Industrial

Trinity Capital Advisors to Develop 274,370 SF Industrial Project in Durham

by Julia Sanders March 19, 2021

DURHAM, N.C. — Trinity Capital Advisors has acquired 20 acres at 923 Ellis Road in Durham to develop a 274,370-square-foot, Class A industrial building known as the 147 Exchange. The site is located near the Durham Freeway and Highway 147 in Raleigh-Durham’s Research Triangle Park (RTP) industrial submarket. The 147 Exchange building will feature 32-foot clear heights, 52-foot column spacing, 56 dock doors and two ground-level drive-in doors. Parking is expected to accommodate 274 cars with an additional 50 trailer parking spots. Trinity Capital has hired CBRE’s industrial team of Ann-Stewart Patterson, Bryan Everett and Austin Nagy to handle leasing of the building. Trinity Capital expects to open the property in the first quarter of 2022. DMA Architecture is in charge of architectural services, and Seamon Whiteside is the lead for civil engineering services. The industrial project is Trinity Capital’s second RTP property in the works. Development has commenced for the firm’s Alexander Commerce Park, a three-building industrial park totaling 441,000 square feet. Trinity Capital’s other projects in the Carolinas include 850,000 square feet in Charleston’s Palmetto Commerce Park and plans for 600,000 square feet in the Charlotte region at Delta Industrial Park. The firm is also currently developing the …

March 19, 2021

Acquisitions Data Centers Industrial Kansas Midwest

Verizon Data Center in Overland Park Sells for $5.8M

by Kristin Harlow March 19, 2021

OVERLAND PARK, KAN. — A 51,299-square-foot data center occupied by Verizon in Overland Park has sold for $5.8 million. Chris Orr of Romans Properties represented the buyer, a private institutional investor. Seller information was undisclosed. Charlotte, N.C.-based Romans specializes in the sale and leasing of data centers nationwide.

March 19, 2021

Development Industrial Texas

Hunt Southwest to Develop 712,900 SF Spec Industrial Project in Metro Dallas

by Taylor Williams March 19, 2021

FORNEY, TEXAS — Dallas-based developer Hunt Southwest will build Gateway East Trade Center, a 712,900-square-foot speculative industrial project in Forney, an eastern suburb of Dallas. The 45-acre site is located at the intersection of Gateway Boulevard and U.S. Highway 80 within Gateway East Industrial Park, a master-planned development. Building features will include 40-foot clear heights, an ESFR sprinkler system and abundant trailer parking. Construction is scheduled to begin in April and to be complete in the first quarter of 2022. Cushman & Wakefield is leasing the project.

March 19, 2021

Industrial Leasing Activity Northeast Pennsylvania

Chewy to Open 732,000 SF Distribution Center Near Harrisburg, Create 400 Jobs

by Taylor Williams March 19, 2021

LEWISBERRY, PA. — Pet products supplier Chewy Inc. (NYSE: CHWY) has signed a lease to open a 732,000-square-foot distribution center at Goodman Logistics Center Newberry in Lewisberry, located just south of Harrisburg. The opening of the company’s new fulfillment center, which will be its fourth in Pennsylvania, is expected to bring about 400 new jobs to the region. Bart Anderson of CBRE represented the landlord, Goodman Group, in the lease negotiations. A tentative opening date was not released.

March 19, 2021

Acquisitions Industrial New Jersey Northeast

Diversified Properties, Hampshire Cos. Acquire 40,000 SF Industrial Property in Bergenfield, New Jersey

by Taylor Williams March 19, 2021

BERGENFIELD, N.J. — A partnership between Diversified Properties and The Hampshire Cos. has acquired a 40,000-square-foot industrial property at 72 N. Washington Ave. in Bergenfield, located northwest of Manhattan. The two-story building was fully leased at the time of sale. Greg Sabato and Tom Consiglio of Resource Realty of Northern New Jersey represented the seller in the off-market transaction. Sabato and Consiglio also represented the partnership in its negotiations of a long-term lease modification and extension with the building’s only tenant, Cooper Electric, which occurred prior to acquisition.

March 19, 2021

Industrial Leasing Activity Texas

Stream Realty Partners Negotiates 91,200 SF Industrial Lease in Metro Dallas

by Taylor Williams March 18, 2021

MESQUITE, TEXAS — Stream Realty Partners has negotiated a 91,200-square-foot industrial lease at 1851 Big Town Blvd. in Mesquite, an eastern suburb of Dallas. According to LoopNet Inc., the property was built on 8.4 acres in 2001 and features 24-foot clear heights. Ryan Wolcott and Adam Jones with Stream Realty Partners represented the landlord, Link Logistics, in the lease negotiations. Sam Devorris, Mike McElwee and Pride Snow of Avison Young represented the tenant, medical equipment manufacturer Strukmyer.

March 18, 2021

Acquisitions Industrial Midwest Ohio Retail

Industrial Commercial Properties Acquires Chapel Hill Mall in Akron, Plans Redevelopment

by Kristin Harlow March 18, 2021

AKRON, OHIO — Industrial Commercial Properties (ICP) has acquired the 635,000-square-foot Chapel Hill Mall in Akron for an undisclosed price. The mall is contiguous to the former Sears building and auto center, which ICP purchased last year. With the Sears property, the total acquisition amounts to 829,000 square feet on 60 acres. ICP is considering converting the mall into a multi-tenant campus or a series of industrial buildings, but detailed redevelopment plans have yet to be released. Chapel Hill Mall is ICP’s seventh acquisition in 2021, bringing the company’s portfolio to more than 150 properties in five states.

March 18, 2021

Data Centers Development Illinois Industrial Midwest

Skybox, Prologis Underway on Development of 189,000 SF Data Center in Elk Grove Village, Illinois

by Kristin Harlow March 18, 2021

ELK GROVE VILLAGE, ILL. — Skybox Datacenters is underway on the development of Skybox Chicago I, a 189,000-square-foot data center in the suburban Chicago community of Elk Grove Village. The project is the first facility being developed as part of a new partnership between Skybox and Prologis Inc. The partnership will focus on data center markets across Chicagoland. Completion of the first facility is slated for November.

March 18, 2021

Industrial Leasing Activity New Jersey Northeast

Ingram Micro Signs 107,107 SF Industrial Lease in Fairfield, New Jersey

by Taylor Williams March 18, 2021

FAIRFIELD, N.J. — Ingram Micro, a California-based provider of IT products and services, has signed a 107,107-square-foot industrial lease at 116 Lehigh Drive in the Northern New Jersey community of Fairfield. Venture One Real Estate owns the single-tenant building, which was constructed on 8.2 acres in 1986. Thomas Mallaney, Nicholas Nitti, Denise Kokulak and David Remington of CBRE represented the tenant, which plans to take occupancy of the space in September, in its site selection and lease negotiations.

March 18, 2021

Acquisitions Industrial New Hampshire Northeast Self-Storage

Marcus & Millichap Brokers Sale of 391-Unit Self-Storage Facility in Brentwood, New Hampshire

by Taylor Williams March 18, 2021

BRENTWOOD, N.H. — Marcus & Millichap has brokered the sale of Creative Self Storage, a 391-unit facility in Brentwood, located in the southern part of the state. The property features 58,064 net rentable square feet across 357 non-climate-controlled units and 34 climate-controlled units. Nathan Coe, Brett Hatcher, Gabriel Coe and James Koury of Marcus & Millichap represented the seller in the transaction. Additional terms of sale were not disclosed.

March 18, 2021

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