Industrial

Equus Capital Signs Clorox to 580,000 SF Build-to-Suit Warehouse Lease in Martinsburg, West Virginia

by Julia Sanders May 20, 2021

MARTINSBURG, W.VA. — Equus Capital Partners Ltd. has signed a 10-year, build-to-suit lease agreement with subsidiaries of The Clorox Co. for a 580,000-square-foot warehouse space within the Mid-Atlantic 81 Logistics Park in Martinsburg. The new warehouse is expected to come on line in spring 2022. Clorox is currently constructing a manufacturing facility for its Fresh Step cat litter brand approximately one-third of a mile from Mid-Atlantic 81 Logistics Park. Additionally, there are two Kingsford manufacturing plants located in West Virginia. Clorox will store and distribute the products from the new Martinsburg facility. Mid-Atlantic 81 Logistics Park is situated on 150 acres off Tabler Station Road along the Interstate 81 corridor in Berkeley County, approximately 85 miles west of Washington, D.C. The warehouse and distribution building will feature 36-foot clear heights, cross docks, all-concrete truck courts, an ESFR sprinkler system, LED lighting, a 7-inch concrete floor and will be expandable to 868,000 square feet. Brad Metzger and Liz Roberts of Cresa represented Clorox in the lease transaction, and John Lesinski and Ben Luke of Colliers International represented Equus, a Philadelphia-based developer and private equity real estate fund managing firm. In 2018, Equus developed a 356,000-square-foot warehouse for Proctor & Gamble at …

May 20, 2021

Acquisitions Industrial Self-Storage Texas

JLL Negotiates Sale of 645-Unit Self-Storage Facility in Metro Austin

by Taylor Williams May 20, 2021

BEE CAVE, TEXAS — JLL has negotiated the sale of CubeSmart – Bee Cave, a 645-unit self-storage facility located on the western outskirts of Austin. The property opened in September 2019 and consists of 590 climate-controlled units and 55 non-climate-controlled drive-up units. Brian Somoza and Steve Mellon of JLL represented the seller, an affiliate of locally based developer Endeavor Real Estate Group, in the transaction. The buyer, New York City-based investment firm The Pegasus Group, will manage the property under its Central Self Storage flag.

May 20, 2021

Industrial Leasing Activity Texas

Dahill Office Technology Signs 40,000 SF Industrial Lease in Coppell, Texas

by Taylor Williams May 20, 2021

COPPELL, TEXAS — Dahill Office Technology Corp., a San Antonio-based distributor of office machinery, has signed a 40,000-square-foot industrial lease at 820 W. Sandy Lake Road in Coppell. According to LoopNet Inc., the property was built in 2006. Andrew Gilbert and Keaton Brice with Holt Lunsford Commercial represented the landlord, Coppell Trade Center LP, in the lease negotiations. Thomas McGovern of JLL represented the tenant.

May 20, 2021

Development Illinois Industrial Midwest

IDI Logistics Plans to Build 178,000 SF Industrial Facility on Nearly 12-Acre Site in Chicago

by Kristin Harlow May 20, 2021

CHICAGO — IDI Logistics has purchased an 11.7-acre land site located at 3700 S. Morgan St. in Chicago’s Stockyards Industrial Park. The purchase price was undisclosed. IDI plans to build a 178,000-square-foot industrial facility on the site with parking for 212 cars. Completion is slated for the second quarter of 2022. The site provides convenient access to I-55, I-290 and I-90, and is within four miles of the BNSF Intermodal. Matthew Stauber, Evan Djikas, Tom Rodeno and Patrick Turner of Colliers International represented the seller, Joslyn Manufacturing Co., which is a subsidiary of Danaher Corp. IDI has retained Colliers to market the new development for lease.

May 20, 2021

Industrial Market Reports Midwest Midwest Market Reports Nebraska Office Retail

Solid Fundamentals Uphold Lincoln Real Estate Market

by Kristin Harlow May 20, 2021

By Tom Graf, NAI FMA Realty Over the past decade, Lincoln has experienced sustained growth and earned a reputation as a place to be in the Midwest. Its low unemployment, stable economy, low cost of living, prospering tech scene as well as lifestyle and entertainment fitting of a big city with the feel of a small community has insulated Lincoln better than many cities of its size. Perhaps this is most compelling with the number of cranes spotted in the skies back in 2008 and again in 2020. Just as many cities were struggling, Lincoln built its way out of the Great Recession in 2008 and 2020 was no exception. Retail Throughout the economic uncertainty brought on by the COVID-19 pandemic, Lincoln’s retail landscape fared well with vacancy holding at 7.1 percent for the year in 2020. New construction was active throughout the market despite store closures and bankruptcies making the national headlines. For some opportunistic retailers, vacant spaces opened the door to take advantage of the market and negotiate better terms for new locations. Retailers thriving in today’s market are the “daily needs” retailers — grocery, home improvement and discount concepts. Some niche online businesses, which have grown through …

May 20, 2021

Theory-Wellness-Bridgewater-Massachusetts

Features Industrial

Flower Power: Commercial Architecture & Cannabis Facilities

by Taylor Williams May 20, 2021

By Jennifer Luoni, director of operations and architecture, and Lauren Nowicki, chief communications officer, Dacon Corp. From cultivation to curing, manufacturing cannabis is an exacting art that requires a careful, calibrated approach from selection, atmospheric, extraction and curing perspectives. The rapid rise in proposed health benefits from cannabis products has sparked interest in both pharmacological properties and extraction of phytocannabinoids. Former, free-flowing growing methods of the 1960s have been replaced with an exacting discipline amalgamating scientific rigor with natural farming practices and technological innovation. While seemingly antithetical in principle, this shift can result in a profitable, high-growth business model. Science Mimicking Nature Cultivation rooms — whether for leaves or flowers — are designed to mimic seasons via extensive control systems. High-growth rooms, such as those for leaves, create temperature and hydration conditions that simulate the summer climate. This is designed for volume production with leaf propagation stimulated within one month. Set between 70 to 80 degrees Fahrenheit, plants are exposed up to 18 hours of light and watered by pressure compensated drippers so that irrigation systems deliver oxygen directly to roots. For labs dedicated to flower cultivation, environmental conditions mimic autumn, with growth cycles falling between 60 to 70 days …

May 20, 2021

Development Industrial Texas

Creation Equity, Crow Holdings to Develop $60M Industrial Project in Mesquite, Texas

by Taylor Williams May 19, 2021

MESQUITE, TEXAS — The City Council of Mesquite, located east of Dallas, has passed a resolution to approve terms and conditions for the development of a $60 million industrial project that will be known as Mesquite 635. A partnership between Phoenix-based investment and development firm Creation Equity and a fund advised by Crow Holdings Capital is developing the 555,000-square-foot project. Mesquite 635 will be situated about 11 miles east of Dallas at the southeast corner of Interstate 35 and U.S. Highway 80 and will consist of two rear-load buildings and one front-load building. LGE Design Group and its affiliate, LGE Design Build, are respectively serving as the architect and general contractor for the project. Construction is expected to begin in the fourth quarter and to be complete by late 2022/early 2023.

May 19, 2021

California Development Industrial Western

Jupiter Holdings Unveils Plans for 702,147 SF Industrial Center in Menifee, California

by Amy Works May 19, 2021

MENIFEE, CALIF. — Newport Beach, Calif.-based Jupiter Holdings has released plans for Scott Road Commerce Center, an industrial center located at 33380 Zeiders Road in Menifee. Totaling 702,147 square feet on 40.5 acres, Scott Road Commerce Center will include one existing, fully leased industrial building and four to-be-constructed buildings. The first phase of construction includes buildings one and two, with an estimated groundbreaking on building two in August 2021 for completion in mid-2022. The second phase will include buildings three, four and five with a tentative groundbreaking in early 2022 and completion slated for year-end 2022. The completed complex will offer buildings ranging from 73,000 square feet to 230,000 square feet. Tucker Hohenstein, Steve Bellitti and Joey Jones of Colliers International, in partnership with Gordon Mize of Lee & Associates, will handle marketing efforts for the development.

May 19, 2021

California Industrial Leasing Activity Western

IDC Leases 354,810 SF Industrial Facility in Inland Empire

by Amy Works May 19, 2021

PERRIS, CALIF. — IDC has inked a deal to occupy an industrial building located at 251 Rider St. in Perris. WPT Industrial REIT, a Canadian real estate investment trust, is the landlord. The newly constructed, 354,810-square-foot facility features 185 parking stalls, 65 trailer stalls and 47 dock-high loading doors. The property is situated near the 60 and 215 freeways. Mark Zorn and Cory Whitman of Colliers International represented the landlord in the deal.

May 19, 2021

Acquisitions Industrial Self-Storage Texas

Pegasus Group Acquires 575-Unit Self-Storage Facility in South Austin

by Taylor Williams May 19, 2021

AUSTIN, TEXAS — New York City-based investment firm The Pegasus Group has acquired All Stor South Congress, a 575-unit self-storage facility in South Austin. The property opened in July 2018 and consists of 298 climate-controlled and 227 non-climate-controlled drive-up units, in addition to four parking spaces for rent. Brian Somoza and Steve Mellon of JLL represented the seller, an affiliate of locally based development firm Endeavor Real Estate Group, in the transaction. Pegasus Group will manage the property under its Central Self Storage flag.

May 19, 2021

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