Modern logistics facility is fully occupied by leading solar energy and manufacturing firm, First Solar

INDIANAPOLIS – Ambrose, a leading vertically integrated investment manager specializing in Class A industrial, logistics and e-commerce real estate, announced today the sale of a 554,000-square-foot, Class A distribution hub situated on more than 40 acres at 1250 Cooperage Way in Trinity, AL, located within the Greater Huntsville, AL region. The modern facility is fully occupied by First Solar, a U.S.-based photovoltaic solar technology and manufacturing company. The buyer is global investment bank Goldman Sachs (NYSE: GS).

Ambrose developed the asset, working closely with First Solar end-to-end throughout the design, construction and financing of the project. The state-of-the-art facility includes 40-foot clear heights, 40 docks, 80 auto parking spots, 36 trailer parking spots and truck courts with 150-foot depths. The facility houses machinery, raw materials and equipment for use in First Solar’s adjacent, recently completed manufacturing facility.

“This successful investment exit underscores the Ambrose team’s multidisciplinary capability in the development and strategic positioning of this asset to achieve an attractive outcome amid the current market environment,” said Ambrose Founder and CEO Aasif Bade. “This transaction is also indicative of the institutional market’s appetite for modern, high-quality Class A logistics facilities that meet the needs of today’s sophisticated, tech-forward tenants.”

First Solar, founded in 1999, is America’s leading photovoltaic solar technology and manufacturing company, and is the only U.S.-headquartered company among the world’s largest solar manufacturers. Importantly, the distribution hub is located less than one mile from First Solar’s newly opened $1.1B production facility, and it is part of an investment strategy that will scale First Solar’s manufacturing footprint in the U.S. to more than 10 GWDC (Gigawatt Direct Current) and generate over 700 new jobs in the Alabama market.  

“At Ambrose, our build-to-suit philosophy is rooted in a spirit of hands-on collaboration and a relentless commitment to our clients’ visions,” said Scott Sanders, Senior Vice President, Deployment and National Build-to-Suit Officer at Ambrose. “We are proud to have played an impactful role in supporting their growth by delivering a real estate solution tailored to meet the needs of First Solar’s growing business today, while positioning it for continued evolution and advancement.”

Ambrose was represented in the transaction by the JLL Capital Markets team that included John Huguenard and Will McCormack.

Niagara Bottling and Meyer Tool take space at modern facility as Ambrose expands industrial footprint in Florida

PALM BEACH – Ambrose, a leading vertically integrated investment manager specializing in Class A industrial, logistics and e-commerce real estate, announced today the full lease-up of Palm Beach Park of Commerce, a 246,000-square-foot Class A industrial facility located at 15810 Walgreens Drive in Jupiter, Florida, just 15 miles north of West Palm Beach. Niagara Bottling, a leading bottled water company, and Meyer Tool, a high-tech aerospace parts manufacturer, have both signed leases at the building. The LEED Silver-certified property is now fully occupied, marking a milestone for Ambrose’s growing Florida presence. The firm is also nearing the completion of five other Class A industrial facilities in the region – Orlando Logistics Park at LeeVista Buildings I, II and III in Orlando and Alico ITEC Logistics Park Buildings I and II located in Fort Myers.

Strategically located on an approxmately 17-acre site just off of Beeline Highway in Palm Beach County, Palm Beach Park of Commerce offers convenient access to the region’s extensive transportation network – including air and seaports – with nearly 14 million people located within a day’s drive of the facility. The modern facility features 32’ clear heights, 263 automobile parking spaces, 72 trailer parking spaces, 53 docks and two drive-in doors. The industrial park is also home to notable logistics tenants including Amazon, Walgreens and CSX, among others.

“The successful lease-up of this modern industrial facility is a reflection of Ambrose’s depth of local market expertise and our exceptional, hands-on approach to providing the most effective leasing and operations solutions for these industry-leading firms,” said Aasif Bade, CEO and Founder of Ambrose. “We look forward to continuing to execute our strategy of developing, acquiring and operating high-quality properties in highly competitive Florida submarkets that are characterized by favorable supply-demand dynamics, consumer patterns and critical infrastructure connectivity.”  

Niagara Bottling, the largest family-owned and operated bottled water company in the country, is a national leader in private label beverage manufacturing. The firm is focused on single-serve bottled water and other beverages for grocery, club store, convenience and wholesale customers and has more than 50 production facilities throughout the U.S. and Mexico. Meyer Tool is a privately held, high-tech manufacturer with 13 facilities across North America and Europe specializing in precision components for the aerospace and gas turbine engine industries.

Following the lease-up of Palm Beach Park of Commerce, Ambrose anticipates completing construction of Buildings I, II and III in Orlando Logistics Park at LeeVista and Buildings I and II in Alico ITEC Logistics Park in Fort Myers before the end of the year. Orlando Logistics Park at LeeVista is located directly north of Orlando International Airport and covers 71 acres. The three buildings total 673,206 square feet and approximately 5,600 square feet of office space, with spaces available ranging from 25,000 to 349,795 square feet. Alico ITEC Logistics Park – situated on 25 acres just south of the RSW Southwest Florida International Airport and major FedEx and UPS hubs – comprises two buildings. Building I is 195,021 square feet, and Building II has 67,038 square feet stilll available within a 185,216-square-foot building footprint. Buildings across both parks  are currently seeking LEED certification.

Dave Loudenslager, Ambrose’s Vice President and Florida Market Officer, added, “These milestones demonstrate our commitment to delivering high-quality, strategically located industrial facilities that meet the evolving needs of Florida industrial and logistics tenants. With five state-of-the-art, Class A buildings nearing completion across Orlando Logistics Park and Alico ITEC Logistics Park in Fort Myers, the Ambrose team is energized by the momentum and dedicated to supporting the region’s dynamic logistics and distribution ecosystem.”

Allison Rennaker, Jack Thompson and Victoria Bulmahn to fill operations, development and internal support roles at Indianapolis-based industrial real estate investment manager

INDIANAPOLIS – Ambrose, a leading vertically integrated investment management firm specializing in Class A industrial, logistics and e-commerce real estate, announced today that it has added Allison Rennaker as property operations manager, Jack Thompson as development associate and Victoria Bulmahn as administrative assistant. These new additions to the Ambrose team follow recently announced companywide promotions as the firm continues to position its investment and operations platform to capitalize on strategic growth opportunities amid challenging market dynamics.

“We’re excited to welcome Allison, Jack and Victoria to the Ambrose team,” said Executive Vice President and COO Grant Goldman. “Each of them brings unique expertise that will help strengthen key areas of our platform — from operations and development to internal support — as we continue to grow and deliver best-in-class service to our investors and tenants.”

As property operations manager, Rennaker will support key asset management initiatives, including oversight of third-party management firms, property budgeting and the implementation of standardized systems and processes. Rennaker joins Ambrose from GLP US, now a part of Ares Management Corporation (NYSE: ARES), where as construction coordinator she supported their construction team with documentation management, technology implementation and process optimization. Prior to that, she spent seven years with Prologis (NYSE: PLD) where she held multiple roles in property and project administration. Rennaker holds a Bachelor of Science in organizational leadership and supervision from Purdue University.

As development associate, Thompson will join Ambrose’s national build-to-suit team in developing and executing projects for clients across the United States. He previously interned with Ambrose prior to receiving his degree from Purdue University. Thompson holds a Bachelor of Science in integrated business and engineering with a minor in real estate finance.  As administrative assistant, Bulmahn will provide overall administrative support to the Ambrose team, including front desk and office management. She holds a bachelor’s degree in communications and media studies from Valparaiso University.