Small Bay Daily - January 29 - SKB and RGA buy shallow bay portfolio in Portland, OR

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

ACQUISITION: SKB and RGA buy shallow bay portfolio in Portland, OR. ScanlanKemperBard (SKB), in a joint venture with an affiliate of Reinsurance Group of America (RGA), has acquired the Columbia River Collection, a portfolio of 8 industrial buildings in Portland, Oregon. The portfolio, which includes 158th Commerce Park (6 buildings at Northeast Marine Drive and Northeast 158th Avenue) and Northgate (2 buildings on North Marine Drive), totals 513,275 SF. The SKB deal team included Todd Gooding and Dixon Hinderaker.

ACQUISITION: Axiom sells small bay industrial asset in South Florida for $7M. Axiom Capital Advisors has facilitated the sale of 1600 Northwest 34th Terrace in Lauderhill, Florida. The property features a 35,535 SF multi-tenant industrial building. The buyer was EAST Capital Partners, led by Drew DeWitt and David Archibald. The Axiom deal team included Jose Sasson, Eli Sasson Bril, and Roberto Susi. Stuart Kapp and Jake Seiler with Kapp Morrison LLP also assisted in the transaction.

DISPOSITION: LevRose sells small bay facility in Phoenix, AZ, for $3.91M. LevRose Commercial Real Estate has facilitated the sale of 2853-2855 South 44th Street in Phoenix, Arizona. The property features 2 multi-tenant industrial buildings totaling 20,000 SF. Landon McKernan, Mark Cassell, and Cameron Miller represented the seller in the transaction and are currently marketing the property for lease.

ACQUISITION: Lee & Associates brokers sale of multi-tenant park in Fullerton, CA. Team Bethel at Lee & Associates has facilitated the sale of 1849-1871 Commonwealth Avenue in Fullerton, California. The property features a 38,646 SF multi-tenant industrial park. Jeff Bethel, Bob Drown, and Caroline Rooney with Lee & Associates represented the buyer in the transaction.

ACQUISITION: L&O Acquisitions buys small bay with IOS in Boston metro area. L&O Acquisitions LLC has acquired 23 Middlesex Turnpike in Tyngsboro, Massachusetts. The property features a 12,396 SF building and ±2.3 acres of industrial outdoor storage (IOS). David Coffman with JLL facilitated the sale-leaseback deal with Motorcycles of Manchester Inc. Christel Conlin with DCU assisted with the financing. Jeffrey Levine led the L&O deal team.

LEASE SIGNED: PRG leases small bay warehouse in Louisville, KY. PRG Commercial Property Advisors has facilitated the leasing of 533 North 17th Street in Louisville, Kentucky. The property features a 3,200 SF industrial building and was leased within only 3 days of being on the market. Desmond Martin led the PRG deal team.

SMALL BAY PROPERTIES FOR SALE

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48,000 SF | 7.52 AC | 3-Building Asset: 2 Existing 18,000 SF Structures Developed in 2024 and a 12,000 SF Facility Expected to Be Completed in 2026 | Existing Properties Feature 14 Units | 20’-24’ Clear Heights | 27 Grade-Level Doors

24,426 SF | 0.9 AC | 15 Units | Professionally Managed Industrial Park | 100% Leased | 6.50% Cap Rate | Brand-New Renovations | 20 Ground-Level Doors | Assumable Financing Available

38,000 SF | 2.24 AC | 3 Buildings | 18 Units | 100% Occupancy | Prime Location with Freeway Access

SMALL BAY PROPERTIES FOR LEASE

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5,400-56,700 SF Available | Durable Metal Construction | 22’ Clear Height | Dock-High and Drive-in Access | 30’x 45’ Column Spacing | Wet Sprinkler System Throughout | Energy-Efficient LED Lighting | ± 149 Shared Parking Spaces

(2) 2,446 SF Units Available | 353 SF of Office Space per Unit | 18’ Clear Height | 2 Oversized 12’x14’ Grade-Level Doors per Unit | Located Directly Across from Austin-Bergstrom Intl. Airport

3,500-7,000 SF | 2 Combinable Units Available | (1) 12’x14’ Drive-in Door per Unit | 18’6” Clear Height | 40’x40’ Column Spacing | Each Unit Includes Office Space | Full Wet Sprinklers | 3-Phase Power | Close Proximity to I-55 and I-355

ONE MORE THING

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