Small Bay Daily - April 29 - Obsidian buys Minneapolis small bay portfolio for $9.05M

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NEWS ROUNDUP

ACQUISITION: Obsidian buys small bay portfolio in Minneapolis for $9.05M. Obsidian Group and sister company Onyx Strategic Partners have acquired 10803 93rd Avenue North and 10650 County Road 81 in Maple Grove, Minnesota. Combined, the 2 properties total roughly 100,000 SF and are the first acquisitions in Obsidian’s small bay industrial value-add fund. The Obsidian/Onyx deal team included Ethan Finger, Jessica Houlihan, Brad Heitzinger, Daniel Kurkowski, Sam Carter, Jasper Gantriis, Ariana Jesh, and Sarah Frakes. Peter Loehrer with Colliers facilitated the sale. Scott Ramsdale with Wings Financial Credit Union provided the financing.

DISPOSITION: Marcus & Millichap sells small bay property in Miami for $8.6M. Marcus & Millichap has facilitated the sale of 14080-14118 Southwest 139th Court in Miami, Florida. The property features a 34,540 SF small bay industrial building. Alex Zylberglait and Michael Crocchiola with M&M represented the seller and procured the buyer in the off-market transaction.

ACQUISITION: Victory Ventures buys shallow bay facility in Dallas, TX area. Victory Ventures has acquired 13619-13625 Neutron Road in Farmers Branch, Texas. The property features a 22,000 SF multi-tenant building. The Victory deal team included Logan Lubke and Casey Griffis.

LEASE SIGNED: Fort leases shallow bay building in Houston, TX. Fort Cos. has facilitated the leasing of 16623 Aldine Westfield Road in Houston, Texas. The property features a 33,407 SF industrial building. The new tenant is SteelCon Inc. The Fort deal team was led by Ryan Young.

FINANCING: Gantry closes $15M acquisition loan for Bay Area industrial park. Gantry has secured a $15M permanent loan for the acquisition of North Canyon Business Center, located at 3025-3095 Independence Drive in Livermore, California. The property features 6 flex buildings totaling 105,000 SF. Tony Kaufmann and Joe Foley with Gantry represented the borrower, a private real estate investor.

LISTEN: A deep-dive conversation about financing small bay industrial deals. The Oil Gas & Real Estate podcast’s Gary Covert speaks with David Kotter of Hybrid Debt Fund and David Bean of Commercial Properties.

SMALL BAY PROPERTIES FOR SALE

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26,477 SF | 0.98 AC | ~15,000 SF Warehouse Space | ~5,000 SF Office Space | ~5,000 SF Mezzanine/Flex Space | 40’ Clear Height | Loading Docks with Drive-in Doors | Close to I-287 (NY State Thruway), US-9W, and NY-304

22,500 SF | 2.1 AC | 100% Leased | 2.8 Years of WALT | 3 Dock Doors and 1 Ramp | Easy Access to I-55/70, I-255, I-270, and I-64

16,000 SF Total | 6,160 SF Office | 0.92 AC | (2) 4,000 SF Yards | 21’ Clear Height | (1) 12’x14’ Door, plus 3 Framed-in Door Openings | 3-Phase Power | Roof Replaced

SMALL BAY PROPERTIES FOR LEASE

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6,000-20,000 SF | 2 Spaces Available | Easy Access to I-95 and MD-100 | 20’ Clear Height | Dock Loading | Public Utilities | Sprinklered

1,320 SF | End Unit | 13’10”-16’ Clear Heights | (1) 12’x12’ Roll-up Door | Modified Gross Lease + Electric | Easy Access to I-275 and US-92 | 2 Parking Spaces

15,550 SF | 4-5 Offices | 3 Dock Doors | 1 Drive-in Doors | Heated

ONE MORE THING

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