Small Bay Daily - October 21 - CBRE sells shallow bay park in Portland, OR for $22.3M

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NEWS ROUNDUP

DISPOSITION: CBRE sells shallow bay park in Portland, OR for $22.3M. CBRE has facilitated the sale of 13422-13444 and 13609-13625 Northeast Jarrett Street in Portland, Oregon. The property features 2 multi-tenant shallow bay buildings totaling 129,142 SF. Brett Hartzell, Charles Safley, Chris Reeves, and Eleanor Aschoff with CBRE represented the seller, Ostling Group, in the transaction.

ACQUISITION: Farpoint buys shallow bay facility on Long Island for $7.55M. Faropoint has acquired 593 Acorn Street in Deer Park, New York. The property features a 40,000 SF industrial building that is currently 100% leased to Apogee Lighting. Matthew Bernstein led the Faropoint deal team. Bob Desmond with Industry One Realty represented the seller.

ACQUISITION: Terreno buys small bay facility in San Francisco for $5.6M. Terreno Realty Corp. has acquired 250 South Maple Avenue in San Francisco, California. The property features a multi-tenant industrial building totaling 18,000 SF plus a 0.2 acre improved land parcel. Cody Saunders, Alex Brenner, and Matt Blais led the Terreno deal team.

ACQUISITION: Corepoint sells small bay park in Atlanta area for $4.8M. Corepoint Real Estate has facilitated the sale of Red Oak Business Park, located at 645-647 Red Oak Road in Stockbridge, Georgia. The property features several multi-tenant industrial buildings totaling 57,000 SF. Marc Smouha with Corepoint represented the buyer, Stoic Equity Partners, in the transaction. Jeremy Friedman and Grant Reaves led the Stoic deal team.

ACQUISITION: CenterSquare buys small bay portfolio in Houston. CenterSquare Investment Management has acquired 25275 Budde Road and 220 and 221 Barren Springs Drive in Houston, Texas. The portfolio features 4 multi-tenant buildings totaling 55 suites over 244,946 SF. Victoria Taylor Bocanegra and Robert Wasenius led the CenterSquare deal team. Michael Blount Jr. with Panoptic Realty Group represented the seller in the transaction.

LEASE SIGNED: Dalfen leases midbay building in Reno, NV metro area. Dalfen Industrial has leased out 350 Lillard Drive in Sparks, Nevada. The property features a 77,969 SF industrial building. Jeremy Hamaoui led the Dalfen deal team. Steve Kucera and Makenna Backstrom with Colliers facilitated 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

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9,007 SF | 0.38 AC | 2 Adjacent Warehouses | 100% Leased with Below-Market Rents | 3 Bays | 15’-16’ Clear Heights | Located Just off 112 Expressway | Close to Miami Intl. Airport, Hialeah, Allapattah, and Medley

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

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

SMALL BAY PROPERTIES FOR LEASE

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21,872-82,506 SF | 3 Units Available | Fully Renovated with New Solar-Ready TPO Roof, LED Lighting, and Updated Asphalt Parking Lot | Each Unit Has 2-4 Dock-High Doors and a Drive-in Ramp | 19’ Clear Height | 3-Phase Power

3,521 SF Available | 1 Dock Door | 14’ Clear Height | Minutes from I-355, I-8, and I-294 Interchanges

For Lease with an Option to Purchase | (5) 1,820 SF Units Available | Each Unit Has Overhead 10’x12’ Door, ADA Restroom with Shower, Loft Space, and Individual Utilities | Excellent Location Near I-5 | 3-Phase Power

ONE MORE THING

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