Industrial

Associated Bank Provides $27.5M Construction Loan for Spec Industrial Project in Groveport, Ohio

by Kristin Harlow February 11, 2022

GROVEPORT, OHIO — Associated Bank has provided a $27.5 million loan for the construction of a 640,640-square-foot speculative industrial project in Groveport, a southern suburb of Columbus. The 47-acre site is located adjacent to Rickenbacker International Airport. The building will feature a clear height of 36 feet, 60 exterior docks, four drive-in doors, 185-foot truck courts and 154 trailer parking stalls. Completion is slated for this summer. The borrower, Groveport Venture LLC, is a partnership between CA Industrial Properties LLC, Stotan Industrial LLC and LaSalle Investment Management. Elizabeth Hozian, Evelyn Turner and Paul Henning of Associated Bank originated the loan, terms of which were not provided.

February 11, 2022

Acquisitions Industrial Midwest Wisconsin

Marcus & Millichap Arranges $17.5M Sale of Industrial Property in Wausau, Wisconsin

by Kristin Harlow February 11, 2022

WAUSAU, WIS. — Marcus & Millichap has arranged the $17.5 million sale of a 500,000-square-foot industrial property in the central Wisconsin city of Wausau. Located at 500 N. 72nd Ave., the building has served as a Midwest distribution center for Footlocker since its construction in 2001. Christian Hlavinka and Jon Rauh of Marcus & Millichap represented the seller, a partnership. The duo also secured the buyer, a private investor.

February 11, 2022

Acquisitions Industrial Michigan Midwest

Signature Associates Brokers Sale of 443,340 SF Industrial Building in Auburn Hills, Michigan

by Kristin Harlow February 11, 2022

AUBURN HILLS, MICH. — Signature Associates has brokered the sale of a 443,340-square-foot industrial building in Auburn Hills for an undisclosed price. Located at 3600 Giddings Road, the property features a clear height of 30 feet and 375 car parking spaces. Joe Hamway and Greg Hudas of Signature Associates represented the buyer, a partnership between Foundation Capital Partners LLC and Wheelock Street Capital LLC. The duo is now marketing the property for lease. Occupancy will be available in May.

February 11, 2022

Development Florida Industrial North Carolina South Carolina Top Stories

Crescent Communities Breaks Ground on Three Industrial Projects Totaling 1.7 MSF

by Julia Sanders February 11, 2022

CHARLOTTE, N.C. — Charlotte-based Crescent Communities has broken ground on three industrial properties totaling 1.7 million square feet. The company plans to build eight buildings across three markets known as AXIAL Crosspoint in Greenville, S.C.; AXIAL Bonds Farm in Concord, N.C.; and AXIAL 301 Manatee in Bradenton, Fla. The firm bought the project land for an undisclosed price, and the seller of the land was not disclosed. Along with the three land transactions, Crescent Communities announced a new brand name for its industrial platform, AXIAL Industrial. The brand will first be executed through the AXIAL Bonds Farm, AXIAL Crosspoint and AXIAL 301 Manatee projects, which are all set to begin construction soon this year and are slated for completion in 2023. “With the debut of AXIAL Industrial, we will provide our clients with a one-stop platform featuring a thoughtful and diligent process for each industrial development, from land acquisition to product development for each specific location and every stage in between,” says Bryan Blythe, managing director of AXIAL Industrial at Crescent Communities’ Commercial business unit. AXIAL Bonds Farm will feature three rear-load buildings totaling 809,720 square feet. The property will also offer various-sized buildings with ample employee parking. The property …

February 11, 2022

Development Industrial Leasing Activity Southeast Virginia

Lowe’s Signs Lease for 60,000 SF Warehouse Development in Salem, Virginia

by Julia Sanders February 10, 2022

SALEM, VA. — Lowe’s Home Centers LLC has signed a lease for a 60,000-square-foot warehouse in Roanoke County’s Valley Tech Park in Salem. Roanoke, Va.-based Samet Corp. and North Carolina-based Valley Tech Partners LLC purchased the 8.5-acre site at 0 Technology Drive for the project. Construction is expected to begin in the first quarter and will be completed within a year. Boyd Johnson of Cushman & Wakefield | Thalhimer arranged the Lowe’s lease and land acquisition on behalf of the landlords.

February 10, 2022

Acquisitions California Industrial Western

DAUM Negotiates Acquisition of Two Industrial Buildings Totaling 208,180 SF in Fremont, California

by Amy Works February 10, 2022

FREMONT, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of two fully leased industrial properties in Fremont. CenterPoint Properties acquired the assets from an undisclosed seller for $86 million. Jordan Lara of DAUM represented the buyer in the deal. Situated on 13.7 acres at 41099 Boyce Road, the properties offer a total of 208,180 square feet of industrial space with 28-foot clear heights and a fully secured site.

February 10, 2022

Industrial Leasing Activity Texas

American Canning Signs 154,786 SF Industrial Lease Expansion at Park 183 in Austin

by Taylor Williams February 10, 2022

AUSTIN, TEXAS — American Canning, which provides packaging services for the beverage industry, has signed a 154,786-square-foot, full-building industrial lease expansion at Park 183 in southeast Austin. American Canning plans to take occupancy of its larger space at Building 5 this spring when it relocates from its 45,309-square-foot space in Building 2. A partnership between Dallas-based Trammell Crow Co. and New York-based Clarion Partners is developing the 950,000-square-foot park in phases. John Barksdale and Joe Novek of CBRE represented the landlord in the lease negotiations. CBRE’s Darryl Dadon represented the tenant.

February 10, 2022

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Arranges Sales of Two Industrial Buildings Totaling 168,636 SF in Illinois

by Kristin Harlow February 10, 2022

ST. CHARLES AND BATAVIA, ILL. — Lee & Associates has arranged the sales of two industrial buildings totaling 168,636 square feet in central Kane County, which is located west of Chicago. In the first transaction, a 102,000-square-foot building in St. Charles sold to a publicly traded REIT. Michael Androwich Jr. of Lee & Associates represented the buyer, while Jeff Holmes of Regional Realty represented the seller, Wise Plastics. In the second transaction, Androwich represented buyer WP Industries in its purchase of a 66,636-square-foot building at 1260 Kingsland Drive in Batavia. Ellerman Commercial represented the undisclosed seller.

February 10, 2022

Industrial Loans Michigan Midwest

Ready Capital Closes $3.5M Acquisition Loan for Detroit Industrial Property

by Kristin Harlow February 10, 2022

DETROIT — Ready Capital has closed a $3.5 million loan for the acquisition and lease-up of a roughly 75,000-square-foot industrial property in the Southern I-275 Corridor of Detroit. The undisclosed borrower plans to address deferred maintenance and lease up the vacant building. The nonrecourse loan features a two-year term, floating rate and interest-only payments.

February 10, 2022

Industrial Leasing Activity New Jersey Northeast

Logistics Firm Signs 164,500 SF Industrial Lease in Saddle Brook, New Jersey

by Taylor Williams February 10, 2022

SADDLE BROOK, N.J. — ReadySpaces, a provider of warehousing and logistics services for small businesses, has signed a 164,500-square-foot industrial lease at 575 N. Midland Ave. in Saddle Brook, located outside of New York City in Bergen County. According to LoopNet Inc., the property sits on 7.3 acres and features clear heights of 14 to 28 feet. A supplier of corrugated boxes most recently occupied the facility. Mike Davis and Noah Balanoff of Colliers represented ReadySpaces in the lease negotiations.

February 10, 2022

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