Small Bay Daily - March 17 - Matterhorn Venture Partners buys small bay park in Chicagoland

Good morning. Welcome to Small Bay List! In today’s issue, we feature Matterhorn’s Chicagoland acquisition and a JV bringing a new shallow bay park to the Nashville area.

Today’s issue is sponsored by IndustrialIQ — providing comprehensive analysis and insights for small bay warehouse markets.

Now, let’s get to it!

NEWS ROUNDUP

ACQUISITION: Matterhorn Venture Partners buys small bay park in Chicagoland. Matternhorn Venture Partners has acquired 3160-3196 North Kennicott Avenue in Arlington Heights, Illinois. The property features 2 multi-tenant industrial buildings totaling 75,310 SF. The Matterhorn Venture Partners deal team included Scott McKibben and Matt Kay.

ACQUISITION: Lincoln and Principal Asset Management buy Nashville shallow bay site. Lincoln Property Co. and Principal Asset Management have acquired 41 Rachel Road in Nashville, Tennessee. The property is a 13.51 AC infill site upon which the partners will develop Skybridge 40, a 2-building Class A shallow bay industrial project totaling 167,133 SF. The Lincoln deal team included Lane Baker, while Ron Bily led the Principal Asset Management deal team. John Ward and Abigail Rieck with Cushman & Wakefield are currently marketing the property for lease.

DISPOSITION: Marcus & Millichap sells small bay warehouse in Chicago area. Marcus & Milllichap has facilitated the sale of 26735 West Commerce Drive in Volo, Illinois. The property features a 32,001 SF 5-tenant industrial warehouse and was acquired through a 1031 exchange. Kellan Gilmartin with Marcus & Millichap Midwest represented the seller in the transaction.

LEASE SIGNED: Newmark leases shallow bay facility in Baltimore, MD, area. Newmark has facilitated the leasing of 8840 Greenwood Place in Savage, Maryland. The property features a 42,689 SF industrial space. Brian Kruger, Thomas Hinder, and Erik Evans with Newmark represented the landlord, Prologis, in the transaction. The Prologis deal team included Karen Cherry, Emily Smith, Gerardo Castellanos, and Lauren Rizzi.

FINANCING: JLL arranges financing for multi-tenant warehouse in Huntsville, AL. JLL has successfully closed the acquisition financing for 355 Quality Circle in Huntsville, Alabama. The property features a 100% leased Class A multi-tenant industrial building totaling 138,330 SF. The JLL deal team included Brett Paulsrud, Bobby Norwood, Hunter Goldberg, Kelsey Bawcombe, and Jada Cooper.

FINANCING: IPA closes construction loan for small bay industrial park in Houston. Institutional Property Advisors (IPA) has successfully closed a construction loan for a 4-building small bay industrial park in Houston, Texas. Cullen Atchison and Hayden Sieling led the IPA deal team.

FROM OUR PARTNERS

SMALL BAY PROPERTIES FOR SALE

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83,607 SF | 5 AC | 48 Divisible Suites | 18’ Clear Height | 61 Total Drive-in Doors | LED Lighting | 3-Phase Power | 130 Auto Parking Spaces | Functional Drive-Through Site Circulation | Located Just Minutes from Naples Airport and I-75 | Closest Industrial Node to 5th Avenue South and More Than 20 Minutes from Nearest Competitor

16,500 SF | 6 Units | 67% Occupied | 1 Drive-in Door per Unit | Sprinklered | 16’ Ceiling Height | Close to I-41, WI-100, and Timmerman Airport

63,322 SF | 6.05 AC | 18 Units | Direct Access to US-36 and I-72 | Proximity to Decatur Airport and Norfolk Southern Rail Lines

SMALL BAY PROPERTIES FOR LEASE

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2,384 SF Available | ±500 SF Office | 15’ Ceiling Height | 1 Oversized Drive-in Door | Just Minutes from Route 17 with Convenient Access to I-287 and Garden State Parkway | Walking Distance to Allendale NJ Transit Train Station

1,576 SF Available | Warehouse with 2 Additional Office or Storage Rooms | 2 Private Restrooms | Large Bay Door | Sprinklered Building | Professionally Managed

1,250-10,000 SF | 8 Bays Available | Each Bay Includes Private Bathroom, 10’x10’ Office, and Open Warehouse Area with 14’ Ceiling Height | Just 0.25 Miles South of Highway 155/Loop 323 Intersection

ONE MORE THING

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