Industrial

The Hollingsworth Cos. Breaks Ground on 126,800 SF Industrial Facility in Tennessee

by John Nelson August 5, 2016

CLINTON, TENN. — The Hollingsworth Cos. has begun construction on its fourth industrial facility within Dave Jones Industrial Park in Clinton, a city in Anderson County near Knoxville. The new 127,600-square-foot, Class A facility has the capacity to expand to 172,600 square feet and will feature 32-foot clear heights and eight dock doors. Hollingsworth Cos. has signed A&S Building Systems to pre-lease 13,100 square feet of office space at the new property. Hollingsworth plans to start construction on a fifth facility within Dave Jones Industrial Park in early 2017. Hollingsworth’s prior projects in Anderson County include facilities for Advanced Auto Co., Seneca Medical and Durakon.

August 5, 2016

Georgia Industrial Loans North Carolina Retail Southeast

AloStar Funds Three Acquisition Loans Totaling $20.5M for Industrial, Retail Assets

by John Nelson August 5, 2016

ATLANTA — AloStar has provided three loans totaling $20.5 million for the acquisition of industrial and retail assets in North Carolina and Georgia. AloStar funded a $9 million loan to ColumbusNova for the purchase of a 159,810-square-foot manufacturing facility in Mooresville, N.C. The property will be leased to a specialty beverage producer. AloStar also funded a $7.3 million loan to a joint venture for the purchase and renovation of a 272,396-square-foot industrial asset in Durham. The joint venture was between Trinity Capital Advisors and SilverCap Partners. AloStar also provided a $4.2 million loan to SunCap Opportunity Fund for the purchase of Uptown Square, a 72,277-square-foot shopping center in Fayetteville, Ga. The asset is anchored by Goodwill and Harbor Freights Tools. AloStar is headquartered in Birmingham, Ala., and its commercial office is located in Atlanta.

August 5, 2016

Industrial Texas

CBRE Brokers Sale of 188 Acres in Metro Houston

by Haisten Willis August 5, 2016

PASADENA, TEXAS — CBRE has brokered a land sale of 188 acres near the intersection of State Highway 225 and Beltway 8 in Pasadena. The buyer, an energy infrastructure company, plans to use the acreage, located at 3503 Pasadena Freeway, to build a marine terminal that will improve its vessel and barge access at the Houston Ship Channel. CBRE’s Patrick Rollins represented the buyer in the land purchase. Cushman & Wakefield represented the seller.

August 5, 2016

Industrial Northeast Pennsylvania

Colliers Negotiates $2.8M Acquisition of Industrial Facility in Pennsylvania

by Amy Works August 4, 2016

WEST CHESTER, PA. — Colliers International has arranged the acquisition of an industrial facility located within Birch Run Industrial Park at 16 Hagerty Blvd. in West Chester. Turf Equipment and Supply Co. purchased the property for $2.8 million. The buyer will relocate to the property from Kennett Square, Pa., and occupy 21,670 square feet of the facility, which was the former home of VF Technologies. The remainder of the 35,150-square-foot building is fully occupied by professional services tenants. Larry Bergen of Colliers represented the buyer, while Steve Italiano of Italiano Commercial Real Estate Services represented the seller in the deal.

August 4, 2016

California Industrial Western

National Storage Affiliates Acquires 22-Property Self-Storage Portfolio in SoCal

by Nellie Day August 4, 2016

LOS ANGELES — National Storage Affiliates has purchased a 22-property self-storage portfolio in Southern California for an undisclosed sum. The properties are situated throughout Anaheim, Riverside, Apple Valley, South Gate, Harbor City, Grand Terrace, Palmdale, Victorville, Rosamond and San Diego. The transaction also includes seven facilities in Bakersfield and one in Fresno. The portfolio has a combined occupancy of approximately 92 percent. The facilities contain a total of 1.6 million square feet. CBRE’s Nicholas Walker represented both the buyer and seller, CPA: 17-Global, in this transaction. Extra Space Storage manages the portfolio.

August 4, 2016

Features Industrial Top Stories

Declining U.S. Industrial Vacancy Rates Tied to E-commerce Growth

by Haisten Willis August 4, 2016

The U.S. industrial vacancy rate dropped 20 basis points (bps) to 8.8 percent during the second quarter of 2016, largely driven by companies building or leasing warehouse space to meet continued demand for e-commerce shopping, according to CBRE. The decline marked the 25th consecutive quarterly drop in available U.S. industrial space. “Plummeting U.S. industrial vacancy rates signify that this sector of the commercial real-estate market is benefitting from increasing acceptance of the e-commerce model,” says Chris Roach, president of BBG Valuation, an independent national commercial real estate valuation and assessment firm headquartered in Dallas. “We anticipate this downward trend in vacancy rates will continue for at least the remainder of this year.” According to CBRE’s second-quarter U.S. industrial and logistics report, the national industrial market expanded for a 25th consecutive quarter, logging 66.2 million square feet of positive net absorption. This was up 8 percent over the previous quarter. At the same time, a total of 41.6 million square feet of new supply was added nationally, which failed to keep up with demand. The growing trend in e-commerce shopping is expected to continue to fuel demand for warehouse space, which is needed to store inventory for shipping directly to consumers …

August 4, 2016

Industrial Texas

Stream, USAA Break Ground on 397,600 SF Warehouse in New Braunfels

by Haisten Willis August 3, 2016

NEW BRAUNFELS, TEXAS — Stream Realty Partners and USAA Real Estate Co. have begun construction on the I-35 Logistics Center located on I-35 in New Braunfels. Construction has commenced on the 397,600-square-foot, Class A warehouse with delivery expected in March 2017. Stream is developing the project to accommodate tenants from 87,000 to 397,000 square feet. The project will also offer up to 4.2 acres of I-35 frontage land, available for separate purchase.

August 3, 2016

Industrial Maryland Southeast

Chesapeake Real Estate, Thompson Creek Window Sell Two Industrial Facilities in Maryland for $33M

by John Nelson August 3, 2016

HANOVER, MD. — A partnership between Chesapeake Real Estate Group LLC and Thompson Creek Window Co. has sold two industrial buildings totaling nearly 300,000 square feet in Hanover. PGIM Real Estate purchased the properties from the partnership for $33 million. The assets are located within Penn 95 Commerce Center and include a 167,500-square-foot spec warehouse building at 8210 Penn Randall Place and a 117,000-square-foot build-to-suit warehouse and manufacturing facility leased to Thompson Creek Window at 8300 Pennsylvania Ave. Brook Furniture Rental Inc. recently leased 66,606 square feet at the spec warehouse building.

August 3, 2016

Industrial New York Northeast

Eastern Consolidated Arranges $5.7M Sale of Development Site in Brooklyn

by Amy Works August 3, 2016

NEW YORK CITY — Eastern Consolidated has arranged the sale of a development site located at 21 Powers St. in the Williamsburg section of Brooklyn. Powers 21 LLC acquired the site from 21 Powers LLC for $5.7 million, or $428 per square foot. A one-story warehouse occupied the site, which features 13,438 buildable square feet. Scott Burk and Jacob Tzfanya of Eastern Consolidated represented the seller, while Chad Sinsheimer of Eastern Consolidated represented the buyer in the deal.

August 3, 2016

Industrial New Jersey Northeast

Colliers Negotiates $4.1M Sale of 115,300 SF Manufacturing Facility in New Jersey

by Amy Works August 2, 2016

PENNSAUKEN, N.J. — Colliers International has brokered the sale of a manufacturing facility located at 7001 N. Park Drive within Airport Industrial Park in Pennsauken. A private equity firm, which owns Standard Merchandising, acquired the 115,300-square-foot facility from Contemporary Graphics for $4.1 million. Standard Merchandising, a sock manufacturing company, will occupy the property. Marc Isdaner and Ian Richman of Colliers were the sole brokers in the deal.

August 2, 2016

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