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Industrial

2548-Cactus-Rd-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

EZ Fit Movers Acquires 44,278 SF Built-to-Suit Industrial Building in San Diego

by Amy Works

SAN DIEGO — San Diego-based EZ Fit Movers LLC has purchased an industrial building located at 2548 Cactus Road in the Otay Mesa submarket of San Diego. A local development company sold the asset for $11.4 million. EZ Fit Movers entered into a build-to-suit agreement in 2021 with the seller with the intent of occupying the 44,278-square-foot building. EZ Fit Movers will occupy more than half of the office and warehouse space of the facility. Todd Holley of Voit Real Estate Services represented the buyer, while CBRE represented the seller in the transaction.

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3000-3010-E-La-Jolla-St-Anaheim-CA.
CaliforniaIndustrialLeasing ActivityMarket ReportsWesternWestern Market Reports

Orange County Industrial Sector Experiences Leasing Slowdown, but Investment Remains Active

by Jeff Shaw

— By Erick Parulan — The Orange County industrial market, along with Los Angeles and the Inland Empire, is experiencing a general decline in leasing activity as it navigates the post-pandemic landscape. Tenant demand and leasing have significantly slowed as occupiers adopt a more cautious approach to expansion, with some occupiers deciding to downsize and consolidate their industrial footprints.  Tenant occupancies continue to contract in the second quarter, with manufacturers, retailers and 3PL (third-party logistics) companies shedding unused space that may have been acquired during the pandemic frenzy, further increasing sublet availabilities. Orange County sublet availabilities surpassed 3.3 million square feet in the second quarter of 2024, raising total availabilities to 9.5 percent for the quarter. While pandemic-driven rental rates hit historic highs, they have since cooled amid softening demand. Many landlords now offer increased free rent concessions to attract new tenants. Average asking lease rates have been on the decline in Orange County over the past two quarters. They decreased by 5.2 percent from the prior quarter, reaching $1.64 per square foot in second-quarter 2024. High market rents previously deterred many occupiers, but with rents on the decline, some tenants have adopted a wait-and-see approach to see where rates …

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AcquisitionsIndustrialMidwestMissouri

Hunt Midwest Sells 58 Acres at Hunt Midwest Business Center in Kansas City to Alterra IOS

by Kristin Harlow

KANSAS CITY, MO. — Hunt Midwest has sold a portion of its industrial outdoor storage portfolio at Hunt Midwest Business Center in Kansas City to national industrial outdoor storage firm Alterra IOS. The Philadelphia-based firm purchased 58 acres at three locations along Parvin Road and Arlington Avenue. The facilities include staging lots leased by Adrian Steel, a manufacturer for commercial van and truck equipment, and Ford Motor Co.’s North American Vehicle Logistics Outbound Shipping Center, the waystation for nearly every Ford Transit built in North America. Austin Baier of CBRE represented Hunt Midwest, while Joe Orscheln of CBRE represented Alterra IOS, which now owns more than 250 properties across 30 states.

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IndianaIndustrialLeasing ActivityMidwest

Sojo Industries Signs 151,950 SF Industrial Lease at Mohr Logistics Park Near Indianapolis

by Kristin Harlow

WHITELAND, IND. — Sojo Industries has signed a 151,950-square-foot industrial lease in Lot 5 of Mohr Logistics Park in Whiteland, a southern suburb of Indianapolis. Mark Writt of CBRE represented ownership, Mohr Capital. Jim Scott and Steve Shaub of Avison Young represented the tenant, which is a technology company engaged in advanced robotics, mobile manufacturing and modular packaging solutions for delivering packaging and assembly services for the food-and-beverage industry. Sojo maintains production facilities in Pennsylvania, California, Texas and Indiana, along with mobile sites throughout the country. All locations utilize high-speed automated lines and robotics to handle packaging materials. Additional tenants at Mohr Logistics Park include Goodyear, DHL and Turn 14. The industrial park totals 475 acres, and Mohr plans to develop more than 7 million square feet of bulk industrial buildings.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 40,018 SF Industrial Lease in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Lee & Associates has negotiated a 40,018-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 4100 New York Ave. was built in 2018 and totals 110,468 square feet. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, New York City-based Link Logistics Real Estate, in the lease negotiations. Brian Gilchrist of CBRE represented the tenant, Lapgear, which provides surfaces for office and lifestyle activity usage.

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Mount-Laurel-Cold-Storage
DevelopmentIndustrialNew JerseyNortheast

BentallGreenOak, RL Cold Break Ground on 215,766 SF Cold Storage Project in Mount Laurel, New Jersey

by Taylor Williams

MOUNT LAUREL, N.J. —  A joint venture between institutional investment firm BentallGreenOak and RL Cold has broken ground on a 215,766-square-foot cold storage project in Mount Laurel, an eastern suburb of Philadelphia. Greek Design|Build, an affiliate of regional owner-operator Greek Real Estate Partners, is handling construction of the project, which is being developed on a speculative basis. The facility will feature four variable compartments that can accommodate temperatures ranging from minus 10 to 55 degrees Fahrenheit, as well as a food inspection area, 27 dock positions, 5,000 square feet of mezzanine storage space and office space. A tentative completion date was not disclosed.

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KV-Buckeye-10-Buckeye-AZ
AcquisitionsArizonaIndustrialWestern

MDH Partners Buys 249,600 SF KV Buckeye 10 Industrial Park in Buckeye, Arizona for $51M

by Amy Works

BUCKEYE, ARIZ. — MDH Partners has acquired KV Buckeye 10, a two-building industrial property located at 835 and 945 N. 215th Ave. in the Phoenix suburb of Buckeye, from Kentwood Ventures for $51 million. Situated on 18.8 acres, KV Buckeye 10 features 249,600 square feet of Class A industrial space spread across two buildings. Built in 2023, the asset feature 535 car parking spaces and 28-foot clear heights. Building A is 115,200 square feet and Building B is 134,400 square feet, with each building offering 12 truck-well doors and six grade-level doors. Currently KV Buckeye 10 is 60 percent leased to a variety of tenants, including the City of Buckeye; Hajoca, a privately held wholesale distributors of plumbing, heating and cooling, pool and industrial supplies; Safelite, a national automotive glass repair and replacement provider; and AVI, an international provider of communications and audio-visual technology. Greer Oliver and Connor Nebeker-Hay of JLL represented the seller in the deal. John Lydon, Hagen Hyatt and Kelly Royle of JLL are handling leasing for the project.

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8250-8260-Camino-Santa-Fe-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

Hill Properties, Westport Capital Partners Divest of Multi-Tenant Industrial Building in San Diego for $17.1M

by Amy Works

SAN DIEGO — Hill Properties and Westport Capital Partners have completed the disposition of 8250-8260 Camino Santa Fe in San Diego to CSF LLC for $17.1 million, or $282 per square foot. Situated on 3.6 acres, the two-building property offers 60,866 square feet of industrial space. At the time of sale, the asset was 96 percent occupied by eight tenants. The property, which was built in the late 1980s, recently underwent extensive capital improvements, including new exterior paint, suite and directional signage, monument signage, parking lot resurfacing and new landscaping. Matt Poucho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE’s Investment Properties represented the seller, while Chris Nelson of Matthews Real Estate and Brian Reyes of Tangram Commercial represented the buyer in the deal.

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Dicks-Sporting-Goods-Fort-Worth
DevelopmentIndustrialTexas

DICK’s Sporting Goods to Open 800,000 SF Distribution Center in South Fort Worth, Create 300 Jobs

by Taylor Williams

FORT WORTH, TEXAS — DICK’s Sporting Goods (NYSE: DKS) will open an 800,000-square-foot distribution center in Fort Worth, a move that is expected to create about 300 new jobs within the local economy over the next 10 years. The facility will be situated on an 89.5-acre site within Risinger/35 Logistics Park, a development by Hillwood on the city’s south side, and will serve more than 100 stores across several states. Construction of the facility, which is expected to create more than 800 temporary jobs, is scheduled to begin this fall and to be complete in early 2026. Nationally, the Pittsburgh-based retailer operates five other distribution centers in Georgia, New York, Arizona, Indiana and Pennsylvania.

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Carpenters-Logistics-Center-Channelview
DevelopmentIndustrialTexas

TCC, South Atlantic Underway on 752,134 SF Industrial Project in Channelview, Texas

by Taylor Williams

CHANNELVIEW, TEXAS — A joint venture between Trammell Crow Co. (TCC) and an affiliate of South Atlantic Services is underway on construction of Carpenters Logistics Center, a 752,134-square-foot industrial project located in the eastern Houston suburb of Channelview. The development team has tilted the walls on the cross-dock building and is targeting January 2025 for delivery. Building features of Carpenters Logistics Center include a cross-dock configuration, 40-foot clear heights, 330 trailer parking stalls and an ESFR sprinkler system. The site also features five acres of contiguous industrial outdoor storage space. Seeberger Architecture designed the project, and D.E. Harvey Builders is serving as the general contractor. CBRE is the leasing agent.

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