Small Bay Daily - July 15 - Stonelake sells 7.6M SF light industrial portfolio for $920M

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NEWS ROUNDUP

DISPOSITION: Stonelake sells 7.6M SF light industrial portfolio for $920M. Through 13 separate transactions, Stonelake Capital Partners has sold 91 multi-tenant industrial buildings totaling 7.6M SF in the Atlanta, Austin, Dallas, El Paso, Houston, and Nashville markets. At the time of the transaction, the portfolio was 93% leased to 190 tenants. “The recent transactions represent the culmination of 7 years of hard work by the entire Stonelake Team,” Managing Partner Kenneth Aboussie says. “Stonelake assembled and created this portfolio through 49 separate acquisitions between 2018 and 2022.”

ACQUISITION: Accordia buys shallow bay facility in Charlotte, NC for $17.8M. Accordia Realty has acquired 1920 and 2020 Starita Road in Charlotte, North Carolina. The property features 2 buildings totaling 97,330 SF. The Accordia deal team included Benjamin Morgenthal, Jason Bogart, Chris Hayes, and Frank Recine. Dave Andrews with JLL represented Accordia in the transaction, while Gary Kroll with GID represented the seller.

DISPOSITION: Thalhimer sells Hampton Roads, VA portfolio for $3.47M. Cushman & Wakefield | Thalhimer has facilitated the sale of 725 and 737 Industrial Park Drive and 12685 McManus Boulevard in Newport News, Virginia. The portfolio totals 31,339 SF. Clay Culbreth with Thalhimer represented the seller, Barber Property Management LLC, in the transaction, while Thalhimer’s Taylor Anderson and Ellis Colthorpe represented the buyer, White Plaza LLC.

ACQUISITION: Venture One buys small bay building in Teterboro, NJ. Through its VK Industrial VII acquisition fund, Venture One has acquired 150 Central Avenue in Teterboro, New Jersey. The property features a 22,698 SF industrial building. Leo Josephs and Joshua Meisner with Leo Josephs & Co. represented Venture One in the transaction.

LEASE SIGNED: Metz Industrial fully leases industrial building in Garwood, NJ. The Metz Industrial Group (MIG) of Bussel Realty Corp. has facilitated the leasing of Unit B at 116 South Avenue in Garwood, New Jersey. The unit totals 5,500 SF of industrial space, and the transaction brings the facility to full occupancy. Jordan Metz, Benito Abbate, and James Friel with MIG represented the landlord in the transaction.

LAUNCH: New industrial-focused brokerage debuts in Phoenix. Nick DePaul and Preston Brimhall have founded Basis Commercial Real Estate. According to Nick, “Basis Commercial is built on a track record of closing over $100M in real estate deals across Greater Phoenix.”

SMALL BAY PROPERTIES FOR SALE

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31,400 SF | 7 Units | Fully Leased | 7% Cap Rate | 16’ Clear Height | Sprinklered | Quick Interstate Access

18,000 SF | 3.41 AC | 2 Buildings | 5,000 SF Office | 3 Drive-in Doors | Outside Storage and Truck Parking | Leased Through 10/14/2026

45,560 SF | 1.9 AC | 9 Units | 4 Dock-High Doors | 15’ Clear Height | Yard Space for Parking or Operations | Close to Tampa Intl. Airport, Veterans Expressway, Dale Mabry Highway, and I-275

SMALL BAY PROPERTIES FOR LEASE

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1,250-20,800 SF | 2 Spaces Available | 16’-32’ Clear Heights | Heavy-Duty Concrete Slab Floors | Ground-Level Drive-in Doors and Dock-High Bays | Immediate Access to I-95

1,500 SF | 9’x10’ Roll-up Door | Grade-Level Loading | Private Office | Close Proximity to I-15

Suites from 1,500-13,500 SF | Fenced Outside Storage Available | 12’ Clear Height | 3-Phase Power | Great Access to I-45, Hobby Airport, and Winkler Drive | Grade-Level Loading | Single-Tenant Building Opportunity

ONE MORE THING

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