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Small Bay Daily - September 10 - Endurance and Greystar buy shallow bay portfolio in Philly

Small Bay Daily - September 10 - Endurance and Greystar buy shallow bay portfolio in Philly

Endurance/Greystar buy PA shallow bay. Basis buys FL small bay park. Dalfen buys FL portfolio. Evergreen Devco develops park in AZ. JLL brokers MD leases. Newmark leases FL small bay. Six new listings.

Katherine Peach
September 10, 2024

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NEWS ROUNDUP

ACQUISITION: Endurance/Greystar buy shallow bay portfolio in Philly. Affiliates of Endurance Real Estate Group and Greystar-Thackeray have acquired a portfolio of 6 light industrial buildings. The properties are located at 603 General Washington Avenue and 2495, 2562, and 2564 Boulevard of the Generals in Norriston, Pennsylvania, a Philadelphia suburb. The portfolio totals 200,539 SF. Cushman & Wakefield’s Gerry Blinebury, Jonas Skovdal, and Brendan McGeary represented the seller, while C&W’s John Alascio, Aaron Graves, and TJ Sullivan secured financing for the deal. The Endurance deal team included Benjamin Cohen and Jared Newman. The Greystar deal team included Joe Chu.

ACQUISITION: Basis buys small bay park in St. Pete, FL area. Basis Industrial has acquired Pinellas Business Center on Roosevelt Avenue in Pinellas Park, Florida, a St. Petersburg suburb. The seller of the 206,275 SF, 6-building park was Taurus Investment Holdings. Dale Peterson, Joe Chick, and Courtney Snell of CBRE Capital Markets represented Taurus in the sale.

ACQUISITION: Dalfen buys FL small bay portfolio for $26.25M. Dalfen Industrial has acquired 1020 Southwest 10th Avenue in Pompano Beach, 3590 Northwest 54th Street in Fort Lauderdale, and 3555-3569 Northwest 53rd Court in Fort Lauderdale. The portfolio totals 102,038 SF. Luis Castillo, Cody Brais, Wells Waller, and Taylor Osborne of JLL represented the seller, Berkeley Partners.

DEVELOPMENT: Evergreen Devco to build small bay park in Tempe, AZ. Evergreen Devco will raze an office building at its newly-acquired site at 2530 West Campus Drive and 2727 South 48th Street in Tempe, Arizona. In its place, the site will feature 1.5 acres of IOS yard plus 2 small bay industrial buildings totaling 171,000 SF. The Evergreen team includes Brian Dietz.

LEASE SIGNED: JLL brokers 2 small bay leases in DC metro area. JLL represented the tenant in the leasing of 4611 Assembly Drive in Landham, Maryland, a property totaling 8,126 SF. JLL also represented the landlord in the leasing of 5200 Minnick Road in Laurel, Maryland, a property totaling 8,004 SF. The JLL deal team included John Dettleff, Dan Coats, Abbot Wallenborn, and Geoffrey H. Thomas Jr.

LEASE SIGNED: Newmark leases mid bay in Miami, FL. Newmark leased 76,337 SF of the Gratigny Central Industrial Park in Miami, Florida. The Newmark deal team of Steve Medwin and Nick Wigoda represented the landlord, Ares Management Corp. The Ares deal team was led by Alisia Kemper.