Industrial

Low Vacancy, New Development, Rent Growth Reflect Industrial Demand in Orlando

by John Nelson September 13, 2022

Still going strong after two years since the onslaught of COVID-19, Orlando’s industrial market has seen a steady increase of robust leasing activity and development, with no signs of stopping. The growth is attributable to record-low vacancy, emerging construction and increasing demand from existing tenants expanding their businesses and new tenants in the market. Economic conditions affecting the market are similar to last year, as labor shortages and supply chain issues remain. However, the industrial sector overall has not been adversely affected. Orlando continues to be the place for existing business advancement and new business development. The city’s population growth outpaces that of any other city in Florida due to its central location, warm weather year-round, no state tax and relative affordability. As such, the market is seeing large enterprise retail and consumer goods companies claiming their stake in the Sunshine State. Robust leasing activity The total industrial leasing volume in the Orlando market for the second-quarter 2022 was 4.5 million square feet, 43 percent of the total leasing volume seen in 2021. Eight leases over 100,000 square feet were signed to date in 2022. The largest lease in the first half of 2022 was the new 294,787-square-foot Coca-Cola lease …

September 13, 2022

Development Industrial Texas

Alliance Industrial Breaks Ground on 157,450 SF Spec Project in Buda, Texas

by Taylor Williams September 12, 2022

BUDA, TEXAS — Alliance Industrial has broken ground on Corridor Commerce Center, a 157,450-square-foot speculative industrial project that will be located in Buda, a southern suburb of Austin. Designed by Seeberger Architecture, the building will be situated on a 12-acre site along I-35 and will feature 32-foot clear heights, two drive-in doors and a ESFR sprinkler system. Completion is slated for March 2023. Transwestern will lease the property.

September 12, 2022

Acquisitions Development Industrial Texas

Colliers Negotiates Sale of 36,119 SF Warehouse, Land in Palestine, Texas

by Taylor Williams September 12, 2022

PALESTINE, TEXAS — Colliers has negotiated the sale of a 36,119-square-foot warehouse in Palestine, about 110 miles southeast of Dallas. The property sits on a 77-acre site, the undeveloped acreage of which was included in the sale. Steve Demuth and Ray Ver Hey of Staples Commercial Group represented the sellers, private investor Tom Clamon and Baylor University, which respectively own the building and the land, in the transaction. Judy Beebe and Blake Gibson of Colliers represented the buyer, Perfect Life TX LLC, a provider of fragrances and flavors that plans to build a manufacturing plant at the site.

September 12, 2022

Industrial Loans New Jersey Northeast

JLL Arranges Loan for Refinancing of 84,000 SF Industrial Property in Central New Jersey

by Taylor Williams September 12, 2022

EAST BRUNSWICK, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of Edgeboro Corporate Center, an 84,000-square-foot industrial property located in the Central New Jersey community of East Brunswick. The two-building complex was constructed in 1977 and features clear heights of 19 feet and 20 dock-high doors. Michael Klein, Jon Mikula and Michael Lachs of JLL arranged the financing through an undisclosed life insurance company on behalf of the borrower, New Jersey-based Denholtz Properties. The loan carried a 10-year term and a fixed interest rate.

September 12, 2022

Acquisitions California Industrial Office Western

Majestic Asset Management Buys 248,961 SF Telstar Building in El Monte, California for $73M

by Amy Works September 12, 2022

EL MONTE, CALIF. — Rising Realty Partners and Brasa Capital Management have completed the disposition of Telstar Building, an industrial and office building at 9320 Telstar Ave. in El Monte. Majestic Asset Management acquired the property for $73 million. Michael Longo, Todd Tydlaska, Sean Sullivan, Darla Longo, Will Pike, Melissa Moock, Anthony DeLorenzo and Mark Shaffer of CBRE represented the seller in the transaction. The County of Los Angeles leases the entire 248,961-square-foot building and recently renewed its lease for the property. The renewal also included an 86,961-square-foot expansion of industrial space. The tenant houses its public health, public social services and children and family services departments at the facility. Situated on 7.9 acres, the building features 67 percent office space, 33 percent industrial space and 627 parking spaces.

September 12, 2022

Acquisitions Georgia Industrial Southeast

Denholtz Acquires Three-Property Industrial Portfolio in Savannah for $33M

by John Nelson September 12, 2022

SAVANNAH, GA. — Denholtz Properties has purchased a three-property, 358,884-square-foot industrial portfolio in Savannah. The undisclosed seller sold the properties for $33 million. Colliers brokered the transaction, and JLL arranged an undisclosed amount of acquisition financing on behalf of Denholtz. Located at 101 and 111 Coleman Blvd. and 10 Artley Road, the portfolio is situated near the Port of Savannah, Norfolk Southern and CSX’s robust regional rail networks, I-16 and I-95 and Savannah-Hilton Head International Airport. The portfolio is currently fully leased to a variety of tenants, including Collins Aerospace, Johnson Matthey and East Coast Logistics.

September 12, 2022

Acquisitions Illinois Industrial Midwest

Lightstone Purchases Two Chicago-Area Industrial Properties Totaling 558,000 SF

by Kristin Harlow September 9, 2022

BROADVIEW AND BUFFALO GROVE, ILL. — Lightstone has purchased two Chicago-area industrial properties totaling 558,000 square feet for an undisclosed price. The first property is a 332,000-square-foot warehouse and office building located at 2600 S. 25th Ave. in Broadview. The facility is 96 percent leased to 19 tenants. In Buffalo Grove, Lightstone purchased 990 and 1000 Deerfield Parkway, a 226,000-square-foot lab and warehouse property. The building is fully leased to Siemens. With these acquisitions, Lightstone’s industrial portfolio has grown to more than 6.5 million square feet across 15 markets. The seller was not provided.

September 9, 2022

Acquisitions Industrial Washington Western

Fortress Investment Buys Cutwater Boat Factory in Auburn, Washington for $9.5M

by Amy Works September 9, 2022

AUBURN, WASH. — Fortress Investment has acquired the former Cutwater Boat factory in Auburn from JJL LLC for $9.5 million. Situated on 4.5 acres at 47 37th St. NE, the property features 27,000 square feet. The buyer was able to separate the deal with a leaseback on half of the property, while it works toward developing the other half of the property for a future tenant. Matt Murray of Kidder Mathews represented the buyer and seller in the transaction.

September 9, 2022

Acquisitions Industrial Texas

CBRE Arranges Sale of 281,481 SF Industrial Portfolio in Metro Houston

by Taylor Williams September 9, 2022

SPRING, TEXAS — CBRE has arranged the sale of The Pines Business Park I and II, a portfolio of six industrial buildings totaling 281,481 square feet located in the northern Houston suburb of Spring. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented the seller, AEW Capital Management, in the transaction. Nuveen Real Estate, a division of The Teachers Insurance & Annuity Association of America (TIAA), purchased the portfolio for an undisclosed price. The buildings were fully leased at the time of sale.

September 9, 2022

Industrial Loans Northeast Pennsylvania

Invesco, Webster Bank Provide $76.8M for Refinancing of Philadelphia Industrial Property

by Taylor Williams September 9, 2022

PHILADELPHIA — Atlanta-based investment management firm Invesco Real Estate and Webster Bank have provided $76.8 million for the refinancing of a 282,737-square-foot industrial property in Philadelphia. DH Property Holdings recently completed the Class A facility, which is a build-to-suit for TJX Cos., the parent company of Marshalls and T.J. Maxx. Building features include a clear height of 53 feet, proximity to Interstates 95 and 76 and ample car and trailer parking. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Ianno of Walker & Dunlop arranged the financing.

September 9, 2022

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