LEBANON, PA. — Third-party logistics company DHL Supply Chain will open a 970,000-square-foot distribution center in Lebanon, an eastern suburb of Harrisburg. DHL Supply Chain is both the developer and end user of the project, which will be part of a larger, two-building development. The project is expected to generate $88 million in capital investment for the region and add about 200 jobs to the local economy. Construction of the first facility is expected to begin in mid-July and to be complete in the first quarter of 2022.
PHILLIPSBURG, N.J. — CBRE has negotiated a 607,269-square-foot industrial lease in Phillipsburg, located on the New Jersey-Pennsylvania border. The tenant, Italian logistics form OMLog, will occupy space within Building 3 at Bridge Point 78, a 3.9 million-square-foot master-planned development by Bridge Industrial and PGIM Real Estate. Jake Terkanian, Mindy Lissner and Vincent Ranalli of CBRE represented the landlord in the lease negotiations. Kevin Dudley, also with CBRE, represented the tenant.
NEW YORK CITY — Building materials supplier City Lumber has signed a 73,000-square-foot headquarters lease at 84-00 73rd Ave. in the Glendale area of Queens. The property includes warehouse and office space, as well as 32,500 square feet of outdoor space for additional storage or parking needs. The lease term is 12 years, and the rental rate equates to $23 per square foot. Josh Berger and Alex Lubin of Norman Bobrow & Co. represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
WEST JEFFERSON, OHIO — The Pizzuti Cos. and development partner West Jeff Partners LLC have broken ground on a nearly 1.1 million-square-foot speculative warehouse in West Jefferson, a city in central Ohio about 20 miles west of downtown Columbus. The facility will be situated within the larger West Jefferson Logistics Center, which is located off I-70. The project will include dedicated public roadways and utility extensions. The building will feature a clear height of 40 feet, up to 211 dock doors and up to 320 trailer parking spaces. Construction is slated for completion in the second quarter of 2022. Jeff Lyons and Alex Vulic of CBRE will market the project for lease.
EDWARDSVILLE, ILL. — TriStar Properties has sold a 593,094-square-foot distribution center and 54 associated acres in Edwardsville near St. Louis. An institutional buyer purchased the asset for an undisclosed price. The property is located at 3077 Gateway Commerce Center Drive. Constructed in 2018, the facility is part of TriStar’s Gateway Commerce Center, a 2,300-acre regional logistics and bulk distribution park. The building features a clear height of 36 feet and parking for more than 400 vehicles.
PLAINFIELD, IND. — Developer HSA Commercial Real Estate has selected Meridian Design Build to construct a 278,148-square-foot speculative industrial building in Plainfield. Located at 915 Airtech Parkway, the project will sit on 25 acres. Precast delivery is scheduled for mid-August. The building will feature a clear height of 32 feet, up to 54 loading docks, four drive-in doors, 400 auto parking spaces and 143 trailer parking stalls. The project marks Meridian’s fifth ground-up development in the Indianapolis area and its third building for HSA. The project team includes Cornerstone Architects, Swift Structural Design and American Structurepoint. Terry Busch and Jared Scaringe of CBRE will market the property for lease.
By Adam Haefner, Avison Young The Chicago industrial market continues to move at full speed at mid-year 2021, with strong tenant demand keeping vacancy around 6 percent, despite 64.7 million square feet of new construction added since 2018. At this stage in the pandemic recovery, large corporate healthcare, retail, logistics and e-commerce businesses continue to drive much of the leasing activity, which totaled 27.5 million square feet near the mid-point of 2021. Companies such as Wayfair, which is building a 1.2 million-square-foot distribution facility in the I-55 Corridor, are joining the ranks of Walmart, Target, Amazon, Home Depot and others that are expanding their industrial space in the Chicago market to keep pace with soaring demand. There are also many small to mid-sized industrial businesses that are increasing their output and expanding their space after seeing slowdowns due to the pandemic. While the industrial sector is navigating some supply chain disruption and fluctuations in construction materials costs, those headwinds are not enough to slow market activity. Given the boost in consumer and business activity from the vaccine rollout and subsequent reduction in the state’s pandemic mitigation measures, demand for industrial space should be strong for the foreseeable future. Avison Young …
DALLAS — A partnership between Velocis and Sumitomo Corp. of America, the New York City-based subsidiary of Tokyo-based Sumitomo Corp., will develop two industrial projects totaling 850,000 square feet in Dallas. The partnership acquired development sites in the South Dallas and Great Southwest submarkets. Construction timelines have not yet been established. Velocis is a private equity real estate fund manager based in Dallas.
BAXTER, TENN. — Avison Young has been chosen by Portobello America to raise around $80 million in construction financing for a manufacturing facility in Baxter. Portobello selected Tim Hall and Jim Hanson of Avison Young to raise the capital, which will fund Phase I of construction. Upon completion, the facility will produce ceramic tiles and will also serve as Portobello’s U.S. headquarters. Portobello Group, a tile manufacturer and distributor headquartered in Brazil, estimates the facility will create about 220 local jobs and generate over $100 million in annual revenue. Investors can partner with Portobello in a sale-leaseback, build-to-suit transaction, resulting in the fee-simple ownership of the facility. Portobello will execute a long-term lease of the facility when construction is complete, which is expected for late 2022. The 92-acre project site is located on the south side of Interstate 40 in Putnam County at 8401 Ditty Road. The site was formerly known as the Tennessee Speedway Dirt Racetrack. Phase I will span 890,000 square feet, including 30,000 square feet of office space, a showroom, research-and-development lab and production lines. Portobello America started operating in the United States in 2018 as part of Portobello Group’s internationalization strategy. The company currently has two …
LOUISVILLE, KY. — Hunt Midwest has completed Blankenbaker Logistics Center, a 322,831-square-foot industrial development in northeast Louisville. The facility is located close to Interstates 64, 265 and 71 and the two Ford plants. Piston Automotive, a Redford, Mich.-based automotive supplier, signed a lease for the entire facility before buildout was complete. The cross-dock warehouse features 36-foot clear heights, 60-foot speed bays, a 140-foot-deep truck court, four drive-in doors, 44 trailer parking spots and 187 parking stalls. This facility is expandable to 88 doors as the need arises. H2B Architects designed Blankenbaker Logistics Center, and Mindel Scott, JSC Engineers and Willett Engineering were the engineers on the project. Kevin Grove of CBRE served as the leasing broker. Hunt Midwest is a Kansas City-based real estate development company with over 50 years of experience in the industrial sector and currently has more than 2.5 million square feet of buildings under development in Kansas City, Kentucky and South Carolina.