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- IOS Daily - June 24 - Fortress closes a giant $708M IOS portfolio refi
IOS Daily - June 24 - Fortress closes a giant $708M IOS portfolio refi
Fortress closes huge CMBS portfolio refi. DAUM sells Compton low coverage site. Catalyst buys Charleston IOS. Matthews sells Tennessee IOS. Six new IOS deals.
Maham Riaz, Matt H & Katherine Peach
June 24, 2024
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NEWS ROUNDUP
FINANCING: Fortress closes $708M in loans to refi West Coast IOS portfolio. Fortress Investment Group has completed 2 IOS refinancing loans totaling $708 million. They included a first-of-its-kind single-asset, single-borrower CMBS loan for $493 million, as well as a $215 million balance-sheet loan. The collateral is a portfolio of 41 IOS properties on the West Coast comprising 142 acres of land and 1.9M SF of building space. Tom Pulley led the Fortress deal team. Deutsche Bank led the financings.
ACQUISITION: DAUM sells 1 acre site in Compton, CA for $5.8M. DAUM Commercial sold 1136-1200 South Santa Fe Avenue in Compton, California to a private investor. The low coverage site includes 2 warehouse/office buildings totaling 6,000 SF. The DAUM deal team included Anthony Bergeman, Krishna Shegran, and Michael Chase.
ACQUISITION: Apex sells Catalyst 1.76 acre IOS in Charleston for $2.4M. The Apex Investment Property Group of Lee & Associates has sold 1000 Trident Street in Hanahan, South Carolina, a Charleston suburb, to Catalyst Investment Partners. The property includes a 6,000 SF warehouse. The Apex deal team included Jon-Michael Brock, Alex Whittemore, Paul Paschal, and Thomas Fawcett. For leasing inquiries, contact Brandon Johnson and Dan Haroun of Catalyst.
ACQUISITION: Matthews sells 10.17 acre IOS in Columbia, TN. A Matthews RE Investment Services team led by Harrison Auerbach and Jay Reeves has brokered the sale of 1760 Tom J Hitch Parkway in Columbia, Tennessee. The site includes 3 buildings totaling 22,100 SF of indoor space. Harrison and Jay secured a 5-year lease for the property prior to closing.
150 NEW IOS SALES COMPS ON OUR MAP!
IOSList continues to leak alpha for our loyal readers. Our research team just uploaded 150 new IOS sales comps nationwide. All rent comps and sales compa data is free (for now). Seek out and find your delicious data here: IOS Map
IOS FOR SALE
AUCTION: Detroit, MI - 1.1 acre warehouse + IOS
BIDDING STARTS TOMORROW!
Address: 3245 Hubbard Street, Detroit, MI 48210
Close To: I-96, I-75, I-94, Norfolk Southern Rail
Features: 2,000 amps, 240 volts, 3-phase power, green zone approval, 3 parcels, 2 NNN tenants
Building: 36,000 SF 2-story warehouse with 19’ - 28’ clear height, 3 grade-level doors, and 3 truck wells
Zoning: SD2 (Special Development District)
Asking Price: $550,000 starting bid
Info: LINK
FOR SALE: Fort Worth, TX - 36.75 acre IOS
Address: 3879 Rendon Road, Fort Worth, TX 76140
Features: Graveled, gated, 3 phase power
Close To: I-20, I-35W
Buildings: Approximately 11,580 SF of RBA including: 3 warehouse buildings totaling 9,350 SF with 15'-24' clear heights, 3 storage buildings totaling 1,380 SF, and an 850 SF office building
Zoning: ETJ
Asking Price: Contact Brokers
Info: LINK
FOR SALE/LEASE: Mulberry, FL - 10 acre IOS
Address: 2606 Cozart Road, Mulberry, FL 33860
Features: Fenced with 24' sliding gates, water and electric
Close To: CSX Railroad within feet of the property.
Zoning: Heavy Industrial
Asking Price: $2,000,000
Rental Rates: $3500/month/acre NNN
Info: LINK
IOS FOR LEASE
FOR LEASE: Carlstadt, NJ - 4.9 acre warehouse + IOS
Address: 245 Paterson Plank Road, Carlstadt, NJ 07072
Features: Dirt road, slab poured, walls up, roof on, 800 amp power
Close To: Direct exits to Rt. 3, Rt. 17, Rt 46, I-95, I-80, and Teterboro Airport
Building: 47,500 SF building with 3,600 SF office, 14 loading docks, 1 grade-level door, 28 trailer spaces, 37 car spaces, 40' ceiling height, 200' building depth
Zoning: LIB (Light Industrial B)
Info: LINK
FOR LEASE: East Rutherford, NJ - 4.7 acre warehouse + IOS
Address: 880 Paterson Plank Road, East Rutherford, NJ 07073
Features: Fenced, paved, exterior/interior lighting upgrades
Close To: Easy access to Routes 3, 17, and I-95, and near US-46 and route 21. Minutes from the GWB, Lincoln, and Holland Tunnels. 12.2 miles to NYC
Building: 34,740 SF industrial/flex building with 3,197 SF office, 11 loading docks, 2 drive-ins, 20' ceiling height
Zoning: RA (Redevelopment Area)
Info: LINK
FOR LEASE: Linden, NJ - 30-dock terminal on 1.6 acres
Address: 975 East Linden Avenue, Linden, NJ 07036
Close To: US Hwy 1 and 9, I-95, I-13, and Newark Airport
Building: 12,500 SF building, 30-dock terminal, suspended gas heat, sprinkler system, clear span
Zoning: Industrial
Info: LINK
ONE MORE THING
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