Industrial

Sustainable Bag Producer Buys 47,744 SF Warehouse Near Los Angeles for $13.7M

by Amy Works September 3, 2020

VERNON, CALIF. — Crown Poly, a Southern California-based producer of sustainable bagging solutions, has purchased a warehouse building in Vernon, a suburb five miles south of Los Angeles. Katie K, a private manufacturer of apparel, sold the facility for $13.7 million. Located at 5601 Bickett St., the 47,744-square-foot, single-tenant property features 26-foot clear heights, five exterior docks, two drive-in doors and 9,000 square feet of office space. The property was constructed in 2002. Kevin Kim of Coldwell Banker Commercial JM Properties represented the seller in the transaction.

September 3, 2020

Acquisitions Development Industrial Northeast Pennsylvania Top Stories

Ball Corp. to Purchase Pennsylvania Plant, Retrofit into Beverage Packaging Facility for $360M

by Alex Tostado September 3, 2020

JENKINS TOWNSHIP, PA. — Ball Corp. plans to invest $360 million to acquire Interstate Distribution Center in Jenkins Township and retrofit the facility as an aluminum beverage packaging plant. The asset comprises nearly 1.1 million square feet and Ball will employ 230 employees at the plant when it begins production, which is slated for mid-2021. According to local newspaper Times Leader, the property is located at 140 Industrial Drive, between Interstates 81 and 476 and eight miles north of downtown Wilkes-Barre. Endurance Real Estate Group built the asset in 2019. The property features 40-foot clear heights, 108 loading docks, two drive-in doors, 421 car parking spaces and 129 trailer parking spaces. “Ball Corp. has a longstanding presence in the international marketplace, and Pennsylvania is pleased with the company’s commitment to expand its manufacturing facilities in the northeast,” says Pennsylvania Gov. Tom Wolf. The project will generate more than $16 million in new employment payroll annually, according to the governor’s office. The state’s Department of Community and Economic Development (DCED) offered up to $2 million in Redevelopment Assistance Capital Project (RACP) funding to be distributed upon the creation of the new jobs, as well as $400,000 in funding for workforce development …

September 3, 2020

Acquisitions Industrial New Jersey New York Northeast

Sitex Group Acquires Two Industrial Properties Totaling 65,670 SF in The Bronx, Hackensack

by Taylor Williams September 2, 2020

NEW YORK CITY AND HACKENSACK, N.J. — Locally based investment firm Sitex Group has acquired two industrial properties totaling 65,670 square feet in the New York City area. The first property is a 25,670-square-foot warehouse located at 1155 Commerce Ave. in The Bronx that is occupied by the New York City Department of Sanitation. The second building is a 40,000-square-foot maintenance facility located at 600 S. River St. in Hackensack, New Jersey, that was formerly occupied by truck repair company Deluxe International Trucks. Greiner Maltz’s Atanu Bhattacharjee, Waterstreet Capital’s Carl Bronstein and Douglas Elliman Commercial’s Rick Dana arranged the transaction.

September 2, 2020

Acquisitions Industrial Texas

Mohr Capital Sells 400,000 SF Warehouse in Grand Prairie to TA Realty

by Taylor Williams September 2, 2020

GRAND PRAIRIE, TEXAS — Dallas-based Mohr Capital has sold a 400,000-square-foot warehouse in the central metroplex city of Grand Prairie to Boston-based investment firm TA Realty. The sale is Mohr Capital’s seventh transaction in 2020 and comes after more than 13 years of ownership of the property. Jonathan Bryan of CBRE represented Mohr Capital in the transaction. TA Realty was self-represented.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

NorthPoint Development Selects Cushman & Wakefield to Market Three Remaining Sites at Commerce Park Chicago

by Kristin Harlow September 2, 2020

CHICAGO — NorthPoint Development has selected Cushman & Wakefield to market the three remaining sites at Commerce Park Chicago. The sites offer up to an additional 1.9 million square feet of Class A industrial space. Located at the former Republic Steel site in Chicago’s Hegewisch neighborhood, Commerce Park Chicago is a 2.4 million-square-foot industrial park. Larry Goldwasser, Jason West and Colin Green of Cushman & Wakefield will represent Kansas City-based NorthPoint in both for-lease and build-to-suit opportunities.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

Corteva Agriscience Leases 300,000 SF in Galesburg, Illinois

by Kristin Harlow September 2, 2020

GALESBURG, ILL. — Corteva Agriscience has leased 300,000 square feet at a former Maytag facility located at 1801 Monmouth Blvd. in Galesburg, about 45 miles northwest of Peoria. Corteva is an agricultural chemical and seed company. Phoenix Investors owns the building, which has been vacant since Maytag closed the plant over a decade ago. Phoenix purchased the facility in June 2019. Corteva will take occupancy this fall once renovations are completed.

September 2, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 158,700 SF Industrial Campus in Northwest Houston

by Taylor Williams September 2, 2020

HOUSTON — Lee & Associates has brokered the sale of a 158,700-square-foot industrial campus located at 6500 Brittmoore Road in northwest Houston. The campus consists of eight buildings on 13 acres. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the buyer, privately held development firm Adkisson Group, in the transaction. The seller and sales price were not disclosed. Lee & Associates will also be marketing the property for lease.

September 2, 2020

Arizona Industrial Leasing Activity Western

Empire Metal Products Leases 42,000 SF Industrial Building in Phoenix

by Kristin Harlow September 2, 2020

PHOENIX — Empire Metal Products Inc. has leased a 42,000-square-foot industrial building in Phoenix. David Wilson and Carter Wilson of DAUM Commercial Real Estate Services negotiated the 10-year lease on behalf of the tenant and the landlord, a private investor. Empire, a metal production company specializing in sheet metal, stainless steel, aluminum and copper, is relocating and expanding from its current Phoenix headquarters. Empire’s new facility sits on 2.2 acres at 2362 W. Shangri-la Road within the Metro Industrial Center. The fully air-conditioned building features a clear height of 18 feet and 125 car parking spaces.

September 2, 2020

Acquisitions Industrial Texas

Americold Realty Trust Buys AM-C Warehouses Cold Storage Facilities in DFW for $82.5M

by Taylor Williams September 1, 2020

MANSFIELD AND GRAND PRAIRIE, TEXAS — Americold Realty Trust (NYSE: COLD), a publicly traded REIT specializing in cold storage properties, has acquired two facilities operated by AM-C Warehouses in the Dallas-Fort Worth (DFW) metros of Mansfield and Grand Prairie for a combined $82.5 million. The facilities feature a combined 13.8 million cubic feet and 45,000 pallet positions. Atlanta-based Americold Realty Trust will invest $2.5 million in capital improvements to the properties.

September 1, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 375,000 SF Industrial Lease for HelloFresh in Irving

by Taylor Williams September 1, 2020

IRVING, TEXAS — Lee & Associates has negotiated a 375,000-square-foot industrial lease for meal kit provider HelloFresh at 2700 Market St. in Irving. The newly built facility, which is located within Gateway Logistics Center, will function as the company’s largest distribution center. Trey Fricke and Reid Bassinger of Lee & Associates’ DFW office, along with Dennis Smeck and Justin Myers of the firm’s New York City office, represented HelloFresh in the lease negotiations. Mark Hayes of HPI Real Estate Services & Investments represented the landlord. HelloFresh expects to take occupancy of the facility in March 2021.

September 1, 2020

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