IOS Daily - February 7 - Stockbridge and Dedeaux sell 3 property mega portfolio in SoCal

NEWS ROUNDUP

DISPOSITION: JLL arranges sale of 3 Inland Empire IOS properties. JLL repped sellers Stockbridge Capital and Dedeaux Properties in the sale of 446 S. Yucca Avenue in Rialto, and 1066 N. Tippecanoe Ave and 1938 W. 5th Street in San Bernardino. Combined, the portfolio is comprised of 23 acres and offers easy access to I-215. The JLL brokers Mark Detmer, Evan Moran, Chad Solomon, Patrick Wood, and Louis Tomaselli worked on the sale. JLL’s Brian Halpern and Jason Rosin procured financing for the buyer.

ACQUISITION: Ridgecut, Marcus Partners buy 3.63 acre IOS in S. Plainfield, NJ. Ridgecut Road and Marcus Partners have purchased a 3.63 acre low-coverage IOS at 250-260 Mack Place in South Plainfield, New Jersey. The property is located close to I-287. It features two buildings totaling 13,500 SF. The existing tenant will remain in place. Isaac Setton, Bunny Escava, and Richard Ades of KSR brokered the deal.

ACQUISITION: Everwood buys 2.04 acre IOS in DFW. Everwood has acquired 3212 E. Abram Street in Arlington, Texas. The 2.04 acre IOS property is in the heart of the Dallas-Fort Worth metro area and is 100% leased to Budget Truck Rental. The Everwood investment team includes William Peeples and Dean Taylor. Alex Keeton of Stream Realty Partners assisted with the sale.

RE-DEVELOPMENT: IOS in LA trades for $2.7 million to become self-storage. Avison Young has finalized the sale of a 1.41 acre IOS property at 943 N. Marianna Avenue in Los Angeles for $2.68 million. The buyer, Cypress Equity Investments, plans to redevelop the property as a 90,000 SF self-storage facility.

READ: Realterm on the importance of IOS to the supply chain.

FOR SALE: Oakland, CA – 1.71 acre IOS

Address: 966 81st Avenue, Oakland, CA 94621

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

Close To: I-880, Port of Oakland, Airport, Oakland Heavyweight Corridor

Buildings: 2 small trailers

Zoning: CIX-2, Commercial Industrial Mix

Info: LINK

Asking Price: Taking offers, please contact broker

Other Info: Leased through September 2024

FOR SALE: South Bend, IN – 12.52 acre Forward Air Truck Terminal

Address: 24805 US-20, South Bend, IN 46628

Features: Improved with asphalt & concrete, well lit, fenced with automated entry, income upside from renting the vacant 19,000 SF

Lease: Forward Air Inc. occupies 80% of the property, NNN lease with 3 years remaining and two (2) options of five (5) years each, $394,828 in-place NOI

Close To: I-80/90 Toll Road, South Bend International Airport

Buildings: 74,000 SF truck terminal with 40 dock-high doors, 10,160 SF trailer repair facility with 7 drive-in doors

Zoning: I (Industrial District)

Info: LINK

Asking Price: $5,200,000 (7.59% cap rate)

FOR SALE/LEASE: Merced, CA - 40.8 acre IOS

Address: 3058 Beachwood Drive, Merced, CA  95348, USA

Features: 8 warehouse buildings and large improved yard, multiple tenants on short-term leases with potential for significant upside

Close To: Merced-Atwater Expressway, CA Hwy 99, Santa Fe Avenue via Beachwood Drive, Castle Air Force Base

Buildings: 8 buildings ranging from 493 - 26,146 SF

Zoning: M-1 (Light Industrial)

Info: LINK

FOR LEASE: San Bernardino, CA - 16.66 acre truck parking and IOS

Address: 19425 Kendall Drive, San Bernardino, CA 92407

Features: Fully-paved, fenced, lit, & secured yards, new construction, 209 trailer storage positions, and two positions of entry off Kendall Drive

Close To: I-215, I-15

Buildings: Guard shack

Availability: Ready for immediate occupancy

Zoning: Industrial

Info: LINK

FOR LEASE: Jersey City, NJ - 4.2 acre IOS

Address: 65 Duffield Avenue, Jersey City, NJ 07306

Features: Paved, striped, fenced, and lit, class A last mile IOS yard

Close To: US Hwy 9, I-95, I-78 and I-278, NJ Turnpike, Holland Tunnel, NYC, Newark and Elizabeth Ports, and Newark Liberty International Airport

Zoning: Heavy Industrial

Info: LINK

FOR LEASE: Fresno, CA - 9.5 acre IOS and truck parking

Address: East Church Avenue and South Cedar Avenue, Fresno, CA 93725

Features: 3.5 acre compacted graveled lot

Close To: Freeway 99, Fresno Yosemite International Airport

Zoning: M3 (Heavy Industrial)

Info: LINK

Rental rates: $2,500 /acre/month