Industrial

Cushman & Wakefield: U.S. Industrial Vacancy Drops to 14-Year Low

by John Nelson January 27, 2015

CHICAGO — The U.S. industrial vacancy rate dropped to its lowest level in nearly 14 years during the last months of 2014, according to Cushman & Wakefield. The overall industrial vacancy rate ended 2014 at 6.8 percent — the lowest level since the first quarter of 2001. Vacancies dropped 70 basis points year-over-year and 400 basis points from the recent peak of 10.8 percent in early 2010, according to the commercial real estate services firm. Today, four markets boast vacancy rates below 4 percent: the San Francisco Peninsula (3 percent); Greater Los Angeles (3.4 percent); Lakeland, Fla (3.7 percent); and Orange County, Calif. (3.7 percent). To view the rest of the top 10 with lowest fourth-quarter vacancy rates, view the chart above. “The industrial real estate market expansion has been driven, in part, by the ongoing evolution of demand-driven and information-enabled supply chains,” says John Morris, leader of Cushman & Wakefield’s Industrial Services for the Americas. “Responding to dynamic changes to how people shop, where they work, and how and where they live, new models and new requirements continue to emerge. An improving economy, the expansion of e-commerce and the growth of domestic manufacturing further fueled the rapid advancement we …

January 27, 2015

Illinois Industrial Midwest

Entre Arranges 30,000 SF Lease in Buffalo Grove, Ill.

by Danielle Everson January 26, 2015

BUFFALO GROVE, ILL. — Entre Commercial Realty has arranged the lease of a 30,000-square-foot industrial building in Buffalo Grove, approximately 33 miles northwest of Chicago. Illinois Masonry Corp. will occupy space located at 1051 Commerce Court. The masonry company is relocating from its current Lake Zurich location to the Northern Builders Buffalo Grove property. The freestanding building features 3,765 square feet of office, a 26.5-foot clear ceiling height, three exterior docks, one drive-in door, and a fenced and secured truck parking lot. In addition to providing a more optimal location for its employees, the site is closer to the interstates. David Bercu and Brendan Green of Colliers International represented the building owner, Northern Builders. Brian Bocci of the firm represented Illinois Masonry Corp.

January 26, 2015

Industrial Texas

ML Realty Partners Arranges Three Leases in Metro Dallas

by Haisten Willis January 26, 2015

CARROLLTON, TEXAS — ML Realty Partners LLC has arranged three leases totaling 96,010 square feet at Crosby Trade Center. The two-building Carrollton development was developed in partnership with Frontier Equity. The leases bring the 295,774-square-foot, multi-tenant development to 32 percent leased. J. Scott More and Jim Brice of Holt Lunsford Commercial represented ML Realty Partners in all transactions. Business Solutions Transport leased the first 31,385 square feet of industrial space in the 110,920-square-foot north end building at 1215 W. Crosby Road. Tyson Erwin of NAI Hiffman represented BST in the transaction. Renewal by Anderson will join BST at 1215 W. Crosby Road with a new lease for 32,179 square feet. Searcy Ferguson of CBRE represented Renewal by Anderson in the transaction. Gunder Associates signed a lease for 32,446 square feet in the 184,854-square-foot south end building. Curt Linn of Avison Young represented Gunder Associates in the transaction.

January 26, 2015

Industrial Texas

Bradford Arranges Sale of 102,732-SF Net-Leased Property in Metro Dallas

by Haisten Willis January 26, 2015

GRAND PRAIRIE, TEXAS – A north Texas-based partnership has sold a 102,732-square-foot, net-leased property in the Upper Great Southwest Industrial District to Conti Warehouses LLC of Fort Worth. The property at 1470 Ave. T in Grand Prairie was developed in 1994 as a build-to-suit for Genesee Stamping & Fabricating Inc. Michael Spain and Jim Ferris of Dallas-based Bradford Commercial Real Estate represented the seller and original owner, NTA Holdings Ltd. Ryan Wood of Conti Warehouses represented the buyer.

January 26, 2015

Illinois Industrial Midwest

Darwin Arranges Sale of 437,910 SF Industrial Building in Bedford Park, Ill.

by Danielle Everson January 26, 2015

BEDFORD PARK, ILL. — Darwin Realty & Development Corp. has arranged the sale of a 437,910-square-foot industrial facility in Bedford Park, a suburb of Chicago. The property is located at 7035 W. 65th St. The buyer, Professional Freezing Services, is relocating and expanding from its current location on 44th St. in Chicago. The firm plans to demolish the existing facility in Bedford Park and build a new, state-of-the-art, 150,000-square-foot freezer/cooler facility on the site, which is in close proximity to I-55 at Harlem and 1st avenues. Adam Haefner and George Cibula of Darwin represented both the buyer and the private seller.

January 26, 2015

California Industrial Western

Rexford Industrial Buys Imperial Highway Industrial Portfolio for $12.2M

by Nellie Day January 26, 2015

LOS ANGELES – Rexford Industrial has acquired a 101,000-square-foot industrial property in the Los Angeles submarket of Santa Fe Springs for $12.2 million. The single-tenant building is located at 12907 Imperial Highway. It is fully leased through 2019 via an absolute net-lease arrangement. This is the third asset of a three-property portfolio Rexford has recently acquired. The initial two assets closed this past December.

January 26, 2015

California Industrial Western

Oceanside Commerce Center Sells for $7.5M

by Nellie Day January 26, 2015

SAN DIEGO – Oceanside Commerce Center, a 70,000-square-foot industrial center in the San Diego submarket of Oceanside, has sold to SR Commercial for $7.5 million. The center is located at 4747, 4749 and 4751 Oceanside Blvd., and 1818 and 1820 Peacock Blvd. The property was 85 percent occupied at the time of purchase. It was built in 1987. SR Commercial plans to immediately enhance the interiors and exterior. The property was acquired as part of a 1031 exchange. It will be held as a long-term cash-flow asset for SR Commercial. The company was represented by Michael Hartel and Joe Winkelmann of Voit Real Estate Services’ Irvine office. The seller, Bob Voit, was represented by Randy LaChance of Voit Real Estate Services’ San Diego office.

January 26, 2015

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Triangle’s Buoyant Economy Gives Confidence to Industrial Real Estate Investors, Developers

by John Nelson January 26, 2015

2014 was an exceptional year for sales and leasing activity for the Raleigh-Durham industrial market. Velocity in investment sales boomed in 2014 — the strongest year since 2006, and second strongest in history. Developers are actively seeking land to build new parks as demand for Class A industrial space outweighs supply and rental rates begin to rise. Although, the Raleigh-Durham MSA is a smaller industrial market in the region, it’s been ranked No. 1 by Forbes as the Best Place for Business and No. 2 for the Fastest Growing Large U.S. City from 2010-2030 by the United Nations Population Division. Companies continue to announce corporate relocations and expansions and unemployment is lower than the national average at 4.5 percent in October. EDM America relocated its $150 million headquarters operation to Raleigh from Pennsylvania. Argos Therapeutics announced an expansion project in Durham — a $57 million bio-manufacturing plant. The area has also seen an influx of third-party logistics companies, moving companies and suppliers for the home building industry opening new locations and consolidating to larger blocks of space. As user demand continues, there is a strong desire by investors to become a part of our market or expand their current footprint. …

January 26, 2015

Industrial Midwest Missouri

Sansone Group Arranges 29,231 SF Industrial Lease for JW Logistics in Maryland Heights, Mo.

by Danielle Everson January 23, 2015

MARYLAND HEIGHTS, MO. — The Sansone Group/CORFAC International has arranged the lease of a 29,231-square-foot industrial space for JW Logistics LLC in Maryland Heights, a suburb of St. Louis. The property is located at 11401-11445 Moog Dr. The industrial space is near I-270 and Page Avenue. JW Logistics will use the warehouse space as a packaging and staging area to serve one of its main corporate clients. Vince Bajardi of The Sansone Group/CORFAC International represented JW Logistics in the lease.

January 23, 2015

Industrial Office Texas

Ascension Properties Purchases Two Commercial Properties in Metro Dallas

by Haisten Willis January 23, 2015

FORT WORTH AND CARROLLTON, TEXAS — Ascension Properties LP has purchased two properties located in Fort Worth and Carrollton. The purchase is the result of a 1031 tax-deferred exchange from the sale of Ascension Point Condominiums in August 2014. The first property is an office building built in north Fort Worth in 2004. Ascend Alliance LP sold the 20,100-square-foot building. Marty Rader with DFW Realty Partners LLC represented the seller in the transaction. Steve Fithian with Sperry Van Ness/Visions Commercial represented Ascension in the transaction. The other property is an industrial building located at 2420 Tarpley Road in Carrollton. Beltwood I & II Ltd., and Belmeade Tarpley Ltd., were the sellers. The property spans 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness/David Cook Co. represented the seller. Fithian represented Ascension in the sale.

January 23, 2015

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