Industrial News Center

Transcription

Industrial News Center
Industrial News Center
Q U A RTERLY N EWS LETTER | S U MMER 201 5
Case Study: Pacific
Architects and Engineers
PAE, a major operation support vendor to the United States
government was competing for business from the United
States Postal service. The USPS had put out to bid their
largest material handling maintenance and repair operation
in the country.
PAE hired Cresa to provide unbiased market information,
and to advise them throughout the bid process. Cresa’s
Transaction Management team worked with PAE to identify
properties with in the metro area that met the operational
requirements of the USPS. This included a very large
parking requirement of 365 trailer positions within a fenced
yard on site.
Cresa identified three (3) potential buildings that worked for
the USPS and negotiated aggressive rental rates with all
three facilities, presenting to PAE contract contingent signed
letters of intent for each. By positioning PAE’s size and
credit against their competitor, PAE was able to secure more
aggressive rental rates for this requirement.
What became difficult during the process was the existence
of other potential suitors in the market for the three available
buildings. A large E-Commerce company and a large
manufacturing group were also vying for these buildings.
What’s Happening in the North America
Industrial Market
By leveraging a more competitive rent stream, PAE was
able to win the USPS business. Upon signing the contract
with the postal service PAE executed a lease agreement for
the entire 723,291 SF development in Romeoville,
committing to bringing 150 jobs to the community.
Read more at: www.cresa.com/pae-applied-technologies
Where in the World is Jim Winter
H
ouston | May
O
hio | May
Boston | June
Job Growth
Absorption
49.6M SF
Availability
7.0%
Demand
Kansas City | June
C
incinnati | July
Industrial News Center
Q U A RTERLY N EWS LETTER | S U MMER 201 5
Recent
Transactions
PAE Group | Romeoville, IL
723,000 SF
O’Neill Logistics | Santa Fe Springs, CA
288,000 SF
Quantum Feul Systems | Lake Forest, CA
156,000 SF
Consumer Products Client | Tampa, FL
120,000 SF
Houston Industrial Market
In the first quarter of 2015, industrial market fundamentals remained strong, with
few submarkets showing signs of weakness; however, there is caution moving
forward as the answer to the question of what will happen in the Oil & Gas industry
and how it will affect Houston remains unanswered. Most experts agree that
Houston will not experience a major downturn because the city has benefited from
significant economic growth in the recent past and economic indicators continue to
see positive numbers.
The Houston industrial market is shielded from downturns in the price of oil – there
is much diversification within the Oil & Gas industry. While midstream and
downstream continue to perform positively, upstream is losing jobs and the overall
outlook for this sector is uncertain. We expect overall fundamentals to decline in the
months to follow and into 2016, with the market transitioning favorably for tenants.
Read more at: www.cresa.com/houston-q1-2015-1
Centric Group, LLC | Jacksonville, FL
117,000 SF
Chamberlin Group Inc. | Chicago, IL
100,000 SF
3M Company | Phoenix, AZ
97,000 SF
New Team Members
Rexel Canada | Toronto, ON
83,000 SF
Matt Burton
Advisor, Denver
Upcoming
Conferences
Trust Belt
IAMC
| May - June 2015
| September 2015
CSCMP
| September 2015
CoreNet
| Oct 2015
Edison Bastidas
Advisor, NJ - North/Central
Frank Palestini
NEW TO INDUSTRIAL
Senior Advisor, Calgary
Margo Mocarski
NEW TO INDUSTRIAL
Senior Vice President, Philadelphia

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