SAVANNAH, GA. — San Francisco-based AMB Property Corp. has broken ground on its first speculative building in the Savannah market, a 343,000-square-foot distribution facility that is designed to accommodate distribution companies with warehousing needs from 60,000 to 343,000 square feet. The property will be a rear-loading, tilt-wall, institutional grade facility with a 30-foot ceiling height. AMB has acquired 249 acres of land outside of Savannah for further industrial development.
Industrial
BUFFALO GROVE, ILL. — Des Plaines, Ill.-based Premier Design + Build Group has broken ground for the development of Aptakisic Creek Corporate Park, a 29-acre industrial park located at the corner of Aptakisic Road and Industrial Drive in Buffalo Grove. The project, which is being developed by Bridge Development Partners and McMorgan & Co. Investment Management, will consist of two speculative warehouse facilities. Building 1 will total 188,215 square feet and Building 2 will total 146,850 square feet. Both facilities will feature 30-foot clear ceiling heights, 16 exterior truck docks per facility, four drive-in doors per facility and ESFR sprinkler systems. Cornerstone Architects is serving as project architect. Completion is scheduled for next summer.
BROWNSTOWN, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged $10.5 million in financing for Brownstown IV and V, respective 220,000-square-foot and 60,000-square-foot industrial facilities located in Brownstown. The borrower is Ashley Brownstown North IV & V LLC, and the lender is TIAA CREF.
HOUSTON — PinPoint Commercial, a Houston-based development partnership, is developing Hobby Business Center, a 350-acre logistics and industrial park in Houston. The multi-modal distribution complex will handle rail and truck cargo. Southeastern Freight Lines and FedEx Ground have committed to the park, which is scheduled to complete the infrastructure by first quarter 2008. Build-to-suit and design build opportunities will be available from 20,000 square feet to 1 million square feet, but in general the buildings will feature tilt-wall construction with extended clear heights and truck aprons. Hobby Business Center will be located between Interstate 45, Beltway 8, Interstate 610, Highway 288 and Telephone Road. Amegy Bank is providing financing for the project.
DALLAS — Stamford, Conn.-based GE Real Estate has provided $49.7 million in financing to Addison, Texas-based Holt Lunsford Commercial for the acquisition of a 21-building industrial portfolio in Dallas. Located across four submarkets including northeast Dallas, Freeport, Highway 30 and Interstate 35, the portfolio consists of 1.15 million square feet. It is 85 percent leased to approximately 70 tenants. James Tramuto of CB Richard Ellis/Melody raised the capital, and Jack Fraker with CB Richard Ellis’ Dallas office represented the seller.
HAWTHORNE, CALIF. — Rexford Industrial LLC has acquired Yukon Industrial Center, a 123,174-square-foot, multi-tenant industrial property located at 13020 Yukon Ave. in Hawthorne, from 13020 Yukon LLC for $10.45 million. The property features two single-tenant buildings comprising 41,175 and 22,258 square feet, respectively, and a 59,741-square-foot multi-tenant building. Currently, the property is 100 percent occupied by Gentle Giant Moving Company, Ryan’s Express, Seatmax and Southern California Cuisine. ANR Asset Management represented both parties in the transaction.
DELAND, FLA. — Edwards Construction Services has begun construction on the $5.2 million, 62,870-square-foot manufacturing facility in DeLand for Intellitec Products, a supplier of specialty vehicle electronics. The facility will include 37,445 square feet of factory/industrial space, 6,415 square feet of office space, six loading docks, and 19,010 square feet of future expansion space. The project is slated for completion in February 2008, and is designed by Horton Harley Carter.
DENTON, TEXAS — Granite Properties is currently developing Phase I of Granite Point Business Park, a planned 1 million-square-foot industrial development located at the southwest corner of Interstate 35 East and 35 West in Denton. The first phase of the project comprises a 145,000-square-foot building and 152,200-square-foot building. Amenities will include 24-foot clear height, ESFR sprinklers, rear loading and office space.
MAITLAND, FLA. — Trevi Development will develop a 100,000-square-foot upscale retail and office center, located at Sybelia Parkway and U.S. Highway 17-92 in downtown Maitland that will also house the Maitland Fire Department. The four-story facility will include office space on the upper floors and upscale retail space and the Fire Department facilities on the ground floor. Trevi will begin construction in 2009 as part of the downtown Maitland redevelopment project that was recently approved by Maitland city commissioners.
DOWNERS GROVE, ILL. — Niles, Ill.-based Epic/Savage Realty Partners/TCN Worldwide has brokered the sale of a 39,200-square-foot industrial facility located at 2801 Centre Circle in Downers Grove. David Friedland of Epic/Savage represented the seller, Rossi Furniture, as well as the buyer, Cook Financial. The acquisition price was not disclosed.