Industrial

Woodmont Industrial, EverWest Underway on 210,000 SF Expansion, Renovation in South Brunswick, New Jersey

by Taylor Williams January 18, 2023

SOUTH BRUNSWICK, N.J. — Locally based developer Woodmont Industrial and Denver-based EverWest Real Estate Investors are underway on a 210,000-square-foot expansion and renovation project in South Brunswick, about 50 miles south of Manhattan. The partnership will renovate a 145,000-square-foot facility at 461 Ridge Road and develop a new, 65,000-square-foot facility. Upon completion, which is slated for this summer, the property will feature a clear height of 32 feet, 30 loading doors and four drive-in doors. Bussel Realty Corp. is marketing the property for lease.

January 18, 2023

Development Florida Industrial Loans Southeast

JLL Arranges $45.1M Construction Loan for Industrial Project in Metro Orlando

by John Nelson January 18, 2023

OCOEE, FLA. — JLL has arranged a $45.1 million construction loan for Commerce 429, an eight-building industrial park located on a 40-acre site at 1290 Ocoee Apopka Road in the Orlando suburb of Ocoee. The borrower, locally based industrial developer McCraney Property Co., plans to develop Commerce 429 in two phases, the first of which will comprise six rear-load buildings with sizes ranging from 27,000 to 131,000 square feet. Phase II will feature two rear-load buildings spanning approximately 76,000 square feet and 95,000 square feet. Melissa Rose, Michael DiCosimo and Mateo Bolivar of JLL arranged the four-year loan through an undisclosed lender on behalf of McCraney.

January 18, 2023

Acquisitions Industrial Michigan Midwest

DealPoint Merrill Acquires 95,000 SF Industrial Facility in Redford, Michigan

by Kristin Harlow January 18, 2023

REDFORD, MICH. — DealPoint Merrill has acquired a 95,000-square-foot industrial facility in Redford, a western suburb of Detroit. The purchase price and seller were undisclosed. DealPoint Merrill plans a $9 million renovation that is expected to commence this quarter. David Frank and Sterling McGregor of DealPoint Merrill negotiated the transaction and handled the due diligence for the sale, respectively. Jason Limbert and Tyler Bendicksen of DealPoint Merrill completed the acquisition and underwriting, while Dave Rumsey of DealPoint Merrill’s capital markets division assisted with the equity-backed securities. Anthony Pellegrino III of P.A. Commercial represented the seller.

January 18, 2023

Acquisitions Industrial Midwest Minnesota Wisconsin

MAG Capital Partners Acquires Two Midwest Industrial Facilities in Sale-Leaseback

by Kristin Harlow January 17, 2023

LITCHFIELD, MINN. AND MONROE, WIS. — MAG Capital Partners LLC has acquired two industrial facilities totaling 205,410 square feet in Minnesota and Wisconsin in a sale-leaseback transaction with Monroe Truck Equipment Inc. The sales price was undisclosed. One of the properties totals 162,170 square feet and is located in Litchfield, Minn. The other spans 43,240 square feet and is situated in Monroe, Wis. Founded in 1958 in Wisconsin, Monroe Truck Equipment specializes in snow and ice control equipment, towing and service bodies. In 2021, the company joined Aebi Schmidt Group, a Switzerland-based infrastructure and terrain maintenance firm. Daniel Macks and Jonathan Wolfe of STREAM Capital Partners represented the seller. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is based in Dallas.

January 17, 2023

Moreno-Valley-Logistics-Center-Moreno-Valley-CA

Acquisitions California Industrial Western

Dalfen Industrial Acquires 95,922 SF Moreno Valley Logistics Center in California

by Amy Works January 17, 2023

MORENO VALLEY, CALIF. — Dalfen Industrial has purchased Moreno Valley Logistics Center, an industrial property situated less than three miles from Interstate 215 in Moreno Valley. Terms of the transaction were not released. Moreno Valley Logistics Center features 95,922 square feet of industrial space. The asset is in close proximity to State Route 60 and State Route 91, enabling east-west connectivity including to the Port of Long Beach and Port of Los Angeles.

January 17, 2023

Data Centers Development Oregon Top Stories Western

Crane, Principal Asset Management to Develop Data Center Campus Near Portland, Oregon

by John Nelson January 17, 2023

FOREST GROVE, ORE. — Crane Data Centers Inc. and Principal Asset Management plan to develop a data center campus in Forest Grove, a suburb of Portland. The campus will be situated near the Hillsboro data center ecosystem, which houses data centers for users including Meta, Twitter and Microsoft, among others. The estimated development cost for the project was not disclosed. “We’re honored to partner with Principal Real Estate Investors to develop a new data center campus in the Portland market,” says Matt Pfile, CEO of Crane. “This strategic partnership with Crane and data center investment in the Portland area is an exciting project for all parties involved and makes for an excellent addition to our current portfolio of data centers,” says Ben Wobschall, managing director of real estate at Principal Asset Management. The first phase of the project includes a data center spanning approximately 300,000 square feet on a 35-acre site. The facility will have an initial capacity of 50 megawatts (MW) with plans to expand to over 100 MW, according to the developers. The two-story property will have 30-foot clear heights with flooring that can support 400 pounds per square foot, according to Crane. The construction timeline for Phase …

January 17, 2023

Industrial Market Reports Texas Texas Market Reports

Houston’s Outlying Submarkets Offer Promising Industrial Opportunities

by Taylor Williams January 17, 2023

By David Ebro, president of Levey Group Despite the nearly 6.4 million square feet of new project starts during the fourth quarter of 2022, which grew the volume of Houston’s industrial space currently under construction to 33.5 million square feet, the market posted a record 30.3 million square feet of net absorption for the year. This activity drove Houston’s vacancy rate down to 3.8 percent — a decline of 220 basis points from the end of 2021. The remarkable growth throughout the Houston MSA — the nation’s fourth-largest metropolitan area — has developers racing to find buildable sites both within and beyond the city limits. As a result, industrial development is bulging out of the city and into submarkets such as Baytown, Richmond and Brookshire as developers pursue more economically feasible land among these growing population centers. Beyond favorable land opportunities, Houston’s outlying submarkets offer the workforces that tenants require for their warehouse and distribution operations. These growing submarkets are also generating an increasing amount of demand from e-commerce users in the consumer goods sector. Record Growth East of Houston Much of the industrial growth can be found east of town, near and along the Houston Ship Channel. For the …

January 17, 2023

Development Georgia Industrial Southeast

MDH Partners, Hight Knox Deliver 420,750 SF Warehouse in Shannon, Georgia

by John Nelson January 16, 2023

SHANNON, GA. — MDH Partners and Hight Knox Properties have delivered Hillman Group Building, a 420,750-square-foot warehouse situated on nearly 60 acres at 6695 New Calhoun Highway NE in Shannon. The property was a build-to-suit for The Hillman Group, a building solutions and hardware supplier firm based in Cincinnati. Currently the firm operates three separate facilities in the Georgia cities of Rome, Smyrna and Adairsville. The new Shannon warehouse will support 200 jobs, including 144 transferring from an existing location. Hillman Group Building features 210 parking spaces, 107 exterior dock doors and 36-foot clear heights.

January 16, 2023

Acquisitions Industrial Washington Western

Formost Fuji Acquires Industrial Building in Everett, Washington for $20M

by Amy Works January 16, 2023

EVERETT, WASH. — Woodinville, Wash.-based Formost Fuji, a manufacturer in the packaging industry, has purchased a manufacturing and industrial building located at 905 80th St. SW in Everett. MTorres America sold the asset for $20 million. Situated on 14.9 acres, the property features a 65,344-square-foot building with capacity for warehouse expansion of up to 32,000 square feet. MTorres America, an aerospace manufacturing company, previously occupied the building. Zach Vall-Spinosa and James Leptich of Kidder Mathews represented the buyer in the deal.

January 16, 2023

Acquisitions Industrial Washington Western

Sienna Technologies Buys Industrial Building in Mukilteo, Washington

by Amy Works January 16, 2023

MUKILTEO, WASH. — Sienna Technologies has acquired an industrial property located in the Harbour Pointe neighborhood of Mukilteo, approximately 25 miles north of Seattle. UMC Inc., a medical contractor, sold the asset for $8.2 million. Zach Vall-Spinosa and Ryan Foster of Kidder Mathews represented the buyer in the deal. Located at 11611 49th Place W., the property features 36,000 square feet of standalone industrial flex space on two acres. Based in Woodinville, Sienna Technologies manufactures aluminum nitride ceramics, including some used for electric propulsion in space exploration appliances.

January 16, 2023

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