IOS Daily - April 1 - Hartung buys MN IOS for $6.75M

NEWS ROUNDUP

ACQUISITION: Hartung buys 7.8 acre IOS in Fridley, MN for $6.75M. Hartung Enterprises has purchased 30 81st Avenue N.E. in Fridley, Minnesota. The 7.83 acre IOS includes a 1,200 SF warehouse. The sale price was $6.75 million. Carlson Park Properties was the seller and was represented by Brent Masica and Danny McNamara of Cushman & Wakefield.

DISPOSITION: Centurion sells 6 acre IOS in Charlotte, NC, for $7.14M. Centurion Realty has sold 201 Forsyth Hall Drive in Charlotte, North Carolina. The 6 acre IOS property includes a 14,058 SF warehouse. The purchase price was $7.14 million. The Centurion deal team was led by Saul Tawil. The buyer was Ryder Truck.

ACQUISITION: Lee & Associates sells 16 acres in Asheville, NC. Lee & Associates. The lot is located at the corner of Brickton Drive and County Road 1536 in Asheville, North Carolina. The site will be developed into a fully-fenced and paved IOS property with options for a build-to-suit warehouse. The Lee deal team included Jordan Skellie, Elledge Willis, Eric Scardo, and Jeremy McPeters.

LEASE SIGNED: Zenith leases 4.6 acres of IOS in Pacific, WA. Zenith has leased 1025 and 1050 Butte Avenue S.E. in Pacific, Washington to Boxwheel Trailer Leasing. The leases bring Zenith’s Butte Avenue site to 100% occupancy. The Zenith team included Alex Guider. Jeff and Jack Crane of The Andover Company executed the leases. Bruce Goldstein of NAI Puget Sound Properties and Matt Murray of Kidder Matthews assisted with the leases.

READ: How “ugly duckling” IOS defies downward industrial trends. “I think people pushed rents too high, thinking that this Covid world or the Covid environment was going to continue and the freight markets were going to continue at the pace they were at for the last couple of years.” -Howard Wedren, Dayton Street Partners

READ: Buiding out EV truck infrastructure will cost a cool $1T.

FOR SALE: Cleveland, OH - 4.62 acre warehouse + IOS

Address: 8001 Old Granger Road, Cleveland, OH 44125

Features: Paved, fenced, gated, 10 year lease with United Rentals

Close To: I-480, I-271, less than 15 minutes to Downtown Cleveland

Buildings: 8,882 SF warehouse/office building

Zoning: Industrial (outdoor storage permitted by right)

Asking Price: $2,950,000

Lease: $15,935/month NNN, 2% escalations, 10 years remaining, corporate guarantee

Info: LINK

FOR SALE: Carnesville, GA and Maiden, NC - 169 acre IOS portfolio at 6.5% cap

Address: 774 Hwy 320 & 480 New Bethel Rd, Carnesville, GA 3978 and South NC Hwy 16, Maiden, NC 28650

Buildings: Five (5) warehouses/offices featuring clear heights of 8' - 20' and a total of fourteen (14) vehicle lifts, fifteen (15) drive-in doors, twelve (12) dock doors, and an elevator. Coverage less than 4%.

Lease: $347,502 NN NOI from tenant Road Tested Parts, 2% bumps, 5 years remaining after close of escrow

Asking Price: $5,346,185

Info: LINK

FOR SALE: Fort Worth, TX - 4.5 acre IOS

Address: 4801 Parker Henderson Road, Fort Worth, TX 76119

Features: Heavy power, utilities

Close To: US-287 and I-820 intersection

Building: 3 existing buildings totaling 30,000 SF

Zoning: M2 (Heavy Industrial)

Info: LINK

Asking Price: $1,804,000

FOR LEASE: Memphis, TN – 72 acre truck parking

Address: 4800 Malone Road, Memphis, TN 38118

Features: Stone yard, high security shipping container wall surrounds property, lighting, 24/7/365 security team, security cameras, daily transaction reporting

Close To: BNSF Railway, I-40, I-55, I-78

Buildings: On-site storage, on-site office space, 50,000 SF warehouse available

Zoning: LI

Rental Rates: $3,500/acre/month NNN or $200/parking space/month

Info: LINK

FOR LEASE: Linden, NJ - 1.62 acre IOS

Address: 401 Commerce Road, Linden, NJ 07036

Features: Fenced, lit

Close To: Routes 1 and 9, NJ Turnpike

Building: 5,563SF total building size with 16’ clear ceiling height, 4 drive-in doors (3 doors at 12' wide x 14' high and 1 door at 12' x 12')

Zoning: Industrial

Info: LINK

FOR LEASE: Winston Salem, NC – 10 acre truck parking

Address: 3105 N. Glenn Avenue, Winston Salem, NC 27105

Features: Paved, fenced, gated, safety facility

Close To: I-40, I-74, I-73, I-85

Zoning: LI

Rental Rates: $2,500/acre/month

Info: LINK