Industrial

Dermody Properties Buys 70,209 SF Logistics Facility in East Bay Area

by Amy Works October 29, 2020

FREMONT, CALIF. — Dermody Properties has acquired a logistics property located at 45535 Northport Loop East in Fremont. Terms of the transaction were not released. Originally constructed in 1998 on 4.7 acres, the 70,209-square-foot property features 20-foot clear heights, four dock-high doors and four drive-in doors. At the time of purchase, 49,615 square feet was available in the facility. Dermody plans to invest in significant exterior and interior capital improvements, including a new roof, to the building. Michael Karp and Victor DeBeor of Cushman & Wakefield represented Dermody Properties in the transaction and will be leasing agents for the property.

October 29, 2020

California Industrial Webinar Western

Webinar: Los Angeles Industrial Outlook — How has the Pandemic Changed the Industrial Sector in Southern California?

by Jaime Lackey October 29, 2020

On October 27, Western Real Estate Business magazine hosted a panel of industrial experts to discuss how the pandemic has impacted investment sales, leasing and development within the Los Angeles industrial real estate sector. Click to listen to the recording and hear the 2021 outlook. The webinar included two separate discussions. The developer/owner panel included Joseph Vargas of Wonderful Real Estate Development, Brett Tremaine of Majestic Realty, Damon Austin of Prologis, and Brett Dedeaux of Dedeaux Properties and Morgan Medlin of Allen Matkins. The second panel covered the capital markets/finance and brokerage perspectives and included Jeffrey Cole of Cushman & Wakefield, Bobby Khorshidi of Archway Capital, Steven Lurie of Greenberg Glusker, Peter Bacci of Lee & Associates, Chris Jackson of NAI Capital and Christopher Sheehan of Colliers International. Allen Matkins, Dedeaux Properties, Wonderful Real Estate Development, Greeberg Glusker, Archway Capital and Lee & Associates sponsored the discussion.

October 29, 2020

Development Indiana Industrial Midwest

Mohr Capital Completes Land Assemblage for First Phase of Logistics Park in Whiteland, Indiana

by Kristin Harlow October 29, 2020

WHITELAND, IND. — Mohr Capital, a Dallas-based privately held real estate investment firm, has acquired an additional 184 acres of land in Whiteland in metro Indianapolis. The acquisition represents the completion of the land needed for Phase I of Mohr Logistics Park, a master-planned development. The project will encompass more than 500 acres upon completion. Mohr plans to commence development of an 827,180-square-foot speculative industrial building in the spring. Mark Writt of CBRE assisted Mohr in the land assemblage. Earlier this year, Mohr closed on the purchase of 122 acres that will house a 1 million-square-foot build-to-suit for Cooper Tires, the park’s inaugural tenant. Pepper Construction is underway on that project.

October 29, 2020

Industrial Market Reports Texas Texas Market Reports

Industrial Growth Comes Full Circle in Texas-Arkansas Border Region

by Taylor Williams October 29, 2020

By Eric Voyles, executive vice president, TexAmericas Center Years before smartphones and decades before Zoom, community leaders along the Texas-Arkansas border decided to turn a shuttered military property into a regional economic driver. Now, with the boost of a technological revolution that makes it easier than ever to connect with companies worldwide, that venture is paying major dividends. Located in the Texarkana MSA, TexAmericas Center (TAC) is an industrial park with a unique twist — it’s run by a special purpose district of the State of Texas. That means it operates like a government, controlling its own zoning and permitting processes, but it also functions like a competitive real estate development company. This combination has been particularly attractive to relocating and expanding businesses over the years and continues to drive growth for the greater Texarkana economy. Companies considering relocation or expansion at TAC frequently comment on the variety of infrastructure updates made to the industrial park. They are also quick to appreciate an impressive transportation corridor that uses multiple state highways, interstates, air freight and rail lines to disperse from a central U.S. location. But what new companies don’t always realize just how deep the supply of skilled workers is, and …

October 29, 2020

Development Industrial North Carolina Southeast

Publix to Expand North Carolina Distribution Center by 1.2 MSF to Include Dry Storage Warehouse

by Alex Tostado October 28, 2020

GREENSBORO, N.C. — Publix Super Markets Inc. will expand its Greensboro distribution center by 1.2 million square feet, adding a dry grocery warehouse. The Lakeland, Fla.-based grocer broke ground on Phase I of the facility, which will offer refrigerated warehouse space, in February. Both phases are expected to be complete by the end of 2022. The warehouses will support Publix’s growth in North Carolina and Virginia. Gray is the engineer, general contractor and designer for the facility. This will be Publix’s 10th distribution center, joining facilities in Boynton Beach, Deerfield Beach, Jacksonville, Miami, Lakeland, Sarasota and Orlando, Fla.; Lawrenceville, Ga.; and McCalla, Ala.

October 28, 2020

Acquisitions Industrial North Carolina Southeast

Lightstone Group Acquires Industrial Facility in Charlotte for $34M

by Alex Tostado October 28, 2020

CHARLOTTE, N.C. — Lightstone Group has acquired Clarius Park Charlotte, a 400,000-square-foot industrial facility in Charlotte, for $34 million. The New York City-based buyer has rebranded the property to Lightstone Logistics Center. At the time of sale, the asset was 50 percent leased to Power Distributors LLC, a distributor of outdoor power equipment. The new building features 36-foot clear heights, 70 dock doors and immediate access to Interstates 85 and 485. Lightstone Logistics Center is located at 7800 Tuckaseegee Road, two miles north of Charlotte Douglas International Airport. Chris Loyd and Tom Tropeano of Avison Young represented the seller, Clarius Partners, in the transaction. Peter Rotchford of JLL arranged the acquisition financing on behalf of the buyer. Details of the loan were not disclosed.

October 28, 2020

Acquisitions Industrial Midwest Ohio

Boulder Group Brokers $10.5M Sale of Industrial Building in Mansfield, Ohio

by Kristin Harlow October 28, 2020

MANSFIELD, OHIO — The Boulder Group has brokered the $10.5 million sale of a 314,736-square-foot industrial facility in Mansfield, located midway between Columbus and Cleveland. The building is net leased to School Specialty Inc., a distributor of supplies, furniture, technology products, supplemental learning products and curriculum solutions for education. The facility is located at 100 Paragon Parkway within an industrial park that is home to other tenants such as FedEx, Coca-Cola, Frito-Lay and the Ohio Army and National Guard. The building features 49,500 square feet of office space with expansion capabilities. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the transaction. A private investor sold the asset to a Northeast-based real estate investment trust. School Specialty’s lease expires in October 2025.

October 28, 2020

Development Industrial Midwest Missouri

Opus Breaks Ground on 182,000 SF Spec Industrial Development in Liberty, Missouri

by Kristin Harlow October 28, 2020

LIBERTY, MO. — The Opus Group has broken ground on Heartland Meadows Commerce Center, a 182,000-square-foot industrial development in Liberty, a suburb of Kansas City. It is the first speculative, new-construction project within the larger Heartland Meadows Industrial Park in the past decade, according to Opus. The building will be able to accommodate up to eight tenants and feature 220 car parking stalls, up to 43 dock positions, two drive-in doors, trailer parking and a clear height of 32 feet. Completion is slated for August 2021. Opus is serving as developer, design-builder, architect and engineer. Patrick McGannon and Matthew Severns of Kessinger-Hunter are handling leasing.

October 28, 2020

85-New-Brunswick-Ave.-Woodbridge-New-Jersey

Development Industrial New Jersey Northeast

Woodmont Begins Vertical Construction of 101,425 SF Distribution Center in Woodbridge, New Jersey

by Taylor Williams October 28, 2020

WOODBRIDGE, N.J. — Locally based developer Woodmont Industrial Partners has begun vertical construction of a 101,425-square-foot distribution center at 85 New Brunswick Ave. in the Northern New Jersey city of Woodbridge. The property will offer proximity to State Routes 440 and 9, as well as the New Jersey Turnpike and Garden State Parkway. Building features will include 36-foot clear heights and 12 dock doors with the option to expand to 24. Woodmont acquired the site in July and expects to complete the project in the second quarter of next year. CBRE is handling leasing of the property.

October 28, 2020

Acquisitions Idaho Industrial Western

LDK Ventures Enters Idaho Market with Acquisition of Boise Logistics Center

by Amy Works October 28, 2020

BOISE, IDAHO — California-based LDK Ventures has purchased Boise Logistics Center located at 1001 E. Gowen Road in Boise. Terms of the transaction were not released. The vacant property, which Shopko occupied until 2019, is one of the largest industrial buildings in the Boise metropolitan area and is the only facility to more than 100,000 square feet of available distribution space in the Treasure Valley industrial market, according to LDK. The building features three loading sides, 39-foot to 40-foot clear heights, an ESFR sprinkler system and five acres of excess paved yard that can accommodate modern distribution requirements, including employee, van and trailer parking. LDK plans to reposition the property as a Class A distribution center. The site also includes 16 acres of undeveloped land that can accommodate an additional 250,000 square feet of industrial space. The buyer plans to proceed with entitling the parcel for an industrial development with a planned construction start in 2021. Devin Ogden and Michael McKnight of Colliers International represented the buyer, while Gavin Phillips of TOK Commercial represented the seller in the deal.

October 28, 2020

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