Industrial

NAI Mertz Arranges Sale of Warehouse Property in Hatboro, Pa.

by Amy Works November 3, 2015

HATBORO, PA. — NAI Mertz has brokered the sale an industrial building located at 250-252 Wood St. in Hatboro. Read Moving Systems sold the 26,700-square-foot property to Mastrocco Moving & Storage for an undisclosed price. The moving and storage company is relocating from its current facility at 1060 Louis Dr. in Warminster, Pa. Situated on 1.4 acres, the building features 22- to 32-foot ceiling heights, wide column spacing, four tailgates, one drive-in and a 3,000-square-foot office area. Jeffrey Licht and Adam Lashner of NAI Mertz represented the seller in the transaction.

November 3, 2015

Industrial Southeast Tennessee

C&W Brokers 316,666 SF Distribution Lease for DYK Automotive in Memphis

by Haisten Willis November 2, 2015

MEMPHIS, TENN. — Cushman & Wakefield has brokered a lease renewal and expansion for DYK Automotive’s distribution operations at 4500 Malone Road in Memphis. The 316,666-square-foot transaction represents an increase in Class A industrial activity in the regional market. DYK Automotive, a national aftermarket automobile parts and accessories distributor, initially leased 150,000 square feet at 4500 Malone Road. An operating unit of Dobbs Management Service, the company provides branded and private label packaged oil, chemicals, parts and accessories to various customer channels and markets. Its divisions include AP Auto, Keltner Enterprises and Superior Automotive, each with more than 50 years of operating history. Kemp Conrad of Cushman & Wakefield orchestrated DYK Automotive’s renewal/expansion. Tim Mashburn of Colliers International represented the property owner.

November 2, 2015

California Industrial Western

Tekton Hospitality Signs Industrial Lease in Rancho Cucamonga

by Nellie Day November 2, 2015

RANCHO CUCAMONGA, CALIF. — Tekton Hospitality has signed a seven-year lease for 118,615 square feet of industrial space in Rancho Cucamonga. The property is located at 10955 Arrow Route. Tekton is an American custom furniture manufacturing company that processes single- and high-volume units. Randy Lockhart of NGKF represented the company. Lee & Associates represented the landlord, 10955 Arrow LP.

November 2, 2015

Illinois Industrial Midwest

Millennium Properties R/E Arranges Sale of 69,000 SF Industrial Infill Property in Chicago

by Christina Cannon November 2, 2015

CHICAGO — Millennium Properties R/E has arranged the sale of a 69,000-square-foot infill industrial site in the Old Irving Park neighborhood of Chicago. The parcel of land is in the Knox Industrial Corridor. Dayton Street Partners purchased the site for an undisclosed amount from North Shore Investment Group and plans to redevelop it as a 40,000-square-foot distribution center. Dayton Street Partners’ development plan calls for 30-foot clear heights, four dock doors, two drive-in docks and T8 lighting. Millennium Properties R/E, which represented the undisclosed seller in the transaction, is a boutique brokerage and property management company.

November 2, 2015

Industrial Northeast Pennsylvania

Dermody Properties, PCCP Break Ground on 475,800 SF Industrial Facility in Eastern Pennsylvania

by Amy Works November 2, 2015

FORKS TOWNSHIP, PA. — Dermody Properties and PCCP have broken ground on LogistiCenter at 33, an industrial facility at 4200 E. Braden Blvd. in Forks Township. The 475,800-square-foot facility will feature 36 feet of clear height, 226 car parking spaces and 85 trailer parking spaces. The speculation building will be ready for occupancy by summer 2016. R.S Mowery & Sons Inc. is serving as general contractor and Randall Paulson is serving as architect for the project. Dermody Partners is the industrial developer and operating partner, while PCCP is the financial partner on the project.

November 2, 2015

Florida Industrial Market Reports Southeast Southeast Market Reports

Small Tenants Causing Big Demand for Industrial Product in Orlando

by John Nelson November 2, 2015

The industrial market in Orlando has undoubtedly experienced robust leasing activity over the first half of 2015, especially among the smaller users ranging from 3,000 to 10,000 square feet. With an average industrial vacancy rate of 9.3 percent throughout Southeast / Southwest Orlando according to second quarter 2015 market reports, quality space for smaller tenants is becoming more and more scarce and available dock-high small space is virtually nonexistent. Industrial is Rebounding Two specific factors can be directly linked to the current industrial shifts in Central Florida: construction spending and theme park growth. The construction industry is booming, in particular within the single-family and multifamily sectors, allowing construction companies of all sizes market share due to high demand for services. Industrial parks are welcoming back smaller construction business owners that may have downsized and operated out of their homes during the downturn but are now looking for larger warehouses and mixed-use spaces for business. Secondly, theme park expansions, spurred by the record year of tourism in Orlando in 2014, have caused many businesses that were on the back lots of the parks to be pushed back out into the marketplace. Higher tourism rates represent a boost in consumer confidence and …

November 2, 2015

Arizona Industrial Western

LKQ Corp. Leases 46,054 SF at Canal Crossing Logistics Center

by Nellie Day October 30, 2015

PHOENIX — LKQ Corp. has leased 46,054 square feet of additional space at Canal Crossing Logistics Center. The building is located at 5670 S. 32nd St. The company now occupies the entire 155,114-square-foot building. LKQ Corp. is an international provider of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks and recreational and performance vehicles. CBRE’s Mike Parker and Evan Koplan and Jacob Bobek of Avison Young represented LKQ. Jeff Conrad and Allen Lowe, principals with Lee & Associates represented the landlord, Bixby Land Co.

October 30, 2015

California Industrial Western

Covington Group Buys Industrial Facility in Antioch

by Nellie Day October 30, 2015

ANTIOCH, CALIF. — The Covington Group has purchased a 650,000-square-foot industrial facility in Antioch, located in San Francisco’s East Bay region. The two-building property is currently 85 percent leased. The Antioch submarket is known for its logistics groups, warehouse users and light manufacturing companies. This is due to its lower facility costs, a reliable supply of labor and a lower cost of living as compared to San Francisco and Oakland. Covington was attracted to the asset because it allowed the firm to purchase a near-stabilized asset at a discount to replacement cost.

October 30, 2015

Industrial Texas

Lee & Associates Negotiates 33,810 SF Industrial Lease in Dallas

by Haisten Willis October 30, 2015

DALLAS — Lee & Associates has completed a lease transaction for a 33,810-square-foot space located at 3000 W. Commerce St., Suite 110, in Dallas. Lee & Associates represented both the landlord and tenant in the transaction. Adam Graham and Mark Graybill represented the landlord, First Industrial Realty Trust. Reid Bassinger represented the tenant, Summit Direct Mail.

October 30, 2015

Industrial Michigan Midwest

Colliers Arranges Sale of 30,000 SF Industrial Building in Rochester Hills, Michigan

by Christina Cannon October 30, 2015

ROCHESTER HILLS, MICH. — Colliers International has arranged the sale of a 30,000-square-foot industrial building in Rochester Hills, a northern suburb of Detroit. JAS Commodities LLC sold the facility to 1655 Hamlin Acquisition LLC for $1.1 million. Deborah’s Stage Door was built in 2007 and is a dance and performing arts studio.The asset is located at 1655 W. Hamlin Road. Peter J. Kepic and Peter E. Kepic of Colliers represented both parties in the transaction.

October 30, 2015

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