IOS Daily - December 10 - Corepoint sells 5 acre IOS in Middlesex, NJ for $13.61M

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DISPOSITION: Corepoint sells 5 acre IOS in Middlesex, NJ for $13.61M. Corepoint Real Estate has facilitated the sale of 166 Baekeland Avenue in Middlesex, New Jersey. The property features a 6,600 SF industrial service facility. The buyer was Open Industrial, and the seller was New Vernon Equities. Joshua Shmuel and Marc Smouha led the Corepoint deal team in the off-market transaction.

DISPOSITION: Northmarq sells 0.5 acre IOS in NYC metro area for $8.3M. Northmarq has facilitated the sale of 2901 North Dell Avenue and 2901 Tonnelle Avenue in North Bergen, New Jersey. The low-coverage property features a 13,000 SF industrial facility. The buyer was Penske Truck Leasing. Joel Cukier with Northmarq represented the seller, Sixteen Broadway Corp., in the transaction.

DISPOSITION: Bento Property Group sells 5 acre IOS in Houston. Bento Property Group has facilitated the sale of 1818 Allen Genoa Road in Houston, Texas. The buyer was Cartage Capital, led by Steffen van Doesburg. Steven Bentolila and Simon Bentolila with Bento Property Group represented the seller in the transaction. Josh Adams with NTX Funds represented the buyer.

DISPOSITION: Virtue Real Estate Partners sells 2.58 acre IOS in DFW metroplex. Virtue Real Estate Partners has facilitated the sale of 408 North Great Southwest Parkway in Arlington, Texas. The property features a 7,154 SF service facility. The buyer was Bleecker Partners, led by Ben Siegel. Luke Hoyl and Alex Hoyl led the Virtue deal team in the off-market transaction.

ACQUISITION: Greenspring Realty Partners buys 2.19 acre IOS in Tampa. Greenspring Realty Partners (GRP) has acquired 1900-1922 Tampa East Boulevard in Tampa, Florida. The property includes a 3,600 SF industrial building, with the ability to construct an additional 11,000 SF building on the site. GRP is currently marketing the property for lease. Daniel Flamholz led the GRP deal team.

LEASE SIGNED: Boutique National leases 5.27 acre IOS in South Tampa area. Boutique National (Bounat) has facilitated the leasing of 7001 Gibsonton Drive in Gibsonton, Florida. The property features 19,000 SF of industrial improvements. Mike Farley with Bounat represented the landlord in the transaction. Randy Iaboni with Iaboni Real Estate represented the new tenant, an innovative energy company.

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1.66 AC | 905 SF Office | Security Fence with Lighting | 7.00% Cap Rate | NNN Lease in Place with Annual Rent Increases | 0.5 Miles from Hwy 512, 4 Miles from I-5, 7 Miles from Port of Tacoma, 9 Miles from Hwy 167, 20 Miles from Seattle/Tacoma Airport | Rare Industrial Zoning; Grandfathered in for Gravel Outdoor Storage Use

3.22 AC | 8,620 SF Building + Wash Bay | 100% Leased | Fully-Fenced Yard | New Construction | Excellent Highway Accessibility

For Sale and Lease | 5.78 AC | 5,000 SF Standalone Shop and 23,000 SF Warehouse with 5,000 SF Office, 5,000 SF Showroom, 13,000 SF Shop, and Additional 1,200 SF Mezzanine | 3-Phase Power | Paved | 600’ of Highway Frontage | 2-Sided Billboard | 3 Drive-Through Bays | Great Access | Great Location

5.5 AC | Rare Heavy Zoned IOS | Fully Fenced and Gated Lot | Lighting Throughout Lot | Opportunity to Expand Fencing to Include Additional Acre | 2 Buildings: 1,100 SF Office and 1,750 SF Warehouse | Utilities on Site | Close to CA-126 and Santa Paula Airport

2.5 AC Available | Heavy Stabilization | Fully Fenced with Secure Access Gate | Security Lighting and Video Monitoring | Utilities on Site | Direct Access to Beltway 8 and Easy Access to Highway 90, Highway 59, I-45, and I-10 | 14.5 Miles from the Port of Houston | Professionally Managed

9.1 AC | Partially Paved with Millings | Dolly Pads | Power On-Site | Close to NJ Turnpike, I-95, I-78, Port Newark, Port Bayonne, and Newark Liberty Intl. Airport