Small Bay Daily - January 13 - Faropoint buys Long Island industrial portfolio for $17.5M

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.

Now, let’s get to it!

NEWS ROUNDUP

ACQUISITION: Faropoint buys Long Island industrial portfolio for $17.5M. Faropoint has acquired 100 and 110 Wilbur Place in Bohemia, New York, in a sale-leaseback deal with New York Tent. The 2-building portfolio totals 73,811 SF on 6 acres. Matthew Bernstein led the Faropoint deal team. Tommy Rosati, Jason Maietta, and Brandon Lichtenstein with Colliers, along with Richie Cohen with Ashlind Properties, represented New York Tent in the transaction.

DISPOSITION: Marcus & Millichap sells flex portfolio in South Bend, IN, for $2.4M. Marcus & Millichap has facilitated the sale of 3371 West Cleveland Road in South Bend, Indiana. The property features 2 flex office/warehouse buildings totaling 44,837 SF across 16 units. Julia Evinger with The Evinger Group at Marcus & Millichap represented the seller and secured the buyer.

ACQUISITION: Palisades Property Trust buys small bay buildings in SoCal. Palisades Property Trust has acquired 26421 Ruether Avenue and 27058 Centre Pointe Parkway in Santa Clarita, California. The 2 properties total approximately 120,000 rentable SF and are currently 100% occupied. The Palisades deal team included Trevor Sterry and Carl Groner.

ACQUISITION: Transtar buys small bay park in Fort Worth, TX. Transtar has acquired M&W Business Park, located at 10349-10379 Alta Vista Road in Fort Worth, Texas. The property features 6 multi-tenant buildings totaling 63,600 SF on 7 acres. Finn Wilson with LanCarte Commercial Real Estate represented Transtar in the transaction. Richard Miller leads the Transtar team.

LEASE SIGNED: Obsidian fully leases small bay facility in Twin Cities area. Obsidian Group has fully leased out 14310 Sunfish Lake Boulevard Northwest in Ramsey, Minnesota. The property features 2 multi-tenant buildings totaling 20,640 SF. Ethan Finger and Sam Carter with Obsidian Group represented the landlord in the lease transactions.

LEASE SIGNED: Lee & Associates & Stream lease small bay in Dallas-Ft. Worth area. Lee & Associates and Stream Realty Partners have facilitated the leasing of 6,774 SF of industrial space at 8300 Esters Boulevard in Irving, Texas. The property is located in Freeport Business Park. Brett Lewis and Taylor Stell with Lee & Associates Dallas-Fort Worth represented the tenant, Frank Dale Construction Ltd. Jeremy Kelly and Mac Hall with Stream Realty Partners represented the landlord, Bleecker Partners.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

102,000 SF | 0.47 AC | Multi-Tenant Industrial Strip Investment | Value-Add Opportunity | 100% Occupancy | Close to I-95, Boca Raton, and Palm Beach | Asking Price: $2,250,000

39,082 SF | 2.24 AC | 3 Buildings | 19 Units | 100% Occupied | 5,300 SF Fenced Yard Space | Prime Location with Freeway Access

21,290 SF | 1.54 AC | 3 Buildings | Suites Ranging From 1,200-1,500 SF | Shorter-Term Leases | Ample Parking | 2 Minutes from North Powers Boulevard

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

24,109 SF Available | 9 Drive-in Doors | 18’ Clear Height | Small Office Space on Site | 1.6 AC of Land | Located 0.7 Miles from Ramp to I-40 and 2.3 Miles from I-55 On-ramp | Rental Rate: $6/SF/YR (NNN)

4,212 SF Available | 22’ Ceilings with 15.5’ Clear Height | (3) 12’×10’ Drive-in Doors | Temperature-Controlled Warehouse | Sprinkler System | Build-to-Suit Mezzanine Office and Conference Room with Long-Term Lease | Delivered Fully Remodeled

2,190 SF Available | Recently Updated with New Office and Restroom | New Roof and New Concrete Parking Lot | 10’x12’ Grade-Level Roll-up Door

ONE MORE THING

Advertise Listings | Share a Closing Announcement | Search Properties | Small Bay News | Comps | Professional Network | Email the Editor