US LBM’s Post

"MA Flex Building Sold to Walker Development for $5M" Read the full article below..

LEASED TWICE WITHIN 12 MONTHS | 7/55-65 Christensen Road, Stapylton The original tenant outgrew the premises and moved into a larger tenancy. We secured a new tenant to take over the lease in under 4 weeks on the market. If you'd like further details of this lease or a review of your property's existing performance compared to the current market, please get in touch. E: Ben.sands@raywhite.com P: 0432 547 164 AJ Calvet RWC Gateway #Industrial #Brisbane #CommercialRealEstate #CRE #RealEstateInvesting #CommercialProperty #InvestmentProperty #CommercialLeasing #Business #PropertyManagement #CREBroker #Commercial #CommercialInvestment #RealEstateDevelopment #CommercialSpace #LeaseOpportunity #BusinessLocation #CommercialListing #CommercialProperty #Expertise #Opportunities #StrategicPlanning #Teamwork #Investments #InvestingInsights #Realestate #Property #Industrial #Raywhite

Bonkers Bargains: another great update Shares of this building products and systems company have climbed over recent months, but the valuation remains extremely compelling, even relative to sector peers. Despite the gloom surrounding the UK construction materials sector, the latest trading update provided further encouragement, featuring organic revenue growth and another small earnings upgrade. Find out more about this lowly rated and high yielding Bonkers Bargain here, including comment on the latest update. #investing #dividends #bonkersbargains https://lnkd.in/en9dqBR6

SOLD! $27,700,000 Multi-Tenant Industrial Complex in Mississauga Colliers National Investment Services is pleased to announce the successful sale of 2630-2666 Royal Windsor Drive, Mississauga. The subject property is a three-building, multi-tenant industrial complex with a total rentable area of 92,411 SF. The buildings are situated on an expansive 6.19 acre site that is zoned E3 permitting outside storage. The low building to lot coverage ratio of 34% provides approximately 1.8 acres of excess land that can accommodate trailer storage. At the time of sale, the property was approximately 85% occupied at in-place rents below market. Along with the vendor, we would also like to congratulate the purchaser on their acquisition of this strategic, multi-tenant industrial asset. Gord Cook Max Brenzel Farabe Wahab Ramona D'Souza Robert Frost Brian Rosen Daniel Holmes Tracy Macdonald Peter Garrigan #collierscanada #colliers #industrialrealestate #multitenant #warehouse #mississaugarealestate #investinginrealestate #realestate

SOLD | $92,000,000 | 13-19 William Angliss Drive, Laverton North VIC   On behalf of our valued vendor, the Cushman & Wakefield Capital Markets Logistics & Industrial team would like to congratulate KM Property Funds on the successful acquisition of 13-19 William Angliss Drive, Laverton North VIC for $92,000,000.   The asset comprises a major industrial estate in the highly coveted and tightly held infill precinct of Laverton North in Melbourne’s West. Situated on a 12.1 hectare landholding with dual street frontages are three high quality office warehouse facilities plus 1.62 hectares of development land able to be immediately activated.   The asset sold 100% occupied by two tenants, reflecting a WALE (by income) of 5.3 years. The current passing income profile equates to approximately 27% below the assessed market rental, offering significant reversionary upside in the medium-term.   The asset sold via an International Expressions of Interest campaign and attracted interest on a local, national and international level given the strong underlying tenant covenant, future reversionary upside, and the ability to access the surplus land immediately. The sale represents one of the larger individual transactions this year within Victoria and highlights the ongoing demand for scale within the sector, particularly where the potential to further enhance returns exists.   For further information on this transaction, please contact Tony Iuliano (+61 412 992 830), Chris Jones (+61 477 881 882) or Adrian Rowse (+61 414 836 817).   Gary Hyland Nick Goodridge Charlie Holmes Brendan Harrison Oliver McIntosh Jack Shearer Vivian Nguyen Bronte Senn Sarah Baker   #Cushwake #CapitalMarkets #Industrial #Logistics #LogisticsandIndustrial #Investments #Melbourne #Australia *in conjunction with JLL

Herndon-based roofing and building supplies company Beacon Building Products has closed out a busy 2023 by opening new distribution centers in five states. The Fortune 500 company, officially known as Beacon Roofing Supply Inc. said this week that it has recently added branch locations in Georgia, Illinois, Iowa, South Carolina and Texas, to go along with the 21 distribution centers it has already opened this year. Beacon is one of Greater Washington's largest publicly traded companies. Its aggressive expansion is part of CEO Julian Francis stated plan to generate annual revenue of $9 billion by 2025 through a mix of organic growth and acquisitions, and Beacon appears to be on pace to hit that target a year early. Through the first nine months of 2023, the company reported revenue of $6.8 billion, up nearly 6% from the same period in 2022. Net income, however, was down nearly 12% from the first nine months of 2022 to $340 million due primarily to higher operating and production costs.

NEW INVESTMENT SALE.   WILDBROOK CRE are instructed to sell a multi-let industrial investment in Bootle, Liverpool. Ideal for a private investor, property company or business owner with future occupation intentions.   The asset comprises 16,943 sq ft across three units with self-enclosed internal yard areas, strategically located close to Canda Dock, Alexandra Dock and Liverpool city centre.   All units are occupied and income producing a total rent passing of £100,988, an average rent of just £5.96 per sq ft. Leased to The Bespoke Boat Building Company, Evri and Acquarius Canal Boat Builders. With a lease expiry upcoming to one of the units, my client has already secured new lease terms to an incoming tenant for a new 5 year lease agreed. This demonstrates the strength of the local occupier market and resilience of assets in the locality, with little vacancy for this size unit. For unit sizes of 5,000 sq ft to 15,000 sq ft, and within a 3 mile radius of the subject investment, there is a vacancy rate of just 1.9%, with an average rent in this radius of £7.14 per sq ft, average yield achieved of 7.9% and an average capital value rate of £85.00 per sq ft. The asset has EPC’s ranging from B-33 to B-47 ratings and provides an opportunity to undertake asset management initiatives and capture the reversion within the next 18 months.   We are quoting offers in excess of £1.15m, which reflects a net initial yield of 8.35% and a capital value of just £67.00 per sq ft, which is below reinstatement value and well below current build costs.   Please get in touch should this be of interest or if you require any further information.   #industrial #investment #manufacturing #storage #liverpool

Have you ever consider what, if any, relationship there might be between lease expiries and the anticipated life-cycle of building equipment? When they do align it typically provides for an opportunity to go through a major rehab or repositioning exercise. Further, if there is an indication there is some alignment then it may help to guide on the lease duration for any new leases to ensure the building will be more-or-less vacated at the time of any major repositioning or redevelopment. #realestate #realestatedevelopment #repositioning #capex #leaserenewal #leasemanagement

For two seemingly unrelated commercial real estate issues, there is a very important relationship between lease expiries and building equipment life-cycle CAPEX. #realestate #realestateinvestment https://lnkd.in/eMN6Wpkf

Good morning. Here’s your Tuesday round-up of the latest news and views from EG. 🛍 Landsec has closed a deal to buy GIC’s 17.5% stake in Bluewater shopping centre, in Kent, for £120m. The deal takes the owner’s stake in the centre to 66.25%. The listed owner said the investment will increase its net rental income by £10.3m on an annualised basis. 🛒 Warehouse REIT has bought a slice of Ventura Retail Park in Tamworth for £38.6m, representing a net initial yield of 7.4%. The news comes as the investor returns to profit in the year to 31 March, generating IFRS pre-tax profit of £34.3m, compared with a £182.8m loss last year. The REIT cited “robust” occupier demand, with contracted rents growing by 5.1% on a like-for-like basis. 🏭 L&Q Estates has sold a 600,000 sq ft site in Coventry to industrial developer Panattoni, which is drawing up plans for a £135m GDV speculative development. The site also has a residential aspect, which has been acquired by Taylor Wimpey plc. It is expected to consist of up to 73 homes. Combined, the total GDV of the site is estimated to be worth around £155m. 🤝 CBRE Group has set out plans to combine its project management business with its majority-owned subsidiary Turner & Townsend, as it increases its stake in the consultancy to 70%. On closing the deal, CBRE will own 70% of the combined business, with Turner & Townsend partners holding the remaining 30%. It has invested around $70m (£55.3m) in upping its stake, excluding deal costs. 🏨 And, Firethorn Trust has bought the 150-bed Malmaison York hotel from LOTHBURY PROPERTY TRUST COMPANY LIMITED, as the latter winds down. The boutique hotel was sold in an off-market deal for an undisclosed sum, although Lothbury had placed a valuation on it of £31m. It is a 29,000 sq ft site occupied by Malmaison on a 35-year lease at £2.1m per annum. Conway Real Estate, JLL and Maples Teesdale LLP advised the buyer. ⬇ All this and plenty more in your latest summary ⬇