Small Bay Daily - June 4 - BKM, Kayne Anderson buy $1.8B portfolio of light industrial assets

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NEWS ROUNDUP

ACQUISITION: BKM, Kayne Anderson buy $1.8B portfolio of light industrial assets. BKM Capital Partners and joint venture (JV) partner Kayne Anderson have acquired an 8.5M SF portfolio of light industrial assets from Link Logistics. The transaction makes the JV one of the country’s largest owner-operators of multi-tenant light industrial assets, with a total of roughly 15M SF under management. The portfolio includes 51 properties in California, Washington, Texas, and Georgia and features roughly 2,000 units across 275 buildings. The BKM team is headed by Brian Malliet, while Al Rabil leads the Kayne Anderson Real Estate team.

ACQUISITION: Hornet Real Estate buys small bay assets in Dallas and Houston metros. Hornet Real Estate has acquired 2 properties totaling 78,950 SF across the Dallas and Houston metro areas. Scott Birne led the Hornet Real Estate deal team. Jack Britton with JLL secured non-recourse bank financing for both acquisitions. Hornet is already underway on value-add business plans, including roof replacement, parking expansion, and vacant lease-up. The properties are:

• 1509-1531 Central Park Drive in Hurst, Texas — 2 buildings totaling 41,000 SF on 2.8 AC. Ty Underwood with SLJ Co. facilitated the transaction.

• 12701 Executive Drive in Stafford, Texas — a 37,950 SF building on 2.1 AC. William Carpenter with KBC Advisors facilitated the transaction.

DISPOSITION: JLL sells shallow bay industrial portfolio in Fort Myers, FL. JLL has facilitated the sale of Meridian Business Campus, located at 16101-16251 Parallel Drive in Fort Myers, Florida. The portfolio features 4 buildings totaling 208,447 SF. The JLL deal team included John Huguenard, Cody Brais, and Luis Castillo.

ACQUISITION: CenterSquare buys essential service industrial building in Atlanta. CenterSquare Investment Management has acquired 2395 Pleasantdale Road in Atlanta, Georgia. The property features a 99,283 SF infill industrial building with an average suite size of 9,000 SF. Frank Dalicandro and Peter Banfe led the CenterSquare deal team. Ryan Blackburn with Apex Industrial Real Estate Advisors facilitated the off-market transaction.

ACQUISITION: Birdsong Capital Partners buys small bay asset in Nashville area. Birdsong Capital Partners has acquired 107 and 109 Century Court in Franklin, Tennessee. The features an 11,000 SF industrial facility plus more than 1 AC of industrial outdoor storage (IOS). Tim Bassett, Benton Ozburn, and Nick Jones led the Birdsong deal team. Bradley Worthington and Griffin Farriss with Stream Realty Partners facilitated the transaction. (Interested in IOS? Check out our sister publication IOS List.)

LEASE SIGNED: Lee & Associates fully leases shallow bay facility in Clearwater, FL. Lee & Associates has 100% leased 12485-12555 44th Street North in Clearwater, Florida. The property features 3 multi-tenant industrial buildings totaling 46,543 SF. Jessica Mizrahi, Edward Killmer, and Benjamin Ewers with Lee & Associates | Tampa Bay represented the landlord, Oracle Equity Group. Eli Sabbagh led the Oracle deal team.

FROM OUR PARTNERS

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SMALL BAY PROPERTIES FOR SALE

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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

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

For Sale and Lease | 10.4 AC | Fully Approved for 6 Buildings Totaling 86,550 SF at $30/SF | Seller Financing Available | Close to I-195, NJ Turnpike, US-9, and Garden State Parkway | Email for Details

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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