IOSList - August 4, 2023

NEWS ROUNDUP

1. LEASE SIGNED: IOV and Avison Young just leased the above truck terminal on 8.79 acres in Charlotte. Congrats to the IOV team and AY brokers Henry Lobb and Gray Gaines!

2. CLOSING: Triten expands their Atlanta IOS portfolio. Triten just closed and leased 121 Roberts in Fairburn, GA, a fleet maintenance facility on 2.5 acres with Heavy Industrial zoning. Nathaniel Weikert secured the tenant. Cheers all around!

3. From Growth to Grit: Surge Transport files for bankruptcy. Surge Transportation, a digital freight brokerage, has filed for bankruptcy protection and is trying to push through a deal with a financial sponsor. The company faced difficulties despite earning $150 million in gross revenues in 2022.

4. Austin-based startup raises funds for AI yard management. Terminal Industries came out of stealth mode and announced a $17 million seed funding round, led by 8VC and Prologis, to revolutionize yard management systems (YMS) with AI-driven solutions. It is partnered with Ryder and NFI to reshape yard management.

5. Industrial rent growth is projected to hit 5% by year-end. Colliers says: "The heat of demand from occupiers has slowed from the pandemic 'race for space', but there are still headwinds which are going to impact the amount of grade A stock available to occupiers. We forecast that rents will continue to rise this year."

6. LTL carriers are opening new IOS terminals. LTL trucking companies in the US, such as Estes Express Lines and XPO, are opening new terminals and adding doors to existing facilities. What slowdown?

7. Is sentiment in the freight market improving? The Q3 2023 Freight Sentiment Indexes indicate a changing freight market landscape. “The first half of the year, best characterized by a capacity glut that pushed truckload spot rates underwater, has shown signs of bottoming.”

FOR SALE: Colton, CA – 1.38 acre IOS

Address: 345 E M St Colton, CA 92324

Features: 3 groups of parcels totaling 60,000 SF, Opportunity Zone

Close To: I-10 and I-215

Zoning: M-2 Heavy Industrial, potential for truck parking

Info: LINK

Asking Price: $1,300,000

Broker: RE/MAX Commercial at 909-210-3175

FOR SALE: Anaheim, CA - 2.8 acre IOS site

Address: 605 E Commercial St Anaheim, CA 92801

Features: Dual gated ingress & egress, pole sign with CA-91 visibility

Close To: Interstate 91

Building: Office building 2,400 SF, warehouse 10,000 SF, metal building 17,000 SF and spur line rail-served.

Zoning: Industrial

Info: LINK

Broker: Cameron Jones at 714-240-7078 or Brock Smith at 949-338-1292

FOR SALE: Siler City, NC - 38.94 acres IOS development site

Address: 1680 Harold Andrews Road, Siler City, NC 27344

Close To: Interchanges on US Hwy 421 (Future I-685) and US Hwy 64, Wolfspeed and Toyota Battery Plant

Info: LINK

Asking Price: $1,947,000  

Brokers: Moss Withers at 919-576-2501 or Karah Jennings McConnell at 919-817-0705

FOR SALE: Norcross, GA - 2.95 acre storage yard

Address: 5330 Old Norcross Rd, Norcross, GA 30071

Buildings: Building 1 is 128,502 SF and Building 2 is 91,476 SF 

Info: LINK

Brokers: Thomas Wilkinson at 404-348-4945 and Harrison Auerbach at 407-312-1284