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Industrial News

More spec space at south Florida's Miramar Park Sunbeam Properties has announced plans for four new speculative buildings totaling 362,000 sq. ft. in the Miramar, Fla., Park of Commerce.

MPC-15 is a 45,000 sq. ft. office/service building, while MPC-17 includes 117,000 sq. ft. of warehouse space. Both are under construction and will be available by August.

In addition to buildings 15 and 17, MPC-18 will be built in Phase IV of the park and feature twin 96,000 sq. ft. distribution/manufacturing buildings. MPC-18 will be available in the fourth quarter of 1999.

Phases III and IV will add 1 million sq. ft. to the park.

Zany Brainy consolidates in Commodore Business Center Toy retailer Zany Brainy will consolidate its distribution operations into a new 250,232 sq. ft. building in Liberty Property Trust's Commodore Business Center in Swedesboro, N.J.

The $9 million distribution center will feature a cross-dock design that increases flexibility. The building will house about 150 employees.

Liberty is also developing Zany Brainy's headquarters, a $6 million, 53,000 sq. ft. building in King of Prussia, Penn.'s Renaissance Park.

Balke plans St. Louis City business park Balke Properties has announced plans to build the St. Louis Commerce Center in St. Louis City, 3/4-mile north of Highway 40/Interstate 64.

Covering six city blocks, the business park will contain 450,000 sq. ft. of distribution/light industrial manufacturing space in three buildings. The estimated completion value for the project is $15 million.

The six-block area is part of a Brownfield Redevelopment Zone that St. Louis City had originally targeted for industrial redevelopment in the 1980s. The handful of derelict buildings currently on the tract will be razed.

The St. Louis Commerce Center buildings will feature 28-foot clear-height ceilings, multiple loading docks and ESFR sprinkler systems. Balke plans to complete the first this fall.

Pacific Theatres turns old drive-in into industrial development Pacific Theatres Realty Corp. recently began construction on a Class-A distribution facility on a 15.4-acre site that was formerly a Pacific Theatres drive-in in Santa Fe Springs, Calif.

Adjacent to Interstate 5 and the 605 and 91 freeways' intersection, the site is one of the few large land parcels available for development in the area.

With a 220-ft.-wide truck court with 39 loading docks, the 356,000 sq. ft. building will be one of the area's largest distribution centers. The site was home to a drive-in theater from 1959 to 1993 and has been inactive for the past five years.

Cattellus develops GATX's second Chicago area facility Cattellus Development Corp. will develop a 400,100 sq. ft. build-to-suit facility at Romeoville, Ill.'s Internationale Centre West for lease to GATX Logistics Inc.

Scheduled for November completion, the cross-docked building will feature 30-foot clear height ceilings, 40 exterior loading docks, four drive-in doors and 6,000 sq. ft. of office space. GATX also has the option to expand the facility by 200,000 sq. ft. on seven acres.

The building will be on 18.35 acres at Internationale Centre West, the 110-acre business park near I-55.

The warehouse/distribution center will be the second facility Catellus has developed for GATX in the suburban Chicago market. GATX also contracted Cattellus to build five additional distribution facilities across the United States.

Carter negotiates Atlanta's largest 1998 industrial lease ATLANTA - Carter & Associates represented AMB Investment Management and Southeast Investment Properties (SIP) in brokering two leases totaling 453,587 sq. ft. for DynCorp in the Southside Industrial Park.

DynCorp will occupy the building this month and use the space to warehouse and refurbish equipment for the U.S. Postal Service. The new building, in the City of Atlanta Urban Enterprise Zone, was completed in December and is the second-largest spec industrial building ever developed in Atlanta.

As part of the Urban Enterprise Zone, DynCorp is eligible for annual property tax savings of 10 to 15 cent per sq. ft.

The building was developed by SIP and AMB Property Corp., one of the nation's largest industrial REITs, on behalf of a client in its subsidiary advisory business. The client will take possession upon occupancy by DynCorp.

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