Industrial

A&G, Murray Wise Secure Stalking Horse Bidder for 1.9 MSF Greenhouse Property in Paris, Kentucky

by Julia Sanders January 14, 2022

PARIS, KY. — A&G Real Estate Partners and Murray Wise Associates LLC have secured a stalking horse bidder for the sale of AgTech Scientific Greenhouse, a 1.9 million-square-foot greenhouse and agricultural warehouse complex in Paris. Aurora Management Partners is the receiver seller for original owners AgTech Scientific Group LLC, Color Point LLC and undisclosed affiliates. The stalking horse bidder, an undisclosed agricultural company, has entered into an asset purchase agreement for $22.5 million. Competing bids, which must meet or exceed $22.9 million, are due by Monday, Jan. 31. Previously, the property was fully occupied by AgTech as the company’s hemp-growing and CBD-production operations facility. Located at 1077 Cane Ridge Road, the vacant complex is situated 26.1 miles from Lexington and 32.5 miles from Blue Grass Airport. The 151-acre property includes multiple greenhouse ranges, along with 155,000 square feet of warehouse and office space and 150,000 square feet of polytunnels. The irrigation system is sourced by a lake on the property. The complex includes a main office and production barn, a shipping building, two storage buildings and six greenhouse ranges, each of which totals approximately 270,000 to 280,000 square feet. The east side of the greenhouse range features two separate water …

January 14, 2022

Development Industrial South Carolina Southeast

Rockefeller Group to Develop 827,000 SF Industrial Park in Metro Greenville

by Julia Sanders January 14, 2022

DUNCAN, S.C. — Rockefeller Group has plans to develop Duncan Logistics Center, three industrial warehouses totaling 827,000 square feet in Duncan, about 19.4 miles north of Greenville. The firm purchased 98 acres for the industrial park, which is the company’s first project in the Greenville-Spartanburg metro area. The seller and sales price for the land were not disclosed. Duncan Logistics Center will feature Building One, a 431,000-square-foot cross-dock building, and Building Two, a 142,000-square-foot rear-load building. Construction on the first two buildings will be completed in the fourth quarter. Additionally, a build-to-suit pad will be available to accommodate a 254,000-square-foot rear-load building. Duncan Logistics Center is located off Highway 290 between Greenville and Spartanburg along Interstate 85. Building One will feature 36-foot clear heights, 54- by 50-foot column spacing and up to 233 parking spaces and 144 trailer spaces. Building Two will feature 32-foot clear heights, 52- by 50-foot column spacing and up to 140 parking spaces and 44 trailer spaces. Campbell Lewis and Nick Hollstegge of CBRE are the exclusive leasing agents for Duncan Logistics Center. Harper General Contractors, in conjunction with MCA Architects, is providing design-build services. SeamonWhiteside is the project’s civil engineer.

January 14, 2022

Illinois Industrial Leasing Activity Midwest

Meade, Central States Trucking Sign Leases at Industrial Park in Chicago

by Kristin Harlow January 14, 2022

CHICAGO — Meade Inc. and Central States Trucking have signed leases to occupy space at a three-building industrial park located at 2217 S. Loomis St. in Chicago. Dayton Street Partners owns the property, which is now fully leased. Meade will occupy 25,326 square feet while Central States Trucking will lease 4,000 square feet. Kevin Segerson and Philip DeBoer of CBRE and Peter Poulos of Peter J. Real Estate represented the tenants.

January 14, 2022

Acquisitions Industrial Office Texas

Cushman & Wakefield Brokers Sale of 2.3 MSF Office, Industrial Portfolio in Dallas-Fort Worth

by Taylor Williams January 14, 2022

DALLAS — Cushman & Wakefield has brokered the sale of a portfolio of 80 office and light industrial buildings totaling approximately 2.3 million square feet that are located across the Dallas-Fort Worth metroplex. About 75 percent, or 61 of the buildings totaling 1.7 million square feet, are light industrial facilities, and the remainder are office assets. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield represented the seller, locally based investment firm Momentum Commercial Realty, in the transaction. California-based CIP Real Estate purchased the portfolio for an undisclosed price.

January 14, 2022

Acquisitions Colorado Data Centers Industrial Western

IPI Partners Acquires 138,000 SF Data Center in Downtown Denver

by Amy Works January 14, 2022

DENVER — IPI Partners has purchased a three-story primary data center located at 1500 Champa St. in downtown Denver. Morgan Reed Group sold the asset for an undisclosed price. IPI Partners plans to further develop the 138,000-square-foot center’s connectivity ecosystems and colocation capacity. Currently, the property can support approximately 10 megawatts of power and offer a robust “Meet-Me-Room,” a space telecommunications companies can physically connect to one another and exchange data. Fred Mobley, Charles Borges and Andrew Gross of Matthews Real Estate Investment Services represented the buyer in the transaction.

January 14, 2022

Acquisitions Industrial Massachusetts Northeast

Brookwood Financial Partners Sells Industrial Building in Peabody, Massachusetts for $43.1M

by Taylor Williams January 14, 2022

PEABODY, MASS. — Locally based private equity firm Brookwood Financial Partners has sold 300 Jubilee, a 167,063-square-foot industrial building in Peabody, a northeastern suburb of Boston, for $43.1 million. Brookwood, which originally acquired the asset in 2009 for $8 million, sold the facility to an affiliate of Dallas-based Lincoln Property Co. At the time of sale, the property was 97 percent leased to a tenant roster that includes Thermo Fisher Scientific, International Transportation Group and Barton Associates. Colliers represented Brookwood in the transaction.

January 14, 2022

Acquisitions Industrial Massachusetts Northeast

ABG Commercial Negotiates $15.7M Sale of Metro Boston Industrial Property

by Taylor Williams January 14, 2022

LAWRENCE, MASS. — Locally based brokerage firm ABG Commercial Realty has negotiated the $15.7 million sale of a 90,692-square-foot industrial property in Lawrence, located north of Boston near the Massachusetts-New Hampshire border. The property was built on 6.2 acres in 1968 and renovated in 2014. At the time of sale, the facility was fully leased to logistics firm Mainstream Global. The buyer was a joint venture between Boston-based Oliver Street Capital and an undisclosed institutional investor. The seller was also not disclosed.

January 14, 2022

Acquisitions Industrial New York Northeast

Realterm Acquires 130,000 SF Warehouse in Queens

by Taylor Williams January 14, 2022

NEW YORK CITY — Global logistics operator Realterm has acquired a 130,000-square-foot warehouse located in the Maspeth neighborhood of Queens. The building, which has 15 loading positions, sits on 5.2 acres at 50-35 56th Road, roughly five miles from LaGuardia Airport. The property was fully leased at the time of sale. Eastdil Secured represented the undisclosed seller in the transaction. Isaac Ilkhanov of Stelth Group represented Realterm.

January 14, 2022

California Industrial Market Reports Western Western Market Reports

Mixed-Use Industrial Sector Soars in the Inland Empire

by Jeff Shaw January 14, 2022

By Dan MacDavid, Principal, AO Mixed-use industrial has become a significant economic driver in the Inland Empire. Cities are benefiting from business synergies, additional tax revenue, high-quality design and civic engagement that builds community. The recent mixed-use trend can be attributed to one key change: the significant growth in size and scale of industrial master plans over the past few decades, combined with a new approach to industrial as a partial result of the pandemic. After the 2008 financial crisis, the U.S. economy has managed to make a comeback in ways that are unique and new to the commercial real estate industry, specifically in the mixed-use industrial sector. The Inland Empire — historically regarded as a key industrial market — saw record-level demand for industrial space as online sales surged during the pandemic. Some 19.1 million square feet of industrial space was leased in the fourth quarter of 2020. This was down slightly from 19.8 million square feet in the third quarter, according to JLL’s fourth-quarter market report. Despite 19.7 million square feet of new product being delivered in 2020, supply still lags demand. Data from the second quarter of 2020 shows there are no signs of slowing in this sector, particularly in …

January 14, 2022

Florida Industrial Loans Southeast

JLL Secures $73.4M Loan for Five-Property Portfolio in South Florida

by Julia Sanders January 13, 2022

MIAMI — JLL Capital Markets has secured a $73.4 million refinancing loan for a five-property industrial portfolio totaling 713,481 square feet in Doral, Medley, Miami and Cooper City. Greg Nalbandian, Jim Cadranell, Maxx Carney and Michael Lachs of JLL arranged the loan on behalf of the borrower, metro Philadelphia-based Seagis Property Group LP. An undisclosed correspondent life insurance company provided the 10-year, fixed-rate, interest-only loan. The 12-building portfolio includes Class A and B properties located at 8305 NW 27th St. in Doral; 8150 NW 76th St. and 2101 NW 82nd St. in Medley; 3000 NW 125th St. in Miami; and the nine-building Cooper Commerce Center located at 2229-12260 SW 53rd St. and 12323 SW 55th St. in Cooper City. The portfolio was 99 percent leased at the time of the financing to 67 tenants. All the buildings feature efficient loading and clear heights ranging from 21 to 24 feet.

January 13, 2022

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