LADERA RANCH, CALIF. — Ladara Ranch Strength and Conditioning (LRSAC) and Cutting Edge Sports Training have partnered to open a sports and fitness training center at Ladera Sports Center in Ladera Ranch. The training facility will occupy 3,500 square feet of space at the $35 million, solar-powered multi-use facility, which is slated to open this summer. Located on Terrace Road, Ladera Sports Center will feature a 60,000-square-foot gymnasium with 48,750 square feet of court spaces, including eight basketball and volleyball courts, that have air conditioning, noise decibel reduction systems, superior wood flooring and ceiling-mount volleyball nets with ample spectator seats per court.
NEW YORK CITY — Kalmon Dolgin Affiliates has brokered the sale of commercial building located at 5718 Second Ave. in Brooklyn’s Sunset Park neighborhood. NYU/Lutheran Medical Center acquired the 32,000-square-foot property from S.I.B.R. Realty LLC for $12.1 million. The two-story building features 20-foot ceilings, a 7,000-square-foot mezzanine and 12,500-square-foot floor plates. Jeffrey Unger and Robert Klein of Kalmon Dolgin represented the buyer and seller in the deal.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has arranged the sale of an industrial building located at 60 Romanelli Ave. in South Hackensack. Main Event-Mauzone Caterers acquired the 21,500-square-foot property from 60 Romanelli LLC for an undisclosed price. The buyer is relocating from Englewood, N.J., and plans to use the space for a commercial kitchen. The property features 14-foot ceiling heights, one loading dock, two drive-in doors, 17 private parking spaces and 2,800 square feet of office space. Tom Vetter and Jeff DeMagistris of NAI Hanson represented the seller in the deal.
LOUISVILLE, KY. — Marcus & Millichap has brokered the $41.9 million sale of a newly built, 303,369-square-foot FedEx industrial facility in Louisville. Built in 2015, the asset is located on a 46-acre lot within the 600-acre Blankenbaker Station Business Park near the convergence of I-64 and I-265. FedEx has a 15-year initial base lease that began when the project was delivered. Seth Richard of Marcus & Millichap’s Manhattan office and Laurie Ann Drinkwater of the firm’s Boston office represented the buyer, a national net-lease investor that has purchased several properties leased to FedEx. Stan Johnson Co. represented the seller, a developer, in the transaction. Aaron Johnson is Marcus & Millichap’s broker of record in Kentucky.
ROCK HILL, S.C. — Beacon Partners has completed the construction of a 40,000-square-foot office and manufacturing facility at 1217 Apex Drive in Rock Hill, a southern suburb of Charlotte in South Carolina. The asset is situated within Waterford Business Park at the corner of Dave Lyle Boulevard and Waterford Park Drive. The tenant, Oerlikon Balzers Coatings USA Inc., has begun a phased move in, which will continue over the summer. The facility was originally a speculative shell industrial building that Beacon Partners purchased from the Rock Hill Economic Development Corp. Oerlikon is a supplier of surface technologies that improve the performance and durability of precision components and tools for the metal and plastics processing industries. Region’s Bank provided construction financing to Beacon Partners for the flex facility. Other project team members include architect Merriman Schmitt and general contractor J.M. Cope.
To say 2015 was a good year for the Memphis industrial market would be an understatement. The Memphis market, which comprises approximately 220 million square feet spread across seven submarkets and three states (Mississippi, Tennessee and Arkansas), set a new record in 2015 with absorption exceeding 8.4 million square feet. This total is nearly double what the market recorded in 2014 and an impressive 2 million square feet more than the record set in 2006. Vacancy also dipped into single-digit territory for the first time ever, falling below the 10 percent mark to a new record low of 9.8 percent. Vacancy fell 370 basis points in 2015 alone, the most significant year-over-year vacancy decrease in market history. The market’s central U.S. location, quadra-modal transportation infrastructure (river, road, runway and rail) and abundant labor force are just a few of the benefits that make it an ideal location for distribution tenants. A total of 18 Class A deals were completed in 2015 by notable companies like Nike, Post, Cummins, Dayco Products, AmerisourceBergen, T.J. Maxx and Coca-Cola, to name a few. Class A buildings made up 6.3 million square feet, or 75 percent, of total absorption. There were five deals north of …
GRAND PRAIRIE, TEXAS — Port Logistics Realty (PLR), a national industrial real estate development and investment company, has purchased an infill site within the Great Southwest Industrial Park in Grand Prairie to develop an 83,125-square-foot speculative warehouse. The Class A building will be situated midway between Dallas and Fort Worth, just south of Dallas-Fort Worth International Airport with access to I-30 and Texas State Highways 183 and 360. According to CBRE, the overall vacancy rate for the 96 million-square-foot submarket is just above 4 percent. PLR plans to break ground on the warehouse in late summer 2016, and completion is slated for the first quarter of 2017.
LA PORTE, TEXAS — Vigavi Realty has completed the sale of a 3.3-acre land parcel at Fairmont Industrial Center for the development of a new 36,000-square-foot manufacturing facility. HydroTex, a Chicago-based pump systems and engineering services firm, purchased the parcel located at 11802 Fairmont Parkway in La Porte. Vigavi Realty has broken ground on the project, which is slated for completion by the end of the year. The facility will expand HydroTex’s real estate footprint in the Houston area. JLL’s Mark Nicholas and Richard Quarles negotiated the terms on behalf of the owner, Vigavi Realty. Lee & Associates’ Preston Yaggi and Stephen Kuper represented the buyer. Architect Terry Kennedy of Munson Kennedy Partnership and Vigavi Realty will lead the project construction. The facility is located 20 miles from Houston’s central business district, near the Port of Houston’s Bayport Container and Barbours Cut terminals.
WINCHESTER, VA. — Equus Capital Partners Ltd. has entered into a build-to-suit lease agreement with Fiat Chrysler Automobiles for the development of a 400,400-square-foot warehouse and distribution facility within Stonewall Industrial Park in Winchester. The facility will create more than 70 new jobs in the region. The industrial park is located along the I-81 Corridor in Frederick County, approximately 75 miles west of Washington, D.C. The property will be a Mid-Atlantic parts distribution center for Fiat Chrysler’s parts, service and customer care organization. Jarred Testa and Michael Walsh of Cushman & Wakefield’s Baltimore office represented Fiat Chrysler in the lease deal. The Class A facility will feature 32-foot clear heights, T5 interior lighting, concrete floors, 50- by 50-foot column spacing and an ESFR sprinkler system. BPG Development Co. LP, Equus’ development operating arm, will oversee development and construction. Equus plans to complete construction by the end of November 2016.
JOLIET, ILL. — Ryan Companies US Inc. has broken ground on a 143,560-square-foot corporate headquarters and warehouse facility for Cadence Premier Logistics. The building will be located at 2250 Chicago St. within the Laraway Crossings Business Park in Joliet, approximately 45 miles southwest of Chicago. The facility will be situated on 44.5 acres and is slated for completion by the end of the year. The facility will feature 22,050 square feet of office space, an additional 22,050 square feet of mezzanine office space for future growth and expansion, 74,620 square feet of warehouse space and 24,840 square feet of breakout area. The building, which is expandable by approximately 94,500 square feet, will be a steel structure with precast concrete wall panels. The facility will also include 184 car stalls, 442 tractor-trailer spaces and an indoor soccer field. Harris Architects Inc. will serve as the architect of record, and Hefner Associates is the civil engineer.