Industrial

Vivion Leases 49,545 SF Regional Distribution Hub in Gardena, California

by Jeff Shaw May 18, 2023

GARDENA, CALIF. — Ingredients distributor Vivion has leased 49,545 square feet at 15500 S. Main Street, Building B in Gardena. Located in the South Bay region of Los Angeles County, the property will be used as Vivion’s regional distribution hub. A subsidiary of Operio Group, Vivion is an ingredients distributor that specializes in products for application in the solid dose, pharmaceutical, nutritional, food and beverage, cosmetics, personal care, agricultural and industrial markets. The company’s Gardena distribution hub will be 30,000 square feet larger than its current facility in Vernon. Vivion expects to occupy its new space in June 2023. Grant Huff of Transwestern represented Vivion in the transaction.

May 18, 2023

Development Industrial Midwest Minnesota

PCCP, Endeavor Development to Build Next Phase of Arbor Lakes Business Park in Maple Grove, Minnesota

by Kristin Harlow May 18, 2023

MAPLE GROVE, MINN. — A joint venture between PCCP and Endeavor Development has begun Phase II of Arbor Lakes Business Park in the Minneapolis suburb of Maple Grove. This second phase includes two buildings totaling 406,000 square feet. The buildings will each feature a clear height of 32 feet along with dock doors, drive-in doors, ample car parking and a shared 180-foot truck court. RJ Ryan is the general contractor. First National Bank of Omaha provided the construction loan. Phase I, which encompasses two buildings totaling 443,097 square feet, is slated for completion soon.

May 18, 2023

Industrial Kansas Market Reports Midwest Midwest Market Reports

Many Industries Such as Aerospace Drive Wichita’s Industrial Growth

by Kristin Harlow May 18, 2023

By Ted Branson, Landmark Commercial Real Estate There continues to be strong demand and a resulting shortage of industrial buildings in Wichita from 1,000 to 100,000 square feet for lease or for sale, not dissimilar from the fierce competition for housing, with prospects paying well above market rates just to keep from losing out “again” on an available property. With that, Wichita is seeing vacancies continue near 5 to 6 percent, an increase in average lease rates from $4 to $6 per square foot, and average sales prices increasing from $35 to $50 per square foot. New construction prices carry that considerably higher. That demand for space, and the increasing prices that prospects will pay, often leads to land sales and new construction. Many of the supply chain issues that caused construction to take up to two years have been improved or resolved, and several projects are underway. Developers have built several speculative warehouses, most notably in the new ICT21 Industrial Park, the former location of the Derby Oil refinery. Ron and Marty Cornejo did a masterful job of clearing the site of structural obstacles and rendering pollution issues innocuous, with Conco erecting three first-class, tilt-up concrete, high-bay warehouses, with …

May 18, 2023

Civic Development Industrial Texas

American Airlines, DFW Airport Enter into $4.8B Use-and-Lease Agreement

by Taylor Williams May 17, 2023

FORT WORTH, TEXAS — American Airlines and Dallas-Fort Worth (DFW) International Airport have entered into a use-and-lease agreement that includes $4.8 billion in pre-approved capital investments. The lease term is 10 years. Projects that have been approved under the agreement include the construction of the new Terminal F, the renovation of Terminal C and the expansions of gates at Terminals A and C. The construction of Terminal F, which will have a 15-gate concourse, is expected to cost about $1.6 billion. The expansion of the Central Terminal Area, which will include a major reimagining of Terminal C and gate expansions extending from Terminals A and C, as well as significant upgrades to roadways and terminal access, is valued at roughly $2.7 billion. The deal replaces a 2010 use-and-lease agreement with American Airlines, whose customers account for about 85 percent of the airport’s annual passenger traffic. The airline employs about 35,000 people across the airport and its 300-acre headquarters campus in Fort Worth.

May 17, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 37,373 SF Industrial Lease in Carrollton, Texas

by Taylor Williams May 17, 2023

CARROLLTON, TEXAS — Lee & Associates has negotiated a 37,373-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the property at 2545 Golden Bear Drive was built in 2005 and totals 49,591 square feet. Johnny Anderson and Mark Graybill of Lee & Associates represented the landlord, an entity doing business as SL6 Logistics LP, in the lease negotiations. The representative of the tenant, packaging and fastener distributor SouthernCarlson, was not disclosed.

May 17, 2023

Industrial Leasing Activity Texas

Zeno Truck Parts Signs 12,564 SF Industrial Lease Renewal, Expansion in Stafford, Texas

by Taylor Williams May 17, 2023

STAFFORD, TEXAS — Zeno Truck Parts has signed a 12,564-square-foot industrial lease renewal and expansion at 4007 Greenbriar Drive in Stafford, a southwestern suburb of Houston. According to commercialcafé.com, the multi-tenant building totals 34,705 square feet and was constructed on 2.1 acres in 1982. Dylan Stiteler of Oxford Partners represented the tenant in the lease negotiations. William Carpenter of Stream Realty Partners represented the landlord, DRA Advisors.

May 17, 2023

Development Illinois Industrial Midwest

Opus Begins Construction on Third Spec Industrial Building at Tollway Corporate Center in North Aurora, Illinois

by Kristin Harlow May 17, 2023

NORTH AURORA, ILL. — The Opus Group has begun construction on the third and final building at Tollway Corporate Center in North Aurora. The 408,195-square-foot speculative project is a joint venture with Principal Asset Management. The building will feature immediate access to I-88 along with a clear height of 36 feet, 55 dock doors, four drive-in doors, 134 auto parking stalls and 94 trailer stalls. Completion is slated for December. Opus is the developer, design-builder, architect and structural engineer. Brian Kling and Reed Adler of Colliers and Dan Leahy and Packy Doyle of NAI Hiffman are marketing the space for lease. Opus completed the first two buildings at Tollway Corporate Center in December 2022. The properties are fully leased to Soligent Distribution, Karat Packaging and Ryder Integrated Logistics.

May 17, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 18,924 SF Industrial Lease in Irving

by Taylor Williams May 16, 2023

IRVING, TEXAS — Lee & Associates has negotiated an 18,924-square-foot industrial lease at 5325 FAA Blvd. in Irving. According to LoopNet Inc., the building features 24-foot clear heights, two dock-high doors and roughly 3,000 square feet of office space. Reed Parker of Lee & Associates represented the tenant, Reaction Audio Visual, in the lease negotiations. Mark Graybill and Ken Wesson, also with Lee & Associates, represented the landlord, Nuveen Real Estate.

May 16, 2023

California Development Industrial Western

Kearny Real Estate, Dune Real Estate Partners Plan Harbor Logistics Center in Santa Ana, California

by Jeff Shaw May 16, 2023

SANTA ANA, CALIF. — Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a 163,000-square-foot industrial facility in Santa Ana. The new property will replace a recently renovated office campus. Construction is projected to begin in the first quarter of 2024. Kearny acquired the eight-acre office campus at 3130 and 3100 S. Harbor Blvd. in 2018. It hit the market a year later after Kearny completed a multi-million-dollar renovation and rebranded it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.

May 16, 2023

Acquisitions Industrial Midwest Minnesota

MLG Capital Acquires Hampshire Technology Center in Bloomington, Minnesota

by Kristin Harlow May 16, 2023

BLOOMINGTON, MINN. — MLG Capital has acquired Hampshire Technology Center in the Minneapolis suburb of Bloomington for an undisclosed price. The Class B flex industrial property totals more than 144,000 square feet across 14 acres. MLG acquired the asset in partnership with Hoyt Properties and plans to make interior renovations. Hampshire Technology Center marks MLG’s 25th investment in metro Minneapolis and the 11th acquisition within its MLG Private Fund VI, which launched in May 2022.

May 16, 2023

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