IOS Daily - August 7 - Zenith and JP Morgan announce new $700M IOS JV

NEWS ROUNDUP

FUNDRAISING: Zenith/JP Morgan partner on second $700M IOS JV. A previous Zenith/JP Morgan venture was launched in February 2022. Combined, the 2 projects will command a gross asset value of more than $1.5 billion. Zenith IOS’ current portfolio totals about 28 million square feet of industrial outdoor storage space across more than 50 properties in 16 states. The Zenith team is led by Ben Atkins, Daniel Laub, and Alex Olshansky.

ACQUISITION: Alterra buys 2 IOS totaling 22.3 acres in Columbus, OH. Alterra IOS has acquired 2222 New World Drive and 4080 Business Park Drive, 2 IOS properties in Columbus, Ohio. The New World Drive property features 14 acres with 50,238 SF of warehouse space. The acquisition of this property was facilitated by Ascension Advisory. A JLL team facilitated the acquisition of the New World Drive property, an 8.3 acre IOS that includes 20,120 SF of warehouse space. The Alterra deal team was led by Parker Pearson.

LEASE SIGNED: Charles Hawkins leases 4.27 acre ISF in Lebanon, TN. Charles Hawkins Co. has leased out 312 Babb Drive in Lebanon, Tennessee. The property includes a 26,837 SF industrial maintenance facility. The new tenant is Beacon Transport. The Charles Hawkins deal team included Kevin Irwin, Robert Stout, and McNeill Stout. JLL’s Bailey Brandon and Andrew Taguwa assisted in the deal.  

DEVELOPMENT: ARCO delivers 21 acre IOS in FL for Timber Hill. ARCO Design/Build has completed development at 6505 Old Kings Road in Jacksonville, FL. The project is located just east of the I-295 West Beltway. The Timber Hill team is led by Cary Goldman.

PEOPLE MOVES: Josh Neill becomes President and CIO of Outpost. Outpost has named Josh Neill to the roles of President and Chief Investment Officer. Josh previously served as a Managing Director of Keystone National Group and was a founding partner of their RE development team. Email Josh to congratulate him and connect about future IOS deals.

READ: Knight-Swift acquires LTL carrier Dependable Highway Express.

IOS LAND NEEDED!

→ An IOS group is looking for land that meets the following requirements:

Location: Nationwide, 5 minutes to main interstate or 30 minutes to downtown

Size: 4-8 acres, rectangular or efficient shape, approved for gravel (asphalt not required), no rivers, streams, wetlands, or encumbrances

Price: $100k to $250k per useable acre

FOR SALE: Napa, CA - 50.75 acre IOS

Address: 2301 Napa Vallejo Highway, Napa, CA 94558

Features: 2 water wells, electricity, and sewer facility available

Close To: I-80, I-680, Downtown Napa, Napa County Airport

Building: 10 small industrial buildings totaling 45,000 SF, and (1) 2-story office building totaling 15,500 SF

Zoning: I – AC (Industrial with Airport Compatibility Overlay)

Info: LINK

FOR SALE/LEASE: Dundalk, MD - 2.27 acre warehouse + IOS

Address: 8100 Lynhurst Road, Dundalk, MD 21222

Features: Fenced outdoor storage, crane served, heavy power

Close To: I-295, I-95, I-895, I-695, I-97, and BWI Airport

Building: 18,964 SF warehouse with 2,500 SF office and 2 oversized drive-ins

Zoning: ML (Light Manufacturing)

Info: LINK

FOR SALE: Indianapolis, IN - 5.76 acre IOS

Address: 3123 Victoria Street, Indianapolis, IN 46241

Close To: I-70, I-465, Indianapolis Intl. Airport

Zoning: I3 (Medium Industrial)

Info: LINK

FOR LEASE: Nashville, TN - 4.75-16.75 acre IOS

Address: 6401 Centennial Boulevard, Nashville, TN 37209

Features: Newly renovated warehouse, new fencing, gates, lighting, gravel improvements

Close To: Direct access from Centennial Blvd, 1 mile to I-40, 4 miles to I-440, 6 miles to I-65, 8 miles to I-24

Parcels:

Lot 2: 6 acres, 10,000 SF warehouse, 1,000 SF office, 3 drive-in bays (14'x14')

Lot 3: 6 acres, 15,000 SF warehouse, 4,050 SF office, 5 drive-in bays

Lot 4: 4.75 acres, pure outdoor storage

Zoning: IR (Industrial Restrictive)

Info: LINK

FOR LEASE: San Antonio, TX - 6.95 acre cross dock + IOS

Address: 111 Gembler Road, San Antonio, TX 78219

Features: Fully-fenced (+ guard dog), asphalt paved, secured, LED lighting, 150+ trailer parking stalls

Close To: I-35 (less than 1 mile), I-10 (less than 2 miles), Union Pacific Rail Yard, Frost Bank Center

Building: 26,876 SF building including 4,628 SF office, 22,248 SF dock, 69-door cross-dock, concrete dock aprons, separate employee parking area

Zoning: I-2 (Heavy Industrial)

Info: LINK

FOR LEASE: North Haven, CT - 2.5 acre IOS

Address: 60 Dodge Avenue, North Haven, CT 06473

Features: Secured, fully-lit and paved

Close To: I-91 and Tweed-New Haven Airport

Rental Rates: Upon Request

Info: LINK