Tuesday, July 8, 2025
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Industrial

IndustrialMidwestMinnesota

CBRE Arranges JV Partnership for 627,980 SF Industrial Portfolio in Metro Minneapolis

by Kristin Harlow

MINNEAPOLIS — CBRE has arranged a joint venture partnership between Capital Partners and Eagle Realty Group on a five-building industrial portfolio totaling 627,980 square feet in metro Minneapolis. Two of the newly constructed buildings are fully occupied, while the remaining three are still under construction. Judd Welliver and Bentley Smith of CBRE arranged the partnership on behalf of their client, Minneapolis-based Capital Partners. There is potential for a second phase of the partnership with an additional 550,000 square feet of development.

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IllinoisIndustrialLeasing ActivityMidwest

Luxe Weavers Signs 28,436 SF Industrial Lease in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Rug company Luxe Weavers has signed a 28,436-square-foot industrial lease at Park 355 in the Chicago suburb of Woodridge. The building, which is located at 2145 Internationale Parkway, is now fully leased. Reinier Pranger and Joshua Hearne of Cawley Chicago represented the tenant. Sean Henrick, Jason West and Ryan Klink of Cushman & Wakefield represented the undisclosed landlord.

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AcquisitionsIndustrialMidwestSelf-StorageWisconsin

Marcus & Millichap Brokers Sale of 24,480 SF Self-Storage Facility in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — Marcus & Millichap has brokered the sale of Safe Storage Club, a 24,480-square-foot self-storage facility in Kenosha. The sales price was undisclosed. The property features 348 parking spaces. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the seller, a limited liability company. The team also secured and represented the buyer, an individual trust. The sale closed above list price.

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AcquisitionsConnecticutIndustrialNortheast

Colliers Negotiates $15.2M Sale of Distribution Center in Enfield, Connecticut

by Taylor Williams

ENFIELD, CONN. — Colliers has negotiated the $15.2 million sale of a 235,000-square-foot distribution center in Enfield, a northern suburb of Hartford. The property sits on a 19-acre site near I-91 and was fully leased at the time of sale. Nicholas Morizio of Colliers represented the seller, an entity doing business as Enfield Distribution Center LLC, and the buyer, Massachusetts-based AIS Development, in the transaction.

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Lacey-Logistics-Lacey-WA
IndustrialMarket ReportsWashingtonWesternWestern Market Reports

Tenant Demand Remains High in Seattle Industrial Market, but Interest Rates Slow Investment Sales

by Jeff Shaw

By Bill Condon, Executive Vice President, Colliers The most significant impact to Seattle’s industrial market this year comes from outside the market. Inflation resulting in raised interest rates has stymied sale activity but done little to slow leasing activity. Tenant demand has remained high, particularly among third-party logistics (3PL), ecommerce and aerospace companies. Logistics remains the main driver for activity and development in submarkets from Tacoma south. This year alone, Holman Distribution leased 353,000 square feet in Frederickson and Maersk leased 246,000 square feet in Lakewood. Both of these cities only had sporadic activity prior to 2020. For 3PL companies, the south Puget Sound/Tacoma area is attractive due to its proximity to the Port of Tacoma and the desirable labor pool in Pierce County. Closer to Seattle, Blue Origin leased 172,000 square feet in Kent, furthering the legacy of aerospace activity in Puget Sound. The rapid rise in interest rates has created a difference in expectations between sellers and buyers, whose interest rates have nearly doubled since the start of this year. This disconnect between the seller’s value and buyer’s ability to purchase is likely to delay transactions until there’s more stability in capital markets nationally. While tenant demand remains robust, there …

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IllinoisIndustrialLeasing ActivityMidwest

Two Tenants Sign Lease Renewals at Industrial Property in Morton Grove, Illinois

by Kristin Harlow

MORTON GROVE, ILL. — Two tenants have signed industrial lease renewals at 8220 Austin Ave. in Morton Grove, a northern suburb of Chicago. Dynamic Group, a contract cabinet manufacturer, signed a 45,000-square-foot renewal. Johnson & Quin expanded its offsite storage facility to 17,500 square feet at the property. Johnson & Quin is a large volume, personalized direct mail company that has operated in the Chicago area for 146 years. Sam Badger of CBRE represented Johnson & Quin, while Brendan Green and Patrick Turner of Colliers represented ownership, Clear Height Properties.

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DevelopmentIndustrialTexas

Glazer’s Beer & Beverage to Open 250,000 SF Distribution Center in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — Glazer’s Beer & Beverage will open a 250,000-square-foot distribution center in the Rio Grande Valley city of Weslaco. The wholesale alcoholic beverage distributor will be the anchor tenant of Mid Valley International Industrial Park, a 122-acre master-planned development on which the Weslaco Economic Development Corp. recently broke ground. The move is expected to add about 200 new jobs to the local economy.

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IndustrialLeasing ActivityTexas

Texas Almet Signs 42,850 SF Industrial Lease in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Texas Almet, a supplier of aircraft parts, has signed a 42,850-square-foot industrial lease at 501-509 106th St. in Arlington. According to Propertyshark.com, the single-tenant building was constructed on two acres in 1980. Canon Shoults of Holt Lunsford Commercial represented the undisclosed landlord in the lease negotiations. Scott Voelkel of Dickey Property Co. represented the tenant.

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525-Industrial-Drive-Lewisberry-Pennsylvania
AcquisitionsIndustrialLee & AssociatesNortheastPennsylvania

Lee & Associates Brokers Sale of 189,600 SF Industrial Facility in Lewisberry, Pennsylvania

by Taylor Williams

LEWISBERRY, PA. — Lee & Associates has brokered the sale of a 189,000-square-foot industrial facility in Lewisberry, a southern suburb of Harrisburg. The distribution center at 525 Industrial Drive was built on a speculative basis and features a clear height of 32 feet, 45 loading docks and an ESFR sprinkler system. Bob Yoshimura, Joe Hill, Eric Mattson and Connor Sanbower of Lee & Associates represented the seller, a partnership between Boston-based firms High Street Logistics Properties and TA Realty, in the transaction.

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150-Tornillo-Way-Tinton-Falls-New-Jersey
IndustrialMarket ReportsNortheastNortheast Market Reports

Industrial Buyers in Northeast Markets Can Work With Negative Leverage

by Taylor Williams

By Taylor Williams  “Negative leverage.” At face value, the term has an undeniably ominous connotation. The first half is an umbrella word for all things adverse and pessimistic, while the second evokes a sense of financial helplessness and dependency, of being permanently hamstrung by creditors. Yet in the context of industrial investment in major markets throughout the Northeast, the term is more synonymous with flexibility and acceptance, as it represents a framework through which deals continue to get done despite the very dicey conditions of the U.S. capital markets. Since the Federal Reserve began aggressively raising the federal funds rates this spring to combat severe inflation, all commercial property types have been hit with softening buyer demand and, consequently, price declines. At the time of this writing, the nation’s central bank had a target range of 3 to 3.25 percent for short-term interest rates, nearly 300 basis points above its stated goal at the beginning of the year. Increases of that magnitude in the cost of debt adversely impact demand across all asset classes, as there are only so many buyers that can pay entirely in cash. Investors that can pay all cash expect — and usually receive — discounted …

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