Industrial

Chewy to Open $55M Distribution Center in North Carolina, Create 1,200 New Jobs

by Alex Tostado April 22, 2019

SALISBURY, N.C. — Online pet products retailer Chewy will open a $55 million distribution center in Salisbury, a city located roughly midway between Charlotte and Greensboro. The project is expected to bring 1,200 new jobs to the area. Local media outlet The Salisbury Post reports that the facility will span about 700,000 square feet, and that the groundbreaking will be held in May with completion slated for June 2020. The property will be the ninth fulfillment center in the country for Chewy, which is headquartered in Boston and Dania Beach, Fla. In April 2017, PetSmart acquired Chewy for a reported $3.35 billion.

April 22, 2019

Industrial Leasing Activity Massachusetts Northeast Office

R.W. Holmes Negotiates 14,011 SF Lease for Flex Space in Burlington, Massachusetts

by Taylor Williams April 22, 2019

BURLINGTON, MASS. — R.W. Holmes Commercial Real Estate has negotiated a 14,011-square-foot lease for flex space at 141 Middlesex Turnpike in Burlington, about 20 miles northwest of Boston. The tenant was Zimmer Northeast, a subsidiary of Zimmer Biomet (NYSE: ZBH), which manufactures and distributes orthopedics products. Mike Ogasapian and Garry Holmes of R.W. Holmes represented the tenant in the lease negotiations. Jordan Yarboro and Madison Chambers of JLL represented the landlord, The Berman Cos.

April 22, 2019

Kennedy-Greens-Distribution-Center-I-Houston

Development Industrial Texas

Clay Development Breaks Ground on 524,528 SF Spec Distribution Center in Houston

by Taylor Williams April 22, 2019

HOUSTON — Clay Development & Construction Inc. has broken ground on Kennedy Greens Distribution Center I, a 524,528-square-foot speculative industrial facility that will be located near George Bush Intercontinental Airport on Houston’s north side. The 29.2-acre site on which the facility will be situated is housed within Clay’s 145-acre Kennedy Greens South Business Park and allows for additional expansion of up to 500,000 square feet. The building will be designed as a cross-dock facility with 36-foot clear heights, 60-foot speed bays, 107 dock-high doors, 130-foot truck courts, 300 employee parking spaces and the option of 130 trailer parking spaces. Completion is slated for the fourth quarter. Clay will work with CBRE on marketing and leasing of the property. Trustmark Bank provided construction financing for the project.

April 22, 2019

Industrial Leasing Activity Texas

NAI Partners Negotiates 12,000 SF Industrial Lease in Houston

by Taylor Williams April 22, 2019

HOUSTON — NAI Partners has negotiated a 12,000-square-foot industrial lease at 8020 Leghorn St. in Houston. According to LoopNet Inc., the property was built in 1998, offers 26,000 square feet of rentable space and features 18- to 20-foot clear heights. Andy Parrish and Lesley Rice of NAI Partners represented the landlord in the lease negotiations. The tenant was Texas-based Cooper Flooring.

April 22, 2019

Acquisitions California Industrial Western

Innovative Industrial Properties Buys Southern California Industrial Portfolio for $27.1M

by Amy Works April 22, 2019

SAN DIEGO — Innovative Industrial Properties (IIP) has acquired a five-property industrial portfolio in Southern California for $27.1 million. The assets total 102,000 square feet of industrial space. This acquisition marks IIP’s second investment in California, following the company’s acquisition in Sacramento earlier this year. The company claims to be the only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry. Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at each property with a licensed cannabis operator. The tenant intends to operate the properties as licensed cannabis cultivation, manufacturing, processing and distribution facilities in accordance with California regulations.

April 22, 2019

Arizona Development Industrial Western

Conor Commercial, Globe Corp. Assemble 18.8-Acre Land Parcel for Airport 40 Spec Industrial Project in Phoenix

by Amy Works April 22, 2019

PHOENIX — Conor Commercial Real Estate and Globe Corp. have assembled 18.8 acres within the Sky Harbor Airport submarket of Phoenix for the development of Airport 40, a 320,700-square-foot speculative industrial development. Construction is slated to begin in June, the two-building project will include Building 1, a 211,900-square-foot rear-load facility featuring 40 dock-high doors and six drive-in doors; and Building 2, a 108,800-square-foot property with 28 dock doors and four drive-in doors. Both buildings will feature 32-foot clear heights, built-to-suit office space, ample vehicle parking and 75 oversized truck trailer stalls. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield negotiated the purchase of the parcels in three separate transactions for a combined total of $8.1 million.

April 22, 2019

Acquisitions Arizona Industrial Self-Storage Western

Marcus & Millichap Brokers Sale of RV Storage Facility in Tucson, Arizona

by Amy Works April 22, 2019

TUCSON, ARIZ. — The LaClaire Group of Marcus & Millichap has negotiated the sale of National RV Central, a 125,015-square-foot recreational vehicle storage facility in Tucson. A Colorado-based national private self-storage operator acquired the property from a local partnership for an undisclosed price. Situated next to Interstate 10, National RV Central features 112,115 rentable square feet of indoor, climate-controlled RV storage; 5,100 rentable square feet of traditional drive-up self-storage space; and a 7,800-square-foot service bay rented to a third party. Built in 2006, the property features fully enclosed RV and boat storage. Thomas Parson and Adam Schlosser of Marcus & Millichap represented the seller in the deal.

April 22, 2019

Acquisitions Industrial Western Wyoming

Stan Johnson Co. Arranges $7.1M Sale of 36,720 SF Industrial Building in Wyoming

by Amy Works April 22, 2019

GILLETTE, WY. — Stan Johnson Co. has brokered the sale of an industrial building, located at 2600 E. Second St. in Gillette. New York-based AR Global Investments acquired the property from a local Wyoming developer for $7.1 million. Cummins Inc. occupies the 36,720-square-foot building on a double-net-lease basis. Jason Powell and Colin Couch of Stan Johnson Co. represented both parties in the transaction.

April 22, 2019

Industrial Market Reports Southeast Southeast Market Reports Tennessee

E-Commerce Firms, 3PLs Looking for Last Mile Facilities in Nashville Market

by Alex Tostado April 22, 2019

The industrial real estate sector is currently undergoing one of the greatest expansionary periods in the nation’s history. Record development, all-time high occupancy and rental rates and strong leasing activity have been a boon to the U.S. industrial market in the last two years. In addition to these fundamental elements that make up a strong sector, there has been a demand driver that has transformed the industrial market more now than ever: e-commerce. Amazon is now the largest industrial occupier post-recession, which is forcing retailers and wholesalers to modernize their supply chain to keep up. E-commerce is not a new phenomenon, but it is becoming increasingly competitive, and is expected to grow another 55 percent in the next four years, according to Colliers International research. E-commerce has reshaped the way people purchase goods, resulting in new increased requirements on the transportation of products. As such, organizations are needing to reevaluate their supply chain strategies and transportation costs, and demand for smaller fulfillment centers closer to the urban population is exploding. This challenge around the “last-mile delivery” is altering the distribution and logistics sectors. IMS Worldwide defines the last mile as the “last point of distribution or sortation to the final …

April 22, 2019

Development Georgia Industrial Southeast

Chick-fil-A to Build First Company-Owned Distribution Center, Create 300 Jobs in North Georgia

by Alex Tostado April 19, 2019

CARTERSVILLE, GA. — Chick-fil-A will build its first company-owned distribution center in Cartersville, a project that will create about 300 jobs. The distribution center will open this summer as a pilot facility, serving as a learning lab while the full-scale center is being built. When the full-scale center is delivered at its expected date of summer 2020, it will serve 300 Chick-fil-A restaurants. The property will also house 300 employees with jobs including drivers, warehouse team members, leadership team members and administrative staff. Multiple media outlets report that Chick-fil-A D2 Services LLC paid $3.7 million for a 50-acre site near Cartersville Business Park, which is located about 45 miles north of downtown Atlanta.

April 19, 2019

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