Small Bay Daily - January 23 - L&A and LBR sell Florida small bay park for $10.4M

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NEWS ROUNDUP

ACQUISITION: L&A & LBR broker $10.4M sale of small bay in Cocoa, FL. Lee & Associates and Lightle Beckner Robison (LBR) have successfully closed the sale of 815-849 North Cocoa Boulevard in Cocoa, Florida. The property features 9 industrial buildings totaling 76,557 SF. Ryan Griffith and CJ Griffith with L&A represented the buyer in the transaction. Michael Moss with LBR represented the seller.

DISPOSITION: Matthews sells small bay facility in Atlanta area for $2.625M. Matthews has brokered the sale of 1120 Culpepper Drive Southwest in Conyers, Georgia. The property features a 24,192 SF multi-tenant warehouse on 2.21 acres. Harrison Auerbach with Matthews represented the seller and was the only broker involved in the transaction.

ACQUISITION: Bento facilitates $4M sale of Orlando area midbay. Bento Property Group has brokered the sale of 5115 Frontage Road North in Lakeland, Florida. The property features a 55,000 SF distribution warehouse plus 1.2 acres of industrial outdoor storage (IOS). Bento’s Steven Bentolila represented the buyer in the transaction and was the only broker involved. Robbie Lober, Devin Beeler, and Alex Seow with Lober Real Estate are currently marketing the property for lease. (For more IOS deals, sign up for our sister publication IOS List.)

ACQUISITION: Captiva Partners buys small bay property in Phoenix market. Captiva Partners has acquired 2209-2211 West 1st Street in Tempe, Arizona. The sale marks the firm’s entry into the Phoenix market. Captiva plans to upgrade the 40,075 SF multi-tenant property and rebrand it as First Street Commerce Center. The Captiva deal team was led by Brian Abers. Cory Breinholt with Commercial Properties represented both Captiva and the seller in the transaction.

LEASE SIGNED: BRC leases warehouse space in Piscataway, NJ. Bussel Realty Corp (BRC) has leased 27,356 SF at 262 Old New Brunswick Road in Piscataway, New Jersey, to Appco Pharma. The multi-tenant facility totals 140,000 SF. Steve Bussel with BRC represented the landlord, Richards & Robbins, in the transaction.

READ: Demand for small bay industrial properties continues to grow. “A March 2024 CoStar study found that in the 20 tightest markets nationwide the availability rate of properties of less than 50,000 SF ranged from 5.1% in Las Vegas to as little as 1.6% in Louisville.”

SMALL BAY PROPERTIES FOR SALE

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99,899 Rentable SF | 15.26 AC | 6 Buildings | 97% Occupancy | Located Close to US-321/I-85 Interchange | 2.0 Year WALT | 1.8 AC of Dedicated IOS Under Lease

14,360 SF | Tenants Currently Occupy Property on Short-Term Leases at Below-Market Rents | 16’-18’ Clear Heights | 3 Dock-High Doors | 4 Grade-Level Doors

26,400 SF | 2 Buildings | 9 Units | 100% Occupancy at Below-Market Rents | Convenient Access from I-10 | 10’x12’ Grade-Level Roll-up Doors | 3-Phase Power

SMALL BAY PROPERTIES FOR LEASE

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15,600 SF | 18’ Clear Height | Fully Insulated Warehouse | Fenced and Gated | (6) 12’x14’ Grade-Level Doors | Great Access to Tomball Parkway and Beltway 8

50,000 SF | 2,500 SF Office Area | 2 AC of Fenced and Paved Yard | 32’ Clear Height | 4 Dock Doors | 2 Drive-in Doors

500 SF | 14’ Ceilings | Drive-in Bay | Private Restroom | Liberal Zoning Allows Most Industrial Uses

ONE MORE THING

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