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Industrial

301-Crossroads-Blvd.-Logan-Township
IndustrialLeasing ActivityNew JerseyNortheast

Aramsco Inc. Signs 117,000 SF Industrial Lease in Logan Township, New Jersey

by Taylor Williams

LOGAN TOWNSHIP, N.J. — Aramsco Inc., a distributor of disaster recovery supplies, has signed a 117,000-square-foot industrial lease in Logan Township, located just southwest of Philadelphia. The space is located within Logan North, a seven-building, 3.2 million-square-foot development by Greek Real Estate Partners and Advance Realty Investors. Dean Torosian, Nate Demetsky, Matt Kemery and Paul Torosian of JLL represented ownership in the lease negotiations. Ryan Bowie of ICON Commercial, along with Colin Flynn, David Ricci and Brando Casalicchio from Flynn Cos., represented the tenant.

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3000-3010-E-La-Jolla-St-Anaheim-CA.
CaliforniaIndustrialMarket ReportsWesternWestern Market Reports

Orange County Industrial Sector Shows Stability Amid Tumultuous Market

by Jeff Shaw

— By Zach Middleton, senior associate, The Klabin Company/ CORFAC International — Last year brought significant change to the industrial sector across the country. Orange County was not immune to general market factors that were influenced by a sharp rise in interest rates, growing vacancy rates, shallowing tenant demand and increased supply. Fortunately, Orange County remains resilient heading into 2024 due to its prominent geography harbored by major distribution routes along the 5 and 91 freeways, as well as the county’s proximity to the ports.   Orange County also proudly showcases one of Southern California’s most diverse tenant pools. This is spearheaded by key sectors like technology and innovation, research, healthcare and biotechnology, manufacturing and aerospace, consumer goods, ecommerce, wholesale and distribution, underscoring its economic versatility and potential for sustained growth.  Market breakdown: vacancy rate uptick still below historical average Current vacancy rates across Orange County are as follows: • North County – 2.4% • West County – 4% • South County – 3.5% • Airport – 2.5% Vacancy rates have trended upward but remain below the historical average of 4 percent.  A growing number of cheaper sublease options and the slight uptick in vacancy rates have influenced direct deal …

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AcquisitionsIndustrialNorth CarolinaSoutheast

Equus Acquires Industrial Portfolio in North Carolina for $124M

by John Nelson

PHILADELPHIA — Philadelphia-based Equus Capital Partners has acquired an industrial portfolio in North Carolina totaling more than 1.4 million square feet. An Equus-sponsored value-added fund doing business as Equus Investment Partnership XII LP purchased the portfolio, which is situated in metro Charlotte and metro Greensboro, earlier this month for $124 million. The nine-building portfolio features buildings ranging from 38,480 to 382,668 square feet in size. The buildings were fully leased at the time of sale to tenants including FedEx, Lenovo and American Woodmark. Eight of the buildings are located in metro Charlotte and together total 1.2 million square feet, with the ninth building located in metro Greensboro spanning 241,050 square feet.

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DevelopmentIndustrialSouth CarolinaSoutheast

Crescent Communities Delivers 50,276 SF Industrial Facility in Metro Charlotte for Goodwill

by John Nelson

ROCK HILL, S.C. — Crescent Communities has completed the development of a 50,276-square-foot build-to-suit industrial facility located on Galleria Boulevard in Rock Hill, roughly 30 miles outside Charlotte. Goodwill Industries of the Southern Piedmont is the tenant. The warehouse, which is situated within the AXIAL Southgate 77 campus, features 32-foot clear heights, an ESFR sprinkler system, 53 dock-high loading doors, four pit levelers, two drive-in doors and 2,500 square feet of office space. AXIAL Southgate 77 totals 270,557 square feet, including a 220,281-square-foot warehouse that is scheduled for completion this May.

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AcquisitionsIndustrialNew JerseyNortheastSelf-Storage

Marcus & Millichap Brokers Sale of 322-Unit Self-Storage Facility in Phillipsburg, New Jersey

by Taylor Williams

PHILLIPSBURG, N.J. — Marcus & Millichap has brokered the sale of Access Self Storage, a 322-unit facility in Phillipsburg, located along the New Jersey-Pennsylvania border. The facility was built on a little less than a full acre in 2018 and comprises 18,074 net rentable square feet of climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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ConnecticutIndustrialLeasing ActivityNortheast

Broadband Technical Resources Signs 9,159 SF Industrial Lease in Monroe, Connecticut

by Taylor Williams

MONROE, CONN. — Broadband Technical Resources has signed a 9,159-square-foot industrial lease in Monroe, about 20 miles west of New Haven. According to LoopNet Inc., the 23,702-square-foot building at 580 Pepper St. was originally built in 1987 and renovated in 1997. Bruce Wettenstein of locally based brokerage firm Vidal/Wettenstein represented the tenant in the lease negotiations. Robert Malin Realty owns the building.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Negotiates Sales of Three Industrial Buildings in Suburban Chicago

by Kristin Harlow

ST. CHARLES AND WEST CHICAGO, ILL. — Lee & Associates has negotiated the sales of three industrial buildings in the Fox Valley submarket of suburban Chicago. In the first transaction, the brokerage firm’s Andrew Block and Michael Plumb represented HFI Manufacturing in its $7.3 million purchase of a 60,196-square-foot property located at 3925 Stern Ave. in St. Charles. The duo also represented HFI in the sale of its 48,130-square-foot building at 1100 Carolina Drive in West Chicago. HFI is expanding and needed a larger facility for its stainless-steel manufacturing operations. The buyer of 1100 Carolina Drive was Paclantic Naturals LLC. In the third transaction, Andrew Block and Nick Eboli of Lee & Associates represented Eaglestone in the sale of a 19,888-square-foot property located at 3705 Swenson Ave. in St. Charles. A private buyer purchased the facility for $2.1 million. Eaglestone, a manufacturer of conveyor systems for the food processing and packaging industries, has expanded its operations into a larger 85,000-square-foot building at 1560 Frontenac Road in nearby Naperville. Block and Eboli also assisted Eaglestone in securing the new location.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale of 56,254 SF Industrial Property in McHenry, Illinois

by Kristin Harlow

MCHENRY, ILL. — Entre Commercial Realty has brokered the sale of a 56,254-square-foot industrial building located at 4610 Prime Parkway in McHenry, about 50 miles northwest of Chicago. The property had been on the market for more than two years before the owner engaged Entre to evaluate and handle the sale. The building was extremely specialized as a prior owner had outfitted a significant portion of the interior with a two-story production mezzanine. According to Entre, it became evident that the layout was too specialized for most of today’s users in search of higher cube warehouse space, lower office ratios and extra land. Entre engaged with an architectural firm, structural engineer and construction company to evaluate the feasibility and cost to remove the partially structural mezzanine and restore the building to a more generic warehouse-type building that would meet today’s user demand. Entre identified that the property could be transformed back into a smaller 42,000-square-fot building with a two-acre land parcel for parking or outdoor storage. After the property was relaunched to the market, it sold to Viper Holdings, which provides scissors and boom lifts to the construction industry. Entre’s Dan Jones, Dan Benassi and Sam Deihs represented the undisclosed …

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200-Linus-Pauling-Dr-Hercules-CA
AcquisitionsCaliforniaIndustrialWestern

Multiple Organics Sells 49,805 SF Warehouse, Cold Storage Facility in Hercules, California

by Amy Works

HERCULES, CALIF. — Multiple Organics has completed the disposition of a warehouse and cold storage facility, located at 200 Linus Pauling Drive in the Bay Area city of Hercules. A Sutter Health entity acquired the asset for an undisclosed price. The 49,805-square-foot property features 7,700 square feet of office space, six dock doors, four grade-level doors, 22-foot clear heights, 2,000 amps of power and 8,000 square feet of cooler space. Kevin Hatcher and Austin Hinder of CBRE represented the seller in the transaction.

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

BWE Arranges $40.3M Construction Financing for Industrial Property in Metro Charleston

by John Nelson

MOUNT PLEASANT, S.C. — BWE has arranged a $40.3 million loan for the construction of Carolina Business Park, an industrial development in Mount Pleasant, roughly five miles outside downtown Charleston. Cameron Property Co. is the borrower and developer. Thomas Wiedeman and Alan Tapie of BWE secured the financing through a life insurance company on behalf of the borrower. Upon completion, the property will total 483,300 square feet across three buildings. The rear-load buildings, situated on 60 acres, will feature clear heights between 32 and 36 feet.

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