Industrial

Logistics Firm Cryoport Signs 20,000 SF Industrial Lease in Morris Plains, New Jersey

by Alex Patton June 22, 2020

MORRIS PLAINS, N.J. — Third-party logistics provider Cryoport, which provides climate-controlled distribution services for biopharmaceutical and animal health organizations, has signed a 20,000-square-foot industrial lease in Morris Plains, approximately 35 miles west of New York City. Cryoport is relocating from Livingston, New Jersey, to a space that is located inside a 55,000-square-foot distribution facility at 900 American Road. Robert Donnelly Jr. of Cushman & Wakefield represented Cryoport in the lease negotiations. Gregory Sabato and Scott Peck of Resource Realty represented the landlord, Commercial Realty Group of Parsippany.

June 22, 2020

Development Industrial Texas

Food Supplier Yo Quiero Opens 45,000 SF Distribution Center Near Fort Worth

by Taylor Williams June 22, 2020

RHOME, TEXAS — Texas-based food supplier Yo Quiero Brands has opened a 45,000-square-foot distribution center in Rhome, a northern suburb of Fort Worth. General contractor O’Connor Construction broke ground on the facility in April 2019. Yo Quiero, which also operates a facility in Mexico, specializes in the production and distribution of Latin foods such as guacamole, queso and salsa.

June 22, 2020

Industrial Leasing Activity New Jersey Northeast

Gold Medal Bakery Signs 23,500 SF Industrial Lease in Hackensack, New Jersey

by Alex Patton June 19, 2020

HACKENSACK, N.J. — Gold Medal Bakery has signed a 23,500-square-foot industrial lease in Hackensack, a northwestern suburb of New York City. The space is located within a 65,700-square-foot warehousing and distribution facility at 215 S. Newman St. The building features two drive-in loading docks and a clear height of 16 feet. The property offers convenient access to the New Jersey Turnpike, Interstate 80 and the Garden State Parkway. The Stro Companies is the owner of the building.

June 19, 2020

California Industrial Loans Western

Bellwether Enterprises Arranges $97.7M Loan for Five Industrial Properties in Southern California

by Amy Works June 19, 2020

LOS ANGELES COUNTY, CALIF. — Bellwether Enterprise Real Estate Capital has closed a $97.7 million loan for five warehouse and distribution facilities in Southern California. Four of the buildings are located in the South Bay submarket of Los Angeles County and the remaining property is located in the Inland Empire West submarket. Shelley Magoffin and Max Sauerman of Bellwether Enterprise’s Los Angeles office arranged the 25-year, fully amortizing loan with Thrivent Financial for the undisclosed borrower. The planned use of the funds was not released. Ranging in size from 60,000 square feet to more than 500,000 square feet, the five properties offer minimal office build out and minimum clear heights of 18 feet to 36 feet. One building offers refrigerator space. In total, the properties offer nearly 950,000 square feet of warehouse and distribution space. Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment.

June 19, 2020

Acquisitions Illinois Industrial Midwest

Phoenix Investors Acquires 500,000 SF Industrial Facility in Normal, Illinois

by Kristin Harlow June 19, 2020

NORMAL, ILL. — An affiliate of Phoenix Investors has acquired an approximately 500,000-square-foot industrial facility in Normal, just north of Bloomington. The purchase price was undisclosed. The property sits on 65.6 acres at 301 W. Kerrick Road. Wildwood Industries Inc. started development of the facility 12 years ago, but it was never fully completed or occupied. Phoenix plans to invest capital into the project to bring it to completion. The development features a clear height of 30 feet and 84 exterior docks. Ken Szady and Krysti Galvin of Marcus & Millichap brokered the sale.

June 19, 2020

Development Illinois Industrial Midwest

Seefried to Develop 163,000 SF Industrial Project in Elk Grove Village, Illinois

by Kristin Harlow June 19, 2020

ELK GROVE VILLAGE, ILL. — Seefried Industrial Properties has acquired an 8.8-acre site in Elk Grove Village with plans to develop a two-building industrial project spanning 163,000 square feet. The speculative development, situated in the Centex Industrial Park near O’Hare International Airport, will feature a clear height of 32 feet, 24 docks, eight trailer positions and 175 car parking spaces. Jonathan Kohn and Ron Behm of Colliers International represented Seefried in the land assemblage. The project team includes Harris Architects, Jacob & Hefner and Premier Design + Build. Completion is slated for the first quarter of 2021.

June 19, 2020

Acquisitions Kentucky Self-Storage Southeast

SkyView Advisors Negotiates Sale of 421-Unit Self-Storage Facility on Louisville’s East Side

by John Nelson June 19, 2020

LOUISVILLE, KY. — SkyView Advisors has negotiated the sale of Aladdin Self Storage, a 421-unit facility in Louisville. The property spans 3.5 acres and comprises 46,465 square feet. Aladdin Self Storage is situated at 3413 Collins Lane, 16 miles east of downtown Louisville. Zack Urow or SkyView Advisors represented the undisclosed, private seller in the transaction. The buyer was an undisclosed REIT. The sales price was also not disclosed.

June 19, 2020

Development Industrial Texas

Trammell Crow Breaks Ground on 850,000 SF Amazon Fulfillment Center in Metro Houston

by Taylor Williams June 18, 2020

RICHMOND, TEXAS — Dallas-based Trammell Crow Co. has broken ground on an 850,000-square-foot fulfillment center for Amazon in Richmond, a southwestern suburb of Houston, a project that is expected to bring about 1,000 new jobs to the region. The property will be situated on 93.5 acres at 10507 Harlem Road and is expected to open in 2021. Ware Malcomb is designing the project, and Graycor Construction Co. is the general contractor. Other project partners include engineering firms HAS & Associates, Langan Engineering, Jordon & Skala Engineers and Harrington Group Inc. Tony Patronella and Jeanie Gibbs of locally based firm Read King represented the seller of the land. Stephen Schneidau of Cushman & Wakefield and Matt O’Brian of KBC Advisors represented the buyer.

June 18, 2020

Development Industrial South Carolina Southeast

Sudler to Develop 172-Acre Fox Hill Business Park in Upstate South Carolina

by Alex Tostado June 18, 2020

FOUNTAIN INN, S.C. — The Sudler Cos. will develop Fox Hill Business Park, which will span 172 acres at full buildout, in Fountain Inn. Sudler will break ground on the first spec property, a 206,410-square-foot building, this quarter. The building will feature 32-foot clear heights and trailer parking. The Chatham Township, N.J.-based developer expects to deliver the property in spring 2021. Fox Hill will be situated at 189 Milacron Drive, 19 miles southeast of downtown Greenville. Grice Hunt, Ford Borders and Clay Williams of NAI Earle Furman LLC will handle leasing and marketing efforts on behalf of the owner.

June 18, 2020

Development Illinois Industrial Midwest

Meridian Design Build Completes Construction of 358,879 SF Spec Industrial Building in Chicago

by Kristin Harlow June 18, 2020

CHICAGO — Meridian Design Build has completed construction of a 358,879-square-foot speculative industrial building in the city of Chicago. NorthPoint Development was the developer. The new facility sits on a 31.2-cre site. StudioNorth Architecture and Jacob & Hefner Associates made up the project team. Meridian and NorthPoint worked together to maximize participation by businesses owned by minorities and women for the project. The new building is the first within NorthPoint’s $164 million, 200-acre Avenue O Industrial Park. The park is a redevelopment of the Republic Steel site that has been vacant for more than two decades. Plans call for 2.3 million square feet of industrial development.

June 18, 2020

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