Industrial

Devli Real Estate Acquires 461,433 SF Industrial Property in Bedford, Pennsylvania

by Taylor Williams November 18, 2021

BEDFORD, PA. — Devli Real Estate has acquired a 461,433-square-foot industrial property that sits on a 38-acre site at 550 Sunnyside Road in Bedford, located in the southern-central part of the state. According to LoopNet Inc., the property was built in 1967 and renovated in 2006. The property features clear heights of 21 feet, 32 dock positions, proximity to Interstates 70 and 76 and units that range in size from 100,000 to 200,000 square feet. Gerry Blinebury of Cushman & Wakefield represented the buyer and the undisclosed seller in the transaction. The property was fully leased at the time of sale.

November 18, 2021

Utz-Quality-Foods-Sterling-Massachusetts

Acquisitions Industrial Massachusetts Northeast

Stan Johnson Co. Brokers Sale of 60,000 SF Industrial Building in Sterling, Massachusetts

by Taylor Williams November 18, 2021

STERLING, MASS. — Oklahoma-based Stan Johnson Co. has brokered the sale of a 60,000-square-foot industrial building in Sterling, located north of Worcester in the central part of the state. The property, which was built on 4.8 acres in 2006, was fully leased to Utz Quality Foods at the time of sale. Erik Lundberg of Stan Johnson Co. brokered the deal on behalf of the seller, a Massachusetts-based private investor. A Massachusetts-based institutional investor purchased the asset for $4.2 million.

November 18, 2021

Company News Features Heartland Feature Archive Hospitality Industrial Mixed-Use Multifamily Northeast Feature Archive Office Retail Southeast Feature Archive Texas & Oklahoma Feature Archive Western Feature Archive

Forecast Survey: What’s Your Take on Commercial Real Estate in 2022?

by John Nelson November 18, 2021

The editors of REBusinessOnline.com are conducting a brief online survey to gauge market conditions in 2022, and we welcome your participation. The survey should only take a few minutes to complete. Questions range from property sectors that you are most bullish on heading into 2022 to trends in deal volume to your outlook for interest rates. The results of our 11th annual survey will be collated and published in the January issues of our regional magazines. Conducting these surveys is part of our mission at France Media to provide readers with indispensable information, and we couldn’t do it without your help. To participate in our broker/agent survey, click here. To participate in our developer/owner/manager survey, click here. To participate in our lender/financial intermediary survey, click here. (Note: Please remember to click on “done” to properly submit the survey.)

November 18, 2021

Development Illinois Industrial Midwest

Conor Commercial Real Estate Completes Development of 436,500 SF Spec Industrial Building in Bartlett, Illinois

by Kristin Harlow November 17, 2021

BARTLETT, ILL. — Conor Commercial Real Estate has completed the development of Brewster Creek Commerce Center, a 436,500-square-foot speculative industrial building in the Chicago suburb of Bartlett. The developer has leased the entire building to Chicago-based Colony Display, which will use the facility for light manufacturing and warehousing space. The project is situated within a 670-acre business park that is home to tenants such as McKesson, Grego & Sons and Cheese Merchants of America. The building features a clear height of 36 feet, 54 truck docks, four drive-in doors, 125 trailer stalls and 340 automobile spaces. Brad Simousek, Ryan Kehoe and Mike Plumb of Lee & Associates represented Conor in the lease transaction. Luke Molloy, Jack Brennan and Mike Sedjo of CBRE represented Colony Display. The project team included McShane Construction Co., V3 Cos. and Harris Architects Inc.

November 17, 2021

Industrial Leasing Activity Midwest Missouri

Sensient Signs 300,481 SF Industrial Lease in St. Louis

by Kristin Harlow November 17, 2021

ST. LOUIS — Sensient Technologies Corp. has signed a 300,481-square-foot industrial lease at 255 Logistics Center in St. Louis. The company manufactures colors, flavors and fragrances. Sensient is leasing space currently occupied by Medline Industries, which is terminating its lease early and moving to a self-developed facility elsewhere in the market. The buildout for Sensient will include reconfiguring office space, the addition of locker rooms, dock upgrades and the installation of additional electric service and new lighting fixtures. SparrowHawk LLC owns the building, which was constructed in 2008. Patrick Reilly and Dave Branding of JLL represented SparrowHawk in the lease transaction. Matt Eastin of Cushman & Wakefield represented Sensient.

November 17, 2021

Acquisitions Industrial Kansas Midwest

Stan Johnson Co. Brokers $16.4M Sale of FedEx-Occupied Facility in Topeka, Kansas

by Kristin Harlow November 17, 2021

TOPEKA, KAN. — Stan Johnson Co. has brokered the sale of a FedEx-occupied distribution center spanning 26,892 square feet in Topeka for $16.4 million. The property is located at 5116 SW Wenger St. Built in 2015, the facility features 36 docks and ample trailer parking. Erik Lundberg of Stan Johnson represented the seller, a New Jersey-based investor group that acquired the property less than a year ago. A Wisconsin-based investor completing a 1031 tax-deferred exchange was the buyer. The sales price represents a cap rate of 5 percent.

November 17, 2021

North-Las-Vegas-Fulfillment-Center-North-Las-Vegas-NV

Development Industrial Nevada Western

Tapestry Breaks Ground on 788,000 SF North Las Vegas Fulfillment Center in Nevada

by Amy Works November 17, 2021

NORTH LAS VEGAS, NEV. — New York-based Tapestry Inc. has broken ground on North Las Vegas Fulfillment Center, an industrial property in North Las Vegas. Slated for completion in 2022, North Las Vegas Fulfillment Center will feature 788,000 square feet of distribution space. Serving retailers Coach and Kate Spade, the facility is designed to distribute an annual 22.2 million units and hold 4 million units in inventory for both retail and e-commerce. The project team includes Clarion Partners, Seefried Industrial Properties and JLL’s Kris Smith, Rob Lujan and Louis Tomaselli. Tapestry is a New York-based house of modern luxury accessories and lifestyle brands including Coach, Kate Spade New York and Stuart Weitzman.

November 17, 2021

Acquisitions Industrial Texas

HLCI Sells 700,000 SF Industrial Portfolio in Dallas Area to TA Realty

by Taylor Williams November 17, 2021

DALLAS — Locally based firm Holt Lunsford Commercial Investments (HLCI) has sold a portfolio of five shallow-bay industrial properties totaling approximately 700,000 square feet in the Dallas area to Boston-based investment firm TA Realty. The sales price was not disclosed. Two of the properties, Valwood Trade Center and Golden Bear Distribution Center, are located in Carrollton. The remainder of the portfolio consists of McKinney Logistics Center, Richardson Logistics Center and Edmonds Airport Trade Center, located in Lewisville. HLCI developed all of the assets between late 2020 and the summer of 2021.

November 17, 2021

Acquisitions Industrial Texas

Stan Johnson Co. Arranges Sale of 28,907 SF Industrial Facility in Longview, Texas

by Taylor Williams November 17, 2021

LONGVIEW, TEXAS — Oklahoma-based brokerage firm Stan Johnson Co. has arranged the sale of a 28,907-square-foot industrial facility in Longview, located about 120 miles east of Dallas. The two-building complex was constructed in phases in the 1970s and is leased to utilities contractor ADB Cos. and S&B Engineers. Evan Altemus of Stan Johnson Co. represented the seller, a locally based private investor, in the transaction. An undisclosed, California-based 1031 exchange purchased the asset at a cap rate of 9.3. percent.

November 17, 2021

Extra-Space-Storage-New-Bedford-Massachusetts

Development Industrial Massachusetts Northeast Self-Storage

True Storage Completes 627-Unit Self-Storage Facility in New Bedford, Massachusetts

by Taylor Williams November 17, 2021

NEW BEDFORD, MASS. — New Hampshire-based developer True Storage has completed a 627-unit self-storage facility in New Bedford, located south of Boston, that will be operated under the Extra Space Storage brand. The facility totals 55,600 net rentable square feet. True Storage acquired the site, which previously housed a recycling distribution center for Parallel Products, in 2020 and converted it to self-storage use.

November 17, 2021

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