Industrial

Friedman Brokers Sale of 29,918 SF Industrial Building in Sterling Heights, Michigan

by Kristin Harlow July 11, 2023

STERLING HEIGHTS, MICH. — Friedman Real Estate has brokered the sale of a 29,918-square-foot industrial building in Sterling Heights, a northern suburb of Detroit. The sales price was undisclosed. The property is located at 6255 Center Drive. Zach Cummings and Ryan Stipp of Friedman represented the seller, NSH USA, a manufacturer of specialized and multifunction machine tools and automation systems for railway, automotive, aerospace and other industrial manufacturers worldwide. The company will relocate to 6095 15 Mile Road in Sterling Heights. NSH USA maintains its headquarters in Albany, N.Y.

July 11, 2023

Mesa-Del-Sol-Innovation-Park-Mesa-Del-Sol-NM

Industrial Market Reports New Mexico Western Western Market Reports

Albuquerque’s Industrial Market Is Booming

by Jeff Shaw July 11, 2023

— By Will Strong, Executive Vice Chair, Industrial Capital Markets, Cushman & Wakefield — Albuquerque has emerged as a vibrant hub for industrial development, showcasing a thriving economy and a favorable business climate. With its strategic location, robust infrastructure and supportive policies, the city has become an attractive destination for ecommerce and logistics companies seeking growth and expansion. Situated in the heart of the Southwest, Albuquerque enjoys a prime location that serves as a gateway to various markets. It is conveniently connected to major transportation networks, including interstates 25 and 40, making it accessible for shipping goods across the region. The city is served by the Albuquerque International Sunport, facilitating efficientair freight and business travel. The market’s availability of reliable utilities, such as water, electricity and high-speed internet, further strengthens the city’s industrial ecosystem. The Albuquerque industrial market grew more than 300,000 square feet in the past year. Demand has been strong enough to continually outpace deliveries, enabling vacancies to tighten below the historical average, according to CoStar. Vacancies have fallen to just 2.4 percent, well below the national average of 4.5 percent. Albuquerque has a diversified base of industries, led by aerospace, high-tech manufacturing, distribution and logistics, technology and …

July 11, 2023

Acquisitions Georgia Self-Storage Southeast

Spartan Investment Group Acquires 515-Unit Self-Storage Facility in Macon, Georgia

by John Nelson July 10, 2023

MACON, GA. — Colorado-based Spartan Investment Group has purchased Max Storage, a 515-unit self-storage facility located at 1955 Dove St. in Macon. The seller and sales price were not disclosed. The buyer plans to rebrand the property to FreeUp Storage Macon Dove Street. The 10-building asset totals 66,705 rentable square feet, about a third of which is climate-controlled. The facility also features a 13,800-square-foot warehouse that Spartan plans to lease. The Macon facility is the 15th FreeUp property in Georgia and fourth in Macon.

July 10, 2023

Acquisitions Industrial Texas

Newmark Arranges Sale of 904,495 SF Industrial Property in Forney, Texas

by Taylor Williams July 7, 2023

FORNEY, TEXAS — Newmark has arranged the sale of Forney Logistics Crossing, a 904,495-square-foot industrial property located on the eastern outskirts of Dallas. Delivered in January, the cross-dock facility features 40-foot clear heights, 161 total dock doors and 198 trailer stalls (expandable to 352). Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Taylor Hare, Chloie Mercer and Caroline Wilson of Newmark represented the seller, a partnership between Stillwater Capital and Grandview Partners, in the transaction. The buyer was EQT Exeter. The property was fully leased at the time of sale to trucking company Knight-Swift.

July 7, 2023

Delaware Development Industrial Northeast

Agilent Technologies to Undertake $22M Expansion of Manufacturing Plant in Newport, Delaware

by Taylor Williams July 7, 2023

NEWPORT, DEL. — Agilent Technologies, a provider of lab instruments and software, will undertake a $22 million expansion of its manufacturing facility in Newport, located just outside of Wilmington. Agilent is leasing 12,000 square feet of new space in a building that is adjacent to the existing facility and fitting out 9,900 square feet as lab space with new infrastructure, equipment and instrumentation. Over half of the remaining square footage will become a warehouse, storage and shipping/receiving area. The remaining balance will be used for offices. Agilent currently employs more than 100 people at its Newport facility and more than 900 throughout Delaware.

July 7, 2023

Industrial Leasing Activity New York Northeast

Strides Pharma Signs 57,197 SF Industrial Lease in Pearl River, New York

by Taylor Williams July 7, 2023

PEARL RIVER, N.Y. — Strides Pharma Inc. has signed a 57,197-square-foot industrial lease in Pearl River, located along the New York-New Jersey-border. The Indian pharmaceutical manufacturer will occupy the entirety of two buildings within Hudson Valley iCampus, a 207-acre development. James Schroeder of JLL represented Strides Pharma in the lease negotiations. Robert Lella, Sheena Gohil and Charles Hatfield of Colliers, along with internal agent Jamie Schwartz, represented ownership.

July 7, 2023

Colorado Development Industrial Western

Saunders, NavPoint Complete Construction of Two Industrial Buildings in Castle Rock, Colorado

by Jeff Shaw July 7, 2023

CASTLE ROCK, COLO. — Saunders Development and NavPoint Real Estate Group have completed construction on two 80,000 square-foot industrial buildings in Castle Rock. The buildings, designed for distribution tenants, feature a ceiling height of 24 feet. Lakewood Electric and Colorado Powerline are the first tenants to operate from one of the buildings. Jeff Brandon and Charlie Davis of NavPoint Real Estate Group are handling the leasing of these two buildings.

July 7, 2023

Acquisitions Industrial Self-Storage Washington Western

Colliers Arranges Sale of 46,265 SF Self-Storage Property in Tacoma, Washington

by Jeff Shaw July 7, 2023

TACOMA, WASH. — Colliers has brokered the sale of a self-storage property located at 8233 S. Hosmer in Tacoma. Hosmer Self Storage LLC sold the property, spanning 46,265 square feet and consisting of 454 storage units, to Merit Hill Capital. The price was not disclosed. The facility offers a range of storage unit sizes, including drive-up units and options for indoor vehicle storage. The Colliers de Jong | Becher Self Storage Team represented the seller in the negotiation process.

July 7, 2023

Development Florida Industrial Southeast Top Stories

Saint-Gobain Plans $235M Expansion to CertainTeed Gypsum Facility in Palatka, Florida

by Jeff Shaw July 7, 2023

PALATKA, FLA. — Saint-Gobain North America has announced plans to invest $235 million to expand manufacturing space at its CertainTeed gypsum facility in Palatka, near the Port of Jacksonville on the St. Johns River in northern Florida. The Palatka facility, which currently employs more than 150 people, began operations in 2001. According to Saint-Gobain, the facility is one of the largest gypsum plants in the Southeast. The firm’s expansion project received more than $7 million in cash benefits and high-impact investment tax credits, including a State of Florida Capital Investment Tax Credit, a Career Source Florida Quick Response Training Grant, a grant from Putnam County and a Clay Cooperative Economic Development Rate. According to Saint-Gobain, the expansion will more than double the production capacity of the existing manufacturing plant, as well as create more than 100 new jobs. The investment will be made over the next two years through the firm’s building products subsidiary, CertainTeed Interior Products Group. In line with Saint-Gobain’s goal for carbon neutrality by 2050, the firm plans for sustainability to be an essential aspect of the project. The development will include the installation of new energy-saving equipment and automation technologies, including an energy board dryer that …

July 7, 2023

Industrial Leasing Activity Texas

Bradford Negotiates 13,000 SF Industrial Flex Lease in Irving

by Taylor Williams July 6, 2023

IRVING, TEXAS — Bradford Commercial Real Estate Services has negotiated a 13,000-square-foot industrial flex lease at Las Colinas Distribution Center 5 in Irving. The lease term is six years. Brian Pafford of Bradford represented the landlord, an entity doing business as Las Colinas AAA Investment LLC, in the lease negotiations. Chris Shilling of Minerva Realty Group represented the tenant, automotive maintenance and service provider Repairify.

July 6, 2023

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