IOS Daily - February 3 - Stewart Development completes $114M IOS project in Houston area

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NEWS ROUNDUP

DEVELOPMENT: Stewart Development completes $114M IOS in Houston area. Stewart Development, in partnership with KDC, has completed a 120 acre IOS project for Volkswagen Group of America. The $114M Port Freeport Facility, which is located off Ryan Nolan Expressway in Freeport, Texas, includes a 74,180 SF facility for Volkswagen and a 80,700 SF facility for Porsche. The Stewart Development team included Brett Barnes.

DISPOSITION: NAI Hiffman sells 4 acre IOS in West Chicago, IL for $4.225M. NAI Hiffman has brokered the sale of 2351 Powis Road in West Chicago, Illinois. The property features 2 industrial buildings encompassing 11,000 SF, as well as a truck scale. Kelly Disser, Michael Freitag, Bill Byrne, and TJ Feeney with NAI Hiffman represented the seller in the transaction.

DISPOSITION: Swartz Co sells 7.98 acre IOS in Atlanta metro area for $2.275M. Swartz Co Commercial Real Estate has facilitated the sale of 5580 Matt Highway in Cumming, Georgia. The property features 4 buildings totaling 37,602 SF and is currently leased to Capital Material Inc. The buyer was Proport LLC. Ryan Swartzberg and Judd Swartzberg with Swartz Co represented the seller in the transaction.

DISPOSITION: Matthews sells 2.44 acre IOS in Reno, NV for $1.82M. Matthews Real Estate Investment Services has brokered the sale of 11600 South Virginia Street in Reno, Nevada. The property features a 6,800 SF industrial building that currently operates as a stone distribution center for SiteOne. Taylor Dintzner, John Stroud, and Erik Manarino with Matthews represented the seller in the transaction.

LEASE SIGNED: CBRE leases 6.5 acres of IOS in San Diego, CA. CBRE has facilitated two 5-year leases for 7150 Siempre Viva Road in the Otay Mesa submarket of San Diego, California. Pallet Storage is now leasing 2.5 acres at a rate of $12,200 per acre ($30,500 per month), while Cheko Auto Storage and Transport is leasing 4 acres at a rate of $10,000 per acre ($40,000 per month). Ramin Salehi with CBRE represented both sides of each transaction.

READ: Rebuilding from the LA fires is likely to boost demand for IOS.

FROM OUR PARTNERS

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2.01 AC | 10,384 SF Office Building (Divisible into 3 Suites) | Possible Warehouse and Light Production Space | 2 Points of Entry | All Utilities to Site

For Sale or Lease | 21.19 AC | 61,410 SF Cross-Dock Facility | Separate 16,080 SF Service Building | 109 (9’x9’) Loading Docks with Levelers | Parking for 187 Trailers

0.31 AC | M-1 Industrial Zoning | Direct Access to I-95 and 826 Expressway via East 25th Street/NW 79th Street | Allowable Uses: Construction, Marine, Automotive, Trailers, Heavy Machinery, and More

6.02 AC | Close to ILM Airport and I-40/I-140 Interchange | Fully-Fenced and Stabilized | Perfect for Heavy Equipment or Container Storage

1.4 AC | Close to I-95 | I1 Zoning (Light Industrial) | Paved, Lit, Fenced

0.26 AC | Close Proximity to I-105 and I-110 | Well-Suited for Contractors, Builders, Automotive Services, Manufacturers, Logistics Companies, Truckers, or Storage Users