Industrial

Opus Breaks Ground on River Valley Business Park in Shakopee, Minnesota

by Kristin Harlow November 18, 2022

SHAKOPEE, MINN. — The Opus Group has broken ground on River Valley Business Park in Shakopee, a southwest suburb of Minneapolis. The speculative project will include a 150,000-square-foot building and a 300,000-square-foot building on 51 acres. The smaller facility will feature 42 dock doors, up to 214 auto parking stalls and a clear height of 28 feet. The larger building will include 74 dock doors, up to 413 auto parking stalls and a clear height of 32 feet. Completion is slated for late 2023. Opus is the developer, design-builder, architect and structural engineer for the project. Kris Smeltzer and Danny McNamara of Cushman & Wakefield will market the development for lease.

November 18, 2022

Development Industrial South Carolina Southeast

Janko, Cresset Partners Begin Construction on 1.5 MSF Industrial Park in St. George, South Carolina

by John Nelson November 17, 2022

ST. GEORGE, S.C. — A joint venture between Janko Group and Cresset Partners has broken ground on Port 95, a business park project in St. George that will span nearly 1.5 million square feet. The campus will feature three buildings: Building 1 will comprise 978,120 square feet, Building 2 will comprise 242,000 square feet and Building 3 will be 240,000 square feet in size. The first two buildings, which will be constructed simultaneously, are expected to be complete in spring 2024. Bridge Commercial will serve as the exclusive leasing agent on behalf of the ownership. Peak Construction Corp. is acting as the designer and builder for the site work, the first two buildings and the widening of Highway 78. Architects LS3P and McMillan Pazdan Smith will design Building 1 and Building 2, respectively. Seamon Whiteside is acting as the civil engineer for both buildings, as well as for the site work and highway widening.

November 17, 2022

Development Industrial Southeast Tennessee

Foundry Breaks Ground on 43-Acre Industrial Development in Metro Nashville

by John Nelson November 17, 2022

SMYRNA, TENN. — Foundry Commercial has broken ground on Creekside Logistics, a three-building, 43-acre industrial project located in Smyrna, roughly 25 miles southeast of Nashville. Building 1 will comprise 88,400 square feet, with Buildings 2 and 3 spanning 147,209 square feet and 135,200 square feet, respectively. Completion of the single-phase development is scheduled for late 2023. Synovus Bank is providing financing for the project, and Layton Construction is serving as the general contractor.

November 17, 2022

Acquisitions Georgia Industrial Office Southeast

Atlanta Property Group Acquires Three Industrial Facilities, One Office Asset in Metro Atlanta for $48.7M

by John Nelson November 17, 2022

KENNESAW, GA. — Atlanta Property Group (APG) has acquired three industrial facilities and one office property in the northwest Atlanta suburb of Kennesaw for $48.7 million. The seller was not disclosed. The portfolio comprises three warehouse facilities totaling 305,000 square feet located near Chastain Road and I-75. The rear-load buildings, which were constructed in the mid-1990s, feature 24-foot clear heights and were fully leased at the time of sale to six tenants. The lone office property spans 72,000 square feet and was 73 percent leased at the time of sale. Built in 2000, the property is situated near Kennesaw State University and the I-75/I-575 interchange. Austin Chase and Grace Thompson of APG are handling leasing of the office building.

November 17, 2022

Acquisitions California Industrial Western

Stos Partners Sells 37,530 SF Industrial Facility in Poway, California

by Amy Works November 17, 2022

POWAY, CALIF. — Stos Partners has completed the disposition of a corporate headquarters and manufacturing building located at 13955 Stowe Drive in Poway. A private buyer acquired the asset for $13.9 million. Automation NTH, an automated manufacturing systems company, leases the 37,530-square-foot facility, which was built in 1999 and underwent renovations earlier this year. The building features two dock-high and two grade-level loading doors, 24-foot warehouse ceilings, an 88-stall parking lot, 800 to 1,600 amps of power and a 3,000-square-foot wet fire suppression system. Recent renovations include a new roof, HVAC system replacement within the warehouse, interior upgrades and exterior improvements to the parking lot and landscape. James Duncan and Mickey Morera of Kidder Mathews represented the seller, while Rusty Williams and Chris Roth of Lee & Associates represented the buyer in the deal.

November 17, 2022

Acquisitions Industrial Texas

Cohen Asset Management Buys 698,880 SF Industrial Facility in Wilmer, Texas

by Taylor Williams November 17, 2022

WILMER, TEXAS — Southern California-based investment firm Cohen Asset Management has purchased Sunridge II, a 698,880-square-foot industrial facility located in the southern Dallas suburb of Wilmer. The cross-dock building was delivered in 2022 and is located off I-45 within one mile of the Union Pacific Intermodal Terminal. Building features include 40-foot clear heights, 138 dock doors, four drive-in ramps, an ESFR sprinkler system and 10,000 square feet of office space. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented the seller, Indianapolis-based Scannell Properties, in the transaction. The sales price was not disclosed.

November 17, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sales of Three San Antonio Self-Storage Facilities Totaling 650 Units

by Taylor Williams November 17, 2022

SAN ANTONIO — Marcus & Millichap has arranged the sales of three self-storage facilities in San Antonio totaling 89,815 net rentable square feet across 650 units. The properties include Comal Ridge Self Storage, located at 23995 Bat Cave Road; Garden Ridge Self Storage, located at 22480 FM 3009; and Palo Alto Self Storage, located at 9018 Poteet Jourdanton Freeway Access Road. Jon Danklefs of Marcus & Millichap represented the three limited liability companies that sold the assets in the transactions. Each facility was purchased by a different buyer, with all parties requesting anonymity.

November 17, 2022

Acquisitions Industrial Midwest Ohio

Matthews Arranges $9M Sale of Industrial Building in Elyria, Ohio

by Kristin Harlow November 17, 2022

ELYRIA, OHIO — Matthews Real Estate Investment Services has arranged the $9 million sale of a 256,595-square-foot industrial building in Elyria, a southwest suburb of Cleveland. The property sits on 15.5 acres at 860 Garden St. Matt Kovesdy and Jonah Yullish of Matthews represented the seller, a local partnership that purchased the property in the early 2000s as a value-add opportunity. The buyer, Dura-Line, is also a tenant at the facility. Dura-Line elected to purchase due to the building’s importance to its operations, according to Matthews. The transaction closed at $500,000 above the listing price.

November 17, 2022

Illinois Industrial Leasing Activity Midwest

Brown Commercial Group Negotiates Two New Industrial Leases in Hodgkins, Illinois

by Kristin Harlow November 17, 2022

HODGKINS, ILL. — Brown Commercial Group has negotiated two new leases totaling 131,605 square feet at 7335 Santa Fe Drive in Hodgkins, a southwest suburb of Chicago. Pioneer Service Inc. leased 61,355 square feet and M&M Quality Grinding Inc. leased 70,250 square feet. The distribution building is being renovated into a fully operational manufacturing facility with individual spaces for the two businesses. Completion is slated for mid-2023. Mike Antonelli of Brown Commercial Group represented the tenants. Adam Stokes of NAI Hiffman represented the landlord, UBS Realty Investors. Pioneer Service manufactures precision machining parts, while M&M produces metal bar stock.

November 17, 2022

Alabama Development Industrial Southeast Top Stories

First Solar Plans $1.1B Solar Module Manufacturing Facility in Northern Alabama

by Katie Sloan November 17, 2022

DECATUR, ALA. — First Solar Inc. (NASDAQ: FSLR) has announced plans to develop a $1.1 billion solar module manufacturing facility within Mallard Fox Industrial Park in Decatur, located near the Tennessee River southwest of Huntsville. The factory will contribute 3.5 gigawatts (GWDC) of renewable power each year and create over 700 new jobs for the state of Alabama upon its completion in 2025, according to the developer. First Solar hopes to expand its American manufacturing footprint to over 10 GWDC and a total investment of $4 billion in the coming years. The company currently has two factories operating in the state of Ohio with a third scheduled for completion during the first half of 2023, and several research and development (R&D) centers in California and Ohio. First Solar recently said it would expand its operations in the United States following passage of the Inflation Reduction Act (IRA), which provides tax credits for domestically produced clean energy equipment. “The passage of the Inflation Reduction Act of 2022 has firmly placed America on the path to a sustainable energy future,” says Mark Widmar, CEO of First Solar. “Our Alabama facility, along with its sister factories in Ohio, will form part of the …

November 17, 2022

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