Industrial

AQUILA Commercial Brokers Sale of 152,234 SF Industrial Building in Hutto, Texas

by Taylor Williams February 16, 2021

HUTTO, TEXAS — Austin-based AQUILA Commercial has brokered the sale of Innovation Business Park Building III, a 153,234-square-foot industrial building located at 1150 New Technology Blvd. in Hutto, located northeast of Austin. Dogwood Industrial Properties, a platform backed by TPG Real Estate Partners, purchased the asset from Titan Development for an undisclosed price. Titan Development delivered the building in the fourth quarter of 2020. At the time of sale, the property was 62 percent leased to EDC Moving Systems.

February 16, 2021

Acquisitions Illinois Industrial Midwest

Silver Creek Development Acquires 2 MSF Distribution Center in Metro Chicago

by Kristin Harlow February 16, 2021

WILMINGTON, ILL. — Silver Creek Development has acquired a 2 million-square-square-foot distribution center in Wilmington within metro Chicago for an undisclosed price. Michelin North America fully occupies the facility, which is located on 91 acres at 29900 S. Graaskamp Blvd. The property is situated within the Ridgeport Logistics Center, which is located in Chicago’s I-80 submarket. Originally constructed in 2015 as a build-to-suit for Michelin, the facility was expanded in 2016. It features a clear height of 32 feet, 126 dock-high doors, four drive-in doors and trailer parking. Matthew Schoenfeldt and Eliott Zeitoune of JLL Capital Markets arranged acquisition financing through Pacific Life Insurance Co.

February 16, 2021

Development Illinois Industrial Midwest

Mid-American Elevator to Build New Headquarters in East Dundee, Illinois

by Kristin Harlow February 16, 2021

EAST DUNDEE, ILL. — Mid-American Elevator Co. is building a new corporate headquarters in East Dundee, about 40 miles northwest of Chicago. The company is relocating from downtown Chicago. The 45,000-square-foot industrial build-to-suit is situated within the Prairie Lake Business Park. Cory Kay, Jeff Locascio and Mike DeSerto of Entre Commercial Realty represented Mid-American Elevator in the transaction as well as the developer, Triumph Construction. Completion is slated for May. Additionally, the Entre team represented Mid-American Elevator in the sale of its 22,500-square-foot office building in Chicago for $4.1 million.

February 16, 2021

Acquisitions California Data Centers Industrial Western

Capital Source 1031 Acquires 16,529 SF Data Center in La Mirada, California

by Amy Works February 16, 2021

LA MIRADA, CALIF. — Capital Source 1031 has purchased an all-purpose data center, located at 16680 Valley View Ave. in La Mirada, for an undisclosed price. The property was acquired for CS1031 California Data Center, a Delaware statutory trust. Cogent Communications, an internet service provider, occupies the 16,529-square-foot building. Cogent delivers internet, ethernet and colocation services to more than 88,100 customers in more than 207 markets and 47 countries across the globe. The tenant has more than 13 years remaining on its double-net lease with annual rental increases of 3 percent through the initial term and two five-year renewal options. Jeffrey Jackson of CBRE Capital Markets represented the undisclosed seller, while Capital Source 1031 was self-represented the in the deal.

February 16, 2021

Development Industrial Texas Top Stories

Rastegar to Build 530,000 SF Industrial Park Near Tesla’s Gigafactory in Austin

by John Nelson February 16, 2021

AUSTIN, TEXAS — Rastegar Industrial, a division of Austin-based Rastegar Property Co., plans to build a 530,000-square-foot industrial park in Austin. The developer is targeting a third-quarter 2022 delivery and has tapped Newmark to market the property for lease. The unnamed project will span 50 acres near State Highway 130 at 11708 McAngus Road, which is within an opportunity zone. The development will be situated near Tesla’s new Gigafactory, as well as Austin-Bergstrom International Airport. “Austin is one of the fastest growing metros in the United States. The world’s greatest tech companies and manufacturers are all moving to the region, creating an imminent need for more industrial space,” says Ari Rastegar, founder and CEO of Rastegar Property Co. “State Highway 130 stretches all the way down to San Antonio and provides an alternative route to heavily congested Interstate 35, making it appealing to industrial facilities for distribution. It is the most active corridor in the entire region.” Also along the State Highway 130 corridor, Chanel is completing a manufacturing facility and Formula 1 racetrack Circuit of the Americas is being redeveloped to include a hotel and water park. Rastegar is banking on the high demand for contiguous industrial product in …

February 16, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 601,261 SF Industrial Building Near Port Houston

by Taylor Williams February 15, 2021

PASADENA, TEXAS — JLL has negotiated the sale of a 601,261-square-foot industrial building located near Port Houston in Pasadena. The rail-served building is situated on 31 acres and features 32-foot clear heights, 62 dock-high doors, outside storage and trailer parking and ESFR sprinkler systems. Rusty Tamlyn, Trent Agnew and Charles Strauss of JLL brokered the transaction between the seller, Link Logistics Real Estate, and the buyer, Illinois-based CenterPoint Properties.

February 15, 2021

Development Illinois Industrial Midwest

Bridge Development Partners to Expand Schiller Park Industrial Development

by Kristin Harlow February 15, 2021

SCHILLER PARK, ILL. — Bridge Development Partners LLC has acquired two existing industrial buildings in Schiller Park with plans to develop the sites into Bridge Point Schiller Park III and IV. Bridge purchased the buildings from Duravant, an equipment and automation solutions provider for the food processing, packaging and material handling sectors. Bridge will demolish the outdated structures and develop two buildings totaling 62,038 square feet and 54,080 square feet, respectively. Each facility will feature a clear height of 32 feet, 125-foot truck courts and five exterior docks. Completion is slated for the fourth quarter of this year. Bridge completed buildings I and II in 2016 and leased them to five different tenants. Steve Stone and David Friedland of Cushman & Wakefield represented Duravant in the transaction. Duravant is relocating its headquarters to one of Bridge’s facilities in Wood Dale.

February 15, 2021

Illinois Industrial Leasing Activity Midwest

Frozen Assets Signs 86,000 SF Cold Storage Lease in Chicago

by Kristin Harlow February 15, 2021

CHICAGO — Frozen Assets has signed an 86,000-square-foot cold storage lease in Chicago. The property is located at 4220 S. Kildare Ave. Frozen Assets, a Chicago-based cold storage and logistics provider, is slated to occupy the space beginning in May. Steven Livaditis of CBRE represented the tenant in the lease transaction. The landlord was undisclosed. With the new lease, Frozen Assets will maintain the largest freezer footprint in Chicago, according to CBRE.

February 15, 2021

California Development Industrial Western

Premier Design + Build Constructing Three Industrial Facilities in Southern California for Black Creek Group

by Amy Works February 15, 2021

RIVERSIDE COUNTY, SAN BERNARDINO COUNTY AND TORRANCE, CALIF. — Premier Design + Build, as contractor, is constructing three industrial facilities in Southern California for Black Creek Group, a Denver-based real estate investment management firm. Totaling nearly 696,000 square feet, the projects include Perris DC III in Riverside County, Fontana Logistics Center in San Bernardino County and Gateway Logistics Center in Torrance. Situated on 24.5 acres, Perris DC III will feature a 251,000-square-foot facility with 32-foot clear heights, 37 truck dock positions, a drive-in door and 216 excess trailer stalls. Perris DC III is slated for completion in first-quarter 2021. Located on a vacant 8.9-acre site, Fontana Logistics Center will feature a 193,000-square-foot industrial warehouse offering 36-foot clear heights, 27 truck dock positions, two drive-in doors and office space. Completion is scheduled for first-quarter 2021. Slated for completion in fourth-quarter 2021, Gateway Logistics Center will feature a 252,000-square-foot building with 36-foot clear heights, 42 truck doors, two drive-in doors and 67 trailer parking stalls.

February 15, 2021

California Development Industrial Western

Trammell Crow, CBRE Global Investors to Develop 410,076 SF Butterfield 5 Technology Park in Morgan Hill, California

by Amy Works February 15, 2021

MORGAN HILL, CALIF. — Trammell Crow Co. and CBRE Global Investors have broken ground on Butterfield 5 Technology Park in Morgan Hill, approximately 70 miles southeast of San Francisco. Totaling 410,076 square feet, the park will feature five Class A industrial buildings on 24 acres at the intersection of Butterfield and Sutter boulevards. Completion is scheduled for first-quarter 2021. The buildings will range from 70,280 square feet to 91,738 square feet and are designed to accommodate tenants that require as little as 35,000 square feet of space. The buildings will feature prominent glass entries, extensive landscaping, clear heights ranging from 28 feet to 32 feet, and convenient access to Monterey Road and US 101. CBRE’s Rob Shannon, Chip Sutherland and Brian Matteoni is representing the project.

February 15, 2021

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