Industrial

Partnership Breaks Ground on 267,600 SF Industrial Facility in Leicester, Massachusetts

by Taylor Williams October 4, 2022

LEICESTER, MASS. — A partnership between The Brennan Group, John M. Corcoran & Co. and Berkeley Partners has broken ground on Gateway Central, a 267,600-square-foot industrial facility in Leicester, located outside of Worcester in the central part of the state. Building features will include a clear height of 36 feet, 45 overhead doors, three drive-in doors, 299 vehicle parking spaces and 59 trailer parking stalls. Completion is slated for the second quarter of next year. Newmark has been tapped as the leasing agent in conjunction with Kelleher & Sadowsky. HarborOne Bank provided construction financing.

October 4, 2022

Industrial Kentucky Market Reports Southeast Southeast Market Reports

Louisville’s Bulk Industrial Development Pipeline Surges in 2022

by John Nelson October 4, 2022

With vacancy in Louisville’s industrial bulk market sitting at 1.7 percent, an increase of supply is sorely needed. Fortunately, plenty is on the way. At the halfway point of 2022, over 9.5 million square feet of bulk inventory is under construction, with approximately 4.8 million square feet slated for completion by year-end. Due to the demand for big box distribution warehouse space, which skyrocketed due to COVID-19 and the increase of online ordering and e-commerce fulfillment, absorption (12.9 million square feet) outpaced construction (9.9 million square feet) to the tune of 3 million square feet, and depleted vacancies in the process. Average asking rent increased from $4.79 per square foot to $5.26 in the second quarter and is up 26.7 percent from $4.15 at this time last year. This can mainly be attributed to overall increase in demand and increased construction costs. With nearly 5 million square feet of new speculative product hitting the market by year-end, coupled with recent completions of approximately 3 million square feet and 1.6 million square feet of sublease space expected to hit the market in the near future, deal rates are expected to steady and could potentially decrease as competition among landlords increases over …

October 4, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of Two Warehouses Totaling 244,364 SF in Frisco

by Taylor Williams October 3, 2022

FRISCO, TEXAS — JLL has negotiated the sale of two warehouses totaling 244,364 square feet that are located within Star Commerce Center in Frisco. The rear-load buildings were delivered between 2020 and 2022 and feature 32-foot clear heights and roughly 15 percent office finishes. At the time of sale, the buildings were fully leased to tenants such as GEA Food Solutions and Vivint. Blue Star Land sold the property to Lincoln Property Co. for an undisclosed price. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL brokered the deal.

October 3, 2022

Acquisitions Industrial Texas

Refreshing USA Buys 35,000 SF Industrial Property in Dallas

by Taylor Williams October 3, 2022

DALLAS — Refreshing USA, a provider of food-and-beverage vending products and services, has purchased a 35,000-square-foot industrial property located at 2709 Electronic Lane in Dallas. According to LoopNet Inc., the property was built in 1979. Alex Wilson of Lee & Associates represented Refreshing USA, which also plans to occupy the facility, in the transaction. The name and representative of the seller were not disclosed.

October 3, 2022

Acquisitions Industrial Massachusetts Northeast

JLL Negotiates $36M Sale-Leaseback of Metro Boston Cold Storage Facility

by Taylor Williams October 3, 2022

HAVERHILL, MASS. — JLL has negotiated the $36 million sale-leaseback of a 108,689-square-foot cold storage facility located on the northern outskirts of Boston in Haverhill. Building features include clear heights of 27 to 40 feet, 12,000 pallet positions, 21 dock-high doors and 6,000 square feet of office space. Michael Restivo, Lenny Pierce and David Coffman of JLL represented the seller, an entity doing business as CF Cold Storage LLC, in the transaction. An affiliate of Cold Scout Storage purchased the facility and will lease it back to the seller on a short-term basis.

October 3, 2022

Acquisitions California Industrial Western

DAUM Brokers Acquisition of 38,233 SF Industrial Building in Long Beach, California

by Amy Works October 3, 2022

LONG BEACH, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial distribution property located at 3221 E. 59th St. in Long Beach. Metra Electronics sold the asset to a high-net-worth private investor for more than $11 million. Michael Collins and Dustin Hullinger of DAUM’s Capital Markets Group represented the buyer, while Brian Held and Rob Flores of CBRE represented the seller in the deal. Constructed in 1970 on nearly two acres, the 38,233-square-foot building features 22-foot warehouse ceiling heights, three dock-high truck positions and grade-level loading. Additionally, the property is fully fenced and secure and provides ample truck parking and storage area.

October 3, 2022

Acquisitions Illinois Industrial Midwest

Cawley Chicago Brokers Sale of 31,000 SF Industrial Building in Gurnee, Illinois

by Kristin Harlow October 3, 2022

GURNEE, ILL. — Cawley Chicago has brokered the sale of a 31,000-square-foot industrial building in Gurnee, a city in Northeast Illinois. The sales price was undisclosed. The property is located at 3940 Tannahill Drive. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the buyer, Imperial Lubes, which is relocating and expanding its operations from Elk Grove Village. Marc Samuels of Cushman & Wakefield represented the undisclosed seller.

October 3, 2022

Development Industrial Southeast Tennessee

PCCP, Distribution Realty Group to Build 815,530 SF Industrial Park in Metro Nashville

by John Nelson September 30, 2022

SPRING HILL, TENN. — A joint venture between PCCP LLC and Distribution Realty Group plans to develop Beechcroft Industrial Park, an 815,530-square-foot industrial project located at 825-845 Beechcroft Road in Spring Hill, about 38 miles south of Nashville. The three-building speculative project will be situated on a 63-acre site adjacent to the largest General Motors manufacturing facility in North America. The joint venture expects to break ground in October and deliver Beechcroft Industrial Park in November 2023.

September 30, 2022

Acquisitions Industrial Loans Oregon Western

Gantry Arranges $6.5M Acquisition Loan for Industrial/Flex Buildings Near Portland

by Amy Works September 30, 2022

LAKE OSWEGO AND TUALATIN, ORE. — Gantry has arranged $6.5 million in permanent financing for the acquisition of two cross-collateralized industrial/flex industrial assets near Portland. The properties include a 14,600-square-foot flex industrial building on Willow Lane in Lake Oswego, and Teton Business Center, a two-building, 45,000-square-foot industrial park in Tualatin. Adam Parker, Paddy Ryan and Bryant Bushnell of Gantry secured the financing on behalf of a longstanding borrower client, a family office partnership. Gantry secured the 20-year loan through one of its correspondent life companies. The financing features an interest rate below 5 percent, which locked at the time of application.

September 30, 2022

Acquisitions Illinois Industrial Midwest Self-Storage

Coldwell Banker Commercial Brokers $3.4M Sale of Self-Storage Facility in Montgomery, Illinois

by Kristin Harlow September 30, 2022

MONTGOMERY, ILL. — Coldwell Banker Commercial Real Estate Group has brokered the $3.4 million sale of the US 30 Self Storage property in Montgomery, about 45 miles west of Chicago. The self-storage facility consists of 278 enclosed units and 268 paved parking spaces for boats and RVs. The property was originally constructed in 2005 with additional units added in 2021. Richard Faltz of Coldwell Banker Commercial represented the undisclosed buyer. The seller was also not provided.

September 30, 2022

Newer Posts

Older Posts