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Small Bay Daily - October 15 - Newmark sells shallow bay asset in Phoenix for $31M

Small Bay Daily - October 15 - Newmark sells shallow bay asset in Phoenix for $31M

Newmark sells Phoenix shallow bay. Graystone sells PA portfolio. Avistone buys TX shallow bay park. Spaulding & Slye buys Charlotte shallow bay. Stream sells CA small bay. Industrial Advisors leases FL small bay. Six new small bay deals.

Matt H
October 15, 2026

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NEWS ROUNDUP

DISPOSITION: Newmark sells shallow bay asset in Phoenix for $31M. Newmark has facilitated the sale of 3137 East Elwood Street in Phoenix, Arizona. The property features a 123,032 SF multi-tenant industrial building. The buyer was Sierra Ridge Capital, led by Nick Angelich and Daniel Palmieri. Gary Cornish and Nico Burgarello represented the seller in the transaction.

DISPOSITION: Graystone sells small bay portfolio in Central PA for $4.2M. Graystone Capital Advisors has facilitated the sale of 243 and 244 Grey Fox Drive in Montoursville, Pennsylvania. The portfolio features 2 fully leased multi-tenant buildings totaling 36,062 SF. Steve Garthwaite, Kevin Boeve, and Richard Bird with Graystone represented the seller in the transaction.

ACQUISITION: Avistone buys shallow bay park in Dallas-Fort Worth metro area. Avistone has acquired Renaissance Tech Centre, located in Richardson, Texas. The property features 81,805 SF of multi-tenant industrial space. Brett McPherson and Daniel Culler led the Avistone deal team. Pauli Kerr with JLL facilitated the transaction. Wells Waller and Jack Britton, also with JLL, assisted with the financing.

Spaulding & Slye buys Charlotee shallow bay

ACQUISITION: Spaulding & Slye buys shallow bay asset in Charlotte metro area. Spaulding & Slye Investments has acquired 408 Brook Street in Belmont, North Carolina. The property features a 54,600 SF shallow bay industrial building that is currently 100% leased to Lynddahl Telecom America Inc. Amar Goli, Nolan Dunn, and Christina Pecoraro with Northmarq represented the seller in the transaction. Hal Kempson and Jon Goldstein with Avison Young represented Spaulding & Slye.

ACQUISITION: Stream Realty Partners brokers sale of small bay park in Banning, CA. Stream Realty Partners has facilitated the sale of 900 John Street in Banning, California. The property features a 55,800 SF multi-tenant industrial park on 4.36 AC. Jackson Kennedy, Stefan Pastor, and Brad Yates with Stream represented the buyer in the off-market transaction.

LEASE SIGNED: Industrial Advisors leases small bay space in Miami area. Industrial Advisors has facilitated the leasing of 4,600 SF at 4715 Northwest 157th Street in Miami Gardens in a transaction valued at $500,000. Gerry Sossa with Industrial Advisors represented the tenant in the transaction.