Industrial

1570-S.-Washington-Ave.-Piscataway-New-Jersey

Duke Realty Breaks Ground on 216,892 SF Spec Industrial Project in Piscataway, New Jersey

by Taylor Williams February 22, 2022

PISCATAWAY, N.J. — Indianapolis-based Duke Realty (NYSE: DRE) has broken ground on a 216,892-square-foot speculative industrial project that is located on a 21-acre site at 1570 S. Washington Ave. in the Northern New Jersey community of Piscataway. Building features include a clear height of 40 feet, 34 dock doors, 38 trailer parking spaces and 125 car parking spaces. Completion is slated for the fall. Colliers represented Duke Realty in its site selection and acquisition of the land and has also been retained to lease the property.

February 22, 2022

Acquisitions Industrial Texas

Dalfen Industrial Acquires 408,308 SF Business Park in Metro Dallas via Sale-Leaseback

by Taylor Williams February 21, 2022

FORNEY, TEXAS — Locally based investment and development firm Dalfen Industrial has acquired a two-building, 408,308-square-foot industrial park in the eastern Dallas suburb of Forney in a sale-leaseback transaction. The seller/tenant was not disclosed. The site also includes 4.8 acres of undeveloped land that could be used for an outdoor storage yard or a 200,000-square- foot expansion of the western building. Matt Dornak of Stream Realty Partners sourced the off-market deal for Dalfen Industrial.

February 21, 2022

Development Industrial Texas

Committed Industrial to Develop 181,250 SF Distribution Center in Bedford, Texas

by Taylor Williams February 21, 2022

BEDFORD, TEXAS — Locally based developer Committed Industrial has acquired land in Bedford, a northeastern suburb of Fort Worth, for the development of a 181,250-square-foot distribution center. Bill Bledsoe of Henry S. Miller Brokerage arranged the sale of the 15.4-acre site. Bledsoe represented the undisclosed sellers of the two separate parcels that comprise the assemblage. Construction is slated to begin in the second quarter.

February 21, 2022

Acquisitions California Industrial Western

Walton Street Capital Affiliate Buys 183,000 SF Manufacturing Facility in Woodland Hills, California

by Amy Works February 21, 2022

WOODLAND HILLS, CALIF. — An affiliate of Walton Street Capital has purchased the former Catalina Yachts headquarters, a manufacturing facility located at 21200 Victory Blvd. in Woodland Hills. Terms of the transaction were not released. Developed in the 1960s, the 183,000-square-foot asset consists of two structures with low coverage, ample vehicular access and flexibility, and 31.5-foot clear heights. The buyer plans to improve the main existing structure to a Class A industrial building with the intention of accommodating multiple users and uses. With access to CA-27 and US-101, the property services a population base of 5.4 million people within a 25-mile radius.

February 21, 2022

Connecticut Industrial Loans Northeast

New York Life Provides $55M Permanent Loan for Industrial Property in Stratford, Connecticut

by Taylor Williams February 21, 2022

STRATFORD, CONN. — New York Life Real Estate Investors has provided a $55 million permanent loan for an industrial property in Stratford, located in the southern coastal part of the state, that is leased to FedEx. The square footage of the property was not disclosed. Located within Stratford Executive Park near Interstates 95 and 91, the property features a clear height of 36 feet, 52 dock doors and 200 parking spaces, including 57 trailer spots. The borrower was Boston-based GFI Partners. Specific loan terms were not disclosed.

February 21, 2022

Industrial Loans Northeast Pennsylvania

Ready Capital Closes $1.8M Acquisition Loan for Philadelphia Industrial Property

by Taylor Williams February 21, 2022

PHILADELPHIA — New York City-based Ready Capital has closed a $1.8 million loan for the acquisition, renovation and stabilization of a 34,000-square-foot industrial property in northeast Philadelphia. The nonrecourse, interest-only loan features a 48-month term, floating interest rate, one extension option and a facility to fund future capital improvements. The sponsor was not disclosed.

February 21, 2022

Illinois Industrial Loans Midwest Northmarq

Northmarq Arranges Loans Totaling $15.7M for Refinancing of Two Industrial Properties Near Chicago

by Kristin Harlow February 21, 2022

DOWNERS GROVE AND MOKENA, ILL. — Northmarq has arranged two loans totaling $15.7 million for the refinancing of two industrial properties in suburban Chicago. The buildings total 275,254 square feet and are located in Downers Grove and Mokena. Jeff Frankel of Northmarq arranged the loans through a life insurance company. Both loans feature five-year terms, 30-year amortization schedules and fixed interest rates.

February 21, 2022

Acquisitions Illinois Industrial Midwest

Barber Murphy Brokers Sale of 16,800 SF Warehouse in Mount Vernon, Illinois

by Kristin Harlow February 21, 2022

MOUNT VERNON, ILL. — Barber Murphy has brokered the sale of a 16,800-square-foot warehouse with office space in Mount Vernon, a city in southern Illinois, for an undisclosed price. The property is located at 5111 Lake Terrace. Clear Sky Commercial purchased the building from Nealy Glenn Revocable Trust. Barber Murphy represented both parties in the transaction.

February 21, 2022

Industrial Market Reports North Carolina Southeast Southeast Market Reports

Raleigh-Durham’s I-40/I-85 Corridor Emerges as Industrial Tour de Force

by John Nelson February 21, 2022

The I-40/I-85 Corridor is an emerging distribution area with a remarkably strong tenant mix between national manufacturers and distribution users, making it one of the most fundamentally sound corridors in the Sun Belt. The I-40/I-85 Corridor, squarely centered between the Triad (Greensboro, Winston-Salem and High Point) and the Triangle (Raleigh, Durham, Chapel Hill), is home to companies such as Walmart, Lidl, Ford, Kidde, Amazon, Chick-Fil-A, UPS, Lenovo, FedEx, Coca-Cola, among others. This corridor is seeing rapid expansion and is poised to be an epicenter of industrial activity in the region as the logistical significance of the area is attracting larger users and a growing amount of institutional capital. Recently, this submarket has seen significant demand from larger users leading speculative developers to plan large, Class A industrial parks. Historically, the market has been dominated by older manufacturing buildings. The newer development in the area is making these properties more obsolete due to their lower efficiencies, a phenomenon marking a larger shift in the composition of the emerging submarket. The industrial inventory’s makeup is continuing to evolve over time, marking the transition from smaller manufacturing properties to distribution and significantly larger manufacturing operations. Buildings currently under construction are average a footprint …

February 21, 2022

Development Industrial South Carolina Southeast

Hunt Midwest Breaks Ground on 476,280 SF Logistics Facility Near Spartanburg

by John Nelson February 18, 2022

LYMAN, S.C. — Hunt Midwest has broken ground on Fort Prince Logistics Center, a 476,280-square-foot distribution building in Lyman, about 11.3 miles west of Spartanburg. The project, which will be situated within the master planned Fort Prince Industrial Park, is slated for completion in the fourth quarter. Fort Prince Logistics Center will include 189 surface parking stalls expandable to 385, up to 125 tractor trailer parking stalls, a 135-foot-deep truck court, 48 dock positions, 36-foot clear heights, mechanical dock equipment, 7-inch concrete slab flooring, an ESFR sprinkler system and motion-sensor LED lighting. The project team includes civil engineer Seamon Whiteside, architect LS3P and general contractor Evans General Contractors. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers are leading leasing on the project. Located on 47 acres at 1090 Fort Prince Blvd., Fort Prince Logistics Center has close access to Interstate 85, Inland Port Greer, GSP International Airport and BMW’s mega plant. Adjacent to the development is Walmart’s $450 million distribution facility that is anticipated to complete in 2024.

February 18, 2022

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