Small Bay Daily - February 10 - CenterSquare launches $50M co-investment vehicle with ESAS

Good morning. Welcome to Small Bay List! In today’s issue, we feature CenterSquare’s new small bay co-investment vehicle and BKM’s first foray into the Atlanta market.

Now, let’s get to it!

NEWS ROUNDUP

FUNDING: CenterSquare launches $50M co-investment vehicle with ESAS. CenterSquare Investment Management has announced the close of a $50M co-investment vehicle with ESAS Real Estate focused on its Essential Service Industrial multi-tenant small-bay strategy. The vehicle will invest 50/50 alongside CenterSquare’s latest value-add fund. Jeff Reder led the CenterSquare deal team, while the ESAS deal team was led by James Bury.

ACQUISITION: BKM Capital Partners buys 6-property small bay portfolio in Atlanta metro area. BKM Capital Partners has entered the Atlanta market with the acquisition of 6 small bay properties located in the ATL metro area. The properties total ±400,000 SF. The BKM deal team was led by Charlie Farmer and included Brett Turner, Kristina Caruso, Adam Candler, Patrick Zepeda, Grant Korn, and Vy Pham. Jim Freeman, Dennis Mitchell, Britton Burdette, and Maggie Dominguez with JLL facilitated the transaction. The properties in the portfolio are:

• Cobb Landing, 1610 & 1620 Cobb International Drive in Kennesaw — 52,280 SF

• Corporate Way Center, 3400 Corporate Way in Duluth — 59,959 SF

• Peachtree Industrial Center, 6000 Peachtree Industrial Road in Norcross — 58,139 SF

• Rubicon Business Center, 1600 & 1800 Wilson Way in Smyrna — 116,572 SF

• South Atlanta Industrial Center, 4938 South Atlanta Road in Atlanta — 58,174 SF

• Young Court Business Center, 1750 Young Court in Norcross — 59,000 SF

ACQUISITION: Foundry Commercial buys small bay development in Orlando area. Foundry Commercial has acquired Edgewood Park of Commerce, located at 4857 South Orange Blossom Trail in Edgewood, Florida. The development, which is slated for delivery in the 2nd half of 2027, will feature 6 multi-tenant small bay industrial buildings totaling 565,600 SF. The Foundry deal team included Moses Salcido, Lawson Dann, Justin Ruby, Joey Woodman, and Travis Hammond.

DISPOSITION: Legacy Capital Partners sells small bay portfolio in Orlando area. Legacy Capital Partners has sold 310-470 Lemon Lane and 315-395 Commercial Street in Casselberry, Florida. The buyer was Denholtz. The property includes 5 buildings totaling 117,635 SF. Tyler Hall and Scott Brucker led the Legacy Capital Partners deal team. Ryan Griffith and CJ Griffith with Lee & Associates Central Florida facilitated the transaction and are currently marketing the property for lease.

LEASE SIGNED: NAI Mertz fully leases small bay project in Philadelpha metro area. NAI Mertz has completed 6 new leases totaling 55,780 SF at the Monroe Business Center at 1041 Glassboro Road in Williamstown, New Jersey. The new leases bring the project to 100% occupancy. The NAI Mertz deal team was led by Sandro Randazzo and Scott Mertz.

READ: The risks and rewards of small bay industrial. An interview with Gary Kobus and Tom Kuhlmann of Lincoln Property Co.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

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 BKM Capital Partners | Convenient Freeway Access and Excellent Accessibility via Interstate 17

For Sale and Lease | 10.4 AC | Fully Approved for 6 Buildings Totaling 86,550 SF at $30/SF | Seller Financing Available | Close to I-195, NJ Turnpike, US-9, and Garden State Parkway | Email for Details

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

Click on each photo for more information.

For Sublease | 14,600 SF | (2) 12’x14’ Drive-in Doors and (1) 8’x10’ Dock-High Door | 25’ Clear Height | 2 Restrooms | Lease Term Ends 2028

6,863-23,171 SF | 3 Spaces Available | 24’ Clear Height | Quick Access to I-25, E-470, and Highway 83 | New Construction

200-2,000+ SF Units Available | Loading Docks, Daily Carrier Pickups, Industrial Racking, and Warehouse Equipment Included in Rent | Unique Access Code, On-site Building Manager, and 24/7 Security Cameras | Shared Kitchenette, Lounge, Bathrooms, and Conference Rooms

ONE MORE THING

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