Industrial

Dunavant Distribution Signs 784,000 SF Industrial Lease in Metro Houston

by Taylor Williams December 4, 2020

PASADENA, TEXAS — Third-party logistics firm Dunavant Distribution Group has signed a 784,000-square-foot industrial lease at Bay Area Business Park in the eastern Houston metro of Pasadena. John Nicholson of Colliers represented the tenant in the lease negotiations. Justin Robinson and Jeff Pate of Stream Realty Partners represented the landlord, PEPF Red Bluff. The three-building property is located near Port Houston and recently underwent an expansion to become the largest single-owner industrial business park in Houston, according to the brokerage team.

December 4, 2020

Acquisitions Indiana Industrial Midwest Missouri

Stan Johnson Co. Brokers Sale of 1.9 MSF Industrial Portfolio Across Four States

by Kristin Harlow December 4, 2020

INDIANA, MISSOURI, OKLAHOMA AND GEORGIA — Stan Johnson Co. has brokered the sale of a four-property industrial portfolio totaling approximately 1.9 million square feet across four markets. The sales price was undisclosed. The properties are leased to a mix of public and private tenants. The buildings include: 2001 Commerce Parkway in Franklin, Ind.; 65 Corporate Woods Drive in Bridgeton, Mo.; 524 N. Sara Road in Yukon, Okla.; and 6878 Kelly Ave. in Morrow, Ga. Mollie Alteri, Joey Odom, Mike Sladich, Maggie Holmes and Michael Watson of Stan Johnson represented the seller, an institutional advisor based in New York. The buyer was a Dallas-based institutional investor.

December 4, 2020

Industrial Midwest Missouri

Clayco Launches Design, Engineering Subsidiary for Industrial Projects

by Kristin Harlow December 4, 2020

ST. LOUIS — Contractor Clayco has launched a new subsidiary known as Clayco Design & Engineering. The addition will enhance the company’s design-build service offering and diversify its capabilities for building manufacturing, process and food and beverage plants. Based in St. Louis, Clayco Design & Engineering is led by David Mills, a former partner at The Design Group. Mills is responsible for strategy and innovation, new business development and recruiting top talent. Joe Crawford, formerly with the process technologies division of AECOM, will serve as director of operations.

December 4, 2020

Acquisitions Industrial Massachusetts Northeast

Griffith Properties Acquires Industrial Complex in Boston for $76M

by Taylor Williams December 4, 2020

BOSTON — Locally based investment firm Griffith Properties has acquired Boston Dedham Commerce Park, a 632,188-square-foot industrial complex in Boston, for $76 million. The five-building property is situated on 22 acres inside Route 128 adjacent to the Readville commuter rail stop. Griffith Properties, which will enter into a joint venture with affiliates of Dune Real Estate Partners LLC to operate the complex, acquired the asset from First Highland in an off-market deal. Robert Griffin, J.R. McDonald, Mike Frisoli, Tyler McGrail and Caroline Collett of Newmark represented both parties in the transaction and will market the available space for lease.

December 4, 2020

103-Central-Avenue-Mount-Laurel-New-Jersey

Industrial Leasing Activity NAI New Jersey Northeast

NAI Mertz Brokers Sale of 112,000 SF Industrial Building in Mount Laurel, New Jersey

by Taylor Williams December 4, 2020

MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 112,000-square-foot industrial building located at 103 Central Ave. in Mount Laurel, a suburb of Philadelphia. The property features 17-foot clear heights and proximity to State Routes 38 and 73, as well as the New Jersey Turnpike. Scott Mertz and Jonathan Klear of NAI Mertz represented the seller, CoreOne Industrial LLC, in the transaction. The duo also procured the buyer, Boston-based Stag Industrial Holdings LLC.

December 4, 2020

Development Industrial Nevada Western

Brass Cap Development Nears Completion of $5M Warehouse Complex in Las Vegas

by Amy Works December 4, 2020

LAS VEGAS — Brass Cap Development is nearing completion on Brass Diablo, a $5 million industrial complex in Las Vegas. LM Construction as design-build contractor utilized the Tilt Insulating Panel System, which enables crews to lift warehouse walls in one day during the building’s construction. Located at the southwest corner of Diablo Drive and Edmond Street, the facility features 25,000 square feet of industrial space, with 10,000 square feet remaining for lease. Bleu Blanc Rouge, a Las Vegas-based caterer, has leased 15,000 square feet of space at the property. Paul Sweetland, Dan Doherty, Chris Lane and Jerry Doty of Colliers International are handling leasing for the remaining available space.

December 4, 2020

Industrial Top Stories

COVID-19 Holiday Season Brings Increase in Online Shopping, Big-Ticket Industrial Acquisitions

by Katie Sloan December 4, 2020

As with many other events and rites of passage, the COVID-19 pandemic has transformed the holiday season. With concerns over the safety of in-person gathering top of mind, many have moved their normal brick-and-mortar holiday gift shopping online. Even Black Friday — a hallmark shopping event of the holiday season geared toward big sales for those willing to venture among heavy crowds — moved online this year in order to better suit the needs and safety of shoppers in the current environment. With an increase in online shopping comes an increase in need for logistics and industrial space in order to fulfill orders in a timely fashion. Against the backdrop of a predominantly online holiday shopping season, a flurry of big-ticket industrial acquisitions have filled news headlines during the first week of December. Today, news broke that Rexford Industrial Realty has acquired Van Nuys Airport Industrial Center in California, an 18-building portfolio of industrial properties within the Los Angeles submarket, for $154.6 million. Additionally, KKR acquired two industrial distribution properties in Texas totaling approximately 1.8 million square feet for $171 million. “As more consumers migrate to shopping online and expect a seamless delivery experience, the demand for modern logistics real …

December 4, 2020

Development Industrial North Carolina Southeast

Chick-fil-A to Develop $52M Distribution Center in Raleigh-Durham Area

by Alex Tostado December 3, 2020

MEBANE, N.C. — Chick-fil-A will develop a $52 million distribution center in the Durham suburb of Mebane. The property is expected to open in early 2022 and house 160 employees. The facility will be situated about 25 miles west of downtown Durham near Interstate 85. In 2019, the Atlanta-based restaurant chain launched its distribution company, Chick-fil-A Supply LLC, to serve its restaurants. This will be Chick-fil-A’s second distribution center, joining the location in Cartersville, Ga. Chick-fil-A operates 2,600 restaurants in 47 states, Washington, D.C. and Canada.

December 3, 2020

Industrial Leasing Activity New Jersey Northeast

Colliers Negotiates 140,800 SF Industrial Sublease in Pennsauken, New Jersey

by Taylor Williams December 3, 2020

PENNSAUKEN, N.J. — Colliers International has negotiated a 140,800-square-foot industrial sublease at 500 Griffith Morgan Lane in Pennsauken, located outside Philadelphia in Southern New Jersey. Food subscription service Misfits Market, which recently relocated to a new build-to-suit facility in Delanco, New Jersey, is subleasing the space to California-based Maxon Auto Corp. The space features a clear height of 24 feet, 29 loading doors and three drive-in doors. Ian Richman and Marc Isdaner of Colliers represented Misfits Market in the transaction.

December 3, 2020

Industrial Leasing Activity NAI New Jersey Northeast

NAI James Hanson Arranges 110,000 SF Industrial Lease in North Bergen, New Jersey

by Taylor Williams December 3, 2020

NORTH BERGEN, N.J. — NAI James Hanson has secured a 110,000-square-foot industrial lease at 7300 West Side Ave. in North Bergen, located across the Hudson River from Upper Manhattan. The property currently spans 130,000 square feet, but the landlord plans to remove 20,000 square feet of mezzanine-level office space in order to create more 24-foot clear heights throughout the building. Scott Perkins, Tom Vetter, Jeff DeMagistris and Chris Todd of NAI James Hanson represented the landlord, Link Logistics Real Estate, in the lease negotiations. Wenying “Linda” Tan of Oxford Property Group USA represented the tenant, shipping company High May Inc.

December 3, 2020

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