ONTARIO, CALIF. — Majestic Realty Co. has broken ground on a 239,400-square-foot, build-to-suit warehouse and manufacturing/production facility in Ontario. The site, which was the former home of the Sunkist factory, is located at 752 Campus Ave. Melmarc will occupy the property. The screen printing package company will consolidate its multiple Orange County operations and headquarters into this single facility. The building is scheduled for completion and occupancy in early 2017.
HOUSTON — NAI Partners has brokered the purchase of a 15,000-square-foot warehouse facility on two acres within Hardy Industrial Center located at 21430 Spring Bridge Drive in Houston. Michael Keegan of NAI Partners represented the buyer, Spring Bridge Properties LP, during the negotiations. Richard Quarles and Mark Nicholas of JLL represented the seller, Vigavi Realty LP.
DURHAM, N.C. — A joint venture between Trinity Capital Advisors and SilverCap Partners has purchased Research Tri-Center North III and IV, a 272,396-square-foot warehouse and distribution facility located at 2910 and 2710 Weck Drive in Durham. The facility features 25 dock-high doors, 40-foot by 40-foot column spacing, an ESFR sprinkler system and a truck court with trailer parking. Trinity Capital plans to upgrade the facility with new T5 lighting, renovated office space and paved access off Alson Avenue, which will re-orient the property as a rear-loading facility. Bryan Everett of CBRE | Raleigh represented the seller, B F Properties II NC LLC, in the transaction. The joint venture has selected Trinity Partners to manage the property and Everett and Daniel Jackson, also with CBRE | Raleigh, to lease the project.
AUSTIN, TEXAS — Centric Commercial/CORFAC International has represented Daryl Flood Logistics in the lease of 104,146 square feet within Vista Industrial Park at 15833 Long Vista Drive in north Austin. Daryl Flood Logistics leased an entire building from Global Logistics Properties (GLP), which owns numerous buildings in the park. The 2.5 million-square-foot industrial park is located near I-35 and Grand Avenue Parkway. Russell Todd and Andrew Swanson of Centric Commercial/CORFAC International, along with Bob Berry of Avison Young, represented Daryl Flood Logistics in the long- term lease. Daryl Flood Logistics is headquartered in Coppell and maintains service and distribution facilities in Austin, Houston, El Paso, Lubbock and Grand Prairie. The company provides retail, e-commerce, home and technology-oriented logistics, shipping and fulfillment services.
GRAND PRAIRIE, TEXAS — JLL has brokered an 86,100-square-foot industrial lease for Shorr Packaging in Grand Prairie. The packaging solutions company’s new distribution center will be in Wildlife Commerce Park, Building II located at 2250 Lion Country Parkway. This is the company’s first location in Texas. JLL’s Craig Jones and Elizabeth Jones negotiated the lease on behalf of the tenant. Will Mundinger, John Bateman and Drew Tappan internally represented the landlord, Crow Holdings. Shorr Packaging is based in Aurora, Ill., and currently has 15 locations across the United States.
Outsiders looking at the Houston industrial real estate market may automatically presume doom and gloom for all commercial real estate segments due to the significant downturn in the oil and gas industry during 2015 and 2016. When it comes to the Houston industrial sector, we caution not to jump to that conclusion too fast! In 2016, the Houston regional economy has much more going for it that creates industrial real estate demand than simply oil and gas. Momentum from economic drivers not dependent upon the oil and gas industry are stabilizing industrial real estate. They are also helping counter the drag on the area’s economy that may be attributed to excess inventory and price deflation in oil and gas. Through the end of the year, we expect activity in industrial leasing to remain relatively stable and to offer rental rates that are comparable to early 2016. Our confidence in the stability of industrial real estate is partially based on our fundamental understanding about segmentation in the energy industry that directly impacts Houston’s industrial real estate utilization. Oil and gas is not a simple, homogenous industry with all segments moving in lock step. Clearly, the energy downturn has hit oil and …
ORANGE, CALIF. — BC 2 Environmental has leased 34,215 square feet of industrial manufacturing facilities in Orange. The leased space includes 3,600 of office space. The environmental and geotechnical drilling services provider signed two five-year leases for 1150 & 1250 W. Trenton Ave. The leases are valued at $2.1 million. Bryan Miller and Jim Snyder represented the landlord, Sukut Real Properties, in these transactions.
KISSIMMEE, FLA. — Skanska has topped out the Florida Advanced Manufacturing Research Center (FAMRC), a 109,000-square-foot advanced research and development laboratory facility in Kissimmee, an Orlando suburb in Osceola County. The total contract value for the design and construction of FAMRC is $71.4 million, according to Skanska. Situated on 20 acres near the intersection of U.S. 192 and Florida’s Turnpike, the project will provide semiconductor research and manufacturing of advanced products for the healthcare, transportation, agriculture and consumer products industries. The new center will partner with the University of Central Florida and the International Consortium for Advanced Manufacturing Research (ICAMR), a consortium for advanced sensors, phototonics and optics. The design team for FAMRC includes HOK and Abbie Gregg Inc., a global consultant to the advanced high technology industry sector. The Osceola County Board of Commissioners is helping lead the development of FAMRC, which Skanska plans to deliver in March 2017.
MARLBOROUGH, MASS. — Nordblom Co. has completed the disposition of two high-tech flex buildings located at 450 and 500 Donald Lynch Blvd. in Marlborough. Atlantic – Fulcrum Realty LLC, a joint venture between Atlantic Management Corp. and Fulcrum Real Estate Partners, purchased the properties for an undisclosed price. At the time of sale, the properties were 92 percent leased with only 9,521 square feet left available for lease at the 59,667-square-foot building at 450 Donald Lynch Blvd. The facility at 500 Donald Lynch Blvd. totals 62,224 square feet. Tenants at the two buildings include New England Cryogenics Center, SENKO Advanced Components and WaterSep BioSeparations Corp. The buildings are part of the 50-acre Solomon Pond Park, a 1 million-square-foot mixed-use development.
PITTSTON TOWNSHIP, PA. — Meridian Design Build has completed the construction of an automated package sorting and distribution center for developer Scannell Properties. Constructed on a design-build basis, the new facility is located on 59.1 acres in Pittston Township. The 304,317-square-foot building features 99 loading docks, 237 interior van loading positions, 593 auto parking stalls and 350 exterior trailer stalls. Additionally, the facility features 14,734 square feet of office space, a 2,940-square-foot gateway building and a 5,180-square-foot maintenance shop. Architectural services were provided by Precept Design and civil engineering services were provided by Kimley-Horn.