Small Bay Daily - July 29 - Speed Bay buys Philadelphia-area light industrial portfolio for $75.5M

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NEWS ROUNDUP

ACQUISITION: Speed Bay buys Philadelphia-area light industrial portfolio for $75.5M. Speed Bay Warehouse Solutions has acquired a portfolio of light industrial assets in the Philadelphia/Southern New Jersey market. The portfolio features 8 multi-tenant buildings totaling 488,936 SF with an average unit size of 20,372 SF. The Speed Bay team includes Evan Zucker, Jimmy Mulvihill, Rob Sistek, Matthew Stephenson, Lainie Papadakis Minick, Michael Moriarty, Jenna Macartney, Howard Pollack, and Carter Bass The properties in the portfolio are:

• 824 East Gate Drive in Mount Laurel, New Jersey

• 741 5th Avenue in King of Prussia, Pennsylvania

• 780 Primos Avenue in Folcroft, Pennsylvania

• 1 Judy Way in Aston Township, Pennsylvania

• 1, 3, 5, and 7 Chelsea Parkway in Boothwyn, Pennsylvania

DISPOSITION: Newmark sells small bay portfolio in Northern Virginia. Newmark has facilitated the sale of Innovation Business Park, located on Innovation Drive in Manassas, Virginia. The portfolio features 3 buildings totaling 125,443 SF. Benjamin McCarty, Cris Abramson, Nick Signor, Henry Pleszkoch, Sam Slater, and Will Bradley with Newmark represented the seller, Buchanan Partners, in the transaction. Lucas Morrison led the Bucahan deal team. The buyer was Penzance, led by Bob Bechtel and Erin Chakroff.

LEASE SIGNED: Lucern Capital Partners leases out small bay space in DC metro area. Lucern Capital Partners has leased out 2,638 SF of industrial space at 5810 Kirby Road in Clinton, Maryland. The new tenant is LD Auto. Frank Forte led the Lucern deal team. Aaron Carroll with KLNB represented Lucern in the transaction.

LEASE SIGNED: Lee & Associates leases small bay space in Dallas-Fort Worth area. Lee & Associates has facilitated the leasing of 2,572 SF at Grove Business Park, located at 777-797 North Grove Road in Richardson, Texas. Jessica Reinhardt and Susan Cancemi with Lee & Associates Dallas-Fort Worth represented the landlord, Dallas North Industrial, in the transaction. Christian Moore with Mercer Co. represented the tenant, USA Datafax Inc.

FUNDING: Sapphire Industrial Lending closes $9.45M loan for Miami small bay. Sapphire Industrial Lending has provided an acquisition bridge loan to Decker Capital for a small bay property located in North Miami Beach, Florida. Chaim Friedman led the Sapphire deal team. Shane Decker and Peleg Amzalag led the Decker Capital deal team.

FROM OUR PARTNERS

As experienced industrial operators, we understand the unique dynamics of Small Bay assets. Our high leverage lending solutions are designed for Industrial, providing the flexibility investors and operators need to execute on their business plan.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

109,688 SF | 2 Assets with a Versatile Mix of Warehouse, Medical Office, Lab, and Production Space | UBC I Has 2 Grade-Level Doors and 16’ Clear Height | UBC II Has a Traditional Truck Court and 18’ Clear Height | 98% Occupied with Significant Mark-to-Market Opportunity | Close to Moffitt Cancer Center, University of South Florida, and Uptown Tampa

Plans in Place for 48,000 SF Facility with 48 Units Across 4 Buildings | 6.03 AC | Shovel-Ready Project Includes All Entitlements, Completed Engineering, and Architectural Plans for Immediate Construction Start | Each Building Will Feature Secure Access, Insulated Construction, and Flexible Unit Configurations | Direct Access to KS-7 and Minutes to I-435/I-35 Interchange | Easy Connection to Kansas City Intl. Airport

42,361 SF | 1.77 AC | Grade-Level Loading | Newly Renovated Suites | New Exterior Paint | Power Upgrades | HVAC Upgrades | Proximity to San Antonio Intl. Airport | Asking Price: $5,800,000

SMALL BAY PROPERTIES FOR LEASE

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20,000 SF Available | 24’ Clear Height | 1,000 SF Office | 2 Dock Doors with Knockouts | 2 Drive-in Doors | LED Lighting | Wet Sprinkler | Ample Car/Trailer Parking | Close to US-222 Business, PA-12, I-78, Reading, and Allentown

30,640 SF Available | 100% HVAC | Warehouse with 3 Loading Docks | ±700 SF Office Space with 2 Offices and 2 Restrooms | 16’ Clear Height | Onsite Property Management | Heavy 3-Phase Power | Brand-New Roof and Exterior LED Lighting | Close to I-30, I-35, I-20, Loop 820, and Chisholm Trail Parkway

110,000 SF | New Construction with Bays Ranging from 588-1,120 SF | Each Unit Has Office, Bathroom, and AC | Conveniently Located Right at Exit Ramp for I-95 | More than 800’ of I-95 Frontage | Close to Melbourne Orlando Intl. Airport, Port Canaveral, and CSX Intermodal-Orlando-FL

ONE MORE THING

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