Small Bay Daily - November 6 - Newmark sells Philadelphia area small bay portfolio for $22M

Good morning. This is Small Bay List, and we just have more fun.

→ We are here to serve the owners, brokers, and tenants who are interested in small bay, shallow bay, and mid bay industrial. Do us a favor and forward this email to your favorite industrial pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DISPOSITION: Newmark sells Philadelphia area small bay portfolio for $22M. Newmark has facilitated the sale of 398-426, 401, 413-419, 430-444, and 441 Industrial Drive; 504-510 Louise Lane; and 513 Dickerson Road in North Wales, Pennsylvania. The portfolio features 7 buildings totaling 124,879 SF. The buyer was NorthBridge Partners. Ryan Guittare with Newmark represented the seller, Velocity Ventures Partners, in the transaction. The Velocity Ventures deal team included Zach Moore and Tony Grelli.

DISPOSITION: KBC Advisors sells shallow bay business park in Houston. KBC Advisors has facilitated the sale of 8300 West Little York Road and 6817 Flintlock Road in Houston, Texas. The portfolio features 2 multi-tenant shallow bay buildings totaling 21,600 SF. Jim Autenreith and Tanner Thompson with KBC Advisors represented the buyer in the transaction. Preston Yaggi, Jeff Kuper, and Tanner KinCannon with Lee & Associates Houston represented the seller. 

DISPOSITION: CBRE sells Twin Cities area small bay portfolio. CBRE National Partners North Central has facilitated the sale of Park Industrial Village, a small bay industrial portfolio located at 13125, 13205, and 13225 Industrial Park Boulevard and 2000, 2010, 2050, and 2067 East Center Circle in Plymouth, Minnesota. The portfolio consists of 7 multi-tenant buildings totaling 232,680 SF. The CBRE deal team included Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan, and Michael Caprile.

ACQUISITION: GSC and White River buy small bay asset in Dallas metro area. A partnership between GSC Investments and White River Partners has acquired 1704 West FM 875 in Midlothian, Texas. The property features 2 multi-tenant buildings totaling 42,000 SF. Tyler Stone and Jonathan Bond led the GSC Investments deal team. The White River Partners team was led by Jeff Paschal.

LEASE SIGNED: Pinnacle leases 2 small bay facilities in Denver metro area. Joe Owston with Pinnacle Realty Partners has facilitated 2 small bay industrial leases in the Denver metro:

• 1201 West Lehigh Place in Englewood, Colorado — 2,400 SF (landlord representation)

• 3200 West 71st Avenue in Westminster, Colorado — 3,500 SF (tenant representation)

FINANCING: Marcus & Millichap closes $6M refi for Phoenix small bay park. Marcus & Millichap has successfully closed a refinance loan for Arrowhead Ranch Business Park, located at 21461-21509 North 78th Avenue in Peoria, Arizona. Phillip Gause with Marcus & Millichap represented the private client sponsor in the transaction.

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

Click on each photo for more information.

102,429 SF | 3 Buildings with Suites Ranging from 1,000-10,000 SF | Priced Significantly Below Replacement Cost | Strong Mark-to-Market Opportunity | Recently Renovated | Close to New Orleans MSA

154,610 SF | 12.32 AC | 8 Buildings | 33 Units | 97.56% Occupancy | Mark-to-Market Short-Term Leases | Mix of Single-Tenant Net Lease and Multi-Tenant Buildings | Immediate Access to I-74, I-474, and US-150/US-24 Interchange

51,589 SF (49,813 SF USF) | Occupied Space: 32,205 SF (3.3 Years Remaining on Lease) | Vacant Space: 19,384 SF for Additional Income with 14,400 SF Second-Story Concrete Mezzanine | 13.5’-24’ Clear Heights | 4 Docks (3 with Levelers) | 1 16’x14’ Drive-in Door | Power: 400A 277/480V Stepped Down to 200A 120/208V | Close to I-465, I-70, Indianapolis Intl. Airport, and Downtown Indianapolis

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

24,664 SF | Private Offices, 3 Restrooms, and Break Room | 5 Dock-High Doors | 3 Grade-Level Doors | 3-Phase Power: 240V 400 Amps | 16’-19’ Clear Heights | Close to I-35W, I-20, and I-30

5,000-40,000 SF Available | Building A: 15,000 SF; Building B: 10,000 SF | 1 Dock | 13 Roll-up Doors | Close to US-41 and Venice Municipal Airport

2,400-24,000 SF | 12'x14' Grade-Level Doors | 3-Phase Power | 24' Clear Height | Great Access to US-290 and Beltway 8

ONE MORE THING

Want our memes in your inbox each morning? Meet Chad.

→Try our resources for small bay pros:

Search Properties (beta) | Small Bay News | Comps | Professional Network

Advertise Listings | Share a Closing Announcement