WOODRIDGE, ILL. — Krusinski Construction Co. has completed the build-out of a 66,000-square-foot interior warehouse space on behalf of J&P Warehousing and Tardella Foods in the Chicago suburb of Woodridge. J&P Warehousing is a third-party logistics firm and will serve its food-and-beverage client, Tardella Foods, out of the Woodridge facility at 2250 W. 75th St. Krusinski previously completed construction of the building, a 100,400-square-foot facility, on behalf of developer Molto Properties. The interior build-out included minor office modifications, installing a demising wall to separate the J&P Warehousing space from the adjacent 34,400-square-foot tenant space. Krusinski also separated gas and electrical services to accommodate the multi-tenant property. Additional project elements consisted of installing tenant-specific electrical and HVAC equipment, including a charging station for electric pallet jacks and an air compressor. Harris Architects designed the building.
Industrial
BKM Capital Partners Sells 156,154 SF Broadwood Business Centre in Mesa, Arizona for $32.9M
by Amy Works
MESA, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Broadwood Business Centre, a multi-tenant light industrial property in Mesa. A joint venture between Bendetii and Westport Capital Partners acquired the asset for $32.9 million. Originally built in mid-1980s and extensively renovated to be competitive in the upper tier of business parks, Broadwood Business Centre features 156,154 square feet of space spread across eight freestanding buildings at 2452 W. Birchwood Ave. and three multi-tenant buildings at 2450 W. Broadway Ave. and 2451 W. Birchwood Ave. At the time of sale, the property was fully leased. The industrial park can accommodate a broad range of user types, including showroom users, quasi retailers, manufacturers and distributors. Bob Buckley and Tracy Cartledge of Cushman & Wakefield Capital Markets, along with Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield National Industrial Advisory Group – Mountain West, represented the seller in the deal.
MCKINNEY, TEXAS — Marcus & Millichap has brokered the sale of Prosper Self Storage, a 460-unit facility located north of Dallas in McKinney. The facility was originally built in 2009 and spans 72,147 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based investor, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity. The sales price was not disclosed.
HOUSTON — Global logistics company eFulfill has preleased the entire 368,099 square feet of Building B at Post Oak Logistics Park, a 43-acre development that is under construction in southwest Houston. North Texas-based Jackson-Shaw is developing Post Oak Logistics Park, which is now fully preleased following a 168,193-square-foot deal with Festival Trading Co. earlier this year, in partnership with Greystar. Beau Kaleel and Michael Foreman of Cushman & Wakefield represented ownership in the lease negotiations. Jimo Liu, also with Cushman & Wakefield, represented the tenant.
SOUTH BRUNSWICK, N.J. — Locally based developer Woodmont Industrial Partners has completed a 210,000-square-foot expansion and renovation project in South Brunswick, about 50 miles south of Manhattan. Woodmont, in partnership with Sagard Real Estate, the Denver-based firm formerly known as EverWest Real Estate Investors, renovated a 145,000-square-foot facility at 461 Ridge Road and developed a new, 65,000-square-foot facility. The property now features a clear height of 32 feet, 30 loading doors and four drive-in doors. JLL is marketing the property for lease.
CONSHOHOCKEN, PA. — New York-based investment firm Midland Properties has purchased a 74,703-square-foot industrial property in Conshohocken, a northern suburb of Philadelphia. The sales price was $2.9 million. The site at 1304 Conshohocken Road spans 5.6 acres and houses multiple buildings and outdoor storage space. Steve Marzullo, Adam Silverman and Michael Roden of CBRE represented the seller, Pennsylvania-based Emanuel Properties, in the negotiations.
Inland Ports Serve As Vital Link in Supply Chain for Industrial Users, Say InterFace Panelists
by John Nelson
CHARLOTTE, N.C. — Inland ports are a growing transportation option in the national supply chain. These facilities provide users — including automotive suppliers, retailers, manufacturers and agricultural producers — an option to import and export their wares to seaports via shipping containers by rail as opposed to trucking their products directly to a port terminal. One of the more prominent inland ports in the country is Inland Port Greer in Upstate South Carolina. The facility’s anchor client is BMW, which operates its mega manufacturing campus in nearby Spartanburg, S.C. Class I freight railroad operator Norfolk Southern Corp. provides rail services from the inland port to the Port of Charleston. Brian Gwin, senior industrial development manager for Norfolk Southern, said that when the railroad operator and the South Carolina Ports Authority (SCPA) established Inland Port Greer in 2013, it was apparent almost immediately that they had a behemoth on their hands. “We knew it was going to be mostly BMW, but we designed Inland Port Greer for 50,000 lifts a year,” said Gwin, referring to the number of shipping containers moved on or off Norfolk Southern trains at the inland port. According to multiple media outlets, the inland port exceeded 100,000 …
CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Access Storage, a 626-unit self-storage facility in Corpus Christi. The property was built in 2003 and spans 83,223 net rentable square feet. Brian Kelly, Brett Hatcher, Gabriel Coe, Luke Sullivan and Nathan Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Tim Speck of Marcus & Millichap assisted in closing the deal as the Texas broker of record.
LA MARQUE, TEXAS — Public Storage is underway on a 606-unit expansion project in La Marque, located southeast of Houston. The expansion will add 87,124 net rentable square feet of climate-controlled space to the existing facility, which also features RV parking with some larger 90-foot, drive-thru units. California-based Public Storage is both the operator and owner of the facility. Triad Construction is the general contractor for the project, which is slated for a November completion.
ARLINGTON, TEXAS — SVN | Dunn Commercial has brokered the sale of a 56,905-square-foot industrial building in Arlington. According to LoopNet Inc., the property at 3701 Dalworth St. was built on five acres in 1966 and features 18-foot clear heights. David Dunn and Courtney Stanford of SVN | Dunn represented the seller in the transaction. Chris Wong of Bradford Commercial Real Estate Services represented the buyer. Both parties requested anonymity. The deal traded at a cap rate of 3.37 percent.