Industrial

Samsung Signs 815,850 SF Industrial Lease Renewal in Coppell, Texas

by Taylor Williams April 13, 2022

COPPELL, TEXAS — South Korean multinational electronics corporation Samsung has signed an 815,850-square-foot industrial lease renewal at Point West Industrial Park, a 2.1 million-square-foot development in the central metroplex city of Coppell. According to LoopNet Inc., the property at 400 Dividend Drive totals just over 1 million square feet and was built on a 48.8-acre tract in 2007. Matt Hyman represented the landlord, Indianapolis-based REIT Duke Realty (NYSE: DRE), in the lease negotiations on an internal basis. Mark Becker and Jay Benner of Cushman & Wakefield represented Samsung.

April 13, 2022

Acquisitions Florida Industrial Southeast

Colliers Negotiates $21.8M Sale of Dairy Processing Facility in Miami

by Julia Sanders April 13, 2022

MIAMI — Colliers has negotiated the sale of the Borden Dairy Co./Velda Farms dairy processing facility in Miami for $21.8 million. Steven Wasserman and Erin Byers of Colliers represented the buyer, CP Logistics Miami 95 LLC, in the transaction. Harold Ginsberg from Southern Asset Service Corp. represented the seller, New Dairy Florida LLC, in the transaction. The buyer, which is an entity of Panattoni Development, has plans to redevelop the site into a 126,000-square-foot Class A warehouse. The current tenant for the past 50 years, Borden Dairy, will vacate the site for redevelopment. Construction is slated for completion by late 2023. Located at 501 NE 181st St., the property is situated 19.7 miles from the University of Miami and 15.7 miles from Miami International Airport.

April 13, 2022

Development Industrial Southeast Virginia

Clayco Breaks Ground on 330,000 SF Tyson Foods Facility in Southern Virginia

by Julia Sanders April 13, 2022

DANVILLE, VA. — Clayco has broken ground on Tyson Foods’ new poultry processing facility in Danville. Construction started last month and is slated for completion by the spring of 2023. Built on a 64-acre site, the project will be used primarily for the production of fully cooked, Tyson-branded chicken products. Tyson Foods has committed to purchasing 60 million pounds of Virginia-grown chicken over the next three years. The chicken processing plant’s features will include a mezzanine level, ASRS cold storage structure, raw materials storage, production and packaging space, a two-story space for offices, and cold storage spaces that will range in temperatures throughout the building. A wastewater treatment plant will also be included. Lamar Johnson Collaborative is the designer for the project, with Clayco in charge of designing and building. Other project partners include Concrete Strategies, Tucker Jones and Stock Engineering.

April 13, 2022

Arizona Development Industrial Western

VanTrust Real Estate Breaks Ground on 150-Acre Peoria Logistics Park in Arizona

by Amy Works April 13, 2022

PEORIA, ARIZ. — VanTrust Real Estate has broken ground on Phase I of Peoria Logistics Park, a 150-acre Class A industrial park in Peoria. Situated two miles east of Loop 101, Peoria Logistics Park will consist of up to eight buildings ranging from 100,000 square feet to 600,000 or more square feet. The first phase will feature a 157,000-square-foot distribution center, built for a Fortune 500 company, which is slated to open in early 2023. The 17.5-acre site will feature a modern industrial warehouse with the ability to accommodate future expansion. Willmeng Construction is serving as general contractor for Phase I. Cooper Fratt and John Werstler of CBRE represented VanTrust in the lease transaction and Ted Liles of Cresa represented the landlord. Butler Design Group is serving as architect for the project.

April 13, 2022

California Industrial Loans Western

PSRS Arranges $3.8M Refinancing for Industrial Property in San Diego

by Amy Works April 13, 2022

SAN DIEGO — PSRS has arranged the $3.8 million cash-out refinancing of a multi-tenant industrial property in San Diego’s Miramar neighborhood. Built in 1985, the 30,355-square-foot asset is 100 percent leased. Jennifer Mustard of PSRS secured the credit union execution, which provided the undisclosed borrower a 3.5 percent interest rate, 10-year term and $1 million cash out for other investments.

April 13, 2022

Acquisitions Arizona Industrial Western

ABI Multifamily Brokers $33.5M Sale of Park Central Luxury Townhomes in Phoenix

by Amy Works April 12, 2022

PHOENIX — ABI Multifamily has arranged the sale of Park Central Luxury Townhomes, a rental property located at 917 W. Glendale Ave. in Phoenix. Arizona-based FSO Capital Partners acquired the asset from California-based Next Wave Investors for $33.5 million, or $598,214 per unit. Completed in 2020, Park Central Townhomes features 56 townhomes residences spread across 28 two-story buildings on 3.3 acres. The property offers 54 three-bedroom/two-and-a-half bath and two four-bedroom/three-and-a-half bath units. Unit amenities include individual hot water heaters and HVAC units; quartz countertops; tile and hardwood flooring; walk-in closets; soft-close cabinets; backyards and walk-out balconies; washers/dryers; fully equipped kitchens; and attached direct-access two-car garages. Community amenities include gated access and a pool. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily Institutional Apartment Group represented the buyer and seller in the deal.

April 12, 2022

Arizona Development Industrial Western

ViaWest Group, Nicola Wealth Real Estate Plan Three Industrial Buildings in Mesa, Arizona

by Amy Works April 12, 2022

MESA, ARIZ. — ViaWest Group and Nicola Wealth Real Estate have acquired a 20.7-acre industrial development site in Mesa from an undisclosed seller for $9.7 million. The companies plan to develop Advanced Industrial Park, a three-building, Class A industrial complex, on the site. Totaling 335,066 square feet, the park will consist of a 122,690-square-foot Building A, a 131,737-square-foot Building B and an 80,639-square-foot Building C. Buildings are divisible down to approximately 20,000 square feet and will be available for multiple users. The project team includes Cawley Architects, JMC Engineering, GC and Clayco. Construction is scheduled to begin in May for delivery in first-quarter 2023. Jackie Orcutt of CBRE brokered the land sale and helped ViaWest and Nicola Wealth Real Estate define a business plan for the development.

April 12, 2022

Industrial Loans Self-Storage Utah Western

PSRS Arranges $5M Refinancing for Self-Storage Facility in Layton, Utah

by Amy Works April 12, 2022

LAYTON, UTAH — PSRS has secured $5 million in refinancing for a 655-unit self-storage facility in Layton. William DeFanti of PSRS arranged a nonrecourse loan with a seven-year term and 30-year amortization. The lender provided prepayment flexibility along with a 3.45 percent interest rate.

April 12, 2022

Development Industrial Texas

Equity Industrial, Raith Capital to Develop Three Spec Warehouses Totaling 304,303 SF in El Paso

by Taylor Williams April 12, 2022

EL PASO, TEXAS — A partnership between Boston-based Equity Industrial Partners and New York-based Raith Capital Partners will develop three speculative warehouses in the El Paso area that will total 304,303 square feet. The two buildings at 9577 Plaza Circle will total 215,444 square feet and are expected to be complete in the fourth quarter. The building at 455 Pan American Drive will span 88,859 square feet and is slated for a first-quarter 2023 delivery. All three buildings will feature 1,200-square-foot office suites, 28-foot clear heights and ESFR sprinkler systems. CBRE has been tapped to lease the buildings. The partnership has developed other spec industrial projects in El Paso that have since been sold.

April 12, 2022

Acquisitions Industrial Northeast Pennsylvania

1788 Holdings Sells 423,900 SF Lehigh Valley Industrial Facility

by Taylor Williams April 12, 2022

WHITEHALL, PA. — Maryland-based investment firm 1788 Holdings LLC has sold Riverside Business Center, a 423,900-square-foot industrial facility located in the Lehigh Valley city of Whitehall. The property was originally built on 34 acres in 1910 and has been renovated numerous times over the years. Those renovations most recently included a $9 million capital improvement program in 2006 that converted the property from a single-use manufacturing facility to a multi-tenant warehouse. Michael Hines of CBRE represented 1788 Holdings in the transaction. The buyer, Buligo Capital Partners, purchased the asset for $34.6 million.

April 12, 2022

Newer Posts

Older Posts