Industrial
Shakopee City Council Approves Economic Development Incentives
By Gabriel Circiog, Associate Editor Shakopee City is set to welcome two new companies that will bring hundreds of jobs to town after the city council approved economic development incentives for SanMar Corp. and Trystar Inc., the Minneapolis / St. Paul Business Journal reports. SanMar Corp., an imprintable-clothing supplier, will invest $35 million to build […]
Brookfield, Hillwood JV on $1B Acquisition Vehicle
With the U.S. industrial market improving, Brookfield Asset Management and Hillwood announced a joint venture that is expected to invest as much as $1 billion in industrial properties over the next three years.
USAA Picks Moreno Valley for 500,000-SF Distribution Center
By Alex Girda, Associate Editor Seeking to capitalize on the Inland Empire’s robust growth, USAA Real Estate Co. recently acquired a 26-acre site in Moreno Valley for a 522,722-square-foot distribution center. USAA did not immediately disclose details about prospective tenants or a construction schedule for the property, dubbed Centerpointe Logistics Center, but it referred to plans for “immediate […]
Colliers Signs Chicago’s Largest Industrial Lease of 2012
Clarion Partners, working through Colliers International’s industrial advisory group, has signed a 492,866-square-foot lease with tenant Wilton Industries, marking the largest industrial lease in the Chicagoland area this year.
American Realty Capital Trust Goes Public, Lists on NASDAQ
Looking to “unlock the value of the company” for shareholders, American Realty Capital Trust Inc., the flagship REIT of a New York investment firm, began trading Thursday on the NASDAQ Global Select Market as a publicly traded, triple-net-lease REIT.
Transwestern Takes 230 KSF Management Contract from Seagis
The South Florida office of Transwestern has added 230,000 square feet of Miami-area industrial space to its responsibilities, courtesy of a new leasing assignment from Seagis Property Group L.P.
NAR: Commercial Vacancy Rates Improving, Rents Firming
In its quarterly Commercial Real Estate Market survey, the National Association of Realtors predicts a widespread fall in vacancy rates for nearly all property types, with multi-family continuing to lead the way.
FedEx to Build $142 Million Flight Facility; Memphis Multifamily Properties to Be Auctioned Online
By Eliza Theiss, Associate Editor FedEx Express, a unit of Memphis-based FedEx Corp., plans to build a $141.9 million flight-training facility adjacent to the existing Airways Boulevard location, reports The Memphis Daily News. The company currrently leases several flight-training facilities scattered throughout Shelby County. The new Air Operation Training Center would consolidate all flight-training into […]
Cassidy Turley: CRE Recovery to Accelerate in 2012
What has been a slow but steady rebound of the commercial real estate industry is on track to pick up pace in 2012, according to a new forecast by commercial real estate services firm Cassidy Turley.
AREA Partners, Nucor Invest in Memphis Industrial Submarket; Mountain Development Plans New Apartment Community
By Amalia Otet, Associate Editor AREA Properties Partners, a global real estate investment and asset manager headquartered in New York City, recently acquired a $23.6 million industrial portfolio in Memphis from Kansas City Life Insurance Co. The package includes Southpark H at 4650 Quality Dr., Southpark G at 4481 Pleasant Hill, Memphis Distribution D at […]