Small Bay Daily - September 24 - JLL sells Los Angeles-area shallow bay industrial park for $60.5M

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NEWS ROUNDUP

DISPOSITION: JLL sells Los Angeles-area shallow bay industrial park for $60.5M. JLL has facilitated the sale of Walnut Tech Business Center, located at the intersection of Valley Boulevard and Lemon Avenue in Walnut, California. The property features 11 multi-tenant buildings with 109 suites across 200,049 SF. The buyer, CIP Real Estate, plans to undertake a $3.5M capital market program to upgrade the interiors and exteriors. Eric Smyth led the CIP Real Estate deal team. Patrick Nally, Evan Moran, Chad Solomon, Shae Vomund, Lauren O’Neill, and Maria Alzaga with JLL represented the seller.

DISPOSITION: Corebridge/Kadima JV sells shallow bay industrial portfolio in NJ. A joint venture between Corebridge Real Estate Investors and Kadima Industrial Partners has sold a portfolio of 12 small bay industrial assets in 4 New Jersey counties. The portfolio totals 840,000 SF. The buyer was L&B Realty Advisors. The Corebridge deal team was led by Christopher Tulimieri. The Kadmia deal team included Ariel Tambor, Aaron Malitzky, Noah Matarasso, Zev Markowitz, and Yisroel Markowitz. Ryan Cottone, John Plower, William McCormack, Jose Cruz, and John Huguenard with JLL represented the sellers in the transaction.

DISPOSITION: Cushman & Wakefield, SLG1 Realty sell small bay asset in Jupiter, FL, for $19.25M. Cushman & Wakefield and SLG1 Realty have teamed up to facilitate the sale of 15132 Park of Commerce Boulevard in Jupiter, Florida. The property features a multi-tenant industrial building totaling 102,503 SF on 6.19 AC. Steve Garine with SLG1 Realty and Scott O’Donnell, Gregory Miller, Mike Ciadella, Miguel Alcivar, and Zachary Ramoski with Cushman & Wakefield represented the seller, POC Realty, in the off-market transaction. David Burck with Compass represented the buyer.

DISPOSITION: SVN | The Equity Group sells flex industrial building in Las Vegas for $6.4M. SVN | The Equity Group has facilitated the sale of 5415 Cameron Street in Las Vegas, Nevada. The property features a multi-tenant industrial building totaling 28,400 SF. Paul Chaffee led The Equity Group team in the transaction.

LEASE SIGNED: Colliers leases small bay warehouse on Long Island. Colliers has facilitated the leasing of 20,000 SF of industrial space at 999 South Oyster Bay Road in Bethpage, New York. Steven Sessa and Justin Maiorano led the Colliers deal team.

LEASE SIGNED: Spectrum CRE leases small bay space in Santa Clarita, CA. Spectrum Commercial Real Estate has facilitated the leasing of 7,883 SF of industrial space at 26450 and 26470 Ruether Avenue in Santa Clarita, California. Yair Haimoff, Andrew Ghassemi, and Connor Quan led the Spectrum deal team.

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SMALL BAY PROPERTIES FOR SALE

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41,769 SF | 2.388 AC | 2 Buildings | 17 Units | Fully Occupied | Masonry Construction | 12’ Clear Height | 20 Drive-in Doors | 122 Parking Spaces | Close to I-294 and I-94 in Sky Harbor Industrial Park | ASKING PRICE: $4,150,000

33,000 SF | 1.66 AC | 2 Buildings | 17 Units | 95.8% Occupied | 21 Drive-in Doors | 3-Phase Power | Controlled Access | 16-18’ Clear Heights | Close to TX-6, I-10, Beltway 8, and Energy Corridor

17,820 SF | 1.66 AC | 27 Small Bay/Self-Storage Units Averaging 660 SF Each | Currently 96% Leased | Steel-and-Masonry Construction with Metal Exterior Walls and Roof, Concrete Slab Foundation and Flooring, Metal Roll-up and Swing Doors | ASKING PRICE: $2,400,000

SMALL BAY PROPERTIES FOR LEASE

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1,600-6,400 SF | Grade-Level Loading with 10’x12’ Roll-up Doors | 15’6”-18’16” Clear Heights (Sloped) | 3-Phase Power | Monument Signage Available

1,200 SF | 14’ Overhead Door | Floor Drain | Heated | Easy Access to I-80 | Great for Storage, Shop, Small Business, Etc.

6,104-12,208 SF | New Construction | 17’9” Clear Height | 750 SF of Finished Office Space Including Kitchen, 2 Private Offices, 2 Bathrooms, and Dedicated HVAC | 11,000 SF Fully Paved and Gated Surface Lot | Enclosed by 6’ Fence

ONE MORE THING

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