Industrial

Kraft Heinz to Construct $400M Automated Distribution Center in DeKalb, Illinois

by Jeff Shaw July 14, 2023

DEKALB, ILL. — The Kraft Heinz Co. plans to invest more than $400 million in an automated consumer packaged goods (CPG) distribution center in DeKalb, approximately 60 miles west of Chicago. The facility, which will be located along I-88 with national railway access, will total 775,000 square feet, making it one of the largest automatic distribution centers in North America, according to the company. The facility’s design includes a 24/7 automated storage and retrieval system, which will distribute more than 60 percent of Kraft Heinz’s foodservice products and approximately 30 percent of all dry goods. Kraft Heinz also expects the facility to contribute to the company’s broader environmental, social and governance (ESG) goals. More specifically, the company plans to implement sustainable technology to reduce the waste produced at the facility and minimize its overall environmental impact. Kraft Heinz says the plant will generate more than 150 jobs in the region. “As we continue on our journey to lead the future of food, our talented North America teams and collaborative external partners are innovating at a rapid pace to expand our supply chain capabilities,” says Carlos Abrams-Rivera, executive vice president and president of North America at Kraft Heinz. “The DeKalb distribution center …

July 14, 2023

Development Georgia Industrial Leasing Activity Southeast

CIP Real Estate Signs Hyundai, Walgreens to Industrial Leases in Norcross, Georgia

by John Nelson July 13, 2023

NORCROSS, GA. — CIP Real Estate has signed Hyundai and Walgreens to leases at Gwinnett Commons, a 1.3 million-square-foot industrial park in the Atlanta suburb of Norcross. A division of Hyundai preleased a newly delivered, 88,500-square-foot distribution facility at 1760 Corporate Drive. The property features 28-foot clear heights and dock- and grade-level loading with oversize doors. Walgreens preleased an 89,500-square-foot facility at 1700 Corporate Drive that CIP plans to deliver in October. The automated warehouse will feature above-standard office finishes and 32-foot clear heights. CIP built both facilities on a speculative basis before preleasing to Hyundai and Walgreens. The properties represent $25 million in total construction costs. The design-build team includes general contractor Ordner Construction and architect Randall Paulson Architects. Pinnacle Bank provided construction financing.

July 13, 2023

Indiana Industrial Leasing Activity Midwest

Adidas Signs 599,000 SF Industrial Lease Renewal in Indianapolis

by Kristin Harlow July 13, 2023

INDIANAPOLIS — Adidas has signed a 599,000-square-foot industrial lease renewal at 8677 Logo Athletic Court in Indianapolis. Adidas utilizes the property as a finishing facility and produces screen-printed team sport apparel for both professional and amateur teams around the world. Jason Speckman of Colliers represented the landlord, Link Logistics Real Estate. Jimmy Cohoat, Andrea Hopper and Billy Powers of Colliers represented Adidas.

July 13, 2023

Illinois Industrial Leasing Activity Midwest

UPS Inks Lease for 34,700 SF Industrial Service Facility in Addison, Illinois

by Kristin Harlow July 13, 2023

ADDISON, ILL. — UPS has inked a lease for a 34,700-square-foot industrial service facility located at 1404 W. Fullerton Ave. in Addison. The owner, Clear Height Properties, purchased the vacant property in September 2022 and executed a series of capital improvements, including a new roof, mechanical systems, drive-in doors, exterior painting and parking lot replacement. Dominic Carbonari of JLL negotiated the lease. Mary Kay McCreery of Strategic Leasing Law Group served as the attorney on behalf of Clear Height.

July 13, 2023

Industrial Leasing Activity Texas

Ryder Integrated Logistics Signs 234,478 SF Industrial Lease Near Fort Worth

by Taylor Williams July 13, 2023

HALTOM CITY, TEXAS — Third-party freight services provider Ryder Integrated Logistics has signed a 234,478-square-foot, full-building industrial lease at Northmark Commerce Center in the Fort Worth metro of Haltom City. The site spans 20 acres, and the cross-dock facility includes a 104-stall trailer drop lot. Brad Struck and Clint Manning of Cresa represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Creation Equity.

July 13, 2023

Acquisitions Industrial Self-Storage Texas

Versal Arranges Sale of 100-Unit Self-Storage Facility in Austin

by Taylor Williams July 13, 2023

AUSTIN, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stash N Go, a 100-unit facility located roughly eight miles outside of downtown Austin. The facility spans 14,150 net rentable square feet and was 90 percent occupied at the time of sale. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, an Austin-based entity doing business as Libertas Obsido LLC, in the transaction. The team also procured the undisclosed, Miami-based buyer.

July 13, 2023

Industrial Loans New Jersey Northeast

Thorofare Capital Provides $26.6M Loan for Refinancing of Northern New Jersey Industrial Property

by Taylor Williams July 13, 2023

BOGOTA, N.J. — Los Angeles-based Thorofare Capital has provided a $26.6 million loan for the refinancing of a 220,000-square-foot industrial property in the Northern New Jersey community of Bogota. According to LoopNet Inc., the property at 24 River Road was originally constructed on 10 acres in 1910. David Perlman, Edward Prosser and Henry Johnson of Thorofare Capital originated the debt on behalf of the undisclosed borrower, which will use a portion of the proceeds to fund capital improvements.

July 13, 2023

Acquisitions Connecticut Industrial Northeast

Coldwell Banker Brokers Sale of 68,750 SF Industrial Property in Bridgeport, Connecticut

by Taylor Williams July 13, 2023

BRIDGEPORT, CONN. — Coldwell Banker Commercial has brokered the sale of a 68,750-square-foot industrial property located at 1100 Boston Ave. in the southern coastal Connecticut city of Bridgeport. The site spans 3.7 acres. Chris O’Hara of Coldwell Banker represented the buyer, Soda Stop Plus Thrift & Bottle Return Center, in the transaction. Bradley Soules of Newmark represented the seller.

July 13, 2023

Acquisitions Idaho Industrial Self-Storage Western

StorageMart Adds 131,686 SF of Self-Storage Space in Caldwell, Idaho

by Jeff Shaw July 12, 2023

CALDWELL, IDAHO — StorageMart, the largest privately-owned self-storage company, has expanded its footprint in Caldwell. The company has added two storage facilities with a combined net rentable space of 131,686 square feet, providing customers with a variety of storage unit sizes and drive-up options. The storage properties provide a range of unit sizes from compact five-foot by five-foot units to 10-foot by 30-foot units. StorageMart continues to grow its presence in Idaho, catering to the increasing demand for self-storage solutions in the area.

July 12, 2023

Acquisitions Industrial Texas

Westcore Acquires 301,120 SF Distribution Center in Rockwall, Texas

by Taylor Williams July 12, 2023

ROCKWALL, TEXAS — San Diego-based investment firm Westcore has acquired Rockwall Distribution Center, a 301,120-square-foot industrial property located on the eastern outskirts of Dallas. Building features include 32-foot clear heights, 185-foot truck court depths, ESFR sprinklers, 68 dock-high loading doors and 62 trailer parking spots. Dustin Volz, Stephen Bailey and Dom Espinosa of Newmark, along with Matt Dornak and Ryan Wolcott of Stream Realty Partners, represented the undisclosed seller in the transaction. The facility was roughly 70 percent leased at the time of sale to an unnamed tenant.

July 12, 2023

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