Industrial

Industrial Facility in Metro Chicago Changes Hands for $6.2M

by Christina Cannon August 17, 2016

ITASCA, ILL. — A buyer in a 1031 exchange has acquired a 40,150-square-foot industrial facility in Itasca, approximately 25 miles northwest of Chicago, for $6.2 million. The building, sold by an undisclosed development firm, is situated within the Spring Lake Business Park. LabCorp of America occupies the facility, which is located on 3.3 acres at 150 Spring Lake Drive. The building underwent a $7.2 million renovation that included a new roof, HVAC units and a parking lot. The facility was also built out to meet the needs of LabCorp, which still has eight years remaining on its lease. Jason Caplan of SVN | Chicago Commercial represented the buyer in the transaction, and Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller.

August 17, 2016

Industrial Midwest Office Ohio

CBRE Brokers Sale of Two Industrial Buildings Totaling 142,259 SF Near Cincinnati

by Christina Cannon August 17, 2016

FAIRFIELD AND FOREST PARK, OHIO — CBRE Group Inc. has brokered the sale of two office and warehouse buildings near Cincinnati for an undisclosed price. Fairfield Business Center totals 44,011 square feet, and Kemper Woods Business Center totals 98,248 square feet. Chicago-based Brennan Investment Group purchased the buildings from two separate undisclosed sellers. Keith Yearout, Jim Vondran, Doug Whitten, Mike Lowe, Tim Schenke and Jeremy Kraus of CBRE represented the two sellers in the transaction. The team will also market the properties for lease.

August 17, 2016

Illinois Industrial Midwest

Transwestern Arranges 48,370 SF Industrial Lease in Waukegan, Illinois

by Christina Cannon August 17, 2016

WAUKEGAN, ILL. — Transwestern has arranged a 48,370-square-foot industrial lease for Design Phase Inc. in Waukegan, approximately 40 miles north of Chicago. Design Phase will occupy space at Amhurst II, a 167,916-square-foot building within the Amhurst Lake Business Park. The company’s headquarters is also located in a separate building within the business park. The building features 24-foot ceilings, four exterior docks, one drive-in door and 1,300 square feet of office space. Located at 3540–3630 Amhurst Parkway, Amhurst Lake Business Park consists of six industrial buildings situated on 452 acres owned by Prudential Real Estate Investors. Tom Boyle and Jared Paff of Transwestern represented the tenant in the transaction.

August 17, 2016

Georgia Industrial Southeast

LRC Properties Purchases 1.9MSF Distribution Facility in Georgia

by John Nelson August 17, 2016

NEWNAN, GA. — LRC Properties has purchased a 1.9 million-square-foot distribution facility located at 60 Herring Road in Newnan for an undisclosed price. The company also recently signed Variety Wholesalers to a long-term lease at the facility for 1.4 million square feet. LRC plans to upgrade the facility’s roof and parking lot and renovate the interior to accommodate multiple tenants. The former Kmart distribution center is LRC’s first purchase in Georgia. The company now manages roughly 5 million square feet of industrial space on the East Coast.

August 17, 2016

Industrial Loans Southeast Tennessee

Cohen Financial Secures $19M Acquisition Loan for Industrial Portfolio in Metro Nashville

by John Nelson August 17, 2016

GOODLETTSVILLE, TENN. — Cohen Financial has closed a $19 million acquisition loan for two industrial parks totaling 13 buildings and 980,000 square feet in Goodlettsville, a suburb of Nashville. The properties, Space Park North and Old Stone Bridge, are situated a mile apart along I-65. The assets are currently leased to more than 50 tenants combined. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the fixed-rate, 10-year, CMBS loan through Morgan Stanley on behalf of the borrower, an affiliate of Chicago-based Kaufman Jacobs.

August 17, 2016

California Industrial Western

Badiee Development Plans Speculative Flex Industrial Campus in Carlsbad

by Nellie Day August 16, 2016

CARLSBAD, CALIF. — Badiee Development has acquired two land parcels totaling 8.4 acres in the Carlsbad Oaks North Business Park for $6 million. The development firm plans to build a speculative flex industrial campus named Carlsbad Oaks Innovation Park on the lots. The two-building campus will contain a total of 102,937 square feet offering a mix of office and functional warehouse space. Badiee will break ground on the campus in the first quarter of 2017, with an expected completion date in the fourth quarter of that year. Tucker Hohenstein and Mike Erwin of Colliers International represented both Badiee and the seller, Kilroy Realty, in this transaction. The team also serves as the project’s listing brokers, along with Conor Boyle.

August 16, 2016

Industrial Texas

Cushman & Wakefield of Texas Secures 396,880 SF Industrial Lease in Metro Houston

by Haisten Willis August 15, 2016

SEALY, TEXAS — Cushman & Wakefield of Texas Inc. has negotiated a 10-year lease of nearly 400,000 square feet within the former BAE manufacturing facility fronting I-10 just west of Sealy. The tenant is Valerus Field Solutions, a division of Montreal-based SNC-Lavalin, an engineering and construction firm. The Parker/Littman Team at Cushman & Wakefield of Texas represented the owner, Five Star Properties, and Kyle Kelley of Savills Studley and Jim Stark of CBRE acted as brokers for Valerus. The transaction is a consolidation of multiple SNC-LaFkellyvalin locations from across Texas and Louisiana and will employ up to 250 engineers, accountants, project managers, warehouse attendants and general laborers.

August 15, 2016

Industrial Southeast Virginia

Hollingsworth Cos. Completes Expansion of Manufacturing Facility in Virginia

by John Nelson August 11, 2016

PRINCE GEORGE, VA. — The Hollingsworth Cos. has designed and constructed the 190,462-square-foot expansion of a manufacturing facility within SouthPoint Business Park in Prince George. Hollingsworth completed the expansion of the aluminum remelt facility occupied by Service Center Metals (SCM). In addition to the expansion, SCM will invest in additional equipment at the facility and expand the current workforce by 35 employees.

August 11, 2016

Florida Industrial Southeast

PREMIER Design + Build to Construct Two Warehouses in Fort Lauderdale

by John Nelson August 10, 2016

FORT LAUDERDALE, FLA. — Bridge Development Partners LLC has selected PREMIER Design + Build LLC to construct two warehouses in Fort Lauderdale totaling 306,855 square feet. The assets will be located at Sunrise Boulevard and I-95 and offer nearly 400 parking spaces. Both warehouses will feature 32-foot clear heights, 58 truck dock positions, three drive-in doors, ESFR sprinkler systems and TPO roofing systems. Ytiel Lopez is the project manager and Chuck Rugila is the field superintendent from PREMIER Design + Build Group, and RLC Architects is providing architectural services. Samantha Cristiano, Tony Hoover and Larry Genet of CBRE are the leasing agents for the project. Flynn Engineering is the civil engineer, and DDA is providing structural engineering services. PREMIER Design + Build plans to deliver the projects in the spring of 2017.

August 10, 2016

adidas-speedfactory-atlanta-cherokee-county

Georgia Industrial Southeast Top Stories

Adidas to Open Shoe Factory in Metro Atlanta, Move Production from Asia

by Haisten Willis August 10, 2016

ATLANTA — German sportswear brand Adidas has announced plans to open a new footwear production site in the Atlanta area in 2017, eventually bringing part of the company’s manufacturing from Asia to the United States. The facility, which will be known as adidas Speedfactory, is designed to allow the company to create products more quickly and closer to U.S. consumers using a highly automated process. The 74,000-square-foot facility will be located in Cherokee County, a suburban area roughly 30 miles northwest of Atlanta. It is scheduled to open in the second half of 2017 and will produce 50,000 pairs of shoes a year while employing 160. The U.S. factory will complement another Speedfactory facility operating in Germany. Adidas’ strategic partner Oechsler will operate both the U.S. and German facilities. Adidas is headquartered in a small town in Bavaria. The company is publicly traded on the Frankfurt Stock Exchange under the symbol ADS. Its parent company, Adidas Group, includes several other sports-goods brands such as Reebok and TaylorMade. — Haisten Willis

August 10, 2016

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