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Industrial

Last Mile at BWI
AcquisitionsIndustrialMarylandSoutheast

HLNP Sells Industrial Outdoor Storage Site in Hanover, Maryland for $21.1M

by Julia Sanders

HANOVER, MD. — HLNP LLC has sold Last-Mile @ BWI, an industrial outdoor storage site located at 1200 Stoney Run Road in Hanover, for $21.1 million. The industrial-zoned land is 100 percent leased and was sold to NorthBridge Partners. Cris Abramson, Brian Kruger, Ben McCarty and Nicholas Signor of Newmark brokered the sale. Located directly adjacent to Baltimore-Washington International Airport (BWI), Last Mile @ BWI sits on 13.6 acres within Baltimore Commons Industrial Park, a 34-building campus spanning 4.1 million square feet. The site includes about nine acres of paved parking and storage and offers the potential to build Class A industrial product in the Baltimore-Washington Corridor.

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K-30-Logistics-Center-Dallas
DevelopmentIndustrialTexas

CA Industrial to Build 200,000 SF Logistics Facility in Dallas

by Taylor Williams

DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas. The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022. Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.

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IndustrialLeasing ActivityTexas

Gulf Relay Signs 350,150 SF Industrial Lease in South Dallas

by Taylor Williams

DALLAS — Gulf Relay, a third-party logistics company based in Mississippi, has signed a 350,150-square-foot industrial lease at Crossroads Trade Center 1 in South Dallas. The company currently operates out of Coppell, and the new lease raises its total footprint in the metroplex to roughly 460,000 square feet. Ward Richmond and James Ewing of Colliers International represented Gulf Relay in the lease negotiations. Kurt Griffin and Nathan Orbin of Cushman & Wakefield, along with internal agents Jack Stamets and Andy Lowe, represented the landlord, New York-based Clarion Partners.

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AcquisitionsIllinoisIndustrialMidwest

Colliers Brokers Sale of 503,244 SF Distribution Center in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Colliers International has brokered the sale of Butterfield VI Distribution Center, a 503,244-square-foot facility in Aurora, located about 40 miles west of Chicago. Situated on 34.5 acres at 2350 Frieder Lane, the warehouse features a clear height of 36 feet and parking for 125 trailers and 286 cars. Built in 2020, the property is 66 percent leased to LGSTX Distribution Services. It is located within the larger Butterfield Center for Business and Industry. Jeff Devine and Steve Disse of Colliers represented the seller, a partnership between Sterling Bay Industrial, Development Resources Inc. and Levy Family Partners. An institutional investment advisor purchased the asset for an undisclosed price.

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AcquisitionsIndustrialMichiganMidwest

MAG Capital Partners Buys Industrial Facility in Michigan’s Thumb Region in Sale-Leaseback Transaction

by Kristin Harlow

LEXINGTON, MICH. — In a sale-leaseback transaction, MAG Capital Partners LLC has purchased a 196,000-square-foot industrial manufacturing facility in Lexington, part of Michigan’s Thumb region. The purchase price was undisclosed. Situated on 27.5 acres along Lake Huron and located approximately 80 miles northeast of Detroit, the facility provides direct access to Route 25. Built in 1960 and fully renovated in 2017, the property features nine dock doors, 10 drive-in doors and ceiling heights ranging from 18 to 26 feet. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Newmark’s JC Ascensio, Tyrell McGee, Andrew Sandquist and Briggs Goldberg represented the seller, an undisclosed manufacturing company. Based in Fort Worth, Texas, MAG Capital Partners is led by Dax Mitchell and Andrew Gi.

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Crow-Holdings-Carteret-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

Crow Holdings to Develop 1.2 MSF Spec Industrial Project in Carteret, New Jersey

by Taylor Williams

CARTERET, N.J. — Crow Holdings Industrial will develop a 1.2 million-square-foot speculative industrial facility on a 126-acre site in the Northern New Jersey community of Carteret. The development will consist of three buildings ranging in size from 335,000 to 480,000 square feet that will feature 40-foot clear heights, 174 dock doors, 140 trailer parking spaces and six drive-in ramps. Crow Holdings acquired the site from Rahway Arch Properties and plans to begin construction this summer. Cushman & Wakefield has been tapped to lease the project.

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IndustrialLeasing ActivityNortheastPennsylvania

South Atlantic Packaging Signs 133,055 SF Industrial Lease in Reading, Pennsylvania

by Taylor Williams

READING, PA. — North Carolina-based South Atlantic Packaging Corp. has signed a 133,055-square-foot industrial lease at 1091 Arnold Road in the Eastern Pennsylvania city of Reading. CBRE represented the landlord, an affiliate of Link Logistics Real Estate, in the lease negotiations. Del Markward of Markward Group represented the tenant.

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AcquisitionsIllinoisIndustrialLoansNevadaWestern

PGIM Real Estate Provides $41M Acquisition Loan for Three Industrial Buildings Near Las Vegas, Chicago

by Amy Works

HENDERSON, NEV., AND AURORA, ILL. — PGIM Real Estate, on behalf of its U.S. core-plus debt fund, has provided a $41 million loan facility to Dalfen Industrial for the acquisition of a Class A industrial portfolio in the Las Vegas and Chicago metro areas. Totaling 438,000 square feet, the portfolio includes AirParc South and Suncrest Commerce Center in Henderson, plus Butterfield Logistics Center in Aurora. The loan features a three-year term with two one-year extension options. Trevor Arnholt of PGIM Real Estate originated the loan on the firm’s behalf.

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876-Blaine-St-Helena-MT
AcquisitionsIndustrialMontanaWestern

Stan Johnson Negotiates $4.1M Sale of FedEx-Occupied Industrial Building in Helena, Montana

by Amy Works

HELENA, MONT. — Stan Johnson Co. has arranged the sale of an industrial property located at 876 Blaine St. in Helena. A Laguna Beach, Calif.-based private investor sold the asset to a Jacksonville, Ore.-based private investor for $4.1 million. FedEx Ground occupies the 22,251-square-foot building, which was constructed as a build-to-suit for the company in 2014. Additionally, the asset is situated on 6.3 acres adjacent to the Helena Regional Airport and Interstate 15. FedEx has approximately three years remaining on its lease. Colin Couch of Stan Johnson Co.’s Atlanta office represented the seller in the transaction.

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DevelopmentIndustrialLouisianaSoutheast

Lineage Logistics to Build $42M Expansion of Cold Storage Facility at Port of New Orleans

by Julia Sanders

NEW ORLEANS — Lineage Logistics, an industrial REIT specializing in cold storage real estate, will build a $42 million expansion of its Jourdan Road cold storage facility at Port of New Orleans (Port NOLA). The State of Louisiana is providing $10 million in capital outlay funds, while Port NOLA is providing $2 million in funds. Michigan-based Lineage Logistics is investing the remaining $30 million in capital for the cold storage project, and also is expected to utilize Louisiana’s Quality Jobs Program. The cold storage complex is located along the Inner Harbor Navigation Canal. The development plans are for the complex to grow from 160,000 square feet to 304,000 square feet. Lineage Logistics plans to retain 188 existing jobs with the new project, while creating an estimated 50 new direct maritime and warehousing jobs. Louisiana Economic Development estimates the project will result in an additional 56 new indirect jobs, for a total of more than 100 new permanent jobs in the region. In 2020, Lineage Logistics’ facilities in New Orleans partnered with Port NOLA to export 380,000 tons of poultry to global markets. The development expansion will support imports of fresh produce as well. In 2012, Port NOLA and New Orleans …

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