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Industrial

DevelopmentIllinoisIndustrialMidwest

McShane to Construct Three-Building Spec Industrial Development in Melrose Park

by Kristin Harlow

MELROSE PARK, ILL. — McShane Construction Co. will build Industry Center at Melrose Park, a three-building, speculative industrial development in suburban Chicago. LBA Logistics is the developer. The project will total 651,617 square feet. Building I will span 130,200 square feet with a clear height of 36 feet, up to 37 truck docks, two drive-in doors, 44 trailer stalls and 151 parking spaces. Building 2 will total 350,248 square feet with a clear height of 36 feet, up to 72 truck docks, two drive-in doors, 142 trailer stalls and 251 parking spaces. Building 3 will provide 171,169 square feet with a clear height of 36 feet, up to 43 truck docks, two drive-in doors, 83 trailer stalls and 215 parking spaces. McShane demolished an existing building on the site. Harris Architects is the project architect. A timeline for completion was not disclosed.

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AcquisitionsIllinoisIndustrialMidwest

Avison Young Arranges Sale of 149,474 SF Industrial Building in Niles, Illinois

by Kristin Harlow

NILES, ILL. — Avison Young has arranged the sale of a 149,474-square-foot industrial building in Niles, a northwest suburb of Chicago. The sales price was undisclosed. The property, located at 6035 Gross Point Road, is fully leased to Fort Dearborn Co., a producer of labels for consumer goods packaging. Erik Foster and Mike Wilson of Avison Young represented the sellers, Dermody Properties and Wanxiang America Real Estate Group. Boston-based Plymouth Industrial REIT was the buyer.

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Carter-Park-Fort-Worth
DevelopmentIndustrialTexas

Black Creek Group Completes 569,000 SF Carter Park Industrial Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Denver-based Black Creek Group has completed Carter Park, a 569,000-square-foot industrial development located near the interchange of Interstates 20 and 35 in south Fort Worth. Designed by Callaway Architecture, Carter Park consists of three buildings spanning 250,000, 231,000 and 88,000 square feet that feature 32-foot clear heights, a total of 100 dock doors and ESFR sprinkler systems. Cadence McShane served as the general contractor for the project.

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DevelopmentIndustrialTexas

Cold Creek Solutions to Develop 374,560 SF Spec Cold Storage Facility in Denton, Texas

by Taylor Williams

DENTON TEXAS — Cold Creek Solutions will develop a 374,560-square-foot speculative cold storage facility on a 23-acre site just northwest of Interstate 35 and Barthold Road in the North Texas city of Denton. The facility will feature 45-foot clear heights, more than 60,000 pallet positions, multiple tenant suites with convertible temperature functionality, 65 trailer parking spaces and ample car parking. The developer is seeking a joint venture equity partner and has engaged JLL to market that opportunity.

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AcquisitionsIndustrialMassachusettsNortheast

Stream Capital Partners Arranges $34.4M Industrial Sale-Leaseback in Chicopee, Massachusetts

by Taylor Williams

CHICOPEE, MASS. — Stream Capital Partners has arranged a $34.4 million industrial sale-leaseback for National Convenience Distributors, which serves the convenience store industry, in the western Massachusetts city of Chicopee. The transaction encompassed five properties totaling 381,355 square feet. Daniel Macks, Chelsea Mandel and Jeff Lizzo of Stream Capital Partners represented National Convenience Distributors, the seller and tenant, in the transaction. The buyer was an undisclosed REIT.

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Wilmington Trade Center
DevelopmentIndustrialNorth CarolinaSoutheast

Edgewater Ventures, McKinley Building to Develop 425,000 SF Industrial Park in Wilmington, North Carolina

by Julia Sanders

WILMINGTON, N.C. — Edgewater Ventures is co-developing with McKinley Building Corp. the Wilmington Trade Center, a three-building, Class A industrial park that will total 425,000 square feet upon completion. Construction is underway on Building 1, a 157,610-square-foot facility that will feature tilt-up concrete construction with extensive glass lines, 32-foot clear heights, an ESFR sprinkler system and a 180-foot deep truck court. The property is slated to deliver in early September and will accommodate tenants ranging in size from 22,000 to 157,610 square feet. Wilmington Trade Center is situated on Highway 421 near the interchange at Interstate 140. The development is 4.2 miles from downtown Wilmington, 6.7 miles from Wilmington International Airport and 8.7 miles from the Port of Wilmington.

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Bridge Point Commerce Center
FloridaIndustrialLeasing ActivitySoutheast

Bridge Development Signs City Furniture to 286,991 SF Industrial Lease in Metro Miami

by Julia Sanders

MIAMI GARDENS, FLA. — Bridge Development Partners has signed City Furniture to a 286,991-square-foot lease at Bridge Point Commerce Center in Miami Gardens. The Fort Lauderdale-based home furnishing retailer signed a long-term lease to fully occupy Building C and will utilize the space as a new distribution center. Located on a 185-acre site at 4310 NW 215th St., Bridge Point Commerce Center offers Florida Turnpike frontage. The park is located 21 miles from Miami International Airport and 19 miles from Fort Lauderdale. Phase I of the Class A industrial park, which includes three buildings totaling 1.1 million square feet, was delivered in January 2021 and is now more than 80 percent leased. HapCor, a grocery distributor and retailer to the Caribbean and Latin America, is another tenant in the project’s first phase. Site work is underway for Phase II, which encompasses two buildings totaling 1.5 million square feet. Bridge Development expects to complete the second phase in early 2023. Divisible to 40,000 square feet, the first two buildings in Phase I total 286,991 square feet and feature 32-foot clear heights, and the third building is a 534,816-square-foot, cross-dock facility with 36-foot clear heights. Divisible to 80,000 square feet, Phase II …

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 40,625 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based Holt Lunsford Commercial has negotiated a 40,625-square-foot industrial lease within Suffolk Business Park in Fort Worth. George Jennings and Thomas Grafton with Holt Lunsford represented the landlord, DFW SD Industrial. Gibson Duwe of Transwestern represented the tenant, Jess Hall’s Serendipity, a provider of food seasonings and sauces.

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DevelopmentIndustrialMichiganMidwest

Meridian Design Build Nears Completion of Two Spec Industrial Buildings in Romulus, Michigan

by Kristin Harlow

ROMULUS, MICH. — Meridian Design Build is nearing completion of two speculative industrial buildings at Ecorse Commons Industrial Park in Romulus. NorthPoint Development is the developer. The scope of the projects involved the redevelopment of a 69.5-acre parcel that was previously home to a General Motors engine test facility. Building 1 spans 409,158 square feet with a clear height of 36 feet, four drive-in doors, 213 auto parking spaces and 107 trailer parking stalls. Building 2 spans 245,390 square with a clear height of 32 feet, 195 auto parking spaces and 68 trailer parking stalls. Eugene Agnone III and Lauren Scarpace of CBRE marketed the buildings, which have been fully leased. Studio North Architecture and Hennessey Engineers made up the project team.

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AcquisitionsIndustrialKansasMidwest

SparrowHawk Acquires Four-Building College and Renner Business Center in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Houston-based SparrowHawk LLC has acquired College and Renner Business Center in Lenexa for an undisclosed price. The 226,009-square-foot light industrial portfolio consists of four buildings ranging in size from 44,700 to 76,200 square feet. There are also 13 additional acres of developable land that SparrowHawk can utilize to expand the business center. At acquisition, the property was 91 percent leased to tenants such as GEICO, CVS Caremark, Mortgage Residential Center, SAFC BioSciences and US Foods. There is one vacancy of 19,871 square feet in Building A. SparrowHawk has selected JLL to manage the portfolio and the JLL brokerage team of Phil Algrim, Kevin Wilkerson and Erik Lund as the leasing agents. John Huguenard and Ed Halaburt of JLL represented the seller, BentallGreenOak.

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