Property Type

Binswanger Brokers Sale of 310,000 SF Industrial Building in Upstate South Carolina

by Camren Skelton February 14, 2018

LIBERTY, S.C. — Binswanger has brokered the sale of a 310,000-square-foot industrial facility located at 7240 Moorefield Memorial Highway in Liberty, a city in Upstate South Carolina. The single-story building is located roughly 17 miles west of Greenville and 35 miles from the Greer Inland Port. Doug Faris and Shaun Kirchin of Binswanger arranged the transaction on behalf of the buyer, Eliken Property Management LLC. Kidco Liberty LLC sold the property for an undisclosed price. Eliken plans to renovate the property to attract new tenants or investors.

February 14, 2018

Industrial Self-Storage Southeast Tennessee

Platinum Storage Group to Develop 828-Unit Self-Storage Facility in Metro Nashville

by Camren Skelton February 14, 2018

BRENTWOOD, TENN. — Platinum Storage Group has unveiled plans to develop Brentwood Self Storage, an 828-unit, 120,000-square-foot self-storage facility in Brentwood, roughly 10 miles south of Nashville. The property is situated on 2.8 acres at the intersection of Old Hickory Boulevard and Cloverland Drive. The storage facility will feature climate-controlled units, 24/7 surveillance, automatic door locks, individually alarmed units, electronic secured floor access and Wi-Fi throughout. Construction on the building is scheduled to begin in March.

February 14, 2018

Industrial Loans Nevada Top Stories Western

BKM Capital Partners Buys 13-Building Industrial Complex in Las Vegas for $92M

by Nellie Day February 14, 2018

LAS VEGAS — BKM Capital Partners has purchased Hughes Airport Center, a 13-building, multi-tenant industrial complex in Las Vegas, for $92 million. The properties are situated in the industrial pocket between McCarran International Airport and interstates 15 and 215. Hughes Airport Center contains 3.3 million square feet of Class A industrial space and Class B office space. The 420-acre, master-planned business park has access to nearby retail and entertainment amenities like Town Square shopping center, Las Vegas Premium Outlets South, Tahiti Village, Callaway Golf Center, Bali Hai Golf Club and Sunset Park. The business park has recently undergone a slew of improvements, including new paint to building exteriors, asphalt and parking lot repairs, roof repair, and upgraded landscaping, monument signage and tenant signage. Rents at Hughes Airport Center typically range between $0.90 per square foot and $1.30 per square foot. Notable tenants at the center include Geotab, CanvasPop, Medical Transportation Management, Climatec, Credit One Bank, North American Video, LabCorp of America and Harman International. Hughes Airport Center marks BKM’s fifth industrial park acquisition in the Las Vegas Valley. “This is a best-in-class asset, the largest of its scale in the Las Vegas airport submarket and our firm’s biggest transaction to …

February 14, 2018

Conference Coverage Features Retail Top Stories

Activation Is a Top Priority for Entertainment Destinations, say EEE Panelists

by Taylor Williams February 14, 2018

SANTA MONICA, CALIF. — E-commerce has claimed many victims in its siege of brick-and-mortar shopping, but perhaps none more so than big box retailers. As more of these spaces are vacated, demand for entertainment-based users to backfill them grows. Entertainment-themed tenants often require the same open-floor layouts and high ceiling heights that big box spaces offer. In addition, big boxes are typically found in malls and retail power centers, which have presumably been built in high-traffic and high-density locations. As such, entertainment tenants backfilling or building within a traditional retail development aren’t as reliant on “activation” of their sites to drum up business. But when you have a variety of entertainment tenants, including bars and restaurants, operating out of a single destination, it’s crucial to galvanize the property with events and programs. This was a trend discussed at the Entertainment Experience Evolution conference on Feb. 6-7 at Fairmont Miramar hotel in Santa Monica. A panel of professionals in the entertainment retail space discussed the role of activation in creating a “sense of place” at the conference, which more than 600 industry players attended. Moderator Nick Egelanian, president of SiteWorks Retail Real Estate Services, asked the other panelists to describe how …

February 14, 2018

Industrial Market Reports Northeast Northeast Market Reports Pennsylvania

Job Growth Bodes Well for Greater Philadelphia Market

by Taylor Williams February 14, 2018

Philadelphia’s office and industrial markets have been on a hot streak for the past year, with lower vacancy rates and greater rent growth than the national average. Office vacancies are enjoying far lower vacancy rates than regional and national averages for both Class A and Class B properties in the central business district and the suburbs. Flex and industrial vacancy rates are below 7 percent overall, well below regional and national averages, with average asking rents at about $5 per square foot. We see this upswing continuing in 2018 as demand keeps pace with or exceeds new development. Philadelphia has experienced seven years of uninterrupted job growth across all sectors, with 1.8 percent growth between August 2016 and August 2017 — outpacing the national average of about 1.5 percent, according to the U.S. Bureau of Labor Statistics. We saw job growth across the board, including the education, health, and leisure and hospitality sectors. But the biggest gain was in business and professional services, where Philadelphia added 16,700 jobs over 12 months. That represents a 3.6 percent year-over-year growth rate in high-end office jobs, compared to a national average of 3 percent. Manufacturing employment declined over the past 12 months, despite …

February 14, 2018