IOS Daily - February 11 - Catalyst Investment Partners closes 3rd IOS fund at $400M hard cap

NEWS ROUNDUP

FUNDING: Catalyst Investment Partners closes 3rd IOS fund at $400M hard cap. Catalyst Investment Partners has closed its IOS Fund III at its hard cap of $400M — far beyond its initial target of $300M. According to Catalyst, the fund will be used to scale its portfolio to more than 250 IOS properties with more than $1.5B in gross asset value. Incubation Capital Partners served as Catalyst’s placement agent. The Catalyst deal team was led by co-founders Dan Haroun and Max Heiden, who said that the fund’s oversubscription “underscores the growing recognition of IOS as a durable real estate asset class and [Catalyst’s] highly differentiated approach to the sector.”

ACQUISITION: Zenith buys 11-property, 39 AC IOS portfolio in Phoenix. Zenith has acquired an 11-property IOS portfolio in Phoenix’s Sky Harbor Intl. Airport submarket. The portfolio features 280,000 SF of buildings on a total of 39 AC. The Zenith deal team included Vinh Thai and Alex Guider. Chad Solomon with JLL facilitated the transaction.

DISPOSITION: Savills sells 8 AC IOS in Dallas-Ft. Worth Metroplex for $4.92M. Savills has facilitated the sale of 429 West Kennedale Parkway in Kennedale, Texas. The property includes a 32,000 SF industrial building. The buyer was First Fence USA. Patrick Cromwell led the Savills deal team.

ACQUISITION: Open Industrial buys 9.13 AC IOS in Greater Boston metro. Open Industrial has acquired 1465 Main Street in Millis, Massachusetts. The property features 12,000 SF of office/showroom and shop space. Rob Foa, Bradley Sampson, Chad Pitts, and Dan Berger led the Open Industrial deal team. Daniel Waldman with Waldman & Associates represented the seller in the transaction. Matty Drouillard and Stephen Flynn with The Stubblebine Co. represented Open Industrial and are currently marketing the property for lease.

LEASE SIGNED: Colliers leases 2.35 AC IOS in Miami metro area. Colliers has facilitated the leasing of 11100 Northwest 112th Court in Medley, Florida. The low-coverage property features an 11,510 SF maintenance facility. Erin Byers, Lauren Pace, and Frankie Castellanos with Colliers represented the landlord, Seagis Property Group, in the transaction. The Seagis deal team was led by Bradlee Lord and Ronald Marrero.

LISTEN: The PERE Podcast takes on IOS. A deep dive into the IOS market, including Brookfield’s acquisition of Peakstone Realty Trust and an interview with Realterm’s Price Booker.

FROM OUR PARTNERS

For Sale and Lease | 4.25 AC Total | ±2.6 AC of Fenced, Paved, and Lit Yard | 24,837 SF Building with ±5,445 SF Office, 1 Dock Door, and 2 Drive-in Doors | Heavy Power | Union Pacific Rail Spur on Site | Great Access to I-70

For Sale and Lease | 2 AC | Fully Fenced, Gated, and Meticulously Stabilized | Mobile Office on Site | Utilities on Site | Blocks from I-10, Greens Port, and Houston Ship Channel | Rental Rate: $4,200/AC/Mo.

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

±2.5 AC | Fully Fenced and Gated | Heavy Stabilization | Security Lighting | Video Monitored | Utilities on Site | Direct Access off Beltway 8 | Close to Highways 90 and 59, I-45, and I-10

5.5-12 AC | Fully Improved Site | Paved, Lit, and Secured Yard | 1,000 SF Repair Shop and 3,200 SF Shop/Office | Additional Offices on Site Available for Operational Support | Utilities on Site Include Gas, Water, Sewer, and 277/480V 3-Phase Power | Steel Canopies with Power | Excellent Visibility with 785’ of Frontage on Donovan Way and 790’ of Frontage on I-15

1.6 AC of Well-Located Land | 24,109 SF of Industrial Space with 9 Drive-in Doors and 18’ Clear Height | Small Office Space on Site | Located 0.7 Miles from Ramp to I-40 and 2.3 Miles from I-55 On-ramp | Rental Rate: $6/SF/YR (NNN)