CHICAGO — Taurus Modal Group, a Chicago-based real estate advisory firm, has rebranded as TMG Real Estate Advisors (TMG). The rebrand “embraces the firm’s industrial and office real estate brokerage roots, while also recognizing its broader focus as a multi-disciplinary real estate advisory firm,” according to a release from the company. TMG’s expanded service offerings now include strategic consulting, construction services, supply chain solutions, project management, lease administration, portfolio management and workplace strategy. Dan Smolensky and Marat Safir founded the firm in 2015.
HOUSTON — Stream Realty Partners and Principal Real Estate Investors have completed the final phase of Bay Area Business Park, a 3.3 million-square-foot industrial development located near Port Houston. The final phases consisted of three speculative building totaling 1.3 million square feet that were approximately 20 percent preleased at delivery. Development of the original 137-acre site began in 2007, with Phase I being completed in 2008 and adding 1.2 million square feet to the local supply. Phase II was completed in 2016 and added 850,000 square feet, and in 2019, the development team purchased an additional 95 acres for the property’s third and final phase.
DALLAS — Eatery Essentials, a provider of food storage containers and the U.S. subsidiary of Taiwanese supplier Vigour Pak, will relocate its corporate headquarters and primary manufacturing and warehousing operations to a 400,000-square-foot facility in Dallas. The facility will be located at 2425 Danieldale Road on the city’s south side and is expected to be operational by October. Eatery Essentials anticipates that the move will create about 150 new jobs.
ARLINGTON, TEXAS — Lee & Associates has negotiated a 41,830-square-foot industrial lease at 4100 New York Ave. in Arlington. According to LoopNet Inc., the property was built in 2018 and spans 110,468 square feet. Adam Graham and Mark Graybill of Lee & Associates represented the landlord, Boston-based Cabot Properties, in the lease negotiations. David Eseke and Gary Collett of Cushman & Wakefield represented the tenant, Wastequip Manufacturing Co., a Charlotte-based manufacturer of trash containers, compactors and other waste management equipment.
MECHANICSBURG, PA. — Cushman & Wakefield has arranged a $20.3 million loan for the refinancing of 6345 Brackbill Boulevard, a 507,634-square-foot industrial asset in Mechanicsburg, located outside of Harrisburg. The property was fully leased at the time of sale and features proximity to several major thoroughfares, including Interstates 81, 76, 83 and 283. John Alascio, Sridhar Vankayala and Maya Steinberger of Cushman & Wakefield placed the loan through Univest Bank & Trust Co. on behalf of the borrower, Penwood Real Estate Investment Management LLC.
CHICAGO — Conor Commercial Real Estate has negotiated a 316,550-square-foot industrial lease with an e-commerce retailer for the entirety of its Last Mile Logistics Center I-55 in Chicago’s Gage Park. The tenant is Amazon, according to Crain’s Chicago Business. The facility is located at the corner of 51st Street and St. Louis Avenue. The tenant plans to use the building as a last-mile distribution facility, serving residents in Chicago and the surrounding areas. Positioned on 19.5 acres, the project features 55 truck dock positions, four drive-in doors and 74 trailer stalls. Larry Goldwasser, Colin Green, Matthew Cowie and Jason West of Cushman & Wakefield represented Conor in the lease transaction. Last Mile Logistics Center I-55 provides direct access to more than 5.2 million people within a 30-minute drive, according to Conor.
Interviews conducted by Taylor Williams During the 10-year expansionary cycle, San Antonio posted one of the highest rates of population growth in the country, bringing new development of luxury apartment communities, modernized e-commerce facilities, bustling entertainment destinations and a landmark Class A office building. While some short- and long-term pain from COVID-19 is inevitable, there is also some optimism on the horizon. Industrial broker Cody Woodland of NAI Partners, multifamily developer David Lynd of LYND Co. and retail investment sales specialists Kevin Catalani and Price Onken of CBRE share thoughts on what’s happened and what’s coming in the Alamo City. Texas Real Estate Business: In terms of your sector, what have you seen in the San Antonio market in response to COVID-19? Cody Woodland: Much like other industrial markets, we’ve seen many tenants put their requirements on hold, including some sizable leases near execution. Most of these resulted in short-term extensions that should resurface in 2021. We’ve also seen numerous deals with essential users requiring immediate short-term space for storage purposes due to fluctuations in supply chains, primarily in the grocery and medical product sectors. Even during the pandemic, some long-term leases have still transacted, such as Dollar General’s 285,000-square-foot …
CARLSBAD, CALIF. — BLT Enterprises has purchased an industrial life sciences property located at 2827 Whiptail Loop West in Carlsbad. RPG sold the asset for $40.4 million. Completed in 2019, the 146,100-square-foot property features 30-foot clear heights, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system and a PH neutralization system. SAFC Carlsbad Inc. fully occupies the property. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, research and development company headquartered in Darmstadt, Germany.
MILWAUKEE — Bell Ambulance Inc. has signed a 10-year, 25,000-square-foot industrial lease at 2842 S. 5th Court in Milwaukee. Bell will primarily use the space as a central location for the servicing of its fleet of vehicles, as well as office and storage use. The company, which began operations in 1973 with three ambulances in one location, has grown to over 65 ambulances in multiple locations. David Ferron of Cushman & Wakefield | Boerke negotiated the lease, which fills the remaining vacancy at the 48,862-square-foot property. ATWU LLC is the landlord. Mercy Hill Church is the other tenant.
FLOWER MOUND, TEXAS — Engineering and logistics firm Communication Test Design Inc. (CTDI) has signed a 185,344-square-foot industrial lease at Lakeside Ranch 1001 in the northern Fort Worth suburb of Flower Mound. The deal brings the 634,564-square-foot building to full occupancy. Ken Wesson of Lee & Associates and John Morrissey of Jackson Cross represented the tenant in the lease negotiations. Matt Hyman handled negotiations internally for the landlord, Duke Realty, with JLL’s Craig Jones, Tom McCarthy and Fred Ragsdale serving as listing agents for the property.