Industrial

Cushman & Wakefield Brokers $18.5M Sale of Four-Building Flex Property in Charlotte

by Alex Tostado January 12, 2021

CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $18.5 million sale of Northridge Business Center, a four-building office and warehouse property in Charlotte. The buildings total 174,506 square feet and are situated at 5005-5035 W. W.T. Harris Blvd. in Charlotte’s West Sugar Creek neighborhood. Northridge Business Center was 92 percent leased at the time of sale. Nolan Ashton and Rob Cochran of Cushman & Wakefield represented the seller, SkyREM, in the transaction. SunCap Opportunity Fund LLC, a privately held, national commercial real estate investment firm, acquired the property.

January 12, 2021

Development Industrial Michigan Midwest

Amazon to Open Six New Fulfillment, Sortation Centers in Metro Detroit This Year

by Kristin Harlow January 12, 2021

DETROIT — Amazon has unveiled plans to open six new fulfillment and sortation centers in metro Detroit this year in order to support operations closer to customers. The sites are expected to create more than 2,000 full- and part-time jobs. In addition to a robotics fulfillment center in Detroit, Amazon will build centers in Hazel Park, Pinnacle Park (2), Plymouth and Pontiac. The new Detroit property will span 823,000 square feet and is expected to create 1,200 new full-time jobs upon its opening. Amazon currently operates 10 facilities in Detroit that support customer fulfillment and delivery operations, including four properties that opened in 2020. Since 2010, Amazon has created more than 13,500 jobs in Michigan and invested more than $2.5 billion across the state, including infrastructure and compensation to its employees.

January 12, 2021

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Brokers $6.9M Sale of Industrial Property in Elk Grove Village, Illinois

by Kristin Harlow January 12, 2021

ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the $6.9 million sale of a 95,000-square-foot industrial property in Elk Grove Village near Chicago’s O’Hare International Airport. The facility is located at 855 Morse Ave. Peter Doughty of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Doughty also procured the buyer, Texas-based AIC Ventures.

January 12, 2021

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 335-Unit Self-Storage Facility in Rosenberg, Texas

by Taylor Williams January 12, 2021

ROSENBERG, TEXAS — Bellomy & Co. has arranged the sale of Texas Storage, a 335-unit self-storage facility in Rosenberg, a southwestern suburb of Houston. The property spans 44,718 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, locally based firm Diehl Investments II LP, in the transaction. The duo also procured the buyer, Delaware-based BCORE Storage Jennetta LP.

January 12, 2021

Industrial Leasing Activity Texas

ProPak Logistics Signs 103,085 SF Industrial Lease in South Dallas

by Taylor Williams January 12, 2021

DALLAS — ProPak Logistics has signed a 103,085-square-foot industrial lease at 8801 Autobahn Drive in South Dallas. According to LoopNet Inc., the property was built in 1997 and totals 270,490 square feet. Canon Shoults and John Gorman of Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Michael Meaden of CBRE represented the tenant.

January 12, 2021

Development Industrial Northeast Pennsylvania

Core5 Industrial Partners Begins Work on 591,360 SF Spec Project in Souderton, Pennsylvania

by Taylor Williams January 12, 2021

SOUDERTON, PA. — Atlanta-based Core5 Industrial Partners has begun construction on Core5 Logistics Center at Park 31, a 591,360-square-foot speculative industrial project that will be situated on 74.4 acres in Souderton, about 35 miles north of Philadelphia. The first phase of the development will consist of two buildings totaling approximately 400,000 square feet that are expected to be complete in the third quarter. Michael Golarz and Tom Golarz of Colliers International are handling leasing of the project.

January 12, 2021

Acquisitions California Industrial Office Western

Faris Lee Brokers $4.7M Acquisition of Value-Add Office/Industrial Property in Orange County

by Amy Works January 12, 2021

MISSION VIEJO, CALIF. — Faris Lee Investments has arranged the purchase of a vacant flex office/industrial building located at 23311 Madero in Mission Viejo. A Beverly Hills-based company acquired the property for $4.7 million in an all-cash transaction. The buyer plans to redevelop the site and market it for a long-term user. Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the buyer in the transaction.

January 12, 2021

Development Industrial Kentucky Southeast

Ball to Develop $305M Aluminum Manufacturing Facility in Bowling Green, Kentucky

by Alex Tostado January 11, 2021

BOWLING GREEN, KY. — Ball Corp. plans to open a new 500,000-square-foot building in Bowling Green that will serve as a manufacturing facility for aluminum can tops. According to the Kentucky Economic Development Finance Authority, Ball will invest $305 million to develop the facility. The Westminster, Colo.-based company expects to create 200 jobs at the property, which is scheduled to open in early 2022. The project’s construction is also expected to support 391 jobs. The facility will be situated within Transpark, a 300-acre industrial development owned by the City of Bowling Green and Warren County. Ball will be the first tenant at the site. Transpark has CSX Railroad service through the southern end of the property and is located five miles from Interstate 65. A design team for the project was not disclosed. Ball supplies aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government.

January 11, 2021

Acquisitions Industrial Midwest Ohio

Industrial Realty Group Acquires Former Printing Facility in Columbus for $11.5M

by Kristin Harlow January 11, 2021

COLUMBUS, OHIO — Industrial Realty Group has acquired the former Columbus Dispatch printing facility in Columbus for $11.5 million. The 450,000-square-foot property is located at 5300 Crosswind Drive and sits on roughly 65 acres within the Southwest Airport Industrial Park. It has been vacant since spring 2020. Aiden Cleghorn of BellCornerstone and Curt Berlin of NAI Ohio Equities represented the seller, Gannett Co. Inc.

January 11, 2021

Acquisitions California Industrial Western

SBC Investors Sells 8.2-Acre Industrial Site in South San Francisco to Prologis

by Amy Works January 11, 2021

SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.

January 11, 2021

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