Industrial

CBRE/NE Facilitates $25.5M Sale of 252,600 SF Industrial Facility in Massachusetts

by Amy Works September 7, 2016

BELLINGHAM, MASS. — CBRE/New England has arranged the sale of a warehouse and distribution facility located at 150 Depot St. in Bellingham. An institutional investor, advised by Bentall Kennedy LP, acquired the property from National DCP for $25.5 million. The 252,600-square-foot property features dry storage, freezer/cooler space, 30-foot clear heights and ESFR sprinklers throughout the warehouse portion of the building. Dave Pergola, Brian Doherty and Robert Gibson of CBRE/NE represented the seller and procured the buyer in the transaction.

September 7, 2016

Industrial New Jersey Northeast

Terreno Realty Corp. Acquires Industrial Property in New Jersey for $9.1M

by Amy Works September 7, 2016

SOMERSET, N.J. — Terreno Realty Corp. has acquired an industrial property, located at 70 Schoolhouse Road in Somerset, for $9.1 million. Situated on 6.9 acres, the 86,000-square-foot building features 12 dock-high and one grade-level loading positions and parking for 61 cars. At the time of sale, the property was 100 percent leased to one undisclosed tenant.

September 7, 2016

Industrial New York Northeast

Cushman & Wakefield Brokers $6M Sale of Industrial Warehouse in Brooklyn

by Amy Works September 7, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of an industrial warehouse located at 214 40th St. in Brooklyn’s Sunset Park. An undisclosed buyer acquired the property for $6 million, or $437 per square foot. The 13,730-square-foot building features three drive-in garage bays with curb cuts, elevators, a new high-grade industrial hot water boiler, 3,000 amps of electricity and office space on the third floor. Aaron Warkov, Adam Ecker, Daniel Arnel and Michael Purcell of Cushman & Wakefield represented the undisclosed seller in the deal.

September 7, 2016

Industrial Midwest Wisconsin

First Industrial Realty Leases 601,439 SF Development at First Park 94 in Wisconsin

by Amy Works September 6, 2016

VILLAGE OF SOMERS, WIS. — First Industrial Realty Trust has signed a long-term tenant for its first building at First Park 94, a 601,439-square-foot industrial facility located in Village of Somers. The cross-docked facility features 36-foot clear heights, 185-foot truck courts, ample trailer parking, extensive dock-high loading, skylighting and an ESFR sprinkler system. The name of the tenant was not disclosed. Additionally, First Industrial is breaking ground for the second building at the park. The second building will total approximately 600,000 square feet with expandability. Upon completion, First Park 94 will accommodate 4.6 million square feet of development, including build-to-suits ranging from 150,000 square feet to 2 million square feet. The site is accessible to Interstate 94 from three four-way interchanges and offers frontage along the Canadian Pacific Railway with potential rail access. Whit Heitman, Sam Badger and Brad Weiner of NAI Hiffman, Roger Siegel of Dickman Co. and Tony Haning of JLL assisted with the lease transaction.

September 6, 2016

Industrial Texas

Bellomy & Co. Brokers Sale of Storage Solutions of Boerne

by Haisten Willis September 6, 2016

BOERNE, TEXAS — Bellomy & Co. has brokered the sale of Storage Solutions of Boerne in the San Antonio suburb of Boerne. The facility consists of 465 units across 67,500 square feet. The 7.9-acre property was built in 2009 and was 83 percent occupied at the time of closing. Boerne is located 30 miles northwest of San Antonio. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. structured the off-market transaction between the unnamed, local seller and the buyer, Lockaway Storage. Lockaway operates more than 50 self-storage properties in California and Texas.

September 6, 2016

Industrial Office Texas

Lee & Associates Arranges Sale of Office/Warehouse Building in Metro Houston

by Haisten Willis September 6, 2016

LEAGUE CITY, TEXAS — Lee & Associates’ Houston office has arranged the sale of a 9,000-square-foot office/industrial building at 2227 Gulf Freeway S. in League City, a suburb of Houston. The buyer was KSSG 646 Investments LLC. Mike Spears and Thomas Leger of Lee & Associates represented the seller, Sanberg Investments, in the transaction.

September 6, 2016

Fountain Square Commerce Center, Chicago

Features Heartland Feature Archive Industrial Top Stories

Midwest Industrial Business Parks Evolve in Pursuit of E-Commerce

by Jeff Shaw September 6, 2016

There’s a reason why warehouse facilities and fulfillment centers ranked No. 1 and 2 for 2016 investment and development prospects. In addition to the annual commercial real estate survey findings by PwC and the Urban Land Institute, the National Council of Real Estate Investment Fiduciaries (NCREIF) is reporting that the Midwest posted the strongest industrial income return among all U.S. regions in second quarter 2016. “E-commerce is affecting more than just the industrial real estate business park. It is the most significant driver of demand in industrial products across the county right now,” says Ryan O’Leary, regional senior vice president at Duke Realty. “Business parks are obviously a big beneficiary of that.” O’Leary, who oversees the Chicago, Minneapolis and St. Louis markets for the Indianapolis-based REIT, estimates that e-commerce drove 35 to 40 percent of the approximately 8 million square feet of industrial absorption in the Windy City during the second quarter. Business parks with very good infrastructure, access to major thoroughfares and easy flow for heavy truck and auto traffic have a huge advantage in securing that tenant demand, which usually requires a quick turnaround on building delivery. Unlike development costs for a garden-variety warehouse space 15 years ago, …

September 6, 2016

Connecticut Industrial Northeast

O,R&L Commercial Negotiates $3.7M Sale of Land Parcel in Connecticut

by Amy Works September 2, 2016

DARIEN, CONN. — O,R&L Commercial has arranged the sale of a 3.7-acre land parcel located at 131 Hollow Tree Ridge Road in Darien. John Hertz and Robert Wood acquired the property for $3.7 million. The seller was Karen Park, as authorized by the Superior Court of the Judicial District of Hartford, Conn. The buyers plan to develop a 100,000-square-foot storage facility on the site. Phil Marshall of O,R&L Commercial represented the seller, while Halstead Properties represented the buyer in the deal.

September 2, 2016

Industrial Texas

Sealy Acquires 1.5 MSF Industrial Portfolio in Dallas

by Haisten Willis September 2, 2016

DALLAS — Sealy & Co. has acquired a 1.5 million-square-foot industrial portfolio located in four submarkets in Dallas. The industrial portfolio is comprised of 18 buildings occupied by a diverse tenant base. The assets were acquired as part of the Sealy Strategic Equity Partners LP portfolio. The seller in the transaction was undisclosed.

September 2, 2016

Industrial Texas

Lee & Associates Negotiates 120,483 SF Industrial Sale in Metro Dallas

by Haisten Willis September 2, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 120,483-square-foot industrial building located at 2425 Camp Ave. in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, Evergreen Properties. Ryan Boozer and Todd Poticny of Stream Realty Partners LP represented the buyer, UT Vehicle.

September 2, 2016

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