Industrial

Ridge Development Unveils Plans for 271,200 SF Industrial Facility in Bartlett, Illinois

by Christina Cannon February 29, 2016

BARTLETT, ILL. — Ridge Development, the industrial development arm of Transwestern Development Co., has unveiled plans to develop a 271,200-square-foot speculative warehouse building in the Brewster Creek Business Park in Bartlett, approximately 35 miles northwest of Chicago. The 14-acre project, called Ridge Brewster Creek, will be owned by a joint venture between Ridge Development and Diamond Realty Investments Inc., the real estate investment arm of Mitsubishi Corp. Groundbreaking for the building is scheduled for March 2016 with delivery expected in September 2016. Located at 1331 – 1337 Schiferl Road, Ridge Brewster Creek will feature 32-foot clear heights, 36 exterior docks, four drive-in doors and ample automobile parking. Brewster Creek Business Park, a mixed-use business park on 670 acres, is located at the intersection of County Road 29 and Munger Road. Triumph Construction Services Corp. will serve as the project’s general contractor, and Harris Architects Inc. will provide architectural services. Eriksson Engineering Associate Ltd. will provide civil engineering services.

February 29, 2016

Illinois Industrial Midwest

Darwin Realty Arranges 291,520 SF of Industrial Leases in Elgin, Illinois

by Christina Cannon February 29, 2016

ELGIN, ILL. — Darwin Realty has arranged two leases totaling 291,520 square feet within the DCT Business Center in Elgin, approximately 40 miles northwest of Chicago. An international manufacturing company leased 150,550 square feet at 305-325 Corporate Drive and 140,970 square feet at 350-370 River Ridge Road. Noel Liston and Brendan Sheahan of Darwin Realty represented the landlord, DCT, in the long-term lease transactions. Mike Fonda of Avison Young and Jimmy Cohoat of Summit Realty Group represented the tenant.

February 29, 2016

Industrial Midwest Wisconsin

Sherwin-Williams Leases 10,000 SF Industrial Space in Kenosha, Wisconsin

by Christina Cannon February 29, 2016

KENOSHA, WIS. — Sherwin-Williams Co. has leased 10,000 square feet of industrial space in Kenosha, approximately 35 miles south of Milwaukee. Sherwin-Williams will occupy space at the Business Center of Kenosha, which is located within the Business Park of Kenosha. The space being leased will serve as warehouse and distribution space for the paint products and materials company. Kevin Vernick of Vernick & Associates Ltd. represented Sherwin-Williams in the transaction. Sergio Chapa, Chelsea Couette and Michael Kleber of Newmark Grubb Knight Frank represented the landlord, Zilber Property Group.

February 29, 2016

Industrial Northeast Pennsylvania

The Hampshire Companies Sells 596,703 SF Industrial Building in Pennsylvania

by Amy Works February 26, 2016

MECHANICSBURG, PA. — The Hampshire Companies has completed the disposition of a 596,703-square-foot industrial building located at 1225 S. Market St. in Mechanicsburg. Allen Distribution acquired the property for an undisclosed price. Situated on more than 100 acres, the property features ceiling heights ranging from 16 feet to 30 feet, 58 loading doors, one drive-in door, 747 car parking spots and 24 trailer stalls. Additional features include a fire suppression system, office-chiller air handler HVAC system, warehouse rooftop cooling units, gas-fired heating air rotation units, on-site helicopter pad and power sub-station. At the time of sale, the property was 65 percent occupied with an available 205,858 square feet of vacancy. Gerard Blinebury, Marie Connell and Samantha Kennedy of Cushman & Wakefield brokered the transaction.

February 26, 2016

Industrial New Jersey Northeast

NAI Hanson Brokers Sale of 53,152 SF Industrial Building in New Jersey

by Amy Works February 26, 2016

CARLSTADT, N.J. — NAI James E. Hanson has arranged the sale of a newly constructed 53,152-square-foot industrial building in Carlstadt. Loftex Logistics LLC, a Chinese textile company, acquired the property from Sitex Group for an undisclosed price. Located at One Palmer Terrace, the warehouse features 32-foot clear ceiling heights, 52-foot by 60-foot column space, five loading docks with 30,000-pound capacity levelers and one drive-in door. Additionally, the facility features state-of-the-art energy-efficient T-5 fluorescent lighting, 41 on-site parking spaces, a 130-foot truck court with a 60-foot concrete apron. Loftex Logistics plans to use the property as its first fulfillment and distribution center in the United States. Tom Vetter and Jeff DeMagistris of NAI James E. Hanson represented the seller, while Century 21 New Beginnings Realty represented the buyer in the transaction.

February 26, 2016

Industrial Texas

IPA Negotiates Sale of Development Site in Metro Dallas

by Haisten Willis February 26, 2016

MCKINNEY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and major private real estate investors, has negotiated the sale of a 30-acre development site along State Highway 121/U.S. Highway 75 corridor in McKinney. The site is located at 5401 Collin McKinney Parkway, one block north of State Highway 121, two miles west of Highway 75 and east of the Dallas North Tollway. The site is adjacent to the master-planned Craig Ranch community.

February 26, 2016

Industrial Texas

STREAM Capital Secures $8.4M Sale-Leaseback of Industrial Properties in Houston

by Haisten Willis February 26, 2016

HOUSTON — STREAM Capital Partners has executed the sale-leaseback of two industrial properties located in Houston. The properties are located at 1300 Gazin St. and 5633 Old Clinton Road. 1300 Gazin St. spans 95,435 square feet, while 5633 Old Clinton Road spans 45,135 square feet. MW Industries occupies both buildings utilizing a net lease. An unnamed REIT was the buyer.

February 26, 2016

Industrial Maryland Southeast

Trammell Crow, PREI Buy Site in Maryland for Future Industrial Complex

by John Nelson February 26, 2016

HANOVER, MD. — Trammell Crow Co. (TCC) and Principal Real Estate Investors (PREI) have closed on the purchase of a 26.5-acre site located at 7565 Harmans Road in Hanover, a city within the Baltimore-Washington Industrial Corridor. The site will be the future home of BW Gateway, a two-building, Class A industrial complex totaling 290,000 square feet. Upon completion, the development will include two rear-loaded buildings comprising 151,000 and 138,000 square feet. The buildings will feature 32-foot clear heights, ESFR sprinklers, T-5 lighting and 45 trailer spaces. Construction on BW Gateway will start immediately. TCC and PREI have selected Robert Clements and Bob Smith of KLNB to lease BW Gateway. The design team includes general contractor Glen Arm Building Co. and architect MGMA. Matt Laraway of Chesapeake Real Estate Partners and Curt Stanton of Paine/Wetzel Associates represented the seller of the land, and Clements represented TCC and PREI in the transaction.

February 26, 2016

Georgia Industrial Southeast

Papa John’s Selects Metro Atlanta for Regional Hub

by John Nelson February 26, 2016

ACWORTH, GA. — Papa John’s International Inc. is locating its new regional hub in southwest Cherokee County. The 110,000-square-foot distribution and warehouse space will supply more than 400 Papa John’s stores across seven states. The Louisville-based pizza chain currently has 10 full-service regional production and distribution centers in the United States, which Papa John’s refers to as Quality Control Centers (QCCs). The QCCs manufacture and supply pizza dough, food and paper products, along with smallwares and cleaning supplies, to the stores in their region. The QCCs are operated by PJ Food Service Inc., a subsidiary of Papa John’s. The new QCC will occupy space at Majestic Realty Co.’s building located off of Highway 92 and Northpoint Parkway in Acworth. The new QCC will result in 106 jobs with an average wage of more than $60,000 per year and more than $15 million in capital investment. Papa John’s worked closely with Site Selection Group LLC, the Georgia Department of Economic Development, the Metro Atlanta Chamber, Georgia Power and the Cherokee Office of Economic Development in choosing southwest Cherokee for its new regional hub.

February 26, 2016

California Industrial Western

McGuire Building in San Francisco Sells for $47M

by Nellie Day February 26, 2016

SAN FRANCISCO — A joint venture between SKS Partners LLC and ProspectHill Group has purchased the McGuire Building, a 140,000-square-foot industrial property in San Francisco, for $47 million. The building is located at 1201 Bryant St., within the South of Market (SOMA) district. The JV plans to redevelop the space to re-introduce it in “like-new” condition, per the facility’s production, distribution and repair zoning. Tim Mason and Gerald Norton of Binswanger represented the seller, Kohler Co., in this transaction.

February 26, 2016

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