Industrial

Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora

by Amy Works November 25, 2020

AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land. Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February. Additionally, next month, the development team will add 129 acres to the project and break ground on the park’s first structure — Build 1, a 541,840-square-foot, Class A speculative building. Slated for completion in third-quarter 2021, Building 1 will features 36-foot clear heights, 50-foot by 54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 parking spaces. With the recent and upcoming additions, HighPoint Park will eventually span 400 acres and offer up to 15 buildings totaling more than 5 million square feet at full build-out. While the full-site plan for HighPoint is still flexible, the initial plans include retail development through the middle of the park, along East 64th Avenue, providing walkable retail options for tenants and visitors. The development will also feature outdoor seating areas …

November 25, 2020

Acquisitions Colorado Industrial Western

Inland Real Estate Buys 151,668 SF Last-Mile Logistics Building in Metro Denver for $57M

by Amy Works November 25, 2020

THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million. Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single tenant as an e-commerce distribution facility. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Joe Krahn and Harper Davis, also of Cushman & Wakefield, provided leasing services for the property.

November 25, 2020

Acquisitions Industrial Washington Western

CenterPoint Properties Acquires 57,107 SF Distribution Facility Near Seattle

by Amy Works November 25, 2020

TUKWILA, WASH. — CenterPoint Properties has purchased an industrial facility located at 365-369 Upland Drive in Tukwila. Terms of the off-market sale-leaseback transaction were not released. Situated on 2.4 acres, the 57,107-square-foot distribution facility features secure parking, a 100-foot truck court, an 11,509-square-foot office space, 24-foot clear heights, six dock-high doors and two drive-in doors. Chris Corr of Kidder Mathews brokered the transaction. The seller was not disclosed.

November 25, 2020

Acquisitions California Industrial Western

GJK Properties Divests of Fully Occupied Industrial Facility in Bay Area for $23M

by Amy Works November 24, 2020

UNION CITY, CALIF. — GJK Properties has completed the sale of an industrial building located at 33401 Central Ave. in Union City. Elion Partners acquired the asset for $23 million. Constructed in 1979 and renovated in 2009, the 94,976-square-foot property features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish. At the time of sale, the property was fully leased. Jason Ovadia and Eddie Shuai of JLL Agency Leasing structured a lease for a new entity to fully occupy the property. Ryan Sitov, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.

November 24, 2020

Alabama Development Industrial Southeast

EGS to Develop 67,174 SF Industrial Facility in Birmingham for Ferguson Enterprises

by Alex Tostado November 24, 2020

BIRMINGHAM, ALA. — EGS Commercial Real Estate Inc. will develop a 67,174-square-foot build-to-suit industrial facility in Birmingham. Ferguson Enterprises LLC, a distributor of commercial and residential plumbing supplies, will occupy the property upon completion. The developer expects to commence construction in December and plans to deliver the asset 12 months later. The project includes approximately 15,000 square feet for offices and customer pickup, as well as nearly 2.5 acres of paved outside storage. The new building will be situated on First Avenue North within Avondale Commerce Park, a 10-building, 381,325-square-foot industrial park. INCO Group is the general contractor, Birmingham-based Caprine Engineering is providing engineering services and Atlanta-based Appleby + Laccetti Architects is the designer. ServisFirst Bank is providing construction financing. Cushman & Wakefield represented the landlord in the lease negotiations, and CBRE represented the tenant.

November 24, 2020

Acquisitions Industrial Texas

Phoenix Investors Acquires 1 MSF Former Titan Tire Plant in Brownsville, Texas

by Taylor Williams November 24, 2020

BROWNSVILLE, TEXAS — An affiliate of Milwaukee-based Phoenix Investors has acquired the 1 million-square-foot former tire plant of Titan International Inc. in Brownsville. The property spans 108 acres and was originally built in 1997. Titan, which manufactures road tires and wheel technology for a variety of industries, ceased production at the site in 2003 and converted the facility into a multi-tenant property. Michael Reid of Newmark represented Titan in the sale of the plant. The sale included land for future industrial development.

November 24, 2020

Development Industrial Northeast Pennsylvania

RIDC Completes Phase II of $100M Redevelopment of Steel Mill in Pittsburgh

by Taylor Williams November 24, 2020

PITTSBURGH — Regional Industrial Development Corp. (RIDC) has completed the second phase of the redevelopment of Mill 19, a former steel mill in Pittsburgh, a project valued at more than $100 million. The new buildings feature light industrial, lab, office and workshop space and are located near Uber’s autonomous vehicle test track. Tenants at the redeveloped property include global tech firm Motional, the Advanced Robotics for Manufacturing Institute, Carnegie Mellon University’s Manufacturing Futures Initiative and Catalyst Connection. Construction originally began in 2017. The mill was redeveloped to be eco-friendly and sustainable and includes 110,000 square feet of rooftop solar panels and will produce over 2 million kilowatt hours of energy per year.

November 24, 2020

Industrial Market Reports Texas Texas Market Reports

Spec Industrial Development Accelerates Throughout Texas

by Taylor Williams November 24, 2020

Industrial developers throughout the major markets of Texas are hustling to acquire and entitle land, arrange construction financing and break ground on projects to meet ever-growing requests for an increasingly diverse group of users. Accelerated demand for e-commerce and logistics services and sustained population growth ensure that new, well-located industrial spaces will be absorbed as soon as they come on line — if not before then. Developers are increasing the proportion of spec projects within their portfolios in response to this. A recent example of such a project is the 1.3 million-square-foot Fort Worth Logistics Hub, a spec project by locally based developer VanTrust Real Estate that is designed to meet rising demand from logistics users. The developer broke ground on Phase I of the project, which is located in South Fort Worth, in late October and expects to deliver a 670,941-square-foot building in July 2021. “Right now, nearly all of our projects across 10 major markets, including Dallas-Fort Worth (DFW) are being developed on speculative basis,” says Rob Huthnance, partner at California-based investment and development firm CT Realty. “As long as the level of tenant demand remains at or near where it is now, there will continue to be …

November 24, 2020

Development Florida Industrial Southeast

Miller Construction Breaks Ground on 312,592 SF Industrial Park in Metro Miami

by Alex Tostado November 23, 2020

HIALEAH GARDENS, FLA. — Miller Construction has broken ground on Midpoint Miami Logistics Park, a 312,592-square-foot industrial property in Hialeah Gardens. The 18-acre site will include the 147,974-square-foot Building 1 and the 164,618-square-foot Building 2. Miller expects to immediately break ground on Building 1 and then plans to start Building 2 four weeks later. The Fort Lauderdale, Fla.-based general contractor expects to complete the park in summer 2021. The assets will feature 32-foot clear heights, a shared 180-foot truck court and a total of 124 dock doors. Foundry Commercial is the developer and owner of Midpoint Miami Logistics Park. RLC Architects is the designer, and Avison Young is handling leasing efforts. The engineering team includes Miami-based firms Puga & Associates International, DDA Engineers and Langan Engineering.

November 23, 2020

Development Illinois Industrial Midwest

Ryan Cos. Completes Development of Pullman Crossings Industrial Project in Chicago

by Kristin Harlow November 23, 2020

CHICAGO — Ryan Cos. has completed the development of Pullman Crossings, a 62-acre industrial project within the larger Pullman Park in Chicago’s Pullman neighborhood. Ryan served as master developer in collaboration with Chicago Neighborhood Initiatives. With the recent completion of a 145,000-square-foot, build-to-suit distribution center for Amazon, Ryan has developed three industrial facilities totaling 685,000 square feet at Pullman Crossings since 2017. Located at the intersection of I-94 and 103rd Street, Pullman Crossings is part of an area that was originally home to factories that served as manufacturing sites for Pullman rail cars beginning in the late 1800s. Current tenants besides Amazon include Whole Foods Market and SC Johnson.

November 23, 2020

Newer Posts

Older Posts