Small Bay Daily - November 13 - Marcus Partners buys light industrial portfolio in Boston metro area for $40.5M

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NEWS ROUNDUP

ACQUISITION: Marcus Partners buys light industrial portfolio in Boston metro area for $40.5M. Marcus Partners has acquired a 5-asset multi-tenant industrial portfolio totaling 307,053 SF in a partnership with Rhino Capital. With this acquisition, Marcus has now acquired more than 2.2 MSF of industrial space in the last 12 months. Chris Legocki led the Marcus Partners deal team. The properties in the portfolio are:

• 10 Elizabeth Drive in Chelmsford, Massachusetts

• 16 Progress Drive in Chelmsford

• 27 Industrial Avenue in Chelmsford

• 187 Billerica Road in Chelmsford

• 118 Mystic Avenue in Medford, Massachusetts

ACQUISITION: Cove Capital buys small bay asset in DFW metro area. Cove Capital Investments has acquired 2330 and 2268 Seaborn Road in Ponder, Texas. The property features 19 small bay industrial buildings totaling 115,650 rentable SF. As with all of Cove Capital’s acquisitions, the asset is debt-free. The acquisition also completes the formation of Cove Capital’s $18.7M Reg D, Rule 506(c) offering, Cove Ponder Small Bay Industrial 101 DST. Dwight Kay and Chay Lapin led the Cove Capital deal team in the transaction.

ACQUISITION: Wharton Industrial buys small bay portfolio in Philadelphia area. In a partnership with Tramview Capital Management, Wharton Industrial (an affiliate of Wharton Equity Partners) has acquired 15 and 35 East Uwchlan Avenue in Exton, Pennsylvania. The portfolio features 2 multi-tenant industrial buildings totaling 91,380 SF. Nick Aileo led the Wharton deal team. Adam Gillespie and Ben Fabiszewski with Avison Young facilitated the sale. Michael Klein, Steve Klein, and Ryan Carroll with JLL arranged the financing. Kevin Flynn Jr. and Andy Pancoast with The Flynn Co. will market the properties for lease.

DISPOSITION: Colliers sells small bay industrial portfolio in Orlando, FL. Colliers has facilitated the sale of 3712-3728 Vineland Road and 3506 St. Valentine Way in Orlando, Florida. The portfolio features 2 small bay industrial assets totaling 65,185 SF. The buyer was CenterSquare Investment Management, led by Brian Stutz. Joe Rossi with Colliers represented the seller, Helanco Properties, in the transaction.

LEASE SIGNED: Kidder Mathews leases small bay space in Seattle metro area. Kidder Mathews has facilitated the leasing of 15,046 SF of industrial space at 3411 90th Street South in Lakewood, Washington. Matt McLennan and Laura Fox with Kidder Mathews represented the landlord in the transaction.

READ: How small bay industrial spells big opportunity for investors.

FROM OUR PARTNERS

As experienced industrial operators, we understand the unique dynamics of Small Bay assets. Our high leverage lending solutions are designed for Industrial, providing the flexibility investors and operators need to execute on their business plan.

SMALL BAY PROPERTIES FOR SALE

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12,520 SF | 0.53 AC | 3 Buildings | 32 Units Ranging from 315-945 SF | Each Unit Has 10’x10’ Roll-up Door and 13’ Ceilings | Short-Term Leases | Flexible Unit Configuration | Minutes from I-95 and Powerline Road

36,062 SF | 2.12 AC | 2 Buildings | 9 Units | 94% Occupancy | Average Unit Space Is 4,000 SF | 20’ Ceiling Height | Easy Access to I-180/US-220

38,359 SF | 0.88 AC | 2 Buildings | 13 Units | 100% Leases on Month-to-Month | 12’ Clear Height | 200A/120/240V Single- and 3-Phase Power | (13) 10’x10’ Door and (1) 12’x10’ Door | Close to I-10, AZ-143, Sky Harbor Airport, and ASU

SMALL BAY PROPERTIES FOR LEASE

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1,155-2,310 SF | 3 Units Available | 16’ Ceiling Height in Warehouses | 14’ Overhead Doors | Air-Conditioned Offices and Restrooms | Easy Access to I-75

4,586-8,731 SF | 10 Units Available | Office Space to Suit | 28’ Ceilings | Dock-High Loading with Levelers | Located Right off Routes 33, 18, and 19

1,362-3,000 SF | 7 Units Available | Clear Height up to 16’ | 3-Phase Power | Drive-in Loading | Excellent Access to South Denver Metro

ONE MORE THING

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