Industrial

Saed Investments Sells 160,561 SF Industrial Property in Temecula, California

by Amy Works August 28, 2023

TEMECULA, CALIF. — Saed Investments has completed the disposition of an industrial facility located at 43195 Business Park Drive in Temecula. Brennan Investment Group acquired the asset for an undisclosed price. Situated on 11.5 acres, the 160,561-square-foot building features a secure fenced yard, ample outdoor space, 4,000 amps at 480 volts, 15,000 square feet of office space and an additional 15,000 square feet of HVAC production area. Additionally, the facility offers 246 parking spaces, eight docks and three grade-level doors. Kelly Nicholls and Zack Martinez of Lee & Associates represented the seller in the deal.

August 28, 2023

Illinois Industrial Leasing Activity Midwest

Meeting Tomorrow Inks 20,300 SF Industrial Lease in Chicago

by Kristin Harlow August 28, 2023

CHICAGO — Meeting Tomorrow, an audiovisual equipment rental company, has signed a lease for a 20,300-square-foot warehouse located at 4848 W. Lawrence Ave. in Chicago. Marc Hale and Ali Nix of DarwinPW Realty/CORFAC International represented the undisclosed landlord. Constructed in 1962, the building has been well-maintained and is furnished with racking and office furniture. It features one dock door and two drive-in doors.

August 28, 2023

Acquisitions Georgia Industrial Southeast

Ackerman & Co. Acquires 395,269 SF Industrial Property in Atlanta

by Hayden Spiess August 25, 2023

ATLANTA — Ackerman & Co. has completed the acquisition of a 395,269-square-foot industrial property adjacent to Hartsfield-Jackson Atlanta International Airport. Situated at 4099 Old Dixie Highway in Atlanta, the property comprises two distribution facilities within the three-building Henry Ford Distribution Center. Building 1 totals 165,365 square feet, and Building 2 spans 229,904 square feet. Tenants at the facilities, which were fully leased at the time of sale, include Delta Air Lines, Morrison Express, Aviation Inflatables, Restoration Sleep, Tara Plastics and Mile Marker Logistics. The seller and sales price were not disclosed.

August 25, 2023

Development Florida Industrial Property Type Southeast

Miller Construction Underway on 80,000 SF Warehouse in Orlando

by Hayden Spiess August 25, 2023

ORLANDO, FLA. — Miller Construction is underway on the site work for an 80,000-square-foot warehouse at 2140 N. John Young Parkway in Orlando. Miller is completing the $8.3 million project on behalf of MSI, a California-based flooring, countertop, wall, tile and hardscaping supplier that will utilize the property for the company’s storage and distribution needs in the Southeast. Upon completion, which is scheduled for the first half of 2024, the warehouse will feature 25 columns with 50-foot by 54-foot spacing, 29 parking spots, 13 dock doors, full warehouse lighting, exhaust fans and louvers. Additionally, the facility will include four private offices and one 9,500-square-foot open office space. The project team includes Elven18 Architecture, Construction Engineering Group, Gutherman Structural Inc. and NV5.

August 25, 2023

Industrial Leasing Activity Texas

JLL Negotiates 523,260 SF Industrial Lease at DFW Park 161 in Irving

by Taylor Williams August 25, 2023

IRVING, TEXAS — JLL has negotiated a 523,260-square-foot industrial lease at DFW Park 161, a 197-acre development in Irving. The tenant, auto parts provider LKQ, will space at Logistics Center 12, a 707,940-square-foot building that features 40-foot clear heights, 60-foot loading bays and 190-foot truck court depths. Kurt Griffin and Nathan Orbin of JLL represented the landlord, a joint venture between Dallas-based Perot Development Co. and Atlanta-based Invesco Real Estate, in the lease negotiations. Jacob Bobek and Tim Vogds of CBRE represented LKQ.

August 25, 2023

Development Industrial Texas

Greystar Breaks Ground on 314,938 SF Industrial Project in San Marcos, Texas

by Taylor Williams August 25, 2023

SAN MARCOS, TEXAS — South Carolina-based developer Greystar has broken ground on a 314,938-square-foot industrial project in San Marcos, located roughly midway between Austin and San Antonio. The three-building project represents Phase II of Whisper 35, a five-building, 494,926-square-foot development. Completion of Phase II is slated for early 2024. Sam Owen and Adam Green of Stream Realty Partners, the leasing agents for Whisper 35, also recently secured a lease with logistics company Manifest Commerce to bring Phase I to full occupancy.

August 25, 2023

Industrial Leasing Activity Texas

MHC Truck Leasing Signs 20,020 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams August 25, 2023

GRAND PRAIRIE, TEXAS — MHC Truck Leasing has signed a 20,020-square-foot industrial lease at 2626 W. Pioneer Parkway in Grand Prairie, located in the central part of the metroplex. The site spans 5.2 acres, and the building was completed in 2022, according to LoopNet Inc. Jarrett Huge and Alex Wilson of Lee & Associates represented tenant and the landlord, an entity doing business as Abdalla 2816 Pioneer LLC, in the lease negotiations.

August 25, 2023

CapRock-Central-Point-III-Buliding-1-Visalia-CA

California Development Industrial Western

CapRock Partners Breaks Ground on 1.27 MSF Industrial Warehouse in Visalia, California

by Amy Works August 25, 2023

VISALIA, CALIF. — CapRock Partners has broken ground on Building 1 at CapRock Central Point III, a 2.7 million-square-foot speculative industrial complex in the San Joaquin Valley city of Visalia. Upon completion in third-quarter 2024, Building 1 will add 1.27 million square feet of Class A logistics and distribution space to the Central Valley. Situated on 75 acres, the cross-dock Building 1 warehouse will feature 40-foot clear heights, 274 dock-high doors and two ground-level doors. Additionally, the facility will include 6,600 square feet of office space, ample power, ESFR sprinklers, 890 auto parking stalls, a fully secured fenced yard, drive-around access, a truck court depth of 185 feet, dedicated truck circulation and 542 excess trailer parking spaces. Located at 4001 N. Plaza Drive, the four-building CapRock Central Point III offers tenants the ability to reach more than 50 million customers with one-day ground shipping. Designs for CapRock Central Point III’s Buildings 2, 3 and 4 are complete and approved. CapRock plans to seek LEED certification for the project.

August 25, 2023

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Brokers $9.9M Sale of Industrial Building in Mattapoisett, Massachusetts

by Taylor Williams August 25, 2023

MATTAPOISETT, MASS. — Marcus & Millichap has brokered the $9.9 million sale of a 147,444-square-foot vacant industrial building in Mattapoisett, located in Plymouth County in the southern part of The Bay State. The building was constructed on 10.6 acres, a portion of which was sold separately at the time of closing, in 1985. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

August 25, 2023

7402-7410-SE-Johnson-Creek-Blvd-Portland-OR

Industrial Market Reports Oregon Western Western Market Reports

Portland’s Industrial Market Maintains the Balance

by Jeff Shaw August 25, 2023

— By Kenny Houser and Mike Hale, Principals, Capacity Commercial — The industrial real estate sector has experienced a noticeable deceleration with a decline in leasing and sales activities. This trend is particularly evident in Portland where commercial property sales transactions have been steadily decreasing. There was a quarter-over-quarter decline of almost 29 percent in the second quarter of 2023, resulting in a sales volume of $3.4 billion, the lowest recorded since late 2014. The Federal Reserve’s decision to pause its rate hike campaign in response to inflation concerns has impacted the market. With borrowing costs fluctuating, the disparity between buyer and seller expectations has created challenges in determining agreeable property valuations. Simultaneously, leasing activity has also slowed, indicating a return to normalcy in Portland’s industrial market. Total deal volume in the first quarter of this year reached about 1.7 million square feet, a 35 percent decrease compared to the average of 2.6 million square feet per quarter over the previous two years. Despite the slowdown in leasing, the limited amount of industrial space under construction in Portland is expected to maintain a balance between supply and demand. The current construction activity accounts for 1.1 percent of the total inventory, …

August 25, 2023

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