IOS Daily - April 27 - Open Industrial and NPG form partnership, buy 3.2 AC IOS in Los Angeles

NEWS ROUNDUP

ACQUISITION: Open Industrial and Negresso Property Group buy 3.2 AC IOS in Los Angeles. Open Industrial and Negresco Property Group (NPG) have acquired 5721 West 96th Street in Los Angeles, California. The property, which is located immediately adjacent to LAX, features a 30,000 SF industrial building and is 100% occupied by Avis. The transaction represented the first closing in a new Co-GP partnership between the 2 firms, introduced by Lee Sager and David Harris of Camps Bay Capital. The partnership looks to amass a significant IOS portfolio across Southern California targeting core, core+, and value-add opportunities, led by NPG founder Benji Miller. The Open Industrial deal team was led by Blake Potolicchio, Matt Potolicchio, and Chad Pitts. Chad Solomon with JLL sourced the deal.

ACQUISITION: CanTex Capital buys 9.4 AC IOS portfolio in Dallas metro area. CanTex Capital has acquired 801, 1039, and 2100 North Walton Walker Boulevard and 1930 Hinton Drive in Irving, Texas. Combined, the portfolio features 47,465 SF of industrial improvements on 9.4 AC. Sam Cheema, Romy Cheema, and Jack Dunavant led the CanTex Capital deal team. Chase Miller with NAI Robert Lynn facilitated the transaction.

ACQUISITION: Jadian IOS buys 2.1 AC industrial service facility in Atlanta metro. Jadian IOS has acquired 3101 North Berkeley Lake Road in Duluth, Georgia. The property features 2 shop/warehouse buildings totaling 8,000 SF. Mason Baldwin, Alex Stahl, and Daniel Schuchinsky led the Jadian IOS deal team in the transaction.

LEASE SIGNED: NAI Robert Lynn leases 1.82 AC IOS in Houston metro area. NAI Robert Lynn has facilitated the leasing of 21706 Northwest Freeway in Cypress, Texas. The property features 14,475 SF of warehouse and office space. Trey Erwin and Josh Carl with NAI Robert Lynn secured a 12-year lease on behalf of the landlord.

LEASE SIGNED: The Flynn Co. leases 2.65 AC IOS in Philadelphia. The Flynn Co. has facilitated the leasing of 6660 Essington Avenue in Philadelphia, Pennsylvania. The property includes a 1,400 SF 2-story office building, as well as a 2,750 SF garage. Colin Flynn and Ben Conway with The Flynn Co. represented the landlord in the transaction.

PARTNERSHIP: Broe Real Estate Group commits $100M to grow IOS platform. Broe Real Estate Group (BREG) is investing $100M to expand its rail-connected industrial real estate platform into a nationwide network of IOS and multimodal logistics hubs, in partnership with OmniTRAX. Existing sites will be scaled alongside new developments to meet strong demand for flexible, rail-connected logistics space. The initiative also includes repurposing underutilized rail-adjacent properties into productive industrial assets. The BREG team includes VP Chris Tecu, while OmniTRAX is led by CEO Colby Tanner.

FROM OUR PARTNERS

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3.72 AC | Infill Location with Future Redevelopment Potential | 100% Leased to Industrial Credit Tenant with BBB+ Rating | Stable 5-Year Cash Flow with Future Upside Potential | Function, Modern, Mission-Critical IOS Facility with Low Site Coverage | 2,850 SF Renovated Office with Mezzanine, 9 Drive-ins, Full Clear Span, and LED Lighting | Easy Access to I-70 and I-25 | Closest Equipment Rental Site to Downtown Denver

For Sale and Lease | Asking Price: $2,000,000 | Rental Rate: $15,000/Mo. NNN | ±4.28 AC of Concrete and Secured Parking with Exterior Lights, Electric Plug-ins, and Cameras | ±14,000 SF Maintenance Building (Renovated in 2014) Includes New Air Make-up System, Air Lines, Cranes, Oversized Overhead Doors and Office Space | Centrally Located ±5 Miles West of I-43 and ±5 Miles East of I-41/Hwy 45

IOS Redevelopment Site for Sale | ±17.07 AC | Currently: 451,791 SF of Industrial Facilities | Potential to Redevelop into ±130,000 SF Cross-Dock Facility with 10-14 AC of Trailer Storage | Abundant Heavy Power on Site | All Utilities Available | ±1.5 Miles to I-75 at Exit 216, ±23 Miles to I-285, and ±222 Miles to Port of Savannah

6.64 AC | Fully Fenced, Gated, Paved, and Lit Yard | 70,042 SF Warehouse/Office Facility | Recent Roof and Fire Sprinkler Upgrades (Existing High Pile Permit) | Multiple Ingress/Egress Point | 3,533 SF Maintenance Building with Wash-Bay and Containment Basin | Immediate Access to Major Houston Highway Systems (I-45, Loop 610, and Beltway 8) | Close Proximity to Refinery Complexes and Port Container Terminals | 3-Phase, Heavy Power Service

3.38 AC | Paved and Fully Fenced with 2 Access Gates | Renovations Underway Under New Ownership | 16,112 SF Warehouse with 14 Grade-Level Doors and 1,500 SF of Office Space | Close to I-85 and Highway 321 Interchange

Industrial Space with Trailer Parking for Lease | 35,700-80,162 SF Available | 38 Trailer Parking Spaces | Paved | Utilities Onsite | Warehouse with 4,043 SF Office, 16 Dock-High Doors, 3 Ramps, LED Motion Sensor Lights, ESFR, 1600 Amps, 209’ Depth, and 32’ Ceiling Heights | Close to I-95 and Florida Turnpike