Industrial

New Goodyear Industrial Development Targets Fortune 100 Tenants

by Jeff Shaw February 20, 2024

DIV Industrial has seen the demand, and is delivering for Fortune 100 tenants that need to be accommodated in the Phoenix market. The Irvine, Calif.-based investor and developer just closed on 47 acres in Goodyear that will soon serve as the home of Sarival Business Park, a 847,988-square-foot, Class A industrial complex. At completion, the modern, LEED-certified business park will include five free-standing buildings ranging from 135,000 square feet to 235,000 square feet. This transaction marks DIV’s first foray into the Phoenix market. Nicholas Ilagan, the firm’s co-founder and managing partner, notes there were many attributes that attracted him to this region. “The Phoenix MSA continues to be one of the fastest-growing metros in the country,” he says. “The region is propelled by its established infrastructure, business-friendly approach, educated workforce, and accessibility to Southern California’s port markets and the Western U.S. population. Phoenix is attracting large corporations and Fortune 500 companies that are relocating or setting up new, efficient operations, such as data centers, distribution facilities and manufacturing operations.” This includes Taiwan Semiconductor Manufacturing Company, which Ilagan notes has had a “huge boost to the local economy and stimulated employment growth.” Goodyear has also drawn in larger regional and national …

February 20, 2024

Development Florida Industrial Leasing Activity Southeast

RoadOne IntermodaLogistics Leases Full 422,136 SF Industrial Building in Jacksonville

by John Nelson February 19, 2024

JACKSONVILLE, FLA. — RoadOne IntermodaLogistics has signed a 422,136-square-foot industrial lease at 1000 Imeson Park Blvd. in Jacksonville. A joint venture between North Signal Capital and an affiliate of Fox Capital Partners, doing business as JAX-IMESON JV LLC, is the landlord. Luke Pope of JLL represented the landlord in the lease negotiations. The tenant will fully occupy the property, which features tilt-up concrete construction, 36-foot clear heights, an ESFR sprinkler systems, LED lighting, 216 car parking spaces, 180 trailer parking spaces and two drive-in doors. RoadOne plans to implement improvements at the facility, including the addition of dock levelers to each of the 81 dock-high doors, fencing around the entire site, a guard shack and a 100,000-square-foot climate-controlled section. RoadOne is operating in the warehouse throughout the construction, which is scheduled for completion later this year.

February 19, 2024

Acquisitions Industrial Texas

JLL Arranges Sale of 411,460 SF Industrial Facility in Northwest Houston

by Taylor Williams February 19, 2024

HOUSTON — JLL has arranged the sale of Northwest Logistics Center, a 411,460-square-foot industrial facility in northwest Houston. The cross-dock building was constructed in 2018 and features 138 dock doors and 32-foot clear heights. Trent Agnew, Charlie Strauss, Parker McCormack, Tom Weber, Lance Young, Pauli Kerr, Matthew Barge and Brooke Petzold of JLL represented the undisclosed seller in the transaction and procured the buyer, New York City-based Sterling Investors.

February 19, 2024

Industrial Leasing Activity Texas

Total Specialty Services Signs 13,000 SF Industrial Lease in Metro Houston

by Taylor Williams February 19, 2024

BAYTOWN, TEXAS — Total Specialty Services, a provider of infrastructural services to industrial project sites, has signed a 13,000-square-foot industrial lease in the eastern Houston suburb of Baytown. Austen Buckalew of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Tyler Maner and Davis Lamberton of Stream Realty Partners represented the landlord.

February 19, 2024

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 354-Unit Self-Storage Facility in Waterloo, New York

by Taylor Williams February 19, 2024

WATERLOO, N.Y. — Marcus & Millichap has brokered the sale of Finger Lakes Self Storage, a 354-unit facility in the upstate New York community of Waterloo. Built in 2014, the facility consists of 34 climate-controlled units, 296 non-climate-controlled units and 24 covered parking spaces for a total of 58,250 net rentable square feet. Nathan Coe, Brett Hatcher, Gabriel Coe and Luke Dawley of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

February 19, 2024

Acquisitions Arizona Industrial Western

Edgewood REIT Buys 25,393 SF Industrial Building in Phoenix from Alliance Plumbing in Sale-Leaseback Transaction

by Amy Works February 19, 2024

PHOENIX — Arizona-based Alliance Plumbing Service and Repair has completed the sale-leaseback of an industrial building located at 2626 E. Elwood St. in central Phoenix. Edgewood REIT acquired the asset for $6.4 million. Built in 2019, the property features a 25,393-square-foot building on a C-2-zoned lot and a secured yard with electrical gate for equipment and trucks. Alliance Plumbing has leased the property for 12 years. Brian Ackerman of Colliers in Arizona handled the transaction and assisted in structuring the lease for Alliance Plumbing. Edgewood REIT is a North Dakota-based REIT that was founded in 2010.

February 19, 2024

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Raleigh-Durham’s Industrial Market Continues Ascent Into 2024

by John Nelson February 19, 2024

By Derek Jacobs of Avison Young Through the financial uncertainty and confusion of the past four years, Raleigh-Durham has stood out as an exemplary industrial market that has strengthened in economic diversity and stability despite greater national and global market trends and challenges. The outlook for Raleigh-Durham is very positive thanks to local and state governments that support business, an excellent central East Coast location and a market environment where industrial demand heavily outweighs supply. Triple-net rents in Raleigh-Durham grew by nearly 39 percent since first-quarter 2020, while total vacancy has remained below 4 percent. The most affordable Class C product has an exceptionally low vacancy rate of 2.7 percent due to lower rent costs outweighing the opportunity costs of moving into a nicer, newer building that will be more expensive in most cases. The newest and most costly Class A industrial product in Raleigh-Durham has also shown strong demand, with a vacancy rate (5.7 percent) lower than the vacancy rate for all industrial product classes combined across the country (6.1 percent). Industrial occupiers and residents in Raleigh-Durham work, do business in various industries and provide services that supply further market growth. Around half of the industrial property in Raleigh-Durham …

February 19, 2024

Industrial Leasing Activity Texas

Oxford Partners Negotiates 12,000 SF Industrial Lease Renewal in Magnolia, Texas

by Taylor Williams February 16, 2024

MAGNOLIA, TEXAS — Locally based brokerage firm Oxford Partners has negotiated a 12,000-square-foot industrial lease renewal in Magnolia, a northwestern suburb of Houston. According to LoopNet Inc., the building at 327 Magnolia Business Park Drive was built in 2003 and spans 17,145 square feet. Jeffery Arnaud of Oxford Partners represented the tenant, J2 Fabrication, in the lease negotiations. The landlord was not disclosed.

February 16, 2024

Industrial Leasing Activity Texas

Buyers Barricades Signs 7,200 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams February 16, 2024

FORT WORTH, TEXAS — Construction equipment supplier Buyers Barricades has signed a 7,200-square-foot industrial lease renewal at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s east side. William Wilson and George Jennings with Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant was not disclosed.

February 16, 2024

Development Industrial New Jersey Northeast

Lee & Associates Secures 478,000 SF Industrial Lease in Burlington, New Jersey

by Taylor Williams February 16, 2024

BURLINGTON, N.J. — Lee & Associates has secured a 478,000-square-foot industrial lease in the Southern New Jersey city of Burlington. The tenant is an undisclosed, international logistics company that will occupy the entirety of the building at 1620 River Road, which is located within Burlington Industrial Park. According to LoopNet Inc., the building was constructed in 2016 and features a clear height of 36 feet, 96 dock doors, four drive-in doors, 5,000 square feet of office space and parking for 179 cars and 72 trailers. Drew Maffey, Rick Marchisio and Michael Lee of Lee & Associates represented the tenant in the lease negotiations. Nate Demetsky of JLL represented the landlord.

February 16, 2024

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