Industrial

Visual Pak Signs 472,176 SF Industrial Lease in Bristol, Wisconsin

by Kristin Harlow March 10, 2021

BRISTOL, WIS. — Visual Pak Cos. has signed a 472,176-square-foot industrial lease at Bristol Highlands Commerce Center in Bristol, about 14 miles west of Kenosha. The Waukegan, Ill.-based company, which provides contract packaging and manufacturing solutions for food, personal care, automotive and healthcare brands, will occupy an entire building at the business park. Visual Pak is scheduled to take occupancy in the second quarter after interior improvements are completed. Whit Heitman of CBRE represented the tenant in the lease transaction. Jeff Hoffman and Eric Fischer of Cushman & Wakefield | Boerke, along with Tim Thompson of HSA Commercial Real Estate, represented ownership, HSA Commercial Real Estate and Washington Capital Management.

March 10, 2021

Acquisitions Illinois Industrial Midwest

Dayton Street Partners Sells 41,000 SF Industrial Building in Chicago

by Kristin Harlow March 10, 2021

CHICAGO — Dayton Street Partners has sold a 41,000-square-foot industrial building located at 4150 N. Knox Ave. on Chicago’s North Side. Brookfield Properties purchased the asset for an undisclosed price. Dayton Street acquired the 1.6-acre site in 2015 and completed construction of the building in 2018. The property features a clear height of 30 feet, six docks, four drive-in doors and LED lighting. It is fully leased to Johnstone Supply and Goodman Manufacturing. CBRE represented Dayton Street in the sale.

March 10, 2021

613-Main-Street-Wilmington-Massachusetts

Industrial Leasing Activity Massachusetts Northeast

Lowe’s Signs 178,757 SF Industrial Lease in Wilmington, Massachusetts

by Taylor Williams March 10, 2021

WILMINGTON, MASS. — Lowe’s Home Improvement (NYSE: LOW) has signed a 178,757-square-foot industrial lease at 613 Main St. in the northern Boston suburb of Wilmington. Tony Coskren, Ed Jarosz, Richard Ruggiero, Torin Taylor, Rick Schuhwerk, Brian Pinch and Lizzie Kusbit of Newmark represented the landlord, a joint venture between The Seyon Group and Connecticut-based Wheelock Street Capital, in the lease negotiations. The name and representative of the tenant were not disclosed.

March 10, 2021

Industrial Loans New Jersey Northeast

Stro Cos. Receives $27.8M Loan for Refinancing of Industrial Portfolio in Northern New Jersey

by Taylor Williams March 10, 2021

RIDGEWOOD, N.J. — The Stro Cos., a New Jersey-based investment firm, has received a $27.8 million loan for the refinancing of a portfolio of five industrial properties spanning 340,000 square feet in the northern part of the state. All of the properties feature drive-in doors, high ceilings and adequate truck circulation. Kearny Bank provided the loan, specific terms of which were not disclosed.

March 10, 2021

Acquisitions Industrial Massachusetts Northeast

SVN | Parsons Commercial Group Brokers Sale of 44,472 SF Industrial Property Near Boston

by Taylor Williams March 10, 2021

LOWELL, MASS. — SVN | Parsons Commercial Group has brokered the sale of a 44,472-square-foot industrial property in the northern Boston suburb of Lowell. The sales price was approximately $2.8 million. Marci Alvarado of SVN | Parsons Commercial Group represented the seller, Pagson LLC, and procured the buyer, 4th Corner LLC.

March 10, 2021

California Development Industrial Office Western

Murphy Development Starts Construction of Two Spec Industrial Buildings in San Diego’s Otay Mesa

by Amy Works March 9, 2021

SAN DIEGO — San Diego-based Murphy Development Co. has commenced construction of two speculative industrial assets – Buildings A and C – at Brown Field Technology Park, a 52-acre corporate industrial and office park in San Diego’s Otay Mesa area. Completion of the two buildings is slated for the third quarter of this year. The 105,150-square-foot Building A and the 123,913-square-foot Building C will both feature 32-foot clear heights, 4,000 amps of 277/480 power, manufacturing sewer and water capacity, ESFR sprinklers, concrete truck courts, wide column spacing and high dock door ratios designed for distribution users. The buildings can accommodate a variety of user requirements ranging from 50,000 square feet to 229,063 square feet. Andy Irwin, Ryan Spradling and Greg Lewis of JLL are overseeing leasing of the two buildings.

March 9, 2021

Acquisitions Industrial Southeast Virginia

Stan Johnson Co. Brokers $12.7M Sale of Manufacturing Facility in Salem, Virginia

by Julia Sanders March 9, 2021

SALEM, VA. — Stan Johnson Co. has brokered the sale of a single-tenant manufacturing facility in Salem fully leased to the Mack Trucks division of parent company AB Volvo Group, which is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Rob Gemerchak of Stan Johnson marketed the 280,900-square-foot property on behalf of the undisclosed seller, an individual investor based in Virginia. The undisclosed buyer, a private equity partnership based in Buenos Aires, Argentina, bought the property for $12.7 million. Located at 6450 Technology Drive, the facility launched production in 2020 and serves as Mack Trucks’ only medium-duty assembly plant in the country. The property, originally built in 1997 on 134 acres, is located along Interstate 81 just west of Roanoke and offers access to Interstates 64 and 77. The property is less than 50 miles from Volvo’s truck manufacturing facility in Dublin, Va. Property amenities include 18- to 21-foot clear heights, 11 dock doors with two drive-in doors, a sprinkler system and 400-plus parking spaces.

March 9, 2021

Development Industrial Texas

ARCO/Murray Completes 997-Unit CubeSmart Self-Storage Facility in Houston

by Taylor Williams March 9, 2021

HOUSTON — Design-build firm ARCO/Murray has completed Calhoun Avenue Storage, a 997-unit self-storage facility in Houston that will be operated by Pennsylvania-based REIT CubeSmart. Miami-based private equity firm FivePoint Capital Management developed the property, which rises four stories, spans 126,000 square feet and features a 1,000-square-foot sales office. Construction began in July 2020.

March 9, 2021

Development Illinois Industrial Midwest

ML Realty Partners to Develop Two-Building Industrial Project in Suburban Chicago

by Kristin Harlow March 9, 2021

GLENDALE HEIGHTS, ILL. — ML Realty Partners will develop Army Trail Trade Center, a two-building industrial project located along Army Trail Road in Glendale Heights, a western suburb of Chicago. The developer expects to break ground this summer on the buildings, which will total 292,500 square feet. In addition to a clear height of 32 feet, the project will feature ample car parking and 72 exterior docks. Completion of the 21-acre development is slated for spring 2022.

March 9, 2021

Industrial Leasing Activity Massachusetts Northeast

Homans Associates Signs 202,435 SF Industrial Lease in Wilmington, Massachusetts

by Taylor Williams March 9, 2021

WILMINGTON, MASS. — Homans Associates, a distributor of HVAC supplies and equipment, has signed a 202,435-square-foot industrial lease at 613 Main St. in Wilmington, a northern suburb of Boston. Tony Coskren, Ed Jarosz, Richard Ruggiero, Torin Taylor, Rick Schuhwerk, Brian Pinch, and Lizzie Kusbit of Newmark represented the landlord, a joint venture between The Seyon Group and Connecticut-based Wheelock Street Capital, in the lease negotiations. The representative of the tenant was not disclosed.

March 9, 2021

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