Small Bay Daily - September 22 - Leon Financial closes $11,790,000 construction loan for SC shallow bay

Good morning. Welcome to Small Bay List!

Today’s issue is sponsored by IndustrialIQ — providing comprehensive analysis and insights for small bay warehouse markets.

Now, let’s get to it!

NEWS ROUNDUP

FINANCING: Leon Financial closes $11,790,000 construction loan for SC shallow bay. Leon Financial has arranged a $11,790,000 senior construction loan for Spartan Point, a shallow bay project in Spartanburg, South Carolina. The property is being developed by Michael Schor and Daniel Schor of Treeline and will feature a 90,000 SF building. Fernando Mendez led the Leon Financial deal team.

 DISPOSITION: Marcus & Millichap sells Chicagoland small bay asset for $3.47M. Marcus & Millichap has facilitated the sale of 28101 Ballard Drive in Lake Forest, Illinois. The property features a 6-unit industrial property totaling 32,003 SF. Alexander Zlotnik, Tyler Sharp, and Adam Abushagur with Marcus & Millichap’s TAG Industrial team represented the seller in the transaction. Hubert Cioromski and Stephen Cioromski with Troy Realty represented the buyer, R&R Developers.

DISPOSITION: Newmark sells shallow bay park in Dallas-Fort Worth Metroplex. Newmark has facilitated the sale of a shallow bay park in Arlington, Texas. The portfolio features 6 buildings totaling 170,390 SF. The Newmark deal team included Stephen Bailey, Dustin Volz, Dom Espinosa, Zach Riebe, Travis McEldowney, Walker Lunsford, Caroline Wilson, and Jenna Butcher.

ACQUISITION: Lucern Capital Partners buys small bay asset in DC metro area. Lucern Capital Partners has acquired 11551 Edmonston Road in Beltsville, Maryland. The property features 28 units totaling 38,000 SF. Lucern acquired all of the units from 4 separate ownership groups. Frank Forte led the Lucern Capital Partners deal team.

ACQUISITION: Thematic Capital Group buys small bay warehouse in Melbourne, FL. Thematic Capital Group has acquired 7724 Matrix Way in Melbourne, Florida. The property features an 11,550 SF warehouse and is currently leased to Housman’s Aluminum & Screening. Jim Schaub with First South Real Estate Services and Gerold Butz with TREP Advisors facilitated the sale-leaseback transaction.

LEASE SIGNED: CBRE leases industrial space in Carlsbad, CA. CBRE has facilitated the leasing of 37,311 SF at 5830 El Camino Real in Carlsbad, California, bringing the building to 100% occupancy. Dennis Visser, Weston Yahn, and Jeanene Jones with CBRE represented the landlord, H.G. Fenton Co., in the transaction. Chris Roth with Lee & Associates represented the tenant, OOLY.

FROM OUR PARTNERS

One thing in IndustrialIQ that changes how you work:

Owner name. Phone number. Right there on the property page.

No records to chase. No middlemen.

Add comps, demographics, and satellite images on top of that.

Everything you need before you ever make a call.

Code SMALLBAY10 gets you 10% off.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

110,516 SF | 5 AC | 5 Buildings | 89 Suites | 87 Grade-Level Doors | 10’ Clear Height | Retail Storefront in Front Building | Proximity to William P. Hobby Airport, Ellington Field, and NASA Johnson Space Center | Easy Access to I-45 and Beltway 8 | Asking Price: $11,500,000

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

28,500 SF | 0.62 AC | 30 Units | Average Suite Size: 950 SF | Grade-Level Access | Asking Price: $3,200,000

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

1,492-7,518 SF | 6 Spaces Available | 16’-18’ Clear Heights | Power: 200A, 120/240V | Freshly Renovated Warehouse, Office, and Restroom Finishes | Less Than 2 Miles from I-275 and 5 Miles from I-4

800-1,200 SF | 2 Spaces Available | Located off Cameron Road with Easy Access to I-35, US-183, and US-290 | Flexible Lease Term Lengths

1,548-8,392 SF | 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

Advertise Listings | Share a Closing Announcement | Search Properties | Small Bay News | Comps | Professional Network | Email the Editor