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Small Bay Daily - July 28 - Merritt Properties buys small bay industrial portfolio in Jacksonville, FL

Small Bay Daily - July 28 - Merritt Properties buys small bay industrial portfolio in Jacksonville, FL

Merritt buys FL portfolio. Sala buys Atlanta small bay. STRO/KRE buy NJ assets. Eleventh Street buys GA small bay. Matthews leases CO small bay. M&T arranges financing for Detroit portfolio. Basis expands C-suite. Six new small bay deals.

Matt H
July 28, 2026

Good morning. Welcome to Small Bay List!

Today’s issue is sponsored by IndustrialIQ — providing comprehensive analysis and insights for small bay warehouse markets.

Now, let’s get to it!

NEWS ROUNDUP

ACQUISITION: Merritt Properties buys small bay industrial portfolio in Jacksonville, FL. Merritt Properties has acquired Center Point Business Park, located at 4801-6631 Executive Park Court in Jacksonville, Florida. The portfolio includes 11 buildings totaling 537,800 SF and is the company’s largest acquisition to date. The Merritt deal team included Bobby Lanigan and Patrick Franklin. Royce Rose and Justin Rabin with CBRE represented the seller, Plymouth REIT. Spencer Cummings and Cassidy Bergstrom with Gunster provided legal representation for Merritt.

ACQUISITION: Sala Industrial Partners buys small bay warehouse in Atlanta for $4.3M. Sala Industrial Partners has acquired 4900 Avalon Ridge Parkway in Peachtree Corners, Georgia. The property features a 34,948 SF industrial building. David Gessler and Miles Bronstein led the Sala deal team in the transaction.

ACQUISITION: The STRO Cos., KRE Group buy industrial assets in Elmwood Park, NJ. A joint venture between The STRO Companies and Kushner Real Estate Group (KRE Group) has acquired 5 and 30 Paul Kohner Place in Elmwood Park, New Jersey. The property includes 3 warehouse/distribution buildings totaling 120,000 SF on 7.4 AC. The site is being repositioned as a Class A industrial outdoor storage (IOS) site on 4.5 AC that is currently available for lease. 5 Paul Kohner Place, a 60,000 SF warehouse/distribution facility, is currently available for lease and/or sale. (Leasing or sales inquiries should be directed to Gabe Millstein with The STRO Cos.) IDB Bank provided bridge financing for the transaction. Eli Millstein and Jonathan Kushner led The STRO Cos. and KRE Group deal teams, respectively, in the transaction. (Interested in IOS? Check out our sister publication IOS List.)

ACQUISITION: Eleventh Street Partners buys small bay asset in Chattanooga metro area. Eleventh Street Partners (ESP) has acquired a 19,200 SF multi-tenant small bay industrial asset in Rossville, Georgia. The deal marks ESP’s 2nd acquisition in the Chattanooga metro area. Anand Nair led the ESP deal team in the transaction.

LEASE SIGNED: Matthews fully leases up small bay park in Southern Colorado. Matthews has fully leased up the small bay industrial space available at 589 East Industrial Boulevard in Pueblo West, Colorado. A few IOS lots remain available for lease. Spencer Mason with Matthews represented the landlord in the transactions.

M&T arranges financing for Detroit small bay portfolio

FINANCING: M&T Realty Capital Corp arranges $17.6M loan for Detroit-area small bay portfolio. M&T Realty Capital Corp has arranged a $17.6M loan for a small bay industrial portfolio in Lake Orion, Michigan. The portfolio consists of 5 properties totaling 254,654 SF. Robert Kelly and Jason Morrill led the M&T deal team in the transaction, which took just 28 days from start to finish.

PEOPLE MOVES: Basis Industrial expands leadership team with new CEO, COO. Basis Industrial has promoted Anthony Scavo to the role of CEO and Managing Partner. Anthony has been a member of the Basis team since July 2021, previously serving as Senior Managing Partner. As CEO, he will continue to direct the company’s investment strategy. Basis Industrial has also hired Nisha Patel to serve as Chief Operating Office (COO). Prior to joining the Basis team, Nisha served as COO of Levin Management Corp and held leadership positions at Essential Properties Realty Trust and PGIM Real Estate.