IOS Daily - July 31 - Stonemont/Cerberus receive $38M for Staten Island project

NEWS ROUNDUP

DEVELOPMENT: Stonemont/Cerberus JV to develop 6.4 acre IOS in Staten Island, NY. A joint venture between Stonemont Financial Group and Cerberus Capital Management has received a $37.7 million loan from BridgeInvest to redevelop 2577 Forest Avenue in Staten Island’s North Shore neighborhood. The site, currently a self-storage facility, will be redeveloped into a 6.4 acre IOS property with a 10,000 SF building. The development team is led by Stonemont’s Zack Markwell and Cerberus’s Tom Wagner.

ACQUISITION: Hight Knox Properties buys 7.1 acre IOS in Tampa, FL. Hight Knox Properties has acquired 2062 20th Avenue Southeast in Largo, Florida, a suburb of Tampa. The property includes 3 buildings for a total of 45,000 SF. For leasing inquiries, contact Brad Hutton and David Hovis of Franklin Street and tell ‘em IOSList sent ya!

ACQUISITION: IE Corp buys 2.29 acre property in Denver, CO for $4.1M. IE Corp has purchased 6245 Clermont Street in Commerce City, Colorado, a Denver suburb. The property features several buildings totaling 13,595 SF of industrial space. Kirk Vanino and Matt Nora of Lee & Associates represented IE Corp in the deal.

DISPOSITION: Transwestern brokers sale of 7.1 acre IOS in Hudson, WI. Transwestern RE Services represented the seller, Rajean LLC, in the sale of 2310 O’Neil Road in Hudson, Wisconsin. The Transwestern deal team included Chris Weirens. The buyer was Interstate Development.

READ: Port of Long Beach breaks ground on $1.6B rail support facility.

READ: Minnesota township welcomes IOS development.

FROM OUR PARTNERS

FOR SALE: El Monte, CA - 2.17 acre IOS

Address: 4420 Baldwin Avenue, El Monte, CA 91731

Features: Service facility, truck, and trailer storage yard

Building: 16,175 SF office/warehouse

Zoning: EMM2 (Manufacturing)

Info: LINK

FOR SALE: Allentown, PA - 5.02 acre IOS

Address: 183 Sumner Avenue, Allentown, PA 18102

Close To: Route 22, I-78, and Lehigh Valley Intl. Airport

Zoning: B/LI (Business/Light Industrial)

Asking Price: $1,500,000

Info: LINK

FOR SALE: Grass Valley, CA – 66 acre IOS

Address: 12503-12791 Brunswick Road, Grass Valley, CA 95945

Features: Power and water utility available

Close To: Highway 174 and Nevada County Airport

Zoning: M1-SP (Light Industrial)

Asking Price: $50,000/acre

Info: LINK

FOR LEASE: Saddle Brook, NJ – 4 acre warehouse + IOS

Address: 147 North 5th Street, Saddle Brook, NJ 07663

Features: Fenced, graveled, and can be paved per request

Close To: I-80, 10 miles to NYC, 21 miles to Port Newark

Building: 10,500 SF auto-body shop and 22,000 SF warehouse

Zoning: I - Industrial

Info: LINK

FOR LEASE: Jersey City, NJ - 4.2 acre IOS

Address: 65 Duffield Avenue, Jersey City, NJ 07306

Features: Fenced, paved, striped, and lit

Close To: Route 9, Port Newark, Port Elizabeth, and Newark Liberty Intl. Airport

Zoning: Heavy Industrial

Info: LINK

FOR LEASE: Lexington, SC - 4.65 acre IOS

Address: 251 Laurel Road, Lexington, SC 29073

Features: Fenced

Close To: I-20, I-26 and Columbia Metropolitan Airport

Zoning: Intensive Development (ID)

Rental Rate: $1,500/acre/month

Info: LINK