SAUKVILLE, WIS. — Aquarius Technologies has signed a 21,740-square-foot industrial lease in Saukville, about 25 miles north of Milwaukee. The wastewater treatment solution company will occupy the property located at 420 Technology Way. Nick Keys of the Dickman Co. Inc. represented the tenant, while Stephen Provancher and Brett Garceau of NAI MLG Commercial represented the landlord, Technology Way LLP.
LOS ANGELES — Goldman Sachs Asset Management (GSAM) Private Real Estate has purchased a 161,610-square-foot distribution center in the Mid Counties submarket of Los Angeles for an undisclosed sum. The Class A facility is located at 12252 Whittier Blvd. The property is fully leased to one tenant. John Repstad and Mark Repstad of Realty Advisory Group represented both the buyer and seller, Terreno Realty Corp., in this transaction.
DENVER — Inline Distributing Co. has purchased its new 69,550-square-foot industrial facility at Crossroads Commerce Park in Denver. The building is situated along 52nd Avenue just west of Washington Street in unincorporated Adams County. Construction on the facility commenced last fall. It was completed in early June. Murray & Stafford was the general contractor, while Ware Malcomb acted as architect. JLL’s Nick Steitz represented the construction products supplier, while NKF’s Mike Wafer, Tim D’Angelo and Mike Wafer Jr. represented the seller, Trammell Crow Co., in this transaction.
AUSTIN, TEXAS — Bellomy & Co. has arranged the sale of South Congress Storage, a 447-unit self-storage facility in Austin. Situated on 6.5 acres at 8008 S. Congress Ave., the 10-building facility spans 39,410 square feet of net rentable space. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed seller and procured the buyer, Devon Self Storage. Both parties involved in the transaction are based in California.
HOUSTON — MenMar Properties LLC has acquired a 21,000-square-foot building with office and warehouse space located at 4202 Telephone Road in Houston. The property will be leased to Fiesta Beverage Mart for retail and storage purposes. Barrett Von Blon of Davis Commercial represented the seller, City Office Supply Inc., in the transaction.
BUFFALO GROVE, ILL. — The Missner Group has acquired a 121,000-square-foot industrial property in Buffalo Grove. The purchase price was not disclosed. The property is located at 900-950 Busch Parkway within the Corporate Grove Business Park. Originally built in 1985 as a 50,000-square-foot corporate headquarters property, 900-950 Busch Parkway is situated on 8.8 acres and was expanded by 71,000 square feet in 1999. Today, the building is primarily occupied by two tenants, Rockin’ Jump Indoor Trampoline Park and The Pillow Factory. A 6,000-square-foot executive office suites area, located on the second floor of the building, is fully leased to three office tenants. The property features 26-foot clear heights, five truck docks and two drive-in doors. Barry Missner and Ed Adler of The Missner Group led the acquisition on behalf of the company. Brett Kroner of Cushman & Wakefield represented the seller. Developed by Van Vlissingen and Co., Corporate Grove Business Park is a 200-acre business park consisting of over three million square feet of office and industrial space.
LEWISBERRY, PA. — Cushman & Wakefield has brokered the sale of Fairview Industrial Park, a six-building industrial park located in Lewisberry. Richmond, Va.-based Allegiancy sold the 270,168-square-foot park to Louisville, Colo.-based Real Capital Partners for $11.7 million. The buildings are located at 509, 515 and 540 Industrial Drive and 621, 629 and 631 Distribution Plaza. Gerry Blinebury, Robert Yoshimura, Joseph Hill Jr. and Pat McBride of Cushman & Wakefield represented the seller in the deal.
FENTON, MO. — Hilliker Corp. has brokered the sale of a 32,500-square-foot industrial building in Fenton, a suburb of St. Louis, for $1.7 million. The property is located at 255-273 Wolfner Drive near I-44. The multi-tenant building was 80 percent occupied at the time of sale. Scott Martin of Hilliker represented the seller, Future 44 Co. LLC, while The Johnson Group represented the buyer, E. B. Holdings LLC.
A common baseball analogy that explains where we are in the real estate cycle is “What inning are we in?” Regardless of the inning, in North Texas we’re just hoping it’s the first game of a doubleheader! The first quarter of 2017 was another respectable one for leasing activity in the Dallas-Fort Worth (DFW) industrial market. Total absorption for all properties was 5.5 million square feet, with 6 percent vacancy across 786.5 million square feet of industrial space. New supply totaled 6.6 million square feet for the first quarter. Just over 8 million square feet of new construction is underway in DFW, with 15 million square feet designated “big box,” or more than 200,000 square feet. Big box experienced absorption of 4.6 million square feet in the first quarter, despite having only 3.8 million square feet of new supply. The metroplex has been the beneficiary of some very large lease signings. Amazon alone is responsible for multiple leases totaling several million square feet. UPS recently leased a 1 million-square-foot property in Arlington, and Ashley Furniture announced the purchase of 358 acres in Mesquite for an 850,000-square-foot design/build distribution facility. In addition, a 1.4 million–square-foot, build-to-suit lease by a well-known real …
MIAMI — Amazon plans to expand its Florida presence with a new 800,000-square-foot fulfillment center in Miami. Situated within Carrie Meek International Business Park, a speculative industrial development at the Miami-Opa Locka Executive Airport, the project will be Amazon’s 10th facility in Florida. Foundry Commercial and Clarion Partners executed the lease with Amazon, which expects to employ more than 1,000 workers at the new facility. Carrie Meek International Business Park is a public-private partnership between the Carrie Meek Foundation, Foundry Commercial and Miami Mayor Carlos Gimenez’s office. The property will utilize automated processes supported by Amazon Robotics, a Massachusetts-based manufacturer of robotic fulfillment systems. The new fulfillment center will bring Amazon’s workforce in Florida to more than 7,500.
