Small Bay Daily - October 28 - Plymouth Industrial REIT to be acquired by JV for $2.1B

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NEWS ROUNDUP

ACQUISITION: Makarora/Ares JV to buy Plymouth Industrial REIT for $2.1B. A joint venture between Makarora and Ares Management has agreed to acquire Plymouth Industrial REIT in an all-cash deal worth $22 per share. As of June 30, 2025, the REIT wholly owned 148 industrial properties totaling roughly 32.1 MSF. (Our friend Lee Sager has written an excellent breakdown of the deal that you can read here.)

DISPOSITION: JLL sells Phoenix area small bay warehouse for $3.58M. JLL has facilitated the sale of 2020 West Guadalupe Road in Gilbert, Arizona. The property features a 13,547 SF industrial building. The seller was ViaWest Group, led by Alexander Hondros. Steve Larsen and Jason Moore with JLL represented ViaWest in the transaction. Conner Lee with Lee & Associates Arizona represented the buyer, BAM Elite LLC.

ACQUISITION: Thematic Capital Group & Dray Investments buy DFW portfolio. Thematic Capital Group and Dray Investments have acquired a portfolio of 3 industrial parks in Grand Prairie, Texas. The portfolio features 16 buildings for a total of 255,690 SF. Jeff Jackson with NAI Robert Lynn, along with David Annett and Joe Habighorst with Northmarq, represented the buyers. Bernard Clevens and Benji Howard led the Thematic deal team. The properties in the portfolio are:

• Corporate Business Center — 2100 South Great Southwest Parkway

• Aero Business Center — 2601 Aero Drive

• Lone Star Business Park — 605 East Palace Parkway

DISPOSITION: Cushman & Wakefield sells shallow bay park in Tampa. Cushman & Wakefield has facilitated the sale of Crossroads Logistics Park, located at 5221 Crossroads Park Drive in Tampa, Florida. The property features a 58,849 SF multi-tenant industrial infill building. The CushWake deal team included Rick Brugge, Mike Davis, Dominic Montazemi, Gina Allegrini, John Jackson, JT Faircloth, and Casey Perry.

LEASE SIGNED: ComReal leases small bay warehouse in Miami metro area. ComReal has facilitated the leasing of 4,600 SF at 2540 West 84th Street in Hialeah, Florida. Tania Lizette Hernandez led the ComReal | Miami-Doral deal team.

READ: Ware CRE’s guide to all things small bay industrial.

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

49,845 SF | 2.6 AC | 10 Units | Below-Market Rents | 8.53% Year-5 Pro-forma Cap Rate | WALT Less Than 2.5 Years | Prominently Positioned at the Intersection of I-35N and Loop 410 | Close to Downtown San Antonio

16,000 SF | 1.49 AC | Fully Leased to 4 Tenants | 16’ Clear Height | (4) 10’x12’ Drive-in Doors | Close to US-41, US-301, and I-75

SMALL BAY PROPERTIES FOR LEASE

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750-10,400 SF Available | 12’x14’ Grade-Level Doors | 18’ Ceiling Height | On-site Property Management and a Park-Like Feel | Conveniently Located

4,740-11,000 SF Available | 9’-12’ Ceiling Heights | Warehouse-Only Bays Available | Dock and Drive-in Access | Some Outdoor Storage Allowed

23,360 SF Total Building (8,360 SF and 15,000 SF Divisible Options) | 12’-15’ Clear Heights | Dock and Drive-in Loading | Heavy Power | 22 Parking Spaces

ONE MORE THING

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