Industrial

Cedarwood Development Completes 787-Unit Self-Storage Facility in Orlando

by Alex Tostado April 9, 2020

ORLANDO, FLA. — Cedarwood Development has completed a 787-unit, 117,000-square-foot self-storage facility for operator US Storage Centers in Orlando. The property features climate-controlled units, passenger elevators, moving carts, 24-hour video surveillance and moving supplies. The property is situated at 930 Sligh Blvd., a mile south of downtown Orlando. Orange, Calif.-based US Storage Centers, which operates more than 9 million square feet of self-storage space in the U.S., will manage the property. Fairlawn, Ohio-based Cedarwood Development is an affiliate of Cedarwood Cos.

April 9, 2020

Georgia Industrial Leasing Activity Southeast

XPO Logistics Renews 254,358 SF Industrial Lease Near Atlanta

by Alex Tostado April 9, 2020

MORROW, GA. — XPO Logistics, a transportation and logistics provider, has renewed its 254,358-square-foot industrial lease within Mt. Zion Industrial Center in Morrow. The property offers 72 dock doors, two drive-in doors, 22-foot clear heights, a five-inch concrete floor, parking for 110 trailers and a new roof. Woodmont Industrial Partners owns the property, which is situated at 1791 Mount Zion Road, nine miles southeast of Hartsfield-Jackson Atlanta International Airport and 15 miles south of downtown Atlanta. Brian Camp and Max Ellis of Colliers International represented the landlord in the transaction. Dan Rose of Real Estate Advisory Partners (REAP) represented XPO Logistics.

April 9, 2020

Development Illinois Industrial Midwest

Meridian Design Build Completes Construction of 84,000 SF Meat Processing Facility in Chicago

by Kristin Harlow April 9, 2020

CHICAGO — Meridian Design Build has completed construction of an 84,000-square-foot USDA meat processing facility for Amylu Foods within Chicago’s Stockyards Industrial Park at 1400 W. 44th St. Amylu has relocated from its West Loop plant, where it operated for more than 95 years. The new sausage processing plant includes 56,000 square feet of production and cold storage space, a freezer, a 16,500-square-foot office space, a test kitchen and laboratory space. Meridian also installed an expandable ammonia refrigeration plant for cooling and production loads. Harris Architects and Kimley-Horn made up the project team.

April 9, 2020

Industrial Leasing Activity New Jersey Northeast

Sheldon Gross Realty Negotiates 57,722 SF Industrial Lease in Edison, New Jersey

by Alex Patton April 9, 2020

EDISON, N.J — Sheldon Gross Realty has negotiated a 57,722-square-foot industrial lease at 125 Jackson Ave. in Edison, a southwestern suburb of New York City. The tenant, Izzy Trucking & Rigging, is headquartered in Edison and leased the space at the property for additional warehousing use. The 106,476-square-foot building was constructed in 1957 and renovated in 1997. Jonathan Glick and Matthew Leonelli of Sheldon Gross represented the landlord, Ross Industries, in the lease negotiations. Greg Irving of Bussel Realty Corp. represented the tenant.

April 9, 2020

Industrial Market Reports Midwest Midwest Market Reports Ohio

Developers Flock to Columbus Industrial Market

by Kristin Harlow April 9, 2020

Columbus continues to be a powerhouse in the industrial market of the Midwest. Fueling this growth are its strategic logistics location as well as being the Ohio state capital and home to eight colleges and universities in central Ohio. Job creation in Columbus remains ahead of Ohio with employment expanding nearly 22 percent since 2010, twice the state’s rate of expansion. The region’s largest employers include The Ohio State University, OhioHealth, JP Morgan Chase and Nationwide Mutual Services. These companies employ nearly 100,000 in central Ohio. Columbus is also one of the hottest housing markets in the nation, with overall median sales prices increasing 7.6 percent over 2018 and sellers receiving, on average, 98.7 percent of the last list price at sale. Columbus has a greater access to the U.S. market within a 10-hour drive than any other major metropolitan area in the country. The area has access to 46 percent of the U.S. population within a 10-hour truck drive. This proximity continues to attract large corporations to the area, including Amazon, Facebook, Google and Walmart, who are all occupying new distribution and data centers in the region. The market’s industrial vacancy rate of 5 percent at the end of …

April 9, 2020

Development Industrial Texas

Gulf Corp., Tailwind Complete 131,178 SF Industrial Project in Laredo

by Taylor Williams April 8, 2020

LAREDO, TEXAS — Developer Gulf Corp. and equity partner Tailwind Real Estate Equities have completed I-35 Logistics Center, a 131,178-square-foot industrial project in the South Texas city of Laredo. The Class A facility features 4,000 square feet of office space, 32-foot clear heights, 46 dock-high doors, 73 trailer parking spaces and an ESFR sprinkler system. Park Avenue Construction served as the general contractor for the project, construction of which began in August 2019. CBRE is handling leasing.

April 8, 2020

Industrial Leasing Activity Midwest Ohio

Nichols Paper & Supply Co. Signs 45,000 SF Industrial Lease in Suburban Cleveland

by Kristin Harlow April 8, 2020

OAKWOOD VILLAGE, OHIO — Nichols Paper & Supply Co. has signed a 45,000-square-foot industrial lease in Oakwood Village, a southern suburb of Cleveland. The paper company is relocating its Cleveland distribution center to Oakwood Village. David Hexter and Jeffrey Calig of NAI Pleasant Valley represented the tenant in the lease transaction. The landlord was not disclosed.

April 8, 2020

Acquisitions Industrial New Jersey Northeast

Colliers Arranges Sale of 29,418 SF Industrial Property in Pennsauken, New Jersey

by Alex Patton April 8, 2020

PENNSAUKEN, N.J. — Colliers International has arranged the $1.3 million sale of 8000 National Highway, a 29,418-square-foot industrial property in Pennsauken, an eastern suburb of Philadelphia. The building features 14-foot clear heights and convenient access to Interstate 95 and U.S. Route 130. Patrick J. Kelly Drums, a provider of sustainable storage products, acquired the property. Ian Richman and Marc Isdaner of Colliers represented the seller, Puratos Corp.

April 8, 2020

Acquisitions Industrial Maryland Southeast Top Stories

GLL Real Estate Partners Acquires 1.1 MSF Industrial Development Near Baltimore for $90M

by Kristin Harlow April 8, 2020

CURTIS BAY, MD. — Germany-based GLL Real Estate Partners has acquired Brandon Woods III, a two-building industrial development in Curtis Bay, for $90 million. Chesapeake Real Estate Group LLC (CREG) and EverWest Real Estate Investors LLC sold the buildings. The sale also includes two land parcels with the potential for another 250,000 square feet of development. The two assets span 840,000 square feet at 7550 Perryman Court and 7659 Solley Road, just south of Baltimore near the Patapsco River. The building at 7550 Perryman Court is considered the largest speculative industrial building ever constructed in Anne Arundel County, according to CREG. Best Buy leased the entire building in summer 2018 and currently employs approximately 300 workers at the facility. The building is used as a warehouse and distribution center for large products, as well as a repair site for major appliances and televisions. The other building, 7659 Solley Road, is a recently delivered, 340,000-square-foot speculative property. It features a clear height of 36 feet, 87 dock doors, four drive-in doors, a 130-foot truck court and parking for 257 cars and 61 trailers. CREG was retained to oversee the construction, leasing and management at Brandon Woods III, which should total approximately …

April 8, 2020

Development Florida Industrial Southeast

Brennan Investment Group Delivers 411,000 SF Industrial Property in Port St. Lucie, Florida

by Alex Tostado April 7, 2020

PORT ST. LUCIE, FLA. — Brennan Investment Group has delivered a 411,000-square-foot industrial facility for City Electric Supply/Tamco in Port St. Lucie. The property, which features 40,000 square feet of office space, will also serve as City Electric’s North American Manufacturing headquarters. The tenant manufactures and distributes lighting and electrical equipment products through City Electric Supply branches throughout the country. Tamco, one of City Electric’s retail brands with stores nationwide, is consolidating its space from five locations around Port St. Lucie to the new facility. In addition to developing the new facility, Brennan also acquired the five locations that Tamco occupied before selling them to an undisclosed Florida-based investor.

April 7, 2020

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