot truck courts with 55-foot concrete aprons. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, a state pension fund advised by L&B Realty Advisors LLP. Los Angeles-based Colony NorthStar acquired the assets through its Dallas-based industrial fund, Colony Industrial. The transaction is the largest multi-tenant industrial portfolio sale in Orlando’s history in terms of square footage, according to Cushman & Wakefield. — Katie Sloan
BELOIT, WIS. — Staples has leased 136,000 square feet of industrial space at 1 Reynolds Drive in Beloit in southern Wisconsin. The company plans to relocate its larger bulk items to the new space, freeing up much-needed space at its distribution center in the Gateway Business Park also in Beloit. Staples will join TreeHouse Foods Inc., Axium Foods and Serta Mattress Co. at the 422,700-square-foot building. Only 18,000 square feet remain vacant and available for lease. Bill Mears of Coldwell Banker Commercial McGuire Mears & Associates is the listing broker for the property. Mears represented the landlord, Todd Kaiser, in the transaction. Chase Brieman of CBRE represented Staples.
KANSAS CITY, KAN. — Capital Electric Construction Co. Inc. has signed a 50,296-square-foot industrial lease to consolidate its regional headquarters in Kansas City. The company currently operates out of the Rivergate Building at 600 Broadway as well as warehouse space on Dodge Street in the Fairfax District. The new location will house all local operations at 627 Adams St., and is expected to open in July. Bob Fagan, Matt Eckert and Joe Orscheln of CBRE represented Capital Electric Construction in the lease transaction. Paul Neal of Grindstone Properties represented the landlord, Prime Investments. Capital Electric Construction is a wholly owned subsidiary of MDU Construction Services Group Inc. in North Dakota.
EASTVALE, CALIF. — Amazon has leased a 1 million-square-foot logistics center in Eastvale. Located within a 205-acre, mixed-use development, the new space will offer a variety of space options, including distribution, business park, retail and medical. It will be situated directly off the Cantu-Galleano Ranch Road Exit on the I-15. Amazon is scheduled to occupy the new facility in 2018. Goodman Group will build Goodman Commerce Center Eastvale.
LAS VEGAS — The Freeman Storage Container Facility in Las Vegas is set to undergo a $3.5 million expansion. The additional 10,000 square feet will include a marshaling yard on the adjacent land. The project is located on seven acres and is scheduled for completion in June. Construction of the existing facility was completed by Alston Construction in October 2015. The developer was Panattoni Development Co. and the owner is Ponderosa Yard LLC.