Small Bay Daily - February 26 - Marcus & Millichap sells Chicago small bay portfolio for $20.4M

Good morning. Welcome to Small Bay List! In today’s issue, we feature Marcus & Millichap’s Chicago small bay portfolio sale and SBI’s acquisition of a Texas small bay industrial park.

Now, let’s get to it!

NEWS ROUNDUP

DISPOSITION: Marcus & Millichap sells Chicago small bay portfolio for $20.4M. Marcus & Millichap has facilitated the sale of 2416-2420 East Oakton Street in Arlington Heights and 1941-2019 Johns Drive in Glenview, Illinois. Peter Doughty, Alex Gallicho, Brandon Houghtaling, and Perry Mallinas led the Marcus & Millichap deal team in the transaction. Tyler Sharp and Matt Smego (also with Marcus & Millichap) secured the financing for the deal.

ACQUISITION: SBI buys small bay flex-industral park in New Braumfels, TX. Single Bay Industrial (SBI) has acquired Aggie Industrial Park, a fully leased 102,000 SF multi-tenant industrial property located in New Braunfels, Texas. The property features 8 small bay flex-industrial buildings with direct frontage on I-35. This marks SBI’s 4th small bay acquisition in the last 2 years. Colin McLellan with Llano Realty Partners facilitated the transaction.

DISPOSITION: Corepoint sells small bay facility in Atlanta metro area. Corepoint Real Estate has facilitated the off-market sale of 1640 Cobb International Boulevard in Kennesaw, Georgia. The property features a 28,000 SF multi-tenant small bay industrial building. The buyer was Longpoint Realty Partners. Marc Smouha led the Corepoint deal team.

DISPOSITION: Matthews sells shallow bay park in Atlanta metro area. Matthews has facilitated the sale of McDonough Industrial Park, located at 221-373 McDonough Parkway in McDonough, Georgia. The property features 5 shallow bay buildings totaling more than 90,000 SF. Nick Watson, Harrison Auerbach, and Thomas Wilkinson with Matthews represented the seller in the transaction.

LEASES SIGNED: Buligo leases out small bay units in Austin, TX, area. Buligo Capital Partners has leased out ±20,000 SF of small bay industrial space in the Austin, Texas, metro area. The leases include 6 lease renewals totaling 18,000 SF at The Odyssey Business Park, 1955 FM Road 2001 in Buda, Texas, and one new 2,000 SF lease at The Manchac, 10516 Menchaca Road in Austin. Monica DeFruscio, Ran Preis, and Henry Cornell led the Buligo deal team. Darryl Dadon, Olivia Reed, and Jake Frickenschmidt with CBRE represented Buligo in the transaction.

LEASES SIGNED: Metz Industrial Group leases 2 small bay units in Kearny, NJ. Metz Industrial Group (MIG) has facilitated the leasing of 2 small bay industrial units at 76-104 Third Avenue in Kearny, New Jersey. The leases include 20,000 SF to PuroClean of Newark and 7,500 SF to Festive Planet. Jordan Metz, Benito Abbate, and James Friel with MIG represented the landlord in both transactions.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

40,296 SF Total | 30,636 SF of Warehouse Space | 9,660 SF of Office Space | 9 Units Ranging from 3,488-7,280 SF | Close Proximity to I-757, I-75, I-85, and I-20

11,000 SF | 0.76 AC | 2 Buildings | 100% Leased to 3 Tenants | (5) 9’x12’ Roll-up Doors | (2) 16’x11’ Roll-up Doors | (1) 12’x13’ Roll-up Door | 12’ Clear Height

18,120 SF | 1.19 AC | 2 Buildings | 36 Units | Less Than 5 Minutes from Port Canaveral | Below-Market Month-to-Month Leases | 12’-16’ Clear Heights | 27 Warehouse Bays | 10’x10’ and 12’x10’ Roll-up Doors

SMALL BAY PROPERTIES FOR LEASE

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2,402-4,753 SF | 3 Suites Available | Multiple Grade-Level Doors | Office Space | New Cap-ex Upgrades Completed | Excellent Access to I-5 and Port of Tacoma

13,568 SF | Great Small Dock-High Unit | 22’ Clear Height | Fenced Yard | Close to Citadel | Excellent Freeway Access

1,320 SF | End Unit | 13’10”-16’ Clear Heights | (1) 12’x12’ Roll-up Door | Modified Gross Lease + Electric | Easy Access to I-275 and US-92 | 2 Parking Spaces

ONE MORE THING

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