Small Bay Daily - January 27 - Greenstone Partners sells Chicago flex industrial for $16.95M

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.

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NEWS ROUNDUP

DISPOSITION: Greenstone Partners sells Chicago flex industrial for $16.95M. Greenstone Partners has completed the sale of 3800 North Milwaukee Avenue in Chicago, Illinois. The property features a multi-tenant flex industrial building totaling 128,222 SF. Danny Spitz and Brewster Hague with Greenstone Partners represented the seller and procured the buyer, a private equity group based in Illinois.

ACQUISITION: Denholtz buys shallow bay industrial park in Indianapolis. Denholtz has acquired Park Elmwood Industrial Park, located at 5602-5508 Elmwood Avenue in Indianapolis, Indiana. The property is Denholtz’s 1st Indiana acquisition and features 4 buildings totaling 133,200 SF. Paul Paschal led the Denholtz deal team. Alex Davenport and Alex Cantu with Colliers represented the seller in the transaction.

ACQUISITION: Malman brokers $9M sale of shallow bay asset in Denver. Malman Real Estate has facilitated the sale of 4600 Joliet Street in Denver, Colorado. The 58,984 SF property includes cold storage space and is currently leased to Pressery. Shane Robson with Malman represented the buyer in the off-market transaction. The buyer was ACD through its Core Plus Commercial Fund. (Interested in cold storage? Subscribe to our sister publication Cold Storage List.)

DISPOSITION: CBRE sells small bay assets in Inland Empire for $8.1M. CBRE has facilitated the sale of 9851 8th Street in Rancho Cucamonga, California. The property features 2 multi-tenant buildings totaling 30,000 SF. Sammy Cemo, Austin Reuland, and Anthony DeLorenzo with CBRE’s Private Capital Partners team, along with James Toomarian and Wes Jones (also with CBRE) represented the seller, Chase Cactus LP, in the transaction.

DISPOSITION: Midwest CRE Advisors sells flex industrial in Kansas City metro for $1.15M. Midwest CRE Advisors has facilitated the sale of 20560 West 47th Street in Shawnee, Kansas. The property features 8,250 SF of industrial space and is currently leased to Broadmore Pet Retreat. Logan Freeman and Nathan Roberts with Midwest CRE Advisors represented the seller and were the only brokers involved in the transaction.

LEASE SIGNED: Burger & Co. leases small bay space in Detroit metro area. Burger & Co. has facilitated the leasing of a 2,150 SF industrial space at 28710 Wall Street in Wixom, Michigan. John O’Brien with Burger & Co. represented both the landlord and the tenant in the transaction.

SMALL BAY PROPERTIES FOR SALE

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15,876 SF | 0.76 AC | Current Tenants Operating Under Month-to-Month Leases | (12) 10’x10’ and (1) 10’x20’ Roll-up Doors | Easy Access to Siler Road, Cerrillos Road, and St. Michael’s Drive

24,570 SF | 1.99 AC | 4 Buildings | 14’ Clear Height | 26 Grade-Level Doors | 4.68% Cap Rate | Value-Add Components | Easy Access to I-95 | Light Industrial Zoning

18,037 SF | 0.925 AC | Currently 2 Units (Can Be Converted Back to 7) | 10’ and 12’ Overhead Doors | 10’-15’ Ceilings | Close Proximity to Centennial Airport

SMALL BAY PROPERTIES FOR LEASE

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1,831-3,008 SF | 3 Space Available | Each Unit Includes Its Own Loading Door, Warehouse Floor, Office Space, and Private Restroom | Convenient Access to Nearby Commercial Corridors and Major Thoroughfares

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

5,000 SF | New Construction | Versatile Layout | High Ceilings for Added Vertical Storage | Well-Appointed 250 SF Office Area | Excellent Location with Easy Interstate Access | Oversized Drive-in Door

ONE MORE THING

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