Industrial

JLL Negotiates $201M Sale of Industrial Park in Charlotte

by Alex Tostado November 30, 2020

CHARLOTTE, N.C. — JLL has negotiated the sale of Metrolina Park, a 1.9 million-square-foot industrial campus in Charlotte’s Henderson Circle district. The sales price was not disclosed but multiple news outlets reported the eight-building business park traded for $201 million. The seller, Beacon Partners, developed the asset, which is situated on 163 acres along Statesville Road, less than one mile from Interstate 77 and six miles north of downtown Charlotte. Pete Pittroff, Patrick Nally, Travis Anderson, Jody Thornton and Dave Andrews of JLL represented the seller in the transaction. New York-based Clarion Partners acquired the asset.

November 30, 2020

Industrial Leasing Activity New Jersey Northeast

Legacy Cos. Signs 78,585 SF Industrial Lease in Hamilton Township, New Jersey

by Taylor Williams November 30, 2020

HAMILTON TOWNSHIP, N.J. — The Legacy Companies, a Florida-based food manufacturing and consumer appliance provider, has signed a 78,585-square-foot industrial lease at 2555 Kuser Road in the Northern New Jersey township of Hamilton. Ken Morris of Morris Southeast Group and Mike Witco of Chilmark Real Estate Services LLC represented the tenant in the lease negotiations. Scannell Properties owns the building.

November 30, 2020

Acquisitions Industrial Washington Western

CenterPoint Adds 126,000 SF Last-Mile Industrial Facility to Its Seattle-Area Portfolio

by Amy Works November 30, 2020

AUBURN, WASH. — CenterPoint has acquired an industrial property located at 1701 Pike Street in Auburn. Terms of the transaction were not released. Located approximately 15 miles from Seattle-Tacoma International Airport and the Port of Tacoma, the 126,000-square-foot property features 26-foot clear heights, 20 dock-high loading positions and three points of access. CenterPoint plans to make the property available for lease after a full repositioning, including an office refresh. The building is currently occupied under a short-term lease that expires in December 2021. Tony Miltenberger and Matt Wood of KBC Advisors and Matt Murray of Kidder Mathews brokered the transaction and will market the property as available for lease.

November 30, 2020

Acquisitions Industrial Southeast Virginia

Phoenix Investors Acquires 760,000 SF Industrial Plant in Lynchburg, Virginia

by Alex Tostado November 25, 2020

LYNCHBURG, VA. — Phoenix Investors has acquired the former LSC Communications Printing Co. Inc. plant in Lynchburg. The 760,000-square-foot property is situated on 50 acres at 4201 Murray Place. The asset features 32 dock doors, 62 slots for trailer storage, 523 passenger parking spots, eight drive-in doors and two interior rail spurs supported by Norfolk Southern. The property has sat vacant since LSC filed for Chapter 11 bankruptcy after the U.S. Department of Justice blocked a proposed merger with Quad Graphics. Daniel Knopf and Armando Nuñez of CBRE represented the buyer in the transaction. LSC sold the asset for an undisclosed price. Milwaukee-based Phoenix Investors also acquired a 1 million-square-foot former tire plant of Titan International Inc. in Brownsville, Texas.

November 25, 2020

Acquisitions Industrial NAI Texas

NAI Partners Brokers Sale of 50,000 SF Industrial Building in South Austin

by Taylor Williams November 25, 2020

AUSTIN, TEXAS — NAI Partners has brokered the sale of a 50,000-square-foot industrial building located at 4401 Supply Court in South Austin. Troy Martin of NAI Partners represented the buyer, CKD USA, the U.S. subsidiary of Japanese machine manufacturing firm CKD Corp. Joe Novek and Darryl Dadon of CBRE represented the seller. The new ownership plans to invest about $13 million in revamping the facility, which is expected to be operational in fall 2021 and bring about 70 new jobs to the area.

November 25, 2020

Acquisitions Industrial Midwest Missouri

Bass Pro Shops to Expand Boat Manufacturing Division with Purchase of 101,250 SF Building in Missouri

by Kristin Harlow November 25, 2020

BOLIVAR, MO. — White River Marine Group, which is owned by Bass Pro Shops, has purchased a 101,250-square-foot industrial building situated on 42 acres in Bolivar, about 30 miles north of Springfield. The purchase price was undisclosed. Todd Chambers of Chambers Real Estate Services LLC represented the undisclosed seller. The purchase will double the manufacturing capabilities for Bass in Bolivar where Tracker Boats are built. The company plans to add 300 jobs at the new property.

November 25, 2020

Acquisitions Industrial Northeast Pennsylvania

CBRE Global Investors Acquires 832,000 SF Industrial Facility in Myerstown, Pennsylvania

by Taylor Williams November 25, 2020

MYERSTOWN, PA. — A fund sponsored by CBRE Global Investors has acquired an 832,000-square-foot industrial facility located at 53 Central Blvd. in Myerstown, a city located within Lebanon County. The cross-dock building, which was acquired as part of a 1.4 million-square-foot portfolio sale, is situated on 72.8 acres and features 36-foot clear heights, 190-foot truck court depths and an ESFR sprinkler system. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE marketed the facility and negotiated the terms of sale on behalf of the undisclosed seller.

November 25, 2020

Acquisitions Industrial New York Northeast

Stan Johnson Brokers $9.2M Sale of Industrial Building Leased to FedEx Freight in Syracuse

by Taylor Williams November 25, 2020

SYRACUSE, N.Y. — Stan Johnson Co. has brokered the $9.2 million sale of a 33,304-square-foot industrial building leased to FedEx Freight in Syracuse. The 26-acre property was constructed as a build-to-suit the city’s east side in 2009. Erik Lundberg of Stan Johnson Co. represented the seller, a Pennsylvania-based private investor, in the transaction. Jerry Hopkins of Newmark represented the buyer, a California-based 1031 exchange investor.

November 25, 2020

Colorado Development Industrial Retail Western

Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora

by Amy Works November 25, 2020

AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land. Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February. Additionally, next month, the development team will add 129 acres to the project and break ground on the park’s first structure — Build 1, a 541,840-square-foot, Class A speculative building. Slated for completion in third-quarter 2021, Building 1 will features 36-foot clear heights, 50-foot by 54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 parking spaces. With the recent and upcoming additions, HighPoint Park will eventually span 400 acres and offer up to 15 buildings totaling more than 5 million square feet at full build-out. While the full-site plan for HighPoint is still flexible, the initial plans include retail development through the middle of the park, along East 64th Avenue, providing walkable retail options for tenants and visitors. The development will also feature outdoor seating areas …

November 25, 2020

Acquisitions Colorado Industrial Western

Inland Real Estate Buys 151,668 SF Last-Mile Logistics Building in Metro Denver for $57M

by Amy Works November 25, 2020

THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million. Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single tenant as an e-commerce distribution facility. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Joe Krahn and Harper Davis, also of Cushman & Wakefield, provided leasing services for the property.

November 25, 2020

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