IOS Daily - January 22 - Alterra buys 17 IOS from TruGreen

NEWS ROUNDUP

ACQUISITION: Alterra acquires 17 IOS assets in sale-leaseback with TruGreen. The portfolio totals 350,000 SF of buildings across 44 acres in 15 U.S. markets. Our research team is looking into details, but TruGreen has committed to a long-term leaseback arrangement for all the properties. Alterra closed on another portfolio sale-leaseback last week with ConGlobal. The Alterra deal team included Chris White and Charlie Totten. CBRE’s Capital Markets team in Chicago represented TruGreen.

ACQUISITION: Colliers sells Charlotte IOS to Alterra. The Colliers team of Greg Gosselin and Justin Smith brokered the sale of 3908 North Graham Street in Charlotte, NC to Alterra. The site includes ±11,950 square feet between two industrial buildings and ±4.2 acres of IOS. Gavin Weaver with Alterra sourced the transaction.

ACQUISITION: Colliers brokers IOS in Lubbock, TX. The Colliers team of Todd Moore, Trey Horne, and Connor Duffy sold 7011 Zenith Avenue in Lubbock, TX to Capital Real Estate Investments. The site includes a ±12,432 SF building with 5.0 acres of stabilized yard and is rented to Worldwide Rental Services. The buyer was repped by Troup Rolland of Capital Real Estate Investments.

READ: Port of LA director discusses cargo volumes, EV drayage truck adoption, and infrastructure development.

→ HIRING: Faropoint hiring Market Officer in Atlanta. Ideal candidate would have 7-10 years of acquisition and/or asset management experience and is looking to expand their knowledge and experience to Real Estate Private Equity.

→ HIRING: Iconic Equities hiring Director of Acquisitions in Atlanta or Dallas. Ideal candidate would have 5-10 Years of experience sourcing, underwriting, developing, and managing industrial acquisitions in their respective market.

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 SALE: El Reno, Oklahoma - 44 acre warehouse + IOS  

Address: 6150 E Highway 66, El Reno, Oklahoma 73036

Features: Total 44 acres with 14 acres 8" reinforced concrete, fenced, lit, gated, 40,000 fronting I-40

Close To: Interstate 40

Buildings: 5 buildings totaling 40,000 SF industrial

Zoning: I3 Heavy industrial

Info: LINK

Asking Price: $9,800,000

FOR LEASE: Lee's Summit, MO – 4.72 acre Heavy Equipment Yard

Address: 1100 SE Hamblen Rd, Lee's Summit, MO 64081

Features: Fenced, lit, paved and graveled, drive-thru bays, oversized drive-in doors, floor drains, heavy power

Close To: 291 Hwy and 50 Hwy

Buildings: 20,000 SF drive-thru maintenance facility with 10,000 SF office (two 5,000 SF levels), 7 oversized drive-in doors, 3 drive-thru bays, 20' clear height

Zoning: PI (Planned Industrial)

Info: LINK

Rental Rate: $30,000/month NNN

FOR LEASE: Atlanta, GA – 5 acre heavy equipment yard

Address: 1 Alchemy Pl, Atlanta, GA 30360

Features: Paved, lit, fenced, gated

Close To: I-85, I-285, NFS rail

Zoning: M2

Rental Rate: $10,000/acre/month NNN

Info: LINK

FOR LEASE: Lakeside, CA – 1.2 acre IOS

Address: 12485 Highway 67, Lakeside, CA 92040

Features: Graded and level yard

Close To: Hwy 67, 52, 125 and I-8

Zoning: M-58 Zoning (outside storage and manufacturing by right)

Info: LINK

Rental Rate: $15,158 ($0.29)/month gross

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