Industrial

Walker & Dunlop: Rent, Lenders, Tech in the Midst of Coronavirus

by Sarah Daniels April 24, 2020

In recent weeks, the ability of commercial real estate owners to access debt and equity has come into question as the novel coronavirus wreaks havoc on the economy. While some deals in the pipeline are still getting done, the debt markets took a pause as the pandemic took hold. Debt markets were waiting for clarity on how various sectors would react, according to Mark Strauss, managing director of capital markets, and Rob Quarton, director of capital markets, with Walker & Dunlop’s Irvine, Calif., office. The two recently spoke with REBusinessOnline via Zoom about the robustness of certain asset types, market stability, debt pricing and adoption of tech-heavy creativity in the wake of COVID-19 and its effects on commercial real estate nationwide. Commercial Real Estate Debt & Coronavirus Strauss and Quarton primarily work with institutional capital sources that provide capitalization for commercial real estate developers and owners. As such, they have a broad view of all debt markets and their willingness to fund. Debt funds are one of the most affected areas of the financial markets. “The way that debt funds finance their position behind the scenes — either using collateralized loan obligations (CLOs), bank warehouse lines or repo facilities — …

April 24, 2020

Acquisitions Industrial Massachusetts Northeast

JLL Arranges $19.3M Sale of Industrial Property in Winchester, Massachusetts

by Alex Patton April 23, 2020

BOSTON — JLL has arranged the $19.3 million sale of 45 Holton Street, a 180,000-square-foot industrial warehouse in the northwestern suburb of Boston of Winchester. The building features 26-foot clear heights, 33 loading docks, two drive-in doors and roughly 18,000 square feet office space, as well as convenient access to Interstates 95 and 93 and State Route 3. At the time of sale, the property was fully leased to Tighe Logistics Group and Archive America. Matt Sherry and Jamey Lipscomb led a JLL team that represented the seller, JG Holt Ltd. Partnership, in the transaction. Brett Paulsrud and Sam Campbell led the JLL debt placement team that arranged $13.3 million in acquisition financing through Harbor One Bank for the buyer, a partnership between Boston-based firms Bain Capital Real Estate and Oliver Street Capital.

April 23, 2020

Industrial Leasing Activity Texas

Transport, Logistics Firm Geodis Signs 280,000 SF Industrial Lease in Southwest Dallas

by Taylor Williams April 23, 2020

DALLAS — International transport and logistics firm Geodis has signed a 280,000-square-foot industrial lease at 5450 W. Kiest Blvd. in southwest Dallas. According to LoopNet Inc., the site is located within Southwest Distribution Center, a 500,000-square-foot development that was completed in 1999. Ann Huntington of CBRE represented the tenant in the lease negotiations. Kacy Jones and Trapper Graff of CBRE represented the landlord, Kiest Blvd LLC.

April 23, 2020

Development Industrial Texas

Trammell Crow, Clarion Complete 85,000 SF Distribution Center for FedEx in Austin

by Taylor Williams April 23, 2020

AUSTIN, TEXAS — A joint venture between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has completed construction of an 85,000-square-foot, build-to-suit distribution center for FedEx in Austin. The Class A building is situated on 13 acres at 8233 Industry Way on the city’s southeast side and has been operational since March. The project represents Phase II of Park 183, a Class A industrial development that currently totals 330,000 square feet. A third phase consisting of 300,000 square feet has been announced and is expected to be complete by the third quarter of 2021.

April 23, 2020

Acquisitions Georgia Industrial Office Southeast

NAI Brannen Goddard Arranges $13.7M Sale of Office, Warehouse Portfolio in Metro Atlanta

by Alex Tostado April 22, 2020

DORAVILLE, GA. — NAI Brannen Goddard has arranged the $13.7 million sale of North Park, a 181,799-square-foot portfolio comprising office, warehouse and showroom space in Doraville. The property is situated at 3591-3649 Clearview Parkway, along Interstate 285 and 16 miles northeast of downtown Atlanta. David Beak and Mark Sheffield of NAI Brannen Goddard represented the seller, New North Park LLC, in the transaction. An affiliate of Atlanta-based Mimms Enterprises acquired the property.

April 22, 2020

Georgia Healthcare Industrial Southeast

Medical Suppliers Using Port of Savannah to Reach Hospitals in Georgia, Southeast

by Alex Tostado April 22, 2020

SAVANNAH, GA. — Medical suppliers are using the Port of Savannah to ship equipment to hospitals across the state and the Southeast. The Georgia Ports Authority (GPA) is collaborating with companies such as Drive Medical, which is a major supplier of beds, IV poles and other goods, to supply items needed at COVID-19 pop-up hospitals around the country. GPA is providing information such as vessel status, estimated time of arrival and container availability, as well as expedited container processing for cargo destined for COVID-19 hotspots such as New York, Detroit and New Orleans. With help from shipping lines and cargo owners, GPA can also identify containers, locate them on the vessel via U.S. Customs manifests and speed vessel discharge for specific containers. Most of the supplies are moving through the Garden City Terminal.

April 22, 2020

Industrial Leasing Activity Texas

CBRE Negotiates 585,910 SF Industrial Lease in Irving

by Taylor Williams April 22, 2020

IRVING, TEXAS — CBRE has negotiated a 585,910-square-foot industrial lease at 2650 Rental Car Drive in Irving. According to LoopNet Inc., construction of the 710,000-square-foot property was completed this year, and building features include 36-foot clear heights, 126 loading docks, 236 car parking spaces and 68 trailer parking spaces. Steve Trese and Steve Koldyke of CBRE represented the landlord, an affiliate of Trammell Crow Co., in the lease negotiations. The representative of the tenant, Sealy Mattress, was not disclosed.

April 22, 2020

Indiana Industrial Leasing Activity Midwest

American Residential Services Signs 20,439 SF Industrial Lease in Metro Indianapolis

by Kristin Harlow April 22, 2020

PLAINFIELD, IND. — American Residential Services (ARS) has signed a 20,439-square-foot industrial lease at Gateway Business Park in Plainfield near Indianapolis. The Memphis-based plumbing and HVAC company will occupy the space at 853 Columbia Road. The 104,400-square-foot building, developed in 2004, was the first phase of HSA Commercial Real Estate’s Gateway Business Park. The 55-acre park now includes six buildings totaling about 900,000 square feet. Terry Busch and Jared Scaringe of CBRE, along with Christine Muszynski of HSA, represented ownership in the lease transaction.

April 22, 2020

Acquisitions Industrial Maryland Southeast

KLNB Arranges $14.5M Sale of Warehouse in Suburban Maryland

by Alex Tostado April 21, 2020

COLUMBIA, MD. — KLNB has arranged the $14.5 million sale of Mike’s Train House, a 123,000-square-foot warehouse in Columbia. The property is situated at 7020 Columbia Gateway Drive within the Columbia Gateway Business Park. Mike’s Train House is the only distribution center within the park. The building offers 20-foot clear heights and the option to add more loading doors. Chris Kubler and Don Schline of KLNB represented the seller, MPW Enterprises LLC, in the transaction. The buyer was not disclosed.

April 21, 2020

Acquisitions Industrial New Jersey Northeast

Endurance Real Estate, PCCP Acquire Industrial Portfolio in New Jersey for $43M

by Alex Patton April 21, 2020

WAYNE, N.J. — A partnership between New Jersey-based developer Endurance Real Estate Group LLC and California-based Pacific Coast Capital Partners LLC (PCCP) has acquired the Southern New Jersey core infill portfolio for $43 million. The warehousing and distribution portfolio includes seven buildings across Swedesboro, Delran and Mount Laurel totaling 553,548 square feet. At the time of sale, the portfolio was 88 percent leased to 22 tenants, including Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group. Scott Mertz of NAI Mertz represented the buyer in the transaction. Michael Hines and Brad Ruppel led a CBRE team that represented the undisclosed seller.

April 21, 2020

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