Industrial

ADLER KAWA ACQUIRES CARMEL EXECUTIVE PARK IN CHARLOTTE

by admin August 9, 2013

CHARLOTTE, N.C. — Adler Kawa Real Estate Advisors (AKREA), a joint venture between Adler Group and Kawa Capital Management, has purchased Carmel Executive Park, a 225,000-square-foot business complex in Charlotte. The six-building property is located at the intersection of Carmel and Pineville-Matthews roads and houses more than 100 tenants, including Liberty Mutual Insurance, JP Morgan Chase Bank, Crump Life Insurance Services, Bank of North Carolina and Hanson Brick East. The property is currently 95 percent leased. The transaction is the first purchase for Adler Kawa Real Estate Fund II. AKREA purchased the property from Pizzagalli Properties, which originally developed the property in 1990. Patrick Gildea and Ryan Clutter of CBRE represented the seller in the transaction. Charles Foschini, Christopher Apone and Compie Newman of CBRE's Debt & Equity Finance Group arranged acquisition financing.

August 9, 2013

CADENCE MCSHANE COMPLETES 181,067 SF BUILD-TO-SUIT IN HOUSTON

by admin August 9, 2013

HOUSTON — Cadence McShane Construction has completed a 181,067-square-foot build-to-suit for GAC Energy & Marine Services LLC at Central Green Business Park. The facility was built to meet LEED-CS (core and shell) certification and includes 31,309 square feet of office space and three acres of outdoor storage in addition to warehouse and distribution space. This was the fourth project built at Central Green Business Park by Cadence McShane on behalf of property owner Liberty Property Trust.

August 9, 2013

Industrial Southeast

MCCRANEY PROPERTY COMPLETES DADE PAPER DISTRIBUTION FACILITY

by admin August 8, 2013

ORLANDO, FLA. — McCraney Property Co. (MPC), an industrial real estate developer and manager, has completed construction on Dade Paper Co.'s new 150,000-square-foot distribution center in Orlando. The facility is located in MPC's 25-acre John Young Business Park. The property is the first of three properties in John Young Business Park that MPC has committed to develop in its joint venture arrangement with Clarion Partners. The other two spec projects, totaling 243,236 square feet, will break ground this month with an expected completion in first quarter 2014.

August 8, 2013

Industrial Southeast

FRANKLIN STREET ARRANGES SALE OF FLEX PROPERTY IN JACKSONVILLE

by admin August 8, 2013

JACKSONVILLE, FLA. — Franklin Street, a full-service commercial real estate firm, has closed the sale of an 8,050-square-foot warehouse/office facility, located at 5760 Mining Terrace in Jacksonville. The property is located within the South Jacksonville Industrial Park. National Loan Corp. sold the property to Specialty T's, a company that specializes in silk screen printing, for $260,000, or $32.30 per square foot. Monte Merritt of Franklin Street's Jacksonville office represented the seller in the transaction.

August 8, 2013

Industrial Midwest

FORMER HOSTESS FACILITY SELLS IN METRO INDIANAPOLIS

by admin August 8, 2013

GREENWOOD, IND. — New HB Acquisition LLC has sold the former Hostess Wonder Bread facility, a 19,125-square-foot building in Greenwood, about 15 miles south of Indianapolis. The freestanding building is located on two acres at 710 US 31 N. Creighton Shook and Luke Householder of Coldwell Banker Commercial Realty Services represented New HB Acquisition LLC in the transaction. Bill French of Cassidy Turley represented the buyer.

August 8, 2013

Industrial Southeast

CHYRCH REALTY ARRANGES INDUSTRIAL LEASE IN GASTONIA

by admin August 6, 2013

GASTONIA, N.C. — Chyrch Realty has arranged a 3,000-square-foot lease for Class A flex space at 1821 Wren Road, located within the Gaston Business Park in Gastonia, about 22 miles west of Charlotte The five-year lease features a five-year extension option. Jennifer Church of Chyrch Realty represented the owner, COW-III LLC, in the lease transaction. Marty McLaughlin of Piedmont Properties represented the tenant, Invacare Outcomes Management LLC, a subsidiary of Invacare Corp. The Elyria, Ohio-based Invacare Corp. is a medical products manufacturer and distributor.

August 6, 2013

Industrial Midwest

JLL ACQUIRES CAPITAL REALTY IN KANSAS CITY

by admin August 6, 2013

KANSAS CITY, MO. — Jones Lang LaSalle (JLL) has entered into an agreement to acquire Capital Realty in Kansas City. Capital Realty specializes in leasing, property management and sales of industrial, office and retail properties and project management and development services. Kevin Wilkerson, president of Capital Realty, will join JLL as managing regional director along with 24 employees from Capital Realty who will add to JLL’s existing team of industrial, office and tenant representation brokers. Wilkerson will lead the industrial team and partner with managing regional director Larry Glaze, who leads the office tenant representation team, to drive growth in the Kansas City market. Jeffrey Kembel and Phillip Algrim, senior vice presidents at Capital Realty, will join JLL as senior vice presidents. Merging operations and adding Capital Realty’s local expertise will strengthen the platform of comprehensive services the global real estate firm provides in the market, according to JLL. Capital Realty currently manages approximately 90 properties totaling 5.4 million square feet across the Kansas City area for regional and local institutional owners.

August 6, 2013

Industrial Midwest

CBRE ARRANGES SALE OF 115,857 SF WAREHOUSE IN METRO INDY

by admin August 6, 2013

GREENFIELD, IND. — The Indianapolis office of CBRE has arranged the sale of an 115,857-square-foot light industrial center in Greenfield, a western suburb of Indianapolis. California State Teachers’ Retirement System previously owned the facility, which is located at 315 W. New Road. The buyer, Bastian Development, a division of Bastian Solutions, plans to use the center for a sales and distribution operation to expand its Indianapolis area operations. Mark Writt, a broker in CBRE’s office industrial group, marketed the property and procured the buyer in the transaction.

August 6, 2013

Industrial Northeast

EAGLEBRIDGE ARRANGES $3.8M FOR INDUSTRIAL BUILDING

by admin August 6, 2013

WEST BRIDGEWATER, MASS. — EagleBridge Capital has arranged $3.8 million in long-term financing for a solar rooftop installation at One United Drive in West Bridgewater, about 30 miles south of Boston. Tenants at the 315,000-square-foot distribution building include Cheer Pack North America, which occupies 187,500 square feet and Federal Express, which occupies 88,500 square feet. Brian Sheehan and Ted Sidel of EagleBridge arranged the financing. A Massachusetts-based financial institution, acting on behalf of United LLC, provided the loan.

August 6, 2013

Industrial Texas

FOUNDERS BUYS 124,042 SF ELTEK WAREHOUSE IN PLANO

by admin August 6, 2013

PLANO, TEXAS — Founders Properties has purchased the Eltek North American Headquarters building, a 124,042-square-foot Class A build-to-suit warehouse close to U.S. Highway 75 and President George Bush Turnpike in Plano. CBRE represented the seller, Argent Property Co., and worked on behalf of the buyer to secure a permanent loan through EverBank. The property, completed in December 2012, is 100 percent leased and located in Plano’s Research and Technology District.

August 6, 2013

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