SAN LEANDRO, CALIF. – Ferguson Enterprises has leased a 157,324-square-foot warehouse and distribution building in the Oakland submarket of San Leandro. The Class A facility is located at 1936 Fairway Drive. Ferguson has also leased a contiguous 5.8-acre parcel for its laydown yard. Once completed, it will be the residential plumbing supply company’s largest distribution hub in the region. The landlord is Prologis.
TAYLOR, TEXAS – The Taylor Economic Development Corporation (TEDC) held a groundbreaking ceremony for the construction of its new 50,000 square-foot industrial/manufacturing facility in Mustang Creek Industrial Park on July 9. Houston-based KDW is the designer and contractor of the property. The building will be available for occupancy before the end of 2015. The TEDC has started marketing the space both locally and nationally with the hopes of finding a tenant as soon as possible. TEDC plans to build a total of three buildings of this size and fill them within the next 60 months.
LANCASTER, TEXAS — Ridge Development, the industrial development arm of Transwestern Development Co., has entered a joint venture with Prudential Financial Inc. called Ridge South Dallas I LLC. The joint venture has sold a 164-acre site in the Ridge Logistics Center South Dallas to Van Trust Real Estate LLC. Located at the northeast corner of Dallas Avenue and Telephone Road in Lancaster, the tract was sold for an undisclosed amount. Van Trust Real Estate, which was represented internally in the transaction, plans to develop big-box, speculative bulk industrial buildings on the site. CBRE’s Jack Fraker represented Ridge South Dallas.
ARLINGTON, TEXAS — Bellomy & Co. has arranged the sale of Mansfield Webb Road Self Storage in Arlington. The property consists of 161 climate-controlled, non-climate-controlled and parking units in 21,760 net rentable square feet. The facility occupies three acres with room for expansion and was 70 percent occupied at closing. Bill Bellomy, Michael Johnson, John Owens and John Arnold of Bellomy & Co. marketed the property on behalf of the Omaha, Neb.-based seller. Bellomy & Co. is headquartered in Austin and has offices in Houston, Lubbock and Atlanta.
BURLINGTON, N.J. — Clarion Properties and MRP Industrial have selected Des Plaines, Ill.-based Peak Construction to build Building One within Burlington Industrial Park in Burlington. The 545,000-square-foot build-to-suit warehouse will feature 36-foot clear heights, redundant electrical and diesel fuel fire pump sprinkler systems, and LED light fixtures. Designed to achieve LEED Silver certification, the project is slated for completion in April 2016. The distribution warehouse facility is a full build-to-suit tenant improvement for an undisclosed client.
HOUSTON — Central Wire Inc. has purchased a 30,000-square-foot, crane-ready industrial building on nine acres located at Kieth Harrow Boulevard and Barker Cypress in Houston. The property is known as Bear Creek Industrial Park. The general contractor, Finial Development & Construction, is building the development on spec. Keith Bilski, Neil Martin and Mike Sperandio, with Finial’s in-house brokerage company, represented the seller, FDC Bear Creek LP, in the transaction. Janae Evans and Joe Evans of Evtex Cos. represented the buyer. Central Wire is a producer of specialty wire products.
FRAMINGHAM, MASS. — NorthMarq Capital has secured $1 million in acquisition financing for a 21,940-square-foot warehouse/office property located at 223 Arlington St. in Framingham. The loan, which was provided by a local bank, features a fully amortizing 20-year term. Ed Reikstins of NorthMarq’s Boston office arranged the financing for the undisclosed borrower.
GREER, S.C. — Lincoln Property Trust has signed a 31,200-square-foot lease with Ariens Co. for industrial space at 120 Caliber Ridge Drive. The 62,400-square-foot industrial facility is situated within Caliber Ridge Industrial Park, a 624,000-square-foot industrial park located at I-85 and Highway 101 near Greer’s inland port. Elliott Fayssoux, Brian Young and Kacie Jackson of Cushman & Wakefield | Thalhimer represented Lincoln in the lease transaction. Campbell Lewis of CBRE represented Ariens Co., an outdoor equipment manufacturer based in Wisconsin.
Hawaii is one of – if not the – top-performing industrial market in the country. The city and county of Honolulu, which contains Hawaii’s main shipping port, had a low vacancy rate of 2.05 percent at the end of the first quarter. This vacancy rate peaked at 4.8 percent in 2009. Significant gains have been made since then. The direct weighted average asking net rental rate for industrial users in Honolulu was $13.80 per square foot (NNN) at the end of the first quarter, while operating expenses ran an additional $5.16 per square foot, per year on top of that. Having bottomed out after the downturn in 2009 at $11.20 per square foot, the Honolulu market has gained almost 24 percent since then. Land values have also followed suit. Hawaii is definitely not Chicago or Los Angeles. In fact, both of those markets have individual industrial parks greater in size than the entire Hawaii marketplace, at 39 million square feet. Having said this, Hawaii is in the midst of a construction and tourism boom, with billions of dollars being allocated to urban core renewal projects, light rail, resort renovations and new residential developments. Up until recently, this renewal had occurred …
TOMBALL, TEXAS — Colliers International has arranged sale of a 17.4-acre tract of land at the southwest corner of Hufsmith-Kohrville and Spell roads in Tomball for the relocation and consolidation of Packers Plus Energy Services Inc.’s Houston-based operations to a single campus. The $21 million project, the first for the Tomball Business and Technology Park, will be constructed in phases and consist of a 50,000-square-foot research and development center, a 237,000-square-foot manufacturing building and a multi-story, 40,000-square-foot corporate office building. The seller was Tomball Economic Development Corp. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller. Brandi McDonald of Newmark Grubb Knight Frank represented the buyer. Jane Matthews with Stewart Title Tomball coordinated the closing. Packers Plus is an international oil and gas service company. The new facility in Tomball is expected to create 353 new full-time jobs in Tomball, with 172 of the jobs being created in the first five years of operation.