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Small Bay Daily - December 5 - Terreno sells midbay industrial in Miami for $20.6M

Small Bay Daily - December 5 - Terreno sells midbay industrial in Miami for $20.6M

Terreno sells Miami midbay. Colliers sells Las Vegas small bay. Cove Capital buys San Antonio small bay. Faropoint buys Miami small bay. Seagis leases New Jersey small bay. Foundry to develop Tampa shallow bay. Six new small bay listings.

Katherine Peach
December 05, 2024

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NEWS ROUNDUP

DISPOSITION: Terreno sells midbay industrial in Miami area for $20.6M. Terreno Realty Corp. has sold 1401 Northwest 78th Avenue in Doral, Florida. The 2.8 acre property features a 75,000 SF industrial distribution building currently 100% leased to Vista Color Corp. The Terreno team is led by Blake Baird, Mike Coke, Jaime Cannon, and John Meyer.

DISPOSITION: Colliers sells small bay in Las Vegas, NV for $1.175M. Colliers has brokered the sale of 5032 Cecile Avenue in Las Vegas, Nevada. The property features a 5,200 SF small bay building. A Colliers deal team led by Chase Pavlov, Ryan Hendershot, Adam Malan, and Deana Marcello represented the seller in the transaction.

ACQUISITION: Cove Capital acquires small bay asset in San Antonio, TX. Cove Capital Investments has acquired 5563 De Zavala Road in San Antonio, Texas. The property features a 68,400 SF industrial building that is currently 100% leased. The purchase will be included in Cove Capital’s Texas Small Bay 85 Flex DST offering. The Cove Capital deal team was led by Dwight Kay and Chay Lapin.

ACQUISITION: Faropoint acquires small bay portfolio in Miami, FL. Faropoint has acquired 12750 and 12770 Southwest 125th Avenue in Miami, Florida. The portfolio includes 2 industrial buildings totaling approximately 32,000 SF. The Faropoint deal team included Yannai Gordon, James Mendel, Gabriel Kisber, Josh Tipton, and David Romero.

LEASE SIGNED: Seagis leases small bay facility in Carlstadt, NJ. Seagis Property Group has leased 333 Veterans Boulevard in Carlstadt, New Jersey. Seagis purchased the property, which features a 19,974 SF industrial building, in June 2024. The Seagis Northern New Jersey deal team team includes Omer Ahmed and Tyler Baker.

DEVELOPMENT: Foundry to develop shallow bay facility in Tampa, FL. Foundry Commercial has acquired 20 acres of land in East Tampa, Florida, on which it plans to develop 262,000 SF of shallow bay industrial space. The Two Palms project, which Foundry is undertaking in partnership with Principal Asset Management, will feature 5 buildings with units ranging between 15,000 and 35,000 SF. Foundry expects to complete the project by the first quarter of 2026. The Foundry deal team includes David Kern, Jesse Drake, Justin Ruby, and Caitlin Quinlan. The Principal Asset Management deal team includes Rob Klinkner.