Small Bay Daily - June 11 - Bleecker Partners buys infill industrial portfolio in Houston

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NEWS ROUNDUP

ACQUISITION: Bleecker Partners buys infill industrial portfolio in Houston. Bleecker Partners has acquired a 28-building, 880,000 SF industrial portfolio in Houston, Texas. The property features Class B business parks, manufacturing facilities, and last-mile distribution centers that are positioned along the I-610 Loop. Eastdil Secured represented the seller, while NBH Bank provided an acquisition loan. The Bleecker Partners team is led by Ethan Silverman, Ben Siegel, and Dennis Gallo. The properties in the portfolio are:

• Northeast Trade Center, 5400 Mesa Drive

• Jester Plaza, 3500 West TC Jester Boulevard

• Wayside Business Center, 4300 South Wayside Drive

• Harwin Business park, 9301-9307 Harwin Drive

• Scranton Manufacturing and Distribution Park, 8700-9000 Scranton Street

ACQUISITION: Miramar buys small bay portfolio in Phoenix metro area. Miramar Capital Advisors, along with an institutional investor, has acquired a small bay industrial portfolio within the Pima Center of Scottsdale, Arizona. The portfolio features 5 buildings totaling 317,000 SF and is 100% occupied by 12 unique tenants with a weighted average lease term of ~6 years. Miramar now owns 9 buildings totaling 581,000 SF in the Pima Center. Peter Eichler, Brandon Miller, and Sallar Tahbaz led the Miramar deal team. Will Strong and Michael Matchett with Cushman & Wakefield facilitated the transaction.

ACQUISITION: Dunbar buys small bay park in Southern California. Dunbar Real Estate Investment Management has acquired West Oaks Park, located at 30941 and 30961 Agoura Road in Westlake Village, California. The property features 2 multi-tenant buildings totaling 69,554 SF. James DeBuiser with Marcus & Millichap facilitated the transaction. Grant Fulkerson and Jared Smits with Lee & Associates will market the property for lease.

DISPOSITION: JLL sells shallow bay asset in Boston metro area. JLL has facilitated the sale of 215 Salem Street in Woburn, Massachusetts. The property features a 62,155 SF multi-tenant shallow bay industrial building. The buyer was Kadima Industrial Partners, led by Zev Markowitz, Michael Mintz, and Noah Matarasso. The JLL deal team included Tommy Hovey, Michael Restivo, David Coffman, Alison Howard, Ryan Parker, and Hunter Cuthbertson. Hannah Kiernan, Griffin Zink, and Jamey Lipscomb — also with JLL — are currently marketing the property for lease.

FINANCING: Argentic provides $83.8M loan for Arden Logistics’ portfolio acquisition. Argentic has provided an $83.8M acquisition loan to Arden Logistics Partners (ALP) for the acquisition of a 659,000 SF portfolio of light industrial assets in the Atlanta metro area. The debt was structured as a floating-rate loan. Gideon Gil, Taylor Geiger, Cecelia Galligan, and Crawford Bundy with Cushman & Wakefield arranged the transaction. Charlie McCombs and Reza Javaheri led the ALP deal team. The sellers were Onward Investors and Prospect Ridge.

PEOPLE MOVES: BKM Capital Partners names new CFO and COO. BKM Capital Partners has announced that Mike Valdes will succeed Bill Galipeau as Chief Financial Officer and Chief Operating Officer. “Bill has been an invaluable partner to our organization and a highly respected leader across the industry,” BKM Founder, CEO, and CIO Brian Malliet said. Previously, Mike served as BKM’s Senior Managing Director of Finance and Accounting.

SMALL BAY PROPERTIES FOR SALE

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94,638 SF | 5.87 AC | 4 Buildings | 23 Units Ranging from 2,450-4,900 SF with Ability to Combine up to ±8,000 SF | Built in 2009, 2013, 2015, and 2019 | Diverse Tenant Base with 96% Occupancy | 7.1% in Place Cap Rate | Below-Market Rents | Located in Deer Creek/Edmond Growth Corridor | Asking Price: $11,500,000

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

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

SMALL BAY PROPERTIES FOR LEASE

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1,300-3,600 SF | 3 Units Available | Each Unit Has Private Grade-Level Door Access (14’) | 21’-26’ Clear Heights | 3-Phase Power | Units Combine Open Shop Space with Finished Office and Mezzanine Storage

1,200-4,500 SF Available | Exceptional Access to US-1 and I-95 | Flexible Warehouse Configurations | Grade-Level Roll-up Doors | 18’ Clear Height | Ample Parking | Freshly Painted Walls and Floors

1,860 SF | 4 Units Available | 1 Unit Features Furnished Office | 14’ Overhead Doors | 15’-18’ Clear Heights | Private Restrooms | Convenient Access to Park City, Kamas Valley, and Surrounding Summit Co. Markets

ONE MORE THING

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