GlobeSt.com - Industrial

Harrisburg PA Multifamily Portfolio Trades for $50M

John Jordan, staff — Thu, 1 Aug 2019 08:17:23 -0400

The Loketch Group will complete a like-kind exchange with the proceeds of the sale primarily with development opportunities in Brooklyn.

Turnpike Exit 8A Deals Spark Industrial Market Rebound

John Jordan, staff — Thu, 1 Aug 2019 07:43:12 -0400

Strong tenant demand has also caused rents to rise, with the overall average rent higher by 7.8% year-over-year, including 10 submarkets that record rent increases of more than 10% during that period.

Black Creek Group Plans Atlanta Industrial Park

Ingrid Tunberg, staff — Wed, 31 Jul 2019 10:04:43 -0400

The firm has acquired 53 acres for the 777,000SF, three-building industrial park in an Atlanta Northwest submarket.

Amazon to Open 1 Million SF Fulfillment Center Near Pittsburgh

John Jordan, staff — Wed, 31 Jul 2019 08:57:09 -0400

The new facility will be constructed by the Hillwood Group of Dallas and Chapman Properties of Leetsdale, PA. Amazon has committed to investing more than $30 million into the project, state officials note.

What Will the Cannabis Market Look Like in 12 Months?

Kelsi Maree Borland, contributor — Tue, 30 Jul 2019 04:00:23 -0400

As the industry continues to iron out the regulatory process, investment interest should grow.

CapRock Adds Papago Distribution Center to Phoenix Portfolio

Kelsi Maree Borland, contributor — Tue, 30 Jul 2019 04:00:18 -0400

The industrial investor partners with an institutional client to purchase the 226,000-square-foot distribution center.

South Bay Asset Trades at Record Price

Kelsi Maree Borland, contributor — Tue, 30 Jul 2019 04:00:13 -0400

The Laurel Park Commerce Center sells for $200 per square foot, the highest price in the South Bay market.

BKM Buys Massive Nevada Industrial Property for $111M

Kelsi Maree Borland, contributor — Tue, 30 Jul 2019 04:00:08 -0400

The 13-building property totals nearly 900,000 square feet, making it the firm’s largest acquisition to date.

NJ Light Industrial Portfolio Trades for Second Time in Less Than Two Years

John Jordan, staff — Mon, 29 Jul 2019 08:07:17 -0400

The Camber-Advance Realty venture sold the four-building complex totaling 529,110 square feet to a partnership comprised of Los Angeles-based Cohen Asset Management, Inc. and Intercontinental Real Estate Corporation of Boston.

New 133K in Leases Brings South Florida Industrial Complex to Full Occupancy

John Jordan, staff — Mon, 29 Jul 2019 05:36:33 -0400

Cushman & Wakefield reported six recent lease deals at the 318,062-square-foot complex, developed by Butters Construction & Development in Broward County, which consists of three buildings (Six, Seven and Eight).

Port of NY, NJ Solidifies Position as No. 2 US Port

John Jordan, staff — Fri, 26 Jul 2019 08:22:06 -0400

In June, the Port Authority predicted record activity levels at the Port of New York and New Jersey. On Thursday, the authority reported that during the first six months of 2019, the port set a new all-time record for cargo, handling 3,652,841 TEUs (20-foot equivalent units).

Harf Named to Lead Stan Johnson’s Chicago Office

John Jordan, staff — Fri, 26 Jul 2019 06:47:50 -0400

Harf joined Stan Johnson Co. of Tulsa, OK in October 2011 and has been focused on the sale of net lease assets, working with some of the nation’s most respected and trusted institutions, private equity managers and merchant developers.

‘Serial Entrepreneur’ Joins Colliers Life Sciences Team

John Jordan, staff — Thu, 25 Jul 2019 08:01:48 -0400

Brechner joins Colliers with more than 35 years of experience leading companies with revenues in excess of $10 million. For the past 20 years he led ventures within the analytical laboratory and quality assurance industry.

Transwestern Hired to Lease Cedar Knolls Industrial Property

John Jordan, staff — Thu, 25 Jul 2019 07:36:12 -0400

Constructed in 1987, Morristown North Commerce Center is a two-story property that spans 14 acres. It currently has 32,997 square feet of office/lab/cleanroom space and 14,322 square feet of office space available for lease.

BH Properties Increases Its Phoenix Footprint

Kelsi Maree Borland, contributor — Thu, 25 Jul 2019 04:00:01 -0400

The investor sees Phoenix as a strategic long-term investment market, and is looking to expand its portfolio.

Amazon Plans Ohio Expansion with Two Robotics Fulfillment Centers

John Jordan, staff — Wed, 24 Jul 2019 06:28:59 -0400

The two new fulfillment centers will be developed in Akron and Rossford and will each total approximately 700,000 square feet.

Land Offering May Well be California’s Current Largest

Lisa Brown, staff — Wed, 24 Jul 2019 04:00:30 -0400

Ashurst Ranch consists of 27,944 acres of deeded land spread across 118 parcels, together with 30,210 acres of Bureau of Land Management grazing leases split between two allotments.

Bonnie Lowenthal Elected New Harbor Commission President

Kelsi Maree Borland, contributor — Wed, 24 Jul 2019 04:00:15 -0400

The commission oversees the Port of Long Beach and the staff of the City’s Harbor Department.

Waller Industrial Park Ticks Many User Boxes

Lisa Brown, staff — Tue, 23 Jul 2019 22:00:09 -0400

Waller Industrial Park benefits from proximity to US Highway 290 and fast-growing northwest quadrant of Houston, and NRG Manufacturing chose the park for a manufacturing, testing and regional office.

DelCam to Launch OZ Fund Focused on Manufacturing Sector

John Jordan, staff — Tue, 23 Jul 2019 09:42:32 -0400

The management company’s first OZ fund— Opportunity Zone Fund I—has a target to raise $10 million from inventors and is set to launch in late 2019. The firm hopes to secure its first acquisition in January 2020.

NJEDA Launches Small Business Growth Initiative

John Jordan, staff — Tue, 23 Jul 2019 06:29:57 -0400

Under the Community Development Financial Institution initiative, the NJEDA will make up to $15 million available to CDFIs to expand their capacity to provide financing to New Jersey small businesses. Applications for the program are expected to be available in September 2019.

Appetite Strong But Cautious for Cannabis Real Estate

Kelsi Maree Borland, contributor — Tue, 23 Jul 2019 04:00:28 -0400

With the legalization of cannabis, there is a lot of excitement for new real estate uses, but there are still challenges to investing.

Air Reserve Base Trades Hands in IE

Kelsi Maree Borland, contributor — Tue, 23 Jul 2019 04:00:18 -0400

An industrial development is planned for the 10-acre site at the March Air Reserve Base in the Inland Empire.

Largest Industrial Land Deal YTD Ushers in Mega Park

Lisa Brown, staff — Mon, 22 Jul 2019 22:00:52 -0400

NorthPoint Development LLC nabbed the site located at US 90 and Uvalde Road where it plans to develop a 2.5 million-square-foot master-planned industrial park called NorthPoint 90 Logistics Center.

Colony Capital Sheds Inland Empire Portfolio

Kelsi Maree Borland, contributor — Mon, 22 Jul 2019 04:00:39 -0400

The four asset industrial portfolio trades hands for $105 million to Lincoln Property Co.

Northwestern Mutual Sells Industrial Complex for $128M

Kelsi Maree Borland, contributor — Mon, 22 Jul 2019 04:00:01 -0400

The Los Alamitos Corporate Center has 17 buildings on a 36.9-acre lot and is 98% leased.

14-Building Industrial Portfolio Finds New Owner

Lisa Brown, staff — Sun, 21 Jul 2019 22:01:14 -0400

A 341,252-square-foot 14-building industrial portfolio at 2700 Greens Rd. was recently sold by Aero Greensmor LP to an undisclosed buyer for an undisclosed price.

RealPage Analytics Touts 100% Data Visibility

Lisa Brown, staff — Sun, 21 Jul 2019 22:00:15 -0400

RealPage Market Analytics is a lease transaction-driven market research platform that reportedly provides 100% visibility into performance data that is critical to making investment decisions.

Philadelphia, Newark Score Well in Creating, Attracting Tech

John Jordan, staff — Fri, 19 Jul 2019 09:38:32 -0400

Newark, NJ is also emerging as a technology hub. CBRE reports that total tech occupations grew 9.7% from 2013 to 2018 in the City of Newark.

Tower Commercial Forms New Cannabis Division

John Jordan, staff — Fri, 19 Jul 2019 07:48:35 -0400

Tower CRE states that the launch of the new division was prompted by closing $50 million in cannabis-related retail and industrial transactions in the last 18 months with an additional $15 million in the pipeline that are expected to close by the end of this year.

Midwest Industrial Buys Batavia Industrial Property

John Jordan, staff — Fri, 19 Jul 2019 06:22:54 -0400

The firm purchased the 117,472-square-foot property from a national manufacturing company, according to brokerage firm Avison Young.

DTLA Multi-Story Industrial Leases for $27M

Kelsi Maree Borland, contributor — Fri, 19 Jul 2019 04:00:10 -0400

A prop house has leased a 250,000-square-foot industrial facility in Downtown Los Angeles.

Mark IV Buys 4,300 Acres of Land for Master Plan Community

Kelsi Maree Borland, contributor — Fri, 19 Jul 2019 04:00:00 -0400

The Northern Nevada-based industrial and commercial property will be rebranded as Victory Logistics District.

Ascenty Launches São Paulo Data Centers

Ingrid Tunberg, staff — Thu, 18 Jul 2019 13:15:54 -0400

The company will own 17 data centers in Latin America upon the four openings later this year.

Compass Datacenters Plans Up to $3B of New Campuses

Lisa Brown, staff — Thu, 18 Jul 2019 11:47:43 -0400

Compass Datacenters announced new growth initiatives to develop up to $3 billion in new data center campuses, along with continued support from RedBird Capital, Ontario Teachers’ and the introduction of Azrieli.

NJEDA Launches Competitive OZ Grant Program

John Jordan, staff — Thu, 18 Jul 2019 07:16:02 -0400

The State of New Jersey contains 169 Opportunity Zones, which span 75 municipalities across all 21 counties.

Goodman Buys Largest Industrial Sites in Los Angeles

Kelsi Maree Borland, contributor — Thu, 18 Jul 2019 04:00:30 -0400

The two industrial sites, which include the Boeing C-17 manufacturing facility, total 127 acres.

Colliers Says South Florida’s Industrial Market Fundamentals Strong Despite Signs of Moderation

John Jordan, staff — Wed, 17 Jul 2019 06:43:10 -0400

The industrial lease deals negotiated by the Colliers team, headed by Jonathan Kingsley and Stephen Rutchik, were valued at more than $36 million.

Laredo Spec Industrial Picks Good Time Amid Class-A Shortage

Lisa Brown, staff — Tue, 16 Jul 2019 22:00:09 -0400

Heavy demand for space in Laredo continues, particularly with those seeking more efficient space, better clear heights, ESFR fire protection, heavy trailer parking, which are included in a new spec build.

Expect West Coast Warehouse Development to Soar

Kelsi Maree Borland, contributor — Tue, 16 Jul 2019 14:00:47 -0400

The West Coast is leading the nation in warehouse development, and will continue, as long as there isn’t a trade war.

Prologis to Buy Industrial Property Trust for $4B

Erika Morphy, staff — Tue, 16 Jul 2019 07:05:42 -0400

Black Creek Group is the seller of the 37.5-million square foot portfolio, which is 96% leased.

Bridge Development Plans New Facility in Davie

Lidia Dinkova, staff — Tue, 16 Jul 2019 05:15:14 -0400

Bridge Development plans the three-building Bridge Point 595 industrial project on 34 acres.

How Much More Can North Bay Industrial Tighten?

Lisa Brown, staff — Tue, 16 Jul 2019 04:01:37 -0400

The industrial market has been in a tightening mode with space options dwindling even with construction in the pipeline, but buyer Scannell has experience with properties needing capital infusion.

What Fueled JLL’s Acquisition of HFF?

Lisa Brown, staff — Mon, 15 Jul 2019 22:00:15 -0400

In looking at opportunities to grow capital markets, JLL was clear that any target would need to closely align with its culture and strategic vision, and it is confident the acquisition of HFF meets these criteria.

Foreign Investors Ramp Up SoCal Industrial Spending

Kelsi Maree Borland, contributor — Mon, 15 Jul 2019 14:00:42 -0400

In the last two years, industrial purchases have accounted for more than half of all foreign investment in Orange County.

Teva Pharmaceuticals USA Acquires Three Buildings in West Chester, PA

John Jordan, staff — Mon, 15 Jul 2019 06:39:14 -0400

Its new holdings, along with 100, 200 and 300 Brandywine Parkway, which it already owned, increases its campus to approximately 314,000 square feet in West Chester.

Manufacturing Space Still Available in Manhattan’s Far West Side

Betsy Kim, staff — Fri, 12 Jul 2019 15:04:51 -0400

ABS Partners is marketing the 20,000 square-foot drive-in auto warehouse that’s close to Hudson Yards.

NJ’s Industrial Market Continues to be a Record-Breaker

John Jordan, staff — Fri, 12 Jul 2019 08:23:09 -0400

Of the total second quarter leasing activity, more than 4.5 million square feet—or two-third of all deals— took place in Central New Jersey.

Blackstone Entity Acquires Tampa Distribution Center for $69M

John Jordan, staff — Fri, 12 Jul 2019 06:44:51 -0400

High Street Realty Co. sold the property on Tampa’s Eastside for $69.5 million, according to Cushman & Wakefield.

Is it Okay to be Underestimated?

Natalie Dolce, staff — Fri, 12 Jul 2019 04:00:56 -0400

Panelists at GlobeSt. ELITE Woman of Influence conference discuss how they’ve reached their levels of success, share how the industry has changed and impart advice for women of all levels today.