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- IOSList - July 25, 2023
IOSList - July 25, 2023
New developments from Iconic Equities and Transport Properties. Negative absorption in SoCal. Maersk flies in ATL, New interest rate tracker. Nine new IOS deals.
Maham Riaz & Alex Best
July 25, 2023
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NEWS ROUNDUP
Iconic Equities breaks ground in the Inland Empire. The development site is 5.6 acres in Fontanta, CA that includes plans for a 12,500 SF structure. Address: 8247 Lime Avenue. Shelter Growth Capital Partners was the lender. Alex Staikos with JLL brokered the $16.2 million construction loan.
Transport Properties is building a truck terminal in Chicago. Located at 3000 E. 106th Street, the site boasts over 1,000 spots. Windy City Truck Parking has pre-leased the site, which will be fully paved, fenced, and monitored 24/7.
IOS is tough sledding these days. “Once the overall economic slowdown turns the corner, indicators point to a rebround in demand in the IOS space once the Pacific Marine Associateion agreement is ratified.” -Adam Beierling, West Harbor Capital
First negative industrial absorption in 2 decades in Inland Empire. In one of the country’s tightest industrial markets, absorption dropped by 1.3M SF in Q2. Vacancy rose from 1.2% to 3.8% year-over-year.
Banks tighten U.S. property loans to reduce defaults. U.S. banks are scrambling to modify commercial real estate loans to get ahead of a wave of maturity defaults and coverage defaults.
Ocean carrier expands cargo network in ATL. Maersk opened a 123,000 SF air freight station near Hartsfield-Jackson Atlanta International Airport despite market headwinds.
THE COST OF MONEY
IOS FOR SALE
FOR SALE: Albany, GA – 27.45 acre industrial land
Address: 450 S Mock Rd, Albany, GA 31705
Features: level and lightly wooded, 340 ft of road frontage, within the Albany/Dougherty Military Tax Credit Zone, owner financing available
Close To: Hwy 82 and Hwy 19, Georgia Pacific, US Marine Corp Logistics Base, railroad adjacent
Zoning: M-1 Industrial
Info: LINK
Asking Price: $249,000
Brokers: Lan Heath at 478-731-5899 or Joseph Bowen at 478-538-6026
FOR SALE: Chicago, IL – 6 acre IOS
Address: 1999 N Narragansett Ave in Chicago, IL
Features: Water, sewer, paved, existing CDL training site
Close To: Chicago O'Hare International & Chicago Midway International Airports
Zoning: PMD 15 (Planned Manufacturing District)
Info: LINK
Asking Price: $4,000,000
Broker: Peter Arenson at 773-385-5700 (x225)
FOR SALE: El Paso, TX – 4.5 acre development site along US-Mexico border
Address: 1079 Southside Rd, El Paso, TX
Close to: El Paso International Airport & EL PASO Terminal Warehouses, INC.
Zoning: Ranch/Farm (current)
Asking Price: $4,000,000
Info: LINK
Broker: Armando Sarti at 915-288-5287
FOR SALE: Decatur, TX - divisible industrial park site
Address: 3496 Gateway Dr, Decatur, TX 76234
Lot Options: 219 acre, 100 acre and 50 acre
Features: Water, sewer, electric, over 1 mile of frontage on Hwy 287 with 30,000 VPD
Close To: adjacent to BNSF rail line and Highway 287
Zoning: Heavy Industrial
Info: LINK
Broker: Matt Troutt at 214-646-1941 or Jon Altschuler at 214-763-7777
FOR SALE: Denver, CO – low coverage warehouse on 7.38 acres
Address: 2651 and 2721 E 79th Ave, Denver, CO 80229
Features: Opportunity Zone, 10,100 SF warehouse with 5 ton crane
Zoning: I-2 (4.18 acres) and Residential/A-2 (3.2 acres)
Close To: I-76, I-270, I-25, and 23 miles to Denver International Airport
Info: LINK
Asking Price: $6,500,000
Broker: Kirk Goodwin at 785-249-0052
IOS FOR LEASE
FOR LEASE: Ridgeland, SC – low-coverage industrial on 27.14 acres
Address: 4427 Grays Hwy, Cypress Ridge Industrial Park, Ridgeland, SC 29936
Features: Water, well-lit, fully fenced, 29’ clear in the main building and covered
Buildings: (A) 87,000 SF manufacturing facility with 29’ clear height and 34 drive-in doors, (B) 4,589 SF residential-style office, (C) 6,300 SF insulated warehouse with 12’ clear height and two 12×18’ doors
Close To: three miles to I-95, immediate access to US Hwy 278, 30 miles to Downtown Savannah, and 30 miles to Savannah-HH International Airport
Zoning: Light Industrial
Info: LINK
Broker: Oleg Mitnik at 917-656-1682
FOR LEASE: Austell, GA – 7.3 acre IOS
Address: 0 White Rd, Austell, GA 30168
Features: 144 trailer stalls, graveled, lit, secure
Close To: 2 miles to I-20, 6 miles to I-285 loop, 8 miles to Norfolk Southern Intermodal
Zoning: Heavy Industrial (HI), stacking permitted
Info: LINK
Broker: Beau Acuff with Stream Realty at 404-962-8626
FOR LEASE: Las Vegas, NV – 6.06 acre IOS
Address: 4710 E Cartier Ave, Las Vegas, NV 89115
Features: partially paved, fully sprinklered, 400A, 120/240 V electric, water, septic
Buildings: 6,050 SF warehouse with 22’ average clear height and 3,150 SF office
Close To: 3.3 miles to I-15
Zoning: M-1
Info: LINK
Broker: Eric Larkin at 702-279-2479 or Leslie Houston at 660-287-2253
FOR LEASE: Houston, TX – 10 acre IOS
Address: 13020 Donegal Way, Houston, TX 77047
Features: stabilized, fenced, and gated
Close To: Beltway 8, SH 288, SH 35, I-45, Downtown Houston, Hobby Airport
Asking: $3,500/acre/month NNN
Info: LINK
Broker: Jason Scholtz at 832-683-0004 or Brad Beauchamp at 713-830-2103
ONE MORE THING
Talked to a supplier today who said 3-phase transformers for commercial real estate have 52-54 week lead times right now
— Ali Wolf (@AliWolfEcon)
8:37 PM • Jul 14, 2023
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