Industrial

Stonemont Financial to Develop 1.4 MSF Industrial Park in Murfreesboro, Tennessee

by John Nelson December 13, 2022

MURFREESBORO, TENN. — Stonemont Financial Group, a private real estate investment firm, plans to develop Stonemont Commerce Park 840, a two-building, 157-acre industrial park in Murfreesboro. The developer plans to break ground in the first quarter of 2023 and wrap up construction in late first-quarter 2024. The industrial park will sit on Sulphur Springs Road with direct access to I-840 and proximity to I-24 and Nashville International Airport. The development will include a 1.2 million-square-foot facility with 40-foot clear heights, 280 auto parking stalls and 276 trailer stalls. It will also house a 273,000-square-foot facility to accommodate smaller tenants, with 36-foot clear heights, 200 auto parking stalls and 76 trailer stalls. The design-build team includes general contractor Frampton Construction, brokerage firm Lee & Associates and civil engineer Site Engineering Consultants Inc.

December 13, 2022

South-Belt-Central-Business-Park-Houston

Industrial Leasing Activity Texas

Cushman & Wakefield Negotiates 603,389 SF Industrial Lease in Southeast Houston

by Taylor Williams December 13, 2022

HOUSTON — Cushman & Wakefield has negotiated a 603,389-square-foot industrial lease at South Belt Central Business Park, a development that is under construction in southeast Houston. The tenant, a national third-party logistics firm, will occupy the entirety of the Building 4 upon completion in January 2023. The cross-dock building will feature 36-foot clear heights, 360 car parking spaces, 196 trailer parking stalls, an ESFR sprinkler system and 4,500 square feet of office space. Jim Foreman and Brooke Forrest of Cushman & Wakefield represented the landlord, an affiliate of Houston-based Investment & Development Ventures LLC, in the lease negotiations. Stephen Schneidau and Chuck Berger, also with Cushman & Wakefield, represented the tenant.

December 13, 2022

Acquisitions Industrial Texas

Fort Capital Acquires 465,648 SF Light Industrial Portfolio in San Antonio

by Taylor Williams December 13, 2022

SAN ANTONIO — Fort Worth-based investment firm Fort Capital has acquired The Starcrest Industrial Portfolio, a collection of eight Class B light industrial buildings totaling 465,648 square feet in San Antonio. The buildings are located within a mile of San Antonio International Airport and had a collective occupancy rate of 89 percent at the time of sale. The seller and sales price were not disclosed.

December 13, 2022

Development Industrial Loans Southeast Virginia

Bank OZK, ACORE Provide $80.5M Construction Financing for Industrial Project in Winchester, Virginia

by John Nelson December 13, 2022

WINCHESTER, VA. — Bank OZK and ACORE Capital have provided $80.5 million in construction financing for One Logistics Park’s building 2, a 1 million-square-foot warehouse in Winchester, about 75 miles west of Washington, D.C. Robert Carey and Drake Greer of JLL arranged the financing on behalf of the borrower, The Meridian Group. Located on 76.6 acres at 1486 Millwood Pike, building 2 will be the first asset delivered within One Logistics Park, a 280-acre business park that is expected to house six or seven industrial buildings totaling 2.7 million square feet and 45,000 square feet of retail space. Once completed, the facility will offer 40-foot clear heights, 100 dock doors, 78 additional knockouts, four drive-in doors, 50- by 56-foot column spacing with 65-foot speed bays, a 190-foot truck court, 770 car parking spaces and additional trailer storage space.

December 13, 2022

Industrial Leasing Activity Lee & Associates Texas

Gold 3PL Signs 50,575 SF Industrial Lease in West Dallas

by Taylor Williams December 13, 2022

DALLAS — Gold 3PL, a Texas-based third-party logistics firm, has signed a 50,575-square-foot industrial lease at 1602 Terre Colony Court in West Dallas. According to LoopNet Inc., the property totals 131,412 square feet and sits on a 5.7-acre lot. Mark Graybill and Adam Graham of Lee & Associates represented the landlord, Chicago-based First Industrial Realty Trust, in the lease negotiations. The representative of the tenant was not disclosed.

December 13, 2022

1957-2021-E-Del-Amo-Blvd-Rancho-Dominquez-CA

Acquisitions California Development Industrial Western

DAUM Commercial Arranges Sale 60,104 SF Industrial Development Site in Rancho Dominguez, California

by Amy Works December 13, 2022

RANCHO DOMINGUEZ, CALIF. — DAUM Commercial Real Estate Services has brokered the sale of a 60,104-square-foot, industrial-zoned land parcel at 1957-2021 E. Del Amo Blvd. in Rancho Dominguez. Private sellers sold the asset to Captiva Partners for an undisclosed price. The property features a freestanding, 9,484-square-foot office and industrial building. Anthony Bergeman, Krishna Shegran and Michael Chase of DAUM Commercial Real Estate Services represented one of the private sellers and the buyer in the deal.

December 13, 2022

Acquisitions Industrial New York Northeast Self-Storage

Maya Capital, Artemis Buy 1,120-Unit Self-Storage Facility in New Rochelle, New York

by Taylor Williams December 13, 2022

NEW ROCHELLE, N.Y. — A joint venture between Maya Capital Partners and Artemis Real Estate Partners has purchased a 1,120-unit self-storage facility in New Rochelle, a northern suburb of New York City. The newly constructed, four-story building totals 96,693 net rentable square feet of climate-controlled space. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the $300 million joint venture between the two East Coast-based firms, which will exclusively target self-storage properties in the Northeast.

December 13, 2022

Civic Development Industrial Louisiana Southeast Top Stories

Public-Private Partnership Plans New $1.8B Terminal at Port of New Orleans

by Jeff Shaw December 13, 2022

VIOLET, LA. — Louisiana Gov. John Bel Edwards has announced a public-private partnership between the State of Louisiana, the Port of New Orleans (Port NOLA) and two global maritime industry leaders to build a $1.8 billion container facility on the Lower Mississippi River. The new Louisiana International Terminal (LIT) will be located in Violet, a tiny municipality of fewer than 6,000 residents approximately 10 miles downriver from New Orleans proper. The new facility will be able to serve vessels of all sizes, dramatically increasing Louisiana’s import and export capacity and stimulating the creation of more than 17,000 new jobs statewide by 2050, Port NOLA estimates. New Jersey-based Ports America, one of North America’s largest marine terminal operators, and Switzerland-based Mediterranean Shipping Co., through its terminal development and investment arm Terminal Investment Limited (TiL), have committed $800 million toward the project. In addition to the partners’ investment, the construction of the terminal will be supported by a substantial commitment from Port NOLA, as well as state and federal funding sources. The joint venture will operate the terminal once construction is complete. “This public-private partnership with the Port of New Orleans, TiL and Ports America has the potential to become one of …

December 13, 2022

California Industrial Market Reports Western Western Market Reports

Despite a Slowdown, San Bernardino’s Industrial Outlook Remains Strong

by Jeff Shaw December 13, 2022

By Rick John, Executive Vice President, Ontario Branch Manager, DAUM Commercial The San Bernardino industrial market is experiencing strong market fundamentals as it’s home to 18 percent of the Inland Empire East’s nearly 245 million square feet of industrial space. The city also commands one of the highest prices per square foot across the market, exceeding $300. Although vacancy rates for the Inland Empire East increased for the first time since the pandemic – jumping 14 basis points and ending at 1.1 percent for the third quarter – overall vacancy in San Bernardino remains historically low. In fact, it’s among the lowest in the region at 0.24 percent. This incremental increase in vacancies was primarily seen among smaller buildings, while larger buildings of 500,000 square feet or more continue to be in short supply as vacancy remains near zero. Consistent low vacancy and competition for space are encouraging large companies to pre-lease new developments in the construction pipeline. This has helped bring gross leasing activity to near pre-pandemic levels. In September, Shein signed the largest lease within the Riverside-San Bernardino metro for the quarter with plans to open a 1.8-million-square-foot distribution center that’s currently under development in Cherry Valley. Due …

December 13, 2022

Bohler Content Partner Development Features Industrial Midwest Multifamily Northeast Office Retail Southeast Texas Western

Retail Development Program Lessons Apply Across Property Types

by Sarah Daniels December 13, 2022

Retail development programs have allowed retailers to streamline their goals by creating prototype models based on site particulars. This process saves developers and retailers money as they can be flexible in choosing models that work for each site without needing to alter layouts and features too much between builds. But what makes for successful prototypes and program standards? Can this approach work outside of the retail world? “The lessons of retail programs can apply across property types in this sense: land development consultants and site designers can learn how specific clients need their set of standards and guidelines implemented. It’s essential to thoroughly understand a program client’s procedures, and we’re expected to know these parameters inside and out,” says Steven T. Fortunato, a senior project manager at Bohler’s Rehoboth Beach office in Delaware. Bohler is a land development design and consulting firm that specializes in helping developers move their projects forward faster. “The retail program methodology translates well to other sectors. Starting off with either a new developer or a new client is an opportunity to learn their standards — or help the client create them. The end result must offer the same level of confidence whether the product is retail or …

December 13, 2022

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