Industrial

Philipsborn Arranges $4M Refinancing Loan for Distribution Center in Metro Houston

by John Nelson February 6, 2020

STAFFORD, TEXAS — The Philipsborn Co., a Chicago-based mortgage banking firm, has arranged a $4 million loan for the refinancing of a distribution center located at 4030 Bluebonnet Drive in Stafford, about 15 miles southwest of Houston. Built in 1983, the 66,336-square-foot warehouse is situated on 4.1 acres and features 24- to 26-foot clear heights, four exterior loading docks, nearly 10,000 square feet of finished office space and 2,628 square feet of refrigerated space. The facility is leased on a long-term basis to a national specialty food distributor. David Kubert of Philipsborn arranged the 15-year, fixed-rate loan through Ameritas Life Insurance Co. on behalf of the borrower, a private investor.

February 6, 2020

Acquisitions Industrial Iowa Midwest Self-Storage

Marcus & Millichap Arranges $5.5M Sale of Self-Storage Facility in Cedar Rapids

by Kristin Harlow February 6, 2020

CEDAR RAPIDS, IOWA — Marcus & Millichap has arranged the sale of an 83,286-square-foot self-storage facility known as Cedar Storage in Cedar Rapids for $5.5 million. The property includes 374 units as well as RV and boat storage. It is located at 804 Vernon Valley Drive. Britney Hendricks and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, an individual trust. The team also represented the buyer, a private investor.

February 6, 2020

Acquisitions Illinois Industrial Midwest

Venture One Buys 37,092 SF Industrial Building in Romeoville, Illinois

by Kristin Harlow February 6, 2020

ROMEOVILLE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has purchased a 37,092-square-foot industrial building in Romeoville for an undisclosed price. Built in 1990, the property is located at 1319 Marquette Drive, approximately 30 miles southwest of Chicago. It features one exterior dock, three drive-in doors and parking for 135 cars. At the time of sale, the building was fully leased to one tenant. Ryan Klink of Cushman & Wakefield represented Venture One in the transaction.

February 6, 2020

Indiana Industrial Market Reports Midwest Midwest Market Reports

Indianapolis Caps Off Record-Setting 2019 in Industrial Market

by Kristin Harlow February 6, 2020

The Indianapolis industrial market somehow heated up even more throughout 2019, setting several all-time records along the way and setting the table for another strong year in 2020. Landlords and tenants showed just how strong the market remained throughout 2019, with absorption across all industrial property types besting its previous record by nearly a third. A total of 11.4 million square feet was absorbed throughout the market in 2019. That blew away what was a record at the time — 8.9 million square feet absorbed in 2018. Tenants were active all throughout the market, with 17.3 million square feet of space leased over the course of the year. That’s up from just under 14 million square feet that had been leased in 2018. While all sectors of the market attracted plenty of attention, the southwest and northwest Indianapolis markets saw the most action, with 5.3 million square feet leased in the southwest, and another 5 million square feet leased in the northwest. The activity applied to both small and large tenants, with new projects all over the metro leasing up quickly. The city’s largest deal was a 933,000-square-foot lease to Energizer at Franklin Tech Park within a year of Sunbeam …

February 6, 2020

Development Industrial South Carolina Southeast

Equus Breaks Ground on 373,100 SF Spec Industrial Building Near Inland Port Dillon in South Carolina

by Alex Tostado February 5, 2020

DILLON COUNTY, S.C. — Equus Capital Partners Ltd. has broken ground on 95 Inland Port Logistics Center, a speculative 373,100-square-foot industrial building in Dillon County along Interstate 95. The property is situated less than a mile from Inland Port Dillon and about five miles from the North Carolina-South Carolina border. The facility will be constructed using precast concrete panels and feature 32-foot clear heights, energy-efficient LED interior lighting, 7-inch concrete floors, 50- by 50-foot column spacing and an ESFR sprinkler system. 95 Inland Port Logistics Center will be a 410-foot deep, single-side loaded building with a 180-foot deep truck court that will include excess trailer parking separate from the loading docks. The Philadelphia-based developer expects to deliver the warehouse in October. Bob Barrineau and Brendan Redeyoff of CBRE along with Drew Chaplin of Palmetto Commercial Real Estate will handle leasing efforts and target both single- and multi-tenant users. BPG Development Co. LP, Equus’ development operating arm, will oversee development and construction.

February 5, 2020

Acquisitions Industrial Midwest Nebraska

Papillion Foods Acquires 535,000 SF Former Shopko Distribution Center in Papillion, Nebraska

by Kristin Harlow February 5, 2020

PAPILLION, NEB. — Papillion Foods has acquired a 535,000-square-foot former Shopko distribution center in Papillion for an undisclosed price. The 80-acre property is located in the Sarpy West Industrial submarket of Omaha. The facility was originally built for Shopko in 2000 and expanded in 2004. Shopko vacated the property in early 2019. Denny Sciscoe and Mike Earl of Cushman & Wakefield/The Lund Co. represented the seller, LCN Capital Partners, which purchased the facility in 2015. Brian Fogelberg and Emily Claridge of Transwestern represented the buyer. Wisconsin-based Shopko, an apparel and home goods retailer, closed all of its stores in mid-2019.

February 5, 2020

Colorado Development Industrial Western

Hyde Development, Mortenson to Build 2.2 MSF HighPoint Logistics Park Near Denver International Airport

by Amy Works February 5, 2020

AURORA, COLO. — Hyde Development and Mortenson have purchased an undeveloped, 125-acre land parcel located along E-470 at 64th Avenue in Aurora. The partnership plans to develop HighPoint Logistics Park, a 2.2 million-square-foot industrial park, at the site, which is near Denver International Airport. HighPoint Logistics Park will feature eight buildings with a mix of cross-dock, front-park and rear-load warehouse product. Additionally, the park will be located in three economic benefit zones: Federal Opportunity Zone; Adams County, Colo., Enterprise Zone; and Limon Foreign Trade Zone. These distinctions allow for significant tax credits to encourage job creation and investments by businesses. Construction is scheduled to begin before the end of this year. CBRE’s Tyler Carner, Jeremy Ballenger and Jessica Ostermick represented the seller, Westside Investment Partners. Todd Witty and Daniel Close, also of CBRE, represented the buyers in the deal.

February 5, 2020

Acquisitions Connecticut Industrial Northeast

Angel Commercial Arranges Sale of 40,809 SF Industrial Property in Milford, Connecticut

by Alex Patton February 5, 2020

MILFORD, CONN. — Angel Commercial LLC has arranged the $4.2 million sale of a 40,809-square-foot industrial property in Milford, a western suburb of New Haven. Located at 230 Old Gate Lane, the property offers immediate access to Interstate 95. The buyer, 230 Old Gate Lane LLC, plans to redevelop the property as a truck dealership. Jon Angel of Angel Commercial LLC represented 230 Old Gate Lane LLC in the transaction. Angel also represented the seller, CLS Milford LLC.

February 5, 2020

Industrial Loans Self-Storage Washington Western

Talonvest Negotiates $13.8M Refinancing for Self-Storage Facility in Seattle

by Amy Works February 5, 2020

SEATTLE — Talonvest Capital has secured a $13.8 million permanent loan on behalf of Catalyst Storage Investors for West Coast Self-Storage in Seattle. A CMBS lender funded the non-recourse, 10-year, fixed-rate, full-term, interest-only financing. The loan is secured by a Class A self-storage asset located at 3736 Rainier Ave. South in Seattle. Developed in 2014 by the borrower, the facility features 851 climate-controlled units and 64,689 net rentable square feet. Kim Bishop, Jim Davies, Tom Sherlock, David DiRienzo and Lauren Maehler of Talonvest arranged the financing.

February 5, 2020

Industrial Leasing Activity Texas

Amazon Signs 419,626 SF Industrial Lease at Eastpoint Distribution Center in East Dallas

by John Nelson February 4, 2020

DALLAS — Amazon has signed a 419,626-square-foot, 10-year industrial lease at Eastpoint Distribution Center, located at 8901 Forney Road in east Dallas. Freight company Shippers most recently occupied the rail-served property, which also offers proximity to Interstates 30 and 635. Matt Dornak and Ryan Wolcott of Stream Realty Partners represented the landlord, Dalfen Industrial, in the lease negotiations. Ryan Keiser and Dan Mulford of CBRE represented Amazon. The Seattle-based e-commerce giant will utilize an onsite 12-acre parcel for van, truck and car parking, according to Dalfen Industrial.

February 4, 2020

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