GRAYSLAKE, ILL. — Peak Construction Corp. has broken ground on a 203,257-square-foot industrial expansion for OCM Inc. in Grayslake, about 40 miles north of downtown Chicago. Upon completion, OCM will occupy 337,208 square feet. The addition features a clear height of 30 feet, 10 dock doors, three drive-in doors and 115 car parking spaces. Completion is slated by the end of the year. Cornerstone Architects and Manhard Consulting make up the project team. OCM is a subsidiary of OKABE Co. Ltd., which was founded in 1917 in Japan as a full-service manufacturer and distributor of concrete construction supplies.
PATERSON, N.J. — Cushman & Wakefield has arranged a $22.5 million acquisition loan for a portfolio of two industrial properties totaling 192,000 square feet in the Northern New Jersey community of Paterson. The portfolio, which consists of a 102,000-square-foot building and a 90,000-square-foot building, features 26 dock-high doors, four drive-in doors, clear heights of 22 feet and 64 car parking spaces. GID Credit provided the loan to Eagle Cliff Real Estate Partners. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield originated the debt. The firm also represented the seller, Boston-based investment firm Marcus Partners, in the disposition of the portfolio, which was fully leased at the time of sale.
BIRMINGHAM, ALA. — Coca-Cola Bottling Co. United Inc. has announced plans to invest $330 million in the construction of a new office and warehouse facility located in the Kingston neighborhood of Birmingham. Coca-Cola United is a Birmingham-based bottler of Coca-Cola products, and the Coca-Cola Co. does not own any part of the company. Plans for the development include a 150,000-square-foot office complex and a 300,000-square-foot warehouse. The warehouse will feature a Vertique case picking system, which is designed to increase the efficiency of packing cases for order fulfillment. The facility will serve as the Birmingham Coca-Cola sales center, as well as Coca-Cola United’s corporate, Central region and North Alabama division headquarters. The property will also house the company’s Classic Food and Vending arm, customer solutions center and services department. A development timeline was not disclosed. Coca-Cola United purchased the development site in 2013. The land previously housed the Stockham Valves and Fittings plant, which closed in 1998. According to Alabama Gov. Kay Ivey, the project will create up to 50 new jobs and retain over 750 positions. “For over 120 years, Coca-Cola United has been a stand-out member of Birmingham’s business community,” says Ivey. “Coca-Cola United’s landmark growth project will create new …
PEARLAND, TEXAS — Locally based developer Levey Group has broken ground on a 660,000-square-foot industrial project located in the southern Houston suburb of Pearland. Levey Logistics Park will be situated on a 38-acre site near the intersection of South Sam Houston Parkway and Almeda School Road. The development’s two buildings will be able to support rear-load tenants with requirements of 16,500 square feet or more, as well as single-tenant cross-dock users with requirements up to 500,000 square feet. Harvey Builders is the general contractor for the project, which is slated for a second-quarter 2025 completion. Levey Group has tapped Cushman & Wakefield as the leasing agent.
GARNER, N.C. — Cushman & Wakefield has brokered two sales of three industrial properties spanning more than 260,000 square feet within Greenfield Business Park in Garner, about 10 miles south of Raleigh. The three properties include two newly constructed warehouses at 4101 and 4501 Waterfield Drive along with a third building at 600 S. Greenfield Parkway. Christopher Sheldon, Doug Longyear and Andy Bogardus of Cushman & Wakefield, along with Jimmy Barnes of NAI Tri Properties, represented the seller and developer, Wigeon Capital, in both sale transactions. Foxfield Investments purchased 4101 and 4501 Waterfield Drive for $19.8 million, and Wake County ABC Board, an owner/occupier, purchased the third building for $27.5 million. Acousti Engineering and Southern Staircase occupy 4101 Waterfield Drive, and The Macomb Group occupies 4501 Waterfield Drive.
CHANNELVIEW, TEXAS — National brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 56,248-square-foot industrial outdoor storage facility in Channelview, an eastern suburb of Houston. Locally based investment firm Triten Real Estate Partners acquired the 4.8-acre property from Alpha Omega & Equipment via a sale-leaseback for an undisclosed price. Murphy Sloan and Andrew Wiesemann of Matthews brokered the deal.
CHARLOTTE, N.C. — KBS has obtained a $38.4 million loan for the refinancing of Crossroads Distribution Center, a four-building industrial property in Charlotte spanning nearly 500,000 square feet. The park was developed between 1998 and 2007 along Granite Street. The property features 24- to 30-foot clear heights, 50-foot concrete aprons and truck courts that range from 110 to 140 feet, as well as a fitness center, tenant lounge, onsite car wash/detail and proximity to public transportation. Joe Donato led the Newmark team that arranged the financing on behalf of KBS. The direct lender was not disclosed.
DALLAS — Lee & Associates has negotiated a 50,000-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 4039 Rock Quarry Road was built in 2000 and spans 239,134 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The name and representative of the tenant were not disclosed.
CARNEYS POINT, N.J. — New York City-based Rockefeller Group has broken ground on an approximately 1.1 million-square-foot industrial project in Carneys Point, located across the Delaware River from Wilmington in Southern New Jersey. Rockefeller Group Logistics Center at Carneys Point will consist of two buildings, one totaling 596,443 square feet and the other spanning 530,000 square feet, on a 141-acre site. Building features will include clear heights of 40 feet and parking for 658 cars and 328 trailers. Sumitomo Mitsui Trust Bank provided $114.8 million in construction financing for the project, which is slated for an early 2025 delivery. M+H Architects designed the project, and FCL Builders is serving as the general contractor. CBRE has been tapped as the leasing agent.
NEWARK, N.J. — A partnership between Deugen Investment Group and Devli Real Estate has acquired a seven-acre industrial outdoor storage facility in Newark. According to LoopNet Inc., the facility at 449 Doremus Ave. was completed earlier this year and totals 30,000 square feet. The site formerly housed a cogeneration power plant, and the new ownership plans to renovate the interior and exterior of the existing structure and repave the site for trailer parking, outdoor storage and car parking uses. The seller was not disclosed.