Small Bay Daily - October 29 - Faropoint buys light-industrial portfolio in New Jersey for $44.3M

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NEWS ROUNDUP

ACQUISITION: Faropoint buys light-industrial portfolio in New Jersey for $44.3M. Faropoint has acquired 400 Gotham Parkway, 223 Veterans Boulevard, and 190 Jony Drive in Carlstadt, New Jersey. The portfolio features 3 buildings totaling 182,255 SF. The Faropoint deal team included Orry Michael and Matthew Bernstein. Brian Fiumara, Daniel Sarmiento, Charlotte Sands, and Elli Klapper with CBRE facilitated the transaction.

DISPOSITION: Lee & Associates sells small bay park in San Diego area for $16.125M. Lee & Associates has facilitated the off-market sale of La Mirada Business Park, located at 975 and 985 Poinsettia Avenue and 2835 La Mirada Drive in Vista, California. The property features 3 multi-tenant industrial buildings totaling 76,391 SF on 4.46 AC. Rusty Williams, Chris Roth, and Jake Rubendall with the Williams Roth Group at Lee & Associates represented the buyer, Gildred Cos., and co-represented the seller, Catesgarb Holdings, along with Jeff Bethel of Lee & Associates Industry.

DISPOSITION: Newmark sells flex-industrial portfolio in Atlanta for $14.25M. Newmark has facilitated the sale of Airport Commerce Park, located at 1720, 1740, and 1777 Phoenix Parkway in Atlanta, Georgia. The portfolio features 5 multi-tenant buildings totaling 116,000 SF. Casey Keitchen with Newmark represented the seller in the transaction.

LEASE SIGNED: Rich Young Co. leases small bay space in Dallas, TX. Rich Young Co. has facilitated the leasing of 17,340 SF of office and warehouse space at 151 Regal Row in Dallas, Texas. Trevor Hunt led the Rich Young Co. deal team in the transaction.

FINANCING: Cushman & Wakefield arrange $5.5M acquisition loan for NJ small bay portfolio. Cushman & Wakefield has closed a $5.5M acquisition loan for a small bay portfolio in Central New Jersey. The portfolio features 5 buildings totaling 46,000 SF in Middlesex and Dunellen. Eddie Miro, Joseph Sokolowski, and Brian Anderson led the CushWake deal team.

PEOPLE MOVES: Matthews hires Senior VP to focus on small and shallow bay sales. Matthews has welcomed Michael Tran to the role of Senior Vice President at its Dallas, Texas, office. In his new role, Michael will focus on the development, acquisition, and disposition of small bay and shallow bay properties. His previous roles include a tenure at Colliers.

SMALL BAY PROPERTIES FOR SALE

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24,000 SF | 16 Suites | 100% Occupied by 15 Tenants on NNN Leases with WALT of 15 Mos. | 7.03% in-Place Cap Rate with 10.06% Year-5 Pro Forma Cap Rate | Convenient Access to E Loop 820 S, I-20, I-30, and Broader DFW Metroplex

40,213 SF | 2.88 AC | 52 Units | Each Unit Equipped with Roll-up Bay Door, Separate Pedestrian Entrance, Private Restroom, and 3-Phase Power | Unit Sizes Range from 576-1,200 SF | Immediate Connectivity to Pacific Coast Highway | Asking Price: $7,250,000

21,972 SF | 3 Buildings | 7 Units | Grade-Level Overhead Doors | Concrete Parking and Drive Areas | 3,111 SF Available for Lease or Owner-User Occupancy | Staggered Lease Expirations

SMALL BAY PROPERTIES FOR LEASE

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2,100-2,125 SF | 3 Units Available | 10’x10’ Roll-up Doors | 12’ Clear Heights | 24-Hour Access | Direct Access to I-35E and Belt Line Road

1,600-2,400 SF | 3 Units Available | Major Renovations Ongoing | Significant Roof Replacement Since 2024 Hurricanes | Located Between FL-70 and US-301 | 10 Minutes from I-75

1,548-8,392 SF | 9 Spaces Available | Immediate Access to I-605 and I-5 | 15’ Clear Height | 1-2 Drive-in Doors | Power: 100A, 120/208V | Sprinklered | Skylights and LED Motion Sensor

ONE MORE THING

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