ATLANTA — MDH Partners has acquired 1500 Marietta Blvd., a 48,975-square-foot industrial building located in Atlanta’s Upper Westside. The transaction is a sale-leaseback deal with the tenant, Ideation. The sales price was $6.2 million. Ideation, a wholesale bakery based in Atlanta that was previously known as H&F Bread Co. signed a three-year lease with MDH at the Class B, infill industrial facility. The property is located close to Interstate 75 and the Interstate 285 loop. The facility also sits adjacent to Tilford Yard, where TPA Group is set to develop 77 acres on behalf of Amazon, including a 220,000-square-foot delivery station. Ideation provides research, development, manufacturing and packaging solutions for restaurants, hotels, grocers and caterers. MDH Partners is an Atlanta-based real estate investment company.
SURPRISE, ARIZ. — South Dakota-based SWC Development Partners has purchased a 27.9-acre land site in Surprise for $7.1 million. The buyer plans to develop a multi-phased industrial project with warehouse/distribution, manufacturing and flex facilities on the site. Kevin Helland of Avison Young represented the buyer in the acquisition. Helland and Mark Seale, also of Avison Young, will represent the ownership on the leasing and sale of the project. SWC Development Partners plans to build eight buildings, ranging from 25,000 square feet to 139,278 square feet. Located at 11860 N. Dysart Road, the first building is already fully permitted and will be a 59,352-square-foot warehouse/distribution facility. Construction is slated to begin in October with completion scheduled for fourth-quarter 2022. The second building will total 139,278 square feet and construction is scheduled to begin in second-quarter 2022 with completion estimated for first-quarter 2023. The construction schedule for the remaining six buildings is to be determined based on market demand. The sold parcel marks the final phase of Skyway Commons, an industrial park that currently has four completed industrial buildings totaling 173,878 square feet that another developer built.
SACRAMENTO, CALIF. — A joint venture between PCCP and Panattoni Development Co. has unveiled plans to develop Natomas Advanced Logistics Center, a two-building, 185,973-square-foot industrial property located at Duckhorn Drive and Arena Boulevard in Sacramento. The 122,401-square-foot Building A will feature 32-foot clear heights and the 63,572-square-foot Building B will feature 28-foot clear heights. The property is designed for flexibility and is available to accommodate distribution, logistics, light industrial and manufacturing uses for two to seven tenants. The center will include three separate points of access along Duckhorn Road, a semi-truck access aisle that will be gated and separate from employee vehicle parking, ample vehicle parking and a shared truck court totaling 300 feet.
DESOTO, TEXAS — Newmark has secured an 89,060-square-foot industrial lease extension at 10634 Tanner Road in Houston. According to LoopNet Inc., the property was built in 2015 and spans 214,811 square feet. Rob Stillwell, Si Pitstick and Josh Young of Newmark represented the tenant, Ohio-based wholesaler TSC Apparel LLC, in the lease negotiations. JLL represented the landlord, an entity doing business as WPT Apex DCLP.
MOORESTOWN, N.J. — Colliers International has brokered the sale of a 22,500-square-foot warehouse located at 353 Crider Ave. in the Southern New Jersey city of Moorestown. A partnership between Quinlan Development Group and Atrium Real Estate Group purchased the building for an undisclosed price. The seller, Court Street Ventures, acquired the asset a year ago and implemented capital upgrades. Ian Richman of Colliers brokered the deal.
Orlando’s industrial market emerged from the early panic of 2020 in solid shape, and both occupier and investment activity have continued in earnest ever since. While the preceding year has brought its share of pandemic-induced challenges to the Orlando market, the industrial sector itself has not been adversely affected, other than by labor shortages and the escalating prices of construction materials for new development. Sector fundamentals remain strong, with healthy leasing and positive net absorption of space, robust tenant activity and continued speculative development that is focused primarily along the 429 Corridor and in the Orlando Central Park and Airport/Southeast submarkets. Economic fundamentals are also sound. The unemployment rate in Orlando as of June 2021 was 6 percent, down an impressive 1,300 basis points from the height of pandemic unemployment in May 2020. Oxford Economics projects that Orlando is expected to see job growth of 2.1 percent in 2021, 9.1 percent in 2022 and should recover all of its lost jobs by third-quarter 2022, a majority of which are in the leisure and hospitality sector. Central Florida is the state’s fastest-growing region, and the U.S. Census Bureau expects its growth to outpace South Florida by a factor of two to …
PACOIMA, CALIF. — Newmark has arranged the sale of a five-building industrial portfolio in Pacoima. Chase Partners acquired the portfolio from a private local family for more than $16 million. John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark represented the buyer and seller in the transaction. Situated within the San Fernando Valley’s infill areas, the properties offer a total of 80,000 square feet. At the time of sale, the single-story portfolio was 100 percent occupied.
COPPELL, TEXAS — Louis Vuitton North America Inc. has signed a 211,100-square-foot industrial lease at 220 Freeport in the Fort Worth suburb of Coppell. Blake Anderson, Tom Carragher, Adam Petrillo, Al Petrillo, Craig Engelhardt, Jeff Cannon, Chris Koeck and Steve Korfiatis of Newmark represented the tenant in the lease negotiations. Transwestern represented the landlord, Prologis.
WOOLWICH TOWNSHIP, N.J. — Nevada-based developer Dermody Properties has broken ground on a LogistiCenter at Woolwich, an approximately 1.1 million-square-foot industrial project in Southern New Jersey’s Gloucester County. The Class A development will consist of three buildings totaling 262,200, 552,585 and 336,700 square feet. Building features will include clear heights of 36 to 40 feet, 50 to 110 dock-high doors, ESFR sprinkler systems and build-to-suit office space. CBRE is the leasing agent for the project. Construction of the first building is slated for a fall 2022 completion.
ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property was fully leased to seven tenants at the time of sale.