IOS Daily - February 9 - Zenith buys Bay Area IOS

NEWS ROUNDUP

ACQUISITION: Zenith buys 3.11 acre IOS in Bay Area. Zenith IOS has purchased 345 Industrial Way in Benicia, California. The site is conveniently located between I-680, I-780, and I-80 and features a 7,400 SF cross-dock terminal. The Colliers team of Mark Maguire, Justin Smutko, Nick Mascheroni, and Paul Boskovich represented the Zenith team of Stephen Barry, William Romano, Alex Olshansky, and Alex Guider.

ACQUISITION: Steel Peak buys 2.5 acre IOS in El Cajon, CA for $6.3M. Steel Peak has acquired 1324 Magnolia Avenue in El Cajon, California, in an all-cash deal for $6.3 million. The 12,000 SF property includes four buildings and is located only 100 yards away from another Steel Peak property that is 100% leased. Blake Rodgers and Pasha Johnson led the Steel Peak deal team. Cameron Czubernat and Kerry Schimpf of Commercial Properties Group brokered the sale.

ACQUISITION: Dalfen buys 2.15 acre IOS in Auburn, WA for $5.2M. Kidder Matthews has sold 214 21st Street SE in Auburn, Washington, to Dalfen Industrial for $5.225 million, or $55.79 per SF of land. The IOS includes roughly 27,000 SF of interior space and a fully-fenced lot. Matt McLennan led the Kidder deal team, while the Dalfen team included John Endres and Rich Weiss.

TRUCK PARKING: Freight Ninja opens 5 new facilities. Freight Ninja has opened five truck parking facilities in Glendale, Arizona; Hammond, Indiana; Memphis, Tennessee (two properties); and Houston, Texas. The facilities in Memphis and Houston are fully-fenced with security gates and 24/7 security monitoring. The Glendale site boasts a security gate, perimeter fencing, and assigned parking. The Hammond facility features electric spots, fuel pump access, and DVR cameras. For leasing information, call 844-303-1501, ext. 1.

FINANCING: Columbia National closes IOS loans in Ohio and Arizona. Kevin Tehan, principal at Columbia National, arranged a $9.275 million Life Co loan for an IOS portfolio in Arizona and Ohio. In a recent LinkedIn post, Kevin called IOS “the latest and greatest asset class to become institutional.”

READ: A spotlight on the Savannah industrial market.

CAMPS BAY POWER PLAY

Lee Sager with Camps Bay is running a series of IOS polls to collect and report data back to the IOSList community. Click on the image below to register your vote on the LinkedIn poll:

FOR SALE: Christiana, TN - 9.8 acre IOS with CarMax lease

Address: 5501 Miller Lane, Christiana, TN 37037

Features: Paved, lit, fenced, fully-leased, interstate access, newly renovated building, top-of-the-line landscaping

Close To: I-24

Buildings: 3,300 SF office

Zoning: EAC (Supports a variety of IOS uses)

Info: LINK

Asking Price: $8,400,000

Lease: 100% leased at $5,000/acre/month ($588,000 NOI)

FOR SALE: Cypress, TX – 1.67 acre low-coverage industrial

Address: 17303 Lewis Drive, Cypress, TX 77433

Features: Fully-fenced, electric gate, well and septic, single phase/250 amp

Buildings: 9,200 SF metal warehouse with 20-16’ clear ceiling height, (3) 12x16’ bay doors, (1) 12x15’ bay door, (1) 12x14’ bay door

Info: LINK

FOR SALE: Apopka, FL - 3.23 acre warehouse + IOS

Address: 1733 Benbow Court, Apopka, FL 32703

Features: 100% leased, national credit tenant, fully-fenced, stabilized, and lit 

Close To: SR 414, I-4, SR 429

Buildings: 13,384 SF grade-level building in great condition

Zoning: Ind-2/Ind-3 (Orange County), permits outdoor storage

Info: LINK

Asking Price: $4,000,000

FOR LEASE: Jacksonville, FL - 4.5 acre truck parking

Address: 3401 Clifford Lane, Jacksonville, FL 32209

Features: Graveled, lit, fenced, gated

Close To: 5 minutes to downtown, 20 minutes to Jaxport

Zoning: IL

Info: LINK

Rental Rates: $175/space/month + tax

FOR LEASE: Mendon, UT – 40 acre IOS

Address: 6000 W Highway 30, Mendon, UT 84325

Features: Large lot for truck parking, yard space, outdoor storage, gravel yard, and fenced

Close To: Hwy 30, I-15, I-84, I-80, Salt Lake City

Zoning:  I (Industrial)

Rental Rates: $1,000/acre/month 

FOR LEASE: Newark, NJ - 0.65 acre IOS

Address: 13-19 Hyatt Avenue, Newark, NJ 07105

Close To: US Highway 1 and 9, I-78, I-95, Newark Liberty International Airport, Holland Tunnel

Zoning: Industrial

Info: LINK

Asking Price: $15,000 per month (NNN)