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Small Bay Daily - July 30 - BKM buys park in Portland, OR for $63M

Small Bay Daily - July 30 - BKM buys park in Portland, OR for $63M

BKM buys Oregon industrial park. Avison Young sells Florida small bay. CBRE sells California small bay. Pinnacle sells Colorado portfolio. Colliers leases Georgia small bay. Six new small bay listings.

Katherine Peach
July 30, 2024

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NEWS ROUNDUP

ACQUISITION: BKM buys industrial park in Portland, OR for $63M. BKM Capital Partners has acquired Columbia Commerce Park, a 10-building development located at 5743 Northeast 59th Place in Portland, Oregon. The park consists of 30 shallow-bay and mid-bay units totaling 375,429 SF of indoor space. The BKM deal team included Brian Malliet and Mason Waite.

DISPOSITION: Avison Young sells small bay facility in FL for $11M. The Florida Capital Markets Group of Avison Young has brokered the sale of 3866 Prospect Avenue in West Palm Beach, Florida. The 3-building asset comprises 52,740 SF of indoor space. The closing price of $208 per SF is more than 3 times the price at which Avison Young previously sold the property in 2014. The Avison Young deal team was led by Brian de la Fé. The buyer was Twenty Lake.

DISPOSITION: CBRE sells small bay park in San Dimas, CA for $9.23M. CBRE has facilitated the sale of Arrow Pines Business Park, an asset consisting of 210 and 260 West Arrow Highway and 440 South Cataract Avenue in San Dimas, California. The multi-tenant complex totals 44,125 SF of industrial space on 3.17 acres. The sellers were Birtcher Anderson Davis & Associates and Belay Investment Group. The buyer was Arrow SD LLC. The CBRE deal team included Anthony DeLorenzo, Barbara Perrier, Dylan Rutigliano, Eric Cox, Gerard Poutier, and Mark Shaffer.

DISPOSITION: Pinnacle sells portfolio in Denver, CO for $3.225M. Pinnacle RE Advisors has sold a 19,597 SF industrial portfolio consisting of 2261 West Cornell Avenue and 3050 South Zuni Street in Englewood, Colorado, a Denver suburb. Pinnacle’s Chase Grimes represented the seller, while Kristjan Danis represented the buyer.

LEASE SIGNED: Colliers leases small bay in Garden City, GA. Zachary Zakas of Colliers’ Savannah Industrial Group has leased 176 Pine Barren Road, Unit A in Garden City, Georgia. The unit features 22,500 SF of warehouse space. The lease brings 165 Pine Barren Road to 100% occupancy.

READ: Why small industrial spaces are in such short supply.