Small Bay Daily - September 18 - BKM buys Phoenix small bay portfolio for $167.9M

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ACQUISITION: BKM buys Phoenix small bay portfolio for $167.9M. BKM Capital Partners, in a joint venture with Kayne Anderson Real Estate, has acquired an 889,352 SF portfolio of 8 multi-tenant small bay industrial real estate assets in the Phoenix metro area. Brett Turner and Michael Grossner led the BKM deal team. Rusty Kennedy, Joe Cesta, and Darla Longo with CBRE represented the seller, an affiliate of Equus Capital Partners Ltd., in the transaction. The properties are:

• Elwood Industrial Center, 4202 East Elwood Street in Phoenix — 4 buildings, 133,076 SF

• Roeser Commerce Center, 3702 East Roeser Road in Phoenix — 2 buildings, 59,620 SF

• Buttes Business Center, 2105-2231 South 48th Street in Tempe — 13 buildings, 188,282 SF

• Tempe Commerce Center, 6100 South Maple Avenue, 124-125 and 136 West Orion Street, and 6105 and 6125 South Ash Avenue in Tempe — 8 buildings, 177,354 SF

• Priest-Excel Business Park, 1302 West 23rd Street and 2121-2127 South Priest Drive in Tempe — 5 buildings, 155,094 SF

• Expressway Corporate Center, 3015, 3101-3131 South Park Drive, 2315 West Fairmont Drive, and 3110 and 3120 South Potter Drive in Tempe — 6 buildings, 79,333 SF

• Mineral Road Industrial Center, 6900 South Priest Drive and 1520 West Mineral Road in Tempe — 2 buildings, 68,693 SF

• Harl Industrial Park, 7425 South Harl Avenue in Tempe — 1 building, 27,900 SF

ACQUISITION: Accordia buys midbay in North Charleston, SC for $48.05M. Accordia has acquired Remount Business Park, located at 1101 and 1141 Remount Road in North Charleston, South Carolina. The property features 2 multi-tenant industrial dual-flex industrial buildings totaling 305,114 SF on 25.88 acres. The acquisition is the largest in Accordia’s 20-year history. The seller was Accesso Partners. The Accordia deal team included Benjamin Morgenthal, Jason Bogart, and Frank Recine. Patrick Gildea, Matt Smith, and Rob Hardaway with CBRE facilitated the transaction.

DISPOSITION: Newmark sells industrial building in Atlanta metro for $3.55M. Newmark has facilitated the sale of 4445 Winfred Drive in Marietta, Georgia. The property features a 15,251 SF industrial building on 3.02 acres. At $236/SF, the sale price broke the record for a non-IOS asset in Cobb County. Blake Maum, RJ Zurak, Collin BeVier, Stewart Thrash, and Brad Kirschner with Newmark represented the seller in the transaction. CT Voyles with Meadows & Ohly represented the buyer. (Curious about IOS? Check out our sister publication IOS List.)

DISPOSITION: Lee & Associates sells small bay facility in LA metro area. Lee & Associates has facilitated the sale of 1502-1536 Industrial Park Street in Covina, California. The property features a 39,700 SF multi-tenant industrial building. The Lee & Associates deal team was led by Jeff Bethel and Bob Drown.

ACQUISITION: Foundry Commercial brokers sale of small bay in Charlotte area. Foundry Commercial has facilitated the sale of 105 Corporate Boulevard in Indian Trail, North Carolina. The property features a 9,143 SF industrial building with 2 units. Benjamin Rowell and Casey Mulhern with Foundry Commercial represented the buyer in the transaction.

LEASE SIGNED: CBRE leases flex industrial space in Madison, WI metro area. CBRE has facilitated the leasing of 20,050 SF of flex industrial space at 2224 Pleasant View Road in Middleton, Wisconsin. Chase Brieman and James West with CBRE represented the tenant, a Fortune 500 company. Paul Molinaro with Welton Enterprises represented the landlord.

SMALL BAY PROPERTIES FOR SALE

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For Sale and Lease | 16,000 SF | 1.49 AC | (4) 4,000 SF Suites | 1 Suite Available to Lease or Occupy as Owner-Occupant | Each Unit Has 1 Drive-in Door, 16’ Clear Height, and Finished Offices | Building Constructed in 2021 | 5 Minutes to I-75, 10 Minutes to Downtown Tampa | Located on the Causeway

36,062 SF | 2.12 AC | 2 Buildings | 9 Units | 94% Occupancy | Average Unit Space Is 4,000 SF | 20’ Ceiling Height | Easy Access to I-180/US-220

39,731 SF | 3.98 AC | 22 Tenants with an Average Suite Size of ± 1,727 SF | Recent Extensive Capital Improvements Including Paint, Lighting, AC, Interior Renovation, and Roof | Additional Stabilization Improvements Including Professional Management Team and BOMA Survey | Close to I-80, Reno-Tahoe Intl. Airport, and Tahoe-Reno Industrial Center

SMALL BAY PROPERTIES FOR LEASE

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8,393 SF Available | 14’ Clear Height | Twin T Construction | 10% Office | 1 Oversized Grade-Level Door | Office and Restroom

54,085 SF | 2.2 AC | 4 Buildings | 16’-20’ Ceiling Heights | Cosmetic Improvements in Progress | Grade-Level Loading with Common Truck Well | Mezzanine Storage

2,500-9,750 SF | Grade-Level Loading | 17’ Ceiling Height | Finished Open Reception/Office Area with ADA Restroom | Convenient Access to I-9, Downtown Spokane, and Spokane Intl. Airport

ONE MORE THING

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