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Industrial

485-N-Jimmy-Doolittle-Salt-Lake-City-UT
AcquisitionsIndustrialLoansUtahWestern

Gantry Secures $13.5M Acquisition Loan for Industrial Building in Salt Lake City

by Amy Works

SALT LAKE CITY — Gantry has secured a $13.5 million permanent loan for the purchase of an industrial property located at 485 N. Jimmy Doolittle Road in Salt Lake City. Situated on 9.4 acres, the asset offers 148,263 square feet of Class A industrial space, a clear height of 32 feet, four drive-in bays, 29 exterior dock doors, 198 parking spaces and ample trailer storage space. The property is fully leased to two tenants. Mike Wood, Ben Johnson and Tim Brown of Gantry’s Seattle production office represented the borrower, a private real estate investor. The six-year, fixed-rate loan was provided by one of Gantry’s insurance company correspondent lenders and features full-term interest-only payments with prepayment flexibility.

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1945-W-Broadway-Rd-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Camblin Steel Service Sells 20,400 SF Industrial Facility in Phoenix to Capitol Engineering

by Amy Works

PHOENIX — Camblin Steel Service has completed the disposition of a freestanding industrial property in Phoenix to Capitol Engineering Inc., an owner/occupier, for $13 million. The buyer will relocate to the facility, which is situated on 11 acres at 1945 W. Broadway Road. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix, in partnership with Bryce MacDonald of the firm’s Sacramento office, represented the seller. Will Groves of Cushman & Wakefield’s Phoenix office represented the buyer in the deal. The 20,400-square-foot building features 14,400 square feet of flex space, 6,000 square feet of office space, four open production/manufacturing bays with overhead shelter and several overhead Kone Cranes. The property was initially built in 2005, with two of the bays constructed in 2013 and 2014. The warehouse features durable concrete tilt-up construction, ample parking for trucks and vehicles and a perimeter of secure fencing. The facility was formerly used as a state-of-the-art structural steel fabrication facility.

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CaliforniaIndustrialMarket ReportsWesternWestern Market Reports

Los Angeles’ Industrial Market Offers Users Compelling Opportunities

by John Nelson

— By Patrick Barnes of Avison Young —  The Los Angeles industrial property market has experienced increasing space availability and shifting tenant priorities over the past several quarters. Due to concerns about potential labor strikes at East and Gulf Coast ports, the anticipated surge in short-term sublease demand failed to materialize in the fourth quarter of 2024. Additionally, with a labor contract agreement reached in January, any lingering expectations that rerouted shipments would continue to bolster West Coast activity have largely dissipated. Despite a 21.7 percent year-over-year increase in TEU (twenty-foot equivalent unit) volume from 2023 to 2024, sublease availability has risen significantly as TEU tenants have either warehouse capacity or shipments leaving the region by rail. Companies today are reassessing their space needs, focusing on cost savings and operational optimization rather than expansion to deal with inflation and tariffs. Sublease space increased by 12.8 percent quarter over quarter, reaching 11.2 million square feet and pushing the overall availability rate to 9.3 percent.  These changes have also led to a drop in industrial rental rates. After peaking at $1.97 per square foot in 2023, average rents have fallen 26.4 percent to $1.45 per square foot in fourth-quarter 2024. However, Class …

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AcquisitionsIndustrialTexas

CenterPoint Buys 254,705 SF TruePort Distribution Center in Deer Park, Texas

by Taylor Williams

DEER PARK, TEXAS — Chicago-based investment and development firm CenterPoint Properties has purchased the 254,705-square-foot TruePort Distribution Center in Deer Park, an eastern suburb of Houston. According to LoopNet Inc., the facility was built on 13 acres in 2024 and features 36-foot clear heights, 44 dock doors and 145 standard parking spaces. Trent Agnew, Charlie Strauss and Lance Young of JLL brokered the deal. The seller and sales price were not disclosed. The property was fully leased at the time of sale to personal protection safety products manufacturer Ironwear.

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IndustrialLeasing ActivityTexas

ProSource Industries Signs 104,830 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — ProSource Industries, a manufacturer of wire harnesses, cable assemblies and electrical control panels, has signed a 104,830-square-foot industrial lease in the central metroplex city of Grand Prairie. According to LoopNet Inc., the cross-dock facility at 602 Fountain Parkway was built on 13.8 acres in 1970, totals 300,705 square feet and features five drive-in bays, 16 exterior dock doors and 532 standard parking spaces. Langston Sutcliffe of Partners Real Estate represented the tenant in the lease negotiations. Stream Realty Partners represented the landlord, Dallas-based Leon Capital.  

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Gillespie-Field-iPark-El-Cajon-CA
CaliforniaDevelopmentIndustrialWestern

C2 Building Group Completes 380,000 SF Manufacturing Facility for GKN Aerospace in El Cajon, California

by Amy Works

EL CAJON, CALIF. — Construction is complete for Gillespie Field iPark, a build-to-suit manufacturing facility for GKN Aerospace and distribution speculative suite near Gillespie Field public airport in El Cajon. The project’s development team includes Ware Malcomb as architect, interior designer and civil engineer; Chestnut Properties as developer; C2 Building Group as general contractor; Prime Engineering as structural engineer; Ridge Landscaping as landscape architect; and NV5 as utility consultant. GKN Aerospace is a global tier-one suppler of aftermath repairs, airframe and engine structures, landing gear, electrical interconnection systems and transparencies. The 380,000-square-foot facility features a two-story lobby, mezzanine, conference rooms, break areas, technical labs and climate-conditioned manufacturing warehouse.

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7245-Henry-Clay-Blvd.-Liverpool-New-York
AcquisitionsIndustrialNew YorkNortheast

Friedman Real Estate Arranges Sale of 583,851 SF Industrial Property in Liverpool, New York

by Taylor Williams

LIVERPOOL, N.Y. ­— Michigan-based brokerage firm Friedman Real Estate has arranged the sale of a 583,851-square-foot industrial property in Liverpool, located just outside of Syracuse. The property at 7245 Henry Clay Blvd. previously housed a distribution facility for convenience and drugstore chain Rite Aid. According to LoopNet Inc., the property was built on 58 acres in 1978 and features a clear height of 24 feet, 35 exterior dock doors, five drive-in bays and 300 standard parking spaces. The buyer, seller and sales price were not disclosed.

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AcquisitionsIndustrialMichiganMidwest

DWG Capital Partners Buys 49,000 SF Michigan Industrial Portfolio in Sale-Leaseback

by Kristin Harlow

KALKASKA, MICH. — DWG Capital Partners has purchased an industrial manufacturing portfolio in Northwest Michigan in a sale-leaseback with Kalkaska Screw Products. The neighboring facilities total 49,000 square feet on 13.4 acres in Kalkaska. Employee-owned Kalkaska Screw Products manufactures highly engineered machined components primarily for the automotive, aerospace and heavy truck industries. Brent Lowell of Community Choice Credit Union originated acquisition financing. Luke Timmis, Griffin Pitcher, Mark Woods and Cade Kozlowski of Signature Associates represented the seller.

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IllinoisIndustrialLeasing ActivityMidwest

Offshore Marine Signs 12,000 SF Industrial Lease in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — Offshore Marine, a provider of marine equipment and services, has signed a 12,000-square-foot industrial lease at 28041 N. Bradley Road in the Chicago suburb of Lake Forest. The tenant will utilize the building as its main headquarters for distribution and a retail showroom. The building totals 23,482 square feet, which includes full access to the property’s outside storage area, and remains available for lease. The property is also for sale. Elisabeth Lazzara, Denise Chaimovitz and Brian Bocci of Entre Commercial Realty negotiated the lease.

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IndustrialMarket ReportsSoutheastSoutheast Market ReportsTennessee

Nashville’s Industrial Market: A Powerhouse Fueled by Demand, Strategic Growth

by John Nelson

Nashville’s industrial real estate market closed 2024 with a clear message: this metro is a logistics juggernaut, blending robust demand, strategic location and a dynamic investment landscape. With a vacancy rate ticking up to 4.1 percent in the fourth quarter amid new supply, yet absorption exceeding 4.2 million square feet year-to-date, the market’s resilience stands out.  Rents climbed to $9.94 per square foot, and industrial sales topped $1.4 billion — a 37 percent surge year-over-year. The takeaway is unmistakable for stakeholders: Nashville’s industrial sector thrives on its ability to absorb growth while signaling new opportunities for 2025. Economic engines  Macro and local economic trends underpin this strength. Nationally, e-commerce sales hit $308.9 billion in fourth-quarter 2024, a 9.4 percent increase year-over-year, according to Commercial Edge. This uptick amplifies demand for warehouse and distribution space. Locally, Nashville’s job growth moderated to 0.9 percent in 2024, according to Oxford Economics, down from 3.2 percent in 2023. But industrial sectors shone in the report: manufacturing jobs grew 2.2 percent and trade, transportation and utilities grew by nearly 0.5 percent.  The Nashville Area Chamber of Commerce reported that 79 percent of 2024 business relocations and expansions involved industrial users, promising 3,309 new jobs. With …

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