Small Bay Daily - December 16 - Basis Industrial buys South Florida small bay portfolio for $84.75M

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NEWS ROUNDUP

ACQUISITION: Basis Industrial buys South Florida small bay portfolio for $84.75M. Basis Industrial has acquired a portfolio of 42 small bay multi-tenant buildings in Hialeah, Florida. The portfolio totals 396,135 SF and is currently 85% leased. Anthony Scavo led the Basis Industrial deal team in the transaction. Jose Lobón with CBRE represented the seller, TA Realty.

DISPOSITION: CBRE sells shallow bay portfolio in Houston for $24.9M. CBRE has facilitated the sale of 2 shallow bay industrial parks in Houston, Texas, to BKM Capital Partners. The portfolio totals 193,819 SF and is 89% leased to 35 tenants. Nathan Wynne, Elliott Dow, Eliza Bachhuber, Ryan Thornton, and Jonathan Bryan led the CBRE deal team in the transaction. Brett Turner and Brian Malliet led the BKM deal team. The properties in the portfolio are:

• Fairway Park Business Center, 1060 Hempstead Road and 200-520 Fairway Park Drive — 5 buildings, 135,517 SF

• Rockley Road Business Center, 10610-10630 Rockley Road — 2 buildings, 58,248 SF

ACQUISITION: WareSpace buys warehouse in Greater Los Angeles area. WareSpace has acquired 2601 South Garnsey Street in Santa Ana, California. The property features a 122,000 SF warehouse that WareSpace plans to convert into 200-2,000 SF units. The WareSpace deal team included Jeff Jenkins, Joseph Ely, Levi Cohen, and Jeffrey Giese. Chip Wright and Ross Fippinger with CBRE facilitated the transaction.

DISPOSITION: Stream sells shallow bay asset in Dallas-Fort Worth metroplex. Stream Realty Partners has facilitated the sale of 8600 North Royal Lane in Irving, Texas. The property features a 106,500 SF fully leased multi-tenant industrial building. The seller was Blue Ridge Industrial, led by Nate Leifeld and Michael Trapani. The buyer was The Meritex Co. The Stream deal team included Seth Koschak, Matteson Hamilton, Lee Belland, Trey Mahla, William Culp, Daniela Martinez, Cary Latham, and Haili Rumsey.

ACQUISITION: BLP buys shallow bay facility in Atlanta metro area. Bridge Logistics Properties (BLP) has acquired 1755 Founders Parkway in Alpharetta, Georgia. The property features a 41,850 SF industrial facility that is currently fully leased. Roy Harel and John Lupfer with Nublock Partners facilitated the transaction.

LEASE SIGNED: Metz Industrial Group leases industrial space in Kearny, NJ. The Metz Industrial Group (MIG) of Bussel Realty Corp. has facilitated the leasing of Unit B at 104 Third Avenue in Kearny, New Jersey. The unit totals 19,035 SF, while the whole building totals 100,030 SF. Jordan Metz, Benito Abbate, and James Friel with MIG represented the landlord, RHS Hope LLC, in the transaction.

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 Building Multi-Tenant Industrial Park Totaling 232,182 SF | Small-Bay, Multi-Tenant Industrial Design | Infill Location with Strong Labor Access | Strong In-Place Cash Flow with Diversified Tenancy | Significant Recent Capital Investment to Upgrade Project | Immediate Upside with Short-Term Leases | Institutionally Owned and Managed by BM Capital Partners | Convenient Freeway Access and Excellent Accessibility via Interstate 17

Plans in Place for 48,000 SF Facility with 48 Units Across 4 Buildings | 6.03 AC | Shovel-Ready Project Includes All Entitlements, Completed Engineering, and Architectural Plans for Immediate Construction Start | Each Building Will Feature Secure Access, Insulated Construction, and Flexible Unit Configurations | Direct Access to KS-7 and Minutes to I-435/I-35 Interchange | Easy Connection to Kansas City Intl. Airport

SMALL BAY PROPERTIES FOR LEASE

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3,500 SF of Rentable Space | Total of 4,370 SF Including Mezzanine Office | 16’-18’ Clear Heights | 12’x12’ Roll-up Door | 3-Phase Power

3,300 SF Available | 17’-19’ Clear Heights | 13’x14’ Grade-Level Overhead Door | 10% Office and 90% Warehouse | Central Location Just off Overland Road | 1.2 Miles to US-441 and Maitland Boulevard Interchange

5,000 SF | 7 AC | (1) 14’ Grade-Level Door, (1) 12’ Grade-Level Door, and (3) 14’x12’ Grade-Level Insulted Overhead Doors | Fenced 2 AC Stack Yard (Expandable up to 7 AC)

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