Small Bay Daily - March 31 - Equus buys small bay business park in Charlotte, NC, for $102M

Good morning. Welcome to Small Bay List! In today’s issue, we’ll discuss a small bay business park sale in the Charlotte metro and a Minneapolis area industrial sale.

Now, let’s get to it!

NEWS ROUNDUP

DISPOSITION: Equus buys small bay business park in Charlotte, NC, for $102M. Equus Capital Partners has acquired Greylyn Business Park, located at 9101-9535 Monroe Road in Charlotte, North Carolina. The property consists of 19 multi-tenant industrial buildings totaling 648,060 SF. Tim Feron, Laura Brestelli, and Tucker Scaringe led the Equus deal team. Robert Hardaway, Patrick Gildea, Matt Smith, Alek Salfia, Sarah Thompson, Anna Strange, Anne Johnson, Noah Rutberg, and Bryan Crutcher with CBRE represented the seller, Weston Inc., in the transaction. JP Cordeiro, Mike Ryan, Taylor Mathis, and Will Chapman — also with CBRE — arranged the financing.

DISPOSITION: Colliers sells small bay facility in Minneapolis metro area. Colliers has facilitated the sale of 4200 Park Glen Road in St. Louis Park, Minneapolis. The property features an 82,895 SF small bay multi-tenant asset and was peeled off from a larger institutional industrial portfolio. Peter Loehrer, Mark Kolsrud, and Tom O’Brien led the Colliers deal team in the transaction.

ACQUISITION: Mandolin Partners buys shallow bay assets in Greensboro, NC. Mandolin Partners has acquired 4355 and 4361 Federal Drive in Greensboro, North Carolina. The property features 2 multi-tenant industrial buildings totaling 62,400 SF. Tommy Whitmore and Nolan Ashton with Colliers represented Mandolin Partners in the off-market transaction. Keith Medlin and Zach Keiger, also with Colliers, facilitated the debt placement. Ryan Conboy, Jason Ofsanko, and Jordan Mitchell with Cushman & Wakefield are currently marketing the property for lease.

DISPOSITION: Lee & Associates sells industrial building in Orlando metro for $6.5M. Lee & Associates has facilitated the sale of 14748 West Colonial Drive in Winter Garden, Florida. The property features a 35,806 SF industrial building, and the buyer is a pickleball user. Ryan Griffith, Christopher “CJ” Griffith, and Charles Duvall with Lee & Associates represented the seller in the transaction.

LEASE SIGNED: Rise Property Group leases Atlanta metro small bay. Rise Property Group has facilitated the leasing of 1720 McCoba Drive in Smyrna, Georgia. The property features a 20,000 SF industrial building. Josh Yao and Jack Kimbrel with Rise represented the landlord, Circle Industrial, in the transaction.

DEVELOPMENT: Mangat Group plans to spend $250M on small bay projects in Phoenix area. The Mangat Group has announced that it plans to spend $250M across 4 small bay industrial developments in the greater Phoenix area. Tony Mangat leads The Magnat Group. The projects are:

• 71 units totaling 93,000 SF on Glendale Avenue and New River Road in Glendale, AZ

• 31 units totaling 84,000 SF also near Glendale Avenue and New River Road

• 28 units totaling 75,000 SF on Baseline Road and Loop 202 in Phoenix

• 89 units totaling 175,000 on Watson Road and MC-85 in Buckeye, AZ

READ: Shallow bay space is aging but still in high demand.

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SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

11,500 SF | 1.3 AC | 10 Users Currently Occupy ±85% of Building | Below-Market Month-to-Month Rents | Close Proximity to Airport and Easy Access to Highway 52 | 12 Drive-in Doors

48,000 SF | 7.52 AC | 3-Building Asset: 2 Existing 18,000 SF Structures Developed in 2024 and a 12,000 SF Facility Expected to Be Completed in 2026 | Existing Properties Feature 14 Units | 20’-24’ Clear Heights | 27 Grade-Level Doors

24,426 SF | 0.9 AC | 15 Units | Professionally Managed Industrial Park | 100% Leased | 6.50% Cap Rate | Brand-New Renovations | 20 Ground-Level Doors | Assumable Financing Available

SMALL BAY PROPERTIES FOR LEASE

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5,400-56,700 SF Available | Durable Metal Construction | 22’ Clear Height | Dock-High and Drive-in Access | 30’x 45’ Column Spacing | Wet Sprinkler System Throughout | Energy-Efficient LED Lighting | ± 149 Shared Parking Spaces

1,535-7,320 SF Available | 4 Units Available | 353 SF of Existing Office per Suite | Loading per Suite: Cross Dock, 2 | 18’ Clear Height | Oversized 12’x14’ Grade-Level Doors | Located Directly Across from Austin-Bergstrom Intl. Airport

3,500-7,000 SF | 2 Combinable Units Available | (1) 12’x14’ Drive-in Door per Unit | 18’6” Clear Height | 40’x40’ Column Spacing | Each Unit Includes Office Space | Full Wet Sprinklers | 3-Phase Power | Close Proximity to I-55 and I-355

ONE MORE THING

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