Industrial

Cushman & Wakefield Arranges 200,147 SF Lease for Warehouse Underway in South Florida

by John Nelson October 13, 2022

TAMARAC, FLA. — Cushman & Wakefield has arranged a new lease totaling 200,147 square feet for Sonny’s Enterprises LLC to fully occupy a new industrial warehouse being developed at Tamarac Business Center. Sonny’s Enterprises is the parent company of car wash chain Sonny’s The CarWash Factory. The locally based company already leases 345,000 square feet of space within Tamarac Business Center. Upon completion in 2023, the industrial warehouse will sit on a 12-acre site located at 5601 N Hiatus Rd. in Tamarac. The land currently houses a 100,000-square-foot office building that will be demolished. Chris Metzger, Rick Etner Jr., Christopher Thomson and Matt McAllister of Cushman & Wakefield’s South Florida Industrial Team represented the landlord, Hiatus Industrial Venture LLC, which is a joint venture between BlackRock and Butters Construction & Development.

October 13, 2022

Arizona Development Industrial Mixed-Use Retail Top Stories Western

Thompson Thrift Breaks Ground on 1 MSF Elliot Tech Center Mixed-Use Campus in Mesa, Arizona

by Katie Sloan October 13, 2022

MESA, ARIZ. — Thompson Thrift has broken ground on Elliot Tech Center, a 1 million-square-foot industrial and retail campus located at the intersection of Elliot and Signal Butte roads within Mesa’s Elliot Road Technology Corridor. At full build-out, the project will span 75 acres and include eight industrial and retail buildings. The project is located northeast of Phoenix-Mesa Gateway Airport, north of Apple’s Global Command Center and east of Meta’s Mesa Data Center, which is currently under construction. Phase I of the development is scheduled for completion in fall 2023 and will include three industrial buildings ranging from 79,000 square feet to 89,000 square feet and five retail pads. The industrial buildings will feature secure truck courts, a variety of bay sizes and clear heights from 28 feet to 32 feet. Black Rock Coffee Bar and an unnamed convenience store are set to open within the retail portion of Phase I, and lease negotiations are currently underway for a 4,000-square-foot, full-service restaurant. Ken McQueen and Chris McClurg of Lee & Associates are handling leasing for the industrial portions of the development, and Phoenix Commercial Advisors is marketing the retail component. The design-build team for Phase I of the project includes Butler …

October 13, 2022

Development Industrial Texas

Lovett Industrial Underway on 567,140 SF Industrial Project in North Houston

by Taylor Williams October 12, 2022

HOUSTON — Locally based developer Lovett Industrial is underway on construction of Nexus North Logistics Park, a 567,140-square-foot project in North Houston. Building features will include 36-foot clear heights, 104 dock-high doors, 135-foot truck court depths and ample trailer parking. Completion is slated for May 2023. MORE Architecture Studio is designing the project, with Burton Construction and AJ Lindsey LLC respectively serving as the general contractor and civil engineer. Nashville-based Pinnacle Bank provided construction financing. Boyd Commercial has been tapped as the leasing agent.

October 12, 2022

Development Industrial Midwest Missouri

Contegra Underway on 390,943 SF Spec Distribution Center at Blue River Commerce Center in Kansas City

by Kristin Harlow October 12, 2022

KANSAS CITY, MO. — Contegra Construction Co. is underway on a new distribution center at Blue River Commerce Center in Kansas City. The 390,943-square-foot, speculative property marks the fourth of seven planned buildings at the 226-acre industrial campus, which was launched by NorthPoint Development in 2021. The new building will feature 24 dock doors, two drive-in doors, a clear height of 40 feet, 3,000 square feet of office space and a 3,000-square-fot mezzanine served by two stairways. Completion is slated for the end of this year.

October 12, 2022

Acquisitions Illinois Industrial Midwest

Blue West Capital Brokers Sale of 75,000 SF Warehouse in Arcola, Illinois

by Kristin Harlow October 12, 2022

ARCOLA, ILL. — Blue West Capital has brokered the $2.4 million sale of a 75,000-square-foot warehouse occupied by MasterBrand Cabinets in Arcola, a city in central Illinois. The tenant, which recently exercised an early lease extension option, stores raw materials at the property prior to them being assembled at a manufacturing plant 12 miles west in Arthur. Zach Wright and Robert Edwards of Blue West Capital represented the seller, a Midwest-based private equity real estate company. A local 1031 exchange investor was the buyer.

October 12, 2022

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Negotiates Sale of 56,326 SF Industrial Building in Lockport, Illinois

by Kristin Harlow October 12, 2022

LOCKPORT, ILL. — Marcus & Millichap has negotiated the sale of a 56,326-square-foot industrial building in the Chicago suburb of Lockport for an undisclosed price. The building sits on a little over seven acres at 900 N. State St. Originally constructed in 1970, the property has received multiple expansions and is currently 83 percent leased to eight tenants. Brent Holder and Peter Doughty of Marcus & Millichap represented the seller, a local private investor who had owned the building for more than 20 years. A Mexico-based private investment group was the buyer.

October 12, 2022

Acquisitions Development Industrial Utah Western

ViaWest Group, Clarion Partners Buy 25-Acre Industrial Development Site in Salt Lake City

by Amy Works October 12, 2022

SALT LAKE CITY — A partnership between ViaWest Group and Clarion Partners has acquired 25 acres of land in Salt Lake City’s Northwest Quadrant from Gannett Enterprises for an undisclosed price. Rusty Bollow and Bobby Stevens of Colliers represented the seller, while Phillip Eilers of Cushman & Wakefield represented the buyer in the deal. ViaWest plans to develop more than 340,000 square feet of Class A industrial space on the site, divided into a 100,000-square-foot building and a 240,000-square-foot building. The development will offer direct access to interstates 5 and 215 and State Route 201. Buildings will feature highway visibility, 107 shared trailer spaces, 67 dock doors and nearly 380 parking spaces. Colliers will serve as leasing agents for the new facilities.

October 12, 2022

Acquisitions Colorado Industrial Office Western

Ivy Realty Sells 32,926 SF Flex Office Building in Boulder, Colorado

by Amy Works October 12, 2022

BOULDER, COLO. — Ivy Realty has completed the disposition of 6707 Winchester Circle, a single-story office/industrial building in Boulder. Evermore Partners acquired the asset for $8.8 million. Situated on 3.6 acres within Gunbarrel Tech Center, 6707 Winchester features 33,296 square feet of flex office space. Fully renovated in 2016, the property offers 28,832 square feet of office and lab space and 4,000 square feet of warehouse and distribution space. The warehouse space features three dock-high doors and one roll-up door. On-site amenities include a fitness center with showers and locker rooms, an outdoor patio with barbecue space, and bike storage. At the time of sale, the property was fully leased to four tenants, with life sciences companies comprising 33 percent of the rent roll. Larry Thiel, Jason Schmidt and Rob Key of JLL Capital Markets represented the seller in the transaction.

October 12, 2022

Florida Industrial Loans Southeast

JLL Secures $112M Refinancing for South Florida Industrial Portfolio

by John Nelson October 11, 2022

MIAMI — JLL has secured the $112 million refinancing of a 12-property industrial portfolio in South Florida’s Miami-Dade and Broward counties. Jim Cadranell, Gregory Nalbandian, Maxx Carney and Michael Lachs of JLL arranged the seven-year, fixed-rate loan through an unnamed life company on behalf of the borrower, Seagis Property Group LP, which acquired most of the properties in the portfolio in the past two years. The properties in the 895,958-square-foot portfolio include: • 255 NE 181st St. in Miami • 3075 NW 10th Ave. in Doral • 8850 NW 15th St. in Doral • 9700 NW 17th St. in Doral • 10100 NW 25th St. in Doral • 10005 NW 58th St. in Doral • 12800 NW 113th Court in Medley • 3501 Commerce Parkway in Miramar • 1919 NW 19th St. in Fort Lauderdale • 2765 SW 36th St. in Fort Lauderdale • 3400-3406 SW 26th Terrace in Fort Lauderdale • 280 NW 12th Ave. in Pompano Beach

October 11, 2022

Industrial Loans Midwest Minnesota

JLL Arranges $9.4M Acquisition Loan for Industrial Portfolio in Minneapolis

by Kristin Harlow October 11, 2022

MINNEAPOLIS — JLL Capital Markets has arranged a $9.4 million loan for the acquisition of a six-building industrial portfolio totaling 191,986 square feet in Minneapolis. The properties are home to a variety of tenants such as StreetFactory Media, Children’s Theatre, CenturyLink, Brownstone Distributing and Guthrie Theater. The buildings are situated at the intersection of East Hennepin Avenue and Harrison Street. Trent Niederberger and Britta Lund of JLL arranged the five-year, fixed-rate loan through Justin Adducci of North American Banking Co. Buligo Capital Partners was the borrower.

October 11, 2022

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