IOS Daily - January 31 - R&G sells Phoenix IOS for $4.5 million

NEWS ROUNDUP

DISPOSITION: R&G sells IOS in Phoenix, AZ, for $4.5 million. R&G sold a 3.86 acre IOS property at 1325 East Elwood Street in Phoenix. The property features two shop buildings and a total of 11,500 SF of interior space. The price was $4.5 million ($1.17 million per acre). The R&G deal team included Max Schumacher, Jack Hansen, and Patrick Sheehan.

ACQUISITION: Sagard pays $7.325 million for Nashville metro truck terminal. Sagard acquired 135 Maddox Road in Mt. Juliet, TN. The property consists of 7.6 acres, including a 50,252 SF IOS truck terminal facility. The tenant, Roadrunner Transportation Services, has 4.6 years left on the lease with a 5-year renewal option. The leadership team at Sagard Real Estate includes Head of Acquisitions Mark Bigarel. David Warren, Charles Fteha, and Bunny Escava from KSR brokered the deal.

ACQUISITION: Realterm acquires 11.7 acre IOS in Verona, Italy. The property is located in the city’s Interporto district, the main logistics and shipping hub for Northern Italy with easy access to major European transportation corridors. The Realterm deal team included Hugues Tallandier and Alberto Radice Fossati. Savills brokered the sale.

LEASE SIGNED: JLL leases industrial with IOS in Baltimore, MD. The JLL Baltimore Industrial Team, which includes Ben Meisels, Ryan Burrows, Rob Maddux, and Jeff Flynn, has leased a hybrid industrial-IOS property at 103 Chesapeake Park Plaza in Middle River, a suburb of Baltimore. The site has 111,858 SF of industrial space with 5.75 acres of IOS.

READ: USDOT awards $292 million to four truck parking projects across the country. The grants include $180 million to create 900 spaces in Florida (yes, $200k per parking space).

FOR SALE/LEASE: Meridian, ID - 11.7 acre IOS

Address: 7870 South Meridian Road, Meridian, ID 83642

Features: Level site, partially graveled yard, paved parking lot, access from Hwy 69 and Columbia Road

Close To: I-84, I-184, Boise, Meridian, Boise Airport, adjacent to Northwest Lineman College

Buildings: 3,100 SF accessory storage shed and a 2,200 SF home converted to commercial use

Zoning: C1 (Commercial), approved for IOS use

Asking Price: $4,950,000

Rental Rate: $3,000/acre/month NNN

FOR SALE/LEASE: Hyde Park, UT - 1.5 acre IOS

Address: 745 West Center Street, Hyde Park, UT 84318

Features: Level lot, gravel, can be fenced

Close To: I-15, I-84, and Salt Lake City

Zoning: C (Commercial, Light Industrial)

Asking Price: $650,000

Rental Rate: $3,500/acre/month NNN

FOR SALE: Santa Fe Springs, CA - 1.02 acre IOS

Address: 12731 Los Nietos Road, Santa Fe Springs, CA 90670

Features: 2 concrete block buildings, 150 feet of road frontage, 100% leased through June 2029

Close To: I-5, I-605, Ports of Los Angeles and Long Beach

Buildings: 2 buildings for a total of approximately 5,000 SF

Zoning: M-2 (Heavy Industrial)

Tenant: NR Development Inc, leases through June 2029

Price: $3,600,000 (6.3% cap rate)

Info: LINK

FOR LEASE: Kansas City, KS - 10-26 acre IOS

Address: 11 South 59th Street, Kansas City, KS 66102

Features: Excellent highway access, fenced, gated, graveled with asphalt milling overlay, onsite utilities, security lighting, 3 phase power

Close To: I-70, I-435, I-635, I-35, and Union Pacific and BNSF intermodals

Buildings: Approved for 24×60 modular office buildings; option to build-to-suit

Zoning: M-3 (Heavy Industrial)

Rent: $2,450/month/acre (includes base year taxes)

Info: LINK

FOR LEASE: Long Beach, CA – 4.26 acre IOS

Address: 1660 East 32nd Street, Long Beach, CA 90807

Features: Fully fenced and graveled lot, great signage visibility

Close To: I-405, I-710, SR-22, Ports of Long Beach and Los Angeles

Buildings: One 240 SF building

Zoning: IG (General Industrial)

Info: LINK

Rental Rate: $1 /square foot/month gross

FOR LEASE: Richmond, VA – 1 acre IOS

Address: 1600-1615 Commerce Road, Richmond, VA 23224

Features: Paved storage lot available in Manchester Industrial Park

Close To: I-95, I-64, US-301

Buildings: None

Zoning: M-1 (Heavy Industrial)

Info: LINK

Rental Rate: Available upon request