ELIZABETH, N.J. — Prologis has entered into a build-to-suit lease agreement with Fedway Associates, a wine and spirits distributor. The company will occupy a 539,000-square-foot stand-alone building at Prologis Ports Elizabeth-Seaport at 10 North Ave. East in Elizabeth. Located off Exit 13A on the New Jersey Turnpike, the distribution center will feature a 539,308-square-foot building and a planned 204,253-square-foot facility.
NEW YORK CITY — Gabrielli Truck Sales Ltd. has acquired a 5.1-acre land tract adjacent to John F. Kennedy International Airport in Queens. Philips International sold the site for $7.8 million. The buyer plans to construct a facility for its own use on the site. Michael Nachamkin and Evan Pariser of HFF represented the seller in the transaction.
HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.
FORT WORTH, TEXAS — Hillwood, BNSF Railway and Packwell plan to build a plastics export packaging facility in the rail-connected Alliance Westport industrial sector, located within Hillwood’s AllianceTexas development in north Fort Worth. The facility will be part of a global supply chain route enabling Packwell, a Gulf Coast resin packager, to ship containerized plastic resins to end users utilizing ocean steamship lines that are affiliated partners with BNSF. The steamship lines operate between the BNSF Alliance Intermodal terminal and Asia via West Coast ports in Los Angeles, Long Beach and Oakland, Calif. BNSF trains will deliver bulk covered hopper cars from new and expanded Gulf Coast plastics production facilities to Packwell’s new facility at AllianceTexas. Packwell will package the bulk resin and dray loaded containers to the BNSF ramp. The loaded containers will be delivered utilizing a heavy-load corridor from the Packwell’s packaging facility to BNSF’s Alliance Intermodal Terminal, located less than a mile away.
WACO, TEXAS — Polyglass U.S.A. plans to establish a manufacturing operation in Waco. The company will invest $19 million to build a 145,000-square-foot industrial facility at 1701 Exchange Parkway to produce modified bitumen roofing membranes. Employment is expected to reach 45 full-time associates within the first three years of operation. The Polyglass roofing facility in Waco will produce a waterproof membrane system used for commercial and industrial roofing systems. The membrane system is designed to increase roof life expectancy and is also environmentally friendly and energy efficient. The company will receive a grant from the Waco/McLennan County Economic Development Corp., as well as tax abatement participation by the city and county.
NORTH CHARLESTON, S.C. — Lineage Logistics LLC, a warehousing and logistics company backed by investment firm Bay Grove, has opened its 180,000-square-foot cold storage distribution center in North Charleston. The property is located at 7748 Palmetto Commerce Parkway within Palmetto Commerce Park. Lineage Logistics worked with the South Carolina Ports Authority to facilitate the new property. Norfolk Southern provides rail service to the facility, which features 30 truck doors, four rail doors and parking for 100 cars.
A rebounding economy and robust population growth are driving strong fundamentals across all segments of Raleigh-Durham’s commercial real estate industry. The region added 30,105 jobs during the 12 months ending September 2015, a growth rate of 3.1 percent. Users of all product types are facing rising occupancy costs and fierce competition for quality space. The Raleigh-Durham industrial market experienced positive net absorption of 721,185 square feet through the first three quarters of 2015, marking the sector’s fifth consecutive year of expansion. Increased tenant demand, combined with a lack of new construction, has driven vacancy back to pre-recession levels. Overall vacancy for warehouse and flex space ended the third quarter at 7.5 percent, down by 130 basis points year-over-year. Warehouse vacancy fell by 160 basis points to 6 percent during the same period and is down from a cyclical high of 10.2 percent. Flex vacancy ended the third quarter at 11 percent, down by 60 basis points year-over-year and from a cyclical high of 16.5 percent. Leasing activity has been broad based, driven primarily by organic growth in the region’s existing tenant base. Among the industries fueling the largest transactions are third-party logistics, e-commerce, manufacturing and housing and construction. Finally back …
FREMONT, CALIF. — A private investor has purchased a 34,272-square-foot industrial building in Fremont for $5.2 million. The property is located at 48351 Lakeview Blvd., within the Bayside Business Park. The facility is situated near Tesla’s manufacturing plant. Rick Bland, Garrett Drew and Andrew Stoddard of Lee & Associates Oakland represented the seller, Cenco Investment LLC, in this transaction.
FREDERICKSBURG, PA. — USAA Real Estate Co., in partnership with Trammell Crow Co., has completed the development of Lebanon Valley Distribution Center in Fredericksburg. The 874,126-square-foot warehouse/distribution building features a cross-dock design with 36-foot clear heights, ESFR sprinklers, 123 dock doors, two drive-in doors and parking for 219 cars and 202 trailers. Additionally, the property is expandable to up to 1 million square feet, 155 dock doors, 870 car parking spots and 247 trailer stalls with the potential of an additional 385 remote stalls. The project is the third project in the region completed by USAA RealCo and Trammell Crow.
RICHARDSON, TEXAS — Alliance Architects Inc. has been awarded shell and interior design services for the expansion of DataBank’s facility in Richardson. The building is located within Digital Realty’s Dallas Data Center Park campus. In addition to 11,000 square feet of data hall dedicated to customer hardware, the 16,000-square-foot expansion will also feature technical areas, offices and customizable storage space.
