IOS Daily - June 21 - Catalyst buys Wilmington, Delaware IOS for $4.5M

NEWS ROUNDUP

ACQUISITION: Catalyst buys 1.54 acre IOS in Wilmington, DE for $4.5M. Catalyst Investment Partners has purchased 350 Pigeon Point Road in New Castle, Delaware, a suburb of Wilmington. The property includes an 11,409 SF warehouse. Led by Dan Haroun and Max Heiden, Catalyst’s private equity fund is investing more than $500 million in IOS properties on the East Coast.

ACQUISITION: Open Industrial acquires 8.68 acre IOS in Manassas, VA. Open Industrial has purchased 6788 Wellington Road in Manassas, Virginia. The property features 4,000 SF of warehouse and office space and is 100% leased to Willscot Mobile Mini. The property is adjacent to 200 acres owned by Microsoft. This is OI’s second IOS purchase in Manassas this month.

LEASE SIGNED: Kidder Matthews leases 1.8 acre IOS in Seattle area. Kidder Matthews has leased out 5516 144th Street East in Puyallup, Washington, a suburb of Seattle. The site includes 3,200 of indoor space. The KM deal team was led by Hunter Clarke.

FINANCING: Byline closes on $3.25M loan for 2 acre IOS in SoCal. Byline Bank’s CRE Group has closed on a $3.25 million loan for the purchase of an IOS property in Ontario, California. The borrower is a JV between Ambient Capital Partners and an equity partner. The Byline team included Joanne Campanile, while the Ambient team included Patrick Hackett.

READ: Prologis has a brand-new battery storage facility in Texas.

NEW LINGO JUST DROPPED: e-IOS

Credit to Ryan Dunlap and Greg Pearson at Fortress for bringing this to our attention. Let’s survey the mob to see if the new subsector will stick:

FOR SALE: Fontana, CA - 1.6 acre truck facility

Address: 14955 Slover Avenue, Fontana, CA 92337

Buildings: Approved plans for truck repair facility including a 3,424 SF 2-story office, a 3,850 SF truck washing facility, and a 3,530 SF repair shop with 4 bays

Close To: Immediate I-10 access via Slover Ave and Cherry Ave

Zoning: IG (General Industrial)

Info: LINK

FOR SALE: Des Plaines, IL - 5.92 acre IOS

Address: 825 Seegers Road, Des Plaines, IL 60016

Features: Fenced lot, gas utility

Close To: I-90, I-294, and Chicago O'Hare Intl. Airport

Building: 16,000 SF building with 5 drive-in doors

Zoning: M-2 (Manufacturing)

Asking Price: $5,000,000

Info: LINK

FOR SALE: Wilkes Barre, PA - 8.6 acre IOS

Address: 151 2nd Street, Wilkes Barre, PA 18702

Features: Gravel yard, partially fenced, other utilities

Close To: I-81, Cross Valley Expressway, and Wilkes-Barre/Scranton Intl. Airport

Building: 4,200 SF warehouse with 10’ ceiling height plus 1,200 SF shop building with drive-through access

Zoning: Industrial

Info: LINK

FOR LEASE: Ladson, SC - 3.5 acre IOS

Address: 8016 Commerce Center Road, Ladson, SC 29456

Features: 240 trailer parking spaces, 8” gravel, fencing, gated entry

Close To: Frontage on US-HWY 78, Mercedes-Benz Vans, Bosch, and Boeing

Zoning: Industrial

Rental Rates: $24,500/month

Info: LINK

FOR LEASE: Laredo, TX - 1.85 acre IOS

Address: 14710 Atlanta Drive, Laredo, TX 78045

Features: Securely fenced with ample space for trailer parking

Close To: I-35, I-69W, Laredo Intl. Airport

Building: 2 portable buildings totaling 4,604 SF (can be removed or built to suit)

Rental Rates: $1.86/SF/year

Info: LINK

FOR LEASE: Sedalia, CO - 1.61 acre IOS

Address: 5389 Plum Avenue, Sedalia, CO 80135

Rental Rates: $1.71 /SF/YR

Info: LINK

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