Industrial

Another Bright Year Anticipated for Columbus Industrial Market

by Kristin Harlow April 14, 2022

With low vacancy, positive absorption and robust leasing and investment activity, the Columbus industrial sector is positioned to experience a substantial amount of demand to continue throughout 2022 after a record-breaking year in 2021. Last year set the tone for historic construction and absorption and the market is poised to continue its strong momentum. It is easy to look at the map and see why Columbus is such a great logistics hub given its prime location within a 10-hour drive within 47 percent of the U.S. population, fairly flat topography and direct access to major freeways. There is one big piece of the pie that doesn’t always get noticed, which is the economic development powers that are putting Columbus on the map. Jobs Ohio and OneColumbus have done an incredible job attracting businesses to the state of Ohio. The biggest investment in the history of Ohio was announced this January when Intel revealed plans on building a new chip factory in New Albany. This $20 billion investment really put all eyes on the Northeast part of Columbus. As it gets tougher to get entitlements and zoning in other industrial submarkets, New Albany seems to be carrying a significant amount …

April 14, 2022

Development Industrial Midwest Wisconsin

HSA Commercial to Develop Three New Spec Warehouses Totaling 1.2 MSF in Southeast Wisconsin

by Kristin Harlow April 13, 2022

SOMERS AND OAK CREEK, WIS. — Chicago-based HSA Commercial Real Estate has unveiled plans to build three new speculative warehouses totaling nearly 1.2 million square feet in Southeast Wisconsin. Highland Commerce Center of Somers will span 910,000 square feet in Somers. Construction is scheduled to begin in the third quarter with completion slated for the second quarter of 2023. The project will feature a clear height of 40 feet. OakView II Industrial will span 154,810 square feet with a clear height of 32 feet. The project will be situated within the OakView Business Park in Oak Creek. Construction is scheduled to begin in June with completion slated for October. HSA also plans to build 150 West Oakview Industrial in the OakView Business Park. That building will span 131,244 square feet with a clear height of 32 feet. Construction is expected to begin in May and wrap up in September. The project team for all three buildings includes Pinnacle Engineering Group as civil engineer and Chicago-based Partners in Design as architect. PREMIER Design + Build Group will serve as general contractor for the Somers project, while Riley Construction will build both properties in Oak Creek.

April 13, 2022

Acquisitions Development Illinois Industrial Midwest

Panattoni Acquires 29 Acres in Aurora, Illinois, Plans 356,462 SF Spec Industrial Development

by Kristin Harlow April 13, 2022

AURORA, ILL. — Panattoni Development has purchased 29 acres in Aurora with plans to build a 356,462-square-foot speculative industrial development. Panattoni expects to break ground on the project this month. The industrial facility will feature a clear height of 36 feet, 34 loading docks, 139 trailer positions and 290 car parking spaces. Completion is slated for the third or fourth quarter of this year. Nick Krejci and Noel Liston of Darwin Realty/CORFAC International represented Panattoni in the acquisition. Darwin has been retained to market the project for lease.

April 13, 2022

Acquisitions Indiana Industrial Midwest

Colliers Arranges Sale of 320,219 SF Flex Industrial Building in Indianapolis

by Kristin Harlow April 13, 2022

INDIANAPOLIS — Colliers has arranged the sale of Franklin Road Business Center in Indianapolis for an undisclosed price. The two-story industrial flex building spans 320,219 square feet at 2855 N. Franklin Road. Originally built in 1961, the property features 16 docks, three drive-in doors, a 239-seat auditorium and office space. Franklin Road Business Center is 75 percent leased to five tenants, including Nakoma Products, Barrette and Siro Technology. Alex Davenport and Alex Cantu of Colliers represented the seller, Franklin Road Realty LLC. Denver-based Legacy Capital Partners Inc. purchased the asset.

April 13, 2022

Industrial Leasing Activity Texas

Samsung Signs 815,850 SF Industrial Lease Renewal in Coppell, Texas

by Taylor Williams April 13, 2022

COPPELL, TEXAS — South Korean multinational electronics corporation Samsung has signed an 815,850-square-foot industrial lease renewal at Point West Industrial Park, a 2.1 million-square-foot development in the central metroplex city of Coppell. According to LoopNet Inc., the property at 400 Dividend Drive totals just over 1 million square feet and was built on a 48.8-acre tract in 2007. Matt Hyman represented the landlord, Indianapolis-based REIT Duke Realty (NYSE: DRE), in the lease negotiations on an internal basis. Mark Becker and Jay Benner of Cushman & Wakefield represented Samsung.

April 13, 2022

Acquisitions Florida Industrial Southeast

Colliers Negotiates $21.8M Sale of Dairy Processing Facility in Miami

by Julia Sanders April 13, 2022

MIAMI — Colliers has negotiated the sale of the Borden Dairy Co./Velda Farms dairy processing facility in Miami for $21.8 million. Steven Wasserman and Erin Byers of Colliers represented the buyer, CP Logistics Miami 95 LLC, in the transaction. Harold Ginsberg from Southern Asset Service Corp. represented the seller, New Dairy Florida LLC, in the transaction. The buyer, which is an entity of Panattoni Development, has plans to redevelop the site into a 126,000-square-foot Class A warehouse. The current tenant for the past 50 years, Borden Dairy, will vacate the site for redevelopment. Construction is slated for completion by late 2023. Located at 501 NE 181st St., the property is situated 19.7 miles from the University of Miami and 15.7 miles from Miami International Airport.

April 13, 2022

Development Industrial Southeast Virginia

Clayco Breaks Ground on 330,000 SF Tyson Foods Facility in Southern Virginia

by Julia Sanders April 13, 2022

DANVILLE, VA. — Clayco has broken ground on Tyson Foods’ new poultry processing facility in Danville. Construction started last month and is slated for completion by the spring of 2023. Built on a 64-acre site, the project will be used primarily for the production of fully cooked, Tyson-branded chicken products. Tyson Foods has committed to purchasing 60 million pounds of Virginia-grown chicken over the next three years. The chicken processing plant’s features will include a mezzanine level, ASRS cold storage structure, raw materials storage, production and packaging space, a two-story space for offices, and cold storage spaces that will range in temperatures throughout the building. A wastewater treatment plant will also be included. Lamar Johnson Collaborative is the designer for the project, with Clayco in charge of designing and building. Other project partners include Concrete Strategies, Tucker Jones and Stock Engineering.

April 13, 2022

Arizona Development Industrial Western

VanTrust Real Estate Breaks Ground on 150-Acre Peoria Logistics Park in Arizona

by Amy Works April 13, 2022

PEORIA, ARIZ. — VanTrust Real Estate has broken ground on Phase I of Peoria Logistics Park, a 150-acre Class A industrial park in Peoria. Situated two miles east of Loop 101, Peoria Logistics Park will consist of up to eight buildings ranging from 100,000 square feet to 600,000 or more square feet. The first phase will feature a 157,000-square-foot distribution center, built for a Fortune 500 company, which is slated to open in early 2023. The 17.5-acre site will feature a modern industrial warehouse with the ability to accommodate future expansion. Willmeng Construction is serving as general contractor for Phase I. Cooper Fratt and John Werstler of CBRE represented VanTrust in the lease transaction and Ted Liles of Cresa represented the landlord. Butler Design Group is serving as architect for the project.

April 13, 2022

California Industrial Loans Western

PSRS Arranges $3.8M Refinancing for Industrial Property in San Diego

by Amy Works April 13, 2022

SAN DIEGO — PSRS has arranged the $3.8 million cash-out refinancing of a multi-tenant industrial property in San Diego’s Miramar neighborhood. Built in 1985, the 30,355-square-foot asset is 100 percent leased. Jennifer Mustard of PSRS secured the credit union execution, which provided the undisclosed borrower a 3.5 percent interest rate, 10-year term and $1 million cash out for other investments.

April 13, 2022

Acquisitions Arizona Industrial Western

ABI Multifamily Brokers $33.5M Sale of Park Central Luxury Townhomes in Phoenix

by Amy Works April 12, 2022

PHOENIX — ABI Multifamily has arranged the sale of Park Central Luxury Townhomes, a rental property located at 917 W. Glendale Ave. in Phoenix. Arizona-based FSO Capital Partners acquired the asset from California-based Next Wave Investors for $33.5 million, or $598,214 per unit. Completed in 2020, Park Central Townhomes features 56 townhomes residences spread across 28 two-story buildings on 3.3 acres. The property offers 54 three-bedroom/two-and-a-half bath and two four-bedroom/three-and-a-half bath units. Unit amenities include individual hot water heaters and HVAC units; quartz countertops; tile and hardwood flooring; walk-in closets; soft-close cabinets; backyards and walk-out balconies; washers/dryers; fully equipped kitchens; and attached direct-access two-car garages. Community amenities include gated access and a pool. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily Institutional Apartment Group represented the buyer and seller in the deal.

April 12, 2022

Newer Posts

Older Posts