Industrial

NAI Brokers $1.6M Sale of Industrial Building on Long Island

by Alex Patton October 28, 2019

LONG ISLAND, N.Y. — NAI Long Island has brokered the 1.6 million sale of a 10,000-square-foot industrial building in the Huntington Station neighborhood on Long Island. The single-tenant manufacturing facility was completed in 1966 and offers 14-foot clear ceiling heights, one dock-high door and two drive in doors. Gary Pezza of NAI Long Island represented the seller, 55 Craven Realty LLC, in the transaction. Alberto Fiorini of Alliance Real Estate Corp. represented the buyer, Giambrone Realty LLC.

October 28, 2019

Development Industrial Midwest Missouri

LANE4 to Break Ground on Three-Building Industrial Development in Liberty, Missouri

by Kristin Harlow October 28, 2019

LIBERTY, MO. — LANE4 Property Group has unveiled plans to develop a three-building, speculative industrial project in Liberty known as Liberty Logistics Center. Situated on a 68-acre tract of land at Missouri Highway 69 and Liberty Parkway, the project is adjacent to the Ford assembly plant and visible from I-35. Construction is expected to begin within a month and the first building, spanning 741,000 square feet, is slated for completion in late 2020. The two smaller buildings will measure 80,000 and 132,000 square feet. The project will also include a retail portion known as Liberty Parkway Plaza, containing eight pad sites fronting I-35 and the industrial buildings. LANE4 serves as developer for the entire project and leasing agent for the retail component. Joe Orscheln of CBRE will market the industrial portion for lease. Davidson Architecture & Engineering is providing architectural and engineering services.

October 28, 2019

Acquisitions California Industrial Northeast Pennsylvania Top Stories Western

Prologis to Acquire Liberty Property Trust in $12.6B All-Stock Deal

by Taylor Williams October 28, 2019

SAN FRANCISCO AND MALVERN, PA. — San Francisco-based Prologis Inc. has entered into a definitive agreement to acquire Pennsylvania-based Liberty Property Trust in an all-stock transaction valued at approximately $12.6 billion, inclusive of outstanding debt. The deal between the two industrial REITs is expected to close in the first quarter of 2020. Under the terms of the agreement, Prologis (NYSE: PLD) will acquire roughly 107 million square feet of stabilized logistics space, 5.1 million square feet of logistics product in various stages of development and 1,684 acres with a future build-out potential totaling 19.7 million square feet. In addition, Liberty (NYSE: LPT) shareholders will receive 0.675 in shares of Prologis common stock for each Liberty share they own. Both the board of directors of Prologis and the board of trustees of Liberty have unanimously approved the transaction. Prologis plans to dispose of $3.5 billion in assets, including $2.8 billion of non-strategic logistics properties and $700 million of office properties, to help finance the acquisition. “The joining of these two platforms at this moment, when industrial logistics has become so pivotal to the new economy, will further the industry’s ability to support the nation’s supply chain and enhance value creation for …

October 28, 2019

Development Industrial Self-Storage Texas

ARCO/Murray Completes 650-Unit Self-Storage Facility Near Fort Worth

by Taylor Williams October 25, 2019

SOUTHLAKE, TEXAS — Dallas-based design-build firm ARCO/Murray has completed a 650-unit self-storage facility in Southlake, a northern suburb of Fort Worth. The three-story facility spans 104,000 square feet and includes a 1,300-square-foot office space and an interior loading area. The developer was The Jenkins Organization, a self-storage firm based in Houston.

October 25, 2019

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Secures 92,710 SF Industrial Lease at Park 20/35 in Metro Dallas

by Taylor Williams October 25, 2019

LANCASTER, TEXAS — Lee & Associates has negotiated a 92,710-square-foot industrial lease at Park 20/35 in Lancaster, a southern suburb of Dallas. Becky Thompson of Lee & Associates represented the tenant, Motors & Armatures Inc., an HVAC component manufacturer, in the lease negotiations. Kacy Jones, John Hendricks and Trapper Graff of CBRE represented the landlord, CalSTRS.

October 25, 2019

Acquisitions Industrial New Jersey Northeast

NAI Mertz Arranges Sale of 80,300 SF Industrial Building in Logan, New Jersey

by Alex Patton October 25, 2019

LOGAN, N.J. — NAI Mertz has arranged the sale of an 80,300-square-foot industrial building in Logan, a southwestern suburb of Philadelphia. Zoned for food processing, the building offers cooler and freezer space as well as 30-foot clear ceiling heights, 19 dock doors and 10,403 square feet of office space. The facility is part of the six-acre Pureland Industrial Complex, which is home to tenants including Amazon, Mitsubishi, Mercedes-Benz and Home Depot. Jonathan Klear of NAI Mertz represented the buyer, Burton Real Estate, in the transaction. The seller and sales price were undisclosed.

October 25, 2019

Acquisitions Industrial Midwest Wisconsin

NKF Arranges Sale of 350,274 SF Industrial Property in Wisconsin

by Kristin Harlow October 25, 2019

STURTEVANT, WIS. — Newmark Knight Frank (NKF) has arranged the sale of a 350,274-square-foot industrial property located at 7601 Durand Ave. in Sturtevant. Neither the sales price nor the buyer were disclosed. Michael Prost, Sergio Chapa and Corey Chase of NKF represented the seller, Venture One Real Estate. NKF represented Venture One in January 2018 when the company acquired the property. Since then, Venture One implemented improvements such as a new roof, parking lot, lighting, façade and offices. The building features 24,000 square feet of office space and 30 dock doors.

October 25, 2019

Industrial Leasing Activity Midwest Wisconsin

Hanes Signs 25,000 SF Industrial Lease in Menomonee Falls, Wisconsin

by Kristin Harlow October 25, 2019

MENOMONEE FALLS, WIS. — Hanes Cos. has signed a 25,000-square-foot industrial lease in Menomonee Falls. The property is located on Old Orchard Road. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of Dickman Co. Inc. represented the landlord, House 10 LLC, in the lease transaction. Bill Langhoff of Colliers International represented Hanes.

October 25, 2019

Acquisitions Industrial Texas

Granite REIT Buys 2.3 MSF Industrial Facility Leased to Amazon in West Dallas

by Taylor Williams October 24, 2019

DALLAS — Canada-based Granite Real Estate Investment Trust has acquired a 2.3 million-square-foot industrial facility situated on 101 acres at 1301 Chalk Hill Road in west Dallas that is fully leased for an initial lease term of 20 years. The Dallas Morning News reports that the tenant is Amazon. Features of the building, which is located about seven miles west of downtown, include 41-foot clear heights, 2,500 auto parking spaces and 300 trailer parking spaces. Granite REIT acquired the property as part of a $296 million acquisition package that also included large-scale industrial facilities in Georgia and Indiana.

October 24, 2019

Development Industrial Texas

Koontz Completes 327,000 SF Foster Ridge Distribution Center in Northeast San Antonio

by Taylor Williams October 24, 2019

SAN ANTONIO — Locally based developer Koontz Corp. has completed Foster Ridge Distribution Center, a 327,000-square-foot industrial project in northeast San Antonio. The property is situated on 21 acres near a distribution center leased to Dollar General and the 871-acre site that will eventually house H-E-B’s distribution facilities. Foster Ridge Distribution Center is a cross-dock building that features 32-foot clear heights, 75 dock-high overhead doors, 130-foot truck courts and an ESFR sprinkler system. Houston-based Powers Brown served as the architect for the project, and San Antonio-based R.C. Page was the general contractor.

October 24, 2019

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