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Small Bay Daily - July 10 - Captiva Partners buys North Hollywood SB for $15.7M

Small Bay Daily - July 10 - Captiva Partners buys North Hollywood SB for $15.7M

Captiva buys North Hollywood. Small bay park planned for Jacksonville. CBRE sells Denver small bay park. BRC leases NJ property. JLL secures $24M for small bay park.

Katherine Peach
July 10, 2024

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NEWS ROUNDUP

Captiva Partners buys North Hollywood SB for $15.7M

ACQUISITION: Captiva buys small bay in North Hollywood for $15.7M. Captiva Partners has purchased 8210-8222 Lankershim Boulevard in North Hollywood, California. The 3.3 acre property is comprised of 3 buildings with 41 suites totaling 66,400 SF. Suites range from 1,200 to 2,400 SF. Captiva is led by Brian Abers.

ACQUISITION: NorthPoint to sell Jacksonville site to small bay developer. NorthPoint Development is selling a 7.5 acre site at 2895 Ignition Drive in Jacksonville, Florida. The undisclosed buyer intends to develop the site into a 99,840 SF 5-bay multi-tenant warehouse. The site is part of NorthPoint’s Park 295 project. Rich Antczak of Newmark is representing NorthPoint in the sale.

DISPOSITION: CBRE sells small bay park in Denver, CO. CBRE has sold Valley Business Center, a 5 building small bay industrial park located at 700 West Mississippi Avenue in Denver, Colorado. The site is fully leased to 19 tenants and comprises 204,574 SF. The CBRE deal team included Tyler Carner, Morgan Dunn, Mike Machado, Alexei Andrea, and Jeremy Ballenger. BKM Capital Partners purchased the property in February 2019 for $24.3 million.

LEASE SIGNED: BRC leases 53,550 SF in Keasbey, NJ. Bussel Realty Corp. (BRC) has leased the entirety of 300 Smith Street in Keasbey, New Jersey. The BRC team of Dave Blitt, Eli Harari, and David Paster represented the landlord, 300 Smith Street Associates. Jordan Metz, Ben Abbate, and James Friel of BRC’s Metz Industrial Group represented the tenant, Major Tempered Glass LLC.

FINANCING: JLL secures $24M for small bay park in Orlando, FL. JLL Capital Markets has arranged $24 million in financing for Silver Star Commerce Center. The project is an 8 building small bay industrial park comprised of 254,915 SF. The park is located at 3600-3802 Silver Star Road and 3717-3763 Mercy Star Court in Orlando, Florida. JLL represented the borrower, a joint venture between Denholtz Properties and Long Wharf Capital. The loan was secured from Webster Bank. The JLL team included Jon Mikula, Michael Klein, Melissa Rose, Salvatore Buzzerio, and Jovi Rodriguez.