Industrial

Westcore Acquires 210,887 SF Industrial Property in Metro Houston

by Taylor Williams October 7, 2021

BAYTOWN, TEXAS — San Diego-based investment firm Westcore has acquired a 210,887-square-foot industrial property in the eastern Houston suburb of Baytown. The newly built property, which is located within the Cedar Port Industrial Park master-planned development near Port Houston, features 32-foot clear heights, 200-foot truck court depths and an ESFR sprinkler system. Jason Tangen and Barrett Gibson of Colliers International represented the seller, metro Houston-based NIT Industrial, in the transaction. Westcore was self-represented.

October 7, 2021

Acquisitions Industrial New York Northeast Office

Phoenix Investors Acquires 4 MSF Former IBM Campus in Endicott, New York

by Taylor Williams October 7, 2021

ENDICOTT, N.Y. — An affiliate of Wisconsin-based Phoenix Investors has acquired the 4 million-square-foot former IBM headquarters campus in Endicott, located near the New York-Pennsylvania border. The site, which consists of 29 buildings on 130 acres and is currently known as the Huron Campus, houses industrial, office and R&D users. The campus was first converted to a multi-tenant development in the early 2000s and today serves as the workplace of more than 2,800 people, though IBM still maintains a presence on the property. The seller was not disclosed.

October 7, 2021

Development Illinois Industrial Midwest

Opus Begins Construction on Two Spec Industrial Buildings in North Aurora, Illinois

by Kristin Harlow October 7, 2021

NORTH AURORA, ILL. — The Opus Group has begun construction of two speculative industrial buildings known as Tollway Corporate Center in North Aurora. The development is a joint venture with Principal Real Estate Advisors. The first building will total 104,978 square feet and will feature 10 dock positions, two drive-in doors, eight trailer stalls, 64 car parking stalls and a clear height of 32 feet. The second building will span 543,638 square feet and will offer 54 dock positions, four drive-in doors, 90 trailer stalls, 142 car parking stalls and a clear height of 36 feet. Completion of both buildings is slated for June 2022. Opus is serving as developer, design-builder, architect and engineer. Brian Kling of Colliers International and Dan Leahy of NAI Hiffman are marketing the project for lease.

October 7, 2021

Development Industrial Northeast Pennsylvania Self-Storage

EDC to Build 700-Unit Self-Storage Facility in Philadelphia’s East Falls Neighborhood

by Taylor Williams October 7, 2021

PHILADELPHIA — Richmond, Va.-based general contractor EDC will build a 700-unit self-storage facility in Philadelphia’s East Falls neighborhood. The developer is a local entity doing business as 4002-22 Ridge Ave. Acquisition LLC. The facility will rise five stories and span 103,000 square feet of net rentable space. A groundbreaking date has not yet been determined, but construction is expected to be complete in late 2022.

October 7, 2021

Development Industrial Midwest Ohio

Scannell Properties Breaks Ground on 354,000 SF Spec Warehouse Near Columbus

by Kristin Harlow October 7, 2021

NEW ALBANY, OHIO — Scannell Properties has broken ground on a 354,000-square-foot speculative warehouse in New Albany, about 15 miles northeast of Columbus. The developer purchased a 33-acre site on Innovation Campus Way. Completion of the project is slated for June 2022. Tom Miles and Scott Pickett of Avison Young represented Scannell in the land purchase. The duo will also handle leasing efforts for the property. MBJ Holdings was the seller.

October 7, 2021

Acquisitions Arizona Industrial Western

Hercules Industries Buys 140,777 SF Manufacturing Building in Phoenix for $18.2M

by Amy Works October 7, 2021

PHOENIX — Hercules Industries has acquired Santa Fe 44, an industrial building located at 4524 N. 44th Ave. in Phoenix. BC5 LLC sold the asset to the owner/user for $18.2 million. Built in 2006 on 6.9 acres, Santa Fe 44 features 140,777 square feet of industrial space, 32- to 36-foot clear heights, 9,000 square feet of office space, heavy power, ESFR sprinklers, ample dock- and grade-level loading, 108-foot concrete truck court and active BNSF rail service with 240-feet of rail dock and platform loading. Hercules Industries, the buyer, is a national manufacturer and wholesale distributor of HVAC sheet metal products and equipment. Phil Haenel, Will Strong, Andy Markham and Mike Haenel of Cushman & Wakefield’s Phoenix office represented the seller, while Bill Douglass of Upland Group Inc. represented the buyer in the deal.

October 7, 2021

Arizona California Features Industrial Nevada Western Western Feature Archive

CapRock Partners Seizes Industrial Opportunities in Western Region

by Kristin Harlow October 7, 2021

Newport Beach, Calif.-based CapRock Partners was busy before the pandemic, but shows no signs of slowing down even as brick-and-mortar retail reopens. The industrial investor, developer and asset manager’s newest venture is also its biggest: a 183-acre infill project in Phoenix where it plans to build an eight-building industrial complex that totals more than 3.4 million square feet. “Several years prior to the pandemic, we recognized the ecommerce trends along with the demand for larger logistics facilities and subsequently made investments in buildings and land positions in order to capture a segment of that demand,” says Bob O’Neill, CapRock’s senior vice president of acquisitions. “In the 16 months since the onset of the pandemic, our growth has accelerated.” Phoenix’s Industrial Market Rises CapRock has added about 4.8 million square feet of Phoenix-area industrial product to its portfolio since the pandemic’s onset. Its total pipeline in the Valley is now close to 6 million square feet, with its Phoenix-area acquisition closing in 2017. Aside from CapRock, Cushman & Wakefield also appears to be bullish on Phoenix’s industrial market. The firm projects Phoenix’s preliminary industrial absorption to be about 12 million square feet for the first half of 2021. This compares to …

October 7, 2021

Industrial Market Reports Midwest Midwest Market Reports Missouri

Spec Industrial Activity in St. Louis Region Rivals Pre-Pandemic Levels

by Kristin Harlow October 7, 2021

World and domestic markets are constantly recalibrating as the global supply chain continues to see a disruption from the COVID-19 pandemic. It has never been more clear though just how important freight logistics and a healthy supply chain are to keep the economy moving. Demand for distribution space continues to grow, and the latest data available reveals the bi-state St. Louis market is rebounding well from the uncertainty of 2020 and 2021, and is positioned to assist distributors and developers to meet the growing demand. The St. Louis region has more than 51 million square feet of modern bulk inventory supported by a strong labor force and an exceptional freight network that provides tremendous optionality to move goods into and out of the region via river, rail, truck and runway. Those advantages are contributing to historic lows in vacancy rates, with only 4.5 percent of modern bulk space (more than 250,000 square feet) available at this time. This follows on the heels of the overall vacancy rate for the entire St. Louis industrial market dropping below 6 percent in 2020, the first time it fell so low in more than 15 years. Fortunately, construction in the bi-state region has rebounded …

October 7, 2021

Acquisitions California Industrial Western

Alere Property Group Acquires 422,000 SF Saddle Ranch Business Park in Norco, California

by Amy Works October 6, 2021

NORCO, CALIF. — Alere Property Group has purchased Saddle Ranch Business Park, located at 3300-3390 Horseless Carriage Drive in Norco, from CapRock Partners for an undisclosed price. Saddle Ranch Business Park consists of four buildings ranging in size from 81,000 square feet to 158,000 square feet with clear heights from 30 feet to 32 feet. The concrete tilt-up structures feature dock-high and grade-level loading, ESFR sprinklers, ample power, large truck courts and 5.6 percent office space. Goli Nutrition, a vitamin and nutrition company, fully leases the 422,000-square-foot industrial warehouse complex. The company uses the facility for its corporate headquarters and manufacturing and distribution of its products. Darla Longo, Barbara Perrier, Rebecca Perlmutter, Joe Cesta and Eric Cox of CBRE represented the seller and buyer in the deal. Paul Earnhart, Jeff Ruscigno, Brian Pharris and Ryan Earnhart of Lee & Associates consulted on the transaction.

October 6, 2021

Industrial Leasing Activity Texas

Pollock Orora Signs 255,704 SF Industrial Lease in Houston

by Taylor Williams October 6, 2021

HOUSTON — Pollock Orora, a provider of commercial cleaning and packaging design services, has signed a 255,704-square-foot industrial lease at Seton Lake Logistics Center, located at 14611 Tomball Parkway in Houston. According to the property website, Trammell Crow owns the building, which is situated on 16.8 acres and features 32-foot clear heights. Joel Michael of NAI Partners represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord.

October 6, 2021

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