Small Bay Daily - February 24 - APG makes largest commitment to Faropoint’s $1B Industrial Value Fund IV

Good morning. Welcome to Small Bay List! In today’s issue, we feature the largest contributor so far to Faropoint’s $1B industrial fund and JLL’s Phoenix shallow bay sale.

Now, let’s get to it!

NEWS ROUNDUP

FUNDING: APG makes largest commitment to Faropoint’s Industrial Value Fund IV. According to Faropoint, APG Asset Management, on behalf of pension client ABP, has made the largest commitment so far to its $1B Industrial Value Fund IV. Launched in June 2025 with $225M from the Teacher Retirement System of Texas, the fund has already deployed about $284M across 30 properties totaling 1.72M SF. “This investment aligns with our focus on delivering long-term value for our clients through exposure to resilient real assets,” said Managing Director and Head of Americas Real Assets at APG Steven Hason.

DISPOSITION: JLL sells shallow bay facility in Phoenix metro area for $24.5M. JLL has facilitated the sale of Farmer Industrial Center, located at 9185 and 9245 South Farmer Avenue in Tempe, Arizona. The property features a 2-building multi-tenant industrial park totaling 93,903 SF. Benjamin Geelan, Greer Oliver, Bryce Beecher, and Gigi Martin with JLL represented the sellers, ViaWest Group and Walton Street Capital, in the transaction. The buyer was Speed Bay Warehouse Solutions.

ACQUISITION: Noble Family Enterprises buys Atlanta small bay portfolio. Noble Family Enterprises has acquired 3750 Hewatt Court in Snellville, Georgia (12,126 SF) and 4764 Hammermill Road in Tucker, Georgia (15,150 SF). Bradley Noble led the Noble Family Enterprises deal team in the all-cash transaction.

ACQUISITION: Dalfen Industrial buys small bay asset in Chicagoland. Dalfen Industrial has acquired 1341-1371 Howard Street in Elk Grove Village, Illinois. The property features a 37,000 SF multi-tenant industrial building. Mike Cohen, Christine Choi Moore, and AJ Kucinski led the Dalfen Industrial deal team.

ACQUISITION: Eleventh Street buys small bay asset in Chattanooga, TN. Eleventh Street Partners has acquired 6135 Airways Boulevard in Chattanooga, Tennessee. This is the firm’s 2nd acquisition in the Tennessee market. The property features a 9,720 SF multi-tenant industrial building on 1.75 AC. Anand Nair led the Eleventh Street deal team. Lasha Kortava with Sands Investment Group facilitated the transaction.

LEASES SIGNED: Lucern leases out 2 small bay units in Charlotte, NC. Lucern Capital Partners has leased out a 1,288 SF unit at 2700 North Graham Street and a 9,000 SF unit at 2708 North Graham Street in Charlotte, North Carolina. The tenants are Unidos Tire & Automotive and WOTCO Tools, respectively. Frank Forte led the Lucern deal team. Gregory Gosselin with Colliers facilitated the transactions.

SMALL BAY PROPERTIES FOR SALE

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16,000 SF | 1.725 AC | (4) 4,000 SF Freestanding Industrial Buildings | Large Paved and Fenced Yard | Short-Term Leases in Place | 5 Ground-Level Doors | 10’-14’ Clear Heights

27,590 SF | 2.27 AC | 2 Buildings | Building 121 Is Rented; 131 Is Available for Owner-Occupant or Tenant | 18’-22’ Clear Heights | 3 Drive-in Doors and 6 Dock-High Doors | 440, 3-Phase Power

46,015 SF | 3.73 SF | 17,550 SF of Industrial Space | 93% Leased to 9 Tenants | 28,465 SF of Retail Space 90% Leased to 18 Tenants | Significant Value-Add Potential Due to Below-Market Rental Rates | Dual Ingress/Egress Points

SMALL BAY PROPERTIES FOR LEASE

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1,500-2,001 SF | 2 Spaces Available | Spaces Can Be Combined for Total of 3,501 SF | Each Space Includes 1 Drive-in Door | 1 Space Has 50% Office Buildout | Close Proximity to I-77 and I-485

1,888 SF Available | (1) 14’x14’ Overhead Door | 20’ Eave Height | 200 Amp 3-Phase 120/208 Volt Power | Easy Access to I-5

2,750-17,000 SF | 4 Spaces Available | Multiple Buildings with Flexible Configurations for Single or Multi-Tenant Use | Each Space Has 12’x14’ Grade-Level Bay Doors | 16’ Clear Height | Direct Access to Ample Parking and Yard Area | Easy Access to Everman Parkway, I-20, and I-35W

ONE MORE THING

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