Small Bay Daily - November 20 - JLL secures $820M shallow bay refi loan for CIP/Almanac JV
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NEWS ROUNDUP
FINANCING: JLL secures $820M shallow bay refi loan for CIP/Almanac JV. JLL has represented a joint venture between affiliates of CIP Real Estate and Almanac Realty Investors in the securing of a floating-rate single-asset single-borrower refinance loan for a national portfolio. The portfolio consists of 42 shallow bay industrial assets totaling 6.13M SF in the Atlanta, Charlotte, DFW, East Bay, Inland Empire, and Tampa markets. The lead lender was Wells Fargo, while JPMorgan Chase and Goldman Sachs originated portions of the loan. Kevin MacKenzie, Christopher Pratt, and Peter Thompson led the JLL deal team.
ACQUISITION: BKM and Kayne Anderson buy Bay Area industrial park for $25M. BKM Capital Partners and Kayne Anderson Real Estate have acquired Pleasant Hill Industrial Park, located at 2420-2495 Estand Way in Pleasant Hill, California. The property features 4 multi-tenant industrial buildings totaling 104,010 SF. The average size of the park’s 16 units is 6,500 SF. The seller was Lowenberg Corp. The BKM deal team included Brett Turner, Michael Grossner, and Brian Malliet.
ACQUISITION: Lee & Associates brokers sale of small bay asset in DFW metro. Lee & Associates Commercial Real Estate Services has facilitated the sale of 10552 County Road 213 in Forney, Texas. The property features 29 small bay industrial buildings totaling 206,000 SF. Colton Rhodes and Stephen Williamson with Lee & Associates Dallas/Fort Worth represented the buyer, Tillar Partners LLC, in the transaction.
ACQUISITION: AKRE Partners buys small bay facility in Laredo, TX. AKRE Partners, LLC , in a partnership with Sunwest Real Estate Group , has acquired 13609 Archer Drive in Laredo, Texas. The property features a 36,000 SF small bay industrial building. The AKRE Partners deal team included Harry Ashforth and Nadav Kariv, while Marc Grossfeld and Robert Clark led the Sunwest team. Juan Fraga with FIRST HOUSTON Properties, INC. facilitated the transaction. Jeff Zickefoose and Raymond Flume Jr. with Hamilton Realty Finance arranged the debt financing.
LEASE SIGNED: Obsidian Group leases small bay space in Twin Cities metro. OBSIDIAN GROUP has facilitated the leasing of 13,832 SF of industrial space at 1600 67th Avenue North in Brooklyn Center, Minnesota. Ethan Finger and Daniel Kurkowski with Obsidian represented the tenant, Fit Butters, in the transaction.
SMALL BAY PROPERTIES FOR SALE
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40,296 SF Total | 30,636 SF of Warehouse Space | 9,660 SF of Office Space | 9 Units Ranging from 3,488-7,280 SF | Close Proximity to I-757, I-75, I-85, and I-20
Brokers: Todd Harrell and Steve Bartlett with Colliers
11,000 SF | 0.76 AC | 2 Buildings | 100% Leased to 3 Tenants | (5) 9’x12’ Roll-up Doors | (2) 16’x11’ Roll-up Doors | (1) 12’x13’ Roll-up Door | 12’ Clear Height
Broker: Joshua Johnson with Marcus & Millichap
18,120 SF | 1.19 AC | 2 Buildings | 36 Units | Less Than 5 Minutes from Port Canaveral | Below-Market Month-to-Month Leases | 12’-16’ Clear Heights | 27 Warehouse Bays | 10’x10’ and 12’x10’ Roll-up Doors
Brokers: Blake Wilson and Jeffrey Robison with Lightle Beckner Robison, Inc.
SMALL BAY PROPERTIES FOR LEASE
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6,000-20,000 SF | 2 Spaces Available | Easy Access to I-95 and MD-100 | 20’ Clear Height | Dock Loading | Public Utilities | Sprinklered
Brokers: Vince Bagli, Elizabeth Allison, Jamie Campbell, and Delfina Kelly with Merritt Properties, LLC
1,320 SF | End Unit | 13’10”-16’ Clear Heights | (1) 12’x12’ Roll-up Door | Modified Gross Lease + Electric | Easy Access to I-275 and US-92 | 2 Parking Spaces
Broker: Cherie Tedesco-Gamble with KW Commercial
50,000 SF | 2,500 SF Office Area | 2 AC of Fenced and Paved Yard | 32’ Clear Height | 4 Dock Doors | 2 Drive-in Doors
Broker: Brian Allardt with Coldwell Banker
ONE MORE THING
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