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Industrial

Normandy-Logistics-Center-Piscataway-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

Rockefeller Group to Develop 241,200 SF Distribution Center in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — New York City-based Rockefeller Group will develop Normandy Logistics Center, a 241,200-square-foot distribution center in the Northern New Jersey community of Piscataway. The site at 10 Normandy Drive spans 36 acres, and the facility will feature a clear height of 40 feet, 162 car parking spaces, 60 trailer parking spaces and 41 single-load loading docks. Mancini Duffy is the project architect, and Alston Construction is the general contractor. Michael Markey and Jonathan Tesser of Colliers brokered the sale of the land and have also been retained as leasing agents. Construction will begin before the end of the year and is expected to be complete in the fourth quarter of 2025.

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936-Harrison-Ave.-Kearny-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of 211,287 SF Warehouse in Kearny, New Jersey

by Taylor Williams

KEARNY, N.J. — Cushman & Wakefield has brokered the sale of a 211,287-square-foot warehouse in the Northern New Jersey community of Kearny. The site at 936 Harrison Ave. spans 17 acres, and the building features a clear height of 38 feet and a two-acre fully paved drop lot for fleet and trailer parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the sellers, Russo Development and River Development, in the transaction and procured the buyer, Seagis Property Group. The sales price was not disclosed.

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IndustrialMarket ReportsWashingtonWesternWestern Market Reports

Dynamics Shift in Seattle’s Industrial Real Estate Market

by John Nelson

— By R.J. Vara, first vice president of investments, Marcus & Millichap’s The Vara Group — The Seattle industrial market is undergoing a transitional phase marked by rising vacancies, fluctuating demand and evolving investment dynamics. There was a robust surge from 2020 to 2022, which saw nearly 19 million square feet of industrial space absorbed and more than $8.4 billion in transaction volume. However, the market experienced a reversal in 2023, with roughly 2 million square feet of previously absorbed space becoming available. This shift, driven by decreased container traffic at local ports, rising interest rates and elevated inflation, has continued into 2024, with speculative construction projects contributing to elevated vacancy rates. As of mid-year, Seattle’s industrial vacancy rate has increased by about 2 percent year over year, reaching 7.7 percent. This has surpassed the national average of 6.6 percent. The rise in vacancies is primarily attributed to the completion of new distribution facilities, with spaces of more than 100,000 square feet now available in double digits. Delivery numbers are expected to fall to their lowest level since 2017, but investors are beginning to explore opportunities in the southern regions. Regarding investment activity, Seattle’s industrial sales volume has notably increased …

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AcquisitionsGeorgiaIndustrialSoutheast

Davis Purchases 235,108 SF Research-and-Development Portfolio in Atlanta from Jamestown

by Hayden Spiess

ATLANTA — The Davis Cos. has purchased a portfolio of research-and-development (R&D) buildings totaling 235,108 square feet in Atlanta’s Upper Westside neighborhood. Jamestown was the seller. American defense technology company Anduril Industries occupies the majority of the portfolio, which includes buildings located at 1401 and 1435 Hills Place NW and 1357 Collier Road NW. Recently redeveloped, the properties feature 21-foot clear heights, floor-to-ceiling windows and power loads sufficient to support a wide range of R&D uses. Jamestown previously acquired the buildings as mixed-use creative office and retail properties before redeveloping the portfolio. 

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78-TW-Alexander-Drive_Durham-N.C
AcquisitionsIndustrialNorth CarolinaSoutheast

CBRE Arranges $33M Sale of New RTP Life Sciences Facility in Durham

by Hayden Spiess

DURHAM, N.C. — CBRE has arranged the $33 million sale of a biomanufacturing facility situated within Research Triangle Park (RTP) in Durham. Silver Spring, Md.-based United Therapeutics Corp. purchased the property, which totals 95,500 square feet, with plans to occupy it. Located at 78 TW Alexander Drive, the facility was delivered in 2023 and features 36-foot clear heights, seven loading docks and the option for expansion up to 190,500 square feet. Ann-Stewart Patterson and John Hogan of CBRE represented the seller, Oxford Properties Group, in the transaction. RTP is the largest biomedical research campus in the country, spanning 7,000 acres and hosting more than 300 companies including Biogen, Cisco Systems, Dell, IBM, Pfizer and Wolfspeed, among others. 

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444-Old-Wire-Rd_Springdale-Ark
AcquisitionsArkansasIndustrialSoutheast

Stoic Equity Partners Acquires 94,589 SF Industrial Facility in Springdale, Arkansas

by Hayden Spiess

SPRINGDALE, ARK. — Stoic Equity Partners has acquired a 94,589-square-foot industrial complex located at 444 Old Wire Road in Springdale. The multi-tenant facility comprises 20 suites across nine buildings. This marks the fourth asset in the state for the buyer, which owns over 1.1 million square feet of commercial space across six states in the Southeast. “We began targeting the Northwest Arkansas market earlier this year, so we are excited to get this property closed,” says Grant Reaves, cofounder and managing director of Stoic Equity Partners.  The seller and sales price were not disclosed.

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IndustrialLeasing ActivityOfficeTexas

Bradford Negotiates 26,828 SF Lease at Industrial Flex Building in Plano

by Taylor Williams

PLANO, TEXAS — Bradford Commercial Real Estate Services has negotiated a seven-year, 26,828-square-foot lease at Plano Office Commons, an industrial flex property located northeast of Dallas. The tenant, Aither Systems LLC, a provider of renewable energy solutions, is relocating from nearby Allen to an endcap space at 605 Shiloh Road. Brian Pafford and Richmond Collinsworth of Bradford represented the landlord, an entity doing business as GH Plano Tech Center Inc., in the lease negotiations.

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AcquisitionsIndustrialLee & AssociatesNew JerseyNortheast

Lee & Associates Brokers $16.5M Sale of Northern New Jersey Warehouse

by Taylor Williams

GARFIELD, N.J. — Lee & Associates has brokered the $16.5 million sale of a 73,000-square-foot warehouse in the Northern New Jersey community of Garfield. According to LoopNet Inc., the facility at 325 Midland Ave. was originally built on 2.7 acres in 1972 and features a clear height of 21 feet. Troy Wisse, Michael Schaible, Justin Smith, Chris Vassilian and Grant La Bounty of Lee & Associates represented the buyer, Deko International, in the transaction. Kevin Dudley and Kate Granahan of CBRE represented the seller, Snowball Developments. 

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16930-Valley-View-Ave-La-Mirada-CA
AcquisitionsCaliforniaIndustrialWestern

LD Valley View Holdings Acquires Industrial Asset in La Mirada, California for $32.4M

by Amy Works

LA MIRADA, CALIF. — LD Valley View Holdings has purchased an industrial asset in the Mid-Counties submarket of Los Angeles from an undisclosed seller for $32.4 million. Totaling 124,480 square feet, the asset has entitlements for a 143,627-square-foot, Class A industrial building. The property is situated on 7.2 acres at 16930 Valley View Ave. Tony Phu of Colliers represented the buyer, while Michael Kendall, Gian Bruno, Kenny Patricia and Kylie Jones of Colliers represented the seller in the deal. Chris Sheehan, Mike Foley, Jeff Smart, Liz Capati and Senna De La Cruz of Colliers provided local market advisory services.

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IndustrialLeasing ActivityMidwestMissouri

ANSCO Signs 43,000 SF Industrial Lease in St. Louis

by Kristin Harlow

ST. LOUIS — ANSCO & Associates LLC has signed a 43,000-square-foot industrial lease at 8801 Seeger Industrial Drive in St. Louis. The national telecommunications company offers comprehensive telecom services from system conceptualization to turnkey construction. Bruce Harper of Trinity Partners represented the tenant. The landlord was undisclosed.

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