Small Bay Daily - December 12 - Lucern Capital buys DC area small bay portfolio for $9.175M

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NEWS ROUNDUP

ACQUISITION: Lucern Capital buys DC area small bay portfolio for $9.175M. Lucern Capital Partners has acquired 14709-14713 Baltimore Avenue in Laurel, Maryland, a suburb of Washington, DC. The portfolio includes 2 multi-tenant buildings totaling 58,612 SF. Joe Friedman, Chris Kubler, Josh Norwitz, and Don Schline with KLNB procured the buyer and represented the seller, Finmarc Management. The Finmarc deal team was led by David Fink. The Lucern deal team was led by Frank Forte.

DISPOSITION: Pinnacle sells small bay asset in the Denver, CO area for $2.2M. Pinnacle Real Estate Advisors has brokered the sale of 3950-3960 South Mariposa Street in Englewood, Colorado. The property features 8 small bay units totaling 16,000 SF. The transaction was part of a 1031 exchange. Pinnacle’s Peter Sengelmann represented the seller in the deal.

DISPOSITION: Lumicre sells shallow bay facility in Houston, TX. Lumicre has facilitated the sale of 15211 Woodham Drive in Houston, Texas. The property features a 63,000 SF single-tenant industrial building plus outdoor storage. Olesya Korneva with Lumicre represented the seller. Jack Gowan and Peyton Easley with Titan Commercial represented the buyer.

ACQUISITION: East/Tramview/ABR JV acquires small bay facility in South FL. 500 Stadium Property LLC, a joint venture (JV) among East Capital Partners, Tramview Capital Management, and ABR Capital Partners, has acquired 500 Northwest Stadium Drive in Port St. Lucie, Florida. The property features a 35,056 SF multi-tenant industrial facility. Greg Miller, Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, and Mike Ciadella with Cushman & Wakefield represented both the buyer and the seller. Jason Hochman and Ronald Granite, also with Cushman & Wakefield, coordinated the financing for the deal with Mark Milovic of LaSalle Investment Management. East Capital is led by Drew DeWitt and David Archibald. Tramview is led by Robert Davies and Charles Myerson. ABR’s leadership team includes David Wolfe, Daniel Blake, and Dan Reynolds.

LEASE SIGNED: BRC leases small bay industrial in New Brunswick, NJ. The Metz Industrial Group (MIG) of Bussel Realty Corp. (BRC) has facilitated the leasing of 2 Home News Row in New Brunswick, New Jersey. The property features a 31,844 SF industrial building. The MIG deal team of Jordan Metz, Ben Abbate, and James Friel represented both the landlord, B&D Holdings, and the tenant, McNichols Co., in the transaction.

READ: Small bay facilties outperform in the Phoenix, AZ leasing market.

SMALL BAY PROPERTIES FOR SALE

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For Sale and Lease | 30,175 SF | 1.75 AC | 24 Units | 16’-20’ Clear Heights | (24) 12’x14’ Drive-in Doors

11,381 SF | 0.43 AC | 5 Units | 14’ Clear Height | 10 Overhead Doors | Outdoor Storage Area | Current Tenants Are Month-to-Month

20,800 SF | 1.6 AC | 21 Units | 100% Leased | Overhead Bay Doors

SMALL BAY PROPERTIES FOR LEASE

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33,407 SF | 2 Bay Doors | (2) 5-Ton Cranes | Fenced Outdoor Storage | 25’ Clear Height | Great Access to Hardy Toll Road, I-45, I-69, and Beltway 8

50,000 SF | 2,500 SF Office Area | 2 AC of Fenced and Paved Yard | 32’ Clear Height | 4 Dock Doors | 2 Drive-in Doors

7,000 SF | 20’ Ceiling Height | 7 Roll-up Doors | Convenient Access to US-41

ONE MORE THING

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