Industrial

VICTORIA, TEXAS — Partners Real Estate, the investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of a 37,221-square-foot warehouse in Victoria, located roughly midway between Houston and Corpus Christi. Chris Caudill of Partners represented the buyer, Waste Management of Texas Inc., which also plans to occupy the facility, in the transaction. Nancy Garner of Woolson Real Estate Inc. represented the seller, Stallion Oilfield Services Ltd.

FacebookTwitterLinkedinEmail
Logan-North-Industrial-Park

LOGAN TOWNSHIP, N.J. — Greek Development has received a $50 million permanent loan for Logan North Industrial Park, a 3.2 million-square-foot development in Southern New Jersey. Greek Development, which partnered with Advance Realty Investors on Logan North Industrial Park, is currently underway on the third phase of construction. The transaction allows Greek Development to apply long-term debt to Buildings A and F, which are leased to SEKO Logistics and LaserShip Logistics, respectively. An undisclosed life insurance company provided the financing, which retires the original construction loan from Wells Fargo. Michael Klein, Jim Cadranell, Gregory Nalbandian and Ryan Carroll of JLL arranged the debt.

FacebookTwitterLinkedinEmail
3589-Harbor-Blvd-Costa-Mesa-CA

COSTA MESA, CALIF. — Lee & Associates Orange has arranged the sale of a freestanding industrial/flex building in Costa Mesa. The property traded for $6.1 million. Located at 3587-3589 Harbor Blvd., the 19,271-square-foot building features a large fenced yard, three ground-level doors and 400 amps, 120/208 volt power. Greg Diab of Lee & Associates Orange represented the buyer in the deal.

FacebookTwitterLinkedinEmail

— By Rob Martensen, Senior Executive Vice President, Colliers International — There are a lot of questions being asked about the Phoenix industrial market as we turn the calendar to 2023. Having been an industrial broker in this market for 25 years, I have seen many ups and downs, which are historically driven by the residential construction market. Phoenix used to be a one-industry town…and that industry was growth. Sure, we’ve had large companies like Motorola, Avnet and Intel, but the industrial market has been mostly driven by people moving to Arizona and buying houses and household goods.   Phoenix has transformed in the past five years into a thriving city that now supports many industries. The largest is advanced manufacturing. This includes semiconductors, battery manufacturing, electric vehicle manufacturing and all supporting businesses. Intel is in the process of a $20 billion expansion to their existing facility, while Taiwan Semiconductor Manufacturing Company (TSMC) is under construction on a $12 billion chip making factory. TSMC recently announced it’s going to immediately start on Phase II of this factory, which will be another $28 billion spent in Phoenix. It is estimated that 160 new companies have moved to Phoenix to support these two new …

FacebookTwitterLinkedinEmail

GRAND PRAIRIE, TEXAS — TriStar Glass has signed a 184,283-square-foot industrial lease in the central metroplex city of Grand Prairie. The Oklahoma-based glass fabricator will occupy the entirety of the facility at 3405 Roy Orr Blvd., which previously served as a Coca-Cola bottling plant. David Eseke and Clay Balch of Cushman & Wakefield represented the tenant, which expects to be operational by the end of the summer, in the lease negotiations. An affiliate of Connecticut-based investment firm CoreOne Industrial owns the property.

FacebookTwitterLinkedinEmail

BENSENVILLE, ILL. — Advanced Metalcraft has purchased industrial space in Bensenville for an undisclosed price. The two adjoining buildings at 110 and 210 Gateway Road total 44,600 square feet. Advanced Metalcraft, a fabricator of precision metal components and assemblies, is relocating and expanding from a 15,000-square-foot space in Franklin Park. Trinity Scurto of Brown Commercial Group represented Advanced Metalcraft, while Brian Carroll of JLL represented the seller, 110 Gateway LLC. Advanced Metalcraft plans to complete building renovations and take occupancy this quarter.

FacebookTwitterLinkedinEmail

FORT WORTH, TEXAS — Evo Pak Packaging has signed a 24,129-square-foot industrial lease at 3440 Highway 114 in Fort Worth. According to LoopNet Inc., the building, which is located within Champions Circle Business Park, was built in 2022 and totals 82,240 square feet. Keaton Brice and Andrew Gilbert of Holt Lunsford Commercial represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

FacebookTwitterLinkedinEmail
Thunderbird-Commerce-Park-Scottsdale-AZ

SCOTTSDALE, ARIZ. — Phoenix-based Creation has acquired 18 acres within Scottsdale Airpark for the development of Thunderbird Commerce Park, a $60 million industrial center. Located at the southeast corner of Scottsdale and Thunderbird roads, the project will feature a 243,360-square-foot Class A industrial building offering 51 truck doors, 32-foot clear heights, 3,000-amp power, four electric vehicle dual charging pedestals, 130-foot truck court depth and 322 car parking spaces. Construction is slated to begin later this year. Creation sourced the land on an off-market basis and is currently processing entitlements through the City of Scottsdale. The project team includes LGE Design Build as general contractor and LGE Design Group as architect. Completion is scheduled for late 2024.

FacebookTwitterLinkedinEmail
8780-E-93rd-Pl-Commerce-City-CO.jpg

COMMERCE CITY, COLO. — Industrial Outdoor Ventures (IOV) has completed the disposition of an 11.9-acre Industrial Service Facility (ISF), which is a property that is used to store, maintain or dispatch vehicles, equipment or bulk materials. The sale also included a flex building at 8780 E. 93rd Place in Commerce City. The buyer and price were not disclosed. Completed in September 2022, the 52,500-square-foot Class A maintenance and repair facility features 4,200 square feet of office space and can accommodate a single user or multiple tenants. The shop area features two wash bays and 18 drive-through service bays, as well as sealed concrete floors and trench drains. Additionally, the property includes a fully fenced and secured yard for parking and storage, LED lighting and extensive landscaping. Mike Wafer, Mike Wafer Jr. and Mike Viehmann of Newmark represented IOV, while James McGill and Chris Schultz of JLL represented the buyer in the transaction.

FacebookTwitterLinkedinEmail

CARLSTADT, N.J. — JLL has arranged a $19.5 million acquisition loan for a 109,775-square-foot warehouse and distribution building in the Northern New Jersey community of Carlstadt. The facility at 305 Veterans Blvd. sits on 3.5 acres and features a clear height of 22 feet, six dock-high doors, one drive-in door and 78 parking spaces. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the three-year, floating-rate loan through TriState Capital Bank on behalf of the borrower, Penwood Real Estate Investment Management. The current tenant is in the process of vacating the property, and JLL has also been retained for leasing services.

FacebookTwitterLinkedinEmail