MOUNT LAUREL, N.J. — An affiliate of Endurance Real Estate Group and Thackeray Partners have purchased a warehouse and distribution facility located at 2000 Bishop Gate Blvd. in Mount Laurel. An undisclosed corporate user sold the 305,250-square-foot property for an undisclosed price. The property features 30-foot clear ceiling heights, 25 dock-high loading doors, an ESFR sprinkler system and Comcast fiber service. CBRE represented the seller in the transaction.
COMPTON, CALIF. — Younger Optics has leased a 53,000-square-foot industrial facility in Compton. The five-year lease was valued at $2.3 million. The facility is located at 1900 Artesia Blvd. The company will occupy the space later this month. Frank Schulz, Todd Taugner and David Prior of the Klabin Co. represented Prologis. Jeff Smart of Colliers International represented Younger Optics in this transaction.
WARREN, MICH. — Anji Logistics USA Inc. has signed a lease for 154,377 square feet of warehouse space in Warren, north of Detroit. The former OfficeMax warehouse and distribution center is located at 13301 Stephens Road. The facility will be Anji Logistics’ first location in the United States and serve as the company’s North American headquarters. Sister company Anji-CEVA Automotive Logistics Co. is the largest third-party logistics provider in China. Jason Capitani of L. Mason Capitani CORFAC International represented Anji Logistics in the transaction.
JOLIET, ILL. — Peak Construction Corp. has broken ground on a new 80,000-square-foot warehouse and distribution center for Blue Ribbon Product Co. in Joliet, south of Naperville. The seven-acre site is located in IDI Gazeley’s Rock Run Business Park. The warehouse and distribution center will include 6,000 square feet of corporate office space, a custom-designed training/tasting room, two break rooms, a 4,500-square-foot cooler, a 500-square-foot repacking room, four dock positions and three drive-through loading lanes with possible expansion into a fourth. The project is slated for completion at the end of June. Mike Fonda, Hugh Williams, Matt Knafel and Anne McGrath of Avison Young represented the tenant. Peak has teamed up with Partners in Design Architects Inc. and Jacob & Hefner Associates on the project.
The Southeast’s top seaports and their surrounding industrial real estate markets have braced themselves for years for the larger post-Panamax vessels that can now pass through the newly expanded Panama Canal. The 102-year-old canal opened in late June 2016 following its $5.4 billion expansion, creating a shortcut for the larger ocean carriers coming from Asia. The opening of Panama Canal’s expansion was delayed by two years, missing the 100-year anniversary of its 1914 debut. Shipping companies had their larger vessels in place, though, and decided to ship those vessels to the East Coast via the Suez Canal, according to Walter Kemmsies, managing director, economist and chief strategist of JLL’s U.S. Ports, Airports and Global Infrastructure Group. “As the Panama Canal gets through the learning curve, we’re seeing the number of weekly transits increase, and we’re still in that phase and perhaps will be for the next six months,” says Kemmsies, who is currently engaged with three of the top five seaports in the United States on their master plans. “The ocean carriers are starting to scrap their smaller vessels and moving their services back from the Suez Canal to go through the Panama Canal. Right now the East Coast has …
ANAHEIM, CALIF. — S&A Management has acquired a 156,054-square-foot manufacturing building that serves as the headquarters of Taylor-Dunn for an undisclosed sum. The facility is located at 2114 W. Ball Road in Anaheim, with a two-story office building at 2100 W. Ball Road. The transaction is not expected to impact Taylor-Dunn’s continuing operations. The firm has engineered and manufactured vehicles from its location on West Ball Road for more than 65 years. Jeff Chiate and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group in Irvine represented both the buyer and seller in this transaction. The firm’s Rick Ellison and Randy Ellison also provided local market advisory.
NEW KENSINGTON, PA. — Kacin Cos. has completed the disposition of a warehouse facility located at 350 Alvin Drive in New Kensington. Broadstone Real Estate acquired the property for $15.5 million. Leedsworld Inc. occupies the 239,400-square-foot property, which was constructed in 2015 as a build-to-suit for the tenant. Donovan Mackey, Mark Taylor and Mitchell Cowan of Marcus & Millichap represented the seller, while Mackey also procured the buyer in the deal.
PEMBROKE PINES, FLA. — A joint venture between Atlanta-based Core5 Industrial Partners and Helms Development has acquired a 60-acre land parcel at 2041 Sheridan St. in Pembroke Pines from the city of Pembroke Pines. The team plans to develop a three-building, 750,000-square-foot distribution park known as South Florida Distribution Center at the site. Beginning in April, Core5 and Helms will break ground on Phase I, a 223,008-square-foot spec building. The site is one of the last remaining in southwest Broward to offer build-to-suit options for larger industrial users that need trailer parking, according to Core5. South Florida Distribution Center is Core5’s first project in the state of Florida. The developers have selected Larry Dinner, Larry Genet and Tom O’Loughlin of CBRE to lease the project.
MEMPHIS, TENN. — NAI Saig has arranged a 200,000-square-foot lease for industrial space at 4221 Pilot Drive in Memphis. Hank Martin and Elliot Embry of NAI Saig represented the landlord, Dallas-based Sealy Pilot LLC, in the lease transaction. Jeb Fields of Cushman & Wakefield’s Memphis office represented the Memphis-based tenant, Mallory Alexander International Logistics LLC, a full-service logistics provider that supports manufacturers and retailers. The three-year lease is valued at nearly $1.5 million, according to NAI Saig.
OMAHA, NEB. — Darland Construction Co. has completed a 73,173-square-foot warehouse for Dr. Pepper Snapple Group in Omaha. The facility features 14 truck bays, two maintenance bays, a vending machine repair shop and 7,350 square feet of office space. John Maderak of Darland served as project manager. Avant Architects served as architect.
