Industrial

PCCP, Panattoni to Develop 328,000 SF Spec Industrial Building in Cartersville, Georgia

by Alex Tostado January 7, 2020

CARTERSVILLE, GA. — PCCP LLC has formed a joint venture with Panattoni Development Co. Inc. for the speculative development of a 328,000-square-foot industrial building in Cartersville, 51 miles northeast of Atlanta. The project is located directly off Interstate 75 in Bartow County. PCCP and Panattoni recently acquired the 104-acre site that allows for the development of up to 724,000 square feet across two buildings. Two buildings are planned for two separate phases of development. PCCP and Panattoni expect to deliver the first facility, a rear-load building with 32-foot clear heights, in the third quarter. Mike Chambers, Jack Haden and Kane Chambers of NAI Brannen Goddard are leading the leasing effort of the property.

January 7, 2020

Industrial Leasing Activity Midwest Missouri

Distribution Management Signs 375,200 SF Industrial Lease in St. Peters, Missouri

by Kristin Harlow January 7, 2020

ST. PETERS, MO. — Distribution Management Inc. has signed an industrial lease to occupy an entire 375,200-square-foot warehouse within Premier 370 Business Park in St. Peters. The building is situated at 1001 Premier Parkway, about 30 miles west of St. Louis. The landlord and developer, Duke Realty Corp., has now completed the lease-up of the five buildings within the 2.5 million-square-foot park. Art Leichner and Andrew Crites of Newmark Knight Frank along with Kevin McLaughlin and Dan Lesinski of Newmark Grubb Zimmer represented the tenant in the lease transaction. Geoff Orf of Colliers International served as the property’s listing agent. Distribution Management is an imaging supplies distributor and order fulfillment company.

January 7, 2020

Acquisitions Illinois Industrial Midwest

Stream Capital Partners Brokers $16.8M Sale-Leaseback of Industrial Facility in Buffalo Grove, Illinois

by Kristin Harlow January 7, 2020

BUFFALO GROVE, ILL. — Stream Capital Partners LLC has brokered the sale-leaseback of a 161,976-square-foot industrial facility in Buffalo Grove for $16.8 million. The property, occupied by Safco Dental Supply Co., is located at 1111 Corporate Grove Drive. Chelsea Mandel and Phil DiGennaro of Stream represented Safco, a national distributor of dental supplies, in the sale. A REIT acquired the property and simultaneously entered into a long-term lease agreement with Safco.

January 7, 2020

Industrial Leasing Activity New Jersey Northeast

Modell’s Sporting Goods Signs 312,373 Industrial Lease in Bordentown, New Jersey

by Alex Patton January 6, 2020

BORDENTOWN, N.J. — Modell’s Sporting Goods has signed a 312,373-square-foot industrial lease in Bordentown, a southeastern suburb of Trenton. The retailer will house its logistics and distribution operations at the facility, which is located at 201 Old York Road. Bill Waxman, Mindy Lissner and Steven Beyda of CBRE worked with Brett Weinblatt of Compass Commercial to represent Modell’s in the lease negotiations. Matrix Development owns the facility.

January 6, 2020

Development Georgia Industrial Southeast

Lidl to Develop $100M Distribution Center in Covington, Georgia

by Alex Tostado January 6, 2020

COVINGTON, GA. — German discount grocer Lidl plans to develop its fourth U.S. distribution center in metro Atlanta. The project will span 925,000 square feet and cost $100 million to build. The center will be located in Covington and will also serve as the company’s regional headquarters. Covington is situated along Interstate 20 and 35 miles southeast of downtown Atlanta. The new facility will house 270 full-time employees over the next five years. A timeline for construction as well as details about the design team were not disclosed. Lidl has opened four stores in Georgia and has hired more than 150 employees in Augusta, Mableton, Marietta and Snellville. Lidl first established its U.S. headquarters in Virginia in June 2015. Today the grocer operates more than 85 stores across nine East Coast states. Lidl’s other three distribution centers are in Fredericksburg, Va.; Graham, N.C.; and Perryville, Md.

January 6, 2020

Industrial Loans Michigan Midwest

Bernard Financial Group Arranges $8.5M Refinancing for Industrial Property in Romulus, Michigan

by Kristin Harlow January 6, 2020

ROMULUS, MICH. — Bernard Financial Group has arranged an $8.5 million loan for the refinancing of a 139,733-square-foot industrial property in Romulus, about 25 miles southwest of Detroit. Dan Duggan of Bernard arranged the loan with the life insurance company Aegon. The borrower was DNM Industrial Park LLC.

January 6, 2020

Acquisitions Industrial Midwest Missouri

Colliers Brokers Sale of 37,500 SF Industrial Building in O’Fallon, Missouri

by Kristin Harlow January 6, 2020

O’FALLON, MO. — Colliers International has brokered the sale of a 37,500-square-foot industrial building in O’Fallon, about 37 miles northwest of St. Louis. The sales price was undisclosed. Permian Plastics, a manufacturer of plastic injection molding, occupies the property, which is located at 1477 Hoff Industrial Drive. Chad Burkemper, Joseph Hill and Geoff Orf of Colliers represented the seller, Permian Holdings Inc. The buyer was GK2-Hoff LLC.

January 6, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 28,339 SF Industrial Facility in Irving

by John Nelson January 6, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Walnut Hill Business Park II, a 28,339-square-foot industrial building located at 1600 Corporate Court in Irving. Built in 1982, the property is situated on two acres about 13 miles west of Dallas. The buyer and seller were both private investors. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction.

January 6, 2020

Industrial Leasing Activity Oklahoma Texas

CBRE Arranges 56,000 SF Industrial Lease in Oklahoma City

by John Nelson January 6, 2020

OKLAHOMA CITY — CBRE has arranged a 56,000-square-foot industrial lease at 3100 N. Meridian Ave. in Oklahoma City. The tenant, Made by Influence LLC, leased the space from landlord USA Prop Management LLC. Randy Lacey of CBRE’s Oklahoma City office represented the landlord in the lease negotiations.

January 6, 2020

Acquisitions Industrial Texas

Stonelake Capital Partners Buys 18-Building Industrial Portfolio in Austin

by John Nelson January 3, 2020

AUSTIN, TEXAS — Stonelake Capital Partners has closed on the purchase of an 18-building industrial portfolio in Austin totaling nearly 530,000 square feet. The seller was the McWane Family of Cos., an iron products manufacturer based in Birmingham, Ala. Stonelake Capital purchased the portfolio for an undisclosed price in an off-market transaction via its Stonelake Opportunity Partners V LP fund. Stonelake Capital is now one of the largest industrial landlords in Austin, with a 25-building portfolio spanning more than 850,000 square feet. Travis Eickenhorst and Cole Wilson lead the company’s Austin investment strategy.

January 3, 2020

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