Industrial

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

Georgia Industrial Leasing Activity Southeast

CJ Logistics America Signs 1 MSF Lease at Distribution Facility in Locust Grove, Georgia

by Julia Sanders October 6, 2021

LOCUST GROVE, GA. — CJ Logistics America, a Des Plaines, Ill.-based supply chain company, has signed a 1 million-square-foot lease at Locust Grove Distribution Center in Locust Grove, about 37 miles south of downtown Atlanta. CJ Logistics signed a full-building, 10-year lease at 700 Price Drive with the landlord, Manulife Investment Management. Part of a 311-acre business park, Locust Grove Distribution Center is a recently constructed, Class A industrial facility that features dedicated ingress and egress, 36-foot clear heights, trailer parking and 146 dock doors. Tyler Fann and Adam Richards of Reliant Real Estate Partners oversee industrial leasing at Locust Grove Distribution Center. Lynn Reich, Suzanne Serino, Sean Boswell and Scott Plomgren of Colliers International represented CJ Logistics in the lease transaction.

October 6, 2021

Acquisitions Industrial Michigan Midwest

Lee Contracting Acquires 235,963 SF Former Printing Facility in Walker, Michigan

by Kristin Harlow October 6, 2021

WALKER, MICH. — Lee Contracting has acquired the former Grand Rapids Press printing plant campus at 3100 Walker Ridge Drive in Walker, a suburb of Grand Rapids. The industrial contractor plans to open a new satellite office at the facility. This will be Lee’s first location outside of Pontiac, where the company is headquartered. The Grand Rapids office will start by offering electrical and mechanical services, with rigging and machinery moving and concrete machine foundations to follow. The 235,963-square-foot warehouse includes a 40,000-square-foot office space. The facility closed last year after MLive Media Group announced it would transfer production of eight of its newspapers to Cleveland. Bob Horn of JLL represented Lee in the purchase. MLive sold the facility for $9.7 million, according to local media reports.

October 6, 2021

California Industrial Market Reports Western Western Market Reports

Industrial is the Belle of the Ball in LA

by Jeff Shaw October 6, 2021

By Robert Flores, Senior Vice President, CBRE Not too long ago, industrial real estate was generally viewed as an obscure and often unpopular subset of commercial real estate. Instead of owning a concrete box, many investors and developers were drawn to the flashier structures in Central Business Districts and hip submarkets. Fast forward a few short years, and industrial has firmly taken center stage for many who might have previously shunned the sector. The Greater Los Angeles area is one of the beneficiaries. The Greater Los Angeles region is the second-largest metro in the U.S. and is home to some of the nation’s most critical infrastructure. With the ports of Los Angeles and Long Beach accounting for more than 40 percent of the country’s inbound container traffic and Los Angeles International Airport serving as a major gateway for passengers and air cargo, the local industrial market is ground zero for industrial users. At the close of the second quarter, the Greater Los Angeles industrial market totaled more than 1 billion square feet of rentable space with a vacancy rate of just above 1.5 percent, according to our CBRE research. Based on current activity levels and leasing velocity in the market, …

October 6, 2021

Arizona Development Industrial Western

CRG Acquires 268 Acres for 4 MSF Industrial Development in Suburban Phoenix

by Amy Works October 5, 2021

MESA, ARIZ. — CRG has purchased a 268-acre site between E. Pecos and E. Germann roads in Mesa for the development of The Cubes at Mesa Gateway, an up-to 4 million-square-foot speculative and build-to-suit industrial project. The project will offer multiple building and size configurations ranging from 250,000 square feet to 1.2 million square feet, with build-to-suit opportunities and options to buy improved lots. Steve Larsen, Pat Harlan and Jason Moore of JLL will handle leasing for the project.

October 5, 2021

Acquisitions Arizona Industrial Office Western

Cushman & Wakefield Arranges Sale of Vacant 61,316 SF Flex Property in Phoenix

by Amy Works October 5, 2021

PHOENIX — Cushman & Wakefield has brokered the sale Riverpoint Building 2, a flex office and industrial property in Phoenix. Michael Hsiung of Phoenix Rising Investments acquired the property from BH Properties for $9 million. Located at 3100 E. Broadway Road, the 61,316-square-foot property was vacant at the time of sale. Built in 2002 on 5.3 acres, the single-story building is currently divided into three shell-condition suites of varying sizes and served by a newly constructed lobby. Eric Wichterman, Mike Coover, Larry Downey and Brett Thompson of Cushman & Wakefield represented the seller in the transaction.

October 5, 2021

California Industrial Leasing Activity Office Western

Romeo Power Signs 215,000 SF Lease for Headquarters, Manufacturing Facility in Cypress, California

by Amy Works October 5, 2021

CYPRESS, CALIF. — Romeo Power, an energy technology company delivering electrification solutions for complex commercial vehicle applications, has leased a new headquarters and manufacturing facility in Cypress. The facility will support Romeo Power’s expansion of battery development and testing capabilities adjacent to its production line, allowing for faster innovation and time to market. The 215,000-square-foot facility includes 191,000 square feet of industrial space that will be designed to double critical laboratory and testing capacity. The expanded manufacturing capabilities will enhance throughput, quality and cost effectiveness, while the increased office space will also allow for continued organizational investment in scientific engineering and other support resources. Romeo Power will assume occupancy in the near future, with full occupancy expected to be completed over the next six to nine months.

October 5, 2021

Development Industrial Midwest Ohio

Gabe’s to Build $77.5M Distribution Center in Springfield, Ohio

by Kristin Harlow October 5, 2021

SPRINGFIELD, OHIO — Gabriel Brothers Inc. (Gabe’s) has unveiled plans to open an 850,000-square-foot distribution center in Springfield, about 45 miles west of Columbus. Located at 1801 Prime Parkway within the PrimeOhioII Industrial Park, the $77.5 million project will be the company’s largest distribution center. Construction at the 114-acre site is set to begin in mid-October. The facility is expected to open in February 2023. The project will create more than 800 full-time and part-time jobs over five years. Positions will include material handlers, packers, sorters, equipment operation, truck drivers, counters, maintenance, administration, supervisors and managers. JLL coordinated site selection, business consulting and project management services on behalf of Gabe’s, which is a discount retailer that offers apparel, footwear and home goods. NorthPoint Development will serve as developer.

October 5, 2021

Arizona Industrial Market Reports Western Western Market Reports

Phoenix’s Industrial Market is Firing on All Cylinders

by Jeff Shaw October 5, 2021

By Rob Martensen, Executive Vice President, Colliers As a racing driver, it is important that my vehicles fire on all cylinders to run their best. In the Phoenix metro area, the engine cylinders of the industrial market are the different industries, as well as the geographic locations around the Valley where these industries conduct business. First, let’s look at advanced manufacturing. Intel, which already has a large presence in the Southeast Valley, just announced a $20 billion expansion of its Price Road facility. This will create hundreds of construction jobs and demand for these contractors to find space, not to mention all the equipment suppliers, etc., that will require space for the long-term. With the huge demand for semiconductors and the supply of land and labor, Taiwan Semiconductor Manufacturing Company (TSMC) has chosen Phoenix to build its next fabrication plant. TSMC will spend $12 billion to build the new factory, which is already under construction in North Phoenix. This will create a huge demand for industrial space in the Deer Valley submarket to support TSMC. Other manufacturing companies like Apel Extrusions, MLILY and Ball Container have either recently completed projects or are under construction on new manufacturing facilities. Food and beverage …

October 5, 2021

Newer Posts

Older Posts