Industrial

Sunland Nutrition Buys Industrial Building in Aliso Viejo, California for $14M

by Jeff Shaw May 1, 2023

ALISO VIEJO, CALIF. — Sunland Nutrition has purchased a 40,792-square-foot industrial building in Aliso Viejo for $14 million. The nutritional ingredients distributor will use the building for its headquarters. The facility is located at 81-91 Columbia. It features 28-foot warehouse clear heights, two ground-level loading doors, two dock-high loading doors, large fenced yard, building-top signage and 4.25/1,000 parking ratio. JLL’s Xavier Nolasco, Brian Thene, Steve Wagner and Cameron Driscoll represented the undisclosed seller. Steve Crane of Daum Commercial represented Sunland Nutrition.

May 1, 2023

California Industrial Leasing Activity Retail Western

Grocery Chain Leases Distribution Center in Santa Fe Springs, California

by Jeff Shaw May 1, 2023

SANTA FE SPRINGS, CALIF. — Asian and Hispanic e-grocer Weee! Inc. has leased space at Prologis Mid Counties Distribution Center in Santa Fe Springs. The new space at 13215 Cambridge St. will allow the company to expand from its existing cold storage facility in La Mirada. CBRE’s Ben Seybold and Rick McGeagh represented Prologis in the lease negotiations.

May 1, 2023

Acquisitions Development Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 151,756 SF Industrial Development Site in Somerset, New Jersey

by Taylor Williams May 1, 2023

SOMERSET, N.J. — Cushman & Wakefield has brokered the sale of a 151,756-square-foot industrial development site in the Northern New Jersey community of Somerset. The fully entitled site is located at 110 Belmont Drive and spans 7.8 acres. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the seller, Braha Properties, in the transaction. Nevada-based Dermody Properties acquired the site with plans to construct a facility with a clear height of 40 feet, 30 loading positions and 93 car parking spaces.

May 1, 2023

Acquisitions Industrial Texas

CBRE Brokers Sale of Two Metro Dallas Industrial Buildings Totaling 918,213 SF

by Taylor Williams April 28, 2023

MESQUITE, TEXAS — CBRE has brokered the sale of two industrial buildings totaling 918,213 square feet in the eastern Dallas suburb of Mesquite. Buildings B and D at Alcott Station, a 160-acre development by Urban Logistics Realty, total 325,218 and 592,995 square feet, respectively. At the time of sale, Building B was vacant, and Building D was fully leased to third-party provider RJW Logistics Group. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented Urban Logistics Realty in the transaction. Institutional investment firm BentallGreenOak purchased the buildings for an undisclosed price.

April 28, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 45,000 SF Industrial Lease in Flower Mound, Texas

by Taylor Williams April 28, 2023

FLOWER MOUND, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 45,000-square-foot industrial lease in Flower Mound, a northeastern suburb of Fort Worth. According to LoopNet Inc., the building at 1200 Lakeside Parkway was built on 26 acres in 2007 and features 18-foot clear heights. Andrew Gilbert and Keaton Brice off Holt Lunsford represented the landlord, Prologis, in the lease negotiations. Tyler Howarth and Abby Aulds, also with Holt Lunsford, represented the tenant, Lux Ice, which makes slow-melting drinking ice for alcoholic beverages.

April 28, 2023

Constitution-Logistics-Center-Piscataway

Development Industrial New Jersey Northeast

Rockefeller Group Breaks Ground on 147,000 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams April 28, 2023

PISCATAWAY, N.J. — New York City-based developer Rockefeller Group has broken ground on Constitution Logistics Center, a 147,000-square-foot industrial project in the Northern New Jersey community of Piscataway. The 18-acre site at 10 Constitution Ave. formerly housed a 100,000-square-foot office building that was owned and occupied by hearing aid manufacturer WS Audiology and that is now being demolished. Constitution Logistics Center will feature a clear height of 36 feet, 41 loading docks, 123 car parking spaces and 57 trailer stalls. Completion is slated for the second quarter of 2024. ARCO Construction is the general contractor for the project. Cushman & Wakefield and KBC Advisors have been appointed as the leasing agents.

April 28, 2023

Acquisitions Industrial New Jersey Northeast

Faropoint Acquires Northern New Jersey Industrial Facility for $28.3M

by Taylor Williams April 28, 2023

RIDGEFIELD, N.J. — Locally based investment firm Faropoint has acquired a 113,979-square-foot industrial facility in the Northern New Jersey community of Ridgefield for $28.3 million. Faropoint acquired the two-building facility, which consists of a 57,599-square-foot food processing and production building and a 56,380-square-foot distribution building, in a sale-leaseback with the tenant, Biazzo Dairy Products. Frank Costa III, Jim Isbell and Brian Sherlock with Viewpoint Advisors brokered the deal.

April 28, 2023

Development Industrial Nevada Western

Lincoln Property Co. Breaks Ground on 1.6 MSF Windsor Commerce Park in Las Vegas

by Jeff Shaw April 28, 2023

LAS VEGAS — Lincoln Property Co. has broken ground on Windsor Commerce Park, a nearly 1.6 million-square-foot industrial project in Las Vegas. The eight-building, 86-acre, Class A industrial park is LPC’s first ground-up industrial endeavor in Nevada. It is scheduled for completion during the third quarter of 2024. Kevin Higgins, Garrett Toft, Jake Higgins and Kelsey Higgins from CBRE are the project’s exclusive leasing brokers.

April 28, 2023

Industrial Leasing Activity Michigan Midwest

Paslin Signs 113,742 SF Industrial Lease in Pontiac, Michigan

by Kristin Harlow April 28, 2023

PONTIAC, MICH. — The Paslin Co. has signed a 113,742-square-foot industrial lease at 660 S. Blvd. East in Pontiac. Founded in 1937, the company is a full-service design-build organization serving the global automotive industry. Phil Konopitski of Friedman Real Estate represented the tenant in the lease. The landlord was undisclosed.

April 28, 2023

Industrial Market Reports Nevada Western Western Market Reports

Industrial Market Stays Elevated in Northern Nevada

by Jeff Shaw April 28, 2023

— By Baker Krukow, Senior Advisor, Industrial, Dickson Commercial Group — The Reno-Sparks industrial market is expected to remain active in 2023. It has a hefty pipeline of proposed industrial projects, steady increases in rental rates and a direct vacancy rate below 2 percent. The lack of available product has remained a challenge for tenants looking to occupy space, while landlords have been able to benefit from competing offers. The result of these tight market conditions will continue to push industrial development throughout the year. There was roughly 5.4 million square feet of new industrial product delivered in 2022, with 76 percent of those projects being speculative developments. A vast majority of those spec projects were pre-leased prior to completion. Looking at 2023 new construction, developers are dealing with severe winter weather delays. As a result, several projects have had to push back their completion timelines. Amongst some of the anticipated industrial projects under construction are Dermody Properties’ LogistiCenter at I-80 West Phase II, which will contain two state-of-the-art distribution buildings totaling 429,000 square feet. In the Sparks submarket, Panattoni Development has broken ground on the Pyramid Pointe Commerce Center, a 195,000-square-foot, Class A flex/bulk building, which will demise to …

April 28, 2023

Newer Posts

Older Posts