Industrial

Covington Group Sells 900,000 SF of Industrial Space in Spartanburg, Atlanta

by John Nelson October 12, 2015

SPARTANBURG, S.C. AND ATLANTA — Dallas-based Covington Group Inc. and its affiliates have sold more than 900,000 square feet of industrial property in Spartanburg and Atlanta. The real estate development and investment firm sold the 240,000-square-foot Logistics Pointe: Spartanburg to Austin, Texas-based AIC Ventures. Grice Hunt of NAI Earle Furman represented Covington in the sale. Covington also sold the 657,000-square-foot Logistics Pointe: Atlanta to an affiliate of San Francisco-based Glen Una Management. The former SUPERVALU grocery distribution center was 95 percent leased at the time of sale. Brian Budnick of CBRE Capital Markets Atlanta represented Covington in the transaction. The sales prices for both transactions were undisclosed.

October 12, 2015

Industrial Texas

NAI Partners Arranges Sale of Industrial Building in Houston

by Haisten Willis October 9, 2015

HOUSTON — NAI Partners represented A2Z Investment Properties LLC in the sale of a 7,100-square-foot freestanding industrial building located at 10405 Rockley Road in Houston. Darren O’Conor of NAI Partners represented the seller, A2Z Investment Properties, during negotiations, while Jamie De Leon of South Texas Properties represented the buyer, Chem SPA USA LLC.

October 9, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Port, Diverse Economy Drive Growth in Corpus Christi Real Estate Market

by Haisten Willis October 9, 2015

When people come to Corpus Christi, many of them expect to find a community that has been devastated by the downturn caused by the oversupply of cheap oil and gas. They expect a community with rising unemployment and vacant buildings. Based on the past, they would be correct. However, Corpus Christi and the Coastal Bend have been experiencing a major transformation of their economy, which is now much more diverse. This is partly because of the leadership, hard work and vision of its people, and partly because of good luck caused by the infrastructure that had been put in place by the Port of Corpus Christi. This infrastructure was at the right place at the right time. The Port of Corpus Christi has always been a driving force and major contributor to the economy of Corpus Christi. The port’s leaders knew that if they didn’t make some major changes, they would not remain competitive. The Port of Corpus Christi is the fifth largest port in the U.S. in total tonnage. However, because of the depth of the port channel and the height of the harbor bridge which crosses over the port, the newer, larger ships could not enter the port. …

October 9, 2015

Industrial Office Texas

M&M Arranges Sale of 41,806 SF Office, Industrial Portfolio in Metro Dallas

by Haisten Willis October 8, 2015

PANTEGO, TEXAS — Marcus & Millichap has arranged the sale of a 41,806-square-foot industrial and office portfolio located in Pantego, a suburb of Dallas. Cody Payne of Marcus & Millichap’s Fort Worth office marketed the properties on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was also secured and represented by Payne. The portfolio includes two office buildings and two industrial buildings. Three of the buildings are located on Pioneer Parkway and West Pioneer Parkway. Pioneer Parkway includes a total of 24,034 square feet between the office building and industrial building. 3600 W. Pioneer Parkway is a 6,834-square-foot office building built in 1964. 2321 W. Arkansas Lane is a 10,938-square-foot office/industrial building built in 1980.

October 8, 2015

Phase II King Mill Distribution South Atlanta

Georgia Industrial Southeast

Trammell Crow, Allstate to Develop Phase II of Industrial Park in South Atlanta

by John Nelson October 8, 2015

ATLANTA — Trammell Crow Co. and Allstate have acquired an additional 56.8 acres of land along I-75 in Henry County, part of the South Atlanta industrial submarket. CBRE Global Investors advised Trammell Crow and Allstate in the transaction. The land is adjacent to the venture’s 44-acre land site, which will house the King Mill Distribution Park, an 846,496-square-foot, Class A distribution center. The new 56.8-acre site will house Phase II of King Mill Distribution Park, which will comprise a 759,495-square-foot, Class A warehouse property. Phase II will feature 36-foot clear heights, trailer storage and employee vehicle parking, two separate entrances and a design that can accommodate multiple tenants served by separate entrances. Bill Hare of Burke Holdings represented the seller in the transaction. Mark Hawks and Trey Barry of CBRE will be the leasing team for Phase II of King Mill Distribution Park.

October 8, 2015

Indiana Industrial Market Reports Midwest Midwest Market Reports

Online Retail Sales Spur Growth in Central Indiana’s Industrial Market

by Christina Cannon October 8, 2015

Consumers’ desire for shopping convenience and lower prices is driving online retail sales up, accounting for 7.2 percent of total U.S. retail sales so far in 2015, according to the U.S. Census Bureau. And that percentage is expected to double by 2020. It’s no wonder that the popularity of online shopping also is spurring growth in the industrial segment of commercial real estate, particularly in central Indiana. Over the past three years, the growth of e-commerce has accounted for 55 percent of total industrial net absorption in the United States. In 2015 alone, e-commerce has been responsible for 31 percent of industrial net absorption year to date. During the current expansion, the Indianapolis industrial market ranks eighth among all U.S. industrial markets in terms of total net absorption, according to Cushman & Wakefield. In the second quarter of this year, net absorption for modern bulk space totaled 1.6 million square feet, more than any other industrial segment in the market. Since 2013, nearly 15 percent of industrial square footage leased in metro Indianapolis has been related to e-commerce. The FedEx Factor With a compound annual growth rate of 14 percent since 2008, e-commerce has driven retailers to establish dedicated dot-com …

October 8, 2015

Industrial Loans Texas

Deason Arranges Financing for Acquisition, Expansion of Self-Storage Facilities

by Haisten Willis October 7, 2015

BEAUMONT & HUMBLE, TEXAS — Deason Financial Group has arranged financing for the acquisition of two self-storage properties. In the first transaction, Deason secured financing for the acquisition and expansion of a 42,475-square-foot facility in Humble. The $2.6 million acquisition loan was structured at a 75 percent loan-to-value ratio, with a five-year term and 25-year amortization schedule. Deason also arranged a $2 million construction loan for the 70,000-square-foot expansion of the facility. The loan featured two years of interest-only payments, converting to principal and interest payments for months for the third year. Built in 2005, 68 percent of the facility’s units are climate controlled. In the second deal, Deason arranged $4.5 million in financing for the acquisition of an 82,390-square-foot facility in Beaumont. The loan included a 75 percent loan-to-value ratio, with a 10-year term, 30-year amortization schedule and three years of interest-only payments. Built in 2010, the facility has a total of 632 units and 83 percent are climate controlled. Todd Kelsey of Deason Financial Group handled each transaction.

October 7, 2015

Industrial Maine Northeast Office Retail

CBRE | The Boulos Company Arranges Two Transactions in Maine

by Amy Works October 7, 2015

PORTLAND AND AUBURN, MAINE — CBRE | The Boulos Company has arranged two transactions in Maine. In the first transaction, Wayne Enterprises LLC has acquired a retail and office investment property at 622-624 Congress St. in Portland. The 21,112-square-foot property is currently occupied by United States Postal Service and Mercy Hospital. The seller was Stone Coast Properties LLC. Joe Porta of CBRE | The Boulos Company arranged the transaction. In the second transaction, CEVA Logistics signed a lease for 47,000 square feet of industrial space at 55 Logistics Dr. in Auburn from Gendron & Gendron Inc. Craig Young and Chris Paszyc of CBRE | The Boulos Company arranged the transaction. The sales prices of the transactions were not released.

October 7, 2015

Industrial Northeast Vermont

Nedde Real Estate Brokers 5,000 SF Warehouse Lease in Vermont

by Amy Works October 7, 2015

WILLISTON, VT. — Nedde Real Estate has arranged the lease of 5,000 square feet of warehouse/storage space at 54 Echo Place in Williston. Green Mountain Imports, the parent company of Evelots.com, will occupy the space. The property is owned by Malcolm Willard. Grant Butterfield of Nedde Real Estate brokered the transaction.

October 7, 2015

Industrial Midwest Ohio

Lancaster Port Authority Begins Development on 50,400 SF Industrial Building in Ohio

by Christina Cannon October 7, 2015

LANCASTER, OHIO — The Lancaster Port Authority and Lancaster Area Community Improvement Corp. (LCIC) have broken ground on a 50,400-square-foot, $2.4 million industrial building in Rock Mill Industrial Park in Lancaster, about 31 miles southeast of Columbus. The new building will be able to expand 25,000 square feet and will have 28-foot ceiling heights. The property is situated on a 6.6-acre lot and is slated for completion in early 2016. The City of Lancaster awarded Rock Mill Industrial Park a community reinvestment area designation providing 100 percent / 15-year real property tax abatement on improvements. Rock Mill Industrial Park is zoned heavy industrial and has full utilities.

October 7, 2015

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