Small Bay Daily - September 25 - Greenstone sells Chicagoland multi-tenant facility for $18M

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NEWS ROUNDUP

DISPOSITION: Greenstone sells Chicagoland multi-tenant facility for $18M. Greenstone Partners has facilitated the sale of 3501 West Howard Street in Skokie, Illinois. The property features a multi-tenant flex-industrial facility totaling 183,000 SF, with suites ranging from 3,000 to 15,000 SF. Danny Spitz with Greenstone represented both the buyer and the seller in the transaction.

DISPOSITION: Avison Young sells small bay asset in DC metro area for $10.5M. Avison Young has facilitated the sale of 202 Lane Court in Sterling, Virginia. The property features a 50,762 SF multi-tenant industrial building anchored by Caliber Collision. Jonathan Hipp and Rich Murphy with Avison Young represented the seller in the transaction.

DISPOSITION: JLL sells light industrial portfolio in Kansas City metro area. JLL has facilitated the sale of a 624,784 SF portfolio consisting of 7 buildings located in 3 infill business parks. The buyers were Block Real Estate and L&B Realty Advisors. Ed Halaburt, Sean Devaney, Kurt Sarbaugh, and Ross Bratcher with JLL represented the seller, Clarion Partners. The buildings in the portfolio are:

• 8340-8460 Flint Street in Lenexa, Kansas

• 8000-8030 Reader Street in Lenexa, Kansas

• 8052-8068 Reeder Street in Lenexa, Kansas

• 7920-7938 Marshall Street in Lenexa, Kansas

• 10413-10429 West 79th Street in Overland Park, Kansas

• 10504-10630 West 79th Street in Overland Park, Kansas

• 10601 West 79th Street in Overland Park, Kansas

DISPOSITION: Cushman & Wakefield sells small bay portfolio in Tampa, FL. Cushman & Wakefield has facilitated the sale of 2 small bay parks in the Tampa area. The portfolio totals 470,563 SF across 9 buildings. The CushWake deal team included Rick Colon, Rick Brugge, Dominic Montazemi, Mike Davis, Gina Allegrini, Alexandra Sulte, Ryan Jenkins, Jeremy Fisch, Francisco Palacios, Brooke Cajthaml, and Jordan Spitzberg. The properties in the portfolio are:

• New Tampa Commerce Center, 11411-11471 US-301 in Thonotosassa — 174,775 SF across 4 buildings

• Compark 75, 4437-4610 Pet Lane in Lutz —295,788 SF across 5 buildings

DISPOSITION: Lee & Associates sells small bay asset in Atlanta metro area. Lee & Associates has facilitated the sale of 6275 GA-85 in Riverdale, Georgia. The property features 3 multi-tenant industrial buildings totaling 49,211 SF. Trey Tumlin, Elizabeth Kennedy, and Michael Sutter with Lee & Associates Atlanta represented the seller, Outour Storage Investments, in the transaction.

LEASE SIGNED: Mayhugh leases small bay unit in Fort Myers, FL area. Mayhugh Commercial Advisors has facilitated the leasing of 1,155 SF of industrial space at 5451 Lee Street, Unit 9, in Lehigh Acres, Florida. Chase Mayhugh and Jhonny Iglesias with Mayhugh represented the landlord in the transaction.

FROM OUR PARTNERS

As experienced industrial operators, we understand the unique dynamics of Small Bay assets. Our high leverage lending solutions are designed for Industrial, providing the flexibility investors and operators need to execute on their business plan.

SMALL BAY PROPERTIES FOR SALE

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80,000 SF Total | 2 Buildings | 100% Leased | 401 Prince George’s: 7,000-10,000 SF Units with 24-26’ Clear Heights, Dock Loading, Low Office Finish, and Fully Sprinklered | 403 Prince George’s: 17,000 SF Building with 22’ Clear Height, Drive-Through Overhead Doors, and 7,313 SF In-line Storage Bay | IOS: 23,000 SF Fenced, Lit, Secured, and Paved | Close to US-301, US-50, and I-495

Plans in Place for 48,000 SF Facility with 48 Units Across 4 Buildings | 6.03 AC | Shovel-Ready Project Includes All Entitlements, Completed Engineering, and Architectural Plans for Immediate Construction Start | Each Building Will Feature Secure Access, Insulated Construction, and Flexible Unit Configurations | Direct Access to KS-7 and Minutes to I-435/I-35 Interchange | Easy Connection to Kansas City Intl. Airport

148,500 SF | 9.6 AC | 3 Buildings | 13 Suites | 98.7% Occupancy | 24’ Clear Height | 5 Grade-Level Doors | 18 Dock Doors | Within 3 Miles of Washington Dulles Airport

SMALL BAY PROPERTIES FOR LEASE

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1,500 SF | 9’x10’ Roll-up Door | Grade-Level Loading | Private Office | Close Proximity to I-15

2,500-6,700 SF | 2 Spaces Available | Dock-High Doors | 16’ Clear Height

For Sublease | 14,600 SF | (2) 12’x14’ Drive-in Doors and (1) 8’x10’ Dock-High Door | 25’ Clear Height | 2 Restrooms | Lease Term Ends 2028

ONE MORE THING

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