Property Types Industrial
$52M Office, Industrial Fund Grabs First Philadelphia Property
May 12, 2008
By: Michael Fickes, Contributing Correspondent

The APCA Property Fund I, operated by Stamford, Conn.-based Ashforth Co. and Paradigm Capital Advisors of Boston, has acquired an 86,000-square-foot industrial building in Philadelphia, marking the $52 million fund’s first acquisition in the city.

Occupied by Brooks Provisions, a food warehousing and distribution company, the property is located in an area zoned as a food distribution center, which is about a half-mile from the  Packer Marine Terminal in South Philadelphia and adjacent to an intermodal rail yard served by truck and rail, Stephen Marzullo, senior vice president, investment properties with the CBRE Institutional Group in Wayne, Pa., told CPN today. “Interstate-95 literally runs past the back lot of the property, with on and off ramps just a half-mile away,” he added.

Zoned specifically to handle food distribution, the entire food distribution center has been fully occupied for years.

The APCA Property Fund 1, which targets industrial and office properties, has also acquired a three-building industrial complex spanning 407,000 square feet in Moorestown, N.J.

CB Richard Ellis Inc. handled both transactions. “Both properties offered existing cash flow and opportunities to enhance cash flow when the lease rolls over,” Marzullo (pictured) said. “The fund is a core-plus buyer.”

 
Recent Industrial Headlines
JV Closes Purchase of San Fran Business Park
July 18, 2008
A joint venture between Shorenstein Properties L.L.C. and SKS Investments completed the acquisition of Oyster Point Business Park and Oyster Cove Marina, a six-building flex/industrial property in South San Francisco, Calif.
Orlando Industrial Property Sold
July 18, 2008
Delta Properties Intl. L.L.C. has acquired the industrial facility at 1815 Cypress Lake Drive in Orlando, Fla., from LDL Holdings Florida L.L.C.
Sports Product Retailer Triples Warehouse with 207,000SF Lease
July 18, 2008
Driven to expand its operations due to increasing demand, Dreams Retail Inc. has leased the industrial building at 725 Landwehr in Northbrook, about 25 miles from Chicago, Ill.
Suburban Boston Industrial Complex Trades for $38M
July 18, 2008
The distribution buildings at 26 and 28 Millbury Street in Auburn, Mass., about 40 miles west of Boston, traded for an aggregate $38.5 million.
Report: Mexico's Foreign-Owned Factories Make Comeback
July 17, 2008
Mexico's maquiladoras, foreign-owned factories, have rebounded in recent years as engines of economic growth in the face of overseas competition, especially from China, according to a report by industrial real estate landlord ProLogis.
 

 

REal Talk with Adam Perrotta-July 17
July 17, 2008
By Adam Perrotta, News Writer --Today's news was a mixed bag, as yet another disappointing report on the real estate market and a major tenant pulling out of the World Trade Center was balanced out by some good news, including...

Merrill Lynch Backs Out of Plans to Move HQ to WTC
July 17, 2008
By Gail Kalinoski, Contributing Editor -- The Port Authority of New York and New Jersey confirmed today that Merrill Lynch has pulled out of plans to locate its headquarters at a new office tower to be constructed at the World...

Trio of Leading Retail Names Now Under One Roof with Closing of Hudson's Bay Deal
July 17, 2008
By Barbra Murray, Contributing Editor -- NRDC Equity Partners has wrapped up its acquisition of Hudson's Bay Co., which is, at 388 years old, the oldest continuing operating company in North America, as well as the largest department store chain...

Vegas Airport Awards $1.2B Construction Contract
July 17, 2008
By Tonie Auer, Southwest Correspondent -- Las Vegas's McCarran International Airport has awarded a $1.2 billion construction contract to Perini Building Co. Under terms of the deal, locally-based Perini will build a new terminal building, underground automated transit system and...

Report: Mexico's Foreign-Owned Factories Make Comeback
July 17, 2008
By Dees Stribling, Contributing Correspondent -- Mexico's maquiladoras, foreign-owned factories, have rebounded in recent years as engines of economic growth in the face of overseas competition, especially from China, according to a report by industrial real estate landlord ProLogis. Maquiladoras...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...