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Industrial

DFW-Point35-Fort-Worth
DevelopmentIndustrialTexas

Stonemont Financial Breaks Ground on 485,680 SF Industrial Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Stonemont Financial Group has broken ground on DFW Point35, a 485,680-square-foot industrial project located less than three miles from the AllianceTexas master-planned community in Fort Worth. The development will consist of two rear-load warehouses totaling 218,400 and 267,280 square feet. Building features include 32-foot clear heights, ample car and trailer parking and contemporary office space. Completion is slated for summer 2022. Lee & Associates is marketing the property for lease.

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Amazon facility
AlabamaDevelopmentIndustrialSoutheast

Amazon Plans to Build Four Operations Sites in Alabama

by Julia Sanders

HUNTSVILLE, MONTGOMERY AND BIRMINGHAM, ALA. — Seattle-based Amazon.com Inc. (NASDAQ: AMZN) has unveiled plans to build four new operations sites in Huntsville, Montgomery and Birmingham. The company will build two new fulfillment centers in Huntsville, a receiving center in Montgomery and a delivery station in Birmingham. In Huntsville, Amazon recently opened a fulfillment center that allows Amazon employees to pick, pack and ship larger items to customers, such as bulk paper goods, outdoor equipment or rugs. Additionally, the 1 million-square-foot facility uses technologies and energy-efficient, zero-emission power industrialized truck (PIT) equipment. In 2022, Amazon plans to open another new fulfillment center in Huntsville. The 1 million-square-foot facility will be designed to receive, store and package heavy or bulky items like home appliances and will also use advance technologies and energy-efficient PIT equipment. The facility will provide more than 250 full-time jobs, according to Amazon. Also in 2022, Amazon plans open an inbound cross-dock facility in Montgomery. The 650,000-square-foot facility will be used to receive and consolidate items from vendors and facilitate shipment to fulfillment centers. The property will provide more than 500 full-time jobs, according to the retailer. Lastly, Amazon plans to break ground on a new Birmingham delivery station …

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Ready Capital
IndustrialLoansSouth CarolinaSoutheast

Ready Capital Closes on Acquisition Loan for 235,000 SF Industrial Property in Greenville

by Julia Sanders

GREENVILLE, S.C. — Ready Capital has closed on a $6.6 million financing for the acquisition, renovation and stabilization of a 20-bay, 235,000-square-foot, Class B industrial property in the South/Donaldson submarket of Greenville. The loan is a non-recourse, interest-only, floating-rate loan with a 36-month term and two extension options. The financing includes a facility to provide future funding for capital expenditures, tenant leasing costs and interest and carry shortfalls. Upon acquisition, the property will receive cosmetic updates. The buyer and seller were not disclosed.

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AcquisitionsIndustrialNew YorkNortheast

Colliers Negotiates $9.2M Sale of Long Island Industrial Building

by Taylor Williams

SHIRLEY, N.Y. — Colliers International has negotiated the $9.2 million sale of a 61,916-square-foot industrial building in the Long Island community of Shirley. The sales price equates to $149 per square foot. The building is leased to rubber products supplier Frank Lowe for the next five years. Jordan Baruch and Matthew Kucker of Colliers represented the buyer, Port Washington, N.Y.-based BEB Capital, in the transaction. Jason Maietta, Tommy Rosati and Brandon Lichtenstein, also with Colliers, represented the seller, Warco LLC, a real estate entity affiliated with Frank Lowe.

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IndustrialLoansNew JerseyNortheast

Ready Capital Closes $5M Acquisition Loan for Industrial Property in Garfield, New Jersey

by Taylor Williams

GARFIELD, N.J. — New York City-based Ready Capital has closed a $5 million loan for the acquisition and stabilization of an 11-bay industrial property in Garfield, located in Bergen County. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term and two extension options. The undisclosed sponsor plans to implement a capital improvement program at the property.

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Gibson-Business-Plaza-Henderson-NV
AcquisitionsIndustrialNevadaWestern

RDS Investments Buys 33,430 SF Industrial Property in Henderson, Nevada

by Amy Works

HENDERSON, NEV. — RDS Investments & Developments has acquired an industrial building located within Gibson Business Plaza at 149 and 145 N. Gibson Road in Henderson. Gibson BP LLC sold the asset for an undisclosed price. The property offers 33,430 square feet of industrial space. Brian Riffel and Tyler Jones of The Riffel Jones Industrial team at Colliers International represented the seller in the deal.

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IllinoisIndustrialLeasing ActivityMidwest

3M Signs 410,000 SF Industrial Lease Renewal in DeKalb, Illinois

by Kristin Harlow

DEKALB, ILL. — Multinational conglomerate 3M has signed a 12-year lease renewal for its 410,000-square-foot distribution hub in DeKalb, about 65 miles west of Chicago. The property is located at 1211 Fairview Drive. Jenny Aust Turner of Cresa represented 3M in the lease. Modiv Inc., a California-based REIT, is the building landlord.

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DevelopmentIllinoisIndustrialMidwest

Amazon Builds New Delivery Station in Chicago’s West Humboldt Park

by Kristin Harlow

CHICAGO — Amazon is building a new delivery station in Chicago’s West Humboldt Park neighborhood. The 141,360-square-foot development will expand the e-commerce giant’s delivery infrastructure for customers in the Chicago area. A delivery station is the last stop an Amazon package makes prior to reaching the customer. The project site is located near the intersection of Kostner Avenue and Division Street. The building is slated for completion by 2023. Venture One Real Estate LLC is the developer and PREMIER Design + Build Group is the general contractor.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Brokers Sale of 74,146 SF Industrial Building in Suburban Chicago

by Kristin Harlow

DOWNERS GROVE, ILL. — Brown Commercial Group has brokered the sale of a 74,146-square-foot industrial building in the Chicago suburb of Downers Grove for an undisclosed price. The property is located on Thatcher Road. Mike Antonelli and Trinity Scurto of Brown represented the seller, Premium Investment Properties Inc. Antonelli represented the buyer, Beco Management Inc. The building is partially leased and the new owner plans to bring it to full occupancy.

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IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Columbus Industrial Market Is Going Strong for Eighth Straight Quarter

by Kristin Harlow

Columbus has been the shining star of the industrial real estate market over the last five years, and for the eighth straight quarter, it has more than 5 million square feet under construction. This year is on track for more than 10 million square feet, with half of that already absorbed in the first part of the year.  A question I always get is, “Why Columbus?” The answer (and the sell) is quite simple — location and population. Columbus is a 10-hour drive within 46 percent of the country’s population and manufacturing base. Incentives play a large role in the process as well, which enables developers to be competitive and drives tenants to the markets. Labor is always a factor in site selection, but now more than ever it tops the list as one of the most vital components of the decision-making process of choosing a site. With the Columbus region ranking No. 1 in the Midwest for population, jobs and GDP growth, it’s natural for developers to be highly attracted to the area.  Columbus has three major industrial submarkets: West Jefferson, Rickenbacker and Etna Township. The West Jefferson submarket is home to Amazon, Target, Restoration Hardware and JoAnn Fabric. …

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