Verus June 2012 Update (Development is Back!)
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Verus Partners is pleased to announce an active development pipeline intitiated during the first half of 2012 with six projects totaling nearly 1.5 million square feet now under construction or soon to be started, including build-to-suit facilities and speculative developments. We are pleased with the results that our North American platform is delivering for our clients, our capital partners, and our associates.
Notable projects include a 770,000 SF bulk warehouse under construction on a speculative basis in Plainfield, IN, one of the strongest bulk industrial markets in the US. Verus is also building 137,500 SF for office, warehouse and manufacturing facility for Helmer, Inc. in Noblesville, IN. We are completing a 150,000 SF three story office building in Jessup, PA for TMG Health. And in Williston, ND, Verus is completing a manufacturing and warehouse facility for a Canadian-based company involved in the booming energy services business.
Our Canadian business continues to be active, particularly in the province of Alberta, where we are completing a 220,000-SF manufacturing and warehouse facilty for a repeat client, and in Rocky View County (near Calgary) where we entered into a joint venture to acquire and develop 24 acres where two buildings totaling 261,300 SF will be started on a speculative basis this fall. A third building is planned for construction in 2013.
For more information contact Chris Broccolo at 847-447-5024.
 
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New Spec Construction in Plainfield, IN
Verus Partners is pleased to announce GreenParke One, a 770,000 SF bulk warehouse to be constructed on a speculative basis in GreenParke at Airwest Business Park in Plainfield, Indiana. GreenParke at Airwest Business Park is a 125-acre master-planned business park located along Ronald Reagan Parkway at Metropolis Boulevard, immediately west of the Indianapolis International Airport. GreenParke One will feature 36' clear height, cross dock shipping, all precast insulated concrete exterior walls, T5 lighting, 80 truck level doors, and ample auto and trailer parking.
Luke Wessel of Cassidy Turley has been awarded the listing assignment.
For more information, contact Tom Theobald, 317-566-2104.
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24-acre industrial development in Rocky View County, Alberta
Verus Partners is pleased to announce it has entered into a venture with Morguard Investments Ltd to develop a 24-acre parcel in Rocky View County, just north of the city of Calgary, with three industrial buildings totaling 436,100 SF. The first phase of the project, consisting of Buildings 1 and 2, will start construction on a speculative basis in the fall of 2012. Verus has been appointed the development manager on behalf of Morguard and two institutional investor clients. Morguard will be the asset manager and property manager.
Chris Saunders and Brent Johannesen of Cushman and Wakefield Ltd are the leasing agents.
For more information contact Paul Derksen, 403-538-5444.
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137,500 SF build-to-suit, Noblesville, IN
Verus Partners is pleased to announce it has entered into an agreement to design, build and lease a 137,500 SF office, warehouse and service facility for Helmer Inc. in Saxony Corporate Center, Noblesville, IN. The building will be completed in 2012. Established in 1977 to serve the life science industry, Helmer is a manufacturer and worldwide distributor of high quality laboratory equipment and refrigerated product. Andrew Morris of Summit Realty Group represented Helmer.
For more information contact Tom Theobald, 317-566-2104.
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GSK Expansion
York, PA
GlaxoSmithKline Consumer Healthcare Products is completing the second phase of their expansion at the I-83 Logistics Center in York, Pennsylvania. The expansion will bring incorporate their floor stand assembly operation involving the manufacturing of custom floor stand and marketing displays for internal and external clients. Upon completion the location will provide a state of the art manufacturing and distribution operation employing an average of 250 full and part time employees.
For more information contact Ryan Hahn, 317-721-6720.
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327,600 SF under construction in Edmonton
Verus Partners is pleased to announce the commencement of construction of two buildings totaling 327,600 SF in Northport Business Park, Edmonton, Alberta. The buildings are being constructed on a speculative basis on behalf of KingSett Capital. Colliers International has been appointed the leasing agent. Northport Business Park is a 100-acre development located in northwest Edmonton. Fully serviced land sites ranging from 5 to 35 acres are available.
For more information, contact Paul Derksen, 403-538-5444.
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34,000 SF office warehouse, Williston, ND
Verus Partners is pleased to announce it has been retained as development manager by Packers Plus Energy Services for the design and construction of a 34,500 SF office, service and warehouse facility in Williston, North Dakota.
Packers Plus Energy Services Inc. is a privately held, Calgary-based oilfield services company specializing in open hole, high pressure high temperature (HPHT), high pressure retrievable packers, and specialty service tools. This represents the third project Verus has managed on behalf of Packers Plus.
For more information contact Paul Derksen, 403-538-5444.
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262,000 SF office, tech training centre, manufacturing and warehouse
Verus Partners is pleased to announce it has been retained as development manager by Packers Plus Energy Services Inc. for the design, permitting and construction of two buildings on a 13 acre site in southwest Edmonton. The first building is a two-storey 42,000 SF office and technical training centre now under construction. The second phase is a 220,000 SF manufacturing, fabrication and warehouse facility that will be constructed in 2012.
Packers Plus Energy Services Inc. is a privately held, Calgary-based oilfield services company specializing in open hole, high pressure high temperature (HPHT), high pressure retrievable packers, and specialty service tools.
For more information contact Paul Derksen, 403-538-5444.
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150,000 SF office build-to-suit
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Verus Partners is pleased to announce it has entered into a long-term lease with TMG Health, Inc., a wholly-owned subsidiary of Health Care Service Corporation, for a 150,000 SF state-of-the-art three story office building located in Jessup, PA. Construction is underway and is expected to be completed by the summer of 2012.
TMG Health (TMG) is a leading provider of Business Process Outsourcing (BPO) services to national and regional government healthcare markets. TMG currently manages over 2.8 million Medicare and Medicaid members supporting enrolment, service, claims and billing. The new facility will provide for consolidation of 1,200 employees from TMG’s existing Scranton and Dunmore, Pennsylvania locations, while facilitating TMG’s future customer and employment growth plans. The facility will feature dedicated customer service operations call centers, a full service cafeteria kitchen, state of the art training and collaboration room along with a suite executive offices.
For more information contact Elky Wetherill, 484-433-0709.
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81 acres in Newville, PA
Verus Partners has entered into contracts to assemble 81 acres of land for a proposed 1.2 MSF bulk warehouse facility. The property is located along the north side of Ritner Highway, 1.5 miles north of Interstate 81 and Centerville Road (exit 37) in the central PA / Carlisle industrial submarket.
For more information contact Elky Wetherill, 484-433-0709.
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70,500 SF leased at Northport Building D
Verus Partners and ING Real Estate Canada are pleased to announce leases totaling 70,500 SF at Northport Building D, a 110,000-SF prestige industrial building located in Northport Business Park, Edmonton, Alberta. Tenants include Metal Boss, MGM Stone, Toshiba, and Star Mechnical. The building is now 64% leased. Northport Business Park is a 140-acre development located along the west side of 170th ST NW, just north of the Yellowhead Trail.
For more information contact Paul Derksen at 403-538-5443.
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364,000 square feet leased to Accuride
Verus Partners and MetLife are pleased to announce a long-term lease for 364,000 square feet of 5100 Indianapolis Boulevard to Accuride Corporation, one of the leading manufacturers and distributors of components for trucks, trailers and other vehicles. Accuride was represented by Mark Writt, CB Richard Ellis Indianapolis and Keith Reeves, Mohr Partners Dallas, Texas. Building ownership was represented by Luke Wessel and Jeff Castell, CTMT Indianapolis.
For more information contact Tom Theobald, 317-566-2104.
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Northport Building D completed
Verus Partners and ING Real Estate Canada are pleased to announce the completion of construction of Northport Building D, a 110,000-square-foot prestige industrial facility located in Northport Business Park, a 140-acre development in northwest Edmonton, Alberta. 30,000 square feet of Building D is conditionally leased. Improved parcels ranging from 4 to 35 acres are available in the business park.
For more information call Paul Derksen, 403-538-5443
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Pitney Bowes Expands at 5100 Indianapolis Boulevard
Verus Partners and MetLife are pleased to announce the 78,000-square-foot expansion of Pitney Bowes at 5100 Indianapolis Boulevard, Whitestown, Indiana. With this expansion Pitney Bowes occupies 260,000 square feet of the 624,000-square-foot building, which is now 100% leased. Andrew Morris and Jeremy Woods, Summit Realty Group represented Pitney Bowes. Luke Wessel and Jeff Castell, CTMT represented building ownership.
For more information contact Tom Theobald, 317-566-2104
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Lease to Golden State Foods
Verus Partners and MetLife are pleased to announce a long term lease for 60,000 square feet to Golden State Foods at Charlotte Gateway Center, 9510 Rodney Street, Charlotte, NC. Golden State Foods joins Recall Total Information Management as tenants of the building, with 60,000 square feet remaining available for lease. Golden State Foods was represented by John Simmons, Corporate Realty Advisors and Rob Speir, Keystone Partners. Lawrence Shaw and Teddy Chapman of Clarus Properties represented building ownership.
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624,000 sf leased to GSK
Verus Partners and AEW Capital Management are pleased to announce the signing of a long term lease for 100% of 105 Willow Springs Lane, York, Pennsylvania, to GlaxoSmithKline Consumer Products ("GSK"). GSK was represented by John Van Buskirk of Jones Lang LaSalle. Gerry Blineberry, Cushman & Wakefield represented building ownership.
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Lease to Ambassador Medical
Verus Partners and MetLife are pleased to announce a lease for 45,000 square feet to Ambassador Medical, a GE Healthcare Company, at Saxony Corporate Campus Building 100 in Noblesville, Indiana. Todd Vannatta and John Crisp, CTMT represented Ambassador Medical. Jeremy Woods, Summit Realty Group represented building ownership.
For more information contact Tom Theobald, 317-566-2104.
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Calgary portfolio sale
Verus Partners and SITQ are pleased to announce the sale of the Calgary industrial portfolio, consisting of five "Class A" quality buildings totaling approximately 650,000 square feet to Tonko Realty Advisors acting on behalf of HOOPP Realty. CB Richard Ellis Ltd. arranged the transaction on behalf of ownership.
For information contact Paul Derksen, 403-538-5443
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Toronto portfolio sale
Verus Partners and SITQ are pleased to announce the sale of Milton Crossings Business Park, a 660,000 square foot portfolio of Class A warehouse distribution space located in the Toronto area to an affiliate of AMB. CB Richard Ellis Ltd. arranged the transaction on behalf of ownership.
For information contact Chris Broccolo, 847-447-5024
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Lease with Pitney Bowes
Verus Partners and MetLife are pleased to announce a lease for 182,000 square feet with Pitney Bowes, Inc. at 5100 Indianapolis Boulevard, Whitestown, Indiana. This facility is the result of relocation and consolidation of several operations, including the main supply and return hub for Pitney Bowes postage metering equipment. The facility will employ 150 members. Andrew Morris and Jeremy Woods, Summit Realty Group represented Pitney Bowes. Jeff Castell and Luke Wessel of CTMT represented building ownership.
For more information contact Tom Theobald, 317-566-2104.
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Build-to-suit for VF Imagewear - Majestic Athletics
Verus Partners and Cabot Partners are pleased to announce they have been selected by VF Imagewear - Majestic Athletics to design, build and lease a 358,875 square foot manufacturing/warehouse facility on a 40-acre site in Palmer Township, Pennsylvania. VF Corporation is a leader in branded lifestyle apparel, including jeanswear, outdoor products, image apparel, sportswear, and contemporary apparel brands. Bill Wolf and John More, CB Richard Ellis, along with Wayne Troxler from Guilford Realty arranged the transaction on behalf of VF.
For information contact Elky Wetherill, 484-875-3105
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Construction completed on 840 Business Center
Verus Partners and MetLife are pleased to announce the completion of construction of 840 Business Center, a 436,800 square foot bulk warehouse and distribution facility located along Interstate 840 in the east industrial submarket of Nashville, Tennessee. Doug Howard and John Ward, CTMT Nashville, are the leasing agents.
For information contact Tom Theobald, 317-566-2104.
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176 acres acquired in Whitestown, IN
Verus Partners and MetLife acquired 176 acres along Interstate 65 to develop Corridor 65 Business Center in the fast growing northwest industrial submarket of Indianapolis, Indiana. The park is designed for large bulk warehouse and distribution users serving the regional and national marketplace.
For information contact Tom Theobald, 317-566-2104
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New construction in York, PA
Verus Partners and AEW Capital Management acquired 50 acres in York, Pennsylvania and commenced construction of a 624,000 square foot, cross dock, bulk warehouse and distribution building. Gerry Blinebury, Jeff Williams and Steve Cooper of Cushman & Wakefield are the leasing agents.
For information contact Elky Wetherill, 484-875-3105
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240 acres acquired in Joliet, IL
Verus Partners and MetLife have acquired 240 acres along the east side of IL Route 53, approximately 3 miles south of Interstate 80. The site is conveniently located near the BNSF Logistics Park Chicago, one of the largest intermodal facilities in North America. The site will accommodate nearly 3 million square feet of industrial and commercial development. Traci Buckingham and John Suerth, CB Richard Ellis will be the marketing agents.
For information contact Chris Broccolo, 847-447-5024.
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Foothills Industrial Centre 100%leased.
Verus and SITQ are pleased to announce leases for 100% of the space available at Foothills Industrial Centre, a 111,000 square foot office warehouse facility recently completed in the Foothills (Southeast) industrial submarket of Calgary, Alberta. Steve Lelever, Cushman Wakefield LePage is the leasing agent.
For information contact Paul Derksen, 403-538-5443.
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130 acres acquired in northwest Edmonton
Verus Partners and ING Real Estate Canada are pleased to announce the acquisition of 130 acres in the Northwest industrial submarket of Edmonton, Alberta. The site is located along 170th Street immediately north of the Yellowhead freeway. Approximately 1.7 million square feet of industrial and commerical development is planned.
For information contact Paul Derksen, 403-538-5443.
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Construction, 100% leasing completed on 50th Street, Edmonton.
Verus Partners and ING Real Estate Canada are pleased to announce the completion of construction and 100% leasing of the 50th Street Industrial Centre, a 194,000 square foot industrial development located in Edmonton's Southeast industrial submarket.
For information contact Paul Derksen, 403-538-5443.
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500,000 square feet of leasing completed at Milton Crossings.
Verus is pleased to announce leases totaling 500,000 square feet completed at Milton Crossings Business Park, Milton, Ontario. Princess Auto signed a long-term lease for 160,000 square feet, joining Reckitt Benckiser with 191,000 square feet in Building A, now 100% leased. Coremark International signed a long-term lease for 150,000 square feet in Building B, now 50% leased. The project is a joint venture with SITQ. Gil Gordon, Cushman & Wakefield LePage is the leasing agent.
For information contact Chris Broccolo, 847-447-5024.
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24 acres acquired in Louisville.
Verus Partners has acquired 24 acres in the prestigious Riverport development in Louisville, Kentucky. Verus plans to construct a 372,600 square foot cross-dock warehouse and distribution facility begining in 2008. Phil Charmoli, Commerical Kentucky is the leasing agent.
For information contact Tom Theobald, 317-566-2104.
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Verus, SunLife acquire 140 acres in south Edmonton.
Verus and SunLife are pleased to announce the acquisition of 140 acres along QE-2 Highway in south Edmonton. The property is located in the Ellerslie Industrial Area along 41st Street, adjacent to the new CP intermodal yard. The site will accomodate 1.7 million square feet of industrial and commercial space.
For information contact Paul Derksen, 403-538-5443.
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Construction completed of office for Procter & Gamble.
Verus is pleased to announce completion of construction of a 62,610 square foot office building for Procter & Gamble in Fayetteville, Arkansas. The building is located on the north side of Fayetteville, conveniently located to Interstate 540, the University of Arkansas, and WalMart's corporate headquarters. Bob Ryan, CTMT Cincinnati arranged the transaction on behalf of P&G.
For information contact Tim McEnery, 847-447-5025.
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Construction completed of Gateway Distribution Center.
Verus has completed construction of Gateway Distribution Center in Charlotte, North Carolina, a 168,000 square foot office warehouse facilty located in the southwest area of Charlotte. Recall has entered into a lease for 48,000 square feet, leaving 120,000 square feet available for lease. Lawrence Shaw, Clarus Properties is the leasing agent.
For information contact Chris Broccolo, 847-447-5024.
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Construction started on Jessup Lot 10.
Verus Partners and MetLife are pleased to announce construction has started on Jessup Small Business Center Lot 10, a 130,000 square foot office warehouse facility located in the Valley View Business Park near Scranton, Pennsylvania. This is the second project by Verus in this park. The first building, totaling 166,500 square feet is 100% leased. Bill Wolf, CB Richard Ellis is the leasing agent.
For information contact Elky Wetherill, 484-875-3105.
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Construction completed of Saxony 100; 88% leased.
Verus has completed construction of the first phase of Saxony Corporate Campus, Noblesville, Indiana. Building 100 is 90,400 square feet. Weaver Popcorn, Rock Tops and Ambassador Medical have leased approximately 88% of the space. Jeremy Woods, Summit Realty Group is the leasing agent.
For information contact Tom Theobald, 317-566-2104.
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Construction completed on 500 Independence Drive.
500 Independence Drive is a 342,500 square foot bulk warehouse distribution facility developed by Verus and MetLife. Construction was completed in the spring of 2007. The project was sold to AEW Capital Management in a transaction arranged by Pat Lafferty, CB Richard Ellis.
For information contact Elky Wetherill, 484-875-3105.
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Construction completed at 19 Aero Drive in Calgary, Alberta
Verus Partners and SITQ are pleased to announce construction has been completed on the second phase of Deerfoot South Trade Park, a 352,000 square foot development adjacent to the Calgary Airport in the northeast industrial submarket of Calgary. The first building totaling 180,000 square feet is 100% leased to Supply Chain Management. The second building, 19 Aero Drive offers 172,000 square feet.
For information, please contact Paul Derksen, 403-538-5443.
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Eastlake Industrial Centre is 100% leased.
Verus Partners Canada and SITQ are pleased to announce leases totaling 100% of the space at Eastlake Industrial Centre, Calgary, Alberta, a 185,000-square-foot prestige industrial development completed in 2006. Gentek joins PPG Canada, Tyco Health Services, Now Health Group, Stevens Dufour Floor Coverings, Good Water Warehouse, Fairview Fittings and Summit Salon Services.
For information, please contact Paul Derksen, 403-538-5443.
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300 acres acquired in Calgary, Alberta
Verus Partners Canada and ING Real Estate Canada are pleased to announce the formation of a joint venture to develop Saddleridge Business Park, 300 acres adjacent to the Calgary International Airport that will be developed with over 3,500,000 square feet of prestige office, industrial, warehouse and distribution space.
For information, please contact Paul Derksen, 403-538-5443.
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Verus completes 100% leasing at Jessup Small Business Center
Verus Partners is pleased to announce leases for 100% of the building at the Jessup Small Business Center in Jessup, Pennsylvania. Specialty Defense Systems, a division of Armor Holdings Aerospace and Defense Group, signed a long-term lease for 100,000 sf, and BAX Global signed a lease for 66,500 sf. Bill Wolf with CB Richard Ellis represented ownership.
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32 Acres Acquired for Industrial Development in Milton, Ontario
Verus Partners and ING Real Estate Canada are pleased to announce the acquisition of 32 acres in the Town of Milton, Ontario, Canada. The site can accommodate as much as 500,000 square feet of bulk distribution space. The site offers existing rail access, and M-2 zoning permitting outside storage.
For information contact Chris Broccolo, 847-447-5024.
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