Industrial

Ackerman & Co. Underway on 511,000 SF Industrial Project in Selma, Texas

by Taylor Williams August 9, 2023

SELMA, TEXAS — Atlanta-based developer Ackerman & Co. is underway on construction of Corporate Drive Industrial Complex, a 511,000-square-foot industrial project in Selma, a northeastern suburb of San Antonio. The development will consist of a 274,000-square-foot facility and 237,000-square-foot structure on a 32-acre site. The rear-load buildings will feature 32- to 36-foot clear heights and combined parking for 647 cars and 59 trailers. Ackerman is developing the project in partnership with Baltisse US Inc. and is targeting a first-quarter 2024 delivery. Partners Real Estate has been tapped as the leasing agent.

August 9, 2023

Acquisitions Illinois Industrial Midwest

Apex Industrial Automation Acquires 14,400 SF Building in Bensenville, Illinois

by Kristin Harlow August 9, 2023

BENSENVILLE, ILL. — Apex Industrial Automation, an industrial equipment and motor supplier, has acquired a 14,400-square-foot industrial building in the Chicago suburb of Bensenville for an undisclosed price. Apex will occupy over half of the building, which is located at 222-224 Williams St. The remainder of the building will be occupied by an existing tenant. Jerry Sullivan of DarwinPW Realty/CORFAC International represented the buyer, while Robert DeSalvo of Sierra Realty represented the seller, a private trust.

August 9, 2023

Development Industrial New York Northeast Self-Storage

Davis Cos., Highland Development Complete 6,000-Unit Self-Storage Facility in Manhattan

by Taylor Williams August 9, 2023

NEW YORK CITY — A joint venture between The Davis Cos., a Boston-based development and investment firm, and Highland Development Ventures has completed a 6,000-unit self-storage facility at 155 West 29th St. in Manhattan’s Chelsea neighborhood. Public Storage will operate the facility, which rises 18 stories and spans roughly 180,000 net rentable square feet. Project partners included Mancini Duffy (architect of record), Cauldwell Wingate Construction (general contractor), GEA Consulting Engineers (mechanical, electrical, plumbing and fire protection engineer) and McNamara Salvia (structural engineer).

August 9, 2023

Industrial Leasing Activity New Jersey Northeast

Cushman & Wakefield Negotiates 67,663 SF Industrial Lease in Secaucus, New Jersey

by Taylor Williams August 9, 2023

SECAUCUS, N.J. — Cushman & Wakefield has negotiated a 67,663-square-foot industrial lease at 700 Penhorn Ave. in the Northern New Jersey community of Secaucus. The building spans 105,975 square feet and features a clear height of 35 feet, 120 parking spaces, six loading docks and one drive-in door. Chuck Fern, Thomas Tucci, Stephen Shoemaker, Torsten Thaler and Natalie Gorga of Cushman & Wakefield represented the landlord, Sinai Associates Inc., in the lease negotiations. The tenant is third-party logistics firm Advanced International Freight. The building is now fully leased.

August 9, 2023

Acquisitions Alabama Industrial Southeast

Ackerman & Co. Acquires 307,200 SF Distribution Center in Birmingham Leased to Dollar General

by John Nelson August 8, 2023

BIRMINGHAM, ALA. — Ackerman & Co. has acquired a 307,200-square-foot distribution center located on a 45.6-acre site at 1532 Midfield Industrial Blvd. in Birmingham. Completed in 2005, the property was fully leased at the time of sale to discount retail giant Dollar General. The facility features 28-foot ceilings and a Norfolk-Southern rail line that feeds directly into the building, as well as 17 dock-high doors, one drive-in door, 11-inch thick floors and solar panels on the roof. The acquisition includes a 23-acre parcel that can accommodate an expansion, build-to-suit opportunities or outside/trailer storage. This is the first acquisition in Alabama for Atlanta-based Ackerman & Co. Philip Yost of CBRE represented the seller, Joe Piper Inc., in the transaction. The sales price was not disclosed.

August 8, 2023

Development Industrial Texas

CLX Ventures Underway on 651,010 SF Spec Industrial Project in New Braunfels, Texas

by Taylor Williams August 8, 2023

NEW BRAUNFELS, TEXAS — Developer CLX Ventures is underway on construction of New Braunfels Commerce Center, a 651,010-square-foot speculative industrial project that will be located on the northeastern outskirts of San Antonio. Designed by Powers Brown Architecture, New Braunfels Commerce Center will consist of four buildings ranging in size from 129,632 to 204,874 square feet on a 46.7-acre site. All four buildings will feature 32-foot clear heights and rear-load configurations. Stream Realty Partners is the leasing agent. Delivery is slated for spring 2024.

August 8, 2023

Industrial Leasing Activity Texas

Royal Finish Signs 11,533 SF Lease Renewal at Industrial Flex Property in Dallas

by Taylor Williams August 8, 2023

DALLAS — Royal Finish Inc., a provider of building restoration services, has signed a 11,533-square-foot lease renewal at Sandhill Business Center, an industrial flex property in northeast Dallas. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, OMO Investment Co., in the lease negotiations. Reegan Busby of Colliers represented the tenant.

August 8, 2023

Acquisitions Industrial Midwest Wisconsin

Founders 3 Brokers $1.1M Sale of Industrial Building in Greendale, Wisconsin

by Kristin Harlow August 8, 2023

GREENDALE, WIS. — Founders 3 Real Estate Services has brokered the $1.1 million sale of a 13,000-square-foot industrial building in Greendale, a southwest suburb of Milwaukee. The property is located at 6600 S. Industrial Loop. Paul McBride and Patti Stevens of Founders 3 represented the seller, B&H Holdings. Massimo Property Investments was the buyer.

August 8, 2023

Beaverton-Industrial-Center-Beaverton-OR

Acquisitions Industrial Oregon Western

STAG Industrial Acquires Beaverton Industrial Center in Oregon for $20.6M

by Amy Works August 8, 2023

BEAVERTON, ORE. — STAG Industrial has purchased Beaverton Industrial Center, a multi-tenant industrial/distribution project in Beaverton. BKM Capital Partners sold the asset for $20.6 million. Situated on 6.4 acres, the 121,426-square-foot property consists of two freestanding distribution buildings located at 5805 and 5807 SW 107th Ave. Originally constructed in the 1960s, the asset was extensively upgraded in 2021. At the time of sale, Beaverton Industrial Center was fully leased. Bryce Aberg, Jeff Chiate, Jeff Cole, Rick Ellison, Mike Adey, Zach Harman and Brad Brandenburg of Cushman & Wakefield’s National Industrial Investment Advisory Group in Southern California represented the seller. Greg Nesting, Aaron Watt and Keegan Clay of Cushman & Wakefield provided local market advisory.

August 8, 2023

Acquisitions Content Partner Development Features Industrial Midwest NAI Northeast Southeast Texas Western

Logistics, Location, the 1.5-Year Rule Drive Industrial Tactics

by Sarah Daniels August 8, 2023

Location’s importance to commercial real estate has become a cliché. But in logistics and industrial considerations, the idea is new again — it’s not about where you are but where customers need to go and the primacy of transportation. If you’re not at the place and time that clients need, it doesn’t matter how theoretically fine the setting or how impressive the facilities are. “Transportation is roughly 12 times the cost of industrial real estate,” says Adam Roth, executive vice president at NAI Hiffman. Finished products, goods and materials are sent into and out of facilities over and over again. Shipping and trucking are a stiffly recurring expense and a much higher spend than real estate. “If I can impact your transportation spend, the real estate is a much smaller factor in the supply chain. If you can address the current concern of transportation, real estate rates almost doesn’t matter, due to a location’s supply chain advantages. Real estate can be one of the best ways to combat transportation costs.” The Rule of 1.5 In practical terms, customers’ plans for transportation are a series of changes, starting at factories, going to ports or warehouses for inventory, on to major and …

August 8, 2023

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