Industrial

CRG Delivers, Sells 1.3 MSF Distribution Center in Upstate South Carolina

by Alex Tostado January 24, 2020

DUNCAN, S.C. — CRG, Clayco’s real estate division, has delivered and sold a 1.3 million-square-foot distribution center within The Cubes at Inland 85 in Duncan. Situated less than two miles from Inland Port Greer, the facility was originally designed as a 500,280-square-foot speculative building but was expanded to fit the needs of the new tenant, an undisclosed Fortune 500 company. An affiliate of Lexington Realty Trust acquired the asset for an undisclosed price. The building features a cross-dock configuration with 36-foot clear heights and an ESFR sprinkler system. Lamar Johnson Collaborative designed the property, and Clayco served as the general contractor. CRG is the main developer of The Cubes. This is the first building to be delivered within The Cubes.

January 24, 2020

Development Industrial Maryland Southeast

Kroger, Ocado to Open 350,000 SF Customer Fulfillment Center in Suburban Maryland

by Alex Tostado January 24, 2020

FREDERICK, MD. — The Kroger Co. and Ocado, an online grocer based in England, will develop a 350,000-square-foot customer fulfillment center in Frederick. The new automated warehouse facility will service several nearby markets such as Baltimore, Philadelphia and Washington, D.C. When fully operational, the facility will house 400 employees and feature digital and robotic capabilities. The site is located at 7106 Geoffrey Way, 55 miles west of downtown Baltimore and 65 miles north of downtown D.C. The companies expect the facility to open 24 months after groundbreaking, a timeline for which was not disclosed.

January 24, 2020

Development Florida Industrial Southeast

Seefried, MDH Partners Purchase 20 Acres in East Orlando to Construct Two-Building Industrial Property

by Alex Tostado January 24, 2020

ORLANDO, FLA. — Seefried Industrial Properties and MDH Partners LLC have purchased 20 acres in east Orlando to construct Narcoossee Logistics Center, a two-building industrial campus. The first building will span 160,000 square feet and the second will total 120,000 square feet. Both buildings will feature 32-foot clear heights, 130-foot concrete truck courts, an ESFR sprinkler system and a combined 71 dock high doors. The site is situated near State Road 528 and Narcoossee Road, about five miles east of Orlando International Airport. MacGregor Associates is the project architect, and Kimley Horn is the civil engineer. Lee Morris of Colliers International will lead leasing efforts for the project, which is slated for completion by the end of the year.

January 24, 2020

Acquisitions Industrial Self-Storage Texas

SkyView Advisors Brokers Sale of 278-Unit Regal Self Storage Facility in Metro Houston

by Taylor Williams January 24, 2020

SPRING, TEXAS — Tampa-based SkyView Advisors has brokered the sale of Regal Self Storage, a 278-unit facility located in the northern Houston suburb of Spring. The property is situated on 1.8 acres and features 43,025 net rentable square feet. Zack Urow and Ryan Clark of SkyView Advisors represented the seller in the transaction. The buyer and other terms of sale were not disclosed.

January 24, 2020

Acquisitions Industrial Texas

Marcus & Millichap Negotiates Sale of 36,008 SF Industrial Building Near Fort Worth

by Taylor Williams January 24, 2020

HURST, TEXAS — Marcus & Millichap has negotiated the sale of a 36,008-square-foot industrial building leased to Delta Rigging & Tools in Hurst, a northeastern suburb of Fort Worth. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

January 24, 2020

Illinois Industrial Leasing Activity Midwest

ShipFusion Signs 381,600 SF Industrial Lease in Suburban Chicago

by Kristin Harlow January 24, 2020

CAROL STREAM, ILL. — ShipFusion Inc. has signed a 381,600-square-foot industrial lease at 365 E. North Ave. in Carol Stream, a suburb of Chicago. The warehouse will serve as the e-commerce fulfillment company’s new U.S. flagship operation. The Chicago-based company provides proprietary inventory management software and a wide range of fulfillment services. Completed in 2017 on a speculative basis, the Class A facility features 40,000 square feet of temperature-controlled space, 8,500 square feet of office space as well as a clear height of 36 feet. Doug Pilcher and Jason West of Cushman & Wakefield represented ShipFusion in the lease transaction. David Prell and Kevin Segerson of CBRE represented the landlord, Link Industrial Properties.

January 24, 2020

Industrial Leasing Activity Midwest Wisconsin

Rust-Oleum Leases 102,000 SF of Industrial Space in Pleasant Prairie, Wisconsin

by Kristin Harlow January 24, 2020

PLEASANT PRAIRIE, WIS. — Rust-Oleum has leased 102,000 square feet of industrial space at 10100 Jelly Belly Lane in Pleasant Prairie. The owner, Jelly Belly Candy Co., will continue to occupy the remaining 132,000 square feet within the building. Kevin Barry and David Buckley of The Barry Co. brokered the lease transaction. Rust-Oleum, a manufacturer of protective paints and coatings, will use the space for its warehouse and distribution operations.

January 24, 2020

Acquisitions Colorado Industrial Western

CWCapital, Kenai Capital Buy Three-Building Industrial Portfolio in Colorado for $41M

by Amy Works January 24, 2020

ENGLEWOOD, COLO. — A joint venture between CWCapital and Kenai Capital Advisors has acquired a three-building industrial portfolio in the Compark Business Park in Englewood. Hendricks Commercial Properties sold the portfolio for $41 million. The 263,734-square-foot portfolio includes 8560 Upland Drive, 8490 Upland Drive and 14800 Grasslands Drive. While the portfolio was fully occupied at the time of closing, the building at 14800 Grasslands Drive is now available for immediate lease or sale. The 50,488-square-foot Class A industrial manufacturing building features heavy power, large drive-in doors, dock loading, 24-foot ceiling clearance, ESFR fire sprinklers, available outdoor yard space and the ability to add additional loading. The two buildings on Upland Drive are fully occupied by a variety of tenants, including Charter Communications, Quantum Corp. and LabCorp. The facilities each feature 24-foot ceiling heights, ESFR fire sprinklers, heavy power and customization for each tenant’s specifications. Jeremy Ballenger of CBRE represented the seller, while Tyler Reed, Peter Beugg and Dominic DiOrio of Stream Realty represented the buyer in the transaction.

January 24, 2020

Acquisitions Industrial Loans Office Washington Western

Continental Partners Arranges $18.7M in Acquisition Financing for Flex Property Near Seattle

by Amy Works January 24, 2020

REDMOND, WASH. — Los Angeles-based Continental Partners has arranged $18.7 million in financing for the acquisition of Redmond Heights Center, an industrial/office flex property in Redmond, a suburb of Seattle. The borrower, ALCO Investment Co., acquired the 126,545-square-foot asset from Wakefield Redmond Heights. At the time of sale, the property was fully leased to 13 tenants. The 10-year, non-recourse loan has a fixed rate of 3.25 percent with a 30-year amortization schedule and step-down prepayment option. Carl Riggins of Continental Partners secured the permanent financing for the borrower.

January 24, 2020

Acquisitions Industrial Midwest Ohio

Stan Johnson Co. Negotiates $16.8M Sale of Distribution Facility in Findlay, Ohio

by Kristin Harlow January 23, 2020

FINDLAY, OHIO — Stan Johnson Co. has negotiated the sale of a single-tenant, 402,604-square-foot distribution facility in Findlay for $16.8 million. The warehouse is fully leased to American Plastics, a designer, manufacturer and distributor of plastic-injection molded products. It is located at 14801 County Road 212. Originally built in 1998, the property sits on 24 acres and features a clear height of 28 feet, 44 dock doors and a fenced truck court. Rob Gemerchak and Jeff Hughes of Stan Johnson represented the seller, local developer Nickolas LLC. Plymouth Industrial REIT Inc. purchased the asset.

January 23, 2020

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