IOS Daily - January 29 - Catalyst buys Charlotte IOS for $2.6 million

NEWS ROUNDUP

ACQUISITION: Catalyst acquires IOS in Charlotte, NC, for $2.6 million. Brandon Johnson with Catalyst oversaw the purchase of 10600 Nations Ford Road in Charlotte. The site is 3.5 acres, zoned ML-2 Heavy Industrial, and includes a 5,500 SF office building. The sale price was $2.57 million, or $858,333 per acre. The sellers were Landfill Group’s Steve and William Brinkler. Joseph Kassin and Steve Pollan of KSR brokered the deal.

ACQUISITION: EquipmentShare acquires IOS in Phoenix, AZ, for $3.3 million. EquipmentShare purchased a 2.66 acre IOS property located at 3700 North 36th Avenue in Phoenix. The property includes a 31,500 SF warehouse that is currently leased. The sale price was $3.3 million, or $1.24 million per acre. The seller was Green Home Rentals LLC, which is run by Charles Kirkland of Charles Kirkland Companies.

FUNDING: Texas pension commits $50 million to Alterra. The Employees Retirement System of Texas (ERS) has committed $50 million to Alterra’s IOS Venture III fund. The fund’s goal is to raise $750 million to invest in IOS properties across the country. The Alterra team is led by co-founding partners Leo Addimando and Jeff Pustizzi, as well as managing partner Matthew Pfeiffer.

LEASE SIGNED: Sure Storage signs lease for 3 acre IOS site in Dallas, TX. Sure Storage has leased 3 acres of outdoor storage located at 4025 Singleton Boulevard in Dallas from CanTex. The property is fenced and paved. CanTex’s leadership team includes principals Romy and Sam Cheema. Bradford Commercial Real Estate Service’s Jason Finch represented the landlord.

FOR SALE: Apopka, FL - 3.23 acre warehouse + IOS on 7.51% Cap Rate

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 SALE: San Diego, CA - 3.81 acre warehouse + IOS

Address: 9550-9558 Camino Ruiz, San Diego, CA 92126

Features: Tesla single tenant NNN industrial / IOS investment

Close To: I-15, I-805 and I-5 freeways

Buildings: Recently renovated 28,570 SF industrial building with 2 dock-high positions, 5 grade-level doors and 1,600 Amps of power

Zoning: IL-2-1 (Light Industrial, outdoor storage permitted by right)

Info: LINK

Asking Price: Best offer, $857,100 year 1 NOI

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: Bloomington CA - 47,809 SF cross dock on 12.03 acres

Address: 2238 S Lilac Ave, Bloomington CA 92316

Features: Concrete paved, 44 auto parking stalls, 226 trailer-striped trailer stalls, 800 Amps, 277/480 volt, 3 phase power, ESFR Sprinklers

Close To: I-10 Freeway and Ontario International Airport

Buildings: 47,809 SF; 85 dock high doors, 1 Grade Level Loading Door, 5,698 SF of two story office, 26' minimum clear height

Zoning: Heavy Industrial

Info: LINK

FOR LEASE: Greer, SC – 12 acre IOS

Address: 361 & 391 Leonard Rd, Greer, SC 29651

Features: Paved, graveled, fenced, gated, utilities onsite, subdividable

Close To: I-85, BMW Greer Manufacturing Plant, Inland Port Greer, Airport

Buildings: 6,000 SF shop/warehouse with 2 drive-through bays, 14' tall doors, 16' clear height

Zoning: Industrial (outdoor storage permitted by right)

Info: LINK

Rental Rate: $4,000/acre/month NNN

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