Industrial

Walker & Dunlop Arranges Construction Financing for $146M College Point Logistics Center in Queens

by Jeff Shaw March 24, 2023

NEW YORK CITY — Walker & Dunlop’s capital markets team has arranged $94 million in construction financing for the development of College Point Logistics Center in the College Point neighborhood of Queens, just across Flushing Bay from LaGuardia International Airport. A joint venture between Wildflower Ltd. and Drake Real Estate Partners is developing the project, with construction costs estimated at $146 million. College Point Logistics Center will be a ground-up warehouse and structured parking facility. The property will feature 81,000 square feet of rentable industrial space, as well as 160,000 square feet of enclosed parking across two floors and 68,000 square feet of surface-level parking. Wildflower designed the project with ground-floor warehouse space and multi-story parking to maximize the project’s efficiency and meet the needs of modern industrial and logistics tenants. College Point Logistics Center is located alongside the Whitestone Expressway, making it accessible to LaGuardia and John F. Kennedy International Airports, the New York and Atlantic Railways and the Red Hook Container Terminal. Development of the facility is scheduled for completion in the second quarter of 2024. Jonathan Schwartz, Aaron Appel, Mo Beler, Ari Hirt and Triston Stegall led the Walker & Dunlop team in securing the floating-rate loan on behalf of …

March 24, 2023

California Industrial Market Reports Western Western Market Reports

Orange County’s Industrial Sector Continues to Grow

by Jeff Shaw March 24, 2023

— By Jace Gan, Executive Vice President, Colliers — Before 2020, Orange County’s industrial base shrank due to developers opting to redevelop multifamily and creative office spaces. Historically tight market conditions limit the number of new leases, and rising interest rates price out many businesses looking to purchase a building. However, we are seeing a significant increase in industrial development across Orange County for the first time in a while. Orange County industrial properties have seen a pullback from institutions that were putting capital out the door. About 2.4 million square feet of new industrial space was constructed in 2022 — a significant increase over the 660,000-square-foot, five-year average. Setting Pace Most activity occurs in North County, which makes up 45 percent of OC’s industrial base. Irvine has remained the hub for more specialized uses related to aerospace, medical, etc. Key developments across the region are dictating the speed of future activity. Goodman recently developed a 1.5-million-square-foot, four-building logistics center in Fullerton. The overall size is rare for the OC, and was 89 percent pre-leased before completion. Samsung took two buildings totaling 1 million square feet. Sprouts took 337,000 square feet in another building. Sares Regis Group is redeveloping an …

March 24, 2023

Industrial Leasing Activity Texas

Samsung HVAC Signs 132,000 SF Industrial Lease Expansion at AllianceTexas in Fort Worth

by Taylor Williams March 23, 2023

FORT WORTH, TEXAS — Samsung HVAC America, the Korean electronics giant’s North American heating and cooling products division, has signed a 132,000-square-foot industrial lease expansion at AllianceTexas in Fort Worth. The company, a longtime tenant at AllianceTexas, now occupies all 360,000 square feet of Alliance Gateway 55. Mark Becker, Jay Benner, Adam Cooke and Lou D’Avanzo of Cushman & Wakefield represented the tenant in the lease negotiations. Samuel Rhea and Reid Goetz internally represented the landlord, Hillwood.

March 23, 2023

Acquisitions Arizona Industrial Western

CapRock Partners Purchases 130,800 SF Industrial Warehouse in Phoenix

by Jeff Shaw March 23, 2023

PHOENIX — CapRock Partners has purchased a 130,800-square-foot, Class A industrial building in Phoenix for an undisclosed sum. The industrial warehouse facility is located at 5810 W. Buckeye Road in the Loop 202 corridor in the southwest portion of the city. The space is pre-leased to Metrie, North America’s largest manufacturer and supplier of solid wood and composite moulding. Construction on the new industrial building was completed in the first quarter of this year, with Metrie set to take occupancy in the second quarter. Don and Payson MacWilliam of Colliers International is assisting CapRock Partners with the marketing of 5810 W. Buckeye Road. Mark Seale of Avison Young represented Metrie Inc.

March 23, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 5,400 SF Industrial Lease in Fort Worth

by Taylor Williams March 23, 2023

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 5,400-square-foot industrial lease at Riverbend Business Park in Fort Worth. The property consists of 32 buildings totaling roughly 1.4 million square feet. William Wilson and George Jennings of Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant, Tarrant Appraisal District, was not disclosed.

March 23, 2023

Development Industrial North Carolina Southeast

Collett Industrial to Develop 693,020 SF Northside 77 Business Park in Troutman, North Carolina

by John Nelson March 23, 2023

TROUTMAN, N.C. — Collett Industrial plans to develop Northside 77, a three-building industrial park in the northern Charlotte suburb of Troutman. Situated along I-77, the park will comprise Building 1 (217,620 square feet), Building 2 (340,200 square feet) and Building 3 (135,200 square feet). Collett Industrial has tapped Grant Miller and Phoebe Dinga of Colliers’ Charlotte office to handle the leasing assignment for the project. The Charlotte-based developer plans to break ground in the third quarter and deliver the park in the second half of 2024. Colliers’ Charlotte office is also the leasing agent for Collett’s Airport 85 Business Center industrial park in Charlotte.

March 23, 2023

Development Industrial Texas Top Stories

Sempra Releases Final Plans for $13B Liquid Natural Gas Export Terminal in Port Arthur, Texas

by Katie Sloan March 23, 2023

PORT ARTHUR, TEXAS — Sempra Infrastructure Partners, a subsidiary of energy infrastructure firm Sempra (NYSE: SRE), has released plans for Phase I of Port Arthur LNG, a $13 billion natural gas liquefaction and export terminal in Port Arthur. Phase I of the project will include two liquefaction trains capable of producing up to 13.5 million metric tons per annum (MTPA) of liquefied natural gas (LNG); up to three LNG storage tanks; marine facilities, including two marine berths for LNG vessel berthing and loading; natural gas liquids and refrigerant storage; feed gas pre-treatment and truck loading areas; and combustion turbine generators for on-site generation of electrical power. A three-mile portion of State Highway 87 between the Intracoastal Waterway and Keith Lake Pass will also be relocated to accommodate the development of Phase I, which is located along the Sabine-Neches ship channel, offering direct access to the Gulf of Mexico. Sempra has closed a joint venture with an affiliate of ConocoPhillips for Phase I of the project, which has been approved by the Federal Energy Regulatory Commission (FERC). The firm has also agreed to sell an indirect, non-controlling interest in the development to an infrastructure fund managed by KKR, and has closed …

March 23, 2023

Development Industrial Texas

ExxonMobil Begins $2B Expansion of Petrochemical Refinery in Beaumont, Texas

by Taylor Williams March 22, 2023

BEAUMONT, TEXAS — ExxonMobil has begun the $2 billion expansion of its petrochemical refinery in the East Texas city of Beaumont. The initiative was launched in 2019 but subsequently paused and delayed due to COVID-19. The plant was originally built in 1903 along the banks of the Neches River and has grown to encompass more than 2,700 acres and include manufacturing and packaging operations that employ more than 2,000 people on a daily basis. The Beaumont refinery processes some 366,000 barrels of crude oil per day, and the company expects that the expansion will increase that figure by an additional 250,000 barrels per day.

March 22, 2023

Industrial Leasing Activity Texas

Proactive Supply Chain Group Signs 227,300 SF Industrial Lease in Seabrook, Texas

by Taylor Williams March 22, 2023

SEABROOK, TEXAS — Proactive Supply Chain Group has signed a 227,300-square-foot industrial lease in Seabrook, about 30 miles southeast of Houston. The third-party logistics firm will occupy half the space at Bayport 146 Distribution Center, a cross-dock facility that was completed earlier this year by Transwestern Development Co. Carter Thurmond of Transwestern represented the tenant in the lease negotiations. Brian Gammill, Nick Peterson and Darryl Noon, also with Transwestern, represented the landlord, a fund backed by Ares Management that purchased the asset post-delivery.

March 22, 2023

Industrial Leasing Activity Texas

Avison Young Negotiates 45,846 SF Industrial Lease in Houston

by Taylor Williams March 22, 2023

HOUSTON — Avison Young has negotiated a 45,846-square-foot industrial lease at 8850 Fallbrook Drive in Houston. Anthony Squillante and Drew Coupe of Avison Young represented the tenant, Cougar USA, a supplier of water control systems, in the lease negotiations. Jeremy Lumbreras and William Carpenter of Stream Realty Partners represented the landlord, Prologis. Cougar USA will use the space, which includes 18,009 square feet for office usage, as its new headquarters and plans to move in this summer.

March 22, 2023

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