Louisville’s industrial market continues to impress as it has successfully navigated recessionary times to the now current brisk market with solid activity. Even within those leaner times of 2009 and 2010, Louisville grew its occupied footprint by approximately 1.6 million square feet with perhaps a recipe that includes its beneficial geographic location and infrastructure, diverse manufacturing and logistics economy buffeted by UPS Worldport and Supply Chain Logistics, and aggressive state incentives provided by Kentucky and adjacent neighbor Indiana. The I-65 corridor is currently, and has been, white hot over the last 15 years. Louisville, like many similarly sized cities with populations over 1 million, has developed to its outer edges and industrial development is now spilling into smaller adjacent communities such as Shepherdsvillle, Ky., and Jeffersonville, Ind., both of which no longer resemble their former industrial selves. National and international developers like Prologis, USAA, Dermody, Exeter, DCT, Pinchal and Welsh, along with local developers such as Main Street Realty, Capstone, America Place and Crossdock, have found these communities and the I-65 corridor not only ripe with opportunity, but flush with tenants. On the Louisville side of the Ohio River, current speculative construction along the corridor includes more than 1.4 million …
SAN ANTONIO — NAI Partners represented Waste Management Inc. in subleasing a 180,000-square-foot recycling distribution facility located at 1228 Cornerway in San Antonio. Chris Caudill of NAI Partners, along with John Greg Tourcotte of REOC San Antonio, represented Waste Management in the sublease negations. Southern Warehousing & Distribution is the subtenant.
PLYMOUTH MEETING, PA. — Stream Capital Partners has brokered the $13.2 million sale-leaseback of Markel Corp.’s corporate headquarters. Located in Plymouth Meeting, the 166,667-square-foot industrial/flex building has served as Markel’s headquarters for more than 40 years. Markel is leasing the building back on a long-term absolute triple-net lease with periodic rental increases and multiple renewal options from the buyer, a private industrial group based in the Midwest. Jonathan Wolfe and Jordan Shtulman of Stream Capital represented the seller, Markel Corp., in the transaction.
GARDEN CITY, GA. — PCCP LLC and Panattoni Development Co. Inc. have formed a joint venture to develop Westport Business Park on a 33-acre land parcel in Garden City, which borders Savannah. The 312,000-square-foot speculative distribution center will feature 32-foot clear heights with 94 dock doors, 52-foot by 60-foot stage bays, T5 lighting, ESFR sprinklers, 45 trailer spaces and 77 car parking spaces. The facility will be situated less than two miles from the Garden City Terminal at the Port of Savannah and the Savannah/Hilton Head International Airport. The joint venture expects to complete the project by mid-2016.
LEBANON, TENN. — Communications Test Design Inc. (CTDI), an engineering, repair and logistics company serving the communications industry, has signed a 403,750-square-foot industrial lease at Eastgate Distribution Center I in metro Nashville. The building is located at 7800 Eastgate Blvd. in Lebanon. John Ward of Cushman & Wakefield represented the landlord, Pattillo Industrial Real Estate, in the lease deal. Terry Smith of Colliers International represented CTDI. David Mackey and John Morrissey of Jackson Cross Partners assisted in representing CTDI.
FORT WORTH, TEXAS — SVN / Trinity Advisors recently closed several industrial transactions in Fort Worth, Arlington and Carrollton. James Blake of SVN /Trinity arranged the sale of a warehouse located at 2405 Ludelle St.in Fort Worth to XS Sights System, which will occupy the 10,500-square-foot building. Built in 1986, the industrial building is located just off I-30 and Beach Street. Blake represented the seller, Powerspoint Investments LLC, in the transaction. Tyler Trahant with The Trahant Co. represented the buyer. Carl Brown of SVN / Trinity arranged the lease of three spaces in the Beach Conner Industrial Park, located 10 minutes from downtown Fort Worth on Beach Street. The first lease deal was 3,600 square feet to Surgidental for a two-year term. The second deal was 7,200 square feet leased to Delta Structural Tech for a one-year term, and the third deal was 3,600 square feet leased to Munoz Furnishings for a one-year term. Brown also arranged the lease of 3,000 square feet of industrial space to HD Foundation for a three-year term at 801 Secretary Drive in Arlington. In addition, SVN / Trinity’s Clint Montgomery arranged the lease of 1,120 square feet of space in an industrial complex in Carrollton …
RAYNHAM, MASS. — Calare Properties has acquired an industrial/flex building located at 480 Paramount Drive in Raynham for an undisclosed price. The 40,000-square-foot property is currently vacant. Situated on 7.5 acres and built in 2004, the facility features 20-foot clear ceiling heights, eight tailboard doors, loading docks and 111 surface-level parking spaces. Calare Properties expects the facility to be fully leased in the first half of 2016. CBRE/New England is handling leasing efforts for the property. The name of the seller was not released.
SPARTANBURG, S.C. — Colliers International has brokered the $3.5 million sale of a 133,240-square-foot industrial facility located at 2641 New Cut Road in Spartanburg. Reger Holdings LLC purchased the former Faurecia manufacturing facility from Faurecia Emissions Control Technologies LLC. Faurecia is a manufacturer of automotive seating, interior systems, automotive exteriors and emissions control technologies and is major supplier for BMW, which has a major presence in South Carolina. Colliers is the global real estate services provider for Faurecia, which has 238 production facilities and 38 research and development centers in 33 countries. Chuck Salley, Dave Mathews, Givens Stewart, Sam Myers, Garrett Scott and Brockton Hall of Colliers represented both the buyer and seller in the transaction. Reger Holdings has retained Colliers to lease and manage the facility.
SALT LAKE CITY — Standard Industries has purchased the former Corsicana Bedding Building, a 155,106-square-foot office and manufacturing facility in Salt Lake City, for an undisclosed sum. The building is located at 879 South 4400 West. This is the restaurant supply company’s second distribution center in Salt Lake City. Bryce Blanchard and Kelsie Akiyama of Newmark Grubb ACRES represented the landlord, BH Properties, in this transaction.
CARROLLTON, TEXAS — Henry S. Miller’s Bill Bledsoe has represented Pack Properties XI LLC in the purchase of 5.1 acres of land in Carrollton. The Sam Pack Auto Group is expanding its business in Carrollton with the new 5 Star Chevrolet. The parcel, located at 1711 S. Broadway, will accommodate additional vehicle storage and inventory needs. Troy Corman of T2 Real Estate represented the seller, H. Dalton Wallace of Austin, in the transaction.