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- IOS Daily - April 12 - Catalyst closes IOS Fund II at $187M
IOS Daily - April 12 - Catalyst closes IOS Fund II at $187M
Catalyst closes IOS fund. Newmark Title closes $248M deal. Asterra sells Austin IOS. Apricus buys Houston IOS. Freight Ninja opens Texas location. Greenbacker hires acquisitions head Six new IOS deals.
Katherine Peach, Maham Riaz & Matt H
April 12, 2024
Good morning. This is IOSList, the dashboard for your IOS road trip.
Editor’s Note - in our last issue, we incorrectly reported an acquisition story by switching up the broker and buyer. It was Triten who purchased the 5.6 acre IOS in Tampa, and Panther Capital Group was the broker. Read here for a corrected version.
Now, let’s get to it.
NEWS ROUNDUP
FUNDRAISING: Catalyst closes second IOS fund at $187M. Catalyst Investment Partners has closed its IOS Fund II at $186.9 million — well above the target of $150 million. The fund is focused on IOS investments on the East Coast and will allow Catalyst to build a portfolio worth more than $500 million in gross assets. The Catalyst team is led by co-founders Dan Haroun and Max Heiden.
ACQUISITION: Newmark Title closes multistate truck facility transaction for $248M. Newmark Title Services has closed a multistate transaction involving 24 properties in 16 states. The properties are all industrial trucking facilities. Newmark’s client in the transaction was Estes Express Lines. The Newmark Title team includes Doug Atkins, Marc Israel, and Alon Steiner.
ACQUISITION: Asterra sells 5 acre IOS in Austin, TX. Asterra Properties sold 9511 Brown Lane in Austin, Texas. The 4.98 acre IOS property includes a 12,000 SF warehouse with 3 drive-in doors. Sarah Lazarus of All City Real Estate assisted in the sale. The Asterra deal team included Tami Greenberg, Ryan Perry, and Riley Perry.
ACQUISITION: Apricus-ABR JV buys 8 acre IOS in Houston, TX. Apricus Realty Capital has acquired 9987 Wallisville Road in Houston, Texas, through a programmatic joint venture with ABR Capital Partners. The 7.98 acre IOS property includes a 900 SF warehouse and a 2,000 SF office building. The Apricus deal team included Matt Haley, Garrett Marler, and Cort Martin.
TRUCK PARKING: Freight Ninja to open new Pasadena, TX location in May. The new truck parking facility is located at 6110 Red Bluff Road in Pasadena, TX. The fully-fenced and secured property features 180 stalls and easy access to major highways. For leasing inquiries, call 844-303-1505 and tell ‘em IOSList sent ya!
PEOPLE MOVES: Greenbacker hires new Head of RE Acquisitions. Greenbacker Capital Management has hired Evan Sherman to serve as Head of Real Estate Acquisitions. The firm also added Mandy Yang as AVP of Aquisitions. Greenbacker’s real estate strategy focuses on acquiring, electrifying, and leasing IOS real estate to companies that can benefit from EV fleet charging, solar power, and battery energy storage.
UPCOMING IOS CONFERENCE!
IMN is hosting an IOS conference in Long Beach, CA on September 5. They are currently finalizing the agenda and panels. If you want to participate or learn about sponsorship opportunities, please reach out to Nicole Rupersburg.
IOS FOR SALE
FOR SALE: Melbourne, FL - 17.26 acre IOS + truck parking
Address: 5075 W. Eau Gallie Boulevard, Melbourne, FL 32934
Features: Possible 320 parking spaces, power, water, and waste management utilities available
Close To: I-95, Port Canaveral, and Melbourne Orlando Intl. Airport
Zoning: IU (light industrial)
Info: LINK
FOR SALE: Santa Teresa, NM – 3 acre IOS
Address: 4801 Avenida Creel, Santa Teresa, NM 88008
Features: Ponding at site, rear rail spur available
Zoning: Industrial
Asking Price: $600,000
Info: LINK
FOR SALE: Palmetto, GA – 3 acre heavy industrial land
Address: 0 Gullatt Road, Palmetto, GA 30268
Features: Level, currently wooded
Close To: I-85, Hwy 29, Hwy 74 N., Hartsfield-Jackson Atlanta Intl. Airport
Zoning: I3 (heavy industrial)
Asking Price: $579,900
Info: LINK
IOS FOR LEASE
FOR LEASE: Windsor, CA - 2.32 acre IOS
Address: 5900 Pruitt Avenue, Windsor, CA 95492
Features: Paved, fenced, security lighting, multiple access gates
Close To: Hwy 101, Sonoma County Airport
Zoning: Industrial
Rental Rates: $3.42/SF/year
Info: LINK
FOR LEASE: Winston-Salem, NC - warehouse + IOS on 8 acres
Address: 1664 S. MLK Drive, Winston-Salem, NC 27107
Features: 5 paved acres, under renovation
Close To: Hwy 421, I-40, and Downtown Winston-Salem
Buildings: 80,000 SF warehouse with dock and drive-in doors, 16’ to 24’ clear
Zoning: Heavy Industrial
Rental Rates: Call for pricing
Info: LINK
FOR LEASE: Cicero, IL - 4-8 acre IOS
Address: 4700 Ogden Avenue, Cicero, IL 60804
Features: Site served by Manufacturers Junction Railway
Close To: Chicago Midway Intl. Airport
Rental Rates: Upon Request
Info: LINK
ONE MORE THING
"We're gonna let WeWork exclude SG&A from EBITDA?"
"It's an add-back for them"
"How is it an add-back?"
"Jerry all these big companies they add-back everything"
"You don't even know what an add-back is"
"Do you?"
"No"
"But they do. And they're the ones adding it back"
— Inglourious Capital (@inglouriouscap)
Apr 5, 2024
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