Industrial

Calare Properties Buys 84,000 SF Industrial/Flex Building in Massachusetts

by Amy Works November 18, 2015

CANTON, MASS. — Calare Properties has acquired an 84,000-square-foot industrial/flex building, located at 95 Shawmut Road in Canton, for an undisclosed sum. The facility features flexible space options for companies in search of warehouse, distribution and office uses and offers 22-foot clear ceiling heights, 18 dock doors, one drive-in door and 305 on-site parking spaces. The property is currently fully leased to five tenants, with a remaining average lease term of 5.5 years. The name of the seller was not disclosed.

November 18, 2015

Florida Industrial Southeast

McCraney Property Co. Breaks Ground on 603,000 SF Spec Industrial Project in Central Florida

by John Nelson November 18, 2015

DAVENPORT, FLA. — McCraney Property Co. has begun construction on a two-building, 603,000-square-foot spec industrial development at Park27, an industrial park located at the northwest intersection of I-4 and U.S. Highway 27 in Davenport. In collaboration with Northwestern Mutual, McCraney will develop a 189,000-square-foot facility followed by a 414,000-square-foot, multi-tenant building. Park27 serves as a distribution location for Amazon, Best Buy, Ford Motor Co. and HHGregg.

November 18, 2015

Industrial Midwest Wisconsin

Dollar General Corp. Breaks Ground on Distribution Facility in Janesville, Wisconsin

by Christina Cannon November 18, 2015

JANESVILLE, WIS. — Dollar General Corp. has broken ground on a new distribution center in Janesville, approximately 40 miles southeast of Madison. The facility, which will span nearly 1 million square feet, will be the retailer’s 14th distribution facility. The development is slated to come on line in December 2016. Clayco Inc. is serving as the general contractor for the project. Leo A Daly is the building design company, and Elan Design Lab is the civil design company. The new distribution center is expected to service more than 1,000 stores in the upper Midwest. Dollar General currently operates 122 stores in Wisconsin.

November 18, 2015

Industrial Michigan Midwest

Signature Associates Arranges 32,686 SF Industrial Lease in Detroit Suburb

by Christina Cannon November 18, 2015

TROY, MICH. — Signature Associates has arranged a 32,686-square-foot lease of high-tech industrial space in Troy, a northern suburb of Detroit. SGS North America Inc. is leasing the space located at 894 Maplelawn Drive from Troy Industrial LLC. John Boyd and Paul Hoge of Signature Associates represented the landlord in the transaction. Anthony Leeds of Signature Associates and Ben Brenner of Cushman & Wakefield represented the tenant.

November 18, 2015

Industrial North Carolina Southeast

Monmouth Acquires 330,717 SF Distribution Center in Metro Charlotte for $32M

by John Nelson November 17, 2015

CONCORD, N.C. — Monmouth Real Estate Investment Corp., a publicly traded REIT, has purchased a new 330,717-square-foot industrial building located at 4690 Global Ave. N.W. in Concord, a northern suburb of Charlotte. Monmouth purchased the distribution center, which is net-leased to FedEx Ground Package System Inc., for nearly $32 million. The facility is located on a 59.4-acre site near I-85.

November 17, 2015

Industrial Midwest Ohio

Lee & Associates Arranges $14.3M Sale of Net-Leased Industrial Building in Ohio

by Christina Cannon November 17, 2015

GENEVA, OHIO — Lee & Associates has arranged the $14.3 million sale of a manufacturing facility used for research and development in Geneva, approximately 50 miles northeast of Cleveland. Triple Net Acquisitions LLC purchased the single-tenant property from Chadbourne Industries and Austieboy LLC. The property consists of 239,454 square feet split between two buildings. The buildings were renovated in 2006 and 2008. At the time of sale, Hunter Defense Technologies (HDT Global Inc.) had 10 years remaining on a 15-year, triple-net lease. HDT Global is a manufacturer of products for mobile expeditionary missions in extreme environments for military, government, industrial and commercial market customers. Ryan Barr, Ryan Bennett and Joseph Greenberg of Lee & Associates represented the sellers in the transaction. Brian Garbutt of Lee & Associates represented the buyer.

November 17, 2015

Industrial Northeast Pennsylvania

Allen Distribution Leases 321,333 SF at Capital Logistics Center in Pennsylvania

by Amy Works November 16, 2015

MIDDLETOWN, PA. — Allen Distribution, a third-party logistics service provider, has signed a lease for 321,333 square feet at 100 Capital Lane within Capital Logistics Center in Middletown. The property features an adhered EPDM (ethylene propylene diene terploymer) roof, seven-inch unreinforced concrete floor with 54 doors with 33 knockout panels. Situated on more than 100 acres, the six-building, 1.5 million-square-foot Capital Logistics Center was recently renovated. A joint venture between Woodmont Industrial Partners and AEW Capital Management owns the logistics center. Kim Meincke and Jason Webb of Jones Lang LaSalle represented the tenant, while Michael Hess, Patrick Lafferty and Bart Anderson of CBRE represented Woodmont Industrial Partners in the transaction.

November 16, 2015

Illinois Industrial Midwest Office

Colliers Arranges 55,251 SF Flex Lease in Chicago Suburb

by Christina Cannon November 16, 2015

FRANKLIN PARK, ILL. — Colliers International has arranged a 55,251-square-foot, long-term flex lease for Tax Air Freight. The 142,447-square-foot building is located at 10700 Waveland Ave. in Franklin Park, a northwest suburb of Chicago. Tax Air Freight will join two other tenants and will bring the facility to 100 percent occupancy. The building is situated on 8.2 acres and offers immediate access to I-294. Tax Air Freight’s facility includes 3,500 square feet of office space, 23 dock positions, 27 trailer stalls and room for 14 truck-parking stalls. Tax Air Freight will occupy the space starting March 2016. Tom Rodeno of Colliers International represented Tax Air Freight in the transaction. Jim Estus of Colliers International represented the landlord, CenterPoint Properties.

November 16, 2015

Industrial Michigan Midwest

Signature Associates Arranges Sale of 23,000 SF Industrial Property in Ann Arbor

by Christina Cannon November 16, 2015

ANN ARBOR, MICH. — Signature Associates has brokered the sale of a 23,000-square-foot industrial property in Ann Arbor. CSFB 2005-C6 Highland Industrial LLC sold the building located at 4260 Varsity Drive to Budget Truck Lease LLC for an undisclosed price. Jay Chavey of Signature Associates represented the seller in the transaction. Cody Bowlds of Sperry Van Ness/Stewart Commercial represented the buyer.

November 16, 2015

Industrial New York Northeast

Brooklyn Navy Yard Development Corp. Unveils Plans for Building 77

by Amy Works November 13, 2015

NEW YORK CITY — Brooklyn Navy Yard Development Corp. has unveiled its plans for Building 77, a $140 million renovation of a 1 million-square-foot industrial building at the Brooklyn Navy Yard. The repositioned property will feature a ground-floor public food hall, space for food manufacturing and a collaboration hub for the growing base of businesses in the area. Upon completion, the renovated building will increase overall employment at the Yard by more than 40 percent, creating 3,000 manufacturing and innovation jobs. Completion is slated for early 2017.

November 13, 2015

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