ENFIELD, CONN. — Regional developer WinStanley Enterprises has acquired a 135-acre industrial development site in Enfield, located near the Connecticut-Massachusetts border. The site is fully approved for the development of a two-building, 600,000-square-foot complex that will be known as Metro Park North. Specifically, the development will feature a 500,225-square-foot distribution facility and a 100,125-square-foot flex building. WinStanley expects to start construction in early to mid-2024, contingent upon securing tenant interest. Phil Gagnon and Nick Morizio of Colliers represented the seller and buyer in the land deal. Colliers will also handle leasing of the development.
SIDNEY, OHIO — NK Parts has acquired the former Norcold headquarters facility at 600 Kuther Road in Sidney, about 40 miles north of Dayton. The purchase price was $6.5 million. Sidney-based NK Parts currently occupies a 785,000-square-foot facility at 777 Kuther Road. Specializing in logistics and supply chain management, NK caters specifically to the automotive industry. The additional 205,000 square feet from the Norcold building will alleviate some of NK’s space constraints and enable them to better serve their clients, according to Industrial Property Brokers, which brokered the deal. NK plans to make improvements to the electrical system and parts of the roof that require replacement. The tenant expects to take occupancy in November. Tim Echemann and Conrad Echemann of Industrial Property Brokers represented NK in the transaction. “The opportunity for NK to acquire a 205,000-square-foot building right across the street from its existing operations is nothing short of incredible,” says Tim Echemann. “This expansion couldn’t have come at a better time, especially considering the escalating demands from NK’s customers for more space.”
LAKE ZURICH, ILL. — PREMIER Design + Build Group has completed an 88,000-square-foot headquarters facility for Alpha Tekniko in Lake Zurich, a northwest suburb of Chicago. Alpha Tekniko is a contract manufacturer serving the healthcare industry. The firm designs, develops and produces sophisticated support surfaces, including high-tech mattresses, cushions and pads to fit an array of medical equipment like hospital beds, operating room tables and wheelchairs. The company launched in 2008 and continued to outgrow its spaces. In March 2022, the founders purchased land at 1400 Rose Road in Lake Zurich and selected PREMIER to manage design and build services for a permanent home. Construction began in October 2022. The new facility is primarily designed for manufacturing operations with some additional space devoted to offices. The building features eight dock positions and two drive-in doors. The new headquarters is fully solar powered with 444 solar panels. Additional sustainable features include high-efficiency rooftop HVAC units, high R-value precast concrete panels that increase insulating effectiveness, special emissions towers for air purification, motion-sensitive lighting and VOC-free paints. Project partners included Cornerstone Architects Ltd. and civil engineer SpaceCo.
HUNTERSVILLE, N.C. — Trinity Capital Advisors has sold Interchange Logistics, a 224,979-square-foot industrial facility located in Huntersville, a city in Charlotte’s metro area. Clarion Partners purchased the asset from Trinity Capital for an undisclosed price. Orbus Holdings, operating as SEG Systems, signed a lease to fully occupy the facility in January while it was still under construction. Located at Hambright and Mt. Holly Huntersville roads, Interchange Logistics features 36-foot clear heights and 54 dock doors. The project team includes general contractor Edifice and architect Merriman Schmitt Architects. Trinity Capital broke ground on the development in February 2022.
— By Ted Evans — The white hot, logistic-based real estate market in Southern California has cooled off. This is due to a combination of factors, including the end of COVID-based buying. Labor disputes, interest rate hikes and slower absorption rates are pushing business back to normal in a Western market segment supported by strong fundamentals. Returning to Normal As the crazed days of pandemic-induced buying slip into the past, we are seeing vacancy levels returning to pre-pandemic conditions. This may not be what some real estate investors want to hear, but the supply chain is certainly not as constricted as it was two years ago. The days of ordering products that were unavailable for weeks or months are over. The numbers we’re seeing back up our on-the-ground assessments. According to Savills, the warehouse vacancy rate in the logistics-heavy Inland Empire jumped to 3.8 percent in the second quarter. This was compared to 1.2 percent a year earlier, which was largely driven by reduced tenant demand over this period. The national vacancy rate for the sector clocks in at 4.7 percent, proving that the logistic sun is still shining in California. However, the increased vacancy rate is also …
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Site Design Science: How Understanding Operations Draws Pharmaceutical Manufacturers
Pharmaceutical companies have captured the interest of many developers and with good reason. Softening demand for traditional office space has planners looking for alternative uses to fill out business parks and multiuse developments, and drug makers represent a promising source of highly valuable occupancy. Speculative construction that accelerated during the pandemic has given pharmaceutical manufacturers plenty of options and enabled them to be choosy in site selection. However, to compete for end users, developers must ensure their properties offer the features and amenities drug makers seek, says Matt Mrva, northeast director of planning and landscape architecture at Bohler, a land development consulting and site design firm. “Simply adding a life sciences label on conventional flex space is unlikely to lure pharma companies. Research, lab and pharmaceutical manufacturing facilities often require specialized infrastructure and site layouts,” Mrva says. “Even if a property is zoned to allow for life sciences, design and development teams need to understand the proposed operations in order to optimize the facility.” Unique Facility Requirements Depending on anticipated needs, tenants may require advanced climate control and ventilation, redundant electrical feeds, high-volume water and sewer service, on-site wastewater pretreatment, backup power generation, reinforced floors to handle the weight of …
HOUSTON — Lecangs, a third-party logistics company and subsidiary of Loctek, has signed a 133,000-square-foot industrial lease in southwest Houston. The tenant is taking space at The Business Center at Five Corners, a five-building, 550,000-square-foot development by Levey Group. Joseph Smith, Nathan Wynne and Savannah Smith of CBRE represented Levey Group in the lease negotiations. Lecangs was self-represented. The Business Center at Five Corners is now fully leased.
HOUSTON — Gauge Real Estate Partners has broken ground on Gauge Interwood Logistics, a 95,886-square-foot industrial project in Houston. The site spans seven acres within the 440-acre Interwood Business Park on the city’s north side. The standalone, rear-load facility will feature 32-foot clear heights, 180-foot truck court depths, 19 trailer stalls and an ESFR sprinkler system. Powers Brown Architecture designed the project, and Rosenberger Construction is serving as the general contractor. Delivery is slated for early 2024.
HOUSTON — Locally based brokerage firm Cypressbrook Co. has negotiated an 18,502-square-foot industrial and office lease in northeast Houston. According to LoopNet Inc., the property at 9364 Wallisville Road was built in 1980 and totals 48,000 square feet. John Hornbuckle of Cypressbrook represented the tenant, third-party logistics firm EN Group Corp., in the lease negotiations. John Kruse and Carter Holmes of Cushman & Wakefield represented the landlord.
CARTERET, N.J. — Weida Freight System, a third-party logistics firm based in Hong Kong, has signed a 188,000-square-foot industrial lease in the Northern New Jersey community of Carteret. Weida Freight is taking space at Crow Holdings at Carteret, a newly built, 1.2 million-square-foot development. Jules Nissim, Stan Danzig and Kimberly Bach of Cushman & Wakefield represented the landlord, Crow Holdings, in the lease negotiations. Jimo Liu of Avison Young represented the tenant.