Small Bay Daily - April 8 - Arden Logistics refinances 5 shallow bay properties for $99.1M

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NEWS ROUNDUP

FINANCING: Arden Logistics refinances 5 multi-tenant properties for $99.1M. Arden Logistics Parks has refinanced 5 shallow bay industrial parks with a $99.1 million floating-rate loan from Ares Management Real Estate. The portfolio comprises 11 buildings totaling more than 765,00 SF in Florida, Illinois, and North Carolina. Lauren Kaufman, Geoff Goldstein, and Jillian Mariutti with JLL Capital Markets arranged the refinancing.

ACQUISITION: Faropoint buys small bay facility in LA area for $9.975M. Faropoint has acquired 605-655 Hawaii Avenue in Torrance, California. This marks the firm’s first Los Angeles area acquisition. The property features a 36,491 SF facility currently leased to 4 tenants. The Faropoint deal team included Harold Levy, Zev Fagan, and Jordan Nathan.

DISPOSITION: Newmark sells shallow bay facility in Chicago, IL metro area. Newmark has facilitated the sale of Old Willow Industrial Complex, located at 1440-1515 Paddock Drive and 2710 Old Willow Road in Glenview, Illinois. The property features 12 buildings that total 60,721 SF and are 92% leased. The Newmark deal team included Mark Lyman, Peter Harwood, Mary Gilbank, Thomas Gath, James Postweiler, Derek Fohl, and Jack Trager.

DISPOSITION: JLL sells shallow bay industrial park in Charlotte, NC area. JLL Capital Markets has facilitated the sale of Oates Crossing, a shallow bay industrial park located at 105 and 115 Corporate Center Drive and 120 and 128 Talbert Road in Mooresville, North Carolina. The property features 4 multi-tenant buildings totaling 237,734 SF. Dave Andrews, Pete Pittroff, Michael Scarnato, Zachary Lloyd, Michael Lewis, and Allan Parrott with JLL represented the seller, Atlanta Property Group, in the transaction. The buyer was LM Real Estate Partners.

LEASE SIGNED: First Capital leases small bay warehouse in Central Florida. First Capital Property Group has facilitated the leasing of 5,209 SF of industrial space in Phase 2 of the Coleman Flex Business Park. The property is located at 2836 County Road 523 in Coleman, Florida. The new tenant is Women of Gold LLC. The First Capital deal team included Bryan Richardson, Ben Kuykendall, and Dan Van Nada.

READ: New BKM white paper explores the potential of small bay industrial.

SMALL BAY PROPERTIES FOR SALE

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432,251 SF | 28.5 AC | 8 Buildings | 97% Leased | Immediate Access to I-95, Fairfax Co. Parkway, and I-495 Capital Beltway

36,100 SF | 2.87 AC | 13 Tenants | 100% Occupied | Brand-New Roof with 20-Year Warranty | New HVAC Units | New Tenant Signage | Below Market Rents

125,500 SF | 2 Buildings | 2 Units | 18’ Clear Height | 3-Phase Power

SMALL BAY PROPERTIES FOR LEASE

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15,900 SF | Mix of Warehousing, Office, and Showroom Space | 4 Grade-Level Doors and 1 Dock-Level Loading Door | Quick Access to Dixie Highway and I-95

945-1,680 SF Units | 15 Total Units | 16’8” Clear Height | 12’x14’ Grade-Level Doors | 1 Restroom and Shop Sink per Unit | 3 Phase Power

2,976-20,998 SF | 21’-26’ Pitched Roof | Office Build-to-Suit | Drive-In Doors

ONE MORE THING

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