Small Bay Daily - August 13 - Topaz Capital launches platform with focus on small bay industrial, IOS

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NEWS ROUNDUP

LAUNCH: Topaz Capital launches platform with focus on small bay industrial, IOS. Topaz Capital Group has launched Topaz IOS & SB, a discretionary industrial platform acquiring IOS, low-coverage, small bay, and midbay assets across Florida, Georgia, North Carolina, and South Carolina. The platform buys on its own capital and its own timeline, rather than raising on a deal-by-deal basis. Alongside straight yard deals, Topaz is active on sale-leasebacks, contractor yards, service industrial and airport flex, sources broker-led and pays full-market commissions. Topaz was founded in 2017 and has closed over $500M across 20-plus investments. Marc A. Hershberg and J. Etan Friedman lead the Topaz team.

ACQUISITION: EAST Capital, Westport JV buys Northern NJ shallow bay portfolio for $17.28M. EAST Capital Partners, in partnership with Westport Capital Partners, has acquired 53 West Century Road in Paramus, 100 Galway Place in Teaneck, and 490 South Dean Street in Englewood, New Jersey. The portfolio consists of 3 buildings totaling 72,956 SF. David Archibald and Drew DeWitt led the EAST Capital Partners deal team. Sean Armstrong led the Westport Capital Partners team. The seller was Cabot Properties, led by Franz Colloredo-Mansfield. Jason Lundy, Nick Stefans, Ryan Cottone, and Luke Ceccoli with JLL facilitated the transaction. Ryan Carroll — also with JLL — arranged $9.7M in acquisition financing from Aegon Asset Management for the deal.

ACQUISITION: Equus Capital Partners buys Class A industrial park in Atlanta metro. An affiliate of Equus Capital Partners has acquired Allatoona Business Center, located off US-41 in Cartersville, Georgia. The property features 3 multi-tenant buildings totaling 569,132 SF, with suites ranging from 23,000-191,000 SF. Tim Feron, Tucker Scaringe, and Alex Mazur led the Equus deal team. Trey Barry, Brian Linnihan, and George Fallon with CBRE represented the seller.

DISPOSITION: Kassin Sabbagh Realty sells small bay asset in Northern Virginia. Kassin Sabbagh Realty (KSR) has facilitated the sale of 7398 Ward Park Lane in Springfield, Virginia. The property features a 43,552 SF multi-tenant industrial building. The seller was Kadima Industrial Partners, led by Aaron Malitzky and Ariel Tambor. The buyer was NorthBridge Partners, led by Greg Lauze. Steven Pollan and Shaya Nisnevitz with KSR brought both sides of the deal together.

ACQUISITION: Person Street Partners buys small bay asset in Charlotte metro area. Person Street Partners has acquired 1201 and 1237 Industrial Drive in Matthews, North Carolina. The property features 2 buildings totaling 25,000 SF on 2.4 AC and is 100% leased. The Person Street deal team included Jake Jatis, Brannen Blazer, and Griffin Py. Alex Olofson with Foundry Commercial and Ryan Pilsy with Coldwell Banker Commercial facilitated the transaction, along with David Miller at Longleaf Law Partners.

LEASE SIGNED: Cushman & Wakefield leases small bay space in Las Vegas. Cushman & Wakefield has facilitated the leasing of 3955 West Mesa Vista Avenue, Suite A13, in Las Vegas, Nevada. The leased suite offers 10,942 SF of industrial space. The CushWake deal team included Alma Cuevas, Jason Griffis, Michael Scher, and Rachel Kocka.

FROM OUR PARTNERS

As experienced industrial operators, we understand the unique dynamics of Small Bay assets. Our high leverage lending solutions are designed for Industrial, providing the flexibility investors and operators need to execute on their business plan.

SMALL BAY PROPERTIES FOR SALE

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17,820 SF | 1.66 AC | 27 Small Bay/Self-Storage Units Averaging 660 SF Each | Currently 96% Leased | Steel-and-Masonry Construction with Metal Exterior Walls and Roof, Concrete Slab Foundation and Flooring, Metal Roll-up and Swing Doors | Asking Price: $2,400,000

161,570 SF Small Bay Portfolio in Tampa-Sarasota Corridor | Palmetto: 100,020 SF | Bradenton: 61,550 SF | 77 Units Ranging from 400-9,000 SF | Units Have Grade-Level Loading with Overhead Doors, Individually Metered Buildings, and Independent Climate Control

94,638 SF | 5.87 AC | 4 Buildings | 23 Units Ranging from 2,450-4,900 SF with Ability to Combine up to ±8,000 SF | Built in 2009, 2013, 2015, and 2019 | Diverse Tenant Base with 100% Occupancy | 7.32% in-Place Cap Rate | Below-Market Rents | Located in Deer Creek/Edmond Growth Corridor | Asking Price: $11,500,000

SMALL BAY PROPERTIES FOR LEASE

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1,811 SF Available | Clear-Span Layouts with Functional Ceiling Heights | Grade-Level Loading | Excellent Access to Major Highways and Miami Intl. Airport

7,000-14,000 SF Available | Gravel Yard | 19’ Max Clear Height | 6” Slab | (9)12’x14’ Overhead Doors | Minutes to I-5 and Highway 62

1,034 SF Available | Up to 14’ Clear Height | Drive-in Loading Door | Small Front Office Area | Centrally Located

ONE MORE THING

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