Small Bay Daily - September 9 - Speed Bay obtains $100M loan for flex-industrial property in Phoenix

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NEWS ROUNDUP

FINANCING: Speed Bay receives $100M loan for flex-industrial in Phoenix. Speed Bay Warehouse Solutions has obtained a $100M loan for Carlton Square, located at 1711 West Rose Garden Lane. The loan was issued by Wells Fargo Bank. The property features 4 buildings totaling 84,707 SF. Speed Bay acquired the asset from Top 10 Properties for $17.4M. The Speed Bay leadership team includes Evan Zucker, James Mulvihill, and Rob Sistek.

ACQUISITION: Terreno buys small bay in South San Francisco for $10.2M. Terreno Realty Corp. has acquired 258 Littlefield Avenue in South San Francisco, California. The property features a 32,000 SF industrial distribution building on 1.1 acres and is adjacent to Terreno’s previous acquisition, 240 Littlefield Avenue. Blake Baird, Mike Coke, Jaime Cannon, and John Meyer lead the Terreno team.

DISPOSITION: Marcus & Millichap sells small bay in Indianapolis for $1.63M. Marcus & Millichap has facilitated the sale of 1140 South West Street in Indianapolis, Indiana. The property features a 40,000 SF industrial building currently leased by FleetPride. The sale price was $1,627,218. Andrew Whinery with Marcus & Millichap represented the seller in the transaction.

ACQUISITION: Roth Capital buys small bay in Asheville metro area for $1.12M. Roth Capital has acquired 452 Butler Bridge Road in Fletcher, North Carolina. The sale price was $1,117,500. The property features a 9,250 SF industrial building. Jim Kittridge led the Roth Capital deal team.

ACQUISITION: Rising Realty Partners buys small bay portfolio in Denver. Rising Realty Partners has acquired Arapahoe Corporate Park I & II, located at 12503 East Euclid Drive and 6547 South Racine Circle in Centennial, Colorado. The property features 2 multi-tenant light industrial buildings totaling 159,331 SF. Scott Hahn and John Golden led the Rising Realty Partners deal team.

LEASE SIGNED: Lee & Associates leases small bay space in Dallas-Ft. Worth area. Lee & Associates has facilitated the leasing of 10,318 SF of industrial space at 3227 Commander Drive in Carrollton, Texas. Stephen Williamson and Corbin Blount with Lee & Associates Dallas-Fort Worth represented the tenant, RLS Interests, in the transaction. Michael Haggar with JLL represented the landlord, TE Frossard JR.

SMALL BAY PROPERTIES FOR SALE

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For Sale and Lease | 10.4 AC | Fully Approved for 6 Buildings Totaling 86,550 SF at $30/SF | Seller Financing Available | Close to I-195, NJ Turnpike, US-9, and Garden State Parkway | Email for Details

17,550 SF | 1.9 AC | 8 Units: 900-9,450 SF | 12’-15’ Clear Heights | 3 Drive-in Doors | 4 Dock-High Doors | Close to Covington Highway, I-20, and I-285

144,300 SF | 9.07 AC | Newly Constructed Shallow Bay Industrial Business Park | 4 Buildings | 74 Units Averaging 1,950 SF | Fully Leased | Projected NOI of $1.2M and Average 3% Annual Rent Increases | Each Unit Features Warehouse Space, Private Restroom, Fenced Yard, and Small Office | Located Just off CA-99

SMALL BAY PROPERTIES FOR LEASE

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2,400-24,000 SF | 12'x14' Grade-Level Doors | 3-Phase Power | 24' Clear Height | Great Access to US-290 and Beltway 8

480 SF Available | 15’ Clear Height | Grade-Level Overhead Door | Close to I-95, Melbourne Orlando Intl. Airport, and Orlando’s Central Business District

1,500-16,000 SF | Newly-Developed Flex Garage Space Near the Charles B. Wheeler Downtown Airport | Each Unit Includes a Restroom, Utility Closet with a Ground Sink, and Individual HVAC Control | Units Can Be Combined | Move-in Special: 1 Month of Free Rent With Min. 13-Month Lease

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