Industrial

Brass Cap Development Breaks Ground on 70,000 SF Industrial Project Near Las Vegas

by Amy Works November 18, 2020

HENDERSON, NEV. — Brass Cap Development has broken ground on Executive Airport Crossing, an industrial project located on Raiders Way and Dale Street in West Henderson. Totaling 70,000 square feet, Executive Airport Crossing will consist of two freestanding buildings that can be divisible from 14,446 square feet to 40,000 square feet. Both buildings include dock- and grade-level loading areas. Executive Airport Crossing received more than $5 million in investment funding in eight minutes on CrowdStreet, a real estate investing platform that gives investors direct access to individual commercial real estate investment opportunities. This is the first Brass Cap Development project funded through CrowdStreet. Las Vegas-based LM Construction Co. is serving as design-build general contractor for Executive Airport Crossing, which is slated for completion in June 2021. Paul Sweetland and Jerry Doty of Colliers International | Las Vegas will handle sales for the project.

November 18, 2020

Development Industrial Kentucky Southeast

Georgia-Pacific Opens Expansion of $100M Dixie Manufacturing Facility in Kentucky

by Alex Tostado November 17, 2020

BOWLING GREEN, KY. — Georgia-Pacific, a manufacturer of paper and wood products, has opened a $100 million Dixie manufacturing facility in Bowling Green. Georgia-Pacific began the expansion in 2019. The project included adding an 80,000-square-foot operations building, a new industrial printer and additional plate-forming presses. More than 70 full-time jobs were added due to the expansion, bringing the number of employees at the plant to more than 200. The plant was originally built in 1991. The facility accounts for approximately 25 percent of all paper plates and bowls that Georgia-Pacific produces. The Atlanta-based company also operates a plant in Lexington, Ky.

November 17, 2020

Acquisitions California Industrial Net Lease Office Western

TJL Properties Sells East Bay Area Industrial, Office Facility for $50.1M

by Amy Works November 17, 2020

RICHMOND, CALIF. — TJL Properties has completed the disposition of a light industrial warehouse and office facility located in the East Bay community of Richmond. An institutional investor acquired the asset for $50.1 million. Situated on 12.3 acres at 700-702 National Court, the asset features 267,500 square feet of light industrial and office space. The property comprises a 250,500-square-foot industrial warehouse and a 17,000-square-foot office building. The industrial component features 22-foot clear heights and 15 dock-high, two grade-level and four rail doors. At the time of sale, the facility was triple-net leased to a beverage distribution company. Ryan Sitov, Tony Beatty, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.

November 17, 2020

Development Industrial Texas

Jackson-Shaw Completes 279,632 SF Parc 59 Industrial Project in Metro Houston

by Taylor Williams November 17, 2020

HUMBLE, TEXAS — Developer Jackson-Shaw has completed Parc 59, a 279,632-square-foot industrial project located in the northern Houston suburb of Humble. Designed by Powers Brown Architecture and built by Cadence McShane Construction Co., Parc 59 consists of an 83,436-square-foot building with 28-foot clear heights and a 196,196-square-foot building with 32-foot clear heights. The buildings also feature 130-foot truck courts, ESFR sprinkler systems and a combined 437 car parking spaces. Gulf Atlantic Packaging Corp. (GAPCO) recently signed a lease to occupy 43,539 square feet at the larger of the two buildings.

November 17, 2020

Development Industrial Midwest Ohio

Core5 to Develop 437,000 SF Spec Industrial Building in Columbus, Ohio

by Kristin Harlow November 17, 2020

COLUMBUS, OHIO — Core5 Industrial Partners has received construction financing to move forward with the development of C5 Southgate, a 437,000-square-foot, speculative industrial building in Columbus. The property will be situated on a 30-acre site near I-70. Patterson Real Estate Advisory Group arranged an undisclosed amount of construction financing through ServisFirst Bank in Atlanta. Core5 has developed more than 12 million square feet of industrial space since 2015.

November 17, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 123-Unit Self-Storage Facility in Odessa

by Taylor Williams November 17, 2020

ODESSA, TEXAS — Marcus & Millichap has brokered the sale of Permian Storage, a 123-unit facility located in the West Texas city of Odessa. The self-storage property spans 15,513 square feet of net rentable of non-climate-controlled space, with units ranging in size from 45 to 280 square feet. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.

November 17, 2020

Acquisitions Industrial Midwest Minnesota

KW Commercial Arranges $1.6M Sale of Industrial Building in Burnsville, Minnesota

by Kristin Harlow November 17, 2020

BURNSVILLE, MINN. — KW Commercial has arranged the $1.6 million sale of a 24,000-square-foot industrial building in Burnsville, about 17 miles south of Minneapolis. The property is situated on 1.8 acres along Riverwood Drive. Andy Manthei and Matt Klein of KW Commercial’s Apple Valley office represented the seller, Linvill Riverwood LLC, an affiliate of Minnetonka-based Linvill Properties Inc. Buyer information was undisclosed.

November 17, 2020

Acquisitions Industrial Northeast Pennsylvania

CBRE Negotiates Sale of 283,500 SF SoPhi Logistics Center in Philadelphia

by Taylor Williams November 17, 2020

PHILADELPHIA — CBRE has negotiated the sale of SoPhi Logistics Center, a 283,500-square-foot industrial property located at 2400 Weccacoe Ave. in Philadelphia. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Wharton Industrial Partners, which acquired the asset in 2019 and implemented a capital improvement program. The property was originally built in 1970 and was fully occupied at the time of sale. The buyer was not disclosed.

November 17, 2020

Acquisitions Industrial New Hampshire Northeast

Venture One, Kovitz Acquire 30,300 SF Industrial Building in Carlstadt, New Jersey

by Taylor Williams November 17, 2020

CARLSTADT, N.J. — A partnership between Illinois-based Venture One Real Estate and Kovitz Investment Group has acquired a 30,300-square-foot industrial building located at 178 Commerce Road in the Northern New Jersey city of Carlstadt. The single-tenant building was constructed on 1.4 acres in 1968. Richard Abdy of Emily Abdy Realty Group represented the undisclosed seller in the transaction. The new ownership will implement a value-add program that includes roof replacement, parking lot overlay, office renovation and LED lighting installation.

November 17, 2020

West-Craig-Industrial-Center-North-Las-Vegas-NV

Acquisitions Industrial Nevada Western

Lincoln Property Purchases New Industrial Park Near Las Vegas for $48.6M

by Amy Works November 16, 2020

NORTH LAS VEGAS, NEV. — The Desert West Region of Lincoln Property Co. (LPC Desert West) has increased its Nevada presence with the acquisition of West Craig Industrial Center at 70-78 W. Craig Road in North Las Vegas. A partnership between Huntington Industrial Properties and Polk Street Industrial sold the asset to LPC Desert West for $48.6 million. Delivered in 2019, West Craig Industrial Center features 343,820 square feet of Class A industrial space on 20 acres. The three-building portfolio offers 30- to 32-foot clear heights, 91 dock doors with a combination of drive-in and dock-high configurations, ESFR sprinklers and insulated ceilings. Darla Longo and Barbara Emmons of CBRE’s National Partners Team represented the seller in the deal. LPC Desert West will provide property management services for West Craig Industrial Center. With this acquisition, LPC Desert West now owns nine buildings and almost 800,000 square feet of industrial space in Nevada.

November 16, 2020

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