Small Bay Daily - July 1 - CushWake sells Ohio light industrial portfolio for $193M

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NEWS ROUNDUP

DISPOSITION: CushWake sells Ohio light industrial portfolio for $193M. Cushman & Wakefield has facilitated the sale of Dalfen’s Ohio light industrial portfolio. The portfolio features 21 assets totaling 1.95M SF in the Columbus, Cincinnati, and Cleveland metro areas. The buyer was Plymouth Industrial REIT. The CushWake deal team included Adam Tyler, Jim Carpenter, Mike Tenteris, Megan Barker, Jeff Bender, Seattle Stein, Elizabeth Given, Dan Cooney, Kristen Allen, and Gaby Chiacchio. Anthony Saladino led the Plymouth deal team.

DISPOSITION: Lucern sells small bay center in Charlotte, NC for $8.5M. Lucern Capital Partners has sold Charlotte Trade Center, located at 6010 McDaniel Lane in Charlotte, North Carolina. The property features 7 multi-tenant industrial buildings totaling 49,625 SF. Lucern acquired the property 2 years ago for $5.6M. The buyer was Revolve Commercial Real Estate, led by Taylor Nuccitelli and Jack Hofstetter. Frank Forte and David Hansel led the Lucern deal team. Jake Viverette, Andrew Roupas, and Will Redding with The Overton Group facilitated the transaction.

ACQUISITION: CRE Capital Management buys Atlanta area small bay for $2.1M. CRE Capital Management has acquired 3750 Industrial Court in Suwanee, Georgia. The property includes a 15,000 SF industrial building that is currently 100% occupied. Abhi Acharya led the CRE Capital Management deal team. Conner Dickinson with Wilson, Hull & Neal facilitated the transaction.

DISPOSITION: Axis Realty sells shallow bay industrial building in DFW area. Axis Realty Group has facilitated the sale of 190 Industrial Boulevard in McKinney, Texas. The property features a 51,710 SF multi-tenant industrial building. The buyer was Harbor Capital, and the seller was Tillar Partners. The Axis Realty deal team included Chase Traughber, Brad Andrus, and Alex Payne.

LEASE SIGNED: Lee & Associates/Stream Realty lease small bay in DFW area. Lee & Associates and Stream Realty Partners have facilitated the leasing of 26,000 SF of industrial space at 1225 Capital Drive in Carrollton, Texas. Corbin Blount with Lee & Associates Dallas-Fort worth represented the tenant, Aarav Corp., in the transaction. Mac Hall and Eric Crutchfield with Stream Realty Partners represented the landlord, G&I IX 1225 Capital LLC.

FUNDRAISING: Faropoint launches Industrial Value Fund IV targeting $1B. Faropoint has launched Industrial Value Fund IV, a flagship fund targeting $1B in capital commitments. The fund has already secured $225M in commitments from the Teacher Retirement System of Texas. The fund will seek out multi-tenant industrial assets with suite sizes between 20,000 and 40,000 SF. Adir Levitas and Raz Rahamim lead the Faropoint deal team.

SMALL BAY PROPERTIES FOR SALE

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85,225 SF Small Bay Industrial Portfolio in Affluent DC Suburb | 4.68 AC of Mixed-Use Zoned Land Adjacent to Future Residential Development | 98% Leased with 2.25 Years WALT | Strong Rent Growth | Close to I-270, I-495, and Washington, DC

11,000 SF | 0.57 AC | 9 Units | 2 Existing Tenants on Month-to-Month Leases | 16’ Clear Height | Oversized Drive-in Loading | Close to US-1

38,152 SF | 1.88 AC | 5 Buildings | 70% Leased | Existing Rents 15% Below Market | 16’ Ceiling Height | 25 Loading Docks | Direct Access to I-110, I-105, and I-405

SMALL BAY PROPERTIES FOR LEASE

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24,664 SF | Private Offices, 3 Restrooms, and Break Room | 5 Dock-High Doors | 3 Grade-Level Doors | 3-Phase Power: 240V 400 Amps | 16’-19’ Clear Heights | Close to I-35W, I-20, and I-30

3,440 SF | Over 5,000 SF of Paved and Gravel Parking Area | (4) 14’ Electric-Operated Roll-up Doors with Glass Panels | Newly Installed LED Lighting Throughout | 400 Amps of 3-Phase Power

1,250-2,500 SF | 2 Spaces Available | AC, Private Bathroom, and Office Space Included | 18’ Clear Height | Roll-up Garage Doors

ONE MORE THING

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