Small Bay Daily - September 24 - Brennan buys portfolio in Chicago for $76M

Good morning. This is Small Bay List, and we help you fit in.

→ We are here to serve the owners, brokers, and tenants who are interested in small bay, shallow bay, and mid bay industrial. Do us a favor and forward this email to your favorite industrial pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: Brennan buys 17-building portfolio in Chicagoland for $76M. Brennan Investment Group has acquired Yorkbrook Business Park, an industrial portfolio located on Eisenhower Lane in Lombard, Illinois. The portfolio consists of 17 individual buildings totaling 740,000 SF on approximately 60 acres. The Brennan deal team included Kevin Brennan and Daniel Smith. The seller, Investcorp, was represented by Michael Caprile, Bentley Smith, Ryan Bain, Joe Horrigan, Zach Graham, Victoria Gomez, and Judd Welliver with CBRE.

ACQUISITION: Legacy buys small bay in Largo, FL. Legacy Capital Partners has acquired 2250 10th Street Southeast in Largo, Florida. The property features a value-add 27,115 SF small bay facility. The Legacy deal team was led by Jack McCunn. The leasing of the property will be handled by Caitlin Quinlan and Jesse Drake with Foundry Commercial.

FINANCING: BKM executes $110M recap of small bay portfolio. BKM Partners and their JV partner, a global investment manager, have executed a $110 million recapitalization of a 5-property portfolio. The transaction expands the JV’s total holdings to more than $760 million in value. The BKM team is led by Brian Malliet and Brett Turner. The portfolio consists of 90 units with nearly 540,000 SF of small bay space. It includes:

• Faraday Industrial Park — 99,439 SF in San Diego, California

• Cherry Commerce Center — 97,799 SF in Newark, California

• Havana 37 Business Center — 150,255 SF in Denver, Colorado

• Patrick Airport Center — 142,451 SF in Las Vegas, Nevada

• Mojave Airport Center — 50,066 SF in Las Vegas, Nevada

LEASE SIGNED: SVN brokers lease of small bay in Miami, FL. SVN Commercial Realty has facilitated the lease of 7455 Northwest 32nd Avenue in Miami, Florida. The small bay industrial facility includes an 18,364 SF warehouse. Joel Kattan and Anthony Peragine with SVN represented the owner, John Safi. The new tenant is a millwork company.

DEVELOPMENT: Hopewell/MBK break ground on mid bay park in DFW area. Hopewell Development and MBK Industrial Properties have broken ground on Lakeside Business Center, located at the intersection of Lakeside Parkway and Gerault Road in Flower Mound, Texas. The project, which is scheduled for completion in summer 2025, includes 2 Class A distribution warehouses totaling 123,910 SF. The buildings will be available for sale or lease through Adam Graham and Alex Wilson with Lee & Associates.

READ: Small bay market expands post-COVID.

SMALL BAY PROPERTIES FOR SALE

Click on each photo for more information.

10,000 SF | Subdivisible to (2) 5,000 SF Units | (2) 12’x14’ Grade Doors | 1,200 SF Office | For Sale and Lease

15,180 SF | 1.18 AC | (4) 1,900-5,000 SF Suites | 100% Leased | 9 Grade-Level Doors

Total 67,420 SF | 2 Standalone Buildings | 3.2 Year WALT | 100% Leased

SMALL BAY PROPERTIES FOR LEASE

Click on each photo for more information.

1,600-16,000 SF | 3 Buildings | New Construction | Industrial/Flex Facility

3,200 SF | 1 Unit Available | (1) 12’x16’ Grade-Level Door | 24’-27’ Clear Height

1,200 SF | 2 Units Available | 12’ Roll-Up Doors | 14’-16’ Ceiling Height

ONE MORE THING

→Try our resources for small bay pros:

Search Properties (beta) | Small Bay News | Comps | Professional Network

Advertise Listings | Share a Closing Announcement