Industrial

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

by Julia Sanders April 1, 2021

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.

April 1, 2021

Florida Industrial Leasing Activity Southeast

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

by Julia Sanders April 1, 2021

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 …

April 1, 2021

Industrial Leasing Activity Texas

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

by Taylor Williams April 1, 2021

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.

April 1, 2021

Development Industrial Michigan Midwest

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

by Kristin Harlow April 1, 2021

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.

April 1, 2021

Acquisitions Industrial Kansas Midwest

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

by Kristin Harlow April 1, 2021

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.

April 1, 2021

Acquisitions Arizona Industrial Western

NKF Negotiates $16.8M Purchase of Distribution, Manufacturing Facility in Phoenix

by Amy Works April 1, 2021

PHOENIX — Newmark Knight Frank (NKF) has arranged the acquisition of a newly built distribution and manufacturing property located at 4615 W. McDowell Road in Phoenix. A Southern California-based private investor purchased the asset from CapRock Partners for $16.8 million in a 1031 exchange. The 146,500-square-foot facility can accommodate up to four light manufacturing and distribution tenants. The property features a concrete truck court, 30 dock-high and four grade-level loading doors, 32-foot clear heights, an ESFR sprinkler system, heavy power, 2,259 square feet of office space and ample parking. Rick Sheckter and Robert Stephens of NKF represented the buyer, while Payson MacWilliam and Don MacWilliam of Colliers International represented the seller in the transaction.

April 1, 2021

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 69,828 SF Industrial Lease in Alvarado, Texas

by Taylor Williams March 31, 2021

ALVARADO, TEXAS — Dallas-based Holt Lunsford Commercial has negotiated a 69,828-square-foot industrial lease in Alvarado, located about 35 miles south of Fort Worth. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, Hearthstone Properties, in the lease negotiations. The representative of the tenant, waste management firm Clean Earth, was not disclosed.

March 31, 2021

Acquisitions Industrial Maryland Southeast

Merritt Properties Purchases Former GM Facility in Metro Baltimore for $34.5M, Plans Industrial Redevelopment

by Julia Sanders March 31, 2021

WHITE MARSH, MD. — Merritt Properties has purchased 10301 Philadelphia Road in White Marsh for $34.5 million. The property is a former GM Baltimore Global Propulsions Systems site that opened in 2000 to produce transmissions and electric motors before it closed in 2019. Bo Cashman and Jonathan Beard of CBRE represented the unnamed seller in the transaction. Located off Interstate I-95 near Interstate 695, the 56-acre project will be known as White Marsh Interchange Park. White Marsh Interchange Park is located within Merritt’s Baltimore County east portfolio, which has been 97 percent occupied since 2016. Baltimore-based Merritt Properties plans to construct up to nine, one-story buildings totaling approximately 750,000 square feet, which will create space for 50 to 100 businesses, leasing from 2,700 to 50,000 square feet or more. The company anticipates that these businesses will provide jobs for 1,200 to 1,500 people. Merritt Construction Services, the construction division of Merritt Cos., will manage future construction.

March 31, 2021

1150-McBride-Ave.-Woodland-Park-New-Jersey

Development Industrial New Jersey Northeast

Kushner, STRO to Develop 205,000 SF Industrial Project in Woodland Park, New Jersey

by Taylor Williams March 31, 2021

WOODLAND PARK, N.J. — A partnership between two New Jersey-based firms, Kushner Real Estate Group and The STRO Cos., has acquired land for the development of a 205,000-square-foot industrial building in Woodland Park, located in the northern part of the state. The cross-dock building will feature a clear height of 36 feet and is scheduled for completion early next year. Construction is scheduled to begin soon with the demolition of the existing 220,000-square-foot building, which formerly served as the headquarters of Kearfott Guidance & Navigation. Vertical construction is set to begin over the summer.

March 31, 2021

Acquisitions Florida Georgia Industrial Self-Storage South Carolina Southeast

Compass Self Storage Acquires Three Self-Storage Centers Around the Southeast

by Julia Sanders March 31, 2021

CLEVELAND — Compass Self Storage has acquired several self-storage centers that in total added over 183,000 net rentable square feet to the firm’s portfolio. The newest storage units are located at 9085 SW State Road 200 in Ocala, Fla.; 3300 Jodeco Road and 3497 Jodeco Road in McDonough, Ga.; and 5A Estate Drive in Bluffton, S.C. These three acquisitions bring Compass’ total property count to 98. Compass Self Storage has plans to upgrade all three properties, including upgraded security by offering smart locks, high definition video, lighting and individual access control. Compass Self Storage will also offer onsite truck rental services. These Compass Self Storage locations, as well as all Compass Self Storage centers nationwide, now offer contactless rentals. Compass Self Storage is a member of Cleveland-based Amsdell Cos. The three Southeast acquisitions were made by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC. The sellers and sales prices were not disclosed.

March 31, 2021

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