IOSList - August 15, 2023 - Drive-ins reborn as truck parking?

NEWS ROUNDUP

1. Industrial construction drops, higher NOIs ahead? Industrial development dropped 40% from 2Q22 to 2Q23. One commenter: “In certain markets definitely, but we are overbuilding in the “Outfield” of DFW. We could have 50m sf+ sitting vacant once deliveries are completed.”

2. CLOSING: Legacy Capital Partners sells IOS dev site in Orlando. Legacy sold the 9.74 acre site with the potential for 300+ trailer drops to buyer Richland Capital Holdings. Colliers represented the seller.

3. The U.S. market records drop to 46.9% in Q2 leases. "If you take '20 to '22 out of the picture, and imagine that in 2019 somebody told you that in 2023, you'd still be talking about the dynamics of a 2019 market, I would be jumping up and down, happy about that.” -Hamid Moghadam, CEO of Prologis. 

4. Amazon plans to expand its same-day delivery network. “More, smaller facilities with more efficient pick-and-pack systems allow Amazon to speed up deliveries. The country is broken into eight interconnected regions, and more than 76% of orders come from within the customer’s region.”

5. ConTrade Holdings plans to convert 100 old drive-in theaters to truck parking. “There were once more than 8,000 drive-in movie theaters in the country, now we have 321. They’re between 14 and 15 acres. They have water, electricity, and they’re zoned properly. I know there are 18 of these sites on Interstate 10 between California and Florida. When we build 100 of these, with 450 spots per facility, we will have only solved about 20% of the problem.” -Frank Sonzala, ConTrade

FOR SALE: Ellenwood, GA – 5.5 acre IOS

Address: 2733 Forest Parkway, Ellenwood, GA 30294

Features: Class A facility, 200+ trailer spots, heavy-duty asphalt paving, fenced perimeter, guard shack, 11’×55’ striping, solar-powered LED lighting

Close To: I-675 and Moreland Ave, with easy accessibility to I-75, I-285, and Hartsfield-Jackson Atlanta International Airport

Buildings: Shop and other buildings can be built-to-suit

Info: LINK

Broker: Stephen Bridges at 404-909-1560

FOR SALE: Alameda St. – 2.1 acre IOS

Address: 9601-9625 S. Alameda St, Los Angeles, CA 90002

Features: Enclosed, paved and lit

Close To: I-105 Freeway Ramps

Buildings: 12,000 SF metal buildings

Zoning: M-2 zoned

Info: LINK

Broker: Mark Whitman at 213-627-0007 Ext 124

FOR SALE: Tucson, AZ – 2.5 acre IOS development site

Address: 4050 W Costco Dr, Tucson, AZ, 85741

Close To: close access to I-10, 17 miles to Tucson International Airport

Zoning: Heavy Industrial

Info: LINK

Broker: Chris Stamets at 602-778-3748, David Uhles at 602 931 4492

FOR SALE: Canyon Country, CA – 0.29 acre contractor yard

Address: 17035 Sierra Hwy at Canyon Country, CA, 91351

Features: electric powered gate, full fencing, four (4) metal storage bins, sewer, gas and water connection.

Close To: Bob Hope Airport

Buildings: 766 SF 2 bed/2 bath single family home on the lot could be used as an office

Zoning: M-1

Info: LINK

Asking Price: $799,000

Broker: Jim Mangassarian at 661-286-8600 x 6697

FOR SALE: Jacksonville, FL – 6.12 acre IOS

Address: 0 Eastport Rd, Jacksonville, FL 32218

Features: 4.10 AC acre uplands, Eastport Rd frontage

Close To: I-95 and I-295, Amazon DJX3, Jacksonville International Airport and Jacksonville Port.

Zoning: Light Industrial, freight/truck terminal, bulk storage yard, and outdoor storage are permitted

Info: LINK

Asking Price: $1,250,000

Broker: Mike Salik at 866-889-0550

FOR SALE: Seattle, Washington – 1 acre IOS development site

Address: 6361 W Marginal Way SW Seattle, Washington 98106

Features: 14,000 SF of existing level land, but with grading work up to 30,000 SF

Zoning: IG2 U/85

Info: LINK

Asking Price: $1,250,000

Broker: Hans Swenson at 425-586-5630

FOR LEASE: Lithonia, GA – 10 acre IOS

Address: 2700 Turner Hill Rd, Lithonia, GA 30058

Features: Class A facility, 400+ trailer spots, heavy-duty asphalt paving, fencing, 11’x55’ striping, coded access gate, solar-powered LED lighting

Close To: Immediate access to I-20 east of Atlanta, onward to the I-285 loop and ATL airport, I-675, and I-75

Buildings: Shop buildings can be built-to-suit

Info: LINK

Broker: Stephen Bridges at 404-909-1560

FOR LEASE: Stockton, CA – 6.57 acre IOS

Address: 2973 Loomis Road, Stockton, CA 95205

Features: 120 striped trailer/truck positions, asphalt, fully fenced, lit, grade-level doors, water, sewer, electricity, three points of ingress/egress

Close To: Hwy 99, I-5, Hwy 120, Hwy 4, I-205, Port of Stockton, BNSF and UP Intermodal Facilities

Buildings: 6,000 SF shop building with eight 14’x16’ drive-thru doors and 18-20’ clear, 1,200 SF storage building with two 14’x12’ roll-up doors, two-story office, one private office, two restrooms

Zoning: I-L Limited Industrial, San Joaquin County

Info: LINK

Brokers: Wes Widmer at 209-598-0331, Mike Goldstein at 925-683-7059, Alex Hoeck at 209-851-1191

FOR LEASE: Las Vegas, NV – 2 acre IOS development site

Address: 13460 Apex Harbor Ln, Las Vegas, NV 89165

Features: Concrete paved, fenced and partitioned

Close To: North Las Vegas Airport & McCarran International Airport

Info: LINK

Broker: Katelyn Kaylor at 702-373-0654