Industrial

Bridge Industrial Acquires Land Site for 2.5 MSF Bridge Point Tacoma Industrial Development

by Amy Works September 30, 2021

TACOMA, WASH. — Bridge Industrial has purchased a 160-acre land assemblage for the development of Bridge Point Tacoma 2MM, a 2.5 million-square-foot industrial project. Texas-based BNSF Railway Co. sold the 19 land parcels for $158 million. The site has been vacant and in disrepair for several years, and Bridge has committed to maintaining the remediations performed prior to its acquisition and any future required remediation for its proposed development. Located at 5802 S. Burlington Way, Bridge Point Tacoma 2MM will span four buildings and feature approximately 20 acres of trailer storage space. The buildings will offer 40-foot clear heights and expansive truck courts, with tenant spaces ranging from 100,000 square feet to 1.5 million square feet. Bridge plans to break ground on the campus in August 2022, with completion slated for summer 2023. Todd Clarke, Matt Murray, Matt McLennan and Ty Clarke of Kidder Mathews represented Bridge Industrial in the transaction.

September 30, 2021

Development Industrial Maryland Office Southeast

Trammell Crow Co., Capital Electric Break Ground on 362,880 SF Office/Industrial Facility in Upper Marlboro, Maryland

by Julia Sanders September 30, 2021

UPPER MARLBORO, MD. — Capital Lighting and Supply LLC and development partner Trammell Crow Co. have broken ground on a 362,880-square-foot, Class A office and warehouse build-to-suit facility in Upper Marlboro. Construction is slated for completion in the fourth quarter of 2022. Located at 8711 Westphalia Road, the new facility will feature over 40,000 square feet of office space with a training center, corporate offices and a will-call for local pickup. The warehouse component of the building includes 30-plus-foot bays for storage and features a distribution center automation technology. The facility will be located adjacent to the Capital Lighting and Supply’s current location and is meant to accommodate the firm’s 240 employees. Capital Lighting and Supply received conditional loans from both the Maryland Department of Commerce and Prince George’s County to support the project. MGMA Architects is serving as the architect, while Glen Arm Construction Co. is the general contractor.

September 30, 2021

Development Industrial Midwest Minnesota

Opus Breaks Ground on 130,440 SF Spec Industrial Building in Minneapolis

by Kristin Harlow September 30, 2021

MINNEAPOLIS — The Opus Group has broken ground on Nordeast Business Center, a 130,440-square-foot speculative industrial building in Minneapolis. Located at the corner of University Avenue and 37th Avenue Northeast, the project will feature 136 vehicle parking stalls, 22 dock doors, two drive-in doors, 19 trailer parking stalls and a clear height of 32 feet. Completion is slated for summer 2022. Opus is the developer, design-builder, architect and structural engineer. John Ryden, Matt Oelschlager and Mike Bowen of CBRE are marketing the property for lease.

September 30, 2021

Industrial Leasing Activity Texas

HGR Industrial Surplus Signs 184,723 SF Lease at Junction 20/35 in Fort Worth

by Taylor Williams September 30, 2021

FORT WORTH, TEXAS — HGR Industrial Surplus has signed a 184,723-square-foot lease at Junction 20/35, a 1.1 million-square-foot industrial development in Fort Worth. Built in 1989 and renovated in 2021, the property is located at the nexus of Interstates 20 and 35. The owner, Los Angeles-based CIM Group, purchased the asset in 2020. Following this deal, Junction 20/35 is now fully leased.

September 30, 2021

Development Industrial Office Texas

Proterra Properties to Develop 110,000 SF Office, Warehouse Building in Grand Prairie, Texas

by Taylor Williams September 30, 2021

GRAND PRAIRIE, TEXAS — Dallas-based Proterra Properties has purchased four acres in Grand Prairie, located roughly midway between Dallas and Fort Worth, for the development of a 110,000-square-foot office and warehouse building. The property will be able to accommodate one or two tenants and will feature 32-foot clear heights, 30 dock doors, 130-foot truck court depths and an ESFR sprinkler system. Completion is slated for 2022.

September 30, 2021

Development Industrial Northeast Pennsylvania

RIDC Partners with Pennsylvania’s Armstrong County to Develop Northpointe Industrial Park

by Taylor Williams September 30, 2021

WEST MAHONING TOWNSHIP, PA. — Regional Industrial Development Corp. of Southwestern Pennsylvania (RIDC) has partnered with the industrial development council of Armstrong County, located outside of Pittsburgh, to bring vertical development to Northpointe Industrial Park. The site spans more than 800 acres and is located adjacent to the Allegheny Expressway. Northpointe Industrial Park’s 115 shovel-ready acres can accommodate more than 500,000 square feet of new development. A construction timeline has not yet been established.

September 30, 2021

Acquisitions Georgia Industrial Southeast

Lee & Associates Brokers Sale of 30.2 Acres in Palmetto, Georgia

by Julia Sanders September 29, 2021

PALMETTO, GA. — Lee & Associates brokered the sale of 30.2 acres in Palmetto. Lee & Associates represented the buyer, a fund managed by a subsidiary of Ares Management Corp. The seller and price were not disclosed. On the purchased land, Ares Management Corp. plans to build Wilkerson Mill Logistics Center, a Class A industrial distribution facility totaling approximately 375,000 square feet. Wilkerson Mill Logistics Center will be a rear-loading facility with features including 36-foot minimum ceiling clear height, ample car and onsite trailer parking, ESFR sprinkler systems, LED lighting with motion sensors and dock packages. Located in Fulton County, the site is 3.5 miles from the CSX Fairburn Intermodal facility and 15.6 miles from Hartsfield-Jackson Atlanta International Airport. Construction for the project is slated for completion by the third quarter of 2022.

September 29, 2021

Acquisitions Illinois Industrial Midwest Ohio

Colliers Brokers Sale of 2.4 MSF Industrial Portfolio Across Three Markets

by Kristin Harlow September 29, 2021

CHICAGO, CINCINNATI AND MEMPHIS, TENN. — Colliers International has brokered the sale of a four-building industrial portfolio spanning 2.4 million square feet for approximately $200 million. The Class A assets are located in the Chicago, Cincinnati and Memphis markets. Jeff Devine, Steve Disse, Tyler Ziebel and Alex Cantu of Colliers represented the seller, IDI Logistics. Canadian-based Granite REIT was the buyer. The Chicago-area property is located in Antioch, Ill. Constructed in 2015, the building spans 454,276 square feet with a clear height of 36 feet, parking for 139 cars and 136 trailers. The property is fully leased to two tenants. The two Memphis-area assets are located just over the state border in Olive Branch, Miss. The first facility is located at 12577 Stateline Road and spans 408,197 square feet. Built in 2016, the property features a clear height of 32 feet and is fully leased. The second building is located at 8740 S. Crossroads Drive and spans 861,252 square feet. Built in 2014, the facility features a clear height of 32 feet and is fully leased to three tenants. The Cincinnati-area facility spans 678,363 square feet. The fully leased building was constructed in 2007 and offers a clear height of …

September 29, 2021

Acquisitions Indiana Industrial Midwest

JLL Negotiates $43M Sale of Distribution Center Near Indianapolis

by Kristin Harlow September 29, 2021

MOORESVILLE, IND. — JLL Capital Markets has negotiated the $43 million sale of Westpoint II, a 507,600-square-foot distribution center in the Indianapolis-area community of Mooresville. Deckers Outdoors Corp. (NYSE: DECK), a lifestyle and footwear retailer, fully occupies the facility. Completed this year, the building features a clear height of 36 feet and 50 dock-high doors. It is situated within Westpoint Business Park, a 550-acre development that will feature more than 9 million square feet of Class A industrial product upon full buildout. John Huguenard, Ed Halaburt and Brian Seitz of JLL represented the seller, Ambrose Property Group LLC. Cambridge Holdings was the buyer.

September 29, 2021

Development Industrial Texas

Dalfen Industrial Acquires 146 Acres in Northeast Austin for 1 MSF Project

by Taylor Williams September 29, 2021

AUSTIN, TEXAS — Dallas-based Dalfen Industrial has acquired 146 acres in northeast Austin for the development of an approximately 1 million-square-foot project. The development will be located at the site of the former Manor Downs horse racetrack, about eight miles from the downtown area and 10 miles from Austin-Bergstrom International Airport. The project will consist of six buildings that will range in size from 70,000 to 365,560 square feet and will feature 32- to 36-foot clear heights. Construction is scheduled to begin in the third quarter of next year.

September 29, 2021

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