Small Bay Daily - May 5 - Digby Commercial Advisors sells Denver-area small bay portfolio for $5.4M

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

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NEWS ROUNDUP

DISPOSITION: Digby Commercial Advisors sells Denver-area small bay portfolio for $5.4M. Digby Commercial Advisors has facilitated the sale of a portfolio of small bay industrial buildings located at West 55th Avenue and Harlan Street in Arvada, Colorado. The portfolio features 6 multi-tenant buildings totaling 33,098 SF. Tanner Digby with Digby Commercial Advisors represented the seller in the transaction.

ACQUISITION: Corepoint brokers $2.1M sale of small bay facility in Greensboro, NC. Corepoint Real Estate has facilitated the sale of 510 Corliss Street in Greensboro, North Carolina. The property features a 24,400 SF industrial facility. The buyer was Clock Tower Industrial, led by Alec Ludwig. Marc Smouha and David Salameh led the Corepoint team in the off-market transaction.

LEASES SIGNED: Bussel Realty Corp. leases small bay spaces in Garwood, NJ. Bussel Realty Corp. (BRC) has facilitated 4 leasing transactions at Garwood Commerce Center, located on South Avenue in Garwood, New Jersey. The 4 lease transactions total 41,800 SF. Jeffrey Goldfinger with BRC represented the landlord, ACP Partnership. The leases include:

• 502 South Avenue — 20,350 SF leased to Speedfast LLC

• 512 South Avenue — 8,000 SF leased to Sundaddy LLC

• 536 South Avenue — 10,150 SF leased to Just Logistics Group Inc.

• 626 South Avenue — 3,300 SF leased to OM Creation

FINANCING: Newmark arranges acquisition financing for Bay Area shallow bay. Newmark has arranged financing for the acquisition of a 241,213 SF shallow bay industrial portfolio in Livermore, California. The Newmark deal team included Chris Moritz, Ramsey Daya, Grant Gooding, and Adele Benson.

FUNDING: Cove Capital fully subscribes debt-free small bay offering in DFW. Cove Capital Investments has fully subscribed its Cove Ponder Small Bay Industrial 101 DST after raising nearly $19M in equity. The property features a 19-building small bay industrial park in Ponder, Texas, that is currently 100% occupied. The Cove Capital deal team included Dwight Kay and Chay Lapin.

READ: Small bay industrial is still hot, but investor demand is squeezing margins. “The days of buying a property, sitting back, and watching it appreciate are over,” said Lucern Capital Partners’ Frank Forte. “Returns today come down to how well you operate the asset once you own it, not how good a deal you were able to negotiated after you walked in the door.

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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

Plans in Place for 48,000 SF Facility with 48 Units Across 4 Buildings | 6.03 AC | Shovel-Ready Project Includes All Entitlements, Completed Engineering, and Architectural Plans for Immediate Construction Start | Each Building Will Feature Secure Access, Insulated Construction, and Flexible Unit Configurations | Direct Access to KS-7 and Minutes to I-435/I-35 Interchange | Easy Connection to Kansas City Intl. Airport

For Sale and Lease | 10.4 AC | Fully Approved for 6 Buildings Totaling 86,550 SF at $30/SF | Seller Financing Available | Close to I-195, NJ Turnpike, US-9, and Garden State Parkway | Email for Details

SMALL BAY PROPERTIES FOR LEASE

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30,640 SF Available | 100% HVAC | Warehouse with 3 Loading Docks | ±700 SF Office Space with 2 Offices and 2 Restrooms | 16’ Clear Height | Onsite Property Management | Heavy 3-Phase Power | Brand-New Roof and Exterior LED Lighting | Close to I-30, I-35, I-20, Loop 820, and Chisholm Trail Parkway

15,300 SF | 1.25 AC | 2 Drive-in Doors | 1,295 SF Office | 20’ Clear Height | Fenced and Gated Outside Storage Yard | Located in Established Business Park | Direct Access to S Loop 4 and Quick Access to IH-35

1,700 SF Available | Gated and Secured Entrance | Centrally Located Adjacent to Hwy 58 and Close to Hwy 99 | Newly Installed LED Lights | 200 Amp, 4-Phase, 120/208 Volt Power | New Paint | Flexible Term | Suites Individually Metered

ONE MORE THING

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