Industrial

Clarion Provides Financing for 2.3 MSF National Industrial Outdoor Storage Portfolio

by Taylor Williams March 31, 2025

NEW YORK CITY — A fund backed by New York City-based Clarion Partners has provided an undisclosed amount of financing for a national portfolio of eight industrial outdoor storage (IOS) properties totaling 2.3 million square feet. Eastdil Secured arranged the debt and acted as an advisor on the deal. The debt is a first mortgage loan for the refinancing of the national portfolio, and the borrower is a partnership between Outour Storage Investments and affiliates of Cerberus Capital Management. The portfolio encompasses properties in Chicago, Phoenix, Las Vegas, Houston, California’s Inland Empire, Dallas-Fort Worth and Atlanta with an aggregate size in excess of 50 acres. The Clarion fund also acquired a 7.6-acre IOS facility at 15550 Export Plaza Drive in Houston. The Houston property was recently upgraded, includes a 24,000-square-foot structure and was fully leased at the time of sale to a waste management services company. “This portfolio is a relatively rare assembly of IOS properties with best-in-class specifications, terrific market locations and a strong roster of national and regional credit tenants,” says Brent Jenkins, portfolio manager at Clarion Partners. “This financing provides an ideal opportunity to expose our investors to this high-demand subsector within the larger industrial and logistics …

March 31, 2025

Alabama Industrial Market Reports Southeast Southeast Market Reports

‘Clouds Are Clearing’ for Next Step of Birmingham’s Industrial Market

by John Nelson March 31, 2025

The Birmingham industrial market is poised for an increase in absorption as the apex of higher interest rates seem to be settling down, not to mention the post-election certainty that now favors business expansion. Corporate America is waking up and the clouds are clearing. For the past 24 months, the competitive set of investor-controlled warehouse space has been sitting on about 2 million square feet of inventory. About 550,000 square feet of that is still unleased speculative space in three different projects delivered at the back-end of the post-COVID development wave that did see about 700,000 square feet of absorption of new spec space before the music metaphorically stopped. Then came the 2023/2024 wave of the “new spec space,” a byproduct of the mentioned interest rates and COVID over-correction. Several second-generation spaces are now being marketed as companies vacated or downsized for various reasons. For example, discount retailer Dollar General is vacating an entire 307,000-square-foot warehouse. Broader, there have been two major announcements in Central Alabama for the closure of distribution centers, both as a result of retailers’ bankruptcies. JoAnn Fabric’s 700,000-square-foot distribution facility in Opelika at I-85 is now on the market as is the 1.2 million-square-foot former …

March 31, 2025

Development Industrial Texas

Rockefeller Group, Falcon Commercial Break Ground on 557,339 SF Industrial Project in Baytown, Texas

by Taylor Williams March 28, 2025

BAYTOWN, TEXAS — A partnership between New York City-based Rockefeller Group and Falcon Commercial Development has broken ground on East Bay Trade Center, a 557,339-square-foot industrial project in the eastern Houston suburb of Baytown. The development will consist of two cross-dock buildings totaling 307,595 square feet and 249,744 square feet on a 39-acre site. Building features will include 36-foot clear heights and a combined 121 dock doors, eight grade-level ramps and parking for 303 cars and 166 trailers. Munson & Associates designed the project, and FCL Builders is serving as the general contractor. Waneck Civil Engineering and Colliers are also part of the project team. Construction is slated for a fourth-quarter completion.

March 28, 2025

Industrial Leasing Activity Texas

Stream Realty Partners Negotiates 32,238 SF Industrial Lease in Southeast Houston

by Taylor Williams March 28, 2025

HOUSTON — Stream Realty Partners has negotiated a 32,238-square-foot industrial lease in southeast Houston. According to LoopNet Inc., the building at 8300 Telephone Road was constructed in 1981 and totals 107,025 square feet. Tyler Maner and William Carpenter of Stream represented the landlord, Birtcher Anderson Davis, in the lease negotiations. Amy Patterson with Clay & Co. represented the tenant, First Choice Fasteners.

March 28, 2025

Acquisitions Development Industrial New Jersey Northeast

CBRE Arranges Sale of 707,400 SF Industrial Development Site in Carneys Point, New Jersey

by Taylor Williams March 28, 2025

CARNEYS POINT, N.J. — CBRE has arranged the sale of a 707,400-square-foot industrial development site in Carneys Point, located along the Delaware River in Southern New Jersey. Known as Salem Commerce Park, the site is fully approved for the development of three buildings on three separate parcels, and the sale included a 10-acre tract that houses a 78,000-square-foot vacant office building. An affiliate of local developer D2 Organization sold the property to another local entity, EQT Exeter, for an undisclosed price. Brian Fiumara and Brad Ruppel of CBRE brokered the deal.

March 28, 2025

2155-E.-Columbus-Avenue-Springfield-Massachusetts

Development Industrial Massachusetts Northeast Self-Storage

Inland, Devon Complete 601-Unit Self-Storage Redevelopment Project in Springfield, Massachusetts

by Taylor Williams March 28, 2025

SPRINGFIELD, MASS. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 601-unit self-storage redevelopment project in the western Massachusetts city of Springfield. The project converted a historic former factory building in the downtown area into a facility with three interconnected buildings totaling 59,837 net rentable square feet of climate-controlled space. The facility also features drive-thru unit capability and a 24-hour security system.

March 28, 2025

Lincoln-Logistics-Rockland-Valley-Cottage-New-York

Industrial Leasing Activity New York Northeast

National Ramp Signs 109,450 SF Industrial Lease in Valley Cottage, New York

by Taylor Williams March 28, 2025

VALLEY COTTAGE, N.Y. — National Ramp has signed a 109,450-square-foot industrial lease in Valley Cottage, about 30 miles north of New York City. The space is located within Lincoln Logistics Rockland, a distribution facility that features a clear height of 36 feet, 34 dock doors and parking for 123 cars and 41 trailers. James Panczykowski of JLL and Adam Petrillo of Newmark represented the landlord, a partnership between Lincoln Equities and PCCP LLC, in the lease negotiations. National Ramp was self-represented.

March 28, 2025

Acquisitions Illinois Industrial Midwest

NAI Hiffman Negotiates $1.5M Sale of Industrial Outdoor Storage Property in Joliet, Illinois

by Kristin Harlow March 28, 2025

JOLIET, ILL. — NAI Hiffman has negotiated the $1.5 million sale of an industrial outdoor storage (IOS) property in Joliet. The 7-acre fenced and secured site at 18424 NW Frontage Road features an 11,000-square-fot repair facility with four repair bays and approximately 100 trailer parking positions. It is situated 15 miles north of the CenterPoint Intermodal facility — Noth America’s largest inland port — and near I-55 and I-80. NAI Hiffman’s Disser Team, comprising Kelly Disser, Mike Freitag, Bill Byrne and TJ Feeney, represented the seller. Both the buyer and seller were privately owned trucking companies.

March 28, 2025

Development Industrial Self-Storage Texas

SurePoint to Develop 687-Unit Self-Storage Facility in Humble, Texas

by Taylor Williams March 27, 2025

HUMBLE, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 687-unit self-storage facility in Humble, a northeastern suburb of Houston. The site is located at the intersection of Sam Houston Tollway and Mesa Drive at the entrance to Johnson Development’s Fall Creek master-planned community. CubeSmart will operate the new facility, which will comprise 120,000 net rentable square feet of climate- and non-climate-controlled space. The facility will also feature boat/RV storage space and 10,000 square feet of mini-offices. Construction is set to begin before the end of the year. A tentative completion date was not announced. SurePoint is also planning a 761-unit facility in Missouri City.

March 27, 2025

Industrial Leasing Activity Texas

Hilltop Stones Signs 121,795 SF Industrial Lease in Northwest Houston

by Taylor Williams March 27, 2025

HOUSTON — Hilltop Stones has signed a 121,795-square-foot industrial lease in northwest Houston. The manufacturer of granite, quartz and marble products is taking space at the building at 8760 Clay Road, which according to LoopNet Inc. was built in 1960 (renovated in 2010) and totals 356,953 square feet. Garret Geaccone and Boone Smith of Stream Realty Partners represented the landlord, DRA Advisors, in the lease negotiations. Wes Williams of Colliers represented the tenant.

March 27, 2025

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