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- IOS Daily - December 4 - IOS with Amazon lease grabs $20M refi
IOS Daily - December 4 - IOS with Amazon lease grabs $20M refi
Bandon Capital arranges $20M refi. Harbor-Evergen buy LA IOS for $7.3M per acre. Stonelake closes $746M fund. Ned Mahic interviewed. Six new IOS deals.
Maham Riaz & Matt H
December 04, 2023
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NEWS ROUNDUP
FINANCING: Amazon-leased IOS lands a $20 million refi. The owners of 4350 Temple City Blvd in El Monte, CA just secured a $20 million refinancing. The 7-acre Amazon-leased property with outdoor storage space and a 27,350 SF industrial building is across the street from one of Amazon’s distribution facilities. Bryan Kenny with Bandon Capital Advisors secured the loan. Records show the underlying lender was Standard Insurance Company and the owner is FB Logistics & Storage.
ACQUISITION: Harbor and Evergen buy LA industrial site for IOS. Harbor Associates and Evergen Equity acquired four adjacent properties for $55 million ($7.3 million per acre) at 690-760 West 190th Street in Gardena, CA. The deal team included Troy Marcus of Evergen and Rich McEvoy and Paul Miszkowicz with Harbor. CBRE brokers Eric Cox, Barbara Perrier, and Darla Longo advised the seller.
FUNDRAISING: Stonelake Capital Partners closed a $746 industrial fund. Stonelake Opportunity Partners VII LP will target warehouses in Sunbelt states. Stonelake’s fundraising team included Ben Harper, Claire Wiggins, Cal Spangler, and John Bryant. “90% of our existing limited partners from Stonelake VI committed to Stonelake VII, representing [about] 70% of the fund's commitments.” -Kenneth Aboussie, Stonelake managing partner
READ: Ned Mahic with 9606 Capital is interviewed on IOS strategy. “Aggregation holds a premium. It's one of the last remnants of alpha, primarily due to the small average transaction size.”
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IOS SPACE NEEDED
Location: Cincinnati or Northern Kentucky
Size: 3-5 acres
Building: 5,000 to 7,500 SF building with at least two 16’ doors and 20’ ceiling height on 3-5 acres.
Use: Tractor trailer service and truck parking
Transaction: Lease or purchase
Contact: Patrick Sullivan at 404-202-2261
IOS FOR SALE
FOR SALE: Glendale, AZ – 39.5 acre IOS
Address: 11748 W. Glendale Ave, Glendale, AZ 85307
Features: Large heavy industrial site with multiple short leases in place
Close To: Loop 101, 5 minutes from Arizona Cardinals Stadium
Zoning: M2 City of Glendale Heavy Industrial
Info: LINK
Asking Price: $14,800,000
Brokers: Nick DePaul at 480-414-3818 or Chad Kirkorksy at 480-330-2824 or Preston Brimhall at 602-619-9350
FOR SALE: Channelview, TX - 4.81 acre warehouse + IOS
Address: 15221 Market St, Channelview, TX 77530
Features: Sale-leaseback, paved site, extensive renovations to building on site, fenced, 3 phase power
Close To: I-10, Beltway 8, Port of Houston
Buildings: 44,000 SF warehouse space with 12,248 SF of office, 4 dock doors, 3 drive-thru doors
Info: LINK
Asking Price: $8,999,680
Brokers: Murphy Sloan at 972-636-5231 or Andrew Wiesemann at 318-267-1074
FOR SALE: Evansville, IN – 4.72 acre warehouse + IOS
Address: 2125 Glenview Dr Evansville, IN 47720
Features: Paved, graveled, lit, fenced gated, 3-phase, utilities, 15 total rollup doors, 265 trailer stalls
Close To: Ohio valley intermodal rail
Buildings: 22,415 total SF buildings, 15 total rollup doors
Zoning: Industrial
Info: LINK
Asking Price: $2,844,511
Brokers: Ashton Miller at 214-802-7299 or Andrew Wiesemann at 318-267-1074
IOS FOR LEASE
FOR LEASE: Tracy, CA – 10.35 acre IOS
Address: 5051 Promontory Parkway, Tracy, CA 95377
Features: Paved, lit, fenced and secured, landscaped perimeter
Close To: I-5, I-205, I-580, Port of Oakland, BNSF & UP intermodal facilities, EastBay/Bay Area/Central Valley
Zoning: BPI (Business Park Industrial)
Info: LINK
Brokers: Mike Goldstein, SIOR at 209-475-5106 or Greig Lagomarsino, SIOR at 510-433-5809 or Ryan McShane, SIOR at 209-483-9851
FOR LEASE: Locust Grove, GA – 3.14 acre warehouse + IOS
Address: 130 Pine Grove Rd, Locust Grove, GA 30248
Features: Fenced, asphalt, graveled, 3 phase power, lighted lot
Close To: 1.5 miles to I-75, 50 million SF of distribution space within 10 minutes
Buildings: 15,000 SF, 3 grade-level doors (2-18’ wid), recently renovated
Zoning: M-1, outside storage permitted
Info: LINK
Broker: Bryan Marshburn, SIOR, CCIM at 239-908-7160
FOR LEASE: Orlando, FL – 5.2 acre IOS
Address: 11622 Boggy Creek Road, Orlando, FL 32824
Features: 100% stabilized, fenced, and lit
Close To: SR 417, SR 528, I-4, Florida Turnpike and Orlando International Airport
Buildings: 1,920 SF office and 800 SF office/potential conversion to shop
Zoning: Ind-1/Ind-5 (Orange County, allows outdoor storage by right including equipment rent, truck parking, and contractors offices)
Info: LINK
Rental Rate: $39,000/month NNN
Broker: Derek Riggleman at 321-281-8507
ONE MORE THING
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