IOS Daily - August 4 - J.P. Morgan REIT buys portfolio of IOS assets for $95.2M

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NEWS ROUNDUP

ACQUISITION: JPMREIT buys portfolio of IOS assets for $95.2M. J.P. Morgan Real Estate Income Trust (JPMREIT) has acquired a 16-property IOS portfolio in a sale-leaseback agreement. The IOS assets in the portfolio are located across 7 states: Connecticut, Illinois, New Jersey, New York, Pennsylvania, Washington, and Wisconsin. The JPMREIT deal team included Chad Tredway and Douglas Schwartz.

DISPOSITION: Marcus & Millichap sells 2.91 acre IOS in Prescott, AZ for $4.357M. Marcus & Millichap has facilitated the sale of 6400 Lear Lane in Prescott, Arizona. The property features a newly constructed 10,060 SF warehouse and was designed and developed by Paul Berkner, founder of Arizona Industrial Development LLC. A new 10-year absolute net lease was executed by the tenant. Paul, who is also an advisor with Marcus & Millichap, represented the seller in the transaction. Sev Keshishian, also with Marcus & Millichap, represented the buyer.

DISPOSITION: Lee & Associates sells 4.2 acre IOS in Asheville, NC. Lee & Associates has facilitated the sale of 101 Bruce Road in Asheville, North Carolina. The property features 22,000 SF of building space. Joey Schirripa, Andrew Harrill, and Jordan Skellie with Lee & Associates Greenville / Spartanburg represented both the buyer and the seller in the transaction.

DISPOSITION: Matthews sells 4.18 acre IOS in San Antonio metro area. Matthews Real Estate Investment Services has facilitated the sale of 1200 Schneider in Cibolo, Texas. The property is currently leased to Aggreko Rentals. Ashton Miller and Andrew Wiesemann with Matthews represented the seller in the transaction.

LEASE SIGNED: First Houston Properties leases 6.54 acre IOS In Laredo, TX. First Houston Properties has facilitated the leasing of 1118 Beltway Parkway in Laredo, Texas. The property features a 31,518 SF industrial building. The First Houston deal team included Juan Fraga, James Mashni, Edgar Lee, and Patrick McKiernan.

LEASE SIGNED: Cushman & Wakefield leases 2 acre IOS in Brooklyn, NY. Cushman & Wakefield has facilitated the leasing of 2647 Stillwell Avenue in Brooklyn, New York. The property includes a 1,650 SF industrial building and is owned by Turnbridge Equities. The CushWake deal team included Rico Murtha, Helen McCarthy Paul, Gurpreet Singh, Gus Weaver, Joseph Hentze Jr., Amanda Gerhardt, and Cory Paul. Ryan Nelson and Luke Peterson led the Turnbridge deal team.

FROM OUR PARTNERS

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Investment Sale | 3.749 AC | Fenced and Concrete Paved Yard | 15,000 SF Building with 3,000 SF Office, 10,500 SF Warehouse, 1,500 SF Wash Bay, and (10) 14’x16’ Electric Overhead Doors | 480V 3-Phase 600 Amp Power | 5-Ton Crane (150’ Travel) | Quality Tenant with Long-Term Lease | 3.5% Annual Increases | Zoned Light Industrial | Highway Frontage with Direct Access to NPID and Flato Road

For Sale and Lease | 3.72 AC (2.5 AC Fully Paved) | 50,000 SF Building with 22’ Clear Height, (5) 14’x20’ Drive-in Doors, and Heavy Floor Load Capacity | 0.5 AC of Covered Storage | Immediate Access to Port Liberty Bayonne Container Terminal

13.8 AC | Ideal for Trailer Parking or Outside Storage | Rail Potential | ±400’ of River Frontage with Sea Wall | Visibility from I-90

16.818 AC | 226,000 SF of Covered Storage | 34’ Clear Height | 32 Overhead Cranes (1-25 Tons) | 1,200 Amps 277/480 Volt 3-Phase Power | 13,000 SF Office Building | Close Proximity to I-10E, I-410, and I-35

11.84 AC | Fully Paved and Lit | 256 Trailer Parking Stalls and 11 Auto Parking Stalls | Located on the Centerpoint Intermodal Center Campus | Proximity to Full Interchanges at I-55/Arsenal Road, I-80/I-55, I-80/Houbolt Road, and I-80/IL-53

4.7 AC | Fully Fenced | 27,326 SF Crossdock Truck Terminal with 8,000 SF Office and 3-Bay Shop | Easy Access to US-46 and I-80