Industrial

Glenstar Properties to Develop 290-Acre Industrial Park in Gaffney, South Carolina

by John Nelson February 15, 2023

GAFFNEY, S.C. — Glenstar Properties plans to develop Cherokee Commerce Center 85, a 290-acre industrial park in Gaffney, which is situated between the Greenville-Spartanburg market and Charlotte. Glenstar, along with capital partner Creek Lane Capital, will break ground this spring on the first building of the park, a 550,000-square-foot speculative warehouse that will be expandable to 1.3 million square feet. The cross-dock warehouse, dubbed Building 2, is expected to come on line in spring 2024 and feature 40-foot clear heights, up to 232 dock doors, four drive-in doors and parking for 452 trailers and 540 cars. At full buildout, Cherokee Commerce Center 85 will span 3.6 million square feet across five buildings. The design-build team includes architect Ware Malcomb, general contractor The Conlan Co. and civil engineer SeamonWhiteside. Glenstar has tapped Colliers to lease the park.

February 15, 2023

Acquisitions North Carolina Self-Storage Southeast

CBRE Negotiates $24.8M Sale of Self-Storage Facility in Chapel Hill, North Carolina

by John Nelson February 15, 2023

CHAPEL HILL, N.C. — CBRE has negotiated the $24.8 million sale of an 816-unit self-storage facility located at 12330 U.S.-15 501 North in Chapel Hill. Dallas-based Rosewood Property Co. purchased the 76,051-square-foot property from an entity doing business as Carolina Storage Partners LLC. CBRE’s Self Storage Advisory Group represented the seller in the transaction. Extra Space Storage operates the facility, which features climate-controlled units ranging in size from 20 to 300 square feet, as well as 67 wine storage units.

February 15, 2023

Industrial Loans Michigan Midwest

Schelin Uldricks & Co. Arranges $11.8M Acquisition Loan for Industrial Building in Lansing

by Kristin Harlow February 14, 2023

LANSING, MICH. — Schelin Uldricks & Co. has arranged an $11.8 million senior loan to finance the acquisition of a 147,258-square-foot industrial building in Lansing. The property is leased to a national credit tenant. Schelin Uldricks & Co. arranged the CMBS loan on behalf of the borrower, a national real estate investment manager. Loan terms were not provided.

February 14, 2023

Acquisitions California Industrial Western

Wimatex Acquires 85,165 SF Industrial Building in Carlsbad, California for $21M

by Amy Works February 14, 2023

CARLSBAD, CALIF. — Wimatex has purchased an industrial property, located at 2271 Cosmos Court in Carlsbad, from an undisclosed seller for $21 million. At the time of sale, the freestanding building was fully leased to a global medical device and technology company in the sleep and respiratory market. The 85,165-square-foot building features heavy power, six dock-high loading doors, three grade-level loading doors, 24-foot to 26-foot clear heights and drive-around access. Additional features include a high-image exterior, large outdoor amenitized entrance and a two-story lobby. Aric Starck and Drew Dodds of Cushman & Wakefield Capital Markets San Diego represented the seller in the deal.

February 14, 2023

Arizona Industrial Leasing Activity Western

Cubework Leases 916,150 SF Building at Cotton 303 Logistics Center in Glendale, Arizona

by Amy Works February 14, 2023

GLENDALE, ARIZ. — Cubework, a City of Industry, Calif.-based industrial co-working company, has signed a long-term lease to occupy a 916,150-square-foot industrial warehouse/distribution building in Glendale. The property is located within Cotton 303 Logistics Center at 6801 N. Cotton Lane. With this lease, Cubework now occupies nearly 2 million square feet of space in greater Phoenix metro. Cubework offers on-demand warehouse units and co-working spaces complete with on-site staff. Don MacWilliam and Payson MacWilliam of Colliers Arizona represented the landlord, Chicago-based Heitman Capital Management, while Kander Paciific represented Cubework in the lease negotiations.

February 14, 2023

Development Industrial Texas

Freehill Development Underway on 176,546 SF Industrial Project in Metro Austin

by Taylor Williams February 14, 2023

GEORGETOWN, TEXAS — Freehill Development Co. is underway on construction of 1300 Westinghouse, a 176,546-square-foot industrial project that will be located in the northern Austin suburb of Georgetown. The development will consist of four buildings that will range in size from 18,675 to 54,457 square feet and will feature 18- to 28-foot clear heights and 290 car parking spaces. Studio8 Architects designed the project, and Owrey Construction is serving as the general contractor. Completion is slated for July.

February 14, 2023

Acquisitions Industrial New York Northeast

Cushman & Wakefield Brokers $12.1M Sale of Industrial Outdoor Storage Site in Whitestone, New York

by Taylor Williams February 14, 2023

WHITESTONE, N.Y. — Cushman & Wakefield has brokered the $12.1 million sale of a 4.6-acre industrial outdoor storage site in Whitestone, located north of Queens. The site, which is also zoned to support 121,882 square feet of industrial development, comprises six lots that are leased to 12 tenants on short-term bases. Daniel Abbondandolo, Robert Kuppersmith and Joegy Raju of Cushman & Wakefield represented the undisclosed seller in the transaction. Brian Sarath, also with Cushman & Wakefield, represented the buyer, Top Rock Holdings.

February 14, 2023

Development Industrial Michigan Midwest Top Stories

Ford to Break Ground on $3.5B Electric Vehicle Battery Plant in Marshall, Michigan

by Katie Sloan February 14, 2023

MARSHALL, MICH. — Ford Motor Co. (NYSE: F) has unveiled plans for BlueOval Battery Park Michigan, a $3.5 billion lithium iron phosphate (LFP) electric vehicle battery plant in Marshall, a small city of about 7,000 residents located approximately 100 miles west of Detroit. The development will be the first automaker-backed LFP battery plant in the U.S., according to Ford, and will initially employ 2,500 workers upon completion in 2026. The site offers opportunity for further development, despite the fact that 245 acres of land along the Kalamazoo River will be placed into a conservation easement and protected against future industrial development. The plant will operate as a wholly owned subsidiary of Ford in partnership with global battery manufacturer Contemporary Amperex Technology Co. Limited (CATL). Under terms of the arrangement, Ford will manufacture its LFP battery cells utilizing services and knowledge from CATL. The company’s current roster of electric vehicles run on nickel cobalt manganese (NCM) batteries. By offering a second, lower-cost battery chemistry, the company will be able to expand its offering of electric vehicles with a variety of affordable new models. “Ford’s electric vehicle (EV) lineup has generated huge demand,” says Jim Farley, the company’s president and CEO. “To …

February 14, 2023

Industrial Leasing Activity Texas

BlueTriton Brands Signs 603,328 SF Industrial Lease in Lancaster, Texas

by Taylor Williams February 13, 2023

LANCASTER, TEXAS — BlueTriton Brands Inc., a Connecticut-based beverage provider, has signed a 603,328-square-foot, full-building industrial lease at 2900 West Drive in Lancaster, a southern suburb of Dallas. According to LoopNet Inc., the property was built on 41.6 acres in 2021 and features 40-foot clear heights. Canon Shoults, John Gorman and Mitch Cantwell of Holt Lunsford Commercial represented the landlord, Boston-based AEW Capital Management, in the lease negotiations. Caleb McCoy of JLL represented the tenant.

February 13, 2023

Development Industrial Kentucky Southeast

LioChem to Develop $104.4M Manufacturing Facility in Franklin, Kentucky

by John Nelson February 13, 2023

FRANKLIN, KY. — LioChem e-Materials LLC, a subsidiary of Toyo Ink SC Holdings Co. Ltd., will develop a new speculative manufacturing facility at 310 Ronnie Clark Drive in Franklin’s Interstate Industrial Park. Hal Johnson, Jamie Newell and Tak O’Haru of NAI Ready represented LioChem in the site selection and purchase of 26 acres for the project. The facility, which is projected to create 141 jobs, will produce carbon nanotube (CNT) dispersions — the cathode conductive material used to enhance the performance of lithium-ion batteries — for use in electric vehicles.

February 13, 2023

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