IOS Daily - August 1 - Bay Street Capital buys warehouse with IOS in Fort Myers, FL for $4.5M

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NEWS ROUNDUP

ACQUISITION: Bay Street buys warehouse with IOS in Fort Myers, FL for $4.5M. Bay Street Capital and partner Beerock Holdings have acquired 3531 Old Metro Parkway in Fort Myers, Florida. The 1.38 acre property features a 27,480 SF industrial building plus IOS space. Jeremy Stenberg led the Bay Street deal team, while the Beerock Holdings team was led by Benjamin Meland. Pablo Vignolo, Kevin Perez, and Raul Pino with The Hype Real Estate Group represented both the buyers and the seller in the off-market transaction.

DISPOSITION: CBRE sells 2.07 acre IOS in Rochester, MN. CBRE has facilitated the sale of 3731 Enterprise Drive in Rochester, Minnesota. The low-coverage property features a 16,580 SF industrial building. Myles Harnden and Hunter Weir with CBRE represented the seller in the transaction.

ACQUISITION: CanTex buys 4.51 IOS in Dallas-Fort Worth metro area. CanTex Capital has acquired 1809 John McCain Road in Colleyville, Texas. The property features 15,000 SF of shop and office space. Liam Wagner and Luke Nolan with Younger Partners facilitated the transaction.

LEASE SIGNED: Dedeaux Properties leases 7.4 acre IOS in Inland Empire. Dedeaux Properties has leased out 14457 Slover Avenue in Fontana, California. The property includes a 165,000 SF warehouse and distribution facility. The long-term lease has been valued at more than $11M. Brice Larson, Chuck Belden, Tim Pimentel, and Chris Pimentel with Cushman & Wakefield represented Dedeaux in the transaction. Jon Gorczyca and Mac Hewett with JLL represented the tenant.

LEASE SIGNED: DSP leases 9 acre IOS in Memphis metro area. Dayton Street Partners (DSP) has leased out 10550 and 10600 Marina Drive in Olive Branch, Mississippi. The property includes a 14,302 SF maintenance shop and a 15,435 cross-dock terminal. Nathaniel Weikert with OnPace Partners represented DSP in the transaction, while Bryce Daves with Colliers represented the tenant, Waste Connections.

READ: Ohio plans to add 1,400 new truck parking spaces along highways.

FROM OUR PARTNERS

Click on each photo for more information.

1.53 AC | 16,634 SF Building | 100% Leased by Sunstate Equipment Rentals | 10-Year NNN Lease with 4% Annual Rent Increases | 5.40% Cap Rate

1.88 AC | Almost Completely Concrete Paved | Fenced and Gated | 3 Large Metal Canopies | 2,243 SF Office Building | 3,000 SF Shop Building

1 AC | 750 SF Office | Fully Paved and Fenced | Drainage in Place | Convenient Access to NW 87th Avenue and Okeechobee Road | Perfect for Outdoor Storage

19.3 AC | New Development Stabilized with 8” Gravel Base | Fully Fenced, Automated, Lit, and Securitized | 1,300’ of Frontage on I-35W with Excellent Ingress/Egress and Great Visibility | Close to TX-114, Perot Field Fort Worth Alliance Airport, and BNSF Alliance Intermodal Terminal

2+ AC | True Last-Mile Location | 3-Phase Power | Fenced and Paved | 3 Warehouses Totaling 32,483 SF with 4 Grade-Level Doors, 3 Dock-High Doors, and 18’ Clear Height | Close to Port of Miami, I-95, and SR-112

6.07 AC | Graveled and Fenced with Additional Outdoor Storage Available | 7,700 SF Warehouse with 2,400 2-Story Office and 6,500 SF Warehouse | 22 Dock-High Doors | 1 Drive-in Door with Ramp | Close to Augusta Regional Airport, I-520, and I-20 | Heavy Industrial Zoning