Industrial

Opus Group Breaks Ground on 302,300 SF Spec Industrial Building in Council Bluffs, Iowa

by Kristin Harlow May 20, 2022

COUNCIL BLUFFS, IOWA — The Opus Group has broken ground on River Road Logistics, a 302,300-square-foot speculative industrial building in Council Bluffs. Located at the intersection of Nebraska Avenue and River Road, the development will feature 34 dock doors, two drive-in doors, 50 dedicated trailer parking stalls, 225 car parking stalls and a clear height of 32 feet. More than half of the building has been preleased. The facility is slated for completion in the first quarter of 2023, and Opus plans to build a second building at the site. Opus is the developer, design-builder, architect and structural engineer. Matt Hasenjager and Denny Sciscoe of Cushman & Wakefield/The Lund Co. are marketing the space for lease.

May 20, 2022

Acquisitions Indiana Industrial Midwest

Greenstone Partners Negotiates $8.2M Sale of Industrial Building in Portage, Indiana

by Kristin Harlow May 20, 2022

PORTAGE, IND. — Greenstone Partners has negotiated the $8.2 million sale of a 52,798-square-foot industrial building in Portage, a city in northwest Indiana. Completed in June 2021, the building is named The Diversey at AmeriPlex and is situated within AmeriPlex at the Port, a 385-acre industrial park. Tenants at the property include Fagor Arrasate, Johnson Brothers, Shorebags and Dream Big Gymnastics. Jason St. John of Greenstone represented the seller, Indiana-based developer Holladay Properties, and procured the West Coast-based buyer.

May 20, 2022

Development Industrial Self-Storage Texas

Bakke, Batson-Cook Underway on Two South Texas Self-Storage Facilities Totaling 1,562 Units

by Taylor Williams May 19, 2022

BROWNSVILLE AND MCALLEN, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. is underway on construction of two self-storage facilities totaling 1,562 units in South Texas. Both the Brownsville and McAllen facilities will comprise 781 units across approximately 87,000 net rentable square feet of climate-controlled space. Alamo Architects Inc. is the architect for both facilities, and Independent Contractors Inc. is the general contractor. Both facilities are expected to be complete by the middle of next year.

May 19, 2022

Development Industrial Leasing Activity New York Northeast

E-Commerce Firm Signs 216,892 SF Industrial Lease in Piscataway, New Jersey

by Taylor Williams May 19, 2022

PISCATAWAY, N.J. — JD.com, a global e-commerce firm based in Beijing, has signed a 216,892-square-foot industrial lease in the Northern New Jersey community of Piscataway. Indianapolis-based REIT Duke Realty (NYSE: DRE) is developing the facility, which will feature a clear height of 40 feet and 38 trailer parking spaces, with a target completion date of this fall. Noah Balanoff and Jacquelyn Severino of Colliers, along with internal agents Ben Rosen and Gregg Bazzani, represented Duke Realty in the lease negotiations. Chuck Fern, Jason Barton and Thomas Tucci of Cushman & Wakefield, along with Andy Ho of Kander Pacific Inc., represented the tenant.

May 19, 2022

Industrial Loans New York Northeast

Columbia Pacific Provides $36M Loan for Refinancing of Bronx Industrial Property

by Taylor Williams May 19, 2022

NEW YORK CITY — Seattle-based lender Columbia Pacific Advisors has provided a $36 million loan for the refinancing of an industrial property located along the Hudson River in The Bronx. The property is a 480,000-square-foot outdoor storage yard that is situated on a 14-acre site. The borrower is locally based developer Dynamic Star. Will Nelson led the transaction for Columbia Pacific Advisors.

May 19, 2022

Acquisitions Industrial Northeast Pennsylvania

Marcus & Millichap Brokers $30M Sale-Leaseback of Industrial Facility in Bridgeville, Pennsylvania

by Taylor Williams May 19, 2022

BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $30 million sale-leaseback of a 346,009-square-foot industrial facility in Bridgeville, a southern suburb of Pittsburgh. Built on 31 acres in 1980, the four-building property features clear heights of 11 to 28.5 feet, 26 dock-high doors and five grade-level doors. Adam Abushagur of Marcus & Millichap represented the seller, a sister company of the tenant, IT firm Black Box Corp., in the transaction. Abushagur also procured the buyer, Spirit Realty Capital.

May 19, 2022

Development Illinois Industrial Midwest

Stonemont, Stotan Industrial to Build 258,720 SF Spec Project in West Chicago

by Kristin Harlow May 19, 2022

WEST CHICAGO, ILL. — Stonemont Financial Group and developer Stotan Industrial are building a 258,720-square-foot speculative industrial project in West Chicago. Completion of the Class A development is slated for February 2023. Named DuPage Crossings, the facility will feature a clear height of 36 feet, 32 exterior docks, 45 trailer stalls and 219 parking spaces. The 17-acre project will be situated within the Fox Valley submarket and offer immediate access to I-88.

May 19, 2022

Acquisitions Illinois Industrial Midwest

NAI Hiffman Negotiates Sale of 225,000 SF Refrigerated Warehouse in Chicago’s Back of the Yards

by Kristin Harlow May 19, 2022

CHICAGO — NAI Hiffman has negotiated the sale of a 225,000-square-foot refrigerated warehouse in Chicago’s Back of the Yards neighborhood as well as the business occupying the facility, Ashland Cold Storage. The sales price was undisclosed. The buyer, Karis Cold, has engaged Artico Cold Storage to assume the facility’s operations. The property is located at 1556 W. 43rd St. within Chicago Stockyards Industrial Park. John Basile of NAI Hiffman and Jay Maher of Nelson Hill represented Karis Cold, which focuses exclusively on the cold storage industry.

May 19, 2022

Acquisitions Industrial North Carolina Southeast

Avison Young Brokers $35M Sale of Industrial Facility in Southwest Charlotte

by John Nelson May 18, 2022

CHARLOTTE, N.C. — Avison Young has brokered the $35 million sale of a 300,000-square-foot industrial facility located at 10800 Withers Cove Park Drive in southwest Charlotte. Built in 2000, the property was fully leased at the time of sale to Essendant, a national wholesale distributor of office supplies. The facility features a concrete tilt-wall construction, cross-dock loading, an ESFR sprinkler system and available land for future expansion opportunities or excess trailer parking. Tom Tropeano, Chris Loyd and Chris Skibinski of Avison Young’s Charlotte industrial team represented the private seller in the transaction. The buyer and seller were not disclosed.

May 18, 2022

Industrial Leasing Activity Texas

Westin Automotive Signs 128,400 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams May 18, 2022

FORT WORTH, TEXAS — Car parts manufacturer Westin Automotive Products has signed 128,400-square-foot industrial lease renewal at Railhead Industrial Park, a 633-acre development in Fort Worth. The rail-served park is located on the city’s north side. Reid Bassinger of Lee & Associates represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, James Campbell Co.

May 18, 2022

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