Industrial

CIP Real Estate Acquires Industrial Property in South Charlotte for $28M

by Alex Tostado September 3, 2020

CHARLOTTE, N.C. — CIP Real Estate has acquired Whitehall Tech Center in Charlotte for $28 million. The property comprises two buildings totaling 205,000 square feet. The acquisition also includes a 7.5-acre parcel for the development of up to 75,000 square feet of warehouse space. At the time of sale, one of the two buildings was fully leased to an undisclosed tenant while the other building was nearly vacant. CIP plans to implement a $3.2 million renovation of the nearly vacant building from a call center to a multi-tenant industrial space. Further details and the timeline of the renovation were not disclosed. Whitehall Tech Center is located within the Whitehall master-planned community, nine miles south of downtown Charlotte and Charlotte Douglas International Airport. CIP acquired the property from a joint venture between CrossHarbor Capital Partners and a separate CIP Real Estate entity.

September 3, 2020

Industrial Leasing Activity Texas

Swiss American CDMO Signs 131,670 SF Industrial Lease in Carrollton, Texas

by Taylor Williams September 3, 2020

CARROLLTON, TEXAS — Swiss American Contract Development & Manufacturing Organization (CDMO), a locally based provider of first aid products, has signed an industrial lease in the northern Dallas suburb of Carrollton. The firm is effectively doubling its footprint in North Texas by occupying 131,670 square feet of warehouse and distribution space located at 1540 Luna Road, within a half-mile from its headquarters.

September 3, 2020

Acquisitions Industrial Texas

Blue Road Investments Acquires 51,160 SF Warehouse in El Paso

by Taylor Williams September 3, 2020

EL PASO, TEXAS — Dallas-based Blue Road Investments LLC has acquired a 51,160-square-foot warehouse and distribution building located at 9555 Plaza Circle in El Paso. The property was fully leased at the time of sale to three tenants in the logistics and transportation industry. Will Brown of locally based brokerage firm Sonny Brown & Associates brokered the deal.

September 3, 2020

Industrial Leasing Activity NAI Northeast Pennsylvania

NAI Summit Negotiates 8,400 SF Industrial Flex Lease in Allentown

by Taylor Williams September 3, 2020

ALLENTOWN, PA. — NAI Summit has negotiated an 8,400-square-foot, long-term industrial lease at 1032-1036 N. Irving St. in Allentown. The property recently received more than $100,000 in capital improvements and now houses an office and a showroom in addition to warehouse space. Jay Haines of NAI Summit represented the tenant, JJC Flooring LLC, and the undisclosed landlord in the lease negotiations.

September 3, 2020

Acquisitions Industrial Utah Western

LPC Enters Utah Market with Purchase of 212,950 SF Access Park Industrial Portfolio

by Amy Works September 3, 2020

KAYSVILLE, UTAH — Lincoln Property Co. (LPC) has acquired Access Park, an industrial campus in Kaysville and the company’s first acquisition in Utah. Access Park LLC sold the property for an undisclosed price. Located at 505 N. Kays Drive within Kaysville Business Park, Access Park features a total of 212,950 square feet of Class A industrial space spread across three fully occupied buildings. The park includes two newly built, 69,101-square-foot distribution buildings and one 74,784-square-foot industrial and manufacturing building. The facilities offer clear heights ranging from 22 feet to 32 feet and a total of 74 dock-high and ground-level doors. LPC Desert West will manage Access Park as part of its more than 7 million-square-foot regional management portfolio. Kip Paul, Rhett Bue and Jorgi Paul of Cushman & Wakefield represented the seller in the transaction.

September 3, 2020

Acquisitions California Industrial Western

Sustainable Bag Producer Buys 47,744 SF Warehouse Near Los Angeles for $13.7M

by Amy Works September 3, 2020

VERNON, CALIF. — Crown Poly, a Southern California-based producer of sustainable bagging solutions, has purchased a warehouse building in Vernon, a suburb five miles south of Los Angeles. Katie K, a private manufacturer of apparel, sold the facility for $13.7 million. Located at 5601 Bickett St., the 47,744-square-foot, single-tenant property features 26-foot clear heights, five exterior docks, two drive-in doors and 9,000 square feet of office space. The property was constructed in 2002. Kevin Kim of Coldwell Banker Commercial JM Properties represented the seller in the transaction.

September 3, 2020

Acquisitions Development Industrial Northeast Pennsylvania Top Stories

Ball Corp. to Purchase Pennsylvania Plant, Retrofit into Beverage Packaging Facility for $360M

by Alex Tostado September 3, 2020

JENKINS TOWNSHIP, PA. — Ball Corp. plans to invest $360 million to acquire Interstate Distribution Center in Jenkins Township and retrofit the facility as an aluminum beverage packaging plant. The asset comprises nearly 1.1 million square feet and Ball will employ 230 employees at the plant when it begins production, which is slated for mid-2021. According to local newspaper Times Leader, the property is located at 140 Industrial Drive, between Interstates 81 and 476 and eight miles north of downtown Wilkes-Barre. Endurance Real Estate Group built the asset in 2019. The property features 40-foot clear heights, 108 loading docks, two drive-in doors, 421 car parking spaces and 129 trailer parking spaces. “Ball Corp. has a longstanding presence in the international marketplace, and Pennsylvania is pleased with the company’s commitment to expand its manufacturing facilities in the northeast,” says Pennsylvania Gov. Tom Wolf. The project will generate more than $16 million in new employment payroll annually, according to the governor’s office. The state’s Department of Community and Economic Development (DCED) offered up to $2 million in Redevelopment Assistance Capital Project (RACP) funding to be distributed upon the creation of the new jobs, as well as $400,000 in funding for workforce development …

September 3, 2020

Acquisitions Industrial New Jersey New York Northeast

Sitex Group Acquires Two Industrial Properties Totaling 65,670 SF in The Bronx, Hackensack

by Taylor Williams September 2, 2020

NEW YORK CITY AND HACKENSACK, N.J. — Locally based investment firm Sitex Group has acquired two industrial properties totaling 65,670 square feet in the New York City area. The first property is a 25,670-square-foot warehouse located at 1155 Commerce Ave. in The Bronx that is occupied by the New York City Department of Sanitation. The second building is a 40,000-square-foot maintenance facility located at 600 S. River St. in Hackensack, New Jersey, that was formerly occupied by truck repair company Deluxe International Trucks. Greiner Maltz’s Atanu Bhattacharjee, Waterstreet Capital’s Carl Bronstein and Douglas Elliman Commercial’s Rick Dana arranged the transaction.

September 2, 2020

Acquisitions Industrial Texas

Mohr Capital Sells 400,000 SF Warehouse in Grand Prairie to TA Realty

by Taylor Williams September 2, 2020

GRAND PRAIRIE, TEXAS — Dallas-based Mohr Capital has sold a 400,000-square-foot warehouse in the central metroplex city of Grand Prairie to Boston-based investment firm TA Realty. The sale is Mohr Capital’s seventh transaction in 2020 and comes after more than 13 years of ownership of the property. Jonathan Bryan of CBRE represented Mohr Capital in the transaction. TA Realty was self-represented.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

NorthPoint Development Selects Cushman & Wakefield to Market Three Remaining Sites at Commerce Park Chicago

by Kristin Harlow September 2, 2020

CHICAGO — NorthPoint Development has selected Cushman & Wakefield to market the three remaining sites at Commerce Park Chicago. The sites offer up to an additional 1.9 million square feet of Class A industrial space. Located at the former Republic Steel site in Chicago’s Hegewisch neighborhood, Commerce Park Chicago is a 2.4 million-square-foot industrial park. Larry Goldwasser, Jason West and Colin Green of Cushman & Wakefield will represent Kansas City-based NorthPoint in both for-lease and build-to-suit opportunities.

September 2, 2020

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