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Industrial

Fair-Lawn-Logistics-Center
DevelopmentIndustrialNew JerseyNortheast

Peak Construction Underway on 155,010 SF Spec Industrial Project in Fair Lawn, New Jersey

by Taylor Williams

FAIR LAWN, N.J. — General contractor Peak Construction Corp. is underway on construction of Fair Lawn Logistics Center, a 155,010-square-foot speculative industrial project in Northern New Jersey. The facility will be situated on a 9.2-acre site and will feature a clear height of 36 feet, 16 dock doors and 5,000 square feet of office space. M+H Architects is designing the project, and Dynamic Engineering is serving as the civil engineer. Completion is slated for May 2023. The developer was not disclosed.

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AcquisitionsCaliforniaIndustrialTop StoriesWestern

TA Realty Purchases Two Inland Empire Warehouses for $133.5M

by Kristin Harlow

CITY OF INDUSTRY AND CORONA, CALIF. — TA Realty has purchased two industrial buildings in City of Industry and Corona for $133.5 million. JCS Properties sold the assets, which are both located in the Inland Empire region of Southern California. According to Stream Realty Partners, which brokered the deal, the West Inland Empire industrial market comprises more than 334 million rentable square feet of industrial space. The market experienced 6 million rentable square feet of positive gross absorption in the second quarter of 2022. Vacancy remains at an all-time low of 0.38 percent. The City of Industry property, located at 120 Puente Ave., spans 253,670 square feet. The fully leased building features refrigeration rooms and a third-story office space with a training room, full kitchen and bar area for both clients and employees. The Corona property, located at 451 Cota St., totals 140,276 square feet. The facility features 11 dock doors, three drive-in bays and 160 parking spaces. The two-tenant building was 43 percent occupied at the time of escrow. Stefan Pastor and Brad Yates of Stream Realty Partners represented TA Realty in the transaction. Real estate investment firm TA Realty has acquired, invested in or managed more than $36 …

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14950-Meridian-Parkway-Riverside-CA
CaliforniaIndustrialLoansWestern

IDS Receives $124M Loan for Cold Storage Facility in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — IDS Real Estate Group has received $124 million in post-close acquisition financing for 14950 Meridian Parkway, a cold storage facility in Riverside. Paul Brindley, Matt Stewart and Alethia Halamandaris of JLL Capital Markets arranged the 10-year, fixed-rate loan with Northwestern Mutual for the borrower. United Natural Foods (NYSE: UNFI), the largest publicly traded wholesale distributor serving the United States and Canada, fully occupies the 1.2 million-square-foot property, which is situated on 59.4 acres within the Moreno Valley/Perris Industrial submarket. Originally completed in 2017 and renovated and expanded in 2020, the facility consists of 39 percent cold storage and 61 percent dry storage space with temperature-controlled warehouse space ranging from -10 degrees Fahrenheit to 60 degrees Fahrenheit. The property features 42-foot clear heights, 185 dock doors and approximately 700 parking spaces.

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Stonefield-35-Buda
DevelopmentIndustrialTexas

EastGroup Properties Begins Construction on 275,559 SF Industrial Project in Buda, Texas

by Taylor Williams

BUDA, TEXAS — Mississippi-based developer EastGroup Properties has begun construction on Stonefield 35, a 275,559-square-foot industrial project in Buda, located south of Austin. The three-building facility will be situated on 21 acres and will be able to accommodate single or multiple users. Building features will include 28-foot clear heights, 180-foot truck court depths, ESFR sprinkler systems and ample car parking. Pross Design Group is the project architect, and RC Page Construction is the general contractor. Transwestern is the leasing agent. Completion is slated for mid-2023.

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IndustrialLeasing ActivitySouth CarolinaSoutheast

Pet Supplies Plus Signs 534,702 SF Industrial Lease in Orangeburg, South Carolina

by John Nelson

ORANGEBURG, S.C. — Pet Supplies Plus, a pet food retail chain based in Michigan, has fully leased a newly built, 534,702-square-foot industrial facility located within Shamrock Commerce Park in Orangeburg. NAI Earle Furman represented the landlord, Appian Investments, in the lease transaction. Pet Supplies Plus’ $53 million investment is expected to create 275 new jobs. Operations at the new distribution center are expected to begin in early 2023. The new facility is the fourth U.S. distribution center for Pet Supplies Plus, which operates 630 stores across 40 states. Appian’s project partners include Pacolet Milliken and Jim Roquemore.

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AcquisitionsIndustrialTexas

GID Acquires 62,496 SF Warehouse Near Austin-Bergstrom International Airport

by Taylor Williams

AUSTIN, TEXAS — National investment firm GID has acquired a 62,496-square-foot warehouse located at 4201 Supply Court, about one mile west of Austin-Bergstrom International Airport. The rear-load facility features 28-foot clear heights, 10 dock-high doors, two drive-in doors and three suites averaging 20,000 square feet. The seller and sales price were not disclosed.

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DevelopmentFloridaIndustrialSoutheast

Rooker Breaks Ground on 187,000 SF Industrial Building in Wesley Chapel, Florida

by John Nelson

WESLEY CHAPEL, FLA. — Rooker has begun construction on a 187,000-square-foot, Class A industrial building located at 7526 Old Pasco Road in Wesley Chapel. The facility is Building 1 within North Tampa Bay 75 Business Center, an 85-acre industrial park in metro Tampa located near a new I-75 interchange. North Tampa Bay 75 Business Center can accommodate up to 850,000 square feet of Class A industrial space across four buildings, according to Rooker. The Atlanta-based developer expects to complete construction on Building 1 in the first quarter of 2023. Rick Narkiewicz of Newmark is marketing the project for lease. The design-building team includes civil engineer Coastal Design, architectural firm Pieper O’Brien Herr Architects and general contractor Itasca Construction.

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AcquisitionsIndustrialLee & AssociatesNew JerseyNortheast

Lee & Associates Brokers $36.5M Sale Industrial Property in South Plainfield, New Jersey

by Taylor Williams

SOUTH PLAINFIELD, N.J. — Lee & Associates has brokered the $36.5 million sale of a 200,000-square-foot industrial property located at 18-20 Harmrich Road in South Plainfield, about 40 miles south of Manhattan. The two-building property sits on 18 acres and features clear heights of 28 feet, multiple loading docks and additional outdoor storage space. Rick Marchisio, Crista Governara and Drew Maffey of Lee & Associates represented the undisclosed seller and the buyer, Boston-based investment firm Marcus Partners, in the off-market transaction.

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AcquisitionsIndustrialNew YorkNortheast

TerraCRG Negotiates $8M Sale of Vacant Industrial Building in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm TerraCRG has negotiated the $8 million sale of a 17,900-square-foot vacant industrial building in Brooklyn’s Red Hook neighborhood. Dan Marks, Daniel Lebor and Jackson O’Neill of TerraCRG represented the seller, an entity doing business as Buttermilk Warehouse LLC, in the transaction. The name of the locally based buyer was not disclosed.

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DevelopmentGeorgiaIndustrialSoutheast

Seefried Properties Breaks Ground on 447,753 SF Industrial Facility in Adairsville, Georgia

by John Nelson

ADAIRSVILLE, GA. — Seefried Properties has broken ground on a 447,753-square-foot industrial facility in Adairsville, a city in North Georgia equidistant between Atlanta and Chattanooga. The project, dubbed Adairsville 75, is located near I-75 on a 36-acre site at 2334 Trimble Hollow Road, about 36 miles from the newly completed Appalachian Regional Port. Upon completion in June 2023, the new speculative distribution center will feature 36-foot clear heights, 50- by 53.4-foot column spacing, 94 dock doors (four drive-in), parking for 185 vehicles and an additional 71 spaces for trailers. Joseph Kriss and Tripp Ausband of Seefried, along with Austin Kriz and Tom Cromartie of JLL, will handle the marketing and leasing for the project. The design-build team includes general contractor The Conlan Co., civil engineer Eberly & Associates and architect of record Atlas Collaborative.

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