Industrial
Panasonic Relocates, Expands in SoCal
In need of more elbow room, Panasonic Corporation of North America took an entire building within Anaheim, Calif.’s 2,300-acre Anaheim Canyon Business Center industrial park. The company signed a lease with the landlord, Panattoni Development Co., to make its new home in the 300,000 square-foot Anaheim Concourse Distribution Center.
Industrial Income Buys 1.3 MSF Industrial Asset
The Atlanta-area property, which was purchased for $33.8 million, marks the firm’s fourth acquisition this year.
Tenant Takes Entire Industrial Building
The tenant roster at Ontario Distribution Center II in Ontario, Calif., went from empty to full as Pacific Coast Warehouse Co. signed a lease to fully occupy the 411,500-square-foot property.
ProLogis Wraps Up $157M Bond Financing
The bond was secured with the 1.2 million-square-foot Parc Zama I, located outside of downtown Tokyo. In 2010, just one year after its completion, the distribution facility reached the 100 percent occupancy level.
Bullish on Industrial: Manufacturing, Import-Export Activity Buoy Sector
The heat is on in the industrial market. With improving positive absorption, very little new construction in the pipeline and the merger of two giants creating excitement, 2011 may very well be the year for this oft-overlooked corner of the real estate world.
Morgan Stanley Picks Up 1 MSF Portfolio
Exit 8A Industrial Portfolio, developed by Matrix Development Group over a four-year period that concluded in 1989, takes its name from its location; the assets sit in the New Jersey Turnpike Exit 8A submarket.
World’s Largest Data Center Encompasses 830,000 SF
The Edison, N.J. property was originally developed as a nearly 1.4 million-square-foot complex for The New York Times in 1992.
Granite Sells 1.2 MSF Industrial Portfolio
Commercial real estate services firm Holliday Fenoglio Fowler L.P., charged with orchestrating the disposition of Granite Properties Inc.’s industrial assets, had marketed the properties as part of a larger 16-property portfolio with locations in Houston and Dallas.
Meritex Buys 306,000-SF North by Northeast
The business park came under lender control following the 2008 bankruptcy of Kobra Properties, but it is bank-owned no more.
AMB: Only Moderate Damage in Japan
In contrast to its previous estimate of $10 million in damage to its 10.6 million square feet of properties in Japan, the company now estimates damage between $4 million and $6 million.