Industrial

Kansas City Is Key Location for Warehousing, Distribution

by Kristin Harlow October 22, 2020

By Ora Reynolds and Mike Bell, Hunt Midwest Kansas City industrial real estate is trending upward with no shortage of leasing activity. The city’s location in the heart of America, with 30 percent more interstate miles per capita running through it than any other city, offers efficiency and redundancy for global e-commerce and distribution operations. With over 270 million square feet of existing industrial space in both surface and underground business parks, ample land for new buildings, a skilled logistics workforce and robust power and fiber infrastructure, Kansas City is one of the preferred geographic locations for distribution centers and is poised for continued growth based on these strong fundamentals. The nation’s transition to online purchasing at an unprecedented pace has created ripples of change. The increase in e-commerce is driving demand for more distribution space at a rate of 1.25 million square feet for each $1 billion increase in online sales, and this demand puts an increasing pressure on the supply chain for resiliency. Americans are purchasing everything online, from food and essential supplies to clothing and gifts. In the second quarter of 2020, Americans increased their online purchasing by $211.5 billion, according to the U.S. Department of Commerce. …

October 22, 2020

Industrial Nevada Webinar Western Western Feature Archive

Webinar: Las Vegas Industrial Outlook — How has the Pandemic Changed the Industrial Sector in Nevada?

by Sarah Daniels October 21, 2020

The webinar Las Vegas Industrial Outlook — How has the Pandemic Changed the Industrial Sector in Nevada? hosted by Shopping Center Business and Western Real Estate Business, covers how industrial experts are approaching investment sales, leasing and development within the Las Vegas industrial sector in the wake of COVID-19. With shutdowns, social distancing, and the explosion of e-commerce, industrial has become essential. Shopping patterns have changed, affecting manufacturing as well as warehousing and logistics. How has the coronavirus pandemic impacted industrial activity within the Las Vegas market? What do industrial leaders expect to see in the rest of 2020 and into 2021? See a list of some topics covered below: How has the pandemic impacted industrial activity? How are rents and sales prices trending within the market? Will industrial development slow in southern Nevada or remain steady? What types of tenants are looking for space? What features are they looking for? What are the hot submarkets? What trends in industrial development are you seeing in the Las Vegas market? Panelists: David E. Waters, Lathrop GPM LLP (moderator) Erin Johnston, Copaken Brooks Andy Crimmins, Crossroads Retail Group Tyler Enders, Made in KC Dan Lowe, Legacy Development David Block, Block & Company Webinar sponsors: …

October 21, 2020

Acquisitions California Industrial Office Western

Overton Moore Properties Acquires Concourse Tech Park in San Jose for $13.5M

by Amy Works October 21, 2020

SAN JOSE, CALIF. — Overton Moore Properties has purchased Concourse Tech Park, an office, research and development building in San Jose. A private family sold the asset for $13.5 million. Located at 1953-1965 Concourse Drive, the 110,148-square-foot property features two loading docks, eight at-grade roll-up doors, substantial power, ample parking and significant clear heights. At the time of sale, the building was 10 percent leased. Steven Golubchik, Seth McKinnon, Darren Hollak and Jack Phipps of Newmark represented the buyer and the seller in the transaction.

October 21, 2020

Development Industrial Michigan Midwest Top Stories

Detroit City Council Approves Sale of Former State Fairgrounds, Amazon to Open 3.8 MSF Facility at Site

by Kristin Harlow October 21, 2020

DETROIT — The Detroit City Council has approved the sale of the former Michigan State Fairgrounds, providing the green light for a $400 million redevelopment of the site. Detroit-based Sterling Group and Dallas-based Hillwood Investment Properties have agreed to pay $9 million for the land, with plans to build a 3.8 million-square-foot distribution center for Amazon at the property. The e-commerce giant will occupy half of the 142-acre site, located at the corner of Woodward Avenue and 8 Mile Road. Its facility is projected to bring more than 1,200 new full-time jobs to the area. The remaining acreage will be dedicated to auto part suppliers or other employers, according to the developers. The Michigan State Fair took place annually in Detroit from 1849 to 2009 when the publicly funded event was removed from the budget. In 2011, the fair went private and moved to nearby Novi. The redevelopment plans call for the demolition of several buildings at the old fairgrounds, including the 5,600-seat arena built in 1922, according to local news outlets. The project also includes the development of a new indoor transit center to replace the current one on Woodward Avenue near the fairgrounds. As part of the agreement, …

October 21, 2020

Acquisitions Florida Industrial Self-Storage Southeast

Cushman & Wakefield Arranges $14M Sale of Self-Storage Facility in Palm City, Florida

by Alex Tostado October 20, 2020

PALM CITY, FLA. — Cushman & Wakefield has arranged the $14 million sale of Safe & Sound Palm City, an 868-unit self-storage facility in Palm City. The property comprises 78,521 square feet of rentable space on 3.1 acres. The facility includes 216 non-climate-controlled units and 652 climate-controlled units, as well as video surveillance, electronic gates and access to a freight elevator. The asset is situated at 3501 SW Martin Downs Blvd., 11 miles south of downtown Port St. Lucie. Mike Mele and Luke Elliott of Cushman & Wakefield represented the seller, Safe & Sound, in the transaction. A joint venture between two private limited liability companies acquired the property and rebranded it under the CubeSmart brand.

October 20, 2020

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 8,600 SF Industrial Lease in Northwest Houston

by Taylor Williams October 20, 2020

HOUSTON — NAI Partners has negotiated an 8,600-square-foot industrial lease at 4500 N. Sam Houston Parkway W. in northwest Houston. According to LoopNet Inc., the property was built in 2008 and spans, 44,500 square feet. Jorge Martinez and Clare Flesher of NAI Partners represented the tenant, Healthline Medical Equipment, in the lease negotiations. The name and representative of the landlord were not disclosed.

October 20, 2020

Acquisitions Industrial Nevada Western

Colliers Arranges $6.1M Acquisition of Industrial Property in North Las Vegas

by Amy Works October 20, 2020

NORTH LAS VEGAS, NEV. — Colliers International | Las Vegas has arranged the purchase of an industrial and retail facility located at 1011 E. Alexander Road in North Las Vegas. Michael F. Colvin acquired the 45,659-square-foot asset from an undisclosed seller for $6.1 million. Dean Willmore, Lauren Willmore, Mike Willmore and Stacy Shapiro of Colliers represented the buyer in the deal.

October 20, 2020

Industrial Leasing Activity Oregon Western

Hawthorne Hydroponics Leases 378,000 SF Industrial Facility at Blue Lake Corporate Park in Gresham, Oregon

by Amy Works October 20, 2020

GRESHAM, ORE. — Hawthorne Hydroponics has signed a long-term lease to occupy a newly constructed 378,000-square-foot industrial building at Blue Lake Corporate Park in Gresham. A supplier of horticulture, organics, hydroponics and lighting supplies, the tenant is expanding its operations within the region and will retain a presence in Vancouver, Washington. The building is part of Airport Way’s newest industrial development, which consists of two buildings totaling 463,500 square feet on a 41-acre site. Built on a speculative basis, the project was substantially completed in May. Hawthorne Hydroponics leased all of Building B and will serve as the project’s anchor tenant. Brad Carnese, Aaron Watt and Keegan Clay of Cushman & Wakefield’s Portland office represented the owner, while Stuart Skaug of CBRE Portland represented the tenant in the lease negotiations.

October 20, 2020

Development Industrial Kansas Midwest

Amazon to Open Two New Fulfillment Centers in Kansas

by Kristin Harlow October 20, 2020

KANSAS CITY AND PARK CITY, KAN. — Amazon.com Inc. has unveiled plans to open two new fulfillment centers in the state of Kansas. The centers, which are expected to open in 2021, will together create more than 1,000 new, full-time jobs. Each facility will span roughly 1 million square feet. One will be located at 9700 Leavenworth Road in Kansas City while the other will be located at 7130 N. Broadway Ave. in Park City. Amazon associates will pick, pack and ship bulky or large items such as patio furniture, outdoor equipment and rugs. Amazon also says it plans to open a new delivery station in Wichita. Since 2010, Amazon has created more than 4,500 jobs in Kansas and invested nearly $3 billion across the state.

October 20, 2020

Acquisitions Illinois Industrial Midwest

Venture One Acquires 30,356 SF Industrial Building in Suburban Chicago

by Kristin Harlow October 20, 2020

VERNON HILLS, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 30,356-square-foot industrial building in Vernon Hills, a northern suburb of Chicago. The purchase price was undisclosed. The transaction was structured as a sale-leaseback with H&H Graphics. Located at 450 Corporate Drive and constructed in 1991, the building features two docks, one drive-in door and parking for 40 cars. Brian Bocci of Entre Commercial Realty represented Venture One. VK Industrial V is a partnership between Venture One and Kovitz Investment Group.

October 20, 2020

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