Industrial

Alliance-Center-North-hillwood-fort-worth-texas

Hillwood to Add 1.8M SF of Speculative Industrial Space at AllianceTexas

by Haisten Willis January 20, 2016

FORT WORTH, TEXAS — Hillwood Properties will construct more than 1.8 million square feet of speculative industrial space at AllianceTexas, the 18,000-acre master-planned, mixed-use development in north Fort Worth. The new space includes two industrial buildings in Alliance Westport and a third facility located in Alliance Center North. Alliance Westport 18 and 19 will be located at the entrance to the BNSF Railway Alliance Intermodal Facility at the intersection of FM 156 and Intermodal Parkway. The larger of the two spec buildings, Westport 18, will span 800,000 square feet, with the ability to expand to 1.3 million square feet, while Westport 19 will total 360,000 square feet. Alliance Center North 15 will span 588,000 square feet, and is located at the interchange of I-35W and Eagle Parkway. All three facilities will offer 360-degree, on-site truck circulation and access to adjacent land for additional car and/or trailer parking expansion opportunities. Construction is slated for completion during the second quarter of 2016.

January 20, 2016

Cooper Commercial Arranges $3.6M Sale of Flex Property in Cleveland Suburb

by Christina Cannon January 20, 2016

STRONGSVILLE, OHIO — The Cooper Commercial Investment Group has arranged the sale of a 41,184-square-foot office and warehouse building for $3.6 million. A private investor from Ohio sold the property located in the Strongsville Business & Technology Park along Foltz Parkway in Strongsville, approximately 20 miles southwest of Cleveland. The building can accommodate four tenants and is 98 percent occupied. Tyco SimplexGrinnell, a provider of emergency communication systems and services, is the most recent tenant to sign a lease at the property. The building sold for 92 percent of the list price and featured an 8.67 percent cap rate. Dan Cooper of Cooper Commercial Investment Group represented the seller in the transaction.

January 20, 2016

Heritage-Business-Park-southlake-henry-schein

Industrial Texas

Henry Schein Expands at Heritage Business Park in Metro Dallas

by Haisten Willis January 19, 2016

SOUTHLAKE, TEXAS — New York-based Henry Schein Inc. has expanded its footprint in Heritage Business Park, becoming the first tenant for a six-month-old industrial building in the 1.5 million-square-foot project in Tarrant County. The Fortune 500 company has signed a long-term lease for a 17,888-square-foot end cap in a 134,160-square-foot warehouse located at 1080 S. Kimball Ave. in Southlake. The tenant plans to relocate an existing division from Heritage Business Park 2, where it leases 241,000 square feet, to the new building, one of two that former owner KTR Capital Partners completed last summer. Michael Spain and Nick Talley of Dallas-based Bradford Commercial Real Estate Services represented the landlord in the lease deal. The plan calls for a second-quarter move-in to Heritage Business Park 8, the smaller of the two new buildings. Jeremy Halback of USI Real Estate Brokerage Services represented the tenant in its expansion at the nine-building Heritage Business Park. Henry Schein is a provider of healthcare products and services for dental, animal health and medical practitioners.

January 19, 2016

Industrial New Jersey Northeast

NAI Mertz Brokers Sale of 76-Acre Land Parcel in New Jersey

by Amy Works January 19, 2016

LOGAN TOWNSHIP, N.J. — NAI Mertz has arranged the sale of a 76-acre land parcel adjacent to the Pureland Industrial Complex in Logan Township. Corporate Enterprises Inc. sold the property to J.G. Petrucci for an undisclosed price. The buyer plans to construct a state-of-the-art industrial facility on the site, which offers access to Interstate 295 and Commodore Barry Bridge. Scott Mertz represented the seller in the transaction.

January 19, 2016

Illinois Industrial Midwest

CBRE Brokers Sale of 174,400 SF Industrial Facility in West Chicago

by Christina Cannon January 19, 2016

WEST CHICAGO, ILL. — CBRE has brokered the purchase of a 174,400-square-foot industrial facility in West Chicago, approximately 35 miles west of downtown, for an undisclosed price. Simpson Manufacturing purchased the new facility from CenterPoint Properties. Simpson Manufacturing will relocate to the facility at 2505 Enterprise Drive from its current 50,000-square-foot space in Addison. David Prell, Tyson Vallenari and Cal Payne of CBRE represented the buyer in the transaction. Britt Casey of Cushman & Wakefield represented CenterPoint Properties.

January 19, 2016

Industrial Midwest Ohio

NGKF Arranges 1 MSF Industrial Lease in Columbus Suburb

by Christina Cannon January 18, 2016

GROVEPORT, OHIO — Newmark Grubb Knight Frank (NGKF) has arranged a 1 million-square-foot lease for an industrial facility located in Groveport, a southeastern suburb of Columbus. Saddle Creek Logistics Services will occupy the newly completed building located at 6606 Pontius Road in February, which is inside the Groveport Industrial Park. Benton Benalcazar and Ladson Montgomery of NGKF represented Saddle Creek, which signed a long-term lease for the warehouse and distribution facility. The property features 36-foot clear heights, ample car and trailer parking, a cross-dock warehouse, 100 dock positions, fours drive-in doors and an ESFR sprinkler system. The lease also features a 15-year, 100 percent real estate tax abatement.

January 18, 2016

Industrial Texas

CBRE Arranges Industrial Leases in El Paso

by Haisten Willis January 18, 2016

EL PASO, TEXAS — CBRE has arranged leases for two logistics tenants at 7157 Merchant Ave. in El Paso. The buildings are part of a larger industrial portfolio purchased by Phoenix-based ViaWest Group in 2015. Tianhai Electric North America, an electronic components manufacturer for the automotive industry, leased 21,809 square feet. The El Paso warehouse location will support the company’s Cuidad Juarez operations plant across the U.S./Mexico border. Green Bay, Wis.-based RES Food Products International, manufacturer of pickles, sauces and salad dressings, has leased 20,000 square feet for distribution operations. Since acquiring the four-building, 245,473-square-foot portfolio in March 2015, ViaWest Group has installed new roofing, resurfaced the parking lots and updated the exterior paint. The portfolio is 60 percent occupied. Arturo De la Mora of CBRE’s El Paso office represented the landlord in lease negotiations.

January 18, 2016

Illinois Industrial Midwest

Ryan Cos. Completes 246,457 SF Industrial Project for Molto Properties in Elgin, Illinois

by Christina Cannon January 15, 2016

ELGIN, Ill. – Ryan Cos. has completed the construction of a 246,457-square-foot industrial project in Elgin, approximately 40 miles northwest of Chicago. The development, located at 2770 Alft Court within the Randall Crossings Business Park, was constructed on behalf of Molto Properties. Ryan Cos. has owned the master-planned, 70-acre Randall Crossings Business Park since 2005. The facility for Molto Properties is situated on a 13.5-acre site and features 50-foot bays, a 60-foot speed bay, 32-foot clear heights, 40 truck docks, four drive-in doors, parking for 188 vehicles and office space to-suit. Construction on the building began in the spring of 2015. With completion of this building, Randall Crossings Business Park includes more than 1 million square feet of space. There is still a 5.7-acre land parcel remaining for development.

January 15, 2016

Industrial Midwest Wisconsin

The Dickman Co. Arranges Sale of 7,000 SF Industrial Building in Kenosha, Wisconsin

by Christina Cannon January 15, 2016

KENOSHA, WIS. – The Dickman Co./CORFAC International has arranged the sale of a 7,000-square-foot industrial building in Kenosha for an undisclosed price. Bone Dry Products Inc. purchased the facility located at 9009 58th Place from Neal R. Rusecki and Nancy J. Rusecki. Zach Noble and Cale Berg of The Dickman Co. represented the seller in the transaction. Mike Pitts Jr. of Pitts Brothers & Associates represented the buyer.

January 15, 2016

Industrial Mixed-Use Multifamily New Jersey Northeast Office Retail

NAI Mertz Negotiates Sale of 65-Acre Industrial Site in New Jersey

by Amy Works January 15, 2016

HAMILTON TOWNSHIP, N.J. — NAI Mertz has arranged the sale of the multi-building, 1 million-square-foot former Congoleum Corp. complex, located at 861 Sloan Ave. in Hamilton Township. Commercial Development Corp. (CDC) acquired the property from Congoleum Corp. for an undisclosed price. CDC plans to develop a mixed-use development on the 65-acre site. The developer plans to raze the majority of the buildings on site with the exception of Building 55, an existing 150,000-square-foot warehouse building. Jeffrey Licht and Fred Meyer of NAI Mertz represented the seller in the transaction.

January 15, 2016

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