HOUSTON — NAI Partners has arranged the sale of a 12.3-acre rail yard in Houston. Clay Pritchett and John Ferruzzo of NAI Partners represented landlord, W&P Development Corp. in the transaction. Swift Transportation was the tenant. The rail yard is located in the San Jacinto River & Rail Park, 18511 Beaumont Highway, in Houston.
BENSENVILLE, ILL. — Darwin Realty & Development Corp. has arranged the lease of a 1,500-square-foot industrial space in Bensenville. Dan Fanelli of Darwin Realty and Development Corp. represented both the tenant and landlord in lease to ZM Gear & Machine at 1134 Industrial Drive. The landlord is FBG Corp. ZM Gear is currently occupying an adjacent unit and is expanding its business to the additional space. The facility is just off Route 83 south of Thorndale Avenue and west of York Road in DuPage County. ZM Gear is a family-owned company with more than 20 years of experience in gear manufacturing including parts from shafts, covers and housings.
ELGIN, ILL. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of a 110,343-square-foot industrial building in Elgin. The property is located at 2545 Northwest Pkwy. Adam Marshall of NGKF and Joe Bronson of NAI Hiffman represented the seller, property owner Zilber Property Group. Marshall also represented the buyer, Bucher Hydraulics, an international provider of hydraulic drive and control technologies for mobile and industrial hydraulic applications. The property is within the Northwest Corporate Park and is adjacent to several retail, restaurant, hotel and child care facilities. Built in 1999, the building features high-end, two-story offices that are 23,200 square feet. Additional features include 24-foot ceiling heights, seven docks, eight drive-in doors as well as 2,400 amps of power.
CHICAGO — NelsonHill has brokered the $2.8 million sale of 1120 W. Exchange Avenue in Chicago’s Stockyard Industrial Park. Florock, an industrial flooring systems firm, purchased the property. The 63-year-old, global firm plans to consolidate its other locations into one site. The 87,982-square-foot property sits on nearly three acres and includes more than 40 parking spaces, 17-foot to 22-foot ceiling heights and a 4,000-square-foot office. The property also features two interior docks and two overhead doors. Michael Nelson and Mark Nelson of NelsonHill represented the seller, The Missner Group. Adam Tarantur, Corey Chase and Kyle McKechnie of Podolsky|Circle CORFAC International represented the buyer.
Memphis has acquired many nicknames since its establishment in 1819: Blues City, Birthplace of Rock ‘N Roll, and Bluff City just to name a few. However, one name that has managed to work its way to the top of the list in recent years is America’s Distribution Center. Metropolitan Memphis, located in the southeast corner of Tennessee, northwest Mississippi and eastern Arkansas, contains approximately 4,598 square miles and is inhabited by approximately 1.3 million people. As one of the few MSAs to include three states, the Memphis region plays an integral role as the cornerstone of the Mid-South area. With a central location and rich transportation infrastructure, Memphis transformed into the regional and national distribution and logistics hub. Memphis’ transportation infrastructure is comprised of the four Rs: runway, rail, river, and road. Memphis International Airport was named the largest air-cargo airport in the United States for 18 consecutive years. It is now tied for first in the world with Hong Kong International Airport. Memphis is one of only three cities in the US that has five of the seven Class I railroads: Union Pacific/Southern Pacific, Burlington Northern Santa Fe (BNSF), CSX Corp., Norfolk Southern and Canadian National Railroad (CN). The …
INDIANAPOLIS — McNamara Florist has acquired a 176,000-square-foot industrial property in Indianapolis for an undisclosed sales price. The property is located on 7.3 acres at 1853 Ludlow Ave. The site of the florist’s new corporate headquarters will undergo extensive renovations. Occupancy is expected in the first half of 2016. The company headquarters currently occupies 58,000 square feet of leased space in Fishers, Ind. McNamara currently employs 120 people and the company will be relocating 70 of those positions to this facility. Bill French and Grant Lindley of DTZ represented McNamara in the property transaction. First Internet Bank provided financing for the acquisition and construction and Premier Capital Corp. provided a SBA 504 loan. April Hensley of Leech Hensley Architects will be the principal architect and Kort Builders will serve as the general contractor. McNamara also received a LISC façade improvement grant, which will be used to improve the exterior appearance of the building.
LOUISVILLE, KY. — Coca-Cola Bottling Co. Consolidated has opened a new 305,000-square-foot sales and distribution center on Global Drive in southwest Louisville. The company invested roughly $12 million to renovate a vacant warehouse on a 25-acre site in Louisville for the new plant. The project also involved retrofitting office space and adding more than 100,000 square feet of new construction. The new facility will handle sales and distribution of Coca-Cola products in a 21-county area stretching from Owen County to Hardin County in Kentucky and Jefferson County to Harrison County in Indiana. The company currently has 350 employees working in the Louisville franchise territory. In addition, a new ‘make ready center’, which will handle deployment and refurbishing of vending and other sales equipment, is still under construction and will open later this spring. In addition to the Louisville franchise, Coca-Cola Consolidated also acquired the franchise in Evansville, Ind. The company has signed definitive purchase agreements for additional Kentucky franchises, including Lexington, Pikeville and Paducah, and hopes to conclude those transactions later in 2015. Charlotte-based Coca-Cola Consolidated is the nation’s largest independent bottler of Coca-Cola with franchise territories in 11 states.
MUSKEGON, MICH. — Signature Associates, an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the lease of 204,012 square feet of industrial space in Muskegon. The property is located at 1450 E. Laketon Ave. Bryan Bench of Cushman & Wakefield | Signature Associates represented the tenant, Intracity Dispatch Inc.
PLAINFIELD, IND. — Meritex has acquired the MetroAir Building #3, a 248,358-square-foot, Class A industrial facility located at 758 Columbia Road in Plainfield. The property, part of the MetroAir Business Park, is fully occupied and features an ESFR sprinkler system and a 28-foot ceiling height. The property also has access to I-70, I-74 and I-65. This acquisition expands Meritex’s Indianapolis portfolio to more than 1 million square feet. Meritex will directly manage the MetroAir property along with its other holdings in Indianapolis.
YORK, PA. — Ridgeline Property Group has partnered with Cabot Properties to develop a 423,300-square-foot speculative industrial building in York. Situated on 51 acres on Second Amendment Drive, Susquehanna Logistics Center will offer tenants immediate access to Interstate 83. The facility will feature 32-foot clear heights, 87 dock doors, 52-foot by 54-foot column spacing, ESFR fire sprinklers and parking for 179 cars and 146 trailers. Construction is slated to begin in late March with completion scheduled for December. Patrick McBride and Gerry Blinebury of Cushman & Wakefield have been retained to market the property.