Small Bay Daily - April 21 - Marcus & Millichap sells Long Island small bay portfolio for $54.22M

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NEWS ROUNDUP

DISPOSITION: Marcus & Millichap sells Long Island small- and mid-bay portfolio for $54.22M. Marcus & Millichap has facilitated the sale of a 5-property industrial portfolio in Long Island, New York. The portfolio features multi-tenant small- and mid-bay space totaling 275,938 SF. Michael Tuccillo and Anthony Cerrone with Marcus & Millichap represented the seller, Howard Katz Realty & Construction, and procured the buyer, Spiegel Associates.

ACQUISITION: Holiner brokers sale of small bay park in Dallas-Fort Worth area. Holiner has facilitated the sale of Oakhollow Business Park, located at 2401 Avenue J in Arlington, Texas. The property features 3 multi-tenant industrial buildings totaling 84,400 SF and is 89% leased to 25 tenants. Tommy Landry and David Holiner with Holiner represented the buyer in the transaction.

ACQUISITION: Dunleer buys small bay asset in Los Angeles area for $10.55M. Dunleer has acquired 7502-7536 Tyrone Avenue in Van Nuys, California. The property features a 34,336 SF Class A multi-tenant industrial building that is currently 100% occupied. BJ Turner led the Dunleer deal team in the transaction.

LEASE SIGNED: GLD Commercial leases small bay space in Cedar Rapids, IA. GLD Commercial has facilitated the leasing of 2,418 SF of warehouse/office space at 1756 E Avenue Northeast in Cedar Rapids, Iowa. Adam Gibbs and Michael Gibbs led the GLD Commercial deal team.

LEASE SIGNED: Stack Industrial Partners leases Twin Cities shallow bay space. Stack Industrial Partners has facilitated the leasing of 20,000 SF at 917 Lone Oak Road in Eagan, Minnesota. Ben Youds with Stack represented the tenant, MEI Total Elevator Solutions, in the transaction.

FINANCING: JLL Capital Markets arranges $35.7M refi loan for shallow bay portfolio. On behalf of COFE Properties, JLL Capital Markets has arranged a refinancing loan for a portfolio of shallow bay industrial assets in Atlanta. The portfolio totals 397,959 SF across 7 buildings. Synovus provided the note. Melissa Rose, Bobby Norwood, Nicole Diaz, and Preston Bacon led the JLL Capital Markets debt advisory team.

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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

226,500 SF | 6-Building Business Park | 62% Occupied | 4.6-Year WALT and 7.8-Year WATT | Parking Ratio: 6.8 Spaces per 1,000 SF | 2 Fully Occupied Buildings in the Portfolio Feature Enhanced Clear Heights of 20’ and 9 Dock-High Roll-up Doors | Direct Access to I-95 and US-1

SMALL BAY PROPERTIES FOR LEASE

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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

2,808 SF Available | 35’x33’ Air-Conditioned Warehouse | 12’x26’ Garage Bay with Van-High Drive-in Loading | 5 Private Offices, 2 Restrooms, Reception Area, and Kitchen | Sprinklered | 9 Dedicated Parking Spaces | Minutes from Boulder, Denver, and Jefferson Co. Airport

2,580-5,160 SF | 2 Spaces Available | 26’ Ceiling Height | Sprinklered | 1-2 Street Level Loading | Mezzanine | Polished Concrete Floors | Easy Access to FL-836 Ext., Florida Turnpike, Dolphin Expressway, and Major South Florida Thoroughfares

ONE MORE THING

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