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IOS List - July 11, 2023

IOS List - July 11, 2023

IOS amenities arms race: heavy power, solar, surface materials. Maison Group is searching for a Director of Acquisitions, IOS. Nine new IOS deals.

Maham Riaz & Alex Best
July 11, 2023

Good morning. This is IOSList, the (almost) daily digest on all the trends in industrial outdoor storage.

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Let’s dive in.

NEWS ROUNDUP

Changes are coming for industrial and IOS assets. “The way these occupiers are utilizing facilities today are extraordinarily different than they utilized them two decades ago,” said Mary Lang, CBRE Investment Management’s head of Americas logistics and strategies. “You need to have stronger floor slabs, you need to have higher clear heights, you need to have greater roof load capacity for solar installation. We need to bring more power to these facilities to run the truck loads that are coming.”

→ Career Opportunity - The Maison Group, a Washington, DC area based real estate executive search firm, has been engaged by a rapidly growing, well-capitalized IOS focused investment/development group to find a talented acquisition/investment professional to drive their strategic national expansion plan. Follow Link to learn more.

Shifting IOS priorities: power is the new parking. The logistics sector is prepping for a major transformation driven by the rise of EVs. As per McKinsey's April report, last-mile delivery services seek to decarbonize their businesses. Developers, designers and owners are proactively configuring power infrastructure to ensure electricity supply for charging vehicle fleets.

Governments and tenants push solar on logistics assets. Only 3% of the commercial and industrial sector currently use rooftop solar panels. However, legislative actions are taken to encourage the adoption of solar energy in individual states. New Jersey has required 40% of the roofs to be solar-ready for industrial projects. Tenants are increasingly demanding green amenities to check the box on ESG scorecards.

Hey mom, read this to understand my day job. Another IOS fluff piece to help the newbies ease into the IOS jacuzzi. Your typical highlights: IOS is an under-the-radar niche, $200 billion in asset value, zoning play, low capex, strong rent growth, etc. Oh, and always a mention of a few notable players with big pools of dry powder: EverWest, Zenith, Alterra.

SPACE NEEDED

Anyone have an equipment yard in the Raleigh, NC area?

Lee & Associates is working with a client searching for an equipment rental property in the Raleigh, NC area. Criteria:

5+ acres of graveled (prefer asphalt) and fenced yard area
In-place zoning allows for outside storage of equipment
10,000 to 20,000 SF building with 90% warehouse and grade-level drive-in doors
Prefer a location along the newer portions of the I-540 loop, but will consider any sites within 20 minutes of Raleigh
Sale or lease. BTS or existing property. Former auto dealers, RV dealers, etc. would work.

If you have a suitable site, please contact Mike Glennon at 703-772-2339 or Moss Withers at 919-576-2501.

If you are a tenant rep or IOS user with a space need, get in touch with us here to share your need with over 5,000 IOSList subscribers.

FOR SALE

Palmetto, FL – 49.3 acre IOS development site near the port

Cushman & Wakefield is offering 49.3 acres of IOS development site near the port for sale at 11551 US Highway 41 - Port Manatee – South, Palmetto, FL. The land is divided into two parcels. Plot A is 15 acres, whereas Plot B is 34 acres. The site has all facilities and advanced approval for various port-related uses. It is an approved PDEZ (Planned Development) zone land adjacent to CSX rail. The property is just minutes from I-275 & I-75. It is near Port Manatee, Sarasota–Bradenton International Airport and Gatx Terminals Corporation Railroad. Link to listing: LINK

For more information, contact John B. Jackson at 813-424-3202 or Bruce K. Erhardt at 813-204-5312 or JT Faircloth at 813-204-5362.

Orlando, FL – 5 acre IOS

Avison Young is offering 5 acres of IOS site for sale at 9674 Boyce Avenue, Orlando, FL. It is a 4.60 acres parcel of industrial-zoned land (RSTD/IND-4), with an addition of 0.40 acres to the property by orange county. The land has water, sewer and electricity facilities for outdoor storage, fleet parking, warehousing, and manufacturing. The property is near Florida’s Turnpike, I-4, and SR 528 (Beachline Expressway). It is nearby Orlando International Airport and CSX Intermodal Railroad. Asking price is $5,000,000. Link to listing: LINK

For more information, contact Gunner Leslie at 407-440-6642 or Nathan Eissler at 407-440-6658.

Lakeland, FL – 6.44 acre IOS site

SVN is offering 6.44 acres of IOS site for sale at 2372 Old Combee Rd - NE Lakeland, FL. It is a boasting high and dry land on lease. The property is near a highly active business park and several multi-family development areas. It is an I-2 zoned land mostly used for warehouse and storage purposes. Road connectivity with SR 33 and I-4, only 3.3 miles away from Saddle Creek Corp. Railroad. Asking price is $1,400,000. Link to listing: LINK

For more information, contact David Hungerford at 863-660-3138.

Edison, NJ – 1.87 acre ISF site

Blau & Berg is offering this 1.87 acre ISF for sale at 83 Gross Ave, Edison, NJ. The building has gas, sprinkler system, and suitable column spacing. The building is 4,500 SF with a 14’ ceiling height and 3 DI loading. It is a light industrial zoned land currently on lease. The land is easily accessible to 1 mile to US Highway 9, 0.8 Miles to I-95, 16 Miles to EWR and 25 Miles to NYC. It is close to Garden State Parkway, Newark Liberty International Airport and the Ports of Newark and Elizabeth. Asking price is $5,610,000. Link to listing: LINK

For more information, contact Jason M. Crimmins at 973-568-6611 or Alessandro (Alex) Conte at 973-432-1648 or Peter J. Murano at 973-214-9375.

Highland, CA – 2.34 acre IOS development site

Stream is offering 2.34 acres of IOS site for sale or lease at 26970 Meines St. Highland, CA. The site is 101,930 SF, partially fenced and has access to water, power and septic. It is a zoned Industrial (I) land use for truck maintenance, repair, storage and rental purpose. The land has two development plans. Plan A is ±69,872 SF IOS area with a 10,189 SF building, two (2) (12’ x 14’) ground-level doors and a gated entrance. Plan 2 has a 48,131 SF building, 6,000 SF two-story office, six (6) dock high doors, two (2) ground level doors with 50 parking spaces, and 131’5” truck court depth. Located 0.9 miles to the 210 Freeway and 3 miles to the San Bernardino International Airport (SBD). Link to listing: LINK

For more information, contact Ian Armbruster at 909-549-0655 or Stefan Pastor at 909-970-6203 or Trevor Wright at 909-456-0697.

FOR LEASE

Commerce, CA - 7.1 acre ISF

Lee & Associates is offering 309,336 SF of ISF for lease at 5800 Sheila St, Commerce, CA 90040. The site is fenced and has lighting, water, security and concrete paving. It has a 61,992 SF industrial building. The property is used for trailer parking, truck storage and vehicle maintenance. Link to listing: LINK

For more information, contact Jack R. Cline at 213-590-3512 or Greg Gill at 310-768-8800.

Apopka, FL - 4.75 acre IOS

Alterra IOS is offering this 4.75-acre site for lease at 3255 Clarcona Rd, Apopka, FL. The site has a 23,186 SF office/warehouse building and 666.75’ frontage on Clarcona Rd. The site is stable, fenced and gated. It is Zoned I-L for parking, contractor and equipment rental yards. The property has easy access to Western Beltway (429) via Apopka Expressway (414) and is 31.5 miles from Orlando International Airport. Link to listing: LINK

For more information, contact Mark Gannon at 610-246-6947.

Forest Park, GA – 5.45 acre ISF

Hailey Realty is offering this 5.45 acre ISF for lease at 5559 Old Dixie Rd, Forest Park, GA 30297. The site has lighting, a sprinkler, an oil water separator, a paint booth, security, paving and ground cover. It has a 37,900 SF building with a 14,500 SF office and a 23,400 SF warehouse. The warehouse height is 26’, has a side-load configuration, 2 dock-high positions, 2 van-hi positions and 3 grade-level doors. Covered outdoor parking area is 5,250 SF, and there are 98 total parking spaces. The property is 2 miles to Exit 237(Forest Pkwy) at I-75, 1.5 miles to Exit 235 (Old Dixie Hwy), 2 miles to Exit 58 at I-285 and 4.5 miles to Hartsfield-Jackson (ATL) Airport. Link to listing: LINK

For more information, contact Tommy Watkins at 678-904-6803.

Philadelphia, PA – 15 acre IOS site

CRCP Holdings is offering this 15 acre IOS site for lease at 10169 Northeast Ave NE, Philadelphia, PA. The site is mostly concrete-covered but also has gravel ground. It is an I-1 zoned land with a truck terminal and storage permit approved. The land is divided into 4 different parcels ready for sale. The property is close to Forest Hills Transit Stop, Cherry Hill Commuter Rail, Trenton Mercer Airport and Refrigerated Food Distributors Railroad. Link to listing: LINK

For more information, contact Chris Rahn at 267-727-3058.

LONG: IOS IN THE SOUTH

- The Southeast accounted for more than two-thirds of all job growth across the US since early 2020, almost doubling its pre-pandemic share.

- A flood of transplants helped steer about $100 billion in new income to the Southeast in 2020 and 2021 alone, while the Northeast bled out about $60 billion.

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