Small Bay List
Posts
Small Bay Daily - December 3 - K2 RE Capital acquires midbay warehouse in Laredo, Texas

Small Bay Daily - December 3 - K2 RE Capital acquires midbay warehouse in Laredo, Texas

K2 RE Capital acquires Laredo, Texas warehouse. Legacy Capital buys St. Petersburg small bay. Alere buys Los Angeles small bay. Southpaw buys Fort Myers small bay. BRC leases New Jersey small bay. Six new small bay listings.

Katherine Peach
December 03, 2024

Good morning. This is Small Bay List, and we know the secrets of small bay.

→ We are here to serve the owners, brokers, and tenants who are interested in small bay, shallow bay, and mid bay industrial. Do us a favor and forward this email to your favorite industrial pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

K2/Bear acquireK2/Bear acquire Laredo, Texas, midbay Laredo, Texas, small bay

ACQUISITION: K2 RE Capital buys midbay warehouse in Laredo, TX. K2 Real Estate Capital, in partnership with Bear Development Holdings, has acquired 8514 El Gato Road in Laredo, Texas. The 5.73 acre property features a 92,254 SF distribution facility. The K2 deal team was led by Mitchell and Robert Kaplain. Joseph Ash, Steven Pollan, Joseph Kassin, and Morris Sutton with Kassin Sabbagh Realty facilitated the sale, while David Harris and Lee Sager with Camps Bay Capital Advisors helped secure capital.

ACQUISITION: Legacy buys small bay facility in St. Petersburg, FL for $4.975M. Legacy Capital Partners has acquired 4001-4055 35th Street in St. Petersburg, Florida. The property features 3 warehouse buildings totaling 62,335 SF, along with 0.5 acres of industrial outdoor storage space. The Legacy deal team was led by Jack Slater and Jack McCunn. (If you’re interested in industrial yards, check out our sister publication IOSList.)

ACQUISITION: Alere buys small bay warehouse in Los Angeles, CA area. Alere Property Group has acquired 4895 West 147th Street in Hawthorne, California. The property features a 37,222 SF warehouse on 1.6 acres. The Alere deal team included CoeSen NgWun, Gregory Spencer, Justin Sciarra, Jolie Zaki, Colin Skaggs, and Andy Zhao. Tom Condon with Colliers, Paul Sablock with JLL, Luke Staubitz and Andrew Dilfer with Kidder Matthews, and Leslie Mayer with Cushman & Wakefield also assisted in the deal.

UPDATE: In our November 26 edition, we mentioned that Matthews had brokered the sale of 8910-8918 North Fork Drive in North Fort Myers, Florida. We now know that the sale price for the property, which featured 2 buildings for a total of 30,000 SF, was $3 million. The buyer was Southpaw Capital, led by Joe Pasquale and Kevin Buxton. The seller was Moonstone Holdings. Hayden Bruno and Nick Watson with Matthews represented both the buyer and the seller.

LEASE SIGNED: BRC leases small bay warehouse in Somerset, NJ. The Metz Industrial Group of Bussel Realty Corp. (BRC) has facilitated the leasing of 16 Heller Park Lane in Somerset, New Jersey. The property features a newly constructed 10,000 SF warehouse. The tenant is Triumvirate Environmental. The BRC deal team of Jordan Metz, Benito Abbate, and James Friel represented the landlord, Catalyst Investment Partners.

READ: Commercial real estate forecasts for 2025. (Hint: Warehouse demand is expected to rise.)