Industrial

Thibodo Ranch Business Center Industrial Park in Vista Trades for $7.5M

by Nellie Day June 8, 2016

VISTA, CALIF. — La Mirada Drive LLC has acquired Thibodo Ranch Business Center, a 53,572-square-foot industrial business park in the San Diego submarket of Vista, for $7.5 million. The park is located at 2330, 2332, 2336 La Mirada Drive. The LLC plans to stabilize the project and hold as a long-term investment property. Isaac Little, Marko Dragovic, Matt Weaver and Al Apuzzo of Lee & Associates – North San Diego County represented the buyer. Little, Dragovic and Larry Strickland represented the seller, Thibodo Ranch LLC, in this transaction.

June 8, 2016

Industrial Nevada Western

The Bendetti Company Purchases Industrial Facility in Reno

by Nellie Day June 7, 2016

RENO, NEV. — The Bendetti Company has purchased a 631,115-square-foot industrial campus in Reno for an undisclosed sum. The Class B property contains three single-tenant and three multi-tenant buildings for a total of nine fully occupied units. The units range from 12,220 to 149,600 square feet. The property also contains a 12,220-square-foot cold-storage unit. Bendetti was able to complete the all-cash transaction using short-term financing from its partner, JCR Capital. The project was then recapitalized for a longer hold period with Reinsurance Group of America acting as the equity provider. Wells Fargo financed the debt. Both RGA and Wells Fargo were sourced through HFF. Bendetti also recently purchased the 165,000-square-foot Spice Island multi-tenant industrial building in Sparks for an undisclosed sum.

June 7, 2016

California Industrial Western

LRSAC, Cutting Edge Sports Training to Open 3,500 SF Training Center in Ladera Ranch

by Nellie Day June 6, 2016

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.

June 6, 2016

Industrial New York Northeast Office

Kalmon Dolgin Arranges $12.1M Sale of Commercial Building in Brooklyn

by Amy Works June 6, 2016

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.

June 6, 2016

Industrial New Jersey Northeast

NAI Hanson Negotiates Sale of 21,500 SF Industrial Building in New Jersey

by Amy Works June 6, 2016

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.

June 6, 2016

Louisville FedEx Blankenbaker Station Business Park

Industrial Kentucky Southeast

Marcus & Millichap Brokers $41.9M Sale of FedEx Facility in Louisville

by John Nelson June 6, 2016

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.

June 6, 2016

Industrial South Carolina Southeast

Beacon Partners Delivers 40,000 SF Flex Facility in Metro Charlotte

by John Nelson June 6, 2016

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.

June 6, 2016

Industrial Market Reports Southeast Southeast Market Reports Tennessee

Memphis Reaffirms Its Industrial Prowess with Strong 2015 Performance

by John Nelson June 6, 2016

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 …

June 6, 2016

Industrial Texas

PLR Acquires Infill Site in Metro Dallas for Spec Warehouse

by Haisten Willis June 3, 2016

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.

June 3, 2016

Vigavi-realty-fairmont-industrial-center-hydrotex-la-porte-texas

Industrial Texas

Vigavi Realty Breaks Ground on Manufacturing Facility in Metro Houston

by Haisten Willis June 3, 2016

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.

June 3, 2016

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