Small Bay Daily - April 3 - Faropoint buys 5 industrial properties in the Northeastern US

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NEWS ROUNDUP

ACQUISITION: Faropoint buys 5 industrial properties in the Northeastern US. Faropoint has added to its portfolio of flex industrial assets with the acquisition of 5 strategically located properties in Northern and Central New Jersey, Long Island, and Philadelphia. The Faropoint deal team included Itay Ron, Orry Michael, Samuel Horowitz, Matthew Bernstein, Benjamin Wachs, Ian Murphy, Anna Mo, Omer Ben-Zur, James Harry Calamia, Andrew Randolph, Cory Ehrentreu, Eloy Huamanchumo, and Brett Kaye. Brokers involved in the transactions included Tom Nuara with Resource Realty, Chad Hillyer with CBRE, Isaac Setton with KSR, Tyler Peck with JLL, and Jeffrey and Jared Licht with NAI Mertz. The recently acquired properties are:

• 6 Evans Street in Fairfield, New Jersey — 27,999 SF

• 155 Pierce Street in Somerset, New Jersey — 43,453 SF

• 4315 New Brunswick Avenue in South Plainfield, New Jersey — 26,904 SF

• 130 Baylis Road in Melville, New York — 40,619 SF

• 150 Rittenhouse Circle in Bristol, Pennsylvania — 101,250 SF

ACQUISITION: CRE Capital Management buys Atlanta area small bay for $750K. CRE Capital Management, along with equity partner Eleventh Street Partners, has acquired 2031 Gees Mill Road Northeast in Conyers, Georgia. The property features a fully-leased 7,200 SF industrial building. Abhi Acharya led the CRE deal team. Mark Thomas and Addison Wootton with Lee & Associates facilitated the sale.

ACQUISITION: Sitex buys shallow bay portfolio in Fort Lauderdale, FL. Sitex Group has acquired 3580-3590 Northwest 56th Street in Fort Lauderdale, Florida. The property features 2 fully-leased industrial buildings totaling 53,200 SF. The Sitex deal team was led by Jackson Kaplan. Greg Milopoulos with Lee & Associates represented Sitex in the transaction.

ACQUISITION: Greenwich Street Capital buys flex industrial site in Ogden, UT. Greenwich Street Capital (GSC) has acquired 1355 West 3300 South in Ogden, Utah. The property features flex units totaling 66,000 SF. The GSC deal team was led by Conner Thomas. Ben Tracy with Matthews Real Estate Investment Services facilitated the transaction.

LEASE SIGNED: SRS leases small bay facility in Los Angeles area. SRS Real Estate Partners has facilitated the leasing of 11,850 SF at 6291 Burnham Avenue in Buena Park, California. Nick Krakower and RJ Dumke with SRS represented the landlord in the transaction.

READ: Why demand for Class B industrial assets remains high. “Vintage buildings play a pivotal role in the industrial real estate landscape, offering cost-effective options to occupiers while being situated in highly-desirable locations near densely-populated areas.” — Tom Harmon of Bridge Industrial

SMALL BAY PROPERTIES FOR SALE

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49,845 SF | 2.6 AC | 10 Units | Below-Market Rents | 8.53% Year-5 Pro-forma Cap Rate | WALT Less Than 2.5 Years | Prominently Positioned at the Intersection of I-35N and Loop 410 | Close to Downtown San Antonio

31,205 SF | 2.5 AC | Easily Divisible | 12’-19’ Clear Heights | 3 Loading Docks | 2 Drive-in Doors | Immediate Access to I-495 | Close to I-95 and MA-24

16,000 SF | 1.49 AC | Fully Leased to 4 Tenants | 16’ Clear Height | (4) 10’x12’ Drive-in Doors | Close to US-41, US-301, and I-75

SMALL BAY PROPERTIES FOR LEASE

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750-10,400 SF Available | 12’x14’ Grade-Level Doors | 18’ Ceiling Height | On-site Property Management and a Park-Like Feel | Conveniently Located

4,800 SF | (3) 10’x10’ Roll-up Doors | (1) 12’x12’ Roll-up Door | 12’6”-13’7” Ceiling Heights | 3-Phase Power | Shared Yard Area With Rolling Gate and Fencing

5,500-11,000 SF Available | 9’-12’ Ceiling Heights | Warehouse-Only Bays Available | Dock and Drive-in Access | Some Outdoor Storage Allowed

ONE MORE THING

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