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IOS List - June 13, 2023

IOS List - June 13, 2023

Will J-Pow pause? The I-95 barbeque. IOS shakes off the freight recession. Eight new IOS deals to analyze.

Alex Best
June 13, 2023

Good morning. This is IOSList. We do more IOS before 10 am than most folks do all day.

Try our resources for IOS pros:

Now on to the news and listings!

NEWS ROUNDUP

You look exhausted, Jerome. Take a breather.

All eyes on Jerome Powell. The Fed's rate hike decision will land at 2 pm on Wednesday. The market is expected a 71.2% probability of NO RATE HIKE according to CME FedWatch Tool (below). On the other hand, the chance of a rate CUT by year end is dwindling. Traders expect another July hike of 25 bps and then…wait and see.

I-95 in Philly is toast. Youse guys are in for a rough commute around Philly after a burning tanker truck cause an elevated chunk of I-95 to fall to the ground on Sunday. Officials said that northbound lanes were gone entirely, and southbound travel was closed, meaning drivers were sent on a 43-mile detour. I-95 will likely take months to repair, disrupting travel along a critical transportation corridor for people and goods.

Northmarq puts out a great weekly roundup of industrial transaction volumes. Click below to view. Hat tip to Chris Adams:

Source: Chris Adams, Northmarq

IOS chugs along despite freight recession. The IOS industry was less affected during the freight recession because of its diverse tenant base like construction supply, heavy equipment, automotive, and landscaping. Trucking industry orders have decreased by around 38% compared to the previous year. Due to the lack of centralized ownership and opaque market pricing, industrial clients are willing to pay a premium for IOS sites.

Hamilton Lane reports IOS cap rates 150 bps to 300 bps higher than traditional industrial? We wish: LINK. Overall, this is another good report to send to your family so they can get smart on IOS before the reunion this summer. We do like this graph via CBRE breaking down the expenses for transportation and logistics tenants. Looks like there is some room for rent growth:

And this is a good one to share with your lender:

Reshoring is the new black. Reshoring is booming domestically, encouraging companies to relocate manufacturing and distribution operations in the US to avoid overseas political tension and supply disruptions. This change created 101,500 new jobs in the first quarter.

FOR SALE

Ewing Township, NJ - 2.11 acre IOS site

The Blau and Berg Company is offering this 2.11 acres of IOS site at 120 Stokes Avenue, Ewing Township, NJ. It is Zoned IP-3 Industrial and is properly fenced. The land is flat and is adjacent to Stock Ave Road. Easily reachable to Trenton Transit Stop in 5 min drive, Trenton Transit Center (NJT) Commuter Rail in 7 min, and Freight Port of Philadelphia in 45 min. Call for pricing. Link to listing: LINK

For more information, contact Alex Conte at 973-379-6644 or Troy Schaafsma at 973-379-6644 x11.

Memphis, TN - 7.44 acre ISF for sale or lease

Colliers is offering this 7.44 acre IOS property at 1241 Louisiana St in Memphis, TN. Available for sale or lease, this industrial service facility (ISF) was recently improved with CR610 crushed limestone, 1,192 linear ft. of dolly pads, and a new 30 ft electric gate with card access. Only 0.2 miles away from Interstate 55. Close to FedEx’s World Hub, CN Intermodal, Norfolk Southern Intermodal, Central Subway Station, Memphis International Airport and United Warehouse Terminal. Link to listing: LINK

For more information, contact Alex Stringfellow at 901-375-4800 or Bryce Daves at 662-299-5709.

Boston metro, MA - 48 acre (18 useable acre) warehouse + IOS development site

Jacob Realty is offering this 47.8 acre (18 usable acres) warehouse and IOS development site in Bridgewater, MA about 39 miles to Boston and 27 miles to Providence. The development would accommodate up to 450,000 SF of warehouse or industrial space and additional space for IOS. Zoned Industrial Unrestricted with “cluster zoning” allowing for multiple buildings on one lot. Permitted uses include warehouse, distribution, manufacturing, outdoor storage, tractor trailer parking, and fueling station.

For more information, contact Linda Houllahan at 617-852-7052.

Mobile AL industrial laydown yard for sale

Mobile, AL - 3.8 acre industrial laydown yard

CRE Mobile is offering this 3.82 acre industrial fenced laydown yard at 88 Telegraph in Mobile, AL. The M-1 (Industrial Zoned) land is near AL State Docks and CSX Rail. Adjacent to Telegraph Rd, located near interstate I-165, I-10, I-65 and US HWY 90. The water, gas and electric are available. The land is fenced and cleared to use as a contractor storage yard. It is only a 6-minute drive away from AL State Docks, 6 minutes from AL Port, 3 minutes from The Finch Companies Railroad and 30 minutes from Mobile Regional Airport. Link to listing: LINK

For more information, contact Tommy Gleason at 251-438-4312.

FOR LEASE

Atlanta metro, GA - 14.43 acre IOS

Lee & Associates is offering this 14.43 acre IOS site at 7950 Bowen Road Palmetto, GA, with 15,976 SF across 4 buildings. Building specs include an 8,640 SF building with two drive-in doors (14’x12’), a 3,294 SF building, 1,294 SF covered storage and a 2,752 SF building. Around 10 acres is used for IOS. It is fully fenced and has a 788’ road frontage. The property is zoned M-1 Zone (Light Industrial). Easy access to Roosevelt Hwy (¼ mile) and I-85 (2 miles). Nearby are UPS Customer Center, FedEx Ship Center, ATL Airport, CSX Intermodal and Norfolk Southern Intermodal. Link to listing: LINK

For more information, contact Lee & Associates Mark Thomas at 404-442-2832 or Charlie Mitchell at 404-442-2123.

Greer, SC - 4.12 acre IOS

Stream Realty is offering for lease 391 Leonard Rd in Greer, SC. The property features a 4-acre yard, fenced and secured, with a 6,000 SF 2-bay maintenance building. The property is one-half mile from the Highway 101 exit on Interstate 85 which is also the home of BMW’s Greer manufacturing plant. The property, quoted at $4,000 per acre per month, will be available for lease September 1st.

For more information, contact Rob Williams at 864-593-0928.

CONFIDENTIAL - Central NJ 27 acre IOS site

This property is proximate to Garden state Parkway and I-95. Current owner will work with the tenant to secure a conditional use permit. Site is 35 miles from Port Newark and 43 miles from NYC.

For more information, contact Tyler Psenicska at 410-858-7208.

Cross dock facility for lease in Riviera Beach, FL

Riviera Beach, FL - 61 door cross-dock on 8.97 acres

Burr & Temkin is offering this cross-dock facility for lease at 1463 MLK Blvd, Riviera Beach, FL. The property is a 31,500 SF cross-dock with 61 doors at 9’x10’, concrete tilt-up construction with 17.33’ bay width and 28’ ceilings. It has 3,000 SF of office space on 2 stories. The site is just north of West Palm Beach and within a 10 hour drive from 10 intermodal/rail terminals and 6 ports. Currently the property is under construction but will be finished by October 2023.

For information, contact Will McFarlin at 770-410-1900 or Nat Weikert at 678-575-4607.

ATTENTION: YARD DOGS

Yard Dog is a term for industrial outdoor storage professionals

Brokers/Owners: Do you have an IOS property for sale or lease? Do you want your offering seen by the most active IOS buyers and investors? List it here for targeted distribution and gain visibility as an expert broker in the IOS space. Click here to submit a listing:

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