|By Marketwired .||
|March 5, 2014 02:19 PM EST||
CHICAGO, IL--(Marketwired - March 05, 2014) - Becknell Industrial announced today financial results for the year ending December 31, 2013.
"Our strategic initiatives implemented in 2012 continued to provide us with many growth opportunities this past year. We successfully enhanced the quality of our portfolio through the purchase of several key assets and top-tier developments for our national clients. We were very pleased to improve the occupancy of our overall portfolio and we look forward to continuing this momentum in 2014," said Dan Harrington, Chief Executive Officer and President.
In-Service Property Results and Leasing Activity
As of December 31, 2013, Becknell owned and controlled 100 in-service properties, totaling 9.4 million square feet. The portfolio was 98.4 percent occupied on a square foot basis, a 177 basis point increase from December 31, 2012.
During 2013, the Company signed new leases totaling 135,400 square feet with a weighted average lease term of 6.2 years. The Company's tenant retention rate was 95.0 percent for the year ending December 31, 2013, renewing nearly 700,000 square feet of leases with leasing spreads of 6.7 percent on average rents and (0.1) percent on cash rents.
During 2013, Becknell completed $51.0 million of acquisitions at a weighted average cap rate of 8.6 percent. These five properties totaled 1.1 million square feet and were 100 percent leased. These included:
- In Jacksonville, Florida, a 240,000 square foot distribution facility leased to PenserSC, a division of Suddath Global Logistics and one of the oldest logistics companies in the southeast;
- Also in Jacksonville, a 240,000 square foot facility leased to Samsonite;
- Located in the Indianapolis, Indiana market, a 250,000 square foot distribution facility leased to Spectra Premium Industries which manufactures fuel delivery and heat exchange automotive systems;
- In Maple Grove, Minnesota, a 195,200 square foot distribution facility leased to Gannett Company, a media and marketing solutions company with a diverse portfolio of broadcast, digital, mobile and publishing companies; and
- Located in St. Louis, Missouri, an 185,400 square foot distribution facility leased to Unisource which specializes is commercial and business printing, packaging and facility systems and supplies.
During 2013, Becknell Industrial placed in-service six developments totaling $35.7 million. Combined, these developments include more than 368,300 square feet and have a weighted average lease term of nearly 13 years. As of December 31, 2013, the Company had four additional projects under active development with a total projected investment of $62.2 million. These developments total 895,300 square feet and are 100 percent leased to key repeat customers.
Development highlights include the following new starts:
- In Alsip, Illinois, a 45,000 square foot distribution depot;
- A 20,000 square foot distribution depot in Richland, Mississippi;
- In Tatamy, Pennsylvania, a 100,300 distribution facility;
- A 730,000 square foot distribution facility in Champaign, Illinois; and
- In September 2013, Becknell purchased 52 acres of undeveloped land on the northwest side of Indianapolis which can support up to 600,000 square feet of build-to-suit development.
"For 2014, we will continue to strengthen our operating platform to enhance our ability to meet our customers' distribution needs nationwide. Additionally, we continue to pursue strategic acquisitions that create significant value and further improve the quality and cash-flow growth potential of our portfolio," said Mark Shapland, Executive Vice President - Chief Operating Officer.
About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in 104 properties totaling 10.3 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell Industrial can be found at becknellindustrial.com.
Shona L. Bedwell
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 24, 2016 02:15 PM EDT Reads: 3,981
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Oct. 24, 2016 02:15 PM EDT Reads: 3,903
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 24, 2016 02:00 PM EDT Reads: 34,144
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
Oct. 24, 2016 01:15 PM EDT Reads: 1,447
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 24, 2016 01:00 PM EDT Reads: 1,002
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 24, 2016 01:00 PM EDT Reads: 830
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 24, 2016 01:00 PM EDT Reads: 860
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 12:45 PM EDT Reads: 4,708
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
Oct. 24, 2016 12:30 PM EDT Reads: 1,209
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 12:30 PM EDT Reads: 989
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 24, 2016 12:15 PM EDT Reads: 8,414
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,312
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,518
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,871
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 24, 2016 10:30 AM EDT Reads: 834