IOS Daily - February 26 - Alterra buys portfolio of 16 IOS sites from TruGreen for $43M

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ACQUISITION: Alterra buys portfolio of 16 IOS sites from TruGreen for $43M. Alterra IOS has acquired 16 IOS properties in a 25-year NNN sale-leaseback deal with TruGreen. The portfolio totals 34.8 acres with 326,400 SF of warehouse, office, and maintenance shop space. Chris White led the Alterra deal team, while Jon Fink with CBRE represented TruGreen. The properties are:

• Atlanta MSA: 15 North Drive Southeast, Acworth, Georgia

• Boston MSA: 21 Forge Parkway, Franklin, Massachusetts

• Columbus MSA: 4045 Lakeview Crossing, Groveport, Ohio

• Dayton MSA: 800 Center Drive, Vandalia, Ohio

• Denver MSA: 12445 Dumont Way, Littleton, Colorado

• Detroit MSA: 6272 Taylor Drive, Flint, Michigan

• Detroit MSA: 48932 Wixom Tech Drive, Wixom, Michigan

• Grand Rapids MSA: 9077 Portage Industrial Drive, Portage, Michigan

• Greensboro MSA: 4220 Beechwood Drive, Greensboro, North Carolina

• Lancaster MSA: 201 Bucky Drive, Lititz, Pennsylvania

• Kansas City MSA: 8420 Cole Parkway, Lenexa, Kansas

• Lexington MSA: 2269 Danforth Drive, Lexington, Kentucky

• Long Island MSA: 5 Todd Court in Yaphank, New York

• Minneapolis MSA: 4240 Centerville Road, Vadnais Heights, Minnesota

• Tulsa MSA: 2200 North Willow Drive, Broken Arrow, Oklahoma

• Washington D.C. MSA: 18910 Woodfield Road, Gaithersburg, Maryland

DISPOSITION: Panther brokers sale of 7.06 acre IOS in Orlando, FL for $5M. Panther Capital Group has facilitated the sale of 321 Hennis Road in Winter Garden, Florida. The property includes several industrial buildings totaling 79,460 SF. Guillermo De Nicolas and Tallie Washington with Panther represented both sides of the transaction.

ACQUISITION: CBRE brokers sale of 5.2 acre IOS in Ontario for CA$5.439M. CBRE has facilitated the sale of 1377 Commerce Way in Woodstock, Ontario, Canada. The sale price was CA$5,439,000 (about US$3.8M). Ted Peters with CBRE represented the buyer, Equipment Sales and Service Ltd., in the transaction.

DISPOSITION: Gold and Co. sells 2.3 acre IOS in Baltimore for $3.525M. Gold and Company has facilitated the sale of 1400 Cherry Hill Road in Baltimore, Maryland. The property features approximately 10,000 SF of office and maintenance space. The buyer was National Construction. Jim Chivers and Will McCullough with Gold and Co. represented the seller, Criterion Group, and were the only brokers involved in the sale.

LEASE SIGNED: Realterm and CushWake lease 2.38 acre IOS in NYC. Cushman & Wakefield has represented Realterm in the leasing of 4825 Baldwin Street in Bronx, New York. The property includes a 12,000 SF industrial building. The Realterm deal team included Ben Andreycak, Katie Legue, Nick Dupuis, and Marc Pavlovec. The Cushman & Wakefield deal team included Rico T. Murtha, Helen McCarthy Paul, Gurpreet Singh, Gus Weaver, Joseph Hentze Jr., and Amanda Gerhardt.

READ: Peakstone Realty Trust highlights 70% mark-to-market potential in IOS portfolio.

FROM OUR PARTNERS

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3.23 AC | 2 Refurbished Concrete Tilt-up Buildings Totaling 20,871 SF | Rectangular IOS Site | 1.07 AC Long-Term Leased to SC Fuels/Pilot Co. | Close to Junction of I-605 and I-210 | M2 Zoning

For Sale and Lease | 8.59 AC | 27,540 SF Warehouse/Cross-dock Facility | Sizable Concrete and Asphalt Paved Yard with Perimeter Fencing Throughout | Room to Park (15) 53’ Trailers | 3-Phase Power | 20’-22’ Clear Heights

14.5 AC | For Sale and Lease | Divisions Available | 3,500 SF Fleet Repair Facility | Freestanding 1,500 SF Office Building | Fully Paved | Secured and Fenced Lot | Site Lighting | Paved | Drainage | Security Cameras | Built in 2019 | Near Hauppauge Industrial Park and Long Island Expressway

0.55 AC of IOS | Graveled, Fenced, and Gated | Close to I-440, SR-401, and Downtown Raleigh | IX-3 Zoning (Industrial Mixed Use)

4 AC | 5,363 SF Office and 5,500 SF Warehouse With Vehicle Maintenance Bay | Fully Improved, Fenced, Gated, and Lit | Utilities Onsite | I-2 Zoning (Heavy Industrial) | Close to I-35, I-10, and San Antonio Intl. Airport

2 AC | Fenced and Gated Outdoor Property | Convenient Access to I-270 and I-71 | Potential IOS Usage: Truck Storage, Equipment Leasing, and/or Container Storage