Industrial

Cushman & Wakefield Secures Construction Financing for 500,220 SF Industrial Development in Locust Grove, Georgia

by Hayden Spiess May 13, 2024

LOCUST GROVE, GA. — Cushman & Wakefield has arranged financing for the construction of a 500,220-square-foot speculative industrial building in Locust Grove, roughly 40 miles southeast of Atlanta. Dubbed Building C, the property will be situated at 600 Price Drive within The Cubes at Locust Grove, a master-planned industrial park. The building will feature 40-foot clear heights, 156 trailer parking spaces and 120 docks. John Alascio, Walker Brown, T.J. Sullivan, Claire Oster, Stewart Calhoun, Casey Masters and Ryan Bellows of Cushman & Wakefield secured the financing through Bank OZK on behalf of the borrower. A construction timeline for Building C at The Cubes at Locust Grove was not disclosed.

May 13, 2024

Arizona Development Industrial Office Western

Baker Development Receives Zoning Approval for 72-Acre AZUL Corporate Campus in Phoenix

by Amy Works May 13, 2024

PHOENIX — Baker Development has received zoning approval for AZUL, a 72-acre project on the former ON Semiconductor site at 52nd Street and Loop 202 in Phoenix. The site is now zoned for a wide variety of commercial and industrial uses, including corporate headquarters, advanced manufacturing, logistics, hospitals, hyperscales and other quantum computing users. Demolition of the former semiconductor factory is underway and scheduled for completion by fourth-quarter 2024. AZUL plans to develop up to 2 million square feet of corporate campus space on the site.

May 13, 2024

California Development Industrial Western

Alpine Food Distributing Plans 116,766 SF Cold Storage Facility in Vernon, California

by Amy Works May 13, 2024

VERNON, CALIF. — ARCO National Construction’s Pacific Coast division is providing design-build services for a 116,766-square-foot cold storage facility renovation project for Alpine Food Distributing. The site is located in Vernon, a first-ring suburb of Los Angeles. The project includes more than 40,000 square feet of freezer/cooler space, including nearly 10,000 square feet of convertible space capable of accommodating temperatures ranging from negative 10 degrees Fahrenheit to 40 degrees Fahrenheit. There are also 2,455 square feet of production cooler available for produce processing, as well as more than 50,000 square feet of ambient storage. Additional construction details will include a carbon-dioxide refrigeration system, 15 dock positions, 26.5-foot clear heights and nearly 10,000 square feet of office space and break rooms. Alpine Foods plans to begin operations within the facility before the end of this year.

May 13, 2024

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 10,143 SF Industrial Lease in Northeast Dallas

by Taylor Williams May 13, 2024

DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 10,143-square-foot industrial lease in northeast Dallas. According to LoopNet Inc., the property at 10451 Brockwood Road was built in 1984 and totals 58,758 square feet. Josh Barnes, Blake Troiani and Mitch Cantwell of Holt Lunsford represented the owner, Boston-based Taurus Investment Holdings, in the lease negotiations. Landon Brune of CBRE represented the tenant, Digi Security Systems.

May 13, 2024

Development Industrial New York Northeast

Innovo Property Group Underway on 736,000 SF Industrial Project in Queens

by Taylor Williams May 13, 2024

NEW YORK CITY — Locally based investment and development firm Innovo Property Group is underway on construction of a 736,000-square-foot industrial project located at 28-90 Review Ave. in the Long Island City area of Queens. The six-story building, which is designed to accommodate two tenants per floor, will feature a clear height of 32 feet and parking for 166 cars and 118 trailers. Last summer, Innovo received $354 million in construction financing from Axos Bank and Cerberus Capital Management and equity from Goldman Sachs Asset Management. JLL arranged the financing, although details about the amount of each component within the capital stack were not disclosed. The topping out of the complex is slated for later this year. Full completion is scheduled for 2025.

May 13, 2024

Industrial Loans Midwest Minnesota

CBRE Arranges $100M Recapitalization for 36-Property Industrial Service Facility Portfolio Across 20 States

by Kristin Harlow May 13, 2024

MINNESOTA — CBRE has arranged a $100 million recapitalization of a 36-property industrial service facility portfolio on behalf of a joint venture between Wayzata, Minn.-based Moir Park Capital and Eden Prairie, Minn.-based Hempel Real Estate. Industrial service facilities provide an outdoor storage component coupled with zoning that allows for a wide range of industrial uses. The portfolio encompasses nearly 630,000 square feet across 201 acres in 20 states. All of the properties are fully occupied by eight tenants, including United Rentals, Gerber Collision & Glass, Kaige Kubota, Caliber Collision, Sunbelt Rentals, Home Depot, Cummins and H&E Equipment Services. Judd Welliver, Bentley Smith, Michael Caprile, Ryan Bain, Zachary Graham, Joseph Horrigan, Will Pike and Victoria Gomez of CBRE represented Moir Park Capital in the transaction.

May 13, 2024

Acquisitions Industrial Midwest Minnesota

Midloch Investment Partners, Fountain Real Estate Capital Buy Industrial Property in Suburban Minneapolis for $11.9M

by Kristin Harlow May 13, 2024

GOLDEN VALLEY, MINN. — A joint venture between Midloch Investment Partners and Fountain Real Estate Capital have acquired Boone Plaza in the Minneapolis suburb of Golden Valley for $11.9 million. The 123,608-square-foot industrial flex property is fully leased to 16 tenants. Constructed in 1984, Boone Plaza is situated on 10 acres at 1000 Boone Ave. North immediately north of the headquarters of General Mills. Some of the tenants at the property include General Mills, Gonyea Custom Homes and Schlage Lock Co. Fountain Real Estate will serve as the leasing broker.

May 13, 2024

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 12,800 SF Industrial Lease in Coppell, Texas

by Taylor Williams May 10, 2024

COPPELL, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 12,800-square-foot industrial lease in Coppell, located in the northern-central part of the metroplex. According to LoopNet Inc., the property at 820 W. Sandy Lake Road was built in 2005. Andrew Gilbert and Keaton Brice of Holt Lunsford represented the owner, LaSalle Investment Management, in the lease negotiations. Kurt North of North Pointe Commercial represented the tenant, Sky Elements CTC.

May 10, 2024

Industrial Leasing Activity Texas

Pressify Signs 12,192 SF Industrial Lease in West Houston

by Taylor Williams May 10, 2024

HOUSTON — Pressify Inc., a provider of custom printing services for the apparel industry, has signed a 12,192-square-foot industrial lease at 10161 Harwin Drive in West Houston. Stephen Hazen and Jacob Summers of locally based brokerage firm Oxford Partners represented Pressify in the lease negotiations. Lesley Rice and Andy Parish of Partners Real Estate represented the landlord.

May 10, 2024

Acquisitions Arizona Industrial NAI Western

NAI Horizon Brokers Sale of 198,304 SF Industrial Building in Peoria, Arizona

by Amy Works May 10, 2024

PEORIA, ARIZ. — NAI Horizon has brokered the sale of a 198,304-square-foot industrial facility located at 10857 N. 95th Ave. in Peoria, a northwestern suburb of Phoenix. An entity doing business as Glez C Properties LLC acquired the asset from Chris Finn for $9.5 million. Jeffrey Garza Walker of NAI Horizon represented the buyer in the transaction, while the seller was self-represented.

May 10, 2024

Newer Posts

Older Posts