Greenberg Gibbons Properties (GGP) is working with Tribek on a 750,000-square-foot industrial park off Pitts School Road in Concord. The park will span over 80 acres and include six total buildings.

Tribek is leading development of a 392,000-square-foot speculative industrial building there. GGP is developing five shallow-bay buildings totaling 358,000 square feet. A retail element is expected to eventually be part of the project as well. Tribek has several retail outparcels at the site.

The Charlotte Business Journal reports the two companies paid a combined $12 million for the land.

Landmark Builders is leading construction efforts. McMillan Pazdan Smith is the architect for the project. Oak Engineering is the civil engineer.

JLL’s Brad Cherry, Matthew Greer and Jay Hill are leading leasing efforts for Tribek’s building. The leasing of GGP’s buildings is being led by CBRE’s Alek Salfia, Bryan Crutcher and Anne Johnson.

Rushmark Properties closed on a $48.3 million construction loan with United Bank to develop Berkeley Commerce Center, a multi-building, Class-A industrial campus in Summerville, South Carolina. With site work now underway, Rushmark will commence work this fall on the first two structures’ building pads, which span 775,000 square feet. JLL’s Lee Allen, Kevin Coats and Tyler Smith will lead leasing and marketing efforts. JLL also assisted Rushmark in securing the construction loan with United Bank. 

Berkeley Commerce Center fronts I-26 and connects to the Port of Charleston via I-95. At 505,440 square feet, the first building will include 2,500 square feet of office space, cross-dock configuration and 36-foot clear heights. At 267,840 square feet, the second building features 1,200 square feet of office space, rear-load configuration and 32-foot clear heights. Rushmark expects to deliver the first two buildings in Q4 2025. More is expected in future phases. The project was designed by architects LS3P Associates with civil engineers Thomas & Hutton, and HITT Contracting is the general contractor. 

CBRE recently arranged the sale of Arrow Pines Business Park, a 44,125-square-foot-industrial business park in San Dimas. The buyer was a private investor, Arrow SD LLC, who paid $9.23 million.

CBRE Investment Properties’ Mark Shaffer, Anthony DeLorenzo, Gerand Poutier and Dylan Rutigliano, along with CBRE’s National Partners Barbara Perrier and Eric Cox, represented the seller, SoCal Industrial LLC, a joint venture of Birtcher Anderson Davis & Associates and Belay Investment Group.

“This sale signifies the high demand for small bay multi-tenant industrial properties in Southern California,” said Shaffer. “We continue to see strong demand from 1031 exchange buyers and private investors looking to diversify into industrial from other product types like multifamily.”

Built in 1987, Arrow Pines Business Park’s three building sizes range from 11,240 to 16,473 square feet, with unit sizes varying from 960 to 3,192 square feet. The 82.2% occupied business complex features a 12 to 15-foot clear height and 32 grade-level doors.

The California Business Properties Association said Friday the U.S. Supreme Court’s ruling that cities can enforce bans on homeless people sleeping outdoors will provide new tools and help California leaders and law enforcement address homeless encampments, in conjunction with providing housing assistance and mental health support. The ruling is seen as a necessary step to address public safety and sanitation concerns created by illegal camps on city streets and private property.

CBPA and the Pacific Legal Foundation filed a brief with the high court in Grants Pass v. Johnson, a case the court decided in favor of the Oregon city of Grants Pass. “CBPA and our members engaged in this important case because local governments and property owners alike need to be able to keep public spaces clean, sanitary, and safe for all,” said Matthew Hargrove, CBPA president & CEO.

He continued, “We praise the state and Governor for the resources that have been dedicated to addressing homelessness and mental health, including the significant contributions from Proposition 1 passed in March and programs like Project Homekey.”

This 6-3 decision announced Friday overturns a significant prior ruling by the Ninth Circuit Court of Appeals and allows cities to disband public encampments.

KBS has secured a $38 million loan to refinance Crossroads Distribution Center, a four-building, 496,723-square-foot industrial property in Charlotte, North Carolina.

Crossroads Allen Aldridge added, “It is accessible to rail, road, air, and water transportation, including ports along the Eastern seaboard. As the Southeastern U.S. population maintains its growth trajectory, well-located logistics sites like this one are expected to continue to perform.” 

KBS recently completed a lease renewal with the largest tenant at Crossroads, to remain at the property.

The site’s tenants include businesses that sell and distribute products imported into the U.S., most of which are shipped into the country via container ships. Amenities at the property include a fitness center, tenant lounge, on-site car wash/detail, and proximity to public transportation.

Joe Donato, vice chairman of Newmark, and his team assisted KBS in the refinancing.

Crossroads Distribution Center is located at 11401, 11415, 11435, and 11445 Granite Street in Charlotte, North Carolina.

Mayor Brandon Johnson and World Business Chicago Vice-Chair Charles Smith announced that Philip B. Clement has been selected to serve as president and CEO of World Business Chicago (WBC).

“Philip B. Clement is an exceptional leader with a remarkable track record of driving growth, fostering innovation, and championing inclusivity,” said Johnson. “His commitment to authenticity, sustainability, and diversity will ensure that our city’s economic development efforts are equitable and impactful for all Chicagoans.”

Clement’s appointment follows the resignation of Michael Fassnacht, who took over as president and CEO of WBC in early 2021. Fassnacht left WBC earlier this year to serve as Clayco’s first-ever chief growth officer.

Prior to joining World Business Chicago, Clement served as Global Chief Marketing Officer at Johnson Controls. Previously, he spent 12 years as Global Chief Marketing Officer for Aon, and before that, he launched a number of tech companies and his own consultancy.

Join the leaders and dealmakers when they explore the most important topics and trends at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register to attend to network with the best in the industry and sit in on discussions you won’t hear anywhere else. Early Bird Registration Ends April 19.

By the time the dust settles, NorthPoint believes it will invest $370 Million in its Gateway85 project in Gastonia, about 30 minutes west of downtown Charlotte. The park spans 396 acres along Interstate 85 between Gastonia and Lowell.

The Charlotte Business Journal reports NorthPoint is early in the process planning for the next phase of the project, which could accommodate three more buildings totaling over 1 million square feet. It already has invested $255 million into the venture which includes five completed industrial buildings with 3.3 million square feet of space. The developers say the next phase of the project will be built on spec.

The latest completed phase— which includes major operations from Newell Brands and the U.S. Postal Service, among others — has created around 1,000 jobs. Its first phase included buildings making up 910,000 square feet leased to USPS and Amazon. The project is slated to employ 1,700 workers by the close of the next phase.

Red Rock Developments has put off building a six-building, 2.6 million square business park in Rowan County, blaming market conditions. The Charlotte Business Journal reports the group is now ready to move forward on the project that has received a number of economic incentives.

Carlton Farms will be built in three phases, with buildings ranging from 168,000 to 1.1 million square feet.

The county incentives include public infrastructure reimbursements for the project worth up to $4.2 million. Red Rock must develop with a minimum assessed tax value of $100 million to receive the incentives. The initial agreement required a $117 million investment in the project’s first phase. The county could also consider additional incentives for the project once the $100 million assessed tax value is reached.

The Carlton Farms site, which has been owned by the Carlton family, is near Exit 81 of Interstate 85 and neighbors Chewy’s large fulfillment center.

A partnership has gobbled up enough land to start work on a Boynton Beach industrial facility. Butters Construction & Development and Channing Corp. have completed their assemblage of 47.2 acres in the Agricultural Reserve west of Boynton Beach. The S. Florida Business Journal reports the most recent deal involved the acquisition of 37 acres for $25.75 million. This follows their purchase of a neighboring site of 10.2 acres in January for $4 million.

Sudler Companies and Woodmont Industrial Partners are also partners with Butters Construction and Channing in the buyer group.

The sellers were Valico Nurseries and a number of individual property owners.

The project, called the District, would have 519,000 square feet of office, showroom, warehouse, and small bay industrial space, plus 140,000 square feet of self-storage. There will be seven buildings in total, ranging from 21,000 to 124,000 square feet.

The small bay industrial spaces would start at about 4,000 square feet.

Arcadia Architects designed the project.

Real estate services giant Savills is acquiring T3 Advisors, a specialist in life sciences tenant representation, in an effort to expand Savills’ expertise in that fast-growing sector. 

Founded in 2001 with offices in Boston, New York, San Francisco and Palo Alto, California, T3 will rebrand as T3 Advisors, A Savills Company. T3 founder and CEO Roy Hirshland will become a vice chairman at Savills and continue to lead T3 Advisors. The buyer didn’t disclose a price.

“The acquisition of T3 will further amplify the life science and technology industry advisory services that Savills can provide to clients on a global basis,” Savills Group CEO Mark Ridley said in a statement. “These are key growth sectors for us and are integral to our continued strategic expansion across North America.”

Though already in a growth mode, life sciences got a boost from the coronavirus pandemic, and the demand for space in life sciences hubs is still expanding, pushed by investment in the sector from private venture capital as well as federal sources like the National Institutes of Health.

Development in the sector is also brisk nationwide. San Diego State University is developing the 80-acre Mission Valley complex, which will include life sciences facilities. In Houston, the 37-acre TMC3 project will seek to gestate ideas from the Texas Medical Center into full-fledged companies. In Pittsburgh, a 1915-vintage Ford Motor plant is being reborn as The Assembly, a $330M biomedical research hub anchored by the University of Pittsburgh. 

Boston, San Francisco and San Diego remain the top U.S. clusters for life sciences, according to JLL, but other markets are emerging quickly, such as Charlotte, Seattle, Denver and Austin.

In New York, which is also a rising life sciences hub, CBRE reports that life sciences leasing has totaled 257.4K SF so far this year, up from 155.9K SF in all of 2020 and 72.4K SF in 2019.