IOS Daily - December 15 - Open Industrial closes Richmond IOS

NEWS ROUNDUP

ACQUISITION: Open Industrial closes Richmond IOS. Located at 16411 Route 1, South Chesterfield, VA, the property contains a 16,000 SF warehouse on 4.7 acres of I2 land that allows for outdoor storage and warehouse development by-right. The property is close to the $1B Lego manufacturing facility, which is currently under construction and is slated to open in 2025. Elmo Alexander with Open Industrial sourced the deal.

LEASE SIGNED: Lee & Associates secures Denver IOS lease. Kirk Vanino and Matthew Nora landed tenant BCOMM Constructors LLC to lease 30 S Raritan Street in Denver. The site is a 16,421 SF facility on 4.78 acres of IOS, and it is owned by a local Denver landlord.

SOFT LANDING? A lot can happen in 84 days. “The Fed is now projecting Fed Funds to finish next year at 4.60%. If they are wrong by the historical average, Fed Funds will finish next year at 3.06%. In 84 days, the number of FOMC members expecting 3 cuts or more next year has grown from three to eleven. In 84 days, we went from one FOMC member expecting Fed Funds to exceed 6% next year to one FOMC member expecting Fed Funds to be below 4% next year.” -Pensford

YELLOW: XPO buys 3,000 service doors out of Yellow’s terminal auction. XPO’s CEO Mario Harik said the purchase was a once-in-a-generation opportunity to acquire terminals. The acquisition represented 5-10 years of traditional facility growth plans with a single purchase. Total price was $870 million or $290,000 per door.

MORE YELLOW: Who is buying all of Yellow’s truck terminals? Search below:

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FOR SALE: Banning, CA – 8.19 acre IOS

Address: SWC of Lincoln St & 4th St, Banning, CA 92220

Features: Utilities nearby. Corporate neighbors include a 1M SF Skechers warehouse, a 133-door Estes Express terminal, and 14.9 acres recently purchased by Brown Strauss Steel.

Close To: I-10 Freeway visibility and Palm Springs International Airport

Zoning: Industrial Zoned

Info: LINK

Asking Price: $10,702,692

FOR SALE: Phoenix, AZ - 3.2 acres IOS site

Address: 3333 W. Jackson Street, Phoenix, AZ 85009

Zoning: A-1, city of Phoenix

Info: LINK

Asking Price: $16 PSF  

FOR SALE: Missoula, MT – 7 acre warehouse + IOS

Address: 8129 Cowboy Trail, Missoula, MT 59802

Features: Gated, 3 phase power

Close To: Less than one (1) mile to I-90 and Highway 200, Bonner West Log Yard TEDD (Targeted Economic Development District)

Buildings: 38,617 SF building with 3,300 SF of office, 3 phase power (2000A 480Y/227V), 43' clear height, four (4) 30-ton cranes with two (2) 15-ton hoists, two (2) 30'x30' rolling doors, two (2) 20'x20' rolling doors, well, septic and fire flow suppression via hydrant

Zoning: Industrial Center Heavy - Missoula County

Info: LINK

Asking Price: $6,000,000

FOR LEASE: Fort Worth, TX – 1.28 acre low coverage industrial

Address: 9733 South Freeway, Fort Worth, TX 76140

Features: Paved, lit, fenced, gated, utilities onsite, renovated office and warehouse, newly installed 60 mil TPO roof

Close To: On I-35 W Frontage and close to I-20

Buildings: 16,060 SF warehouse with 5,329 sf office, 3 grade-level doors, 1 semi-dock door

Zoning: I (Light Industrial) 

Info: LINK

Rental Rate: $1.20/SF/month NNN

FOR LEASE: Phoenix – 10,000 SF Warehouse + IOS

Address: 24348 N 11th Ave, Phoenix 85085

Features: Fenced and gated, laydown yard, outdoor storage, landscaping, vehicle storage, commercial parking, equipment storage

Close To: NWC 11th Ave and Alameda Road, near TSMC Chip Plant and Deer Valley Airport

Buildings: 10,000 SF Warehouse with covered truck parking

Zoning: L-2

Info: LINK

FOR LEASE: Dallas, TX – 4.16 acre IOS

Address: 4927 Beeman Ave, Dallas, TX 75223

Features: Rail spur, warehouse structures

Close To: I-30

Info: LINK