Industrial

Contegra Construction Completes 70,000 SF Headquarters for Diode Dynamics Near St. Louis

by Kristin Harlow May 6, 2022

ST. CHARLES, MO. — Contegra Construction has completed a 70,000-square-foot headquarters and manufacturing facility for Diode Dynamics at Fountain Lakes Commerce Center in St. Charles, a northwest suburb of St. Louis. Diode Dynamics, an automotive LED lighting manufacturer, is relocating from Earth City and plans to add 36 new positions over the next five years. The company currently employs 90 people. The new property in St. Charles features a showroom, two drive-in engineering bays, an electronics manufacturing area, engineering laboratory, two-story office space and a warehouse with a clear height of 30 feet. Joining Contegra on the project were Remiger Design, BAX Engineering, SSC Engineering, Kaemmerlen Electric, O.J. Laughlin Plumbing Co. Inc., Wiegmann Associates and Bi-State Fire Protection Corp. Bank of Franklin County provided project financing. James Delgado of Cozad Commercial Real Estate and David Zobel of Danna McKitrick PC represented Diode Dynamics.

May 6, 2022

Development Georgia Industrial Leasing Activity Southeast

Duke Realty Signs Newline Interactive to 113,400 SF Industrial Lease Near Port of Savannah

by John Nelson May 5, 2022

GARDEN CITY, GA. — Duke Realty Corp. has signed Newline Interactive, a manufacturer of touch display screens and other interactive communication hardware, to a 113,400-square-foot industrial lease approximately two miles from the Port of Savannah. The tenant will fully occupy a speculative facility currently under development at 15 Aviation Court in Garden City, which is situated on a nearly 10-acre site. The facility is designed to achieve LEED certification and will feature a clear height of 30 feet, 30 dock doors and 32 trailer parking spots. Cushman & Wakefield | Gilbert & Ezelle served as the tenant representative for the lease negotiations, and Brian Sutton represented Duke Realty internally. The lease with Newline brings Duke Realty’s 8.2 million-square-foot portfolio in the Savannah area to full occupancy.

May 5, 2022

Middlebrook-Crossroads-Bridgewater-New-Jersey

Acquisitions Industrial New Jersey Northeast

Lovett Industrial Acquires 580,277 SF Industrial Park in Bridgewater, New Jersey

by Taylor Williams May 5, 2022

BRIDGEWATER, N.J. — Houston-based investment firm Lovett Industrial, in partnership with an undisclosed capital source, has acquired Middlebrook Crossroads, a 580,277-square-foot industrial park in the Northern New Jersey community of Bridgewater. The development comprises 18 buildings with an average size of 32,000 square feet on a 38.6-acre site. At the time of sale, Middlebrook Crossroads was close to fully leased to 28 tenants including UPS, Lexus and SCP Distributors. Gary Gabriel, Kyle Schmitt, David Bernhaut and Ryan Larkin of Cushman & Wakefield brokered the deal. The seller was not disclosed.

May 5, 2022

Illinois Industrial Leasing Activity Midwest

CEVA Logistics, Expeditors International Sign Industrial Leases at Bridge Point Melrose Park

by Kristin Harlow May 5, 2022

MELROSE PARK, ILL. — CEVA Logistics and Expeditors International have signed leases at Bridge Point Melrose Park, an industrial property currently under development in the Chicago suburb of Melrose Park. Bridge Industrial owns the property. CEVA, a supply chain management firm, signed a long-term lease agreement for a 707,953-square-foot warehouse. Expeditors, a logistics and freight forwarding firm, will occupy a 669,914-square-foot facility. The project team includes architecture firm Cornerstone, general contractor ARCO Murray and civil engineer SPACECO Inc. CIBC provided project financing last year. Bridge plans to construct one final building that will span 225,009 square feet. Dan McGillicuddy, Charlie Kenning and Brian Carroll of JLL represented Bridge in the lease transactions. Jason Lev and Jimmy Kowalczyk of CBRE, along with Jeffrey Kernochan and Andrew Mager of Fischer, represented the tenants.

May 5, 2022

Industrial Loans Midwest Ohio Self-Storage

Ready Capital Closes $22.8M Loan for Acquisition of Self-Storage Portfolio in Metro Columbus

by Kristin Harlow May 5, 2022

GRANDVIEW HEIGHTS AND UPPER ARLINGTON, OHIO — Ready Capital has closed a $22.8 million loan for the acquisition and stabilization of a 1,649-unit self-storage portfolio located in the metro Columbus cities of Grandview Heights and Upper Arlington. The nonrecourse loan features interest-only payments, a floating rate and a three-year term. The borrower was undisclosed.

May 5, 2022

Acquisitions Illinois Industrial Midwest

Inno-Tech Purchases 30,990 SF Industrial Building in Glendale Heights, Illinois

by Kristin Harlow May 5, 2022

GLENDALE HEIGHTS, ILL. — Inno-Tech has purchased a 30,990-square-foot industrial building in the Chicago suburb of Glendale Heights for its new corporate headquarters. The property is located at 1879 Internationale Blvd. Inno-Tech, a custom sheet metal and 3D printing group, purchased the asset for $3.5 million. David Conroy of Cawley Chicago represented the buyer. JLL represented the seller, Global Furniture, which relocated to a larger space in Warrenville.

May 5, 2022

Acquisitions Industrial Texas

NAI Partners Negotiates 295,134 SF Industrial Lease Near Port Houston

by Taylor Williams May 4, 2022

PASADENA, TEXAS — NAI Partners has negotiated a 295,134-square-foot industrial lease at Bayport South Business Park, which is located near Port Houston in Pasadena. According to propertyshark.com, the development was built on 41.5 acres in 2020 and totals 642,994 square feet. Chris Haro of NAI Partners represented the tenant, freight transit company Frederick Trucking, in the lease negotiations. Richard Quarles, March Nicholas and Jarret Venghaus of JLL represented the undisclosed landlord.

May 4, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties Sells 450,034 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow May 4, 2022

CHICAGO — Clear Height Properties has sold an industrial portfolio totaling 450,034 square feet throughout metro Chicago for an undisclosed price. The seven-property portfolio is 94 percent leased to 66 tenants. The assets are located in Bensenville, Carol Stream, Des Plaines, Northbrook, Wheeling and Chicago. Erik Foster, Mike Wilson and Adam Haefner of Avison Young represented Clear Height, which completed improvements to several of the properties, in the sale. J&L Real Properties was the buyer.

May 4, 2022

Acquisitions Industrial Midwest Multifamily Ohio

Green Harvest Capital Purchases Historic Warehouse in Akron, Plans Apartment Conversion

by Kristin Harlow May 4, 2022

AKRON, OHIO — Green Harvest Capital LLC has purchased a nearly 64,000-square-foot historic warehouse in Akron with plans to convert the property into roughly 50 apartment units. The historic Akron Soap Co. building was formerly occupied by WhiteSpace Creative. Completed in 1893, the factory was built to manufacture soap and was later utilized by Pioneer Cereal Co. and Pockrandt Paint Co. The facility sat vacant for several years until White Hot Properties LLC purchased it in 2013 and converted the building into office space. Nichole Booker of SVN Summit Commercial Real Estate Advisors brokered the sale. The sales price was undisclosed.

May 4, 2022

Acquisitions Florida Industrial Southeast

CBRE Brokers Sale of 692,000 SF Industrial Portfolio in South Florida

by John Nelson May 4, 2022

MIRAMAR, FLA. — CBRE has brokered the sale of a three-building, 692,000-square-foot industrial portfolio in the Broward County city of Miramar. Metro Chicago-based CenterPoint Properties purchased the properties for an undisclosed price. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Tom O’Loughlin of CBRE represented the undisclosed seller in the transaction. The portfolio includes a 500,000-square-foot facility at 3701 Flamingo Road, an 83,200-square-foot property at 2601 SW 145th Ave. and a 108,800-square-foot building at 2701 SW 145th Ave. The facilities feature dock doors, drive-in doors, ESFR sprinkler systems and clear heights ranging from 24 to 34 feet. The assets were fully leased at the time of sale to six tenants.

May 4, 2022

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