Property Types  Industrial
CBRE Nabs 335,400SF Minneapolis Distrib Center
Jul 01, 2009

CB Richard Ellis Realty Trust has purchased a Class A industrial warehouse facility that is fully leased to Walgreens in the Northwest submarket of Minneapolis. Located at 13201 Wilfred Lane in Rogers, Minn., the 335,400-square-foot building is located within Diamond Lake Park, which currently has a 97 percent occupancy rate. Constructed in 1999, the building was renovated in 2008 to accommodate Walgreens’ package conveyer system, including a fully automated overhead chain conveyer system that routes goods directly to selected trailers for loading efficiencies. The site also provides excess land that could accommodate an expansion of up to 75,000 square feet. The building is 100 percent leased to Walgreens through July 2018. Financial terms of the deal were not disclosed.

 
Recent Industrial Headlines
CB Richard Ellis Realty Trust Buys Best Buy Warehouse
Aug 07, 2009
CB Richard Ellis Realty Trust acquired a new 238,370-square-foot state-of-the-art suburban Boston warehouse/distribution building built to suit for Best Buy Stores, which is occupying it on a long-term lease. Located at 140 Depot St. in Bellingham, Mass., the center is expandable and features pre-cast concrete construction, cross-docking, a 36-foot clear height, ESFR sprinklers and excess trailer parking. It will be used primarily as a regional distribution center for home delivery of large items, along with some service/repair and dispatching and scheduling work.
NJ Company Breaks Ground on Cold Storage Facility in China
Aug 04, 2009
Ground has broken on a 280,000-square-foot refrigerated warehouse at Lingang Logistics Park in Shanghai, China, for Newark, N.J.-based Preferred Freezer Storage. For China, the property will become the country's largest and most sophisticated single-story cold storage facility. For PFS, the build-to-suit structure marks the company's entrée into China, as well as the beginning of its pursuit to accommodate the burgeoning demand for cold storage facilities across the country.
Opus Property Services Reported for Sale
Aug 03, 2009
Opus Corp. is seeking to sell its property-management business, according to a report on bizjournals.com, the Web site of American City Business Journals. It quoted a company spokesperson as stating that selling off Opus Property Services would help the company renew its focus on its "core competency," along with its being a good time to sell because property management firms currently have an "appetite ... to grow their (business)." Opus' management portfolio totals about 30 million square feet of office, retail, industrial and corporate space.
Tenant Signs on for 269,000 SF of Inland Empire Industrial Space
Jul 30, 2009
Newport Beach, Calif.-based Master Development Corp., the managing member of Ontario Two L.L.C., has inked a tenant to a six-year lease valued at $3.5 million in Phase II of its Thoroughbred Business Park, a 2 million-square-foot industrial park located in Ontario, Calif.
$4.2B Semiconductor Facility in Upstate NY Likely to Spark New Opportunities
Jul 28, 2009
After three years of Silicon Valley-based GlobalFoundries and the State of New York working together to lay the financial groundwork, construction of GlobalFoundries' $4.2 billion semiconductor wafer manufacturing facility at the new 1,400-acre Luther Forest Technology Campus in Malta, N.Y., has just commenced. Officials expect the GlobalFoundries development to create 1,400 new manufacturing jobs, and they are keeping their fingers crossed that the 1.3-million-square-foot Fab 2 will spur additional investment in the area.
 
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?CPN Executive Outlook? A roundtable discussion on market strategies with John C. Cushman III, Chairman of Cushman & Wakefield, Inc., Gordon DuGan, President and CEO of W. P. Carey & Co., and Mark Rauenhorst, Chairman and CEO of Opus Group.; CPN; Cushman & Wakefield; Gordon DuGan; John C. Cushman III; Mark Rauenhorst; Opus Group; W. P. Carey & Co.; Eugene Gilligan, Senior Editor for Commercial Property News interviews Bob Bach, National Director, Market Analysis Grubb & Ellis Company at Multi Housing World.; Bob Bach; Commercial Property News; Eugene Gilligan; MHN; Multi housing news; multi housing world; hompage