Small Bay Daily - September 17 - Harbor Capital buys small bay portfolio in DFW area

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NEWS ROUNDUP

ACQUISITION: Harbor Capital buys small bay portfolio in DFW area. Harbor Capital has acquired Corbin Industrial Park, located at 5000 Shelby Lane in Denton, Texas. The property is a 20-building facility comprising 606,911 SF. The seller was Mar-Properties. Argentic Investment Management provided a $38.7 million loan for the acquisition, while Michael Lohan and Luke Burns with Nineteen Blocks was the equity placement partner and Chris McColpin of Newmark Capital Markets sourced the debt. Frazier Commercial RE’s Don and Cole Frazier brokered the sale and is handling leasing, while TIG RE Services is handling property management. A KSR team of Steven Pollan, Joseph Kassin, Joseph Ash, and Morris Sutton sourced the deal for Harbor Capital.

ACQUISITION: TruCore buys mid bay in Birmingham, AL. TruCore Investments has acquired 3230 Messer Airport Highway in Birmingham, Alabama. The 4.36 acre property features a 96,000 SF Class B industrial facility. About 60,000 SF is currently vacant. TruCore intends to improve the facility and market it to potential tenants. The TruCore deal team was led by Zach Harris and Hunt Rose. The deal was executed with brokerage assistance from Jake Bottcher, Sonny Potter, and Edwin Moss at JH Berry along with Chip Watts at Watts Realty.

ACQUISITION: Rectangle buys small bay in Phoenix, AZ. Rectangle Investment Management, an affiliate of Comunale Properties, has acquired 20 South 69th Avenue in Phoenix, Arizona. The property features a small bay facility totaling 39,588 SF and is fully leased to Action Gypsum Supply. The Rectangle deal team included John Comunale and Matt Dodge. Cushman & Wakefield’s Phil Haenel, Foster Bundy, and Katie Repine represented the seller.

DEVELOPMENT: LaPour develops shallow bay facility in Denver metro area. LaPour and Mar-Gulf Management are developing Creekside Centennial Tech Center, a multi-tenant shallow bay facility located at 6403 South Uvalda Street in Centennial, Colorado. The facility, which is expected to be completed in the first quarter of 2025, features 63,271 SF of Class A industrial space. The Stream Realty team of Peter Beugg, Dominic DiOrio, Tyler Reed, and Buzz Miller is handling the leasing. The LaPour team includes Lisa Chasteen and Karina Salazar.

LEASE SIGNED: VIVO RE Group leases shallow bay in West Palm Beach, FL. VIVO RE Group has brokered the lease of 28,000 SF at 377 North Cleary Road in West Palm Beach, Florida. The VIVO deal team included Brandon Careaga and Frank Trelles.

READ: The appeal of industrial small bay. This informative article was penned by our friend Frank Forte of Lucern Capital Partners.

SMALL BAY PROPERTIES FOR SALE

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819,588 SF | 57.1 AC | 25 Buildings | 93.5% Occupancy | 24’ Clear Height

15,450 SF | 1.31 AC | 13 Bays With Grade-Level Doors | 14’-16’ Clear Heights

46,743 SF | 7.2 AC | 17 Dock-High Doors | 95% Leased

SMALL BAY PROPERTIES FOR LEASE

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30,918 SF | 1 Unit Available | 4 Loading Docks | 16’-18’ Clear Height

6,000 SF | 2,100 SF Bonus Mezzanine | Fenced Yard | Excellent I-10 Access

3,655 SF | 8’x8’ Loading Dock | 16’ Ceiling Height | 6 Offices and 2 Restrooms

ONE MORE THING

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