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The O’Hare market is known for being tight and expensive, but NAI Hiffman’s Brian Colson said that he expects this to change in the coming year thanks to a new project by the Illinois Tollway. That project has the goal of making infrastructure more efficient, and could have a significant impact on the O’Hare submarket.
CBRE Capital Markets represented ownership in the sale of the Long Lake Distribution Center, a 220,557-square-foot Class-A infill distribution center in Roseville, Minnesota, for $18.65 million to Boston-based TA Realty LLC.
In early November, members of the McCarthy Building Companies, Inc. Kansas City team joined Dairy Farmers of America (DFA), a national dairy cooperative owned by family farmers, to celebrate the opening of DFA Garden City in Overland Park, Kansas. McCarthy served as general contractor for the state-of-the-art, 214,000-square-foot dairy ingredients plant located in Southwest Kansas.
Brown Commercial Group, based in Elk Grove Village, Illinois, recently brokered one sale and four leases totaling 31,435 square feet in Chicago’s western suburbs.
Darwin Realty’s Brendan Sheahan and principal Noel Liston represented St. Charles Trading, Inc. in the purchase of a 100,000-square-foot facility at 1400 Madeline Lane within the Randall Point Business Park in Elgin, Illinois.
For the past several years industrial has been one of the most competitive and in-demand sectors in Chicago and across the country. Market fundamentals have improved within the last year, and the balance of supply and demand remains healthy.
Meridian Design Build recently started construction on a 75,000-square-foot build-to-suit facility for Banner Wholesle Grocers on a 4.25-acre site in Chicago.
PREMIER Design + Build Group, LLC has completed construction of a 40,750-square-foot distribution facility for Dayton Street Partners/WBS Equities in the Portgage Park neighborhood of Chicago.
Lee & Associates of Michigan has hired Larry Kelly as a senior vice president in the industrial division.
Jeremy Kraus, Tim Schenke and Doug Whitten, professionals from CBRE’s industrial and logistics real estate services department, were recently promoted to senior vice president.
U.S. warehouses are getting bigger. And you can credit e-commerce for it.
Indianapolis has the major positives that end users are looking for when they’re hunting for industrial real estate: The city is located in the heart of the country, an ideal spot for distribution. It is surrounded by highways and rail lines. The government in the state and city is pro-business. And there’s a large and highly-skilled workforce ready to work in the city’s distribution centers and warehouses.
U.S. Paint, a developer and manufacturer of customized automotive and industrial paints and coatings, has contracted McGrath & Associates to design/build a new $5 million warehouse at its facility in downtown St. Louis, Missouri.
Chicago-based Related Midwest donated more than 800 turkeys Nov. 20 to construction workers on its three active Chicago developments: One Bennett Park in Streeterville; Lathrop, along the north branch of the Chicago River on the city’s Northwest Side; and Landmark West Loop, near the Illinois Medical District on the southern end of the West Loop.
Brown Commercial Group brokered five industrial transactions totaling 16,736 square feet in Chicago’s western suburbs.
John Whitehead is someone who follows his heart, which in turn led him to NAI Hiffman where he was recently named executive vice president and shareholder. Real estate has always had a presence in his life, his grandfather owned a 4th generation Whitehead Realty in Rockford and it was a source of pride for his family. However, John never worked at the company and he didn’t study finance or business in college–he decided to carve his own path.
Becknell Industrial has purchased a 14-acre industrial site in the city of Fairfield, Ohio. CBRE assisted with the purchase of the land, located on Commerce Center Drive, off of Seward Road.
Meritex this month will demolish a 360,000-square-foot industrial property formerly known as the Minnesota Technology Exchange Building. It will then built two 144,000-square-foot bulk distribution buildings in Roseville, Minnesota.
Reich Brothers is partnering with Rabin Worldwide for the redevelopment of the recently purchased Oscar Mayer site in Madison, Wisconsin, and a three-day auction of the processing and packaging equipment.