Small Bay Daily - September 29 - Marcus & Millichap sells Suncoast small bay portfolio for $26M

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

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NEWS ROUNDUP

DISPOSITION: Marcus & Millichap sells Suncoast small bay portfolio for $26M. Marcus & Millichap has facilitated the sale of 2 small bay industrial assets in Bradenton and Palmetto, Florida. Combined, the properties total over 161,000 SF. Douglas Mandel led the Marcus & Millichap Mandel Group in the transaction.

DISPOSITION: Stream Realty Partners sells industrial building in Northern VA for $25M. Stream Realty Partners has facilitated the sale of 10904 Carolina Drive in Manassas, Virginia. The property features a 102,500 SF industrial building. Caulley Deringer, Steve Cloud, and Andrew Hassett with Stream represented the seller in the transaction and have been tapped by the new ownership to market the property for lease.

DISPOSITION: BRC sells 2 flex-industrial assets in Springfield, NJ, for $2.08M. Bussel Realty Corp (BRC) has facilitated the 2 separate transactions for 2 flex properties on Commerce Street in Springfield, New Jersey, for a combined $2.08M. Gregory Irving with BRC represented the sellers in both transactions. The properties are:

• 43 Commerce Street — 2,100 SF, sold for $685,000 to TPG LLC

• 44 Commerce Street — 4,000 SF, sold for $1,395,000 to 1407 Property LLC

ACQUISITION: The Silverman Group buys small bay portfolio in Sarasota, FL. The Silverman Group has acquired 6203-6221, 6202-6234, and 6250-6270 Clarity Court in Sarasota, Florida. The portfolio features 3 multi-tenant industrial buildings totaling 59,000 SF on 6.3 AC in the Porter Commerce Park. The Silverman deal team included Jimmy Vindici and Max Fuchsman. Jeffrey Button with RKW Button Inc. represented both the buyer and the seller in the transaction.

DISPOSITION: MG, Colliers sell industrial asset in Boston metro for $5.35M. MG Commercial and Colliers have co-listed and sold 1167 Main Street in Walpole, Massachusetts. The property features a 40,000 SF industrial facility. The buyer was Quality Air Metals Inc. George Paskalis led the MG deal team in the transaction.

LEASE SIGNED: LSI Cos., CBRE lease midbay industrial space in Fort Myers, FL. LSI Companies and CBRE have facilitated the leasing of 46,770 SF of industrial space at Alessio Trade Center in Fort Myers, Florida. Laura Cari with LSI Cos. represented the landlord in the transaction. Adam Bornhorst with CBRE represented the tenant.

READ: These are the top markets for small bay industrial, according to CoStar.

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SMALL BAY PROPERTIES FOR SALE

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20,600 SF | 1.15 AC | Dock-High and Grade-Level Loading | Below-Market Rents with Short-Term Lease Structures | Existing Submerged Land Lease until 2034, Providing 375’ of Access to Little Manatee River

8,590 SF | 6 Units Ranging from 1,000 to 2,000 SF | Each Unit Has Own Grade-Level Roll-up Door and Dedicated Parking | 4 Units Leased on Month-to-Month Basis | 15’ Clear Height

18,642 SF for Sale or Redevelopment | 0.8 AC | 4 Units | Includes 2,622 SF Dry Storage Warehouse | 3-Phase Power | Multiple Drive-in and Loading Points | Easy Access to I-25

SMALL BAY PROPERTIES FOR LEASE

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2,400 SF | Small Office Component | M1 Zoning | 18’ Ceiling Height | 1 Drive-in Bay | Functional Layout for Light Industrial or Manufacturing Users

24,534 SF Available | 16’ Clear Height | 30×30 Column Spacing | 110’ Truck Court | Exterior Loading Platform | Rear-Loaded with 10 Dock Doors, 2 Double-Wide Dock Doors, and 1 Drive-in | Heavy Power with 4,800 Amps of 3-Phase 120/208 Volt

1,152 SF | Metered for Electric | Immediate Access to I-880 | 1 Grade-Level Rollup Door | Office Space | 17’ Ceiling Height in Warehouse | 2 Reserved Parking Spaces

ONE MORE THING

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