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Industrial

AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale of 152,304 SF Logistics Facility in Streamwood, Illinois

by Kristin Harlow

STREAMWOOD, ILL. — Colliers has arranged the sale of a 152,304-square-foot logistics facility located just west of O’Hare International Airport in Streamwood. The sales price was undisclosed. Built on a speculative basis in 2020 by The Missner Group, the property at 800 Phoenix Lake Ave. features a clear height of 32 feet. The facility is fully leased to Pelton Sheperd Industries and ACME Furniture. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an institutional real estate advisor. The asset sold to an Atlanta-based institutional investor.  

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AcquisitionsGeorgiaIndustrialSoutheast

Scannell Properties Sells New Distribution Center in Savannah for $50.8M

by John Nelson

SAVANNAH, GA. — Scannell Properties has sold Rockingham Farms Building 10, a newly built, 413,230-square-foot bulk distribution center located at 101 Feldspar Drive in Savannah. DWS purchased the facility for $50.8 million. Britton Burdette, Dennis Mitchell, Matt Wirth and Jim Freeman of JLL represented Scannell Properties in the transaction. Situated within Rockingham Farms Logistics Park, the building is located approximately eight miles from the Port of Savannah’s Garden City Terminal. The Class A property was fully leased at the time of sale to two tenants and features 36-foot clear heights, two drive-in doors, 73 dock doors, a 185-foot truck court, 100 trailer spaces, 272 car parking spaces and rear-loading capabilities.

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DevelopmentIndustrialLeasing ActivitySoutheastVirginia

MacKenzie Signs US Cabinet Depot to 194,400 SF Industrial Lease in Richmond

by John Nelson

RICHMOND, VA. — MacKenzie Investment Group has signed Georgia-based U.S. Cabinet Depot, a supplier of kitchen and bathroom cabinetry, to a 194,400-square-foot industrial lease within North Richmond Industrial Park. The two-building park is located on a 75-acre site in Richmond and will ultimately span 550,000 square feet. The tenant will occupy space within Phase II of North Richmond Industrial Park, a 315,900-square-foot building at 12063 Washington Highway that is set to deliver this summer. Jimmy Appich and Muscoe Garnett of JLL represented MacKenzie in the lease negotiations, and Jason Hetherington, Brad Lowry and Doug Tice of CBRE represented U.S. Cabinet Depot.  

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Core30-Logistics-Center-Dallas
DevelopmentIndustrialTexas

Crow Holdings Breaks Ground on 511,000 SF Industrial Project in East Dallas

by Taylor Williams

DALLAS — Crow Holdings Development has broken ground on Core30 Logistics Center, a 511,000-square-foot industrial project in East Dallas. The site at 5323 Lawnview Ave. is located about five miles east of the downtown area, and the development will consist of a 300,347-square-foot cross-dock building and a 210,653-square-foot front-load building. Stream Realty Partners has been tapped as the leasing agent for the project, which is slated for a first-quarter 2025 delivery.

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AcquisitionsIndustrialTexas

NAI Robert Lynn Brokers Sale of 105,763 SF Warehouse in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — NAI Robert Lynn has brokered the sale of a 105,763-square-foot warehouse in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property at 1010 E. Avenue J was built on 8.2 acres in 1968, renovated in 2004 and features 16-foot clear heights and six dock-high loading doors. Michael Stanzel of NAI Robert Lynn represented the seller in the transaction. The buyer was a locally based limited liability company.

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555-E-Queen-Creek-Rd-Chandler-AZ
ArizonaIndustrialLoansWestern

CBRE Arranges $44M Refinancing for Queen Creek Commerce Center in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — CBRE has secured $44 million in refinancing for Queen Creek Commerce Center, an industrial complex at 555 E. Queen Creek Road in Chandler. Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE Capital Markets Debt and Structured Finance arranged the 10-year loan with a 5.47 percent interest rate and a 65 percent loan-to-value ratio on behalf of the borrower, Schnitzer Properties. A life insurance company provided the funding. Built in 2022 on 34.5 acres, Queen Creek Commerce Center consists of two industrial buildings featuring 32-foot clear heights, 18 grade-level doors and 122 dock-high doors. Totaling 560,352 square feet, the asset includes a 163,072-square-foot Building A and a 397,280-square-foot Building B. At the time of financing, the property was fully occupied.

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AcquisitionsIndustrialMidwestMinnesota

EQT Exeter Acquires 5 MSF Minneapolis Industrial Portfolio from Prologis

by Kristin Harlow

MINNEAPOLIS — EQT Exeter has acquired 20 industrial properties in metro Minneapolis from Prologis for an undisclosed price. EQT Exeter Industrial Value Fund VI was utilized for the acquisition. EQT Exeter plans to acquire an additional four properties by the final closing date. The portfolio consists of more than 5 million square feet and features a mix of bulk, light industrial and last-mile facilities with an average building size of more than 200,000 square feet. The buildings are located across four logistics submarkets and offer proximity to I-494 and I-694. The properties are 90 percent leased by 54 tenants, of which 20 percent are existing tenants within EQT Exeter’s portfolio. The entire transaction is expected to close in the second quarter. Josh McArtor and Caitlin Clinton of Eastdil Secured arranged the transaction with assistance from Michael Caprile and Jusdon Welliver of CBRE.

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DevelopmentIndustrialMidwestMissouri

Blue Bell Creameries Opens 16,000 SF Distribution Facility in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — Blue Bell Creameries has opened a new 16,000-square-foot distribution facility in St. Peters, a western suburb of St. Louis. Integrated Facility Services completed a design-build fire protection project to design, procure and install interior fire sprinkler systems for the building. The system protects water-sensitive areas, including the facility’s freezer and cold loading dock. Blue Bell ice cream is sold in 23 states.

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Middletown-Logistics-Center
AcquisitionsIndustrialNortheastPennsylvania

JLL Brokers Sale of 251,200 SF Industrial Property in Middletown, Pennsylvania

by Taylor Williams

MIDDLETOWN, PA. — JLL has brokered the sale of Middletown Logistics Center, a 251,200-square-foot industrial property located just south of Harrisburg. The property was built in 2021-2022 and features a clear height of 36 feet, an ESFR sprinkler system, 42 loading doors, one drive-in door and parking for 193 cars and 33 trailers. John Plower, Ryan Cottone, Zach Maguire and Jeff Lockard of JLL represented the seller, an affiliate of Endurance Real Estate Group, in the transaction and procured the buyer, a fund backed by Ares Management.

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DevelopmentHospitalityIndustrialMixed-UseMultifamilyNew JerseyNortheastRetailTop Stories

Clarion, MRP Industrial Break Ground on Final Phase of Burlington Center Mall Redevelopment in New Jersey

by John Nelson

BURLINGTON TOWNSHIP, N.J. — A partnership between industrial development firms Clarion Partners and MRP Industrial has started construction on the final phase of The Crossings, a redevelopment of the former Burlington Center mall located in the Philadelphia suburb of Burlington Township. The last phase comprises 500 multifamily units, including affordable housing options, that are set to open in late 2025. The new apartments will cap a six-year effort by Clarion Partners and MRP to transform the 800,000-square-foot enclosed regional mall into a mixed-use destination. In addition to the planned multifamily component, The Crossings will feature more than 2.5 million square feet of warehouse and distribution space, approximately 135,000 square feet of retail space and a 153-room hotel at full build-out. Clarion Partners and MRP expect The Crossings to support 1,400 new jobs at full capacity, including 900 in the warehouse sector and 500 in retail and hospitality. Moonbeam Capital Investments, the Las Vegas-based owner of the former Burlington Center mall, assisted in the redevelopment efforts. “The Crossings was made possible by the cooperation of Burlington Township and County elected officials, who recognized the opportunity to transform a blighted shopping mall into an integrated, vibrant and economically viable mixed-use development that …

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