Small Bay Daily - July 22 - Hersh Equity Group buys Miami small bay portfolio for $47.25M

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NEWS ROUNDUP

ACQUISITION: Hersh Equity Group buys Miami small bay portfolio for $47.25M. Hersh Equity Group (HEG) has acquired 5901-5981 and 5801-5897 Southwest 21st Street and 2100-2251 Southwest 59th Avenue in West Park, Florida. The properties feature 6 buildings totaling 230,000 SF that are currently leased to 116 tenants. Juda Hersh, Corey Schwartz, Jake Stauber, and Steven Ginsberg led the HEG deal team. Adam Weiss with Weiss Law represented HEG for both the purchase and the financing. Jordan Beck with Berger Commercial represented the seller, Interstate Development Ltd. Partnership.

ACQUISITION: Ackerman & Co. buys shallow bay park in Dallas-Fort Worth. Ackerman & Co., along with partner Baltisse, has acquired Midway Business Park, located at 7339-7345, 7348-7354, 7426, 7427-7429, 7437-7445, 7436, and 7450 Tower Street and 7336, 7338-7360, 7427, 7431, and 7451 Dogwood Park in Richland Hills, Texas. The portfolio features 12 buildings totaling 258,846 SF. The Ackerman deal team included Jeff Bryant and Kris Miller. Jim Carpenter, Robby Rieke, and Trevor Berry with Cushman & Wakefield represented the seller. George Jennings, Colt McCoy, and Garrison Lackey with HPI Real Estate Services & Investments will market the properties for lease.

DISPOSITION: Unique Properties sells small bay in Denver area for $2.62M. Unique Properties has facilitated the sale of 5540-5564 Gray Street in Arvada, Colorado. The property features a 15,000 SF multi-tenant warehouse. Michael DeSantis and Brett MacDougall with Unique Properties represented both the seller and the buyer in the transaction.

DISPOSITION: R&G sells small bay industrial building in Phoenix for $2.3M. The Sheehan | Schumacher Industrial Team of Rein & Grossoehme has facilitated the sale of 22001 North Black Canyon Highway in Deer Valley, Arizona. The property features a 7,700 SF industrial building. Jack Hansen, Max Schumacher, and Patrick Sheehan with R&G represented both the buyer and the seller in the transaction.

ACQUISITION: CoreOne buys shallow bay facility in Myrtle Beach, SC. CoreOne Industrial has acquired 1310-1330 17th Avenue South in Myrtle Beach, South Carolina. The property features 2 multi-tenant buildings totaling 78,648 SF. Joe Burton and Robert DePiero led the CoreOne deal team. Steven Bentolila with Bento Property Group facilitated the transaction. Curry Martin and JD Yearwood with Keystone Commercial Realty are currently marketing the property for lease. 

FINANCING: TradeLane Properties obtains $64M refi for light industrial portfolio. JLL Capital Markets has arranged a $64M floating-rate, 5-year refinancing loan for TradeLane Properties’ Midwest Light Industrial Portfolio. The 13-asset portfolio totals 1,072,021 SF in the Chicago and Cincinnati markets. Chris Gandy, Lucas Borges, and Ethan Habecker led the JLL Capital Markets team.

SMALL BAY PROPERTIES FOR SALE

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65,000 SF | 4.57 AC | 100% Leased to 5 Tenants | 13 Dock-High Doors and 2 Drive-in Doors | 22’3”-25’6” Clear Heights | Direct Access to I-64/664 and Various Port of Virginia Terminals

11,250 SF | 2.55 AC | 9 Units of 1,250 SF Each | Insulated | Private Bathroom in Each Unit | Individually Metered | No Zoning Restrictions

16,800 SF | 0.6 AC | 35 Individual Bays | Leased to 9 Tenants on Month-to-Month Leases | 23 On-site Parking Spaces | Less than 2 Miles to I-405 and US-101

SMALL BAY PROPERTIES FOR LEASE

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54,085 SF | 2.2 AC | 4 Buildings | 16’-20’ Ceiling Heights | Cosmetic Improvements in Progress | Grade-Level Loading with Common Truck Well | Mezzanine Storage

2,500-9,750 SF | Grade-Level Loading | 17’ Ceiling Height | Finished Open Reception/Office Area with ADA Restroom | Convenient Access to I-9, Downtown Spokane, and Spokane Intl. Airport

1,134 SF Available | New Construction | 2-Phase Power | 14’x12’ Overhead Door | Custom Build-out Options Available | High Ceilings | 24'-Hour Security | Close Proximity to I-95, US-1, FL-528, and FL-520

ONE MORE THING

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