Industrial

General Motors to Invest $918M Across Four U.S. Manufacturing Plants

by Taylor Williams January 23, 2023

DETROIT — General Motors Co. (NYSE: GM) has announced plans to invest $918 million in capital improvements at four of its U.S. manufacturing plants. The initiative is designed to elevate the company’s production capacity for full-size trucks and sport utility vehicles while also establishing facilities that support the growth of GM’s electric vehicle (EV) divisions. The Detroit-based automotive giant is committing a total of $795 million to two of its Michigan facilities that will support the production of small-block V-8 engines. The company is investing $579 million at its plant in Flint, and the remaining $216 million will be allocated to GM’s facility in Bay City, where parts such as camshafts and connecting rods that support these engines will be assembled. GM is also investing $55 million in its manufacturing operations in Defiance, Ohio. Of this sum, $47 million will be used to prepare the facility for the manufacture of block castings to support future V-8 engine programs. In addition, GM will construct an $8 million casting development cell for future EV initiatives. Lastly, the company has earmarked $68 million for upgrades to its manufacturing facility in Rochester, New York. At this location, GM plans to invest $12 million to …

January 23, 2023

Acquisitions Development Georgia Industrial Southeast

CBRE Arranges Land Acquisition for 585,900 SF Industrial Park in Gainesville, Georgia

by John Nelson January 20, 2023

GAINESVILLE, GA. — CBRE has arranged the purchase of 56.8 acres of land in Gainesville, roughly 55 miles northeast of Atlanta, on behalf of the buyer, Logistics Property Co. The Gainesville and Hall County Development Authority sold the property to the developer for an undisclosed price. Logistics Properrty will develop a two-building, 585,900-square-foot industrial park at the site that will be called Gainesville 85 Business Center. Upon completion, the development will feature 32-foot clear heights, 128 trailer spaces and 422 auto parking spaces. Todd Barton, Mark Hawks, Joanna Blaesing and Matt Higgins of CBRE’s Industrial Properties Group in Atlanta represented the buyer in the land transaction and will handle leasing of the project.

January 20, 2023

Acquisitions Industrial Maryland Office Southeast

St. John Properties Acquires 120,000 SF Aviation Business Park in Metro Baltimore

by John Nelson January 20, 2023

GLEN BURNIE, MD. — Locally based St. John Properties has acquired Aviation Business Park, a three-building commercial portfolio comprising 120,000 square feet in Glen Burnie, approximately 10 miles south of Baltimore. St. John acquired the properties — located at 6956, 6958 and 6960 Aviation Blvd. — from Miami-based Adler Real Estate Partners for $13.3 million. The buildings were roughly 63 percent leased at the time of sale. St. John plans to invest $1.5 million to reposition one of the properties to flex/R&D space. Graham Savage, Jonathan Carpenter and Dawes Milchling of Cushman & Wakefield represented the seller in the transaction. St. John was self-represented. This marks the second significant acquisition for the company in recent months, following the purchase in November of Triangle Business Park, a 95 percent occupied, four-building portfolio in metro Baltimore comprising 74,000 square feet.

January 20, 2023

Acquisitions Industrial Self-Storage Texas

LandPark Advisors, Sunset Capital Acquire 1,440-Unit Self-Storage Portfolio in East Texas

by Taylor Williams January 20, 2023

HOUSTON — A joint venture between two Houston-based investment firms, LandPark Advisors and Sunset Capital, has acquired a portfolio of eight self-storage facilities totaling approximately 1,440 units. The facilities span 237,735 net rentable square feet and are scattered across several markets in East Texas, including Wylie, Hallsville, Flint, Longview and Carthage. The new ownership plans to implement a value-add program and has tapped Right Move Storage LLC to lead that initiative and manage the portfolio. Brandon Karr of Marcus & Millichap represented the seller, a private investment group based in East Texas, in the transaction, and procured the joint venture as the buyer. The sales price was not disclosed.

January 20, 2023

Industrial Loans Northmarq Office Texas

Northmarq Arranges Refinancing of 17,250 SF Industrial Flex Property in Houston

by Taylor Williams January 20, 2023

HOUSTON — Northmarq has arranged a loan of an undisclosed amount for the refinancing of a 17,250-square-foot industrial flex property located at 850 E. Little York Road in Houston. According to LoopNet Inc., the property was built in 1975 and features 12-foot clear heights, two dock-high doors and six drive-in doors. Michael Borden of Northmarq arranged the nonrecourse loan, which carried a five-year term, fixed interest rate and a 25-year amortization schedule. The borrower and direct lender were not disclosed.

January 20, 2023

800-Willowbrook-Road-Northampton-Pennsylvania

Acquisitions Industrial Northeast Pennsylvania

Rockefeller Group Sells Lehigh Valley Warehouse for $91M

by Taylor Williams January 20, 2023

NORTHAMPTON, PA. — New York City-based investment and development firm Rockefeller Group has sold a 453,600-square-foot warehouse located in the Lehigh Valley community of Northampton for $91 million. The site spans 36 acres and is located within the 1.8 million-square-foot Rockefeller Group Logistics Park. The cross-dock facility was completed in 2022 and features a clear height of 36 feet, four drive-in doors, 90 dock doors, 59 trailer stalls and 264 car parking spaces. John Plower, Ryan Cottone, Zach Maguire, Paul Torosian and Jeff Lockard of JLL represented Rockefeller Group in the transaction. The buyer was New York City-based Link Logistics.

January 20, 2023

Acquisitions Industrial Texas

Triten Real Estate Buys Three Industrial Outdoor Storage Sites Totaling 53.3 Acres in Houston

by Taylor Williams January 19, 2023

HOUSTON — Locally based investment and development firm Triten Real Estate Partners has purchased three industrial outdoor storage sites totaling 53.3 acres in Houston. The sites at 3004 Aldine Bender Road and 3434 Greens Road are both located on the city’s north side and total 35.3 acres and 6.8 acres, respectively. The third property, which is located at 15005 Crosby Freeway in northeast Houston, spans 11.2 acres. Triten acquired the properties, all of which house existing structures and have the capacity to support truck parking operations, in three separate, off-market transactions. The sellers and sales prices were not disclosed.

January 19, 2023

Industrial Loans Northmarq Office Texas

Northmarq Arranges $5.5M Acquisition Loan for Industrial Flex Property in Houston

by Taylor Williams January 19, 2023

HOUSTON — Northmarq has arranged a $5.5 million acquisition loan for a 72,649-square-foot industrial flex property in northeast Houston. Matt Franke of Northmarq arranged the loan, which carried a five-year term and a 25-year amortization schedule, through a national bank. The borrower was not disclosed. According to LoopNet Inc., the property at 6410 Cavalcade St. was built on 4.9 acres in 1976 and features 17- to 22-foot clear heights.

January 19, 2023

Acquisitions Development Industrial New Jersey Northeast

D2 Organization Acquires 48-Acre Industrial Development Site in Carneys Point, New Jersey

by Taylor Williams January 19, 2023

CARNEYS POINT, N.J. — An affiliate of regional investment firm D2 Organization has acquired a 48-acre industrial development site in Carneys Point, about 30 miles south of Philadelphia. The site, which was formerly known as Salem Business Center, comprises three vacant parcels totaling 35 acres, a 10-acre tract that houses a 78,000-square-foot building and an adjacent three-acre outparcel. Prior to closing, D2 Organization fully entitled the vacant land for the development of three buildings totaling 586,000 square feet. American Dream Realty represented D2 Organization in the land acquisition. The seller was The Delaware River & Bay Authority.

January 19, 2023

Acquisitions Industrial New Jersey Northeast

NAI Hanson Brokers Sale of 33,000 SF Industrial Building in Hasbrouck Heights, New Jersey

by Taylor Williams January 19, 2023

HASBROUCK HEIGHTS, N.J. — NAI James E. Hanson has brokered the sale of a 33,000-square-foot industrial building located in the Northern New Jersey community of Hasbrouck Heights. The building sits on a 1.5-acre site at 60 Railroad Ave. and features clear heights of 16 to 35 feet, as well as six drive-in doors. Andrew Somple and Justin Allessio of NAI Hanson represented the buyer and seller, both of which requested anonymity, in the transaction.

January 19, 2023

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