Industrial

Pepsi Buys 152 Acres in Denver to Develop 1.2 MSF Manufacturing Plant

by Jeff Shaw July 15, 2022

DENVER — PepsiCo Beverages North America (PBNA), a subsidiary of food and beverage giant PepsiCo Inc. (NASDAQ: PEP), has acquired nearly 152 acres of land in Denver. The company plans to build a 1.2 million-square-foot manufacturing facility on the site, which will be its largest in the country. The project will be triple the size of Pepsi’s existing facility in Denver’s River North Art District, where the company has operated since the 1950s. The new plant is scheduled to open in 2023 and will produce a variety of the company’s name-brand beverages, such as Pepsi, Pepsi Zero Sugar, Gatorade, bubly, Rockstar, Propel and Muscle Milk. The site is located within the Denver High Point development area, a massive, 5 million-square-foot industrial park currently under construction approximately 18 miles east of downtown near Denver International Airport. The new Pepsi plant will be the company’s most sustainable yet, according to the company, with plans for 100 percent renewable electricity, best-in-class water efficiency and reduced virgin plastic use. The initiative is part of Pepsi’s “pep+” pledge to positively impact the planet. Pepsi says the new location will also create 250 new jobs, in addition to the 250 employees already working at the downtown …

July 15, 2022

Industrial Loans Midwest Ohio

Northmarq Arranges $3.2M Loan for Refinancing of Industrial Property in Cincinnati

by Kristin Harlow July 15, 2022

CINCINNATI — Northmarq has arranged a $3.2 million loan for the refinancing of Kemper Commerce Park in Cincinnati. The 145,485-square-foot industrial property consists of two buildings. Christina Grimme of Northmarq arranged the 10-year, fixed-rate loan, which features a 20-year amortization schedule. A life insurance company provided the loan for the undisclosed borrower.

July 15, 2022

Development Illinois Industrial Midwest

Brennan to Develop Industrial Build-to-Suit for Zippy Shell in Bartlett, Illinois

by Kristin Harlow July 15, 2022

BARTLETT, ILL. — Brennan Investment Group will develop a 118,800-square-foot industrial build-to-suit for Zippy Shell Inc. in Blue Heron Business Park in Bartlett. Zippy Shell is a portable storage and moving company that delivers storage containers directly to the end user’s home or business. Jack Brennan of CBRE assisted the developer in acquiring a seven-acre site within the industrial park. A construction timeline was not provided.

July 15, 2022

Industrial Leasing Activity Texas

Carolina Beverage Group Signs 493,920 SF Industrial Lease Expansion in Fort Worth

by Taylor Williams July 15, 2022

FORT WORTH, TEXAS — Carolina Beverage Group, which provides manufacturing, packaging and distribution services for the beverage industry, has signed a 493,920-square-foot industrial lease expansion at AllianceTexas in North Fort Worth. The tenant has occupied space at AllianceTexas for nearly a decade and now has a total footprint of 695,124 square feet. Carolina Beverage Group’s new space features 36-foot clear heights, 135-foot truck court depths and ample trailer parking.

July 15, 2022

Industrial Leasing Activity New Jersey Northeast

IDI Logistics Signs Home Improvement Retailer to 111,111 SF Industrial Lease in Passaic, New Jersey

by Taylor Williams July 15, 2022

PASSAIC, N.J. — Atlanta-based IDI Logistics has signed a 111,111-square-foot, full-building industrial lease with an undisclosed home improvement retailer at 26 Jefferson St. in the Northern New Jersey community of Passaic. The facility sits on 7.5 acres and features a clear height of 40 feet, 27 docks, two drive-in doors and parking for 61 cars and eight trailers. David Knee and Chris Hile of JLL represented IDI Logistics in the lease negotiations.

July 15, 2022

Development Industrial Massachusetts Northeast

Vantage Builders Delivers 100,000 SF Cannabis Cultivation Facility in Metro Boston

by Taylor Williams July 15, 2022

WALTHAM, MASS. — General contractor Vantage Builders has delivered a 100,000-square-foot cannabis cultivation facility in the western Boston suburb of Waltham for wholesale provider Greencare Collective. The facility features vegetation rooms; six 9,500-square-foot grow rooms; cultivation process rooms for drying, trimming, curing and packaging; vault storage; and a commercial kitchen for the creation of cannabis edibles. The second floor has office space, and a 2,000-square-foot dispensary located in the front of the building is scheduled to open this summer. The project team included BKA Architects, BLW Engineers (MEP), McClure Engineering (civil) and Trinity Engineering (structural).

July 15, 2022

Acquisitions Arizona Industrial Western

Koll Co. Buys Industrial Portfolio in Phoenix for $13.7M in Sale-Leaseback Deal

by Amy Works July 14, 2022

PHOENIX — The Koll Co. has purchased a two-building industrial portfolio, totaling 65,594 square feet in southwest Phoenix. JFN Mechanical sold the properties for $13.7 in an off-market transaction. The portfolio consists of a 32,608-square-foot building, delivered first-quarter 2022, at 4587 W. McDowell Road that is fully leased to Phoenix WinSupply, and a 32,986-square-foot facility at 5127 W. Roosevelt St. that JFN will continue to occupy through the sale-leaseback agreement. JFN Mechanical is a plumbing contractor that works exclusively on student housing, multifamily, seniors housing and hospitality construction projects. The property at 4587 W. McDowell Road features 24-foor clear heights, 1,200 square feet of office space, dock and grade doors, evaporative cooling systems, LED lighting, ESFR sprinklers and a fully secured truck court. The facility at 5127 Roosevelt St. features 24-foot clear heights, 3,000 square feet of office space, dock and grade doors, evaporative cooling systems, LED lighting, ESFR sprinklers and a fully secure truck court. Phil Haenel and Will Strong of Cushman & Wakefield represented both parties in the portfolio sale and leaseback.

July 14, 2022

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Brokers $64M Sale of New Distribution Center in Winston-Salem

by John Nelson July 14, 2022

WINSTON-SALEM, N.C. — Cushman & Wakefield has brokered the $64 million sale of Union Cross Distribution Center, a newly built logistics center located at 4051 Wallburg Road in Winston-Salem. The developer, Front Street Capital, sold the 610,000-square-foot facility to Galaxy Investments LLC, an affiliate of The Halle Cos. Rob Cochran, Nolan Ashton, Bill Harrison, Stewart Calhoun, Casey Masters, Bobby Finch, Jason Ofsanko and Hap Royster of Cushman & Wakefield represented the seller in the transaction. Union Cross Distribution Center was fully leased to an undisclosed tenant at the time of sale. The property features 40-foot clear heights, cross-dock loading, LED lighting, concrete tilt-wall construction and access to the Triad’s major transportation arteries along with Piedmont Triad International Airport. It is also located adjacent to the established Union Cross Business Park, a 403-acre industrial park.

July 14, 2022

Development Georgia Industrial Leasing Activity Mixed-Use Southeast

Jamestown Signs Defense Tech Firm to 180,000 SF Industrial Lease in Atlanta

by John Nelson July 14, 2022

ATLANTA — Jamestown has signed Anduril Industries, a defense tech firm, to an 180,000-square-foot industrial lease at Allied Studios, a three-building mixed-use campus located at 1435 Hills Place in Atlanta’s Upper Westside district. Anduril will invest $60 million and bring 180 jobs to the new manufacturing and research facility. The facility will house Area-1, a subsidiary of Anduril that manufacturers unmanned aircraft systems. When complete, Area-1 will operate offices, research and development space and production space across two buildings at Allied Studios. Capital Real Estate Group represented Jamestown in the lease transaction, and Hughes Marino represented Anduril.

July 14, 2022

Development Industrial Texas

Liberty Development Partners Buys 1,158-Acre Industrial Development Site in Houston

by Taylor Williams July 14, 2022

HOUSTON — Liberty Development Partners, a joint venture between locally based firms Connor Investment Real Estate and Logistics & Development Resources, has purchased Gulf Inland Logistics Park, a 1,158-acre industrial development site in Houston. The shovel-ready site is located at the intersection of the Grand Parkway and U.S. Highway 90 on the city’s east side. Liberty Development Partners also acquired CMC Railroad, a freight provider and service network within Gulf Inland Logistics Park that connects to the BNSF Railway and the Union Pacific Railroad. Prior to this deal, the joint venture acquired a 200-acre adjacent parcel to allow for expansion of the site. Construction plans and timelines for the existing Gulf Inland Logistics Park site and the adjacent tract have not yet been finalized. Trez Capital provided $66.5 million in acquisition financing for the joint venture’s purchase of CMC Railroad and an undisclosed portion of the land that will house the first phase of industrial development.

July 14, 2022

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