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Industrial

CaliforniaIndustrialLeasing ActivityWestern

Hyundai Dealerships Lease 3.1-Acre Transportation Facility in Costa Mesa, California

by Jeff Shaw

COSTA MESA, CALIF. — A group of local Hyundai dealerships have leased a 3.1-acre industrial site in Costa Mesa. The facility includes a 12,588-square-foot truck and automotive maintenance facility and office building.  The group, which includes Hyundai of Huntington Beach, Hyundai of Anaheim and Hyundai of Garden Grove, entered into a five-year agreement for the space. They will use the property as a reconditioning, repair and storage facility for their fleet of new and used vehicles.  Jace Gan and Clyde Stauff of Colliers represented the space’s owner, BLT Enterprises.

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IndustrialLeasing ActivityMarylandOfficeSoutheast

Electric Bike Maker Metalrays Signs 109,192 SF Flex Industrial Lease in Elkton, Maryland

by John Nelson

ELKTON, MD. — Electric bikes manufacturer and distributor Metalrays LLC has signed a 109,192-square-foot lease in Elkton. The space is located within 1003 Konica Drive, a single-story warehouse/industrial and office building spanning 263,000 square feet. Metalrays’ tenancy brings the building, which features 36-foot ceiling heights, 27 loading docks and two drive-in docks and 150 parking spaces, to roughly 40 percent occupancy. Ned Brady and Eric Skogmo of Lee & Associates|Maryland represented Metalrays in the lease negotiations, and Michael McConnell represented the landlord, McConnell Development, on an internal basis.

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AcquisitionsIndustrialTexas

Partners Real Estate Brokers Sale of 25,000 SF Industrial Building in Metro Houston

by Taylor Williams

TOMBALL, TEXAS — Partners Real Estate has brokered the sale of a 25,000-square-foot industrial building located in the northern Houston suburb of Tomball. The building, which sits on 6.7 acres at 1302 S. Cherry St., was built in 1980 and features 30-foot clear heights, according to LoopNet Inc. Wyatt Huff and Cary Latham of Partners represented the seller, an entity doing business as Timber Trails Business Park LLC, in the lease negotiations. The duo also procured the buyer, Harbor Hill Holdings.

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IndustrialLeasing ActivityNew JerseyNortheast

Rise Against Hunger Signs 11,500 SF Industrial Lease in Union, New Jersey

by Taylor Williams

UNION, N.J. — Nonprofit organization Rise Against Hunger has signed an 11,500-square-foot industrial lease in the Northern New Jersey community of Union. The facility features a clear height of 16 feet and two overhead loading docks. Tim Farley of Cushman & Wakefield represented the tenant in the lease negotiations. Joel Tomlinson of Silbert Realty & Management represented the landlord, locally based investment firm The STRO Cos.

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DevelopmentIndustrialMichiganMidwest

Opus Breaks Ground on Two-Building Spec Industrial Development in Romulus, Michigan

by Kristin Harlow

ROMULUS, MICH. — The Opus Group has broken ground on Airport Corporate Center, a two-building speculative industrial development in Romulus, about 16 miles west of Detroit. The two buildings will total more than 270,000 square feet and are being marketed for warehouse and distribution tenants with space needs between 40,000 and 270,000 square feet. The project is situated less than a mile from I-94 and less than three miles north of Detroit Metropolitan Wayne County Airport. Building A will total 100,456 square feet with a clear height of 32 feet, 12 dock doors, 91 auto parking spaces and 13 trailer parking stalls. Building B will total 170,088 square feet with a clear height of 32 feet, 22 dock doors, 115 auto parking spaces and 28 trailer parking stalls. Both buildings are slated for completion in October. Opus is the developer, design-builder, architect and structural engineer. Sean Cavanaugh and Dave MacDonald of JLL are marketing the project for lease. Associated Bank provided construction financing.

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AcquisitionsColoradoIndustrialWestern

EverWest Acquires Central Connection Industrial Project in Denver for $39.6M

by Jeff Shaw

DENVER — EverWest Real Estate Investors has purchased Central Connection, a 194,710-square-foot, Class A industrial asset in Denver, for $39.6 million.  The two-building property is located at 1550 and 1210 E. 73rd Ave. in the North Central infill submarket. It is fully leased to six tenants in an area known for significant demand and high barriers to entry.  Jeremy Ballenger, Jim Bolt, Tyler Carner and Jessica Ostermick of CBRE represented the seller, a joint venture between Comunale Properties and institutional investors advised by J.P. Morgan Asset Management.

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ArizonaDevelopmentIndustrialWestern

Mohr Capital Starts Construction of 704,472 SF West Summit Logistics Park in Surprise, Arizona

by Jeff Shaw

SURPRISE, ARIZ. — Mohr Capital has started construction of West Summit Logistics Park, a 704,472-square-foot industrial property in Surprise.  The project will include two Class A industrial buildings situated three miles from the Northern Parkway and five miles from Loop 101 and Loop 202.  Mohr Capital is the project developer, while Rosewood is the equity partner. Ware Malcomb serves as the project architect, and Nitti/DAC, a joint venture between Nitti Builders and Del Amo Construction, serves as the general contractor.

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AcquisitionsCaliforniaIndustrialWestern

Prologis Buys 21,420 SF Cross-Dock Warehouse in Hayward, California

by Jeff Shaw

HAYWARD, CALIF. — Prologis has purchased a 21,420-square-foot cross-dock warehouse located at 651 Sandoval Way in Hayward. The property features a remodeled office building, truck service maintenance building, employee parking and container parking stalls. The cross-dock warehouse has 50 dock positions and concrete truck wells.  RPM Transportation is the sole tenant of the property. CBRE’s Chris van Keulen, Bob Ferraro and Michael Barry represented both the unnamed buyer and Prologis in the transaction.

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AcquisitionsHawaiiIndustrialWestern

Jeans Warehouse Acquires 16,000 SF Industrial Facility in Honolulu

by Jeff Shaw

HONOLULU — Apparel company Jeans Warehouse has purchased a 16,000-square-foot industrial facility in Honolulu.  The facility is located at 99-984 Iwaena St. in the Aiea neighborhood. The acquisition comes a few months after Jeans Warehouse acquired an 18,500-square-foot industrial facility at 99-910 Iwaena St. for distribution and administration.  JLL’s Cullen Oesterly represented the retailer in both acquisitions, as well as the seller of the most recent facility, CTY Investors Ltd.

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DevelopmentIndustrialTexasTop Stories

Scarborough Lane, Partners Real Estate Unveil Plans for 2,000-Acre AXIS Logistics Park in San Marcos, Texas

by Jeff Shaw

SAN MARCOS, TEXAS — Texas-based Scarborough Lane Development and Partners Real Estate have announced plans for AXIS Logistics Park, a 2,000-acre industrial park in San Marcos. Formerly known as SMART Terminal, the property site is within the Texas Triangle, an urban region consisting of the Dallas-Fort Worth, Houston, San Antonio and Austin metropolitan areas. A development timeline for the park was not disclosed. However, approximately 735 acres of the park are currently zoned for industrial use. The property will include water and wastewater infrastructure, as well as a high-voltage (600 megawatt) electric system with a 356 kilovolt transmission line. The site’s location is near Loop 110, I-35, I-10 and SH-130. Union Pacific Railway, The BNSF Railway and the San Marcos Regional Airport are also adjacent to the property and may provide rail and shipping components to the park.  “In addition to being in a strategically ideal location to serve the Texas Triangle, AXIS Logistics Park is the obvious choice for logistics and shipping by national and international manufacturers,” says John Colglazier, a partner at Partners Real Estate. “Mexico is actively working to bring manufacturing back in their country, and they will fully utilize I-35 as their main corridor through Texas …

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