Industrial

TRiSTAR Breaks Ground on 1.1 Million SF of Speculative Industrial Space Near St. Louis

by Christina Cannon February 22, 2016

EDWARDSVILLE, ILL. — TRiSTAR Properties has broken ground on two new industrial buildings within the Gateway Commerce Center in Edwardsville, approximately 25 miles northeast of St. Louis. The two speculative distribution facilities will total 1.1 million square feet. Gateway Commerce Center is a 2,300-acre logistics and bulk distribution park. PCCP LLC is partnering with TRiSTAR to fund the $49 million project. The first building, Gateway East 618, will be situated on 53 acres and span 618,450 square feet. The facility will feature 36-foot clear heights, 68 dock doors and two drive-in doors. Gateway East 513 will be a 513,760-square-foot building that sits on a 46-acre site. This facility will include 32-foot clear heights, 58 dock doors and two drive-in doors. Both buildings are expandable by over 1 million square feet. Ed Lampitt of Cushman & Wakefield is the leasing agent for the two buildings, which are both slated for completion in the latter half of this year. Contegra Construction is serving as the project’s general contractor. Gray Design Group is the architect of record, and Stock & Associates Consulting Engineers Inc. is providing civil engineer services.

February 22, 2016

Industrial Northeast Pennsylvania

American Realty Advisors Acquires 700,000 SF Industrial Property in Central Pennsylvania

by Amy Works February 19, 2016

CARLISLE, PA. — American Realty Advisors has acquired a cross-docked bulk warehouse/distribution property located at 2 Ames Drive in Carlisle. Situated on more than 53 acres, the 700,000-square-foot building is fully leased to a Fortune 50 tenant through 2024. A joint venture between Dermody Properties and PCCP sold the property for an undisclosed sum. The property features 32-foot clear heights, full air conditioning, 481 car spaces, 149 trailer spaces, T-5 lighting and 8,000 amps of power. Additionally, the building was designed and constructed to LEED core and shell standards. Michael Hines and Brian Fiumara of CBRE National Partners represented the seller in the transaction.

February 19, 2016

Industrial Massachusetts Northeast

The Stubblebine Company Brokers $3.6M Sale of Industrial Building in Massachusetts

by Amy Works February 19, 2016

HANOVER, MASS. — The Stubblebine Company has arranged the sale of an industrial property located at 285 Circuit St. in Hanover. Beech Street Enterprises sold the multi-tenant building to an undisclosed buyer for $3.6 million. The single-story, 76,000-square-foot facility features 20-foot clear heights, no columns and a diverse tenant mix. David Stubblebine and James Stubblebine of The Stubblebine Company/CORFAC International represented the seller and procured the buyer in the deal.

February 19, 2016

Industrial Office Texas

JaRyCo Breaks Ground on 94,000 SF Tech Center in Metro Dallas

by Haisten Willis February 19, 2016

ALLEN, TEXAS — Development firm JaRyCo has begun construction on Tech Center One, Phase I of an office/warehouse complex at Greenville Avenue and Bethany Drive in Allen. Completion of the 38,000-square-foot office/warehouse hybrid building is expected in August. Two additional building phases are planned for a total of 94,000 square feet. A groundbreaking ceremony for the project is set for Feb. 25. at 2 p.m. This will be the 10th project in Allen for JaRyCo in the last 15 years. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office are marketing the property.

February 19, 2016

Industrial Kentucky Loans Southeast

NorthMarq Secures $10.5M Loan for 500,000 SF Distribution Warehouse in Louisville

by John Nelson February 19, 2016

LOUISVILLE, KY. — NorthMarq Capital has arranged a $10.5 million loan for the refinancing of Crossings Center Six, a 500,000-square-foot bulk distribution warehouse located at 4500 Commerce Crossings Drive in Louisville. Randall Waddell of NorthMarq Capital’s Louisville office arranged the 10-year loan with a 15-year amortization schedule through an unnamed life insurance company.

February 19, 2016

Georgia Industrial Southeast

Ackerman & Co. to Develop 1M SF Distribution Center in Georgia

by John Nelson February 18, 2016

BRASELTON, GA. — Ackerman & Co. plans to develop a 1 million-square-foot bulk distribution center in Braselton, roughly 50 miles northeast of Atlanta. Ackerman recently purchased the 107-acre site off of Broadway Avenue and BDC Parkway from Synovus Bank for $4.5 million. The site is situated less than two miles from I-85 and the Georgia Highway 211 interchange. The building, known as Braselton Logistics Center, will feature 40-foot clear heights, ductilcrete floors and parking for trailers and automobiles. Ackerman plans to deliver the property in the first quarter of 2017. Julian Brown of Transwestern and Brett Buckner of Ackerman & Co. will lease the asset. The design team includes architect Randall Paulson, civil engineer Elberly Associates and general contractor Conlan Co.

February 18, 2016

Florida Industrial Southeast

JLL Arranges Two Industrial Leases Totaling 309,400 SF in Orlando

by John Nelson February 18, 2016

ORLANDO, FLA. — JLL has completed two new lease transactions totaling 309,400 square feet of warehouse distribution space in Orlando. The two tenants, Mattress Firm and Sherwood Bedding, will occupy adjacent 154,700-square-foot spaces in a brand new 478,400-square-foot cross-dock facility at Air Commerce Park, a 3 million-square-foot, 300-acre industrial park currently under construction just west of Orlando International Airport. Joe Hills and Josh Lipoff of JLL worked with Damian Riveria of E. Smith Realty Partners to represent the tenants in their respective lease transactions. Chicago-based Becknell Industrial, along with local planning consultants Mike Stuart and Florida Engineering Group, are developing Air Commerce Park.

February 18, 2016

Illinois Industrial Midwest

Paine Wetzel Brokers Sale of 106,892 SF Industrial Property in Glen Ellyn, Illinois

by Christina Cannon February 18, 2016

GLEN ELLYN, ILL. — Paine Wetzel TCN Worldwide has brokered the sale of a 106,892-square-foot industrial property in Glen Ellyn, approximately 28 miles west of Chicago. M&R Printing Equipment sold the asset, located at 1N372 Main St., to LifeStorage. The asking price for the property was $3.7 million, but the final purchase price was undisclosed. LifeStorage plans to convert the manufacturing building into self-storage units. Jeff Blake of Paine Wetzel TCN Worldwide represented the seller in the transaction. Sean Henrick of Cushman & Wakefield represented the buyer.

February 18, 2016

Industrial Michigan Midwest

Friedman Negotiates Sale of 24,898 SF Industrial Property in Detroit Suburb

by Christina Cannon February 18, 2016

NOVI, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 24,898-square-foot industrial property for $1.6 million. Sigma Phi Properties Inc. acquired the asset, located at 46555 Humboldt Drive Road in Novi, approximately 30 miles northwest of Detroit, from BACM 2006-2 Novi industrial LLC. The property was 100 percent occupied by three tenants at the time of sale. Rich Deptula of Friedman Integrated Real Estate Solutions represented both parties in the transaction.

February 18, 2016

Industrial Texas

Sealy & Co. Acquires Northwest Point Business Park in Houston

by Haisten Willis February 17, 2016

HOUSTON — Sealy & Co. has acquired Northwest Point Business Park, a 232,307-square-foot light industrial portfolio located on Brittmoore Road in northwest Houston. The acquisition was made through the company’s investment offering Sealy Strategic Equity Partners (SSEP). The park consists of four industrial buildings located at the intersection of Highway 290 and Beltway 8. Northwest Point is 100 percent leased to 10 tenants including manufacturing, distribution and food processing companies. The average tenant has occupied the space for more than three years. The suites range from 4,695 to 76,880 square feet.

February 17, 2016

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