Small Bay Daily - November 19 - CBRE brokers sale of small bay portfolio in Minneapolis

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NEWS ROUNDUP

ACQUISITION: CBRE brokers sale of small bay portfolio in Minneapolis area. CBRE has facilitated the sale of a small bay portfolio in Eden Prairie, Minnesota. The portfolio includes 9 buildings for a total of 305,244 SF. The CBRE deal team included Bentley Smith, Judd Welliver, Michael Caprile, Ryan Bain, Zach Graham, Joe Horrigan, and Victoria Gomez. The properties in the portfolio are:

• 6820-6846 Washington Avenue

• 6925-6953 Washington Avenue

• 6955-6971 Washington Avenue

• 7242-7264 Washington Avenue

• 7202-7224 Washington Avenue

• 7340 Washington Avenue

• 7115-7149 Shady Oak Road

• 7157-7171 Shady Oak Road

• 7150-7154 Shady Oak Road

ACQUISITION: Birddog Ventures buys flex industrial property in McKinney, TX. Birddog Ventures has acquired a 94,000 SF value-add flex industrial property at 901 North McDonald Street in McKinney, Texas. The seller was Altus Equity. The Birddog deal team included Brandon Schubert, Josh Oerke, and Jon DuCharme. Rich Young, Garrett Goldstein, and David Rodin with Rich Young Co. brokered the transaction. Brian Gramlich with Terrydale Capital, Bobby Geary with ArrowMark Partners, and Dan Ertz with ACCESSbank also assisted in the deal.

ACQUISITION: CenterSquare buys industrial park in Indianapolis, IN. CenterSquare Investment Management has acquired Jackson Industrial Park, located at 8400-8440, 8520-8630, and 8716-8768 East 33rd Street and 3316-3346 North Pagosa Court in Indianapolis, Indiana. The 4-building portfolio totals 260,400 SF. A Colliers deal team led by Alex Cantu, Alex Davenport, and Lilly Schwier represented the sellers, Brennan Investment Group and Farallon Capital Management. The CenterSquare deal team was led by Robert Wasenius.

ACQUISITION: Stoic buys shallow bay park in Northwest Arkansas. Stoic Equity Partners has acquired 444 Old Wire Road in Springdale, Arkansas. The property includes 9 buildings for a total of 94,589 SF. Northmarq Fund Management provided structured equity for the transaction. The Stoic deal team was led by Grant Reaves and Jeremy Friedman. The Northmarq deal team included David Tindall and Peter Sherman.

DISPOSITION: C&W sells small bay asset in Harrisburg, PA. Cushman & Wakefield has brokered the sale of 6951 Allentown Boulevard in Harrisburg, Pennsylvania. The multi-tenant facility totals 81,600 SF. The buyer was Lightstone. A C&W team that included Brendan McGeary, Gerry Blinebury, and Drew Schantz represented the seller, First Industrial Realty Trust.

PEOPLE MOVES: Arden Logistics hires new Managing Director of Acquisitions. Arden Logistics Parks, Arden Group’s RE operating platform focusing on light industrial parks, has named Charlie McCombs as its new Managing Director of Acquisitions. McCombs previously served as Senior Director of Investments for Affinius Capital.

SMALL BAY’S COUSIN: IOS

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SMALL BAY PROPERTIES FOR SALE

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123,514 SF | 7 Buildings | 100% Leased | 3.5 Years of WALT | 55 Grade-Level Doors 16 Dock-High Doors | 18’-25’ Clear Heights | 2021 Construction

12,083 SF | 1.44 AC | 100% Leased | 6.35% Cap Rate

16,200 SF | 0.37 AC | 6 Drive-in Doors | Major Renovations in 2021

SMALL BAY PROPERTIES FOR LEASE

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1,200 SF Available | 16’-18’ Insulated Ceiling with Sky Lights | (1) 12’x14’ Grade-Level Door | Includes Water and Sewer | Small Office and Restroom

2,500-7,500 SF | 3 Spaces Available | 19’ Ceiling Height | (1) 8’x8’ Grade-Level Door | (1) 8’x'8’ Dock-High Door

900-4,200 SF | 6 Spaces Available | 12’-15’ Clear Heights | (1) 10’x12’ Grade-Level Roll-up Door | Recently Remodeled

ONE MORE THING

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