Industrial

World’s Third Busiest Airport Drives Growth, Economic Development in Texas

by Haisten Willis May 15, 2015

Texas has been a beacon of light during our country’s recent bout of recession. No doubt, this has to do with our business-friendly regulations and the physical space and capacity for business growth. Our economy is growing stronger every day. This past March, the United States Bureau of Labor and Statistics (BLS) released the latest employment numbers, and Regional Commissioner Stanley W. Suchman pointed out that the Dallas/Fort Worth (DFW) area ranked first in the rate of job growth and third in the number of jobs added among the country’s largest metropolitan areas. DFW’s largest growth last year was in the professional and business services sector, as 33,000 jobs were added. Other growth sectors included trade, transportation and utilities (30,500 jobs), education and health services (19,200 jobs), and leisure and hospitality (17,300 jobs). It is hard to open the business section of the morning paper anymore without seeing news of a company relocating to the DFW Metroplex, bringing along the promise of thousands of jobs. As a result, commercial real estate is booming in north Texas. Dallas/Fort Worth International Airport is an important force behind Texas’ growth and a contributor to one of the nation’s most prosperous and vital economies. …

May 15, 2015

California Industrial Western

Industrial Property Trust Buys Greenville Business Center in Livermore

by Nellie Day May 14, 2015

LIVERMORE, CALIF. – Industrial Property Trust has acquired Greenville Business Center, a 266,825-square-foot warehouse/distribution building in Livermore for an undisclosed sum. The property is located at 7501-7551 Las Positas Road. The center is fully leased to Performance Food Group (Vistar), Transwestern Polymers Inc. and Topp Shelf (dba UNITS). Michael Lloyd and Greig Lagomarsino of Colliers International represented both the buyer and seller, Alere Property Group, in this transaction.

May 14, 2015

Industrial Texas

SurePoint Self Storage to Open New Location in Houston

by Haisten Willis May 13, 2015

HOUSTON — SurePoint Self Storage will open a third property in the Houston market. This summer the SurePoint team will begin construction on a Class A, three-story building that will include 123,000 square feet. The two-acre property is located on Barker Cypress Road, south of US 290. In addition, the three San Antonio-based developers are poised to begin construction in the next 60 days on two Class A multi-story facilities in the Houston market, one is a three-story, 110,000-square-foot facility on Spring Cypress Road just east of Grant Road in Cypress, and the other is a four-story building in Richmond near Highway 59 and the Grand Parkway. SurePoint Self Storage has just completed two new projects in San Antonio and a third is under construction.

May 13, 2015

Indiana Industrial Midwest

HSA Commercial Arranges Industrial Lease Renewal for Banning Engineering in Indiana

by Danielle Everson May 13, 2015

PLAINFIELD, IND. — HSA Commercial Real Estate has arranged a long-term lease renewal for Banning Engineering within the Gateway Industrial Business Park in Plainfield. The property is located at 853 Columbia Road. Banning, a civil engineering and surveying firm, occupies 16,000 square feet in the first distribution facility to be constructed at the 13-acre business park and was the original tenant at the park in 2004. HSA Commercial owns and manages the park, which has since expanded to include a 121,000-square-foot multi-tenant second phase that was built in 2006, a 34,880-square-foot facility occupied by the Federal Aviation Administration, and a 220,000-square-foot speculative warehouse that HSA built in partnership with Great Point Investors LLC in 2014.

May 13, 2015

Florida Industrial Southeast

AEW Capital-Led JV to Develop Two Distribution Centers in Lakeland

by John Nelson May 13, 2015

LAKELAND, FLA. — AEW Capital Management LP has purchased two land parcels totaling 46.6 acres at Lakeland Logistics Center, an existing business park in Lakeland. A joint venture between AEW, Massachusetts Pension Reserves Investment Management (MassPRIM) and Ridge Development Co. plans to develop two Class A distribution centers on the land parcels. The facilities will each span 245,000 square feet and feature 32-foot clear heights, ESFR sprinklers, cross-dock configurations, 185-foot private truck courts, 45 trailer parking spaces and a 200-foot shared truck court. AEW, MassPRIM and Ridge Development plan to develop the facilities in two phases with construction slated to begin in June. Upon completion, Julia Silva Rettig, Jeff Lamm, Jared Bonshire and David Perez of Cushman & Wakefield will provide leasing services for the two distribution centers.

May 13, 2015

Mayfield-Dallas-Houston-Industrial-Portfolio

Industrial Texas

HFF Arranges Sale of Industrial Portfolio in Dallas, Houston

by Haisten Willis May 12, 2015

DALLAS, HOUSTON — HFF has arranged the sale of a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in Metro Dallas and Houston. HFF marketed the portfolio on behalf of the seller, a partnership between Mayfield Properties LP and AB Real Estate Group. A private fund advised by Crow Holdings Capital – Real Estate purchased the assets for an undisclosed amount. The eight Dallas-Fort Worth properties are located in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets. The 11 buildings are 98 percent leased and total 1 million square feet. The eight Houston facilities are located in the Northwest and Southwest industrial markets and total 16 buildings with 1.3 million square feet. That portfolio is 93.6-percent leased. Randy Baird, Rusty Tamlyn, Jud Clements, Trent Agnew, Robby Rieke, Stephen Bailey and John Rogers led the HFF investment sales team representing the seller.

May 12, 2015

Healthcare Industrial New York Northeast

Norvin Healthcare Properties Acquires 45,000 SF Property in Long Island City for $66M

by Amy Works May 11, 2015

NEW YORK CITY — An affiliate of New York City-based Norvin Healthcare Properties has acquired a two-story, 45,000-square-foot property, located at 21-21 44th Dr. in Long Island City, for $66 million. Simultaneously with the acquisition, Norvin entered into a 31-year triple-net lease with NYU Langone Medical Center. NYU Langone Medical Center plans to redevelop the industrial property into a multi-specialty ambulatory care facility. The name of the seller was not disclosed.

May 11, 2015

California Industrial Western

Custom Goods Renews Lease for Industrial Space in Rancho Cucamonga

by Nellie Day May 11, 2015

RANCHO CUCAMONGA, CALIF. – Custom Goods has renewed its lease for 240,249 square feet of industrial space in Rancho Cucamonga. The warehouse and distribution center is located at 12200 Arrow Route. The third-party logistics firm was represented by JLL’s Louis Tomaselli and Jordan Quinn. The landlord was not named.

May 11, 2015

California Industrial Western

Power Edge Solutions Buys Anaheim Industrial Facility for $2.1M

by Nellie Day May 11, 2015

ANAHEIM, CALIF. – Power Edge Solutions has purchased a 12,000-square-foot industrial building in Anaheim for $2.1 million. The building is located at 1910 East Via Burton. This is the highest price paid per square foot within this building size range since 2008, according to CBRE, which represented the seller, the Huber Family Trust. The trust was represented by the firm’s Steve Young and Tom Dorman. Gibson Company also provided advisory services to the trust.

May 11, 2015

Indiana Industrial Midwest

Monmouth Acquires Industrial Property in Greenwood, Ind. for $37.4M

by Danielle Everson May 8, 2015

GREENWOOD, IND. — Monmouth Real Estate Investment Corp. has acquired a new 671,354-square-foot industrial building in Greenwood for $37.4 million from an undisclosed seller. The property is situated on a little more than 43 acres located at 482 Chaney Ave. and is net leased for 10.25 years to beauty retailer ULTA Inc., a subsidiary of Ulta Salon, Cosmetics & Fragrance Inc. The new Omni-channel fulfillment center will serve both business-to-business and direct-to-consumer e-commerce sales.

May 8, 2015

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