Industrial

Atlanta’s Industrial Market Continues Historic Pace of Sales, Leasing Activity

by John Nelson January 11, 2016

Atlanta’s industrial market is hotter than the proverbial pistol. Second-quarter activity set a single-quarter record with more than 18.2 million square feet leased or sold. When added to the activity from the previous three quarters, Atlanta strung together more than 59.6 million square feet of completed transactions. This represents the second highest activity level ever recorded for a four-quarter period. There was more than 6.3 million square feet of positive net absorption. Combined with the previous three quarters, Atlanta shows a total of more than 19.7 million square feet of positive net absorption for the last four quarters. For the second quarter, the availability rate dropped one-tenth of a percent to 14 percent — the lowest it has been since the fourth quarter of 2000. And just four to five years ago, the overall availability rate was above 20 percent. Development and construction are absolutely booming. With more than 7 million square feet of new construction recorded during the second quarter, the market also set a record for new construction in a single quarter. When looking at the four-quarter total, we see more than 18.8 million square feet of new construction — a level not seen since 1998. Of that …

January 11, 2016

Mesquite-Texas-951-Town-East-Boulevard-Skyline-Bus-Park-Building-one

Industrial Texas

Binswanger Negotiates Industrial Lease in Metro Dallas

by Haisten Willis January 8, 2016

MESQUITE, TEXAS —Binswanger has negotiated an industrial lease of 300,283 square feet at Skyline Business Park Building 1, located at 951 Town E. Blvd. in Mesquite. The lease was arranged on behalf of the tenant, We Pack Logistics. We Pack Logistics is a national supply chain management firm providing clients with contract packaging and distribution services. The company is launching operations in the facility this month for a new client contract in the food and beverage industry. Skyline Business Park Building 1 is a rail-served, 457,076-square-foot warehouse/distribution facility located on 27.7 acres. The property is located at Chase Road and Skyline Drive, adjacent to the Union Pacific Railroad Intermodal yard with access to I-635 and US-80. Holmes Davis of Binswanger’s Dallas office handled the transaction for the tenant. John Hendricks with CBRE represented the landlord, LIT Industrial.

January 8, 2016

Arizona Industrial Western

REIT Industrial Property Trust Buys Industrial Portfolio in Phoenix for $38M

by Nellie Day January 8, 2016

PHOENIX — REIT Industrial Property Trust has purchased a five-building industrial portfolio based in northwest Phoenix for $38 million. The transaction comprises the Lincoln Deer Valley and Lincoln Pinnacle Park assets. The Lincoln Deer Valley project is located at 21420 and 21430 N. 15th Lane in Phoenix. Lincoln Pinnacle Park is located at 23040 N. 11th Ave., also in Phoenix. They total 340,646 square feet. The two parks were constructed between 2005 and 2006. They are 97 percent leased with staggered triple-net lease expirations. Notable tenants include Petsmart, Alstom, Reynaer’s, US Air Conditioning Distribution and California Closets. The seller was Lincoln Property Company (LPC). The company will continue to serve as property manager for both assets. CBRE’s Darla Longo, Barbara Emmons, Dan Calihan and Pat Feeney represented LPC in this transaction.

January 8, 2016

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Strong Economic Growth Continues in Waco

by Haisten Willis January 8, 2016

Greater Waco’s economy is on a roll. Positioned halfway between Dallas and Austin, Waco is a prime destination for companies and individuals wanting access to large metro areas without the hassles of traffic, expensive real estate and labor shortages. With newly completed facilities such as Baylor University’s McLane Stadium and major downtown redevelopment projects, Waco is hitting the radar for new development opportunities. October 2015 marked 43 months of positive economic growth for the area, with 4.8 percent growth in the third quarter of 2015 alone. Major organizations, including Baylor, continue to aid in elevating the status of Waco as a dominant player in the Central Texas region. Just as Texas has seen significant growth since 2008, so too has Waco. One major contributor to Waco’s economic success has been employment growth. Employers are creating new jobs in the area, with 1,600 more positions now in place, 113,700 compared to 112,100 in October 2014. Construction, manufacturing, healthcare, hospitality and logistics remain strong drivers for the economy. The result is a community with a 4.8 percent unemployment rate and residents with more disposable income. In fact, real median household income for the Waco MSA grew 5.8 percent, to $43,184, between the …

January 8, 2016

Industrial Texas

Lee & Associates Negotiates 16,800 SF Industrial Sale in Metro Dallas

by Haisten Willis January 7, 2016

GARLAND, TEXAS — Lee & Associates has negotiated a sales transaction for a 16,800-square-foot industrial building located at 520 Shepherd Drive in Garland. Brett Lewis and George Tanghongs of Lee & Associates represented the seller, KeyTech Inc., in the transaction. Michelle Hudson of Hudson Peters represented the buyer, MSMK Partners.

January 7, 2016

Industrial New Hampshire Northeast Office

Brady Sullivan Properties Acquires Two Multi-Building Portfolios Totaling 775,000 SF in New Hampshire

by Amy Works January 7, 2016

NASHUA, HUDSON, CONCORD AND MANCHESTER, N.H. — Brady Sullivan Properties has acquired two multi-building portfolios totaling 775,000 square feet in New Hampshire. In the first transaction, the company purchased a five-building, 500,000-square-foot office and industrial portfolio in Nashua and Hudson from Chicago-based RREEF Property Trust for $17.5 million. The portfolio includes Birch Pond Office Park, a 73,000-square-foot office building; 22 Cotton Road, a 154,000-square-foot office and R&D facility; 472 Amherst St., a 98,000-square-foot flex building; and 15 Trafalgar Square, a 34,000-square-foot office building, all of which are located in Nashua. The portfolio also includes 5 Wentworth Drive, a 140,000-square-foot medical device facility occupied by Atrium Medical Corp., in Hudson. Tom Farrelly, Denis Dancoes, Sue Ann Johnson and Matt Pullen of Cushman & Wakefield represented the undisclosed seller in the transaction. In the second deal, Brady Sullivan acquired a five-building office portfolio totaling 275,000 square feet for $11.5 million. The portfolio includes One and Two Capital Plaza and Eagle Square in Concord; 146 Main Street in Nashua; and 2 Wall Street in Manchester. Farrelly, Dancoes, Johnson and Pullen of Cushman & Wakefield brokered the transaction. The name of the seller was not released.

January 7, 2016

Industrial Loans New Jersey Northeast

G.S. Wilcox & Co. Secures $11M Loan for 255,253 SF Warehouse Facility in New Jersey

by Amy Works January 7, 2016

WAYNE, N.J. — Morristown, N.J.-based G.S. Wilcox & Co. has arranged $11 million in financing for an undisclosed repeat borrower. The loan is secured by a 255,253-square-foot warehouse building located in Wayne. The five-year loan has a 30-year amortization schedule and was provided by Thrivent Financial. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. originated the loan for the borrower.

January 7, 2016

Illinois Industrial Midwest

Conor Commercial Real Estate Breaks Ground on 70-Acre Industrial Park Outside of Chicago

by Christina Cannon January 7, 2016

BOLINGBROOK, ILL. — Conor Commercial Real Estate, a member of The McShane Cos., has broken ground on a 70-acre industrial business park in Bolingbrook, approximately 30 miles southwest of Chicago. The Fountain Square Commerce Center will consist of four speculative buildings that range from 109,088 square feet to 320,532 square feet and a 12-acre build-to-suit site. The speculative buildings are divisible by 30,000 square feet and will feature ample car and truck parking, substantial dock door positions, 32-foot clear heights, ESFR sprinkler systems and office space. The Class A industrial business park, slated for completion this summer, will be situated along the I-55 corridor. Brian Carroll and Jim Cummings of Newmark Grubb Knight Frank (NGKF) have been assigned to lease up the property.

January 7, 2016

Illinois Industrial Midwest

Sitex Group Acquires 69,000 SF Industrial Facility in Chicago Suburb

by Christina Cannon January 7, 2016

GLENDALE HEIGHTS, ILL. — Sitex Group has acquired a 69,000-square-foot warehouse and distribution facility in Glendale Heights, approximately 30 miles west of Chicago. A private ownership group sold the asset located at 192-196 Exchange Blvd. for an undisclosed price. The facility features 24-foot clear heights, 2,000 amps of power and parking for 140 cars. Sub-Zero and Wolf previously occupied the entire building, but currently occupies 16,000 square feet, leaving the rest of the space vacant. Sitex plans to make improvements including remodeling the office space, installing T-5 lighting, painting the building’s exterior and upgrading the HVAC system.

January 7, 2016

Industrial Texas

Syndication Partnership Purchases Plano Parkway Business Center

by Haisten Willis January 6, 2016

PLANO, TEXAS — Plano Parkway Business Center LLC, a syndication partnership set up by managing partners and promoters Steve Fithian, a Dallas-based commercial broker, and Thomas Wilson, founder of Wilson Investment Properties, has purchased Plano Parkway Business Center, a 113,299-square-foot office complex located at 2701 W. Plano Parkway in Plano. Steve Simon and Steve Rowland of Transwestern represented the seller, Plano Plaza LLC, in the transaction. Fithian represented the buyer. The office building was built in 1998. SVN | Trinity Advisors will manage the property, which is located on 8.8 acres just north of the George Bush Turnpike Corridor between the Dallas North Tollway (SH-190) and Central Expressway (US-75). Tenants include Republic Title of Texas, Wizetrade, Patient-Physician Network and Teradyne.

January 6, 2016

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