IOS Daily - December 17 - Morgan Stanley buys warehouse + IOS in Los Angeles for $211M

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NEWS ROUNDUP

ACQUISITION: Morgan Stanley buys warehouse + IOS in Los Angeles for $211M. Morgan Stanley Investment Management has acquired 5705 West 98th Street in Los Angeles, California. The 19 acre property is adjacent to Los Angeles Intl. Airport and features a 143,060 SF last-mile distribution facility developed by Overton Moore Properties for Amazon. The acquisition was made through funds managed by Morgan Stanley Real Estate Investing. The Morgan Stanley deal team included David Gross.

ACQUISITION: Zenith buys 3-property IOS portfolio in Houston metro area. Zenith has acquired a 3-pack of IOS properties totaling 27 acres in the Houston area. The properties are fully leased and feature 137,000 SF of industrial buildings. Vinh Thai and Peter Cannon led the Zenith deal team. Charlie Strauss and Lance Young with JLL facilitated the transaction. The properties in the portfolio are:

• 10400 Southwest Plaza Drive in Houston

• 6775 Bingle Road in Houston

• 15222 McKaskle Road in Sugar Land

ACQUISITION: Alterra buys 6.92 acre IOS in Orlando metro area. Alterra IOS has acquired 3636 Fudge Road in Apopka, Florida. The property features a 16,000 SF warehouse. Chris White led the Alterra deal team. Cory Kroeger with Kroeger Commercial facilitated the transaction.

ACQUISITION: Realterm buys 3.2 acre IOS on Long Island, NY. Realterm has acquired 1013 Long Island Avenue in Deer Park, New York. The property features a 6,800 SF industrial facility. The Realterm deal team included Nick Dupuis and Stephen Panos.

LEASE SIGNED: Rich Commercial Realty leases 3 acre IOS in Fargo, ND. Rich Commercial Realty (RCR) has facilitated the leasing of 2305 Great Northern Drive in Fargo, North Dakota. The rail-served property includes a 21,500 SF warehouse. Street Jones and Bo Hargrove with RCR, along with Andy Westby with Goldmark Commercial Real Estate Inc., represented the tenant in the transaction.

READ: IOS super-user EquipmentShare files for Nasdaq IPO.

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