Small Bay Daily - May 26 - EQT buys shallow bay property in Irvine, CA, for $31M

Good morning. Welcome to Small Bay List!

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

Now, let’s get to it!

NEWS ROUNDUP

ACQUISITION: EQT buys shallow bay property in Irvine, CA, for $31M. EQT Real Estate has acquired 9600 Toledo Way in Irvine, California. The property features a 90,975 SF industrial asset. The seller was Link Logistics. Henry Steinberg led the EQT deal team. Luke Petherbridge led the Link Logistics deal team.

ACQUISITION: CBRE brokers sale of shallow bay facility in Phoenix metro area for $20.75M. CBRE has facilitated the sale of 8700 North 91st Avenue in Peoria, Arizona. The property features a multi-tenant industrial building totaling 75,549 SF. Geoffrey Turbow with CBRE represented the buyer, Trumark Real Estate Management, in the transaction. The seller was The Initial Development Co., led by David Baum.

ACQUISITION: The Avidan Group buys shallow bay development site in Ft. Pierce, FL, for $7.4M. The Avidan Group has acquired a 34 AC parcel of land located at the corner of Floyd Johnson Road and North Jenkins Road in Fort Pierce, Florida. The property is adjacent to a 10.7 AC parcel that the firm acquired in November. The Avidan Group plans to build nearly 500,000 SF of shallow bay industrial warehouse space on the 2 parcels. Bob Mion with Compass represented The Avidan Group in the transaction. Gary Webb with Choice Properties represented the seller.

ACQUISITION: CRE Capital buys Atlanta-area shallow bay property for $1.58M. CRE Capital Management has acquired 1037 Parkway Court in Buford, Georgia. The property features 2 buildings totaling 13,500 SF and is currently 100% occupied. Abhi Acharya led the CRE Capital deal team in the off-market transaction.

DISPOSITION: JLL sells small bay warehouse in South Windsor, CT. JLL has facilitated the sale of 1590 John Fitch Boulevard in South Windsor, Connecticut. The property features a 62,897 SF industrial building that is currently 100% leased. The buyer was Sticks Investment Group. The JLL deal team included David Coffman, Benjamin Roopenian, Michael Restivo, Tommy Hovey, Alison Howard, Michael Shepard, and Shawn McMahon.

READ: Multi-tenant light industrial properties keep outperforming larger warehouses.

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3,640 SF | 18’ Clear Height | (1) 9’x12’ Drive-in Door | Prominent On-building Signage Opportunities | Immediate Connectivity to I-15, InterQuest Parkway, Voyager Parkway, and Broader North Colorado Springs Trade Area

2,307 SF | 2 Offices | 2 Restrooms | Open Warehouse | Grade-Level Roll-up Door | Close to I-75, I-4, and US-301 | Heavy Industrial Zoning

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ONE MORE THING

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