IOS Daily - February 16 - Voit sells LA IOS for $11M

NEWS ROUNDUP

ACQUISITION: Voit sells 1.1 acre IOS in L.A. for $11 million. Voit RE Services has sold 302 Lakme Avenue in Wilmington, California, for $11,150,000, or $233 per SF. The fully-fenced and paved property is in the overweight corridor and includes a 9,204 SF warehouse with two GL doors. The property offers immediate access to both the Port of Long Beach and the Port of Los Angeles. The buyer was an unnamed owner-user. The Voit deal team included Kevin Fults, Ryan Huguenard, David Fults, John Costa, and Brian McLoughlin.

ACQUISITION: 9606 Capital buys 10.7 acre IOS in Fairburn, GA. 9606 Capital has purchased 7635 Bishop Road in Fairburn, Georgia, a suburb of Atlanta. The IOS property offers easy access to Roosevelt Hwy, I-85, and the CSX Intermodal. The 9606 deal team included Ned Mahic and Alain Iskandar.

ACQUISITION: M&M closes 4.74 acre IOS for $2.9M in Metro Atlanta. The AP Group of Marcus & Millichap represented the seller in the sale of 4179 Vansant Road in Douglasville, Georgia. The property includes a recently renovated 32,800 SF warehouse and 8,100 SF of mezzanine space. The AP Group team of Gerald Robison and Ani Paulson repped both the seller and all-cash buyer.

FUNDRAISING: Florida SBA commits $78 million to Alterra IOS fund. The Florida State Board of Administration (SBA) has committed $78 million to Alterra’s latest fund vehicle. This is the first time the pension fund has invested with Alterra, which is seeking to raise $750 million overall. The Alterra IOS team is led by Leo Addimando, Matthew Pfeiffer, and Jeff Pustizzi.

LEASE SIGNED: IOV leases out 13.6 acre IOS in Dallas. Industrial Outdoor Ventures (IOV) has leased out 3918 Telephone Road in Dallas, Texas. The storage yard includes a 5,203 SF maintenance shop with 3 drive-thru bays, as well as a 3,711 SF office building. The new tenant is Pike Electric. Matt Elliott and Rick Medinis of NAI Robert Lynn represented IOV, while Bo Puckett, Ross Howard, and Chris Schaaf from JLL represented Pike Electric.

READ: Transportation prices rise for the first time in 19 months.

CAMPS BAY POWER PLAY

→ Final reminder to vote! Lee Sager with Camps Bay is running a series of IOS polls to collect and report data back to the IOSList community. The latest topic: Which IOS tenant types are the best? Vote here or click the button below:

FOR SALE: Oakland, CA - 2.7 acre low coverage industrial

Address: 940 81st Avenue, Oakland, CA 94621

Features: Fully-fenced, paved, secured, and gated

Close To: Port of Oakland, Oakland Heavyweight Corridor

Buildings: 37,473 SF industrial building on site

Zoning: CIX-2, Commercial Industrial Mix

Price: Accepting offers

FOR SALE: Cranston, RI – 16.74 acre warehouse + IOS

Address: 20 Goddard Road, Cranston, RI 02920

Features: Master Plan approved, build-to-suit up to 210,000 SF, high barriers to entry market, multiple uses allowed, highway visibility

Close To: 1 mile to I-95 at Exit 14, highway visibility

Zoning: Industrial M-1 (distribution center, trucking terminal, warehousing permitted by right)

Info: LINK

FOR SALE: Phoenix, AZ – 3.2 acre IOS development site with rail access

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

Features: Rail access, utilities close by in street

Close To: I-10, I-17, Phoenix Sky Harbor Airport, BNSF Intermodal facility

Zoning: A-1 City of Phoenix (Light Industrial)

Info: LINK

Asking Price: $2,230,272 or $16 PSF

FOR LEASE: Charlotte, NC – 3.3 acre IOS

Address: 700 Griffith Road, Charlotte, NC 28217

Features: Graveled, fenced, gated, 3 phase power

Close To: I-77, I-85, CLT Airport, Uptown Charlotte

Buildings: 10,500 SF service facility with 1,575 SF office, (5) 14'x12' drive in doors

Zoning: ML-2 (Heavy Industrial)

Rent: Call for details

Info: LINK

FOR LEASE: Commerce, CA – 130,816 SF IOS

Address: 4801-4815 Sheila Street and 4800-4814 E, Washington Boulevard, Commerce, CA 90040

Features: Fenced, lit, secure yard, container stacking, parking available

Close To: Hobart, 710 Freeway

Lease Term: Sublease through 5/31/2025 (longer term possible)

Info: LINK

FOR LEASE: Savannah, GA - 9.6 acre IOS

Address: 1349 and 1361 Dean Forest Road, Savannah, GA 31405

Features: Gravel yard

Close To: I-16, 1-95, GA Ports Authority, Garden City Port Terminal/Port of Savannah and Savannah/Hilton Head International Airport

Buildings: 5,692 SF building with 2,200 SF of office space and 3,492 SF of shop space with additional mezzanine storage, 4 drive-in doors

Zoning: I-L – Light Industrial

Lease Rate: Negotiable

Info: LINK