Industrial

McCraney Buys 66 Acres in Orlando for 1.1M SF Industrial Development

by John Nelson July 8, 2015

ORLANDO, FLA. — McCraney Property Co. has purchased 66 acres at the intersection of Taft Vineland Road and the Florida Turnpike, which is adjacent to the company’s existing Bent Oak Industrial Park in Orlando. The company plans to develop six buildings totaling 1.1 million square feet on the site. The project is officially Phase II of Bent Oak Industrial Park, which McCraney plans to deliver by the end of the second quarter of 2016. The design team for Phase II includes general contractor Edwards Construction Services Inc. and architect C4 Architecture LLC.

July 8, 2015

Industrial Texas

HFF Arranges Sale of Industrial Facility in Houston

by Haisten Willis July 7, 2015

HOUSTON — HFF has arranged the sale of 8451 Market St., a 120,810-square-foot industrial facility in Houston. HFF marketed the asset on behalf of the seller, Mayfield Properties LP. ATCAP Partners purchased the asset for an undisclosed amount and was assisted by HFF in arranging acquisition financing. The property is situated on five acres near the intersection of I-10 East and Loop 610 adjacent to the Budweiser beer plant and the Houston Ship Channel, six miles east of Houston’s central business district. The property features 24-foot ceiling heights and a 7.8 percent office build-out. Tenants at the fully leased facility include Santini Export Packaging Corp., who has been in continuous occupancy since the early 1980s, as well as Area Wholesale Tire and Interglobal Plastics. Rusty Tamlyn, Trent Agnew and John Rogers led the HFF investment sales team representing the seller. Brian Carlton led HFF’s debt placement team.

July 7, 2015

California Industrial Western

Santa Clarita Industrial Building Sells for $2.7M

by Nellie Day July 7, 2015

SANTA CLARITA, CALIF. – A 22,470-square-foot industrial building in the Los Angeles submarket of Santa Clarita has sold to Stanford Avenue Industrial LLC for $2.7 million. The building is located at 27822 Fremont Court. The seller, Neotech Products, will be relocating to a facility in nearby Valencia. The LLC was represented by Joel Hutak of Lee & Associates. The seller was represented by Trevor Gale and Jon Reno of Heger Industrial.

July 7, 2015

Arizona Industrial Western

Jack Travis Logistics to Relocate to Phoenix Industrial Space

by Nellie Day July 7, 2015

PHOENIX – Jack Travis Logistics has signed a lease for 20,000 square feet of industrial space in Phoenix. The new facility at 236 E. Pima Street will allow the modern freight shipping and logistics company to relocate from nearby Tempe. Its new space is within the Pima Distribution Center. Jack Travis was represented by John Grady and Jackie Orcutt of Cushman & Wakefield’s Industrial Properties group. The landlord, TPRF II/Pima Industrial LLC, was represented by Stein Koss and Tom Louer of Lee & Associates.

July 7, 2015

Industrial New York Northeast

Atlantic Beverage Co. Leases 97,800 SF in New Jersey

by Amy Works July 7, 2015

SOUTH PLAINFIELD, N.J. — Atlantic Beverage Co. has signed a lease for 97,800 square feet of industrial space at 450 Oaktree Road in South Plainfield. The 257,000-square-foot property features 21-foot ceiling heights, 14 tailboards, one drive-in door, more than 150 car parking spaces, parking for 50 trailers and proximity to Interstate 287 and the New Jersey Turnpike. Steve Bussel of Bussel Realty Corp. represented the tenant and the landlord, Paramount Assets, in the transaction.

July 7, 2015

California Industrial Market Reports Western Western Market Reports

Los Angeles Industrial Market Feels the Pinch

by Nellie Day July 7, 2015

The industrial market in Los Angeles County is extremely tight and shows no signs of letting up as the trend for conversion of industrial property to creative office space by tech and media industries is very prevalent. Many industrial property owners either sell their assets and realize major equity gains with the new buyer planning a conversion, or choose to convert it to creative office themselves, garnering two to four times the rental rate for creative space. The vacancy rate of 3.2 percent in the first quarter of 2015 was parallel to that of the last quarter of 2014. To give some perspective, the downward trend of industrial vacancy has continued since the second quarter of 2013 when vacancy posted at a 5 percent rate. Additionally, the majority of larger industrial development in the region is build-to-suit product, which has virtually no impact on vacancy. The Downtown Los Angeles industrial market continues this trend of industrial property conversion to creative office. The Arts District is ground zero for this. While the rejuvenation and gentrification of Downtown is a welcome sight, the industrial users are now having to relocate, seeking other spaces throughout the LA basin. Many of these users are …

July 7, 2015

Industrial Texas

CBRE Renews Two Logistics Tenants at Renovated El Paso Industrial Centers

by Haisten Willis July 6, 2015

EL PASO, TEXAS — CBRE has arranged two long-term lease renewals for logistics tenants in El Paso. The buildings are part of a larger industrial portfolio purchased by Phoenix-based ViaWest Group earlier this year. Foreign trade and door-to-door logistics services firm Jichasa renewed a 20,000-square-foot lease at 7189 Merchant Ave., with plans for future expansion. The El Paso operations support a powdered milk supplier in Chihuahua, Mexico. Third party logistics provider Superior Transport & Logistics Inc. also renewed a 20,000-square-foot lease at 7157 Merchant Ave. Since acquiring the four-building, 245,745-square-foot portfolio in March, ViaWest Group has installed new roofing, resurfaced the parking lots and updated the exterior paint. Additional renovations are planned for the future. The portfolio is 58 percent occupied. Arturo De la Mora with CBRE’s El Paso office represented the landlord in lease negotiations.

July 6, 2015

Industrial Midwest Missouri

Hilliker Corp. Arranges 5,250 SF Lease in Chesterfield, Mo.

by Amy Works July 6, 2015

CHESTERFIELD, MO. — St. Louis-based Hilliker Corp. has arranged a 5,250-square-foot lease for B&G Industries, a material handling solution provider. The company relocated to 717 Crown Industrial Court from 744 Spirit of St. Louis Blvd. in Chesterfield. The new location offers 1,500 square feet of office space and 3,750 square feet of warehouse storage space. Will Aschinger of Hilliker represented the tenant, while Scott Properties represented the landlord, Scott Family Properties, in the transaction.

July 6, 2015

Florida Industrial Southeast

The Carlyle Group Acquires 50-Acre Yacht Repair Facility in Fort Lauderdale

by John Nelson July 6, 2015

FORT LAUDERDALE, FLA. — The Carlyle Group has acquired the Lauderdale Marine Center, the nation’s largest yacht repair facility in terms of volume capability. The project is located at 2001 S.W. 20th St. in Fort Lauderdale. The global asset manager purchased the 50-acre facility via Carlyle Realty Partners VII, a U.S. real estate investment fund. The facility features a boatyard, marina and marine service center with 19 covered sheds, three marine travel lifts and 156 wet slips. The marine center’s offices and work stations are leased to 60 on-site contractors that provide services such as fiberglass repair, electrical, painting, brokerage and insurance. The Carlyle Group plans to add more pavement to allow more yacht repair space, complete renovations to an adjacent boatyard to incorporate into the facility and develop a new management and leasing office on-site. Julie Fisher Berry of Stiles Realty represented the sellers, Selvin Passen and business partner Morio Mito, in the transaction. The sales price was not disclosed, but the Sun-Sentinel reports that the transaction could have totaled $140 million to $150 million.

July 6, 2015

Industrial Southeast Tennessee

Automotive Firm Leases 231,625 SF of Industrial Space in Chattanooga

by John Nelson July 6, 2015

CHATTANOOGA, TENN. — Yanfeng USA Automotive Trim Systems, an automotive product supplier, has leased a 231,625-square-foot industrial property located at 7463 Bonnyshire Drive in Chattanooga. The lease term is 10 years for the Chattanooga facility, which is Yanfeng USA’s fourth U.S. location. L. Mason Capitani CORFAC International and its CORFAC affiliate in Nashville, Chas. Hawkins CORFAC International, represented Yangeng USA in the lease transaction.

July 6, 2015

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