Small Bay Daily - February 4 - Taurus buys 16 property portfolio in Twin Cities area for $75M

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NEWS ROUNDUP

ACQUISITION: Taurus buys 16 property portfolio in Twin Cities area for $75M. Taurus Investment Holdings has entered the Twin Cities, Minnesota, metro industrial market with the purchase of a 16-building portfolio of distribution centers. The portfolio totals 636,051 SF of building space and is currently 96% leased. The average tenant size for the portfolio is 7,000 SF. Bentley Smith and Judd Welliver with CBRE represented the seller in the transaction. The Taurus deal team was led by Peter Merrigan and Lathan Allen. The properties included in the deal are:

• 565 Shoreview Park Road in Shoreview

• 605 West County Road East in Shoreview

• 1160, 1235, and 1253 Red Fox Road in Arden Hills

• 1374 County Road East in Vadnais Heights

• 1700, 1800, 1805, 1825, 1851, and 1871 Buerkle Road in White Bear Lake

• 1928 and 1950 County Road C West in Roseville

• 1965 County Road C2 West in Roseville

• 20998 134th Avenue North in Rogers

ACQUISITION: Midtown Capital Partners buys shallow bay in Miami for $21.5M. Midtown Capital Partners has acquired 5220 Northwest 163rd Street in Miami Gardens, Florida. The property features a multi-tenant industrial facility totaling 82,800 SF. The seller was TA Realty. Zach Levine, Douglas Mandel, and Joshua Gilbert with Marcus & Millichap represented both sides of the transaction.

DISPOSITION: Avison Young sells midbay warehouse in Charlotte metro area. Avison Young has facilitated the sale of 141 Ramdin Court Northwest in Concord, North Carolina. The property features a 40,786 SF industrial facility. The Avison Young deal team included Gray Gaines, Tom Tropeano, and Chris Loyd. Nick Lee with NAI Robert Lynn brought the buyer.

DISPOSITION: Colliers sells industrial centers in Silicon Valley for BKM. Colliers Capital Markets has successfully brokered the sale of 48500-48560 Fremont Boulevard and 48430-48490 Lakeview Boulevard in Fremont, California. The portfolio boasts a total rentable area of 95,126 SF and is currently 100% leased. Andrew Zighelboim, Brad Idleman, Bob Gilley, Bryan Courson, Carrie Evans, Karina Fuentes, and Cole Brosnan with Colliers represented the seller, BKM Capital Partners. The BKM deal team included Brett Turner and Michael Grossner.

LEASE SIGNED: BRC’s MIG leases industrial space in Elizabeth, NJ. The Metz Industrial Group (MIG) of Bussel Realty Corp (BRC) has leased 14,000 SF at 410 Allen Street in Elizabeth, New Jersey, to Castle & Brothers Logistics. Jordan Metz, Benito Abbate, and James Friel with MIG represented the landlord, S&H Development, in the transaction. There are still 24,500 SF available for lease at the property.

READ: BKM weighs in on the rise of small bay industrial.

PORTFOLIO OFFERING

30 Shallow Logistics Assets Totaling 1.8 MSF | 91.5% Leased with 3.3 Years WALT | Near-Term Mark-to-Market Opportunity in High-Growth Markets

SMALL BAY PROPERTIES FOR SALE

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270,335 SF | 9.27 AC | Oversized Grade-Level Doors | 18’-20’ Clear Heights

255,963 SF | 5 Buildings | 100% Leased | 18 Tenants | 2.7 Year WALT | 20% Below Market Rents

16,911 SF | 2 Oversized Grade-Level Doors | Climate-Controlled Warehouse | Fully Sprinklered | Automatic Shutters | Heavy Power (±1,000 Amps) | New Roof (2022) | Repainted/Waterproofed (2024)

SMALL BAY PROPERTIES FOR LEASE

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13,500 SF | 3 Dock-High Doors | 1 Ramp | 24’ Clear Height | Showroom Ready | 3-Phase Power

1,650-24,000 SF | 18’ Clear Height | 1 Drive-in Door per 1,6500 SF Unit | 3-Phase Power | Opportunity for 2.3 AC of Outdoor Storage | Close to I-270, John Glenn Intl. Airport, and Downtown Columbus

1,056 SF | 1 Available Space | 16’ Clear Height | 12’x14’ Roll-up Door | En-suite Restroom | Each Unit Individually Metered

ONE MORE THING

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