Small Bay Daily - January 22 - Silverman Group buys 1.4M SF industrial portfolio for $203M

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

ACQUISITION: Silverman Group buys 1.4M SF industrial portfolio for $203M. The Silverman Group has acquired a portfolio of 50 small bay industrial properties totaling nearly 1.4M SF. The properties are located in Fairfax, Manassas, and Chantilly, Virginia, as well as in Beltsville, Capitol Heights, Forestville, Frederick, Gaithersburg, Glen Burnie, Greenbelt, Hyattsville, Laurel, Rockville, and Upper Marlboro, Maryland (you can find a full list of addresses here). The Silverman deal team included Blake Silverman and Toby Nelson. Benjamin McCarty, Cris Abramson, and Nick Signor with Newmark represented the seller in the transaction.

ACQUISITION: Link Logistics buys Atlanta MSA midbay portfolio for $54M. Link Logistics has acquired a portfolio of 3 industrial buildings in Kennesaw, Georgia. The seller was Atlanta Property Group. John Gosnell with Strategic Real Estate Partners represented Link Logistics in the off-market transaction. Smith Haverty, Shep Dinos, and Jonathan Slone led the Atlanta Property Group deal team. The Link Logistics team included Nicholas Brady, William Balch, and Jonathan Siegel. The properties in the portfolio are:

• 3330 Town Point Drive — single tenant, 86,600 SF

• 3350 Town Point Drive — multi-tenant, 76,800 SF

• 1065 Big Shanty Road — multi-tenant, 139,985 SF

ACQUISITION: CIP Real Estate buys Jacksonville midbay center for $51.6M. CIP Real Estate has acquired JAX Airport Logistics Center, located at 14825 International Airport Boulevard in Jacksonville, Florida. The property features 2 multi-tenant buildings totaling 425,000 SF, with unit sizes ranging from 25,000 to 225,000 SF. Ankoor Jivan led the CIP deal team. Guy Preston, Seda Preston, and John Cole with Colliers are currently marketing the property for lease.

ACQUISITION: Dornin Investment Group buys SoCal small bay campus for $30M. Dornin Investment Group (DIG) has acquired Grand Commerce Center, located at 600-650 South Grand Avenue in Santa Ana, California. The campus features 6 multi-tenant buildings totaling 68 suites across 101,676 SF. The average suite size is 1,495 SF, and the property was 91.4% occupied at closing. The DIG deal team included Chris Dornin and Philip Smith. Joseph Czech with CBRE represented DIG in the off-market transaction. Michael Walker and Andrew Gross with CBRE arranged for financing through LoanCore.

ACQUISITION: Outrig buys small bay industrial facility in Chicago metro area. Outrig has acquired Lakes Region Business Rentals, located at 27992 IL-120 in Lakemoor, Illinois. The property features 7 buildings totaling 197,851 SF with units ranging from 720 to 4,000 SF. Outrig will rebrand the property as Outrig Commerce Park Lakes Region. Greg Kranias led the Outrig deal team.

LEASE SIGNED: CBRE leases Nashville metro area small bay warehouse. CBRE has facilitated the leasing of 22,513 SF of industrial space at 1028 Louisville Highway in Goodlettsville, Tennessee. The new tenant is Des-Case. Jack Armstrong, Will Goodman, David Goodman, Steve Preston, Harrison Fuller, and John Preston with CBRE represented the owner, Merus. Austin Johnson with Savills North America also assisted in the transaction.

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SMALL BAY PROPERTIES FOR SALE

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14,400 SF | 0.54 AC | Unit Sizes Ranging Between 800-2,400 SF | 100% Leased to 17 Tenants | Concrete Block Construction | Property Manager on Site

73,393 SF | 4.25 AC | Suite Sizes Range from 1,200-6,386 SF | 5 Buildings | 94% Leased to 33 Diverse Tenants with Staggered Rollover and 1.8 Years of WALT | 48 Grade-Level Loading Doors (at Least 1 per Unit) | Immediate Access to I-5

12,500 SF | 1 AC | Fully Occupied | 11 Units | Abundant On-site Parking | Proximity to Highway 7 and Dale Evans Parkway

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

5,400 SF Available | 18’ Clear Height | 1 Dock-High Door and 1 Grade-Level Door | ±1,000 SF Office | Conveniently Located with Access to Shoal Creek Boulevard and US-183

1,785-3,570 SF | 2 Units Available | Unit 3 Has Small Office and 1 Grade-Level Door | Close to I-80, I-5, Golden State Highway, and Sacramento Executive Airport

ONE MORE THING

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