Industrial

Frito Lay Sells 13.9 Acres for Future Industrial Development in Wheeling, Illinois

by Christina Cannon June 15, 2016

WHEELING, ILL. — Frito Lay has sold 13.9 acres in Wheeling, approximately 30 miles northwest of Chicago, to Hamilton Partners for an undisclosed price. Hamilton Partners plans to build a 134,593-square-foot speculative industrial facility on the land, which is located at 800 Northgate Parkway. The building will include 32-foot clear heights, 35 exterior docks, car and trailer parking and will be divisible by 50,000 square feet. Ryan Bain and Zachary Graham of CBRE represented the seller in the transaction.

June 15, 2016

Illinois Industrial Midwest

Zurn Industries Signs 134,514 SF Industrial Lease at Building in Bensenville, Illinois

by Christina Cannon June 15, 2016

BENSENVILLE, ILL. — Zurn Industries LLC has signed a 134,514-square-foot industrial lease at a building in Bensenville, approximately 25 miles northwest of Chicago. Zurn Industries is relocating from Elkhart, Ind. to the facility at 340 County Line Road. The company’s lease will bring the 184,170-square-foot distribution facility to 100 percent occupancy. Geib Enterprises leases the remaining space. The Class A facility was built in 2015 and features 32-foot clear heights, 38 trailer spaces and 162 car spaces. The building is situated on 11.5 acres. Willam Strey of Cushman & Wakefield represented the tenant in the transaction. Kevin Segerson of CBRE represented the landlord, Hamilton Partners.

June 15, 2016

Colorado Industrial Western

Monmouth Real Estate Acquires Colorado Springs Industrial Building for $28.8M

by Nellie Day June 15, 2016

COLORADO SPRINGS, COLO. — Monmouth Real Estate Investment Corp. has purchased a 225,362-square-foot industrial building in Colorado Springs for $28.8 million. The facility is located at 125 N. Troy Hill Road. It is net leased to FedEx Ground Packaging System for the next 10 years. The property is situated directly across from the Colorado Springs Airport and is in close proximity to Interstate 25.

June 15, 2016

California Industrial Western

BLT Enterprises Buys Four-Property Office, Industrial Portfolio in Orange County for $28M

by Nellie Day June 14, 2016

IRVINE, CALIF. — BLT Enterprises has purchased a four-building portfolio that contains a mix of office, flex and industrial buildings for $28 million. The portfolio contains a total of 170,447 square feet. The assets encompass 11.1 acres and are fully leased. Notable tenants at the facilities include Securitas Security Services USA, Ambry Genetics, Compass Group USA and Exhibitree. The portfolio includes a 73,066-square-foot industrial building at 9700 Toledo Way in Irvine; a 47,662-square-foot industrial building at 12640 Knott St. in Garden Grove; a 41,519-square-foot office/flex building at 15 Argonaut in Aliso Viejo; and an 8,200-square-foot office building in Anaheim. Kurt Bruggeman and Ryan Swanson of Lee & Associates represented BLT. Jeff Chiate and Jeff Cole of Cushman & Wakefield represented the seller, Cordia Capital Management, in this transaction.

June 14, 2016

Industrial Texas

Hangover Opportunity Fund Sells Industrial Complex in Metro Dallas

by Haisten Willis June 14, 2016

CLEBURNE, TEXAS — Hangover Opportunity Fund has sold a fully leased, three-building industrial property situated on 16.8 acres in southeastern Johnson County. The all-cash transaction was made with a private investor from Houston. The seller has spent $250,000 renovating the 144,698-square-foot Grandview Industrial Complex, which was nearly 88 percent vacant when it was bought out of foreclosure three years ago. The fund’s manager, SkyWalker Property Partners, undertook a major upgrade of the shuttered RV conversion plant and subsequently signed three long-term tenants, each leasing an entire building at 8800 FM 916. Noltex Truss DFW Inc. leases the largest building, which spans 82,210 square feet. Leland’s Industries LLC occupies a 44,988-square-foot warehouse, and AES Drilling Fluids LLC leases the smallest structure, which is 17,500 square feet. All three tenants are in place at least three more years. Zane Marcell and Dustin Volz of JLL listed the property. Houston investor Eli Sasson, who represented himself, made an all-cash offer using funds from several 1031 tax-deferred exchanges to complete the acquisition.

June 14, 2016

Industrial Texas

Colliers Arranges Sale of Two Land Tracts in Metro Houston for Warehouse Facilities

by Haisten Willis June 13, 2016

TOMBALL and PASADENA, TEXAS — Colliers International has arranged the sale of two land tracts for the expansion of Restaurant Depot, a wholesale grocery and foodservice supplier, in metro Houston. Restaurant Depot is a division of Jetro Holdings LLC, headquartered in College Point, N.Y. Each tract will house a 60,000-square-foot distribution warehouse store. One of the new locations is a 5-acre site on the west side of SH 249 north of Spring Cypress Road in Tomball. The other location is a 5.4-acre site on the northeast side of Preston Road between East Beltway 8 and Crenshaw Road in Pasadena. The new stores are expected to break ground in the fourth quarter and will be open for business by summer 2017. Marshall Clinkscales of Colliers’ Houston office and Tom Condon Jr. of The Woodlands office represented the buyers, JMDH Real Estate of Tomball LLC and Preston Park LLC, respectively. Keith Edwards with Caldwell Cos. represented the seller of the Tomball location. Alix Fox with Qualified Properties represented Mattie Faye Properties LLC, the seller of the Pasadena location. Kerry Wakefield with Alamo Title Co. coordinated both closings.

June 13, 2016

Georgia Industrial Southeast

CenterPoint Inks 315,810 SF Industrial Lease with Port Logistics Group in Savannah

by John Nelson June 13, 2016

SAVANNAH, GA. — CenterPoint Properties has signed Port Logistics Group Inc. to a long-term, 315,810-square-foot lease at 47 Sonny Perdue Drive in Savannah. The building is located within CenterPoint Intermodal Center near the Georgia Port Authority and the Norfolk Southern Dillard Yard. Situated on 26 acres, the property features 4,785 square feet of office space, 113 trailer parking positions, 50 exterior dock doors, 110 car parking spots, two drive-in doors and reinforced floor slabs. Port Logistics Group is a third-party logistics company that specializes in high-touch distribution for retailers and retail manufacturers through coastal gateway markets. John Simons of NAI Partners and Rex Benton of NAI Mopper Benton represented Port Logistics Group in the lease deal. John Neely and Danny Chase of Colliers International represented CenterPoint.

June 13, 2016

Illinois Industrial Midwest

Amazon to Open Two 700,000 SF Fulfillment Centers in Edwardsville, Illinois

by Christina Cannon June 13, 2016

EDWARDSVILLE, ILL. — Amazon has unveiled plans to open two fulfillment centers in Edwardsville, approximately 30 miles northeast of St. Louis, Mo. The two facilities will create more than 1,000 full-time jobs. Each facility will span more than 700,000 square feet and be located where employees pick, pack and ship items. One building will specialize in handling larger items such as big-screen televisions, sports equipment and kayaks. The other building will handle smaller items such as books, toys and electronics.

June 13, 2016

Industrial Maryland Office Southeast

NAI KLNB Brokers $19.6M Sale of Stonewood Business Center in Metro Baltimore

by John Nelson June 10, 2016

COLUMBIA, MD. — NAI KLNB has brokered the $19.6 million sale of Stonewood Business Center, a four-building office/warehouse development in Columbia, roughly 21 miles southwest of Baltimore in Howard County. The assets span nearly 150,000 square feet and are located at 7165-7195 Oakland Mills Road. The 7165 and 7175 buildings were delivered in 1985, and in 2009, the seller, an affiliate of The Sanford Cos., renovated the two existing buildings and delivered two new buildings. Eight tenants currently occupy the four buildings. Christopher Kubler and Bob Smith of NAI KLNB represented the seller in the transaction. The buyer was J2J LLC.

June 10, 2016

Flagler Station 11700 N.W. 100th Road Medley

Florida Industrial Southeast

Avison Young Arranges 139,105 SF Industrial Lease Renewal in South Florida

by John Nelson June 10, 2016

MEDLEY, FLA. — Avison Young has arranged Primesource Building Products’ 139,105-square-foot lease renewal at 11700 N.W. 100th Road in Medley. Primesource will continue to fully occupy the industrial facility, which is situated within Flagler Station, South Florida’s largest business park. Primesource is a distributor of fasteners and building materials. Wayne Schuchts and Andrew Bonner of Avison Young represented the tenant in the lease deal. Flagler Global Logistics is the developer of Flagler Station, which will span 14 million square feet on 900 acres upon completion. Other Flagler Station tenants include FedEx, Ryder System and Crowley.

June 10, 2016

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