Industrial

Trammell Crow Co. to Develop 755,928 SF Industrial Facility Near Charlotte

by Julia Sanders July 20, 2021

KANNAPOLIS, N.C. — Trammell Crow Co. (TCC) has plans to develop Metro63, a new 755,928-square-foot, speculative industrial facility near Charlotte. Construction is expected to begin this month, with delivery slated for August 2022. Located at 5700 Royce St. in Kannapolis, Metro63 is situated on a 94-acre site. The property will feature 40-foot clear heights, an 8-inch reinforced floor slab, 580-foot building depth with 65-foot speed bays, ESFR fire protection, 172 trailer drops, 490 auto parking spaces and 10 acres of auxiliary parking for trailer or car parking. Metro63 is located less than half a mile from Interstate 85, 25 miles northeast of Uptown Charlotte and about 32.7 miles from the Charlotte Douglas International Airport. Samet Corp. is the general contractor on the project. Atlanta-based Cadence Bank is providing an undisclosed amount of construction financing. Sink Kimmell of Selwyn Property Group represented the undisclosed land sellers, and Henry Lobb of Avison Young represented TCC. Lobb and Tom Tropeano, also with Avison Young, are handling leasing for the project.

July 20, 2021

Acquisitions Georgia Industrial Southeast

Rockefeller Group Sells 222,618 SF Distribution Center in Braselton, Georgia

by Julia Sanders July 20, 2021

BRASELTON, GA. — Rockefeller Group has sold a 222,618-square-foot distribution center in Braselton to Cabot Properties for an undisclosed price. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the seller in the transaction. Since March 2021, the building, known as Braselton 85, has been fully leased to Duckyang America Inc., a Korean automotive equipment supplier that is using the property for warehousing and light manufacturing. The company manufactures and distributes cockpit modules, instrument panels and door trims for the automotive industry. The property sits along Broadway Avenue near Interstate 85 North. Atlanta-based Pattillo Construction began construction on 85 Braselton in the fall of 2020 and delivered the asset in March. The newly built facility includes an ESFR sprinkler system, 26 onsite trailer drops, 134 auto parking spaces, 47 dock doors with two drive-in doors, 32-foot clear heights and LED lighting.

July 20, 2021

Development Industrial Texas

Koontz Corp. to Develop 300-Unit Apartment Project in San Antonio

by Taylor Williams July 20, 2021

SAN ANTONIO — Locally based firm Koontz Corp. will develop a 300-unit apartment project that will be located at the site of a former Regal Fiesta 16 movie theater at 12631 Vance Jackson Road in San Antonio. The 267,000-square-foot property, which will be situated on 10.3 acres, will feature one- and two-bedroom residences and amenities such as two pools and a dog park. Koontz Corp. will serve as developer and general contractor, and other project partners will include Garcia + Associates Architects and Pape-Dawson Engineers. Construction is expected to begin in early 2022 and to be complete some time in 2024. The property is currently being referred to as Fiesta Trails Apartment Community, but the developer plans to release a formal name and branding at a later date.

July 20, 2021

Acquisitions Industrial New Jersey Northeast Self-Storage

SVN Negotiates Sale of 3,147-Unit Self-Storage Portfolio in New Jersey

by Taylor Williams July 20, 2021

NEW JERSEY — National brokerage firm SVN has negotiated the sale of a portfolio of self-storage facilities located throughout New Jersey that consists of 3,147 units and 393,400 net rentable square feet. The portfolio comprises five stabilized facilities that were originally built in the mid-1980s and two expansion projects. Nick Malagisi and Hans Hardisty of SVN brokered the deal. The buyer and seller were not disclosed.

July 20, 2021

Development Industrial New Jersey Northeast

Crow Holdings to Develop 1.2 MSF Industrial Project in Millstone, New Jersey

by Taylor Williams July 20, 2021

MILLSTONE, N.J. — Crow Holdings will develop Millstone 8 Logistics Center, a 1.2 million-square-foot industrial project that will be located in Millstone, an eastern suburb of Trenton. The project will consist of a 1 million-square-foot building and a 220,000-square-foot building that will be developed on a 140-acre parcel. The first building will feature a clear height of 40 feet, 274 trailer parking stalls and 172 loading doors, while the second building will offer a clear height of 36 feet, 37 dedicated trailer parking stalls and 50 loading doors. Construction is expected to be complete in the second quarter of 2022. Crow Holdings is developing the property in partnership with The Carlyle Group and 2020 Acquisitions. JLL will handle leasing.

July 20, 2021

Industrial Market Reports Multifamily Texas Texas Market Reports

Growing Pool of Investors Targets Multifamily, Industrial Deals in Fort Worth

by Taylor Williams July 20, 2021

By Bobby Weinberg, senior vice president of debt and equity, NorthMarq Employment growth is providing a powerful tailwind for the Dallas-Fort Worth (DFW) commercial real estate market. And while Dallas may be the headline name that is attracting employers and investment capital to the metroplex, Fort Worth is commanding attention as a formidable market in its own right. DFW embodies a classic story of a high tide raising all boats. The metro has been one a national leader in terms of employment growth for several years, and the region is expected to add another 150,000 jobs this year. Employers that are looking to tap into that workforce are finding that Fort Worth checks all the right boxes. It has an educated labor pool with colleges and universities that include Texas Christian University and the nearby University of Texas-Arlington, among others. Furthermore, the city has a business-friendly government. An important third leg to that stool involves the affordable cost of living for workers. Fort Worth offers a multitude of workforce housing options — both in its single-family residential and its growing multifamily sector — that provide lifestyle choices for workers that employers like. Investors are discovering that there is not a …

July 20, 2021

Industrial Leasing Activity Texas

TricorBraun Signs 70,106 SF Industrial Lease at Ella West Crossing in East Houston

by Taylor Williams July 19, 2021

HOUSTON — TricorBraun, a designer and distributor of packaging supplies, has signed a 70,106-square-foot industrial lease at Ella West Crossing, a 221,363-square-foot development in East Houston. The property, which is located within Pinto Business Park, features 32-foot clear heights, an ESFR sprinkler system and 67 trailer parking spaces. Kelly Landwermeyer, Craig Bean and John Kruse of Dallas-based Holt Lunsford Commercial represented the landlord, Seefried Industrial Partners, in the lease negotiations. Steve Schmid and Will Condrey of Cresa represented the tenant.

July 19, 2021

Industrial Leasing Activity Texas

Cherokee Federal Signs Two New Leases at TexAmericas Center

by Taylor Williams July 19, 2021

TEXARKANA, TEXAS — Cherokee Federal, a contractor that serves the construction, engineering, manufacturing and defense industries, has signed two new lease agreements with TexAmericas Center (TAC) to accommodate the company’s expansion. Cherokee Nation Red Wing, a defense contractor serving the Red River Army Depot, will lease a 19,228-square-foot light manufacturing space at 154 Service St. This move represents an expansion of the company’s existing 126,00-square-footprint at 312 Panther Creek Drive on TAC’s central campus. In addition, the company’s aerospace and defense department will lease 4,000 square feet of office space at 342 Texas Ave. TexAmericas Center owns and operates roughly 12,000 development-ready acres of land and about 3.5 million square feet of commercial and industrial product that serve four states.

July 19, 2021

Acquisitions Industrial New Jersey Northeast

Dermody Properties Acquires 72,045 SF Warehouse in Moonachie, New Jersey

by Taylor Williams July 19, 2021

MOONACHIE, N.J. — Nevada-based investment and development firm Dermody Properties has acquired a 72,045-square-foot warehouse that is situated on a three-acre site in Moonachie, located in Bergen County. The property offers proximity to Interstates 95, 80 and 78 and features a clear height of 20 feet, 62 parking spaces and 9,388 square feet of office space. Gary Stein of Savills, along with Craig Engelhardt and Steve Korfiatis of Newmark, represented Dermody Properties, which will implement a value-add program in the transaction. Capital improvements will include repaving the truck court and parking areas, installing new dock packages and fully renovating the existing office space. KBC Advisors will market the property for lease beginning in the fourth quarter.

July 19, 2021

Development Industrial Massachusetts Northeast Office

Kula Bio to Open 7,500 SF Headquarters in Natick, Massachusetts

by Taylor Williams July 19, 2021

NATICK, MASS. — Kula Bio, a provider of fertilizer for the agriculture industry, will open a 7,500-square-foot headquarters facility in the western Boston suburb of Natick. The company has tapped Massachusetts-based Dacon Corp. to lead the retrofit of an existing 14,350-square-foot building, with plans to immediately occupy 7,500 square feet and leave 6,850 square feet for future expansion. Completion of the retrofit is scheduled for October. About 30 people will work in the new facility.

July 19, 2021

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