Small Bay Daily - January 21 - Colliers sells South Florida shallow bay portfolio for $40M

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NEWS ROUNDUP

DISPOSITION: Colliers brokers $40M sale of Florida shallow bay portfolio. Colliers has brokered the sale of a portfolio of 6 shallow bay properties in Palm Beach County, Florida, totaling 177,499 SF. The Colliers deal team included Ryan Vaught, Jimmy Ullrich, Robyn Hurrell, Michael Macchia, and Riley Vaught. The properties in the portfolio are:

• 1445 and 1449 Jupiter Park Drive in Jupiter, Florida

• 10415 and 10435 Riverside Drive in Palm Beach Gardens, Florida

• 8011, 8049, 8087, and 8125 Monetary Drive in Riviera Beach, Florida

• 3765 Investment Lane in West Palm Beach, Florida

• 6500, 6600, 6612, and 7020 Georgia Avenue in West Palm Beach, Florida

• 4875 Park Ridge Boulevard in Boynton Beach Florida

ACQUISITION: WareSpace buys multi-tenant warehouse in Dallas, TX. WareSpace has acquired 14621 Inwood Road in Dallas, Texas. The property features 270,000 SF of warehouse space that will be leased to small- and medium-sized businesses. The WareSpace deal team included Levi Cohen, Jeff Jenkins, and Joseph Ely. Rich Young with Rich Young Co. and Lee & Associates’ Adam Graham and Stephen Williamson represented the seller, M2G Ventures, in the transaction.

DISPOSITION: Partners sells small bay facility in Houston, TX. Partners has brokered the sale of 5213 Tacoma Drive in Houston, Texas. The property features a 10,020 SF warehouse. The Partners deal team of Wyatt Huff, Hunter Stockard, and Gentry Dikin represented the seller in the transaction. Jason Scholtz with Colliers represented the buyer, while Newmark’s Ryan Cordill handled the title process.

DISPOSITION: CushWake sells shallow bay facility in Denver, CO metro area. Cushman & Wakefield has brokered the sale of 4975 Miller Street in Wheat Ridge, Colorado. The property features a 30,000 SF warehouse. The CushWake deal team included Ryan Searle, Drew McManus, Bryan Fry, and Shannon McBroom. The buyer was ErvoSquare, led by Michael Ervolina.

LEASE SIGNED: KBC leases 23,500 SF flex space in Somerset, NJ. KBC Advisors has facilitated the leasing of 23,500 SF at 100 Randolph Road in Somerset, New Jersey. This brings the building to full occupancy. The KBC team of Joseph Vacca and Andrew Siemsen represented the landlord, Brookfield Properties.

FINANCING: Gantry secures $15M loan for multi-tenant park in San Diego, CA. Gantry has secured a permanent loan to refinance 5 buildings in the Rancho Vista Business Park in Visa, California. The portfolio totals 182,000 SF of rentable space. The Gantry deal team was led by Stephan Coste.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

10,000 SF | Subdivisible to (2) 5,000 SF Units | (2) 12’x14’ Grade Doors | 1,200 SF Office | For Sale and Lease

4,080 SF | Brand-New Construction | 2 Drive-in Doors | For Sale and Lease

9,320 SF | 1.03 AC | 14 Grade-Level Doors | 6 Units | Month-to-Month Leases

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

1,600-16,000 SF | 3 Buildings | New Construction | Industrial/Flex Facility

15,550 SF | 4-5 Offices | 3 Dock Doors | 1 Drive-in Doors | Heated

1,100 SF | Includes 1 Small Office | 12’ Ceiling Height | 1 Ground-Level Bay Door | Excellent Central Broward Location with Easy Access to I-95 and I-595

ONE MORE THING

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