Small Bay Daily - May 6 - BKM and Kayne Anderson form $1.5B JV targeting small bay industrial

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NEWS ROUNDUP

JOINT VENTURE: BKM and Kayne Anderson form $1.5B JV. BKM Capital Partners and Kayne Anderson Real Estate have joined forces, forming a joint venture (JV) to acquire small and mid bay industrial properties. Already, the $1.5B JV has acquired 5 small bay properties totaling 1.2M SF, as well as closing on a $550M recap of a 9-property portfolio. The BKM team is led by Brian Malliet. Albert Rabil heads the Kayne Anderson leadership team.

DISPOSITION: Colliers sells shallow bay in Seattle metro area for $8.27M. Colliers has facilitated the sale of 815 Sievers Duecy Boulevard in Everett, Washington. The property features a 26,666 SF building with 24,070 SF of warehouse space and 2,596 SF of office space. Derek Heed and Talor Okada with Colliers represented the seller, Underwood Gartland Development 64 LLC, in the transaction. Patrick Mullin and Scott Alan with Cushman & Wakefield represented the buyer.

ACQUISITION: Entre Commercial brokers sale of small bay in Chicagoland. Entre Commercial has facilitated the sale of 725 North Central Avenue in Wood Dale, Illinois. The property features an 18,190 SF multi-tenant industrial building on 0.87 acres. Brad Bullington with Entre represented the buyer, and Bryan Sonn with GC Realty represented the seller in the deal.

LEASE SIGNED: Bradford leases small bay space in Dallas-Fort Worth area. Bradford Commercial Real Estate Services has facilitated the leasing of 10,146 SF at 1517 West Carrier Parkway in Grand Prairie, Texas. Jim Ferris with Bradford represented the tenant, One World Energy LLC. Madeline Coffman and Walker Floyd with Holt Lunsford Commercial represented the landlord in the transaction.

FINANCING: B&D Holdings recaps IOS/shallow bay portfolio in VA and FL. B&D Holdings has recapitalized a portfolio of 7 shallow bay and industrial outdoor storage (IOS) properties in Virginia and Florida. Combined, the properties total 580,000 SF. The B&D team is led by Martin Segal and Robert Logan. (If you’re interested in IOS properties, check out our sister publication IOS List.)

READ: How the rise of US manufacturing is reshaping small bay industrial.

SMALL BAY PROPERTIES FOR SALE

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39,070 SF | 2.95 AC | 100% Occupied by 7 Tenants | 16’ Clear Height | 5 Dock-High Doors and 1 Dock with Ramp | Within 1.5 Miles of I-35E, TX-183, TX-114, and Loop 12 | 7.11% Cap Rate with WALT of 4+ Years | New TPO Roof

8,250 SF | 5.37 AC | 2 Leased Buildings with New Roofs | Tenant Now in 2nd Year of 10-Year Lease | 2 On-site Sheds for Potential Additional Rental Income | Easy Access to KS-7 and Shawnee Mission Parkway

4,300 SF (2,050 SF Warehouse, 1,910 SF Office, and 340 SF Canopy) | 0.41 AC | 12.5’ Clear Height | (3) 12’x12’ Roll-up Doors | Less Than 1 Minute from US-19 | Situated in Opportunity Zone | Light Industrial Zoning

SMALL BAY PROPERTIES FOR LEASE

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15,900 SF | Mix of Warehousing, Office, and Showroom Space | 4 Grade-Level Doors and 1 Dock-Level Loading Door | Quick Access to Dixie Highway and I-95

For Sublease | 2,500-20,000 SF | Prime Location Near Ohio River | Versatile and Customizable Space | Visible from I-77

For Sublease | 2,500 SF | Unit A Has Industrial Space, Office, and Restroom | Unit B Has Industrial Space, Office, and Mezzanine | Each Unit Has 1 Overhead Door and 1 Man Door | Close to Bend Parkway and Empire Avenue

ONE MORE THING

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