Industrial

Southeast-Phoenix-Distribution-Center-Chandler-AZ

JLL Income Property Trust Buys Southeast Phoenix Distribution Center for $91M

by Amy Works March 3, 2021

CHANDLER, ARIZ. — JLL Income Property Trust has purchased Southeast Phoenix Distribution Center, a Class A distribution center located in Chandler, for $91 million. Constructed in 2019, the four-building campus features 474,000 square feet of space that can accommodate a wide range of tenants, ranging from 20,000 square feet to 135,000 square feet. The buildings offer 32-foot clear heights, ESFR sprinkler systems, grade- and dock-high doors and full concrete truck courts with fencing. The asset is situated at the confluence of Interstate 10 and Loop 202, 15 minutes from Sky Harbor International Airport and 20 minutes from downtown Phoenix.

March 3, 2021

California Development Industrial Western

CT Realty, Clarion Partners Break Ground on 145,840 SF South Bay Logistics Center in Carson, California

by Amy Works March 3, 2021

CARSON, CALIF. — CT Realty and Clarion Partners have commenced construction of South Bay Logistics Center, a Class A industrial facility in Carson. Located at 333 W. Gardena Blvd., the single-tenant, 145,840-square-foot building will feature 25 dock-high positions, 36-foot clear heights, a 144-foot secure truck yard, an ESFR K-25 sprinkler system, 5,500 square feet of modern two-story office space and ample parking. Completion is slated for this fall. Danny Williams, Barry Hill and John McMillan of Newmark are listing agents for the project.

March 3, 2021

Acquisitions Industrial New Jersey Northeast

Elion Partners Buys Industrial Property in Elizabeth, New Jersey, for $29.7M

by Taylor Williams March 3, 2021

ELIZABETH, N.J. — Miami-based investment firm Elion Partners has purchased a 207,000-square-foot industrial property in the Northern New Jersey city of Elizabeth that is located approximately two miles from Newark Liberty International Airport. The sales price $29.7 million. According to LoopNet Inc. the property was built on 8.6 acres in 1948 and renovated in 2019. The seller was not disclosed.

March 3, 2021

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates 130,000 SF Industrial Lease in Lodi, New Jersey

by Taylor Williams March 3, 2021

LODI, N.J. — CBRE has negotiated a 130,000-square-foot industrial lease at the former National Wholesale Liquidators building in the Northern New Jersey community of Lodi. Bill Waxman and Kevin Dudley of CBRE represented the tenant, AAA Wholesale, a supplier of household items, in the lease negotiations. The name and representative of the landlord were not disclosed.

March 3, 2021

Development Industrial Maryland Southeast

PCCP, Panattoni to Build 730,880 SF Industrial Project in Hagerstown, Maryland

by Julia Sanders March 3, 2021

HAGERSTOWN, MD. — PCCP LLC and Panattoni Development Co. Inc. have partnered in a joint venture to acquire a 90-acre site in Hagerstown for the speculative development of Creekside Logistics Center. The project will be a fully entitled, 730,880-square-foot industrial warehouse building featuring 40-foot clear heights. Located at 16422 National Pike, the project is anticipated for completion in December. Located directly south of the Pennsylvania/Maryland border, Creekside Logistics Center sits just off Interstate 81 in an area in high demand from big box distribution tenants. The project will feature multi-modal infrastructure, low operating costs, a super-regional highway network, regional parcel and freight hubs and a concentration of third-party logistics (3PL) carriers. PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. Panattoni Development is a privately held, full-service development company based in Irvine, Calif.

March 3, 2021

Acquisitions Industrial South Carolina Southeast

Avison Young Facilitates Sale of 587,720 SF Industrial Facility in Metro Charleston

by Julia Sanders March 3, 2021

SUMMERVILLE, S.C. — Avison Young has facilitated the sale of a 587,720-square-foot industrial property located at 537 Omni Industrial Blvd. in Summerville. The building was constructed in 2018 and is fully leased to 3G Distribution Services, a third-party logistics (3PL) provider. The Class A facility is situated on a 43-acre site within the Omni Industrial Campus, a 221-acre business park situated 28 miles from the Port of Charleston. The industrial facility features LED light fixtures, ESFR sprinkler systems and 36-foot clear heights. The property includes 79 docks (expandable to 111), as well as 151 remote trailer stalls, heavy power and a fenced lot. Erik Foster and Mike Wilson of Avison Young represented the sellers, Clarius Partners LLC and Wanxiang America Real Estate Group, in the transaction. Foster and Wilson also raised development equity on Clarius’ behalf in order to commence the project. The buyer was an institutional real estate venture capital firm, and the sales price was not disclosed. Clarius Partners is a full-service real estate investment and development company with offices in Chicago and Scottsdale, Ariz. Wanxiang America Real Estate Group is a Chicago-based real estate investment firm.

March 3, 2021

Development Illinois Industrial Midwest

Conor Commercial Underway on Development of 436,500 SF Spec Industrial Project in Bartlett, Illinois

by Kristin Harlow March 3, 2021

BARTLETT, ILL. — Conor Commercial Real Estate is underway on the development of Brewster Creek Commerce Center in Bartlett, about 35 miles northwest of Chicago. The speculative industrial project will span 436,500 square feet. Conor expects to serve e-commerce and logistics companies in need of large-scale distribution space. The building will feature a clear height of 36 feet, 54 truck docks, four drive-in doors, ESFR sprinklers, parking for 125 trailers and parking for 340 cars. Completion is slated for the second quarter. McShane Construction Co., V3 Cos. and Harris Architects Inc. make up the project team. The project is part of a larger 670-acre business park that is home to tenants such as McKesson, ITW, Greco & Sons, Rana, Creative Werks and Cheese Merchants of America.

March 3, 2021

Development Illinois Industrial Midwest

ML Realty Partners Completes 115,924 SF Spec Industrial Building in Glendale Heights, Illinois

by Kristin Harlow March 3, 2021

GLENDALE HEIGHTS, ILL. — ML Realty Partners has completed the development of a 115,924-square-foot speculative industrial building in Glendale Heights. Located at 760 E. North Ave., the project features a clear height of 32 feet, 26 exterior truck docks and two drive-in doors. ML Realty acquired the 7.5-acre site in fall 2019. Kelly Disser, Eric Tresslar, Michael Freitag and Dion Ursino of NAI Hiffman will market the property for lease. Meridian Design Build and Harris Architects made up the project team.

March 3, 2021

Development Industrial Midwest Nebraska

Clayco Underway on $85M Distribution Center for Dollar General Near Omaha

by Kristin Harlow March 2, 2021

BLAIR, NEB. — Clayco is serving as design-builder for Dollar General’s new distribution center in Blair, about 25 miles north of Omaha. Clayco recently broke ground on the $85 million property, which will span 800,000 square feet on 85 acres. Designed by Lamar Johnson Collaborative, the building will handle both dry and fresh items for the discount retailer. The facility will also include 180,000 square feet of cold storage space. Once fully operational in 2022, the development will create an estimated 400 new jobs in the surrounding community. The project is expected to add approximately $106 million annually to a 10-county area as well as provide $300,000 in job training funds. This project marks the sixth distribution center that Clayco will build for Dollar General. In August, Dollar General unveiled plans for the expansion of its cold storage footprint nationwide.

March 2, 2021

Acquisitions Florida Industrial Southeast

Birtcher Anderson & Davis, Belay Investment Group Purchases $17.1M Sunstate Business Park in Tampa

by Julia Sanders March 2, 2021

TAMPA, FLA. — A joint venture between Birtcher Anderson & Davis and Belay Investment Group has purchased Sunstate Business Park in Tampa for $17.1 million. The property’s eight buildings total 180,323 square feet of flex and industrial space and are located at the intersection of West Waters Avenue and Sunstate Street, two miles from Tampa International Airport. Ryan Vaught, Robyn Hurrell and Nathan Lynch of Colliers International represented the seller, Indianapolis-based Citimark. The buyer was self-represented. At the time of the sale, Sunstate Business Park was 91.1 percent leased to 26 tenants, including Freedom Scientific Inc., Cooper Speed, Calta’s Fitness Center and American Technologies Group. The property recently underwent capital improvements to refresh signage, landscaping and exterior paint. Having sold off over 1 million square feet in Tampa-based assets over the past two years, Sunstate Business Park is currently the only property Birtcher Anderson & Davis owns in the Tampa Bay market.

March 2, 2021

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