Small Bay Daily - April 16 - Dalfen Industrial buys 1.38M SF shallow bay portfolio from Mapletree for $207.5M

Good morning. Welcome to Small Bay List!

In today’s issue, we cover Dalfen’s recent 1.38M SF portfolio acquisition and a shallow bay park in Atlanta that sold for $15.55M.

Now, let’s get to it!

NEWS ROUNDUP

ACQUISITION: Dalfen buys 1.38M SF shallow bay portfolio from Mapletree for $207.5M. Dalfen Industrial has acquired a portfolio of shallow bay and midbay industrial properties from Mapletree Investments. The portfolio includes 19 assets distributed across the US: 13 properties in the Dallas-Fort Worth metro area, 4 in Chicago, 1 in Cincinnati, and 1 in Indianapolis. The Dalfen deal team included Sean Dalfen, Richard Weiss, John Lettieri, Eli Ray, Baron Stanton, Christine Choi Moore, and AJ Kucinski. The Mapletree deal team included Richard Prokup and John Paul Chua. Jack Fraker, Dom Espinosa, Dustin Volz, Joshua Villarreal, and Travis McEldowney with Newmark facilitated the transaction.

DISPOSITION: Industry RE Partners sells shallow bay park in Atlanta for $15.55M. Industry Real Estate Partners has facilitated the off-market sale of 3940 Shirley Drive in Atlanta, Georgia. The property features 3 multi-tenant buildings totaling 134,172 SF. Stephen Pond, Chip Sipple, and Jeff Henson with Industry RE Partners represented the seller, Middour Investments, led by Owen Middour. The buyers were Hersh Equity Group — led by Juda Hersh, Corey Schwartz, Jake Stauber, and Steven Ginsberg — and Mindful Capital Group, led by Patrick Carney.

ACQUISITION: Dunbar RE Investment Management buys small bay asset in LA. Dunbar Real Estate Investment Management has acquired West Oaks Park, located at 30941-30961 Agoura Road in Westlake Village, California. The property totals 64,600 SF of multi-tenant space and was 92% leased at closing. Ross Mitchell led the Dunbar deal team. James DeBuiser with Marcus & Millichap facilitated the transaction.

DISPOSITION: CBRE sells Denver area flex-industrial park. CBRE has facilitated the sale of Creekside Business Center, located at 1921 Corporate Creek Circle, 1811 Pike Road, and 1900 South Sunset Street in Longmont, Colorado. The portfolio features 3 buildings that are currently 53% leased to 9 tenants. The CBRE deal team included Tyler Carner, Jeremy Ballenger, Alexei Andrea, Brynn Touchstone, and Morgan Dunn.

ACQUISITION: TruCore buys industrial 2-pack in Houston and San Antonio. TruCore Industrial has acquired a portfolio of industrial assets in Texas: 6390 Fairdale Drive in San Antonio and 5910 Hamblen Drive in Humble (Houston MSA). The portfolio totals 72,710 SF across 5.43 AC and includes industrial outdoor storage (IOS) space. Both properties are currently 100% leased to Sparkstone Electrical Group. The TruCore Industrial deal team included Zachary Harris. (Interested in IOS? Check out our sister publication IOS List.)

GROUNDBREAKING: IndiCap and VAC break ground on shallow bay project in Phoenix metro. IndiCap and VAC Development, in partnership with Mar-Gulf Management and MDI Capital, have broken ground on Chandler Bay, a new Class A shallow bay industrial project located at 1820 East Germann Road in Chandler, Arizona. When completed, the $25.3M project will feature a multi-tenant building totaling 110,481 SF. Mike Chernine leads the IndiCap team, while the VAC team is led by Andrew Dunn. Ken McQueen, Chris McClurg, and Blake Peters with Lee & Associates are currently marketing the property for lease.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

119,000 SF | 4 Buildings | 20’ Clear Height | Grade-Level and Dock-High Doors | Convertible Punch-outs for Roll-up Door Installation | 2.9 AC That Could Be Used for IOS or Developed to Add ~18,000 SF | Easy Access to Polk Parkway and US-98

50,784 SF | Class A 2024 Build | 96% Occupancy Submarket | Within Established Logistics Corridor | 20’ Clear Height | 4 Dock-High Doors | 4 Drive-in Doors | Close to I-65, I-90, I-94, and US-30 | Asking Price: $9,300,000

28,700 SF Shallow Bay Warehouse and 2,300 SF Service Warehouse | 6.6 AC | Paved, Fenced, and Lit IOS Yard Space | 100% Leased to 2 Tenants | 17 Total Loading Doors | 24’ Clear Height in Warehouse | Infill Port of VA Location | Close to I-64, I-464, and I-664

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

20,000 SF Available | 24’ Clear Height | 1,000 SF Office | 2 Dock Doors with Knockouts | 2 Drive-in Doors | LED Lighting | Wet Sprinkler | Ample Car/Trailer Parking | Close to US-222 Business, PA-12, I-78, Reading, and Allentown

(7) 1,600-3,000 SF Suites Available | 12’-18’ Clear Heights | Minutes from Hwy 10 | Drive-in Doors | Perfect for Small Businesses, Contractors and Auto-Related Companies (with a Permit)

(2) 2,500-3,200 SF Suites Available | 16’-18’ Clear Heights | Private Restrooms | Street-Level Loading Doors | 3,200 SF Unit Has Dedicated Office Space | Close to US-1 and Ronald Reagan Turnpike

ONE MORE THING

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