Small Bay Daily - December 11 - Stos/Long Wharf/Cardinal JV sells 1.3M SF small bay portfolio in Indianapolis

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DISPOSITION: Stos/Long Wharf/Cardinal JV sells 1.3M SF small bay portfolio in Indianapolis metro area. A joint venture between Stos Partners, Long Wharf Capital, and Cardinal Industrial has sold its Hoosier Infill Industrial Portfolio. The portfolio totals 1.3M SF stretched across 38 buildings in 13 industrial parks in the Indianapolis metro area. The buyer was Berkeley Partners. Alex Cantu and Alex Davenport with Colliers represented the sellers in the transaction.

ACQUISITION: Speed Bay buys small bay portfolio in Phoenix for $43.7M. Speed Bay, an affiliate of Academy Partners Group, has acquired a portfolio of 3 small bay industrial parks from Top Ten Properties. The portfolio totals 228,733 SF located in Phoenix, Arizona. David Bean and Cory Sposi with The Leroy Breinholt Team of Commercial Properties Inc. represented Top Ten Properties in the off-market transaction. The properties in the portfolio are:

• Carleton Square, 1711-1741 West Rose Garden Lane — 86,046 SF

• Top Ten Business Center, 4845-4855 West McDowell Road — 79,744 SF

• Valley Commerce Center, 4810-4828 South 40th Street — 62,725 SF

ACQUISITION: Berger brokers sale of small bay portfolio in Miami metro area for $19.25M. Berger Commercial Realty has facilitated the sale of 1703-1745, 1774-1812, and 1823-1853 Northwest 38th Avenue in Lauderhill, Florida. The portfolio features 3 buildings totaling 104,000 SF. Jordan Beck with Berger represented a private buyer group in the transaction.

ACQUISITION: TWR buys small bay facility in Greater Phoenix metro for $6.2M. TWR Real Estate Partners has facilitated the sale of 1107-1121 West Ranch Road in Tempe, Arizona. The property features a 16,900 SF small bay industrial building plus a 2 AC storage yard. Landon Mckernan, Mark Cassell, and Cameron Miller with LevRose Commercial Real Estate represented the seller, Valley Wide Plastering Inc., in the transaction. R. Shane E. Doherty with Commonwealth Land Title Insurance Co. also assisted in the transaction.

LEASE SIGNED: Florida ROI leases small bay space in Tampa. Florida ROI has facilitated the leasing of 1,920 SF of industrial space at 4808 North Hubert Avenue in Tampa, Florida. Sebastian Sprenger with Florida ROI represented the new tenant, Tampa Patio LLC, in the transaction.

READ: CRE lenders gravitate toward small bay industrial as sector hedge.

SMALL BAY PROPERTIES FOR SALE

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24,570 SF | 1.99 AC | 4 Buildings | 14’ Clear Height | 26 Grade-Level Doors | 4.68% Cap Rate | Value-Add Components | Easy Access to I-95 | Light Industrial Zoning

11,426 SF | 1.02 AC | 2 Buildings | 11 Units | 10 Roll-up Doors | 2,726 SF Office Building (Can Be Subdivided) | Close to US-130, I-295, US-13, US-1, i-95, and the City of Philadelphia

9,600 SF | 4,58 AC | 6 Units | Each Unit Includes Private Office, Bathroom, Separately Metered Utilities, and Office HVAC | All Tenants on Short-Term, 100% NNN Leases | 36 Parking Spaces

SMALL BAY PROPERTIES FOR LEASE

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23,360 SF Total Building (8,360 SF and 15,000 SF Divisible Options) | 12’-15’ Clear Heights | Dock and Drive-in Loading | Heavy Power | 22 Parking Spaces

1,000-10,400 SF Available | 12’x14’ Grade-Level Doors | 18’ Ceiling Height | On-site Property Management and a Park-Like Feel | Conveniently Located

2,096-2,480 SF | 3 Spaces Available | Showroom and Warehouse Space | Roll-up Doors | 100% HVAC | Ingress/Egress on University Drive | Monument/Building Signage Available

ONE MORE THING

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