Industrial

Miller Construction Breaks Ground on Two Warehouse Projects in Palm Beach County Totaling 318,000 SF

by John Nelson January 24, 2023

LAKE PARK AND WEST PALM BEACH, FLA. — Miller Construction Co. has broken ground on two warehouse projects totaling approximately 318,000 square feet in South Florida’s Palm Beach County. The developer of both facilities is Dalfen Industrial. The projects include a 184,880-square-foot warehouse located at 1100 Old Dixie Highway in Lake Park and a 133,075-square-foot facility located at 2850 Ranch House Road in West Palm Beach. The design-build team for both projects includes IBI Group’s RLC Architects, Puga & Associates Inc., DDA Engineers and Kimley-Horn & Associates. The developments represent a total investment of $29 million.

January 24, 2023

Arizona Development Industrial Western

TCC, CBRE Investment Complete 516,000 SF Elliot Gateway Logistics Center in Mesa, Arizona

by Amy Works January 24, 2023

MESA, ARIZ. — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management has completed construction of Elliot Gateway, a four-building, Class A logistics park on 40.5 acres at 9020 E. Elliot Road in Mesa. Elliot Gateway features a 151,239-square-foot Building A, a 124,611-square-foot Building B, a 186,000-square-foot Building C and a 54,640-square-foot Building D. Building C is fully leased to a mechanical and electrical construction company, while the other buildings are available for lease. Graycor Consrtuction Co. served as general contractor and Butler Design Group served as architect for the project. Evan Koplan and Serena Wedlich of CBRE are marketing and leasing the property on behalf of TCC and a fund sponsored by CBRE Investment Management.

January 24, 2023

Development Industrial Midwest Ohio

Becknell Industrial Underway on Development of 527,023 SF Spec Building in Columbus, Ohio

by Kristin Harlow January 24, 2023

COLUMBUS, OHIO — Becknell Industrial is underway on the development of Winchester 527, a 527,023-square-foot speculative industrial building in Columbus. The property will feature a clear height of 40 feet, roughly 2,000 square feet of office space, 436 auto parking spaces and 150 trailer parking spaces. Lee & Associates is marketing the project for lease. Completion is slated for later this year.

January 24, 2023

Development Industrial South Carolina Southeast

Hunt Midwest Delivers 476,280 SF Industrial Development in Lyman, South Carolina

by John Nelson January 23, 2023

LYMAN, S.C. — Kansas City-based Hunt Midwest has completed construction on Fort Prince Logistics Center, an industrial project comprising 476,280 square feet in Lyman, roughly 20 miles northeast of Greenville. Located within Fort Prince Industrial Park at 1090 Fort Prince Blvd., the cross-dock development features 48 dock positions with 36-foot clear heights, mechanical dock equipment, 7-inch concrete slab flooring, speculative office space, 189 surface parking stalls (expandable to 385), up to 125 tractor trailer parking stalls and a 135-foot-deep truck court. Seamon Whiteside provided civil engineering services; LS3P designed the building; and Evans General Contractors oversaw construction. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will handle leasing at the development.

January 23, 2023

Industrial Leasing Activity Texas

Metropolitan Hardwood Floors Signs 23,778 SF Industrial Lease Renewal in Coppell, Texas

by Taylor Williams January 23, 2023

COPPELL, TEXAS — Metropolitan Hardwood Floors has signed a 23,778-square-foot industrial lease renewal at Park West Crossing in Coppell, a northeastern suburb of Fort Worth. According to LoopNet Inc., the building at 435 Southwestern Blvd. sits on 4.9 acres and totals 61,399 square feet. Chicago-based investment firm ML Realty Partners owns Park West Crossing and was internally represented in the lease negotiations. Mike McElwee of Avison Young and Brian Bruininks of The Andover Co. represented the tenant.

January 23, 2023

Acquisitions Industrial Massachusetts Northeast

Berkeley Partners Acquires 215,575 SF Warehouse in Mansfield, Massachusetts

by Taylor Williams January 23, 2023

MANSFIELD, MASS. — Locally based investment firm Berkeley Partners has acquired a 215,575-square-foot warehouse in the southern Boston suburb of Mansfield. At the time of sale, the building was fully leased to an affiliate of global automotive manufacturer Stellantis, which also owned the facility and has agreed to lease back the space. Michael Restivo, Joe Fabiano, Dave MacDonald and Lenny Pierce of JLL negotiated the sale-leaseback. Brett Paulsrud, also with JLL, arranged acquisition financing for the deal.

January 23, 2023

Acquisitions Industrial New Jersey Northeast

Terreno Realty Corp. Sells Northern New Jersey Industrial Property for $25M

by Taylor Williams January 23, 2023

SOMERSET, N.J. — San Francisco-based investment firm Terreno Realty Corp. has sold an 86,000-square-foot industrial property located in the Northern New Jersey community of Somerset for $25 million. The property at 70 Schoolhouse Road sits on seven acres and was fully leased to a single tenant at the time of sale. Dan Badenhausen and Andrew Stypa of Lee & Associates represented the seller and procured the undisclosed buyer in the transaction.

January 23, 2023

Illinois Industrial Leasing Activity Midwest

MAI Fulfillment Signs 247,000 SF Industrial Lease in Elgin, Illinois

by Kristin Harlow January 23, 2023

ELGIN, ILL. — MAI Fulfillment has signed a 247,000-square-foot industrial lease at 2500 Galvin Drive in Elgin. MAI provides order processing, warehousing services and fulfillment solutions for its clients. The building features a clear height of 30 feet and 36 truck docks. Mike Berkowitz of Entre Commercial Realty represented the tenant. Steve Bass of NAI Hiffman represented the landlord, High Street Logistics Properties.

January 23, 2023

7402-7410-SE-Johnson-Creek-Blvd-Portland-OR

Acquisitions Industrial Oregon Western

Norris & Stevens Negotiates $7.6M Sale of Mt. Scott Industrial Park in Portland, Oregon

by Amy Works January 23, 2023

PORTLAND, ORE. — Norris & Stevens has arranged the sale of Mt. Scott Industrial Park, an industrial asset located at 7402-7410 SE Johnson Creek Blvd. in Portland. Frith Investments 3 acquired the asset from Mt. Scott Industrial Park LLC for $7.6 million. Nick Chessar and Scott Finney of Portland-based Norris & Stevens represented the seller, while Tyler Dean of Macadam Forbes represented the buyer in the transaction. Constructed in 1971 and 1976 on 3.6 acres, the 35,000-square-foot industrial park features office space in each suite, 48 parking spaces, eight grade-level doors and eight drive-in doors. Mt. Scott Industrial Park was 100 percent occupied at the time of sale.

January 23, 2023

Colorado Industrial Loans Self-Storage Western

PSRS Arranges $4.2M Refinancing for Church Ranch Self-Storage in Westminster, Colorado

by Amy Works January 23, 2023

WESTMINSTER, COLO. — PSRS has arranged a $4.2 million refinancing for Church Ranch Self-Storage in Westminster. The property features 663 self-storage units, climate control, high ceilings, electronic gate access and individually alarmed units. Kostas Kavayiotidis and Nicholas Drohan of PSRS secured the long-term, non-recourse loan with a 30-year amortization and flexible prepayment through a correspondent life insurance company. The borrower was not disclosed.

January 23, 2023

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