Small Bay Daily - May 22 - JLL sells Boston area shallow bay property for $26M

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NEWS ROUNDUP

DISPOSITION: JLL sells Boston area shallow bay property for $26M. JLL Capital Markets has facilitated the sale of 295 Union Street in Walpole, Massachusetts. The property includes an 85,159 SF multi-tenant industrial facility. The buyer was Stockbridge. Michael Restivo, David Coffman, and Tommy Hovey with JLL represented the sellers, Casco Real Estate Partners and Berkeley Partners, in the transaction. JLL’s Joseph Fabiano and Michael Ciummei have successfully leased up the property, in addition to assisting with the sale.

DISPOSITION: Colliers sells multi-tenant flex/industrial park in Bay Area. Colliers represented both the seller, PJMB Commercial, and the buyer, Dollinger Properties, in the sale of North Canyons Business Center. Located at 3025-3095 Independence Drive in Livermore, California, the business park features 6 buildings totaling 105,820 SF. The Colliers deal team included Michael Carrigg, Michael Donnelly, Kevin Moul, Brad Idleman, Bob Gilley, and Andrew Zighelboim.

DISPOSITION: Voit sells small bay warehouse in Los Angeles area for $2.66M. Voit Real Estate Services has facilitated the sale of 15058 Sierra Bonita Lane in Chino, California. The property features a 7,226 SF industrial building. Ian Ozimec and Shy Assar with Voit represented both the buyer and the seller in the transaction.

ACQUISITION: Venture One buys midbay industrial facility in Chicago. Venture One Real Estate has acquired 235 North Artesian Avenue in Chicago, Illinois, through its VK Industrial VII acquisition fund. The property features a 56,068 SF industrial building. Cal Kropke and John Huguenard with JLL represented the seller in the transaction. Larry Goldwasser, Matt Cowie, and John Marks with CBRE are marketing the property for lease or sale. The Venture One deal team was led by Mark Goode and Roy Splansky.

LEASE SIGNED: BRC leases 2 midbay industrial units in Somerset, NJ. Bussel Realty Corp. (BRC) has facilitated the leasing of 102,393 SF of industrial space at 1100 Randolph Road in Somerset, New Jersey. Anthony Rittwager with BRC represented the landlord, JWH Real Estate Holding, in the separate transactions. Ukay Trucking & Delivery Services has leased 52,638 SF, while Farmmi USA Inc. has leased 49,755 SF.

DEVELOPMENT: Shallow Bay Realty developing 1st site in Nashville metro area. Shallow Bay Realty has received planning approvals for its 1st industrial development site, located at 1245-1401 East Division Street in Mount Juliet, Tennessee. The firm plans to develop a 182,600 SF multi-tenant industrial logistics facility on the 12 acre site. Arya Ghazizadeh leads the Shallow Bay Realty team.

FROM OUR PARTNERS

SMALL BAY PROPERTIES FOR SALE

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38,152 SF | 1.88 AC | 5 Buildings | 70% Leased | Existing Rents 15% Below Market | 16’ Ceiling Height | 25 Loading Docks | Direct Access to I-110, I-105, and I-405

30,240 SF | 1 AC | 3 Units | 6 Dock-High Doors | 20’ Clear Height | Seamless Access to Santa Fe Drive and I-25

8,360 SF Total | 2 Units | 17’ Ceiling Height | 4,040 SF Mezzanine | 2 Ground-Level Roll-up Doors | Desirable, Central Location

SMALL BAY PROPERTIES FOR LEASE

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3,939 SF | 1 Dock Door | 1 Drive-in Door | Open Space Ready for Immediate Occupancy | Ample Parking | Recent Improvements | Easy Access to New Circle Road, I-75, I-64, and Blue Grass Airport

2,174 SF | (2) 10’x12’ and (2) 8’x10’ Grade-Level Doors | 15.5’ Ceiling Height | Easy Access to Florida Turnpike and I-95 | Zoned Service Commercial

4,722 SF | 0.81 AC | 2 Drive-in Doors | 1 Dock Door | Light Industrial Zoning

ONE MORE THING

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