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- IOS Daily - January 3 - Dayton Street acquires 3 property logistics portfolio
IOS Daily - January 3 - Dayton Street acquires 3 property logistics portfolio
DSP lands IOS in CA, ID, MS. Sledd acquires Richmond IOS. Yellow's second terminal auction. Cali truckers get a break from EV drayage. Six new IOS deals.
Maham Riaz & Matt H
January 03, 2024
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NEWS ROUNDUP
AQUISITION: Dayton Street Partners acquires 3-property logistics portfolio. Details: 1) 12550 and 12590 S Harlan Road in Lathrop, CA consists of 3 truck maintenance facilities totaling 24,768 SF on 15.82 acres. 2) 10550 and 10600 Marina Drive in Olive Branch, MS consists of a 35-door truck terminal and 15,938 SF truck maintenance facility on 9.98 acres. 3) 4125 and 4175 S Eagleson Road in Boise, ID includes a 11,202 SF truck maintenance facility on 4.6 acres. John Zeffery with Lee & Associates repped DSP in the acquisition.
AQUISITION: Sledd Properties acquires low-coverage industrial in Richmond. Sledd is a family-owned real estate investment group based in Richmond. In December, they purchased 4700 Bethlehem Road from Brennan Investment Group. The property contains 171,000 SF of warehouse space on 12 acres and is leased to BlueLinx. Purchase price was $8,792,000. Bo KcKown and Eric Robinson of CW Thalhimer represented both sides of the deal.
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YELLOW: Second bankruptcy auction brings in $83 million. The next batch of Yellow terminals (23 locations) now have new owners. But wait, there’s more! A third batch of 118 leased properties and 46 owned terminals remains to be auctioned. The second and latest auction saw winning bids from six LTL carriers:
CALI EV DRAYAGE TRUCKS: California truckers win (temporarily) against EV drayage regs. The California Air Resources Board (CARB) sent a letter in late December to the California Trucking Association (CTA) saying they would temporarily withdraw the requirement that drayage fleets over $50 million in revenue or 50 vehicles must be zero emission by Jan 1, 2024. Talk about waiting until the last minute. Expect a long legal battle over this EV requirement, with many stakeholders (including California IOS owners) weighing in.
IOS FOR SALE
FOR SALE: St. Louis, MO – 11.96 acre truck terminal, warehouse, IOS
Address: 7400 N Broadway, St. Louis, MO 63147
Close To: I-70, St Louis International Airport, Downtown St. Louis
Buildings: 60,000 SF truck terminal with 86 dock doors, 3 warehouse buildings totaling 37,400 SF with 22 grade level doors
Zoning: J (Industrial) and K (Unrestricted)
Info: LINK
Asking Price: $7,500,000
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 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
IOS FOR LEASE
FOR LEASE: Laredo, TX – 39 acre IOS
Address: 16464 US Highway 83 N, Laredo, TX 78045
Features: Graveled, lit, fenced, gated, landing pads
Close To: I-35
Zoning: OCL (Out of City Limits)
Info: LINK
Rental Rate: $2,000 /acre/month gross
FOR LEASE: Gardena, CA – 4.92 acre IOS
Address: 14800 S Avalon Blvd, Gardena, CA 90248
Features: Fully paved and electric fenced
Close To: 110,105,405 and 91 Freeway, Port of Los Angeles, Los Angeles International Airport and Long Beach-Daugherty Field Airport
Buildings: 10,890 SF warehouse, 4 oversized ground level doors, 5,219 SF office building, and an onsite fuel refilling station
Info: LINK
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
ONE MORE THING
To build another industrial building or keep it as an IOS lot?
This is a situation you will find yourself in as the IOS lot is so valuable and no additional building costs.
— Chris Ramsey | SMB and R.E. (@ChrisRamsey60)
12:52 PM • Dec 29, 2023
The choice is clear, Chris.
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