Small Bay Daily - February 3 - Cushman & Wakefield sells small bay portfolio in Greensboro, NC

Good morning. Welcome to Small Bay List! In each issue, we cover the top stories in the small bay, shallow bay, and mid bay industrial space.

Today’s issue is sponsored by Sapphire — supporting industrial real estate operators with tailored financing solutions.

Now, let’s get to it!

NEWS ROUNDUP

DISPOSITION: Cushman & Wakefield sells small bay portfolio in Greensboro, NC. Cushman & Wakefield’s Industrial Advisory Group Southeast Capital Markets Team has facilitated the sale of South Elm Industrial Center, located at 101-211 Creek Ridge Road and 3012 South Elm Eugene Street in Greensboro, North Carolina. The property features 13 buildings serving 43 tenants. A CushWake deal team led by Casey Masters represented the seller, Blue Ridge Industrial, in the sale. The Blue Ridge deal team included Nate Leifeld and Michael Trapani. The buyer was Somerset Properties.

ACQUISITION: Redfearn buys shallow bay facility in Melbourne, FL, for $7M. Redfearn Capital has acquired 560 Distribution Drive in Melbourne, Florida, in a sale-leaseback deal with CNC Cabinetry. The property features a 53,000 SF single-tenant industrial building. Alex Redfearn led the Redfearn Capital deal team. Michael Moss II with Lightle Beckner Robison Inc. facilitated the transaction.

ACQUISITION: Geneva Group buys small bay park in Asheville metro for $6.7M. The Geneva Group, through its affiliate Gen Arden LLC, has acquired 3865 Sweeten Creek Road in Arden, North Carolina. The property features 8 industrial buildings totaling 75,497 SF. Jarad Scher led the Geneva Group deal team in the transaction.

ACQUISITION: Corepoint sells flex-industrial facility in Jacksonville, FL. Corepoint Real Estate has facilitated the sale of 9093 Philips Highway in Jacksonville, Florida. The property features 3 flex-industrial buildings totaling 48,875 SF. Marc Smouha with Corepoint represented the buyer, Shlosha Management, in the transaction.

ACQUISITION: Circle Industrial buys small bay park in Los Angeles area. Circle Industrial has acquired Bugatti Business Park, located at 1705-1715 West 130th Street in Gardena, California. The property features 2 multi-tenant industrial buildings totaling 31,408 SF. Patrick Maloney led the Circle Industrial deal team. Steve Bohannon and James Latimer with Cushman & Wakefield represented the seller in the transaction.

LEASE SIGNED: Legacy leases out small bay space in St. Petersburg, FL. Legacy Capital Partners has leased out 25,000 SF of industrial space in the Petersburg Commerce Center at 4001 35th Street in St. Petersburg, Florida. There are still suites ranging from 7,000-17,000 SF available at the center. Kyle Kidd and Dominic Hewitt with Colliers represented Legacy in the transactions, while David Kramer with Pridgen Realty Inc. represented the tenant, Kahwa Coffee Roasters.

FROM OUR PARTNERS

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SMALL BAY PROPERTIES FOR SALE

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83,607 SF | 5 AC | 48 Divisible Suites | 18’ Clear Height | 61 Total Drive-in Doors | LED Lighting | 3-Phase Power | 130 Auto Parking Spaces | Functional Drive-Through Site Circulation | Located Just Minutes from Naples Airport and I-75 | Closest Industrial Node to 5th Avenue South and More Than 20 Minutes from Nearest Competitor

15,144 SF | 0.61 AC | 8 Units | Well Located on High-Identity Corner of West Evans Avenue & South Platte River Drive | Every Unit Has at Least (1) 10’x12’ Drive-in Loading Door | New Owner Can Occupy up to 4,590 SF Immediately | Free-Span Units | Radiant Heating in Each Warehouse Unit

11,500 SF | 1.3 AC | 10 Users Currently Occupy ±85% of Building | Below-Market Month-to-Month Rents | Close Proximity to Airport and Easy Access to Highway 52 | 12 Drive-in Doors

SMALL BAY PROPERTIES FOR LEASE

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For Sublease | 6,000 SF Available | Full HVAC | Dock-High and Grade-Level Delivery | 2 Offices | 2 Restrooms | 30 Months Left on Term (Landlord Will Work with New Tenant on Extension)

500-1,000 SF Available | 2 Units Available | Each Unit Has Overhead Door | Immediate Access to US-41 Bypass

2,800 SF Available | (2) 12’x10’ Grade-Level Doors | 14’ Ceiling Height | Close to Route 400 | Upgraded Heating | Mezzanine for Additional Storage | 2 Restrooms | 480/3-Phase Power

ONE MORE THING

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