Small Bay Daily - March 20 - BKM buys Southwest industrial portfolio for $254M

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NEWS ROUNDUP

ACQUISITION: BKM buys industrial portfolio in US Southwest for $254M. BKM Capital Partners has acquired a portfolio of 6 multi-tenant industrial properties in Nevada and Arizona. The portfolio includes 108 units across 21 buildings for a total of more than 1.2M SF. The median size for each unit it 13,357 SF. The BKM deal team was led by Brett Turner. The properties are:

• 801 South 85th Avenue in Tolleson, Arizona — 331,398 SF

• Park Lane North & South in Tempe, Arizona — 134,200 SF

• Rose Garden Business Park in Phoenix, Arizona — 157,631 SF

• Kyrene CommercePlex in Chandler, Arizona — 312,403 SF

• Mesa Vista A&B in Las Vegas, Nevada — 163,165 SF

• Cameron Industrial Center in Paradise, Nevada — 100,392 SF

ACQUISITION: CanTex buys shallow bay warehouse in Dallas, TX metro area. CanTex Capital has acquired 9160 Sterling Street in Irving, Texas. The property features a 34,781 SF multi-tenant warehouse on 2.37 acres. Romy Cheema and Sam Cheema lead the CanTex team. Sam Crain and Oliver Day with Hold Lunsford Commercial facilitated the off-market transaction.

FINANCING: Genesis closes $9.6M loan for small bay portfolio in Tappan, NY. Genesis Credit has closed on acquisition financing for a portfolio of small bay facilities in Tappan, New York. Totaling 83,000 SF with 1.5 acres of industrial outdoor storage (IOS), the properties include 1-37, 202, 238, and 270-280 Oak Tree Road and 10, 30, 70, and 100 Rockland Park Avenue. The Genesis deal team included Michael Hess, Jake Gerber, and Ezra Husney. (If you like the idea of industrial outdoor storage, subscribe to IOS List for free!)

FINANCING: BBCP closes $3.575M refi loan for midbay facility in Orlando, FL. Black Bear Capital Partners (BBCP) has funded a refinance loan for 2123 West Church Street in Orlando, Florida. The property features a 52,500 SF industrial building that has been refinanced with a 5-year fixed-rate loan. Eric Trombly with BBCP arranged the financing on behalf of owner Mindful Capital.

LEASE SIGNED: BRC leases industrial space in Somerset, NJ. Bussel Realty Corp. (BRC) has leased 25,000 SF of industrial space at 72 Veronica Avenue in Somerset, New Jersey. The deal brings the 50,000 SF property to 100% occupancy. Gregory Irving and Anthony Mircovich with BRC represented the landlord, Veronica Development Association (VDA), in the transaction. Antonio DeCicco with ReMax InStyle Realty represented the tenant, Infinity Fragrances LLC.

LEASE SIGNED: Finial leases shallow bay warehouse in Houston, TX. Finial Group has facilitated the leasing of Building J, 11050 West Little York Road in Houston, Texas. The building is a single-tenant industrial warehouse totaling 20,200 SF. Christian Villarreal and Jack Gaffney with Finial represented the tenant, Intertec Instrumentation Inc., in the transaction.

SEEKING A VP OF ACQUISITIONS

Fort Companies is looking for a Vice President of Acquisitions to source and secure high-quality, value-add real estate opportunities across targeted asset classes, including industrial, land, office, and distressed properties in key markets.

This senior role, which is based in Dallas/Fort Worth, requires 10+ years of experience in acquisitions, business development, or relationship management within the real estate investment sector.

The ideal candidate will have deep market expertise, strong industry relationships, and come with demonstrated success in sourcing on and off-market deals and unique acquisition opportunities through strong relationships.

To apply, submit your resume to Steve Bailey.

SMALL BAY PROPERTIES FOR SALE

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For Sale and Lease | 7,500 SF Warehouse | 1,124 SF Standalone Office | 7.63 AC | 15’ Clear Height | (6) 12’x14’ Drive-Thru Roll-up Bay Doors | Concrete Floors | 3-Phase Power | 200 SF Canopy Area

16,000 SF Total | 6,160 SF Office | 0.92 AC | (2) 4,000 SF Yards | 21’ Clear Height | (1) 12’x14’ Door, plus 3 Framed-in Door Openings | 3-Phase Power | Roof Replaced

38,706 SF Total | 1.93 AC | 2 Buildings | 91% Leased | Below-Market Rents | Close to US-90

SMALL BAY PROPERTIES FOR LEASE

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2,500 SF | Minutes from Downtown Fort Lauderdale and Flagler Village | Open Concept Design for Flexible Layout Options | Garage Door

5,000 SF | 7 AC | (1) 14’ Grade-Level Door, (1) 12’ Grade-Level Door, and (3) 14’x12’ Grade-Level Insulted Overhead Doors | Fenced 2 AC Stack Yard (Expandable up to 7 AC)

6,000-20,000 SF | 2 Spaces Available | Easy Access to I-95 and MD-100 | 20’ Clear Height | Dock Loading | Public Utilities | Sprinklered

ONE MORE THING

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