Small Bay Daily - March 25 - CBRE sells Miami area small bay portfolio for $16.8M

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NEWS ROUNDUP

DISPOSITION: CBRE sells small bay portfolio in Miami metro area for $16.8M. CBRE Capital Markets has facilitated the sale of 4574 Dyer Boulevard, 4249-4261 Westroads Drive, and 6677-6687 42nd Terrace North in Riviera Beach, Florida. The portfolio consists of 7 multi-tenant small bay facilities totaling 95,325 SF. Tyler Kuhlman with CBRE represented both the buyer, Twenty Lake Holdings, and the seller, Brightleaf Management, in the transaction.

ACQUISITION: Westbrooke/Jade buy small bay facility in NJ for $11.4M. Westbrooke Alternative Asset Management USA and partner Jade Investments have acquired 5142, 5144, and 5146 West Hurley Pond Road in Wall Township, New Jersey. The portfolio consists of 3 multi-tenant industrial buildings totaling 70,000 SF. The Westbrooke deal team was led by Jonathan Loeb.

ACQUISITION: K2 Real Estate Capital buys small bay portfolio in North Carolina. K2 Real Estate Capital and partner Bear Development Holdings have acquired 610, 616, and 621 Indeneer Drive in Kernersville, North Carolina. The property features 3 multi-tenant industrial buildings totaling 43,750 SF. The K2 deal team included Mitchell Kaplain and Robert Kaplain. The seller was Lucern Capital Partners, led by Frank Forte. Sam Haus with CBRE is currently marketing the property for lease.

ACQUISITION: CanTex buys small bay warehouse in Dallas, TX. CanTex Capital has acquired 1212 Medical District Drive in Dallas, Texas. The property features a 21,200 SF industrial warehouse on 1.01 acres and is currently fully leased to Children’s Health. The CanTex team is led by Romy Cheema and Sam Cheema. Chase Miller with NAI Robert Lynn facilitated the transaction.

LEASE SIGNED: Waypoint leases warehouse plus IOS in Greeley, CO. Waypoint Real Estate has facilitated the leasing of 401 17th Street in Greeley, Colorado. The property features a 32,225 SF warehouse, as well as 5.5 acres of fenced industrial outdoor storage (IOS). The Waypoint deal team included Brian Smerud and Erik Caffee. (If you’re interested in IOS properties, check out our sister publication IOS List.)

READ: Rectangle Group makes the case for small and shallow bay industrial.

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SMALL BAY PROPERTIES FOR SALE

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16,600 SF | 0.83 AC | 1-3 Units | 16’-17’ Clear Heights | Gated Yard | Easy Access to Los Angeles, Orange County, and Inland Empire

18,125 SF | 1.08 AC | (15) 1,200 SF Bays | 3 Parking Space per Bay | Extra Parking in Back of Lot | Recently Completely Renovated | 12’ Bay Doors | I-2 Heavy Industrial Zoning | Close to Downtown Gainesville, Gainesville Regional Airport, and I-75

17,520 SF Total | 2 Buildings | 5 Units | 100% Leased | 6.12% Cap Rate | Value-Add Opportunity | Close to Asheville and Asheville Regional Airport

SMALL BAY PROPERTIES FOR LEASE

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3 Freestanding Buildings (Can Be Demised): 2,245 SF Office Building, 11,151 SF Warehouse, and 9,680 SF Warehouse | 3.05 AC | Fully Fenced, Paved, and Secured Yard | 2 Entrances/Exits | | Close to I-5, I-805, and CA-905

40,000 SF Available | Building A: 30,000 SF; Building B: 10,000 SF | 1 Dock | 13 Roll-up Doors | Close to US-41 and Venice Municipal Airport

4,000-8,600 SF | Clean Warehouse with 2 Dock Doors | 600 SF Office with Break Room and Bathroom | Ample Laydown Area

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