Industrial

Diamond Realty Forms Joint Venture for Construction of Industrial Park in Metro Dallas

by Haisten Willis July 31, 2015

WILMER, TEXAS — Diamond Realty Investments, a wholly owned subsidiary and U.S. real estate investment arm of Mitsubishi Corp., has formed a joint venture with Port Logistics Realty to develop the first phase of the 9 million-square-foot, $500 million Southport Logistics Park in Wilmer. The project is of the largest industrial developments currently underway in the United States. Diamond Realty has more than 20 years of real estate investment experience in the U.S., having invested in more than $2.5 billion in approximately 120 developments in the industrial, multifamily and student housing industries. Diamond Realty’s venture partner in Southport Logistics Park is Texas-based Port Logistics Realty, a real estate company controlled by CT Realty and Xebec Realty. When complete, the development will have up to nine buildings ranging is size from 400,000 to 1.5 million square feet on 530 acres. With the first two buildings scheduled for completion in the first quarter of 2016, the Class A industrial park has been designed for large users of distribution, logistics and e-commerce facilities by architectural firm Ware Malcomb. Southport Logistics Park is located within the Inland Port area of southern Dallas County, approximately 10 miles south of Downtown Dallas and directly across Interstate …

July 31, 2015

Duke Realty to Develop 614,880 SF Spec Warehouse Near Atlanta Airport

by John Nelson July 31, 2015

EAST POINT, GA. — Duke Realty’s Atlanta office plans to develop a 614,880-square-foot speculative warehouse in Camp Creek Business Center. Duke Realty owns the 400-acre industrial park, located off I-285 near Hartsfield-Jackson Atlanta International Airport. The property will be located at 4909 N. Commerce Drive in East Point and will feature 36-foot clear heights, 125 dock doors, 337 automobile parking spaces, 125 trailer parking spaces. The development also includes land that can be used for tenants to build concrete truck courts. Duke Realty plans to deliver the asset in January 2016.

July 31, 2015

Florida Industrial Southeast

Flagler Global Logistics Breaks Ground on Port Canaveral’s First Inland Port Facility

by John Nelson July 31, 2015

TITUSVILLE, FLA. — Flagler Global Logistics has broken ground on the new 246,240-square-foot Titusville Logistics Center in Titusville. The ground breaking marks the start of construction of Port Canaveeral’s first multi-modal inland port facility. Set for completion in early 2016, the facility will support expanding cargo and container terminals. The Canaveral Port Authority is the first major tenant at the property, which will have direct rail connectivity to the Florida East Coast Railway and easy access to I-95 and US Highway 1. The property will also be close to Port Canaveral and adjacent to Space Coast Regional Airport.

July 31, 2015

California Industrial Western

Ridgeline Property Group to Develop Tracy Pescadero Distribution Center

by Nellie Day July 31, 2015

TRACY, CALIF. — Ridgeline Property Group has announced its plans to develop Tracy Pescadero Distribution Center, a 381,600-square-foot regional distribution facility, just west of Modesto. The speculative facility will be located at 1700 East Pescadero Ave. in Tracy. The new development will feature feature 32-foot clear heights, 57 dock-high doors, two drive-in doors, a 185-foot truck court, 92 trailer parking spaces, 317 auto parking spaces, and early suppression fast response (ESFR) fire sprinklers. The site has access to interstates 205 and 580, in addition to Highway 99. It is also situated near the Union Pacific and Burlington Northern Santa Fe intermodal facilities. Construction is set to commence this October, with completion scheduled for May. Tom Davis and Darren McFadden of Lee & Associates will market the property. LaSalle Investment Management is Ridgeline’s investment partner on this project.

July 31, 2015

Industrial New Jersey Northeast

NAI Hanson Arranges 23,062 SF Industrial Lease in New Jersey

by Amy Works July 30, 2015

CARLSTADT, N.J. — NAI James E. Hanson has arranged a 23,062-square-foot industrial lease at a newly renovated building located at 495 Barell Ave. in Carlstadt. The newly signed tenant is KS Trading Corp., a manufacturer and marketer of casual clothing for boys. KS Trading Corp. will utilize the building to house and distribute its golf apparel line of clothing as it grows its distribution capabilities and services. The property features three loading docks, ample column spacing and 16-foot ceiling heights. Thomas Vetter and Jeffrey DeMagistris of NAI Hanson represented the landlord, Barell 495 LLC, while William Lee of Eastern International Realty represented the tenant in the long-term lease transaction.

July 30, 2015

Industrial Loans Texas

CBRE Arranges $38M Financing for North Texas Industrial Portfolio

by Haisten Willis July 30, 2015

ARLINGTON, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the Pioneer 360 portfolio in Arlington. CBRE worked on behalf of LaSalle Investment Management to arrange the $38 million non-recourse loan. The nine-year, interest-only loan has a fixed rate of 3.8 percent and was secured through one of CBRE’s life company relationships. The Pioneer 360 portfolio consists of three warehouse and distribution facilities totaling 1.2 million square feet of rentable space. The buildings are 100 percent leased to 13 tenants. The Class A assets are LEED Gold-certified and have clear heights ranging from 24 to 35 feet. Pioneer 360 was completed in 2009 using tilt-up construction on a site formerly occupied by Forum 303 Mall. The portfolio is located in the Great Southwest submarket, providing access to I-30, I-20, State Highway 360, State Highway 161 and DFW International Airport. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured the financing on behalf of the borrower.

July 30, 2015

Industrial Office Texas

New Office/Warehouse Flex Development Planned in Metro Dallas

by Haisten Willis July 30, 2015

ALLEN, TEXAS — JaRyCo Development plans to begin construction on the first of three office/flex buildings known as Tech Center One at the company’s Tech Center on Greenville project in Allen. Construction will begin in September on the 94,000-square-foot project. JaRyCo Development is based in Allen, and the 38,000-square-foot Tech Center One is the 10th development project for the company in the city. Plans call for the project to be developed in phases unless tenant demand requires otherwise. Tech Center One will be built on the south end of the master-planned campus. A landscaped setback along Greenville Avenue with screened loading areas and a parking ratio in excess of code requirements will provide a new home for a variety of companies. An interior clear height of 18 feet, loading doors and a dock-high loading area will allow for product storage. The Tech Center on Greenville is located just north of the intersection of Bethany Drive and Greenville Avenues.

July 30, 2015

Industrial Loans Texas

MCA Funds $5M Acquisition of Industrial Property in Tyler

by Haisten Willis July 30, 2015

TYLER, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has raised a $5 million joint venture equity investment to fund the acquisition of a vacant 536,000-square-foot industrial complex in Tyler. The complex was formerly owned and occupied by Carrier Corp., who sold the property after relocating the plant to Monterrey, Mexico. The property was acquired by a Tyler-based partnership sponsored by Buster Fitzgerald and Jerry Tate. After closing on the purchase in May, the new ownership completed a lease with Trane, a provider of HVAC and building management systems. Trane will initially occupy 100,000 square feet of the property with a takedown schedule to eventually occupy the majority of the complex. Scott Lynn and Brandon Wilhite of MCA arranged the $5 million equity investment with Dallas-based Provident Realty Advisors.

July 30, 2015

Reliable Heating & Air Kennesaw 1305 Chastain Road

Georgia Industrial Southeast

Liberty Property Trust Signs 62,319 SF Industrial Lease in Metro Atlanta

by John Nelson July 30, 2015

KENNESAW, GA. — Liberty Property Trust has inked a 62,319-square-foot lease with Reliable Heating & Air at 1305 Chastain Road in Kennesaw, a northern suburb of Atlanta. The HVAC company’s lease brings the 116,500-square-foot industrial facility to full occupancy. The Kennesaw location will serve as Reliable’s headquarters. Reliable employs more than 320 professionals, manages a fleet of more than 175 trucks and operates a satellite location in Fayetteville, Ga. Kevin Mitchell of Benchmark Commercial represented Reliable in the lease transaction. Trey Barry and Mark Hawks of CBRE represented Liberty.

July 30, 2015

Industrial Texas

Alliance Architects Completes Design for Industrial Project in Metro Dallas

by Haisten Willis July 29, 2015

FLOWER MOUND, TEXAS — Alliance Architects Inc. has completed a two-building speculative industrial project totaling 584,000 square feet in Flower Mound. Designed for Exeter Property Group, Building 1 comprises 231,754 square feet and Building 2 totals 351,832 square feet. F.A. Peinado provided construction services. The project is located within Lakeside Ranch, a 230-acre business consisting of more than 3 million square feet of primarily industrial space. Alliance Architects has designed multiple buildings in the park totaling nearly 2 million square feet. The master-planned development is located two miles from DFW Airport and features enhanced landscaping and a 30-acre natural area with walking trails. Alliance Architects’ team members include Chad Michel and Scott Franckowiak.

July 29, 2015

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