Small Bay Daily - January 28 - Faropoint receives $273M refi loan for shallow bay portfolio

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NEWS ROUNDUP

FINANCING: Faropoint receives $273M refi loan for shallow bay portfolio. Faropoint has received a 2-year non-recourse loan from Capital One and J.P. Morgan for a portfolio of 61 properties. The portfolio, dubbed Project Walk-Off, totals nearly 3.5M SF and includes assets in 8 metros in the Midwest, Southwest, and Northeast. Idan Tzur led the Faropoint deal team. Tom Traynor, Tom Rugg, Mark Finan, and Henry Fenmore with CBRE arranged the loan, which includes (3) 12-month extensions.

ACQUISITION: CapRidge buys shallow bay asset in Austin area for $6.75M. CapRidge Partners has acquired 1615 Scottsdale Crossing in Cedar Park, Texas. The property features a 30,000 multi-tenant building that is currently fully leased. Witt Westbrook and Patrick Mccord with JLL represented the sellers, BCA Industrial Partners and Growth Capital Partners, in the transaction. Dan Terpening led the CapRidge Partners deal team.

DISPOSITION: MDL Group sells flex industrial asset in Las Vegas for $3.79M. The Katz Kimerling Team at MDL Group has facilitated the sale of 3975 South Durango Drive in Las Vegas, Nevada. The property features a 12,558 SF multi-tenant building. Jarrad Katz and Galit Kimerling with MDL Group represented the seller in the transaction.

ACQUISITION: Freehill buys light industrial asset in North Houston, TX. Freehill Capital Partners, in partnership with Fox Capital Partners, has acquired 3030 Greens Road in Houston, Texas. The property features an 18,700 SF single-tenant light industrial building. Stellar Bank provided financing for the acquisition. Adam Hawkins led the Freehill deal team.

LEASED SIGNED: Warehouse Hotline leases small bay space in Denver metro. Warehouse Hotline has facilitated the leasing of 3596 Moline Street, Unit 118, in Aurora, Colorado. The unit features 1,600 SF of industrial space. Aviva Sonenreich with Warehouse Hotline represented the tenant, Timberlux Studio LLC, in the transaction.

READ: AI and e-commerce trends send investors seeking small bay industrial assets.

SMALL BAY PROPERTIES FOR SALE

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83,607 SF | 5 AC | 48 Divisible Suites | 18’ Clear Height | 61 Total Drive-in Doors | LED Lighting | 3-Phase Power | 130 Auto Parking Spaces | Functional Drive-Through Site Circulation | Located Just Minutes from Naples Airport and I-75 | Closest Industrial Node to 5th Avenue South and More Than 20 Minutes from Nearest Competitor

26,877 SF | 1.37 AC | 100% Occupied Value-Add Opportunity | Brand-New Roof | Zoning Allows Auto Repair | Large Monument Sign | Close to I-75 and I-285

7,000 SF | 10 Units | 14’ Clear Height | (1) 10’x10’ Drive-in Door per Unit | Fully Fenced and Secured Yard | Less Than 2 Minutes from I-25/Fillmore Interchange

SMALL BAY PROPERTIES FOR LEASE

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2,330 SF Available | Located in Well-Maintained, Professionally Managed Property | Private Office and Restroom | 1 Roll-up Door | 100 amps/3-Phase 110V/208V | Fire Sprinklers | Close to Highways 52,125, and 67

1,500-4,900 SF Available | 12’ Clear Height | At-Grade Drive-ins | Direct Access to US-1 and Close Proximity to I-95 and MD-100 | Automotive Allowed

10,463 SF Available | A/C Offices | Evap Cooled Warehouse | Power: 100-800 Amps | 14’ Clear Height | 10’x10’ Overhead Doors | Grade-Level Loading | Insulated Roof | Great Truck Access | Close to Airport and Freeways

ONE MORE THING

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