Industrial

Parklane, Miramar Complete 1.2 MSF Southern Industrial Center in Buckeye, Arizona

by Amy Works October 31, 2023

BUCKEYE, ARIZ. — Parklane Development Group and Miramar Industrial Partners have completed the development of Southern Industrial Center, a 1.2 million-square-foot, speculative, Class A industrial project in Buckeye. Totaling 1.2 million square feet, Southern Industrial Center features 40-foot clear heights, 202 sectional overhead dock doors, four drive-through dock doors, reinforced speed bays and parking for 914 autos and 250 trailers. The project team included Graycor Construction Co., Ware Malcomb, DWS, Westpine Partners and Bank OZK. Marc Hertzberg, John Lydon and Kelly Royle of JLL’s Phoenix office are the exclusive leasing brokers.

October 31, 2023

Development Industrial Texas

L&F Distributors to Open 220,000 SF Industrial Facility in El Paso

by Taylor Williams October 31, 2023

EL PASO, TEXAS — L&F Distributors, a South Texas-based wholesaler of alcoholic beverages, will open a 220,000-square-foot industrial facility in El Paso. The facility will feature 32-foot clear heights, 26 loading docks and two levels of office space, and the site can support another 68,500 square feet of expansion. HDA Architects is designing the project, and Catamount Constructors is serving as the general contractor. Construction began earlier this month and is expected to be complete in 2025.

October 31, 2023

Acquisitions Illinois Industrial Midwest

Brit Properties Buys Three-Building Industrial Asset in Chicago for $13M

by Kristin Harlow October 31, 2023

CHICAGO — Brit Properties, a Chicago-based industrial real estate firm, has acquired Belmont Properties, a three-building industrial asset totaling 82,000 square feet on Chicago’s North Side. The purchase price was $13 million. The five-acre development is situated along the east bank of the Chicago River at Belmont Avenue. The Class B, single-tenant buildings were constructed between 1968 and 1991 and are fully leased to Tampico Beverages and Beverage Flavors International. Union National Bank of Elgin provided debt amounting to a 30 percent loan-to-value ratio. Nick Stellas of Hansen Realty represented Brit Properties, while Michael Milstead of Hansen Realty represented the seller, a family that had owned the property for 30 years.

October 31, 2023

Development Industrial Midwest Missouri

Keystone Construction Breaks Ground on 131,000 SF Industrial Headquarters for Tubular USA in Suburban St. Louis

by Kristin Harlow October 31, 2023

CHESTERFIELD, MO. — Keystone Construction Co. has broken ground on a 131,000-square-foot headquarters and manufacturing facility for Tubular USA in Chesterfield, a western suburb of St. Louis. Tubular is a supplier of in-line galvanized pipe and tubing. The project is located within Phase II of Spirit Valley Business Park. The new facility will replace Tubular’s two existing buildings in Weldon Spring, Mo. The project team includes Gray Design Group, Stock & Associates Consulting Engineers Inc. and Knapp Engineering. Completion is slated for June 2024. Keystone built the infrastructure for the first phase of the 50-acre Spirit Valley Business Park in 2008 and has since constructed 11 buildings within the business park.

October 31, 2023

Illinois Industrial Loans Midwest Self-Storage

Gantry Arranges $8M Loan for Refinancing of Self-Storage Facility in Chicago

by Kristin Harlow October 31, 2023

CHICAGO — Gantry has arranged an $8 million permanent loan to refinance existing debt on a self-storage facility in Chicago’s South Loop. The property at 605 S. Wabash Ave. was formerly a parking structure, but now encompasses 1,184 self-storage units across five stories and 95,000 square feet. The property is under new management, operating as Extra Space Storage. Andy Bratt and Sean Kuang of Gantry arranged the loan on behalf of the borrower, a private real estate investor. An insurance company provided the five-year, fixed-rate loan.

October 31, 2023

Development Industrial Massachusetts Northeast Self-Storage

Basis Industrial Delivers 806-Unit Self-Storage Facility in Plymouth, Massachusetts

by Taylor Williams October 31, 2023

PLYMOUTH, MASS. — Basis Industrial has delivered an 806-unit self-storage facility in Plymouth, located in southern Massachusetts at the base of Cape Cod. The three-story facility spans 111,000 gross square feet of climate-controlled space and was completed in phases, with construction beginning in March 2022. Basis Industrial has engaged Public Storage to operate the facility.

October 31, 2023

12-18-Vanderhoof-Ave.-Denville-New-Jersey

Development Industrial New Jersey Northeast

JLL Secures Joint Venture Equity for 119,250 SF Industrial Project in Denville, New Jersey

by Taylor Williams October 30, 2023

DENVILLE, N.J. — JLL has secured joint venture equity for a 119,250-square-foot industrial project that will be located in the Northern New Jersey community of Denville. The site at 12-18 Vanderhoof Ave. spans 19 acres, and the facility will offer a clear height of 36 feet, 18 loading bays, one drive-in door and parking for 52 cars and 13 trailers. Marc Duval, Jason Lundy, Jordan Avanzato, Nicholas Stefans and Jose Cruz of JLL worked on behalf of the sponsor, Cervenka Development Partners, to arrange the equity partnership with global investment manager Monocle Group.

October 30, 2023

Development Illinois Industrial Midwest

Principle Construction Underway on 100,000 SF Spec Warehouse in Mount Prospect, Illinois

by Kristin Harlow October 30, 2023

MOUNT PROSPECT, ILL. — Principle Construction is underway on a 100,000-square-foot speculative warehouse in the Chicago suburb of Mount Prospect. Stotan Industrial is the developer. The project at 350 N. Wolf Road will feature a clear height of 32 feet, two drive-in doors, 96 parking spaces, 28 trailer spaces and 12 docks. Principle demolished a former Comcast office building on the site that had sat vacant for some time. Completion of the new warehouse is slated for the end of November. Harris Architects is the project architect.

October 30, 2023

Acquisitions Industrial Southeast Virginia

IPA Brokers $19.9M Sale of Industrial Property in Woodbridge, Virginia

by John Nelson October 27, 2023

WOODBRIDGE, VA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $19.9 million sale of a two-building industrial property located at 15111 and 15151 Farm Creek Drive in Woodbridge, about 26 miles south of Washington, D.C. Built in 1986 on an 8-acre site within Featherstone Industrial Park, the 139,818-square-foot property was fully leased at the time of sale to Bekins A1 Storage Inc., a privately held moving and storage company. Robert Filley and Chandler Pace of IPA represented the seller and procured the buyer. Both parties requested anonymity.

October 27, 2023

Acquisitions Industrial Southeast Virginia

Matan Acquires Two New Industrial Facilities in Richmond Totaling 321,000 SF

by John Nelson October 27, 2023

RICHMOND, VA. — Matan Cos. has purchased two recently delivered, high-bay industrial facilities within Deepwater Industrial Park in Richmond. Located 2.2 miles from the Richmond Marine Terminal, the assets total 321,000 square feet and feature 36-foot clear heights, 52- by 52-foot bay spacing and visibility from I-95. Hourigan, in collaboration with DSC Partners, delivered the facilities earlier this year. The third building within Deepwater Industrial Park is fully leased to Lowe’s Home Improvement. Matan has tapped Charlie Polk, Gareth Jones and Chris Avellana of JLL to lease the newly acquired assets. Sue Caras, Drake Grier and Evan Parker of JLL arranged acquisition financing through Mesa West Capital. The sales price and loan amount were not disclosed.

October 27, 2023

Newer Posts

Older Posts

Upcoming Events

Aug
06