Small Bay Daily - July 3 - Faropoint buys Mapletree shallow bay portfolio for $328M

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NEWS ROUNDUP

ACQUISITION: Faropoint buys Mapletree shallow bay portfolio for $328M. Faropoint has acquired a 1.8M SF industrial portfolio from Mapletree Investments. The purchase marks Faropoint’s largest acquisition since its 2012 founding. The portfolio includes 30 shallow bay industrial buildings located in Florida, Georgia, New Jersey, Pennsylvania, and Texas. The Mapletree deal team was led by Richard Prokup. The Faropoint deal team included Ohad Porat and Yannai Gordon. John Huguenard and Trent Agnew with JLL represented Mapletree in the transaction.

ACQUISITION: Town Lane buys Raleigh-Durham portfolio for $261M. Town Lane has acquired a 2.7M SF shallow bay industrial portfolio from Colebridge Real Estate Investors and Equus Capital Partners. Equus will retain a minority stake in the portfolio. The portfolio features 55 industrial buildings in 6 industrial parks in the Raleigh-Durham area, as well as 40 acres of land that may be developed. Garret Overlock led the Town Lane deal team. The properties are:

• Lincoln Park Central — 2200 Westinghouse Boulevard

• Lincoln Park East — 1200 Corporation Parkway

• Lincoln Park North — 3208 Spottswood Street

• Lincoln Park South — 1800 Garner Station Boulevard

• Presidential Park West — 2320 Presidential Drive

• Sumner Business Park — 2600 Sumner Boulevard

DISPOSITION: CBRE sells small bay building in Miami metro area for $9M. CBRE has facilitated the sale of 6461 Garden Road in Riviera Beach, Florida. The property features a 38,661 SF multi-tenant warehouse. Tyler Kuhlman with CBRE represented both the buyer and the seller, FP Riviera, in the transaction.

ACQUISITION: WREN Capital buys small bay property in Phoenix for $3.725M. WREN Capital has acquired 8855 North Black Canyon Highway in Phoenix, Arizona. The property features a 21,000 SF industrial building plus 1.29 acres with industrial outdoor storage (IOS) space. The WREN Capital deal team included Thomas Roberts, Michael Roberts, Jeff Roberts, and Reed Williams. Will Groves with Cushman & Wakefield represented WREN in the transaction, while Payton Kruidenier with Ross Brown Partners represented the seller. (If you’re interested in IOS, check out our sister publication IOS List.)

ACQUISITION: Transwestern brokers sale of small bay in Fort Worth, TX. Transwestern has facilitated the sale of 3801 Cockrell Avenue in Fort Worth, Texas. The property features a 24,664 SF industrial building with 5 dock-high and 3 grade-level doors. Todd Hawpe with Transwestern represented the buyer, Gyant Properties LLC, in the transaction and is currently marketing the property for lease.

LEASE SIGNED: AKRE Partners leases small bay facility in Laredo, TX. AKRE Partners has leased 310 Union Pacific Boulevard in Laredo, Texas, less than 1 month after closing on it. The property features a 16,945 SF industrial building, and the new tenant is a customs brokerage firm based in Mexico. The AKRE deal team included Harry Ashforth. Joey Ferguson and Cristy Swisher with NAI Swisher & Martin Realty facilitated the transaction.

SMALL BAY PROPERTIES FOR SALE

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13,200 SF | 1.43 AC | (7) 12’x12’ Overhead Doors | 16’ Ceiling Height | 3-Phase Heavy Power | Fully Gated | Easy Access to I-69 and TX-242

16,256 SF | 1.29 AC | 7 Units | Fully Leased to 5 Tenants | Below-Market Rents and Short-Term Leases in Place | Many Recent Capital Improvements | Excellent Access to I-465 and Shadeland Avenue | Heavy 3-Phase Power

18,850 SF | 1.16 AC | 12 Units | Bay Sizes from 1,200-3,200 SF | 17’ Clear Height | Easy Access to Major Transportation Routes | 91.4% Occupancy

SMALL BAY PROPERTIES FOR LEASE

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10,000 SF | 12’x12’ Grade-Level Door | Brand-New 10’x10’ Dock Door | 10’5” Clear Height at Eaves and 15’5” at Center | 36,500 SF of Partially Fenced Yard Space | Quick and Easy Access to US-421 and NC-87

2,400 SF | (2) 12’x10’ Grade-Level Roll-up Doors | 18’-20’ Clear Heights in Warehouse | 2 Connected Office Units with 2 Restrooms | Close to I-4

2,096-2,480 SF | 3 Spaces Available | Showroom and Warehouse Space | Roll-up Doors | 100% HVAC | Ingress/Egress on University Drive | Monument/Building Signage Available

ONE MORE THING

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