Industrial

Tac-Pal-Logistics-Center-Palmyra-New-Jersey

Sansone Group, Crow Holdings Near Completion of 702,450 SF Industrial Project in Palmyra, New Jersey

by Taylor Williams May 26, 2022

PALMYRA, N.J. — A partnership between St. Louis-based Sansone Group and a fund advised by Crow Holdings Capital is nearing completion of Tac Pal Logistics Center, a 702,450-square-foot industrial project located in the Southern New Jersey community of Palmyra. The facility will feature a clear height of 40 feet, 107 loading docks, 240 trailer stalls and 499 car parking spaces. Tac Pal Logistics Center also offers proximity to Route 130, Interstate 95 and the New Jersey Turnpike. Cushman & Wakefield and Avison Young have been tapped as co-leasing agents for the development, which is slated for a September 2022 delivery.

May 26, 2022

Development Industrial New Jersey Northeast

Costco Opens 183,000 SF Warehouse, Distribution Center Near Port of Newark

by Taylor Williams May 26, 2022

NEWARK, N.J. — Wholesale discount merchandiser Costco has opened a 183,000-square-foot warehouse and distribution center roughly two miles from the Port of Newark. The facility sits on 12.6 acres and features a clear height of 40 feet, 36 exterior docks, 83 trailer parking spaces and 168 car parking spaces. RC Anderson served as the general contractor for the project, which was developed on a speculative basis by Illinois-based CenterPoint Properties.

May 26, 2022

Development Industrial Midwest Ohio

AmplifyBio to Invest $150M for New Biotechnology Facility in Metro Columbus

by Kristin Harlow May 26, 2022

NEW ALBANY, OHIO — AmplifyBio, a biotechnology contract research organization, will invest approximately $150 million for a new 350,000-square-foot facility in New Albany, about 15 miles northeast of Columbus. The company plans to generate 263 new jobs between the new facility and its existing property in West Jefferson. AmplifyBio says it is expanding to meet surging market demand for advanced therapies, including cell and gene therapy products. The new property at 9885 Innovation Campus Way in New Albany will create 132 jobs. A timeline for construction was not provided.

May 26, 2022

Acquisitions Industrial New York Northeast

Cohen Asset Management Buys 84,140 SF Logistics Facility in Melville, New York

by Taylor Williams May 26, 2022

MELVILLE, N.Y. — Southern California-based investment firm Cohen Asset Management has purchased an 84,140-square-foot logistics facility located in the Long Island community of Melville. The property, which sits on 6.9 acres, was fully leased to Estee Lauder and two other tenants at the time of sale. Building features include a clear height of 22 feet and parking for 250 vehicles. The seller and sales price were not disclosed.

May 26, 2022

Acquisitions Illinois Industrial Midwest

Cresa Arranges Sale-Leaseback of 48,340 SF Warehouse in Northlake, Illinois

by Kristin Harlow May 26, 2022

NORTHLAKE, ILL. — Cresa Chicago has arranged the sale-leaseback of a 48,340-square-foot warehouse located at 11697 W. Grand Ave. in Northlake, a western suburb of Chicago. The building features a clear height of 24 feet, six docks and two drive-in doors. Ed Lowenbaum, George Mack and Mike Duncan of Cresa represented the seller, CTL Global Inc., which provides fulfillment and logistics solutions. Faropoint Ventures LLC purchased the asset for an undisclosed price. Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team. CTL constructed the facility in 2003.

May 26, 2022

Industrial Kansas Market Reports Midwest Midwest Market Reports Retail

Retail, Industrial Brokers in Wichita Market Remain Busy

by Kristin Harlow May 26, 2022

Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich. Furniture stores have been actively backfilling big boxes, including Bob Mills who took the former Michael’s, and Wichita Furniture, a strong regional player, taking the former 100,000-square-foot Kmart building on West Kellogg/US-54. Discount stores have continued to find a way to open more locations to increase their footprints in the market, both new construction and conversion of former retail spaces. Ollie’s Bargain Outlet opened its west store at Central and Ridge roads, and is also opening a store at Brittany Center. Quick-service restaurants (QSRs) have been active, including two new locations opening in 2022 for Dunkin’ and several new Dutch Bros Coffee locations as they enter the market as well in late 2022 and 2023. Tropical Smoothie Café opened a location last year and Smoothie King …

May 26, 2022

Acquisitions Industrial Oregon Western

Norris & Stevens Brokers $4.5M Sale of Industrial Warehouse in Troutman, Oregon

by Amy Works May 25, 2022

TROUTMAN, ORE. — Portland-based Norris & Stevens has brokered the sale of an industrial warehouse facility located at 1871-1891 NW Commerce Court in Troutman. An entity doing business as PDX Trans LLC acquired the property from an undisclosed seller for $4.5 million. Situated on 1.6 acres, the 23,896-square-foot warehouse features 4,168 square feet of office space and 5,000 square feet of fenced yard space. The single-story warehouse has 20-foot clear heights, two dock-high loading doors and three grade-level doors. Additionally, the site offers abundant parking and easy access to Marine Drive and Interstate 84. Tim Budelman of Norris & Stevens represented the buyer in the transaction, while Mike Hale and Brody Cohen of Capacity Commercial represented the seller.

May 25, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 327-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams May 25, 2022

MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of Starpoint Self Storage & Business Park, a 327-unit facility located in the eastern Dallas suburb of Mesquite. The property spans 70,590 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a privately held investment partnership, in the transaction. Karr also procured the buyer, a publicly traded REIT. Both parties involved in the deal requested anonymity.

May 25, 2022

Development Indiana Industrial Midwest

Stellantis, Samsung SDI to Invest $2.5B for Electric Vehicle Battery Manufacturing Plant in Kokomo, Indiana

by Kristin Harlow May 25, 2022

KOKOMO, IND. — Stellantis N.V. and Samsung SDI have formed a joint venture with plans to invest more than $2.5 billion to build an electric vehicle battery manufacturing plant in Kokomo, about 50 miles north of Indianapolis. The facility is expected to become operational in 2025 with an initial annual production capacity of 23 gigawatt hours. The total capacity is expected to increase further as demand for Stellantis electric vehicles is expected to rise, according to a news release. The joint venture says the project will create 1,400 new jobs in Kokomo and surrounding areas. Construction is expected to begin later this year.

May 25, 2022

Industrial Leasing Activity Texas

JD Fields & Co. Signs 133,125 SF Lease at Greens Port Industrial Park in Houston

by Taylor Williams May 25, 2022

HOUSTON — JD Fields & Co., a locally based supplier of steel products, has signed a 133,25-square-foot lease at Greens Port Industrial Park, a 735-acre development located near Port Houston. The multimodal park encompasses more than 3 million square feet of warehouse space and four railyards. Steve Pastor of NAI James E. Hanson and Gray Gilbert, Chris Haro and Jack Gilbert of NAI Partners represented the landlord, Kansas-based Watco, in the lease negotiations. The representative of the tenant was not disclosed.

May 25, 2022

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