Small Bay Daily - May 20 - Parallel Capital Partners buys San Diego small bay park for $67M

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NEWS ROUNDUP

ACQUISITION: Parallel Capital buys San Diego small bay park for $67M. Parallel Capital Partners has acquired Rose Canyon Business Park, located at 4901-4907 Morena Boulevard in San Diego, California. The property features 15 multi-tenant industrial buildings totaling 234,000 SF and complements Parallel’s November acquisition of 5 & 52 Business Park. The seller was Vertical Ventures. The Parallel deal team was led by Matt Root.

ACQUISITION: Clear Height buys shallow bay facility in Chicago metro area. Clear Height Properties and partner Long Wharf Capital have acquired 2400 South 27th Avenue in Broadview, Illinois. The property features a 37,254 SF industrial building plus an oversized industrial yard. Clear Height’s leadership team includes Dominic Sergi, Joe Sergi, and Gary Rose. Joe Bronson, Patrick Dwyer, and Pat Clifford with NAI Hiffman brokered the sale and are currently marketing the property for lease.

DISPOSITION: Matthews sells small bay facility in Atlanta metro area. Matthews Real Estate Investment Services has facilitated the sale of 8108 GA-85 in Riverdale, Georgia. The multi-tenant industrial building totals 6,541 SF. In addition to representing the seller, Matthews helped structure seller financing for an out-of-state buyer. The Matthews deal team was led by Harrison Auerbach and Nick Watson.

LEASE SIGNED: JLL leases Tampa area shallow bay warehouse. JLL has facilitated the leasing of 30,780 SF at Sunlake Business Center, located on Pasco Business Center Way in Lutz, Florida. The property is owned by Stonemont Financial Group. The JLL deal team included Peter Cecora, John Dunphy, Harrison Pithers, Olivia Brock, and Lindsey Harris. The Stonemont deal team included David Kaplan, Avery Dorr, and Dusten Estes.

LEASE SIGNED: Kidder Mathews leases Los Angeles area small bay. Kidder Mathews has facilitated the leasing of 9560 Owensmouth Avenue in Chatsworth, California. The property features a 9,173 SF industrial building with a gated yard. Ryan McKenzie led the Kidder Mathews deal team.

LEASE SIGNED: Lee & Associates leases shallow bay facility in Chicago area. Lee & Associates has facilitated the leasing of 1870 Elmdale Avenue in Glenview, Illinois. The property features a 44,458 SF industrial building. Jeffrey Janda, John Cassidy, and Bradley Simousek with Lee & Associates of Illinois represented the landlord, DRA Advisors, in the transaction. Nicholas Schurer with Vestian Global Workplace Services represented the tenant, Lakeshore Academy Gymnastics North.

SMALL BAY PROPERTIES FOR SALE

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85,225 SF Small Bay Industrial Portfolio in Affluent DC Suburb | 4.68 AC of Mixed-Use Zoned Land Adjacent to Future Residential Development | 98% Leased with 2.25 Years WALT | Strong Rent Growth | Close to I-270, I-495, and Washington, DC

14,250 SF | 0.47 AC | 2 Units | 18’ Ceiling Height | Excellent Last-Mile Connectivity Across Greater Los Angeles | Close to I-710 and CA-91

13,010 SF | 1.99 AC | 9,540 SF Warehouse with 6 Units | 3,470 SF Single-User Building | 100% Leased with Below-Market Lease Rates with 1-2 Years Left of Term with Each Tenant

SMALL BAY PROPERTIES FOR LEASE

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7,604 SF | Small Office | 1 Dock and 1 Door with Ramp | 3,000 SF Outdoor Storage | Close to I-440, Capital Boulevard, and Downtown Raleigh

1,800-3,600 SF | 2 Spaces Available | 1,800 SF Space Has 1,050 SF Outdoor Storage Yard and 2 Grade-Level Doors | 3,600 SF Space Has 2,100 SF Outdoor Storage Yard and 4 Grade-Level Doors

3,690 SF Available | Recently Updated with New Office and Restroom | New Roof and New Concrete Parking Lot | 10’x12’ Grade-Level Roll-up Door

ONE MORE THING

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