Small Bay Daily - April 22 - CIP Real Estate buys shallow bay park in Atlanta MSA for $37M

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NEWS ROUNDUP

ACQUISITION: CIP Real Estate buys shallow bay park in Atlanta MSA for $37M. CIP Real Estate has acquired Lavista Business Park, located at 2000-2068 Weems Road in Tucker, Georgia. The property features 4 multi-tenant industrial buildings totaling 217,496 SF. The seller was ATCAP Partners. Mike Ryan, Brian Linnihan, Richard Henry, and Taylor Crowder with CBRE secured a $26.3M acquisition loan from LoanCore Capital on behalf of the buyer.

DISPOSITION: Digby sells Denver, CO area small bay warehouse for $3.15M. Digby Commercial Advisors has facilitated the sale of 4700 West 6th Avenue in Arvada, Colorado. The property includes a 15,300 SF warehouse. The Digby deal team was led by Tanner Digby and Wade Wilson.

DISPOSITION: Whitney Commercial sells Asheville area small bay for $2.35M. Whitney Commercial Real Estate Services has facilitated the sale of 35-37 Loop Road in Arden, North Carolina. The property features 2 multi-tenant buildings totaling 17,520 SF. James Harrison with Whitney Commercial represented the seller in the transaction.

ACQUISITION: Aspen Oak buys small bay asset in Dallas-Fort Worth, TX area. Aspen Oak has acquired 3101-3109 East Avenue E in Arlington, Texas. The property features a 25,164 SF multi-tenant industrial facility with 5 suites. The Aspen Oak deal team was led by Colby Everett. Riley Maxwell with Transwestern facilitated the sale and will market the property for lease.

LEASE SIGNED: Legacy Capital Partners leases Jacksonville, FL shallow bay. Legacy Capital Partners has fully leased 5919 Commonwealth Avenue in Jacksonville, Florida. The property includes a 28,734 SF warehouse plus 1.5 acres of industrial outdoor storage (IOS). Michael Cassidy with Colliers and Trina Wedekind with Platinum Realty Group facilitated the deal. (If you’re interested in IOS, check out our sister publication IOS List.)

READ: Why small bay industrial properties are ‘essential real estate’. “It’s all types of typically small and medium-sized businesses who have a need for warehouse space and need to be in these infill, dense locations because their customer base is the local community.” — Brian Abers of Captiva Partners

SMALL BAY PROPERTIES FOR SALE

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22,500 SF | 2.1 AC | 100% Leased to 6 Tenants | Units Ranging from 1,500-3,425 SF | 3 Dock Doors | 1 Ramp | Easy Access to I-55/70, I-255, I-270, and I-64

38,706 SF Total | 1.93 AC | 2 Buildings | 91% Leased | Below-Market Rents | Close to US-90

9,488 SF | 0.52 AC | 5 Units | Boat Dock Access | Short-Term Expiring Leases | 100% Occupied

SMALL BAY PROPERTIES FOR LEASE

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7,000-18,000 SF | Can Add Additional Grade-Level Doors | 3-Phase Power | Close Proximity to I-635 | Suites Can Be 100% HVAC | Recently Painted Exterior

5,380 SF | 18’ Clear Height | (1) 10’x12’ Dock-High Door | 3-Phase Power | 2 Private Offices | Reception Area | Close Proximity to US-17-92 and I-4

7,604 SF | Small Office | 1 Dock and 1 Door with Ramp | 3,000 SF Outdoor Storage | Close to I-440, Capital Boulevard, and Downtown Raleigh

ONE MORE THING

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