Industrial

Bridge Development Partners to Redevelop Industrial Park in Waukegan, Ill.

by Danielle Everson March 11, 2015

WAUKEGAN, ILL. — Bridge Development Partners LLC is redeveloping the former 225-acre Cardinal Health Inc. campus in Waukegan. The industrial park is located at Waukegan Road. The site can accommodate up to 2.8 million square feet of industrial facilities. The campus lies between Route 137/Buckley Road and Route 120/Belvidere Road, immediately off I-94. The project is a joint venture of Bridge Development Partners, Hunt Realty Investments, Wanxiang America Real Estate Group and Globe Corp. Bridge will begin demolition of existing structures and commence park infrastructure work immediately. Phase I will consist of two speculative facilities totaling 625,600 square feet and 400,500 square feet, which will be available for delivery by the fourth quarter of this year. In addition to the first phase of development, the park will feature approximately 100 acres of land, with sites that can accommodate industrial facilities ranging from 40,000 to 1 million square feet. Dublin, Ohio-based Cardinal Health sold the property. The park was founded by American Hospital Supply in the late 1960s and was previously home to Baxter Healthcare and Allegiance Healthcare prior to Cardinal’s acquisition. CBRE’s Keith Puritz, Brett Kroner, Zach Graham and Ryan Bain were the sole brokers in the transaction.

March 11, 2015

Industrial Midwest Minnesota

Opus to Develop Spec Industrial Office/Warehouse Building in Brooklyn Park, Minn.

by Danielle Everson March 3, 2015

BROOKLYN PARK, MINN. — The Opus Group plans to develop a 145,800-square-foot speculative industrial office and warehouse facility in Brooklyn Park. The new property will be located at the intersection of 85th Avenue and Wyoming Avenue North. The building will be conducive for single or multi-tenant occupancy. Construction of the facility will begin in May and completion is scheduled for this fall. Opus Development Co. and Founders Properties will own the property. Opus Development Co. will be the project’s developer. Opus Design Build is the design-builder for the project and Opus AE Group is the architect and engineer of record. Cushman & Wakefield/NorthMarq will market the property for lease.

March 3, 2015

Illinois Industrial Midwest

I.M. Construction Group Completes 40,000 SF Build-Out for Dreamworks in Glenview, Ill.

by Danielle Everson February 27, 2015

GLENVIEW, ILL. — I.M. Construction Group has completed a 40,000-square-foot build-out for Dreamworks Graphics Communications in Glenview. The property is located at 2323 Ravine Way. Dreamworks is a print solutions company that provides offset, UV and lenticular printing. The firm is relocating its presses to this location from its current facility in Skokie, Ill. The build-out included the construction of a pre-press room and printing control room. IMCG also built-out office space with private offices and open work areas as well as completed all necessary electrical work, painting and finishes throughout. IMCG provided the construction services for the relocation along with Nomellini and Project Manager Kent Nepras leading the construction team. Angelo Christopher served as the project superintendent. Gensberg Ltd. provided the architectural services.

February 27, 2015

Industrial Market Reports Texas Texas Market Reports

McAllen Industrial Market Recovering at a Steady Pace

by Haisten Willis February 27, 2015

There is no denying that most, if not all, industrial markets across Texas were exposed to the economic effects of the “Great Recession.” McAllen and the Rio Grande Valley of Texas were no different. However, today Texas markets are again thriving with activity and occupancy above recession-contracted rates. Trends for McAllen—the seventh largest industrial market in Texas—are following suit. Economic The McAllen-Edinburg-Mission metropolitan statistical area (MSA) has evolved as a vital part of the dynamic Rio Grande Valley in south Texas. Once a rural and agricultural region, the area is now one of the fastest growing in Texas, fueled by accelerated population growth, economic development and a booming neighboring industrial market in north-central and northeastern Mexico. Data from the U.S. Census Bureau show that the McAllen MSA, also defined as Hidalgo County, has almost tripled in population since 1980, from 283,323 to 815,996 in 2013. Likewise, an overall Metro Business Cycle Index produced by the Federal Reserve Bank of Dallas places the McAllen MSA as the second most improved metropolitan area in Texas and first among the border markets, relative to its own base since 1980. The index, which summarizes the broad movements in nonagricultural employment, the unemployment rate, real …

February 27, 2015

Illinois Industrial Midwest

Paine/Wetzel TCN Worldwide Arranges 7,000 SF Industrial Lease in Bensenville, Ill.

by Danielle Everson February 25, 2015

BENSENVILLE, ILL. — Paine/Wetzel TCN Worldwide has arranged a 7,000-square-foot industrial lease in Bensenville. Ary Trucking LLC will occupy space within a 14,000-square-foot building located at 401 Frontier Way. The new lease represents an expansion and new location for the Northbrook-based general freight tucking company. Joe Karmin of Transwestern represented the building’s owner. Phil Reiff and Phil Reiff Jr. represented Ary Trucking LLC.

February 25, 2015

Illinois Industrial Midwest

HSA Commercial Arranges 48,000 SF Industrial Lease in Bolingbrook, Ill.

by Danielle Everson February 24, 2015

BOLINGBROOK, ILL. — HSA Commercial Real Estate has arranged the lease of a 48,024-square-foot industrial building in Bolingbrook. Forest Envelope Co., a manufacturer and printer of specialty envelope products, will occupy space located at 309 East Crossroads Parkway. The fully air conditioned facility is located near the interchange of Bolingbrook Drive and I-55, and is just west of I-355. Forest Envelope Co. is relocating its operations from its current 23,000-square-foot building in Lisle, Ill. Timothy Thompson of HSA Commercial Real Estate represented building ownership. Mark Moran of NAI Hiffman represented Forest Envelope Co.

February 24, 2015

Arizona Industrial Market Reports Western Western Market Reports

E-Commerce Bolsters Phoenix’s Industrial Market

by Nellie Day February 24, 2015

Before raising the curtain on 2015, it is important to understand how the stage has been set. The Phoenix industrial sector continues to build for changes in the market. Local and national developers delivered 6.3 million square feet of speculative industrial warehousing in the market last year, primarily due to big box projects. While most of these projects were in the Southwest Phoenix submarket, we have seen construction in the Sky Harbor and Southeast Valley submarkets as well. The national economy continues to improve slowly, and while activity levels during the numerous projects have been steady, closed deals for large blocks of space continue to be elusive. Although net absorption was positive by the end of last year, lease transaction volumes were mostly in the 50,000 to 200,000 square feet range. This prompted developers to modify their efforts by offering to divide their big boxes to accommodate partial building tenants, where prior expectations were geared toward single-tenant, full-building occupancy. There were still several big box projects under construction by the end of last year. This includes projects by Wentworth Properties, Trammel Crow/Clarion Partners, Conor Commercial, Hillwood and several other projects in shovel-ready position. Those ready to break ground include Prologis, …

February 24, 2015

Illinois Industrial Midwest

Opus Group, USAA Real Estate Co. Arrange Lease of I-88 Gateway Logistics Center

by Danielle Everson February 13, 2015

NORTH AURORA, ILL. — The Opus Group and USAA Real Estate Co. have arranged the lease of a 604,565-square-foot warehouse building in North Aurora. Midwest Warehouse & Distribution System Inc. has signed a long-term lease agreement at the I-88 Gateway Logistics Center. Construction on the speculative industrial building was completed in October 2014. The property is located on 32 acres of land and features 32-foot clear heights, 60 docks, 103 trailer parking spaces, an ESFR sprinkler system and T5 lighting. Midwest Warehouse provides third-party logistics including warehouse and distribution services for companies across the Midwest. The company plans to move into the building during the second quarter. Opus Development Co. was the developer, Opus Design Build was the design-builder, and Opus AE Group was the architect and engineer of record for the project. USAA Real Estate Co. owns the building. Tim Thompson of HSA Commercial Real Estate represented Midwest Warehouse. Brandon Kelly and Todd Heine of Avison Young were the listing brokers.

February 13, 2015

Industrial Market Reports Texas Texas Market Reports

Bell Helicopter Projects Lead the Way for Continued Growth in Amarillo

by Haisten Willis February 13, 2015

The Amarillo Economic Development Corp. (EDC) is celebrating its 25th anniversary this year and it’s amazing to compare the state of our local economy in 1989 to today. Back then, Amarillo’s unemployment rate was higher than the national average and consumer activity was in a state of decline. What job opportunities did exist in Amarillo in the late 1980s were in a limited number of industry sectors. We were in a state of economic inertia. I joined the Amarillo EDC twenty years ago and thus have been able to witness and participate in the transformation that has followed. Legislation allowing the establishment of a local economic development sales tax, enacted in Texas in 1989, was overwhelmingly adopted by Amarillo voters that fall. Early on, that economic development sales tax revenue stream brought us about $6 million per year. Next year we expect those revenues will approach $18 million. That statistic alone is testament to the extent Amarillo’s economy has grown in 25 years. As Texans, we’ve been fortunate to have the nation’s strongest economy for several years and Amarillo has definitely contributed, having engaged in projects with companies like Tyson, AIG, Blue Cross Blue Shield and Atmos Energy. One of …

February 13, 2015

Illinois Industrial Midwest

Wimmer Transportation Signs 17,280 SF Lease at Park 355 in Woodridge, Ill.

by Danielle Everson February 12, 2015

WOODRIDGE, ILL. — HSA Commercial Real Estate has arranged a lease for Wimmer Transportation Services. The Chicago-based trucking and freight delivery company has signed a long-term lease to occupy 17,280 square feet at the newly-completed second phase of Park 355 in Woodridge. The lease is the first at the 180,480-square-foot warehouse facility located along I-355 at 2143 Internationale Pkwy. HSA Commercial, in partnership with Denver-based Industrial Income Trust Park, developed the second phase at Park 355. The property features 30-foot clear ceiling heights, frontage on I-355, an ESFR sprinkler system, 49 exterior truck docks and four drive-in doors. The new 180,480-square-foot distribution center is divisible to 17,280-square-foot suites to accommodate smaller industrial tenants. Timothy Thompson of HSA Commercial Real Estate represented ownership in the lease transaction. Josh Hearne of Cawley Chicago represented Wimmer Transportation Services.

February 12, 2015

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