Industrial

For industrial developers and owners, Kansas City is an easy sales pitch right now.  “Two years ago, we had to scrounge around [for capital partners] trying to get phone calls returned. Now, they’re calling us saying they’re ready to see what we’ve got,” said Nick Cook, a development manager with Panattoni Development Co. “You’re always trying to sell a story to these folks. And Kansas City is a pretty easy one to sell right now. When it comes to speculative development, we’re feeling bullish.”  Cook’s remarks came during the developers, owners and investors panel at the InterFace Kansas City Industrial conference, which took place Tuesday, Aug. 18 at the Intercontinental Kansas City at the Plaza. Robert Ciston, a senior principal with BRR Architecture, moderated the discussion.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Fellow panelist Grant Harrison, executive vice president of development with VanTrust Real Estate, also expressed a bullish mindset on Kansas City and said he wants to get in front of the next wave of development. In contrast, there are some markets where Harrison does not …

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InterFace-Houston-Industrial-Design-Construction-Panel

By Taylor Williams New development within the Houston industrial market is increasingly skewing toward data centers and advanced manufacturing projects, creating new hurdles for architectural, engineering and contracting (AEC) teams to overcome in terms of labor and timing. At the annual InterFace Houston Industrial conference that took place in late August at The Briar Club and was attended by more than 200 industry professionals, Jason Cooper, president at Houston-based general contractor Arch-Con Corp., immediately cited both of these issues when asked about the biggest challenges the industry faces today. Braylie Manson, business development associate in the Houston office of Texas-based engineering firm Dunaway, moderated the conference’s design and construction panel. “The most difficult thing of the past year, excluding the past month or so, has been getting highly qualified subcontractors on board that can keep the schedules that are expected,” said Cooper. “Schedules keep accelerating; we have to turn these projects over faster and faster, so [as general contractors], we have to be very selective about which subcontractors we use to avoid delays.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about …

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UPPER MARLBORO, MD. — Cushman & Wakefield has negotiated the $56.6 million sale of a 202,976-square-foot industrial facility located at 8511 Pepco Place in Upper Marlboro, a suburb of Washington, D.C., in Prince George’s County. Stockbridge acquired the property from TA Realty. Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check of Cushman & Wakefield represented TA Realty in the transaction. The facility features a 190-foot truck court, 26 dock doors, two drive-in doors, 218 parking spaces and approximately 75 trailer positions. The property is fully leased to Harris Co., a mechanical contractor for the data center industry. The tenant also occupies 75,000 square feet at the neighboring 8520 Pepco Place.

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Kyle-Technology-Park

KYLE, TEXAS — General contractor Cadence McShane has completed a 75,000-square-foot industrial project in Kyle, a southern suburb of Austin. Designed by Studio 8 Architects and developed by TIG Real Estate Services, the project represents Phase I of a41-acre development known as Kyle Technology Park and consists of three 25,000-square-foot buildings. The buildings feature 35-foot clear heights and were designed to accommodate multiple users. Kyle Technology Park is ultimately planned to encompass 11 buildings totaling approximately 300,000 square feet.

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FORT WORTH, TEXAS — Neveon USA, a provider of upholstery, foam and insulation products, has signed a 59,000-square-foot industrial lease renewal and expansion in northeast Fort Worth. The space is located within Riverbend Business Park, a 32-building, 1.4 million-square-foot development. Grayson Fleitz and Matt Carthey of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. The tenant representative was not disclosed, but Newmark represented Neveon in its previous lease for 50,000 square feet at the property in 2023.

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MEDFORD, N.Y. — JLL has arranged $75 million in financing for Rechler Business District, a master-planned industrial business park in Medford, located on Long Island. Rechler Business District encompasses a newly constructed, 140,875-square-foot logistics facility that is fully leased, 9.8 acres of industrial outdoor storage (IOS) space that are also fully leased and approximately 45 acres of shovel-ready land. Peter Rotchford and Tyler Peck of JLL arranged the financing through AllianceBernstein on behalf of the owner, Rechler Equity Partners.

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TURTLECREEK TOWNSHIP, OHIO — Walmart Inc. plans to invest more than $300 million in a new fulfillment center in Turtlecreek Township within metro Cincinnati, creating more than 300 new jobs. REDI Cincinnati, in partnership with JobsOhio, announced the project following Walmart’s purchase of nearly 100 acres in Warren County. The new facility, located at 760 Encore Drive, will specialize in fulfilling larger, non-sortable items, including televisions, furniture and other oversized merchandise. Walmart says the facility will help it deliver more items faster while supporting the continued growth of its next-day delivery network. Walmart maintains an existing fulfillment operation at 650 Gateway Blvd. in Monroe, which employs more than 200 associates and will continue operating.

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JEFFERSON VALLEY, N.Y. — JLL has negotiated the sale of a 405-unit self-storage facility in Jefferson Valley, about 50 miles north of New York City. Built on 3.6 acres in 2022, Jefferson Valley Self Storage is a conversion of a former big box retail store that features 55,311 net rentable square feet of space. CubeSmart operates the facility, which was 87 percent occupied at the time of sale. JLL represented the seller, Columbia Pacific Advisors, in the transaction. Horizon Storage Group purchased the facility for an undisclosed price. Andover Lending, a joint venture between Andover Properties and TPG Angelo Gordon, provided acquisition financing for the deal.

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HARRISBURG, PA. — Realterm, a global investment manager focused on transit-oriented properties, will develop a cargo handling facility at Harrisburg International Airport that could ultimately have a footprint as big as 105,000 square feet. Developed in partnership with the Susquehanna Area Regional Airport Authority, the facility will feature 135-foot truck court depths, skylights, motion-sensor LED lighting, EV-ready infrastructure and an engineered slab capable of supporting specialized cargo needs. A tentative construction timeline was not disclosed.

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STERLING, HERNDON AND CHANTILLY, VA. — Victoria Industrial Properties, a real estate investment firm based in New Jersey, has acquired a seven-building industrial and flex portfolio in Northern Virginia’s Dulles Corridor for $75 million. Klein Enterprises sold the 308,656-square-foot portfolio to Victoria Industrial, which acquired the assets in partnership with Lincoln Equities Group. The portfolio represents the first acquisition for Victoria Industrial. Thomas Didio, Jason Lundy, Max Custer, Evan Parker, Craig Childs, Nazario Paragano and John Cumming of JLL arranged acquisition financing and helped facilitate an equity investment from InterVest Capital Partners. The portfolio, located in Sterling, Herndon and Chantilly, was 90 percent leased at the time of sale to tenants including Honeywell, Inova Health, Artis, Nightwing and Capital Electric.

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