Industrial

Switch Inc. Buys Land in Metro Austin from Dell for Development of 1.5 MSF Data Center Campus

by Taylor Williams June 4, 2021

ROUND ROCK, TEXAS — Switch Inc. (NYSE: SWCH), a Las Vegas-based data center developer and operator, has purchased land in the northern Austin suburb of Round Rock from Dell Technologies for the development of a 1.5 million-square-foot campus. The site is adjacent to Dell’s global headquarters campus. The property will be Switch Inc.’s fifth data center campus in Texas and will be known as The Rock. Switch Inc., which recently acquired Data Foundry, a provider of colocation services in Texas, expects to begin site preparation and permitting for the project this summer. The company also intends to power its new facility with 100 percent renewable energy.

June 4, 2021

Development Industrial Northeast Pennsylvania

Court Street, Walton Capital to Develop 381,200 SF Distribution Center in Philadelphia

by Taylor Williams June 4, 2021

PHILADELPHIA — A partnership between developer Court Street Ventures and Chicago-based private equity firm Walton Street Capital will develop Crown 95 Logistics Center, a 381,200-square-foot distribution center that will be located in northeast Philadelphia. Crown 95 Logistics Center will feature a clear height of 36 feet and 3.5 acres of secured off-street parking for trailers, vans and cars. Construction is expected to begin before the end of the year and to be complete in the third quarter of 2022. Colliers International has been tapped to lease the Class A development.

June 4, 2021

Industrial Leasing Activity New Jersey Northeast

Amazon Signs 360,000 SF Industrial Lease in Rutherford, New Jersey

by Taylor Williams June 4, 2021

RUTHERFORD, N.J. — Amazon (NASDAQ: AMZN) has signed a 360,000-square-foot industrial lease at Highland Cross, a last-mile warehouse project under construction in the Northern New Jersey community of Rutherford. Lincoln Equities Group is developing Highland Cross, which will feature a cross-dock configuration, 70-plus dock high doors and 80-plus trailer parking stalls. Ford & Associates is designing the project, and RC Andersen LLC is serving as the general contractor. Completion is slated for early 2022. Jason Goldman of KBC Advisors represented Amazon in the lease negotiations. Lincoln Equities Group, which recently received $115 million in construction financing for the project, was represented internally.

June 4, 2021

Acquisitions Illinois Industrial Midwest

TriStar Sells 2 MSF Industrial Campus in Edwardsville, Illinois

by Kristin Harlow June 4, 2021

EDWARDSVILLE, ILL. — A joint venture led by developer TriStar Properties has sold a 2 million-square-foot industrial campus occupied by World Wide Technology (WWT) in Edwardsville near St. Louis. The sales price was undisclosed. TriStar developed the property as a build-to-suit for WWT in 2019. The campus includes two equally sized buildings with clear heights of 36 feet. One building is devoted to production and assembly of technology equipment while the other is utilized for storage and distribution of products. The facility is located within TriStar’s Gateway Commerce Center, a 2,300-acre logistics park. An undisclosed institutional buyer purchased the asset.

June 4, 2021

Acquisitions Industrial Midwest Ohio

IRG Acquires Former Teledyne Manufacturing Plant in Toledo, Ohio

by Kristin Harlow June 4, 2021

TOLEDO, OHIO — Industrial Realty Group LLC (IRG) has acquired a former Teledyne manufacturing plant in Toledo for an undisclosed price. The 373,000-square-foot facility sits on 30 acres. The seller, Toledo-Lucas County Port Authority, sold the building as well as an additional 40 acres to the north. The additional acreage is designed to accommodate up to 700,000 square feet of industrial space, according to IRG. Hometown Food Co., a division of Smuckers, will continue to lease a portion of the building. IRG has begun pursuing additional tenants as well as planning for new construction.

June 4, 2021

Development Illinois Industrial Midwest

Summit Design + Build Begins Warehouse Expansion Project for TLC Ingredients in Crest Hill, Illinois

by Kristin Harlow June 4, 2021

CREST HILL, ILL. — General contractor Summit Design + Build LLC has begun construction of a warehouse expansion project for TLC Ingredients in Crest Hill, just north of Joliet. Summit will add 55,012 square feet to the tenant’s existing 40,000-square-foot warehouse. Summit will also build a new break room, loading dock, bathroom and parking stalls. TLC Ingredients is a distributor of food additives including chemicals and phenolic resins. Harris Architects Inc. is the project architect. Completion is slated for this fall.

June 4, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 239,952 SF Industrial Property in Metro Austin

by Taylor Williams June 3, 2021

PFLUGERVILLE, TEXAS — JLL has negotiated the sale of Pecan 130 Business Park, a 239,952-square-foot industrial property located in the northern Austin suburb of Pflugerville. Constructed between 2013 and 2014, the two-building property sits on 15.3 acres and was 85 percent leased to seven tenants at the time of sale. Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Wesley Gilmer and Josh Villarreal of JLL represented the seller, Birtcher Anderson & Davis, in the transaction. Dogwood Industrial Partners, an affiliate of San Francisco-based TPG Real Estate Partners, purchased the asset for an undisclosed price.

June 3, 2021

Acquisitions Industrial Massachusetts Northeast

Newmark Negotiates Sale of 285,437 SF Industrial Property in Auburn, Massachusetts

by Taylor Williams June 3, 2021

AUBURN, MASS. — Newmark has negotiated the sale of a 285,437-square-foot industrial property at 26 Southbridge St. in Auburn, located south of Worcester. The property was fully leased to locally based soft drink distributor Polar Beverages at the time of sale. Robert Griffin, Edward Maher, Tony Coskren, Matthew Pullen, Samantha Hallowell and Brian Pinch of Newmark represented the undisclosed seller in the transaction. The team also procured the buyer, Westbrook Partners. The sales price was not disclosed.

June 3, 2021

Acquisitions Industrial Midwest Ohio Retail

Neyer Properties Purchases 400,000 SF Commercial Portfolio Across Cincinnati, St. Louis

by Kristin Harlow June 3, 2021

CINCINNATI — Neyer Properties has purchased a nearly 400,000-square-foot commercial portfolio occupied by Watson’s in a sale-leaseback transaction. The purchase price was undisclosed. The four-building portfolio consists of three retail assets and one industrial property that are located in the Cincinnati, Florence, Dayton and St. Louis markets. The sale-leaseback will enable Watson’s to free up capital as it looks to expand in additional markets, according to Neyer. The sale marks the first time Watson’s has sold its own real estate. Keith Yearout of Newmark represented Watson’s, which is a pool, spa and furniture retailer based in Cincinnati.

June 3, 2021

Acquisitions California Industrial Office Western

Voit Real Estate Brokers $47M Sale of Office/Industrial Portfolio in Southern California

by Amy Works June 3, 2021

CHULA VISTA AND MISSION VALLEY, CALIF. — Voit Real Estate Services has arranged the sale of a five-property office and industrial portfolio in Chula Vista and Mission Valley. Protea Properties acquired the portfolio from Carleton Management for $47 million. Totaling 231,878 square feet, the portfolio includes a 48,828-square-foot, fully leased industrial/showroom building at 630 Bay Blvd. in Chula Vista; a 32,601-square-foot, fully leased multi-tenant office property at 660 Bay Blvd. in Chula Vista; a 99,584-square-foot, fully occupied office/industrial building at 780-784 Bay Blvd. in Chula Vista; a 30,046-square-foot, single-tenant property at 830 Bay Blvd. in Chula Vista; and a 20,819-square-foot, multi-tenant office building located at 5920 Friars Road in Mission Valley. Tenants at the portfolio include Cox Communications, National University, Fresenius Medical, Bayfront Charter School and West Marine. Randy LaChance Sr. of Voit’s San Diego office represented the seller, while the buyer was self-represented.

June 3, 2021

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