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Small Bay Daily - October 29 - Lee & Associates brokers small bay warehouse in Oakland, CA

Small Bay Daily - October 29 - Lee & Associates brokers small bay warehouse in Oakland, CA

L&A brokers California small bay. M&M brokers Florida small bay. Range Light buys Michigan facility. East Capital buys Florida small bay park. CBRE leases Florida small bay. GGP develops North Carolina industrial park. Six new small bay listings.

Katherine Peach
October 29, 2024

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NEWS ROUNDUP

ACQUISITION: L&A brokers small bay building in Oakland, CA. Lee & Associates has brokered the sale of 1747 14th Street in Oakland, California. The property features a 14,945 SF multi-tenant small bay industrial building. The L&A deal team of Ryan Davidson and Brian Barden represented both the buyer and the seller.

ACQUISITION: M&M brokers small bay property in Tampa area for $640K. The Patel Yozwiak Group of Marcus & Millichap has facilitated the sale of 1620 51st Street South in Gulfport, Florida. The property features a 10,979 SF building that is currently 100% occupied with all tenants on month-to-month leases at below-market rents. The M&M deal team included Darpan Patel, Dan Yozwiak, and James Defusto.

ACQUISITION: Range Light buys small and mid bay facility in Lansing, MI area. Range Light Investment Partners has acquired 3909 Holt Road in Holt, Michigan. The property features an 82,000 SF warehouse on 11.59 acres. Range Light is upgrading the facility to offer small and mid bay suites under 100,000 SF. Jenna Gauntner with CBRE; Bryan Falk and Jennie Church with Vorys, Sater, Seymour and Pease; Dave Mader with Chicago Title; and John Wilgus with First Financial Bank assisted with the transaction. Range Light is led by Pat Foran and Andy Hill.

East Capital buys Florida small bay park

ACQUISITION: East Capital Partners buys Miami, FL small bay for $48M. East Capital Partners has acquired Skylake Executive Industrial Park at 19501 Northeast 10th Avenue in North Miami Beach, Florida. The industrial park features a total of 210,219 SF. The East Capital deal team included Drew DeWitt and David Archibald. Eli Sasson Bril, Jose Sasson, and Roberto Susi with Axiom Capital facilitated the transaction. Mike Cleaver and Matt Fantuzzi of Emerald Creek Capital provided a $32.2M acquisition loan.

LEASE SIGNED: CBRE leases Tampa, FL small bay. CBRE has facilitated the lease renewal of 8709 Florida Mining Boulevard in Tampa, Florida. Peter Cecora and Olivia Brock with JLL and Alison Stajnrajh with Prologis assisted in the transaction. The CBRE deal team included Tom Quinlan, Kris Courier, Rian Smith, Josh Tarkow, Sarah Dieter, Courtney Vestal, Stephanie Meros, and Kyle Koller.

DEVELOPMENT: Greenberg Gibbons continues work on Charlotte, NC industrial park. Greenberg Gibbons Properties reports that Building 1 of its I-77 Commerce Center is now vertical. The 3-building project is located along Statesville Road in Charlotte, North Carolina, and will consist of 149,700 total SF. Building 1 is scheduled for delivery in January. Alek Salfia with CBRE is handling the leasing of the shallow bay facility. The GGP development team is led by Drew Thigpen.