IOS Daily - March 13 - Alterra buys 5 acre Baltimore IOS

NEWS ROUNDUP

ACQUISITION: Alterra buys 5 acre IOS in the Baltimore area. Alterra IOS has purchased 7121 Dorsey Run Road in Elkridge, Maryland, a suburb of Baltimore. The property includes both paved and graveled trailer storage, along with 13,000 SF of indoor space. The property is currently fully leased to Traffic Engineering Services. The Alterra deal team included Senior VP Mark Gannon. MacKenzie Commercial represented Alterra in the sale.

ACQUISITION: Matthews sells 10.5 acre GA IOS for $12M. Matthews Real Estate Investment Services has sold 3368 Moreland Avenue in Conley, Georgia, a suburb of Atlanta. The 10.51 acre property includes a 37,000 SF building. The sale price was $12 million. The Matthews deal team was led by Harrison Auerbach. Matthews closed with an all-cash buyer in a sale that took 40 days from start to finish.

ACQUISITION: Avison Young brokers sale of Ontario IOS for C$72.5M. Avison Young has brokered the sale of 297 Rutherford Road S. in Brampton, Ontario, a city in the Greater Toronto Area. The 18 acre IOS property also includes a 34,000 SF cross doc with a repair shop. The sale price was C$72.5 million (approximately $53.6 million USD). The Avison Young deal team included Janse Rain.

FUNDRAISING: Texas pension wants to invest in IOS, other niche RE. According to portfolio manager Simon Mok, the Employees’ Retirement System of Texas seeks to focus its international real estate investing on niche sectors such as IOS. “[IOS properties] aren’t necessarily a very good-looking piece of real estate, but they have a lot of usage and they can be converted into logistics use,” Mok said. (Editor’s note: The beauty is in the scarcity, not the aesthetics:)

READ: Industrial RE expected to remain strong throughout 2024.

FOR SALE/LEASE: Baytown, TX - 7.1 acre IOS

Address: 16600 FM 2354, Baytown, TX 77523

Features: New construction, fully stabilized, fenced, and lit, connections in place for mobile office

Close To: Hwy 146, 99, and Port of Houston Container Terminals

Zoning: ETJ

Asking Price: Contact broker

Info: LINK

FOR SALE: Bellwood, IL - 3.02 acre IOS + 2.5 additional acres available separately

Address: 2400 Maywood Dr, Bellwood, IL 60104

Features: Paved, fenced, lit, power, electric plug-ins, video security, above ground fuel tanks, etc.

Close To: Minutes north of I-290 and 25th Ave interchange, close to I-294

Buildings: 48,000 SF HQ and shop maintenance facility

Zoning: I2 General Industrial

Info: LINK

Asking Price: $5,700,000

FOR SALE: Fort Worth, TX - 3.98 acre IOS

Address: 2525 Handley Ederville Road, Richland Hills, TX 76118

Close To: Hwy 121, I-30, I-820, and Dallas/Fort Worth International Airport

Zoning: BP (Business Park)

Info: LINK

FOR LEASE: Lebanon, TN - 7.14 acre IOS

Address: 101 Logistics Drive, Lebanon, TN 37090

Features: To be delivered: paved, lit, fenced, fully secured, utilities onsite, and BTS available

Close To: I-840, I-40, I-24, Nashville International Airport

Zoning: Industrial

Rental Rates: $6,500-9,000/acre/month depending on tenant’s needs

Info: LINK

FOR LEASE: Camden, NJ - 11.2 acre IOS

Address: 1435 River Avenue, Camden, NJ 08105

Features: Heavy-duty gravel, fenced, lit, gated

Close To: I-676, I-76, I-95, I-295, Port of South Jersey/Philadelphia

Building: 6,750 SF service facility with office, 6 drive-in doors

Zoning: LI-2 (Light Industrial, outdoor storage permitted by right)

Rental Rates: $9,750/acre/month NNN

Info: LINK

FOR LEASE: Austell, GA - 4 acre IOS

Address: 700 Lee Industrial Boulevard, Austell, GA 30168

Features: Fully-fenced, graveled, lit, and ideal for truck parking

Close To: I-75, I-85, I-20, I-285, Downtown Atlanta, and Hartsfield-Jackson Atlanta International Airport

Zoning: HI (Heavy Industrial)

Rental Rates: $5.73 /SF/year

Info: LINK

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