IOS Daily - August 13 - Marcus & Millichap sells 9.52 acre IOS in Chicagoland for $17.4M

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NEWS ROUNDUP

DISPOSITION: Marcus & Millichap sells 9.52 acre IOS in Chicagoland for $17.4M. Marcus & Millichap has facilitated the sale of 199 Shepard Avenue in Wheeling, Illinois. The low-coverage property features a 96,712 SF multi-tenant industrial building. The transaction included a partial leaseback with JV Global Services, along with a pending 14,796 SF build-to-suit cold storage facility. Zachary Orzel, Adam Abushagur, and Tyler Sharp with M&M represented the seller in the transaction. Abushagur and Clay Isacson represented the buyer, Prairie Hill Holdings. Frank Montalto and Ethan Splan of M&M’s IPA Capital Markets secured a 5-year $11.4M acquisition loan for the transaction. (Interested in cold storage? Subscribe to Cold Storage List.)

DISPOSITION: Rein & Grossoehme sells 7.49 acre IOS in Phoenix area for $6M. The Sheehan | Schumacher Industrial Team of Rein & Grossoehme has facilitated the sale of 14620 West El Sol in Goodyear, Arizona. The property features a 4,280 SF building. Max Schumacher, Patrick Sheehan, and Jack Hansen represented both the seller and the buyers, IOS Southwest LLC and Open Industrial, in the transaction.

DISPOSITION: Preferred Real Estate Brokers sells 8.75 acre IOS in Plover, WI. Preferred Real Estate Brokers (PRB) has facilitated the sale of 2200 Plover Road in Plover, Wisconsin. The property features a 68,592 SF industrial building and is 100% leased to US LBM. Mark Williams of PRB collaborated with Patrick Doherty of Marcus & Millichap to complete the transaction.

LEASE SIGNED: Warehouse Hotline leases 1.5 acres of IOS in Greeley, CO. Warehouse Hotline has facilitated the leasing of 1.5 acres at 10813 CO-257 Spur in Greeley, Colorado. Aviva Sonenreich and Josh Sonenreich with Warehouse Hotline, along with Dallas Landry of LC Real Estate Group, represented the landlord in the transaction. Bryan Fry with Cushman & Wakefield represented the tenant.

LEASE SIGNED: IG Logistics leases out 1.25 acre IOS in Fort Myers, FL. IG Logistics, Imperium Capital’s industrial platform, has leased out 4720 Laredo Avenue in Fort Myers, Florida, to US Foods. The property features a 5,200 SF truck repair facility. Adam Bornhorst with CBRE facilitated the transaction.

FINANCING: Edgewood originates $4.5M bridge loan for 3 acre IOS in NJ. Edgewood Capital Advisors has originated a $4.5M bridge loan for the acquisition of an IOS property in Hillsborough, New Jersey. The property includes 10,000 SF of warehouse space. The Edgewood deal team included Chris Whittleton, Michael Doherty, and Kyle Savino.

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For Sale and Lease | 28.88 AC Site with ±13 Usable AC | Partially Graveled, Fenced, and Lit | Onsite Utilities | Modular Offices | 10 Minutes from the I-40/I-85 Interchange

10 AC (7.26 Usable AC) | 7,625 SF Building with 6 Oversized Overhead Doors and 33’ Clear Height | 3-Phase Power | 1.76 AC of Existing Water Detention

19.56 AC (9 AC Usable for IOS) | 5 Buildings Totaling 27.910 SF: 13,074 SF of Warehouse Space and 14,836 SF of Office Space | 13 Grade-Level Doors | Close Proximity to Major Highways and Airports

4.81 AC | Rare Deer Valley IOS Site | 18,981 SF Structure with 9 Grade-Level Doors and 2 Drive-Through Bays | Paint Booth | Zoned Light Industrial

3.45 AC | Fully Usable | 2,500 SF Office with AC and Restrooms | Paved Parking | Close to US-41, I-75, and Southwest Florida Intl. Airport | Heavy Industrial Zoning

2.5 AC | Combination of Paved and Aggregate Surface | 6’ Security Fence and Sliding Gate | Small House on Property Historically Used as Office | Close Proximity to I-295 and US-130