MOONACHIE, N.J. — Woodmont Industrial Partners has acquired an industrial building located at 77 Moonachie Ave. in Moonachie. The 104,000-square-foot property was acquired for an undisclosed price. The building features seven loading dock doors, a new roof, heavy power, ample parking and 14,000 square feet of mezzanine space. Thomas E. Tucci and Thomas Tucci of Cushman & Wakefield represented the undisclosed seller in the deal.
RICHARDSON, TEXAS — Lee & Associates has arranged an 11,209-square-foot industrial lease renewal at 1380 Presidential Drive in Richardson. Nathan Denton of Lee & Associates’ Fort Worth office represented the tenant, Vac-Tech, a vacuum pump servicer, in the lease transaction. Ryan Rubenkoenig represented the landlord, Red Tail, internally.
DEFOREST, WIS. — Ryan Companies US Inc. has broken ground on a 132,730-square-foot processing facility for The Little Potato Company in DeForest, approximately 17 miles north of Madison. The building, to be situated on a 15.9-acre site, will be the company’s first facility in the United States. When completed, the building will include 11,730 square feet of office space and 121,000 square feet of cooler, dry warehouse and processing space. The facility will feature 30-foot clear heights in the warehouse area, nine dock doors, two overhead drive-in doors and 130 stalls for employee parking. The project, located inside the DeForest Business Park, is scheduled for completion in 2017. Alberta, Canada-based The Little Potato Company specializes in the processing of creamer potatoes.
BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 25,520-square-foot industrial building in Brookfield, 13 miles west of Milwaukee. Theomax Real Estate LLC purchased the building from LPM Group LLC for an undisclosed price. The facility is located at 3280 Gateway Road. Samuel M. Dickman Jr., Samuel D. Dickman and Roger Siegel of The Dickman Company brokered the transaction.
With increasing rental rates, strong investor demand for core product and record levels of speculative construction, spirits are high in the Lehigh Valley with regard to industrial real estate opportunities. The record volume of product deliveries the past two years underscores the strong industrial demand in the Lehigh Valley. Vacancy has dropped from 15.9 percent in the first quarter of 2009 to a record-low 4.9 percent at the end of 2015, according to CoStar. The average net industrial rental rate jumped 11.1 percent during the past 18 months, an even more impressive figure when compared against the 10-year average of 1.65 percent rental rate growth in Lehigh Valley for modern distribution buildings. After many years of flat rental growth, year-end 2015 industrial leases were completed in the $4.75- to $4.95-per-square-foot range in the Allentown-Bethlehem-Easton, Pennsylvania MSA. In 2016, expect a modest increase in rental rates as the delivery of new construction across the northeastern Pennsylvania region will slow growth and push vacancy rates higher. Leasing activity has been broadly distributed along the regional I-78 and I-81/I-80 corridors. Within the valley, industrial growth has occurred primarily along the main interchanges of I-78, U.S. 22 and Route 33. In the past 12 …
ENFIELD, CONN. — CBRE has arranged the sale of an industrial facility located at 25 Bacon Road in Enfield. WE 25 Bacon Road LLC acquired the 1 million-square-foot facility for $12.5 million. Situated on 348 acres, the property was formerly a Hallmark distribution center. Christopher Metcalfe and John Reed of CBRE represented the undisclosed seller in the transaction. An earlier version of this story incorrectly reported that Sentry Commercial brokered the transaction.
NEW BERLIN, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 44,262-square-foot industrial building in New Berlin, approximately 15 miles southwest of Milwaukee. AQ Matic Real Estate purchased the facility, which is located at 16605-16685 W. Victor Road, from K.G. Stevens Holdings LLC for an undisclosed price. Anthony Huenerbein of The Dickman Company represented the seller in the transaction. Stephen Provancher and Mitchell Starczynski of NAI MLG Commercial represented the buyer.
Kansas City’s industrial market is experiencing an incredible construction boom that is both market-driven and not limited to just one area or particular deal. In the past two years, multiple, diverse industries and tenant categories have shown interest in a variety of options around the area. The buildings going up and the tenants filling them cannot be pigeonholed into any single, narrow category. It’s encouraging that the entire market is doing well, not just one particular segment or submarket. The success of the market is widespread across the region. New buildings have gone up in Johnson County, Jackson County and Wyandotte County in the past few years. Projects also are moving forward in Platte County, up by Kansas City International Airport, and also in Executive and Northland Park. Additionally, Kansas City is providing options to companies of all sizes, from giant, bulk users to smaller users seeking the features associated with new development. New buildings such as Westlink Industrial Park in Johnson County and Kaw Point in Wyandotte County have offered tenants looking for 50,000 to 100,000 square feet the opportunity to access the amenities and features of modern construction that are associated with new bulk development. Both of those …
OMAHA, NEB. — Investors Realty Inc. has brokered the $3.2 million sale of the Airport Commerce Center in Omaha. Baceline Airport Commerce Center LLC sold the 65,101-square-foot industrial and office property, which is located at 1102-1234 E. Harman Ave. PPP Lot 4 LLC purchased the multi-tenant building. Ember Grummons and Lee Ehlers of Investors Realty represented the seller, and Mike Moylan represented the buyer.
AVON, MASS. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of an office and distribution warehouse facility located at 80 Stockwell Drive in Avon. Hilco Real Estate, a unit of Hilco Global, sold the 241,454-square-foot property for $9.55 million. Situated on 12.7 acres, the property features 35,840 square feet of office space and 205,614 square feet of warehouse space. Additionally, the property features two presentation rooms, private offices, 22-foot ceilings, 17 dock doors and an open floor plate. Peter Whoriskey and Michael Frisoli of NGKF represented the seller, while Joel Miller of Permanser represented the undisclosed buyer in the transaction.
