Industrial

Cushman & Wakefield Arranges $86.6M Sale of Industrial Portfolio Across North Carolina

by Julia Sanders February 17, 2022

CHARLOTTE AND WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged the $86.6 million sale of the North Carolina Interstate 40/Interstate 85 Industrial Portfolio, a group of 22 industrial buildings located in the greater Charlotte and Triad regions. Nolan Ashton, Rob Cochran and Bill Harrison of Cushman & Wakefield represented the seller, Charis Cos. Tom Sullivan, Richard Henry and Ross Fishman of Cushman & Wakefield also secured an undisclosed amount of acquisition financing for the buyer, Boston-based SVN Parsons Commercial Group. Cushman & Wakefield, led by Bobby Finch, will handle leasing efforts for the portfolio. The North Carolina Interstate 40/Interstate 85 Industrial Portfolio includes the following properties: • Nine buildings in Winston-Salem located at 4303 Idlewild Industrial Drive, 4965 Indiana Ave., 5160-5190 Indiana Ave., 4320 Enterprise Drive, 4415 Providence Lane and 1330 Ivy Ave. • Four buildings in Clemmons located at 6220-6295 Clementine Drive • One building in Lexington located at 111-113 Woodside Drive • One building in Salisbury located at 1335 Litton Drive • Seven buildings in Newton located at 1523/1527 7th St. SE, 2309 N College Ave. and 2855-2859 and 2875 Nathan St. The portfolio features a total of nearly 1.6 million square feet and was 98 percent leased …

February 17, 2022

219-Rockingham-Road-Londonderry-New-Hampshire

Acquisitions Industrial New Hampshire Northeast

Provender Partners Buys Two Cold Storage Facilities Totaling 316,000 SF in New Hampshire

by Taylor Williams February 17, 2022

LONDONDERRY, N.H. — California-based investment firm Provender Partners has acquired two cold storage facilities totaling roughly 316,000 square feet in Londonderry, located south of Manchester. The 191,836-square-foot facility at 219 Rockingham Road features 24,000 pallet positions and 30-foot clear heights, while the 124,100-square-foot warehouse at 6 Rockingham Road offers 14,000 pallet positions and 30-foot clear heights. Both facilities house freezer, refrigerated dock and office space. Kevin Griffiths of Newmark represented Provender Partners in the off-market sale. Brian Pinch, also with Newmark, represented the seller, an undisclosed, New York-based investment firm.

February 17, 2022

Acquisitions Industrial New York Northeast

Realterm Acquires 112,791 SF Warehouse in Armonk, New York

by Taylor Williams February 17, 2022

ARMONK, N.Y. — Global logistics operator Realterm has acquired a 112,791-square-foot warehouse in Armonk, located in Westchester County. The facility sits on a total of 5.5 acres, including 1.5 acres of undeveloped land for future expansion. Additional building features include 10,391 square feet of office space, 15 dock-high doors and two drive-in loading positions. Charlie Luce and John Meador of Casco Real Estate Partners represented Realterm in the transaction. The seller and sales price were not disclosed.

February 17, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties, Buligo Capital Acquire 265,000 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow February 17, 2022

ILLINOIS — A joint venture between Clear Height Properties and Buligo Capital Partners has acquired a five-building industrial portfolio spanning 265,000 square feet in metro Chicago for an undisclosed price. The properties, built between 1982 and 2009, are located in Hoffman Estates, Schaumburg, Aurora and Bloomingdale. The portfolio is fully leased to Honda, Novaspect, BERNINA of America and Abrasive Form. The buyers plan to implement a capital improvement program to upgrade the HVAC and other interior systems, lighting, the roof and the general building envelope. Kurt Sarbaugh and John Huguenard of JLL represented the seller, Chicago-based Green Door Capital Investments LLC. Christopher Carroll and Lucas Borges of JLL arranged a five-year, fixed-rate acquisition loan through Bank Leumi USA.

February 17, 2022

Acquisitions Industrial Midwest Ohio

Industrial Commercial Properties, Jade-Sterling Steel Buy 200,000 SF Manufacturing Facility Near Cleveland

by Kristin Harlow February 17, 2022

BEDFORD HEIGHTS, OHIO — Industrial Commercial Properties (ICP), in a joint venture with Jade-Sterling Steel Co. Inc., has purchased a 200,000-square-foot manufacturing facility in Bedford Heights, a southeast suburb of Cleveland. The purchase price was undisclosed. Jade-Sterling plans to consolidate several locations into a new corporate headquarters at the property, which is located at 26400 Richmond Road. The company employs approximately 100 people, with 50 moving from Twinsburg to Bedford Heights. The facility will undergo an interior and exterior renovation to improve crane capacity and truck access and add office space. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented Jade-Sterling and the seller. Denise Hahn of Weber Wood Medinger represented ICP.

February 17, 2022

Acquisitions Industrial Michigan Midwest NAI

NAI Wisinski of West Michigan Brokers Sale of 19,972 SF Industrial Building in Grand Rapids

by Kristin Harlow February 17, 2022

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has brokered the sale of a 19,972-square-foot industrial building in Grand Rapids for an undisclosed price. The property is situated at 2882 Northridge Drive NW. Andrew Kapanowski and Doug Taatjes of NAI Wisinski represented the seller, Unisource Office Furniture Parts. Max Grover of Moxie represented the buyer, Lumber2Love, a manufacturer of high-quality wood furniture.

February 17, 2022

Development Industrial Texas

TGS Cedar Port to Develop 507,000 SF Warehouse for Article in Metro Houston

by Taylor Williams February 16, 2022

BAYTOWN, TEXAS — TGS Cedar Port Partners LP, the owner of the 15,000-acre Cedar Port Industrial Park near Port Houston, will develop a 507,000-square-foot warehouse for online furniture retailer Article. John Simons and Gray Gilbert of NAI Partners represented TGS Cedar Port in the lease negotiations for the build-to-suit project. Andrew Lord and Walker Barnett of Colliers represented Article. Other tenants at the rail- and barge-served park include The Home Depot, Floor & Décor, IKEA, Walmart, Vinmar and Ravago. Site work will begin before the end of the current quarter, and the project is expected to be complete before the end of the year.

February 16, 2022

Acquisitions Industrial Texas

Fort Capital Buys 145,619 SF Industrial Property in Metro Houston

by Taylor Williams February 16, 2022

WEBSTER, TEXAS — Fort Worth-based investment firm Fort Capital has purchased Hercules Business Center, a 145,619-square-foot industrial property in the southeastern Houston suburb of Webster. The seven-building development was 68 percent leased at the time of sale. The tenant roster includes 29 users in the engineering, automation, electronics and medical sectors. The seller and sales price were not disclosed.

February 16, 2022

Development Industrial Texas

TIG Real Estate Underway on 127,810 SF Industrial Project in Flower Mound, Texas

by Taylor Williams February 16, 2022

FLOWER MOUND, TEXAS — Locally based developer TIG Real Estate Services is underway on construction of a 127,810-square-foot industrial project in the Fort Worth suburb of Flower Mound. Designed by Meinhardt & Associates, the project is a build-to-suit for Niagara, a manufacturer of water and energy conservation products. The facility, which will serve as Niagara’s new headquarters, will feature 49-foot clear heights, 19 overhead dock doors and one drive-up ramp. Cadence McShane is the general contractor for the development, which is slated for a fourth-quarter completion.

February 16, 2022

Development Industrial Michigan Midwest

Innovo Breaks Ground on 425,000 SF Spec Industrial Project in Detroit

by Kristin Harlow February 16, 2022

DETROIT — Innovo has broken ground on a 425,000-square-foot speculative industrial project at Gateway Industrial Center in Detroit. The new building will offer 62 docks, 317 vehicle parking spaces, 100 trailer parking spaces and a clear height of 36 feet. Innovo is also completing improvements to the existing buildings within the 1 million-square-foot business park, which is fully occupied. Sean Cavanaugh and Colin McCausland of JLL will market the new building for lease.

February 16, 2022

Newer Posts

Older Posts