IOS List - May 12, 2023

Bay Street closes five acquisitions. IOS emerging markets? Six deals to analyze today.

Author

Alex Best
May 12, 2023

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NEWS ROUNDUP

Bay Street Capital grabs five in GA-FL. Miami-based Bay Street Capital continues its active streak by closing five IOS acquisitions across Atlanta, Jacksonville, and Savannah. The five properties consist of over 20 acres of outdoor storage and warehouse with four properties coming 100% occupied. The properties are used for tractor trailer parking, last-mile delivery van parking, auto storage, and container storage. Cinco mas!

Tennessee IOS rents with feature premiums -CBRE

Tennessee IOS demand is booming. Sure, port cities and infill sites get all the love, but don’t forget the flyover states and their critical logistics infrastructure. Most of the action in the Volunteer State happens in the Nashville (home of country music) and Memphis (home of blues, BBQ, and Fedex) markets. Don’t sleep on the interior of the country. Smaller investors and operators have an opportunity to roll-up portfolios for an institutional exit. Get there first.

Tale of Three Emerging IOS Markets. Want an inside glimpse at the three amigos of up-and-coming industrial markets: Las Vegas, Raleigh-Durham, and Stockton, CA? The article highlights the potential of smaller metros that could offer the next wave of institutional investment. See above: roll-up. IOS will follow the same consolidation path as self storage.

Headline CPI cools a bit. April CPI inflation data shows US inflation rate falls to 4.9%, below expectations of 5.0%. Huge win? This marks the 10th consecutive monthly drop in the US inflation rate. Shelter makes up a third of the overall CPI index and decreased slightly month over month (see above). If shelter has peaked, that could translate into a coming drop in CPI. Want proof? The market is now pricing a 95.5% chance that Fed rates will drop rates by 50-100 bps by year end.

FOR SALE

For Sale: 55 acre IOS in North Charleston, SC

North Charleston, SC - 55 acre IOS

Lee & Associate is offering this IOS land in the port and logistics market of North Charleston, SC. The site is 55 acres of cleared and graded industrial outdoor storage land. The site is centrally located in an aera of N. Charleston that is close to the airport and has easy access to I-26, I-526 and all nearby port terminals. There is a Norfolk Southern railway directly accessible. The property has six active leases with 10 year average annual NOI of $3,770,199. Water/sewer is currently being added to the site, and 600A electrical service is available. Link to listing: LINK

For inquiries, reach out to Lee & Associates brokers Reid Davis at 843-270-2995, Pete Harper at 843-696-5533, or Cameron Yost at 843-814-7236.

West Chicago IOS site for sale

Broadview (west Chicago), IL - 8.23 acre Last Mile Logistics Site

John Greene Commercial is offering this vacant IOS site zoned for trailer parking and truck terminal uses under existing zoning. The site is fully approved for 170 parking stalls and up to a 50-door terminal. Located just 500 feet from the 25th Ave expressway ramp onto I-290. Nearby Interstates include I-55 and loops, I-94 and loops, and I-80. Only 6 miles to Union Pacific Railroad, 12 miles to Midway, 13 miles to O’Hare, and 17 miles to downtown Chicago. Listing: LINK

Exclusively listed by Shamus Conneely at 773-814-3378 and Cory Ramey at 773-882-0677.

For Sale: east Nashville metro industrial outdoor storage

Murfreesboro (Nashville metro), TN - 11.97 acre IOS site

Stream Realty and Beacon Companies are offering this 11.97 acre IOS site perfect for trailer parking or outdoor storage. The site is available for sale or lease and will be ready for occupancy in Q3 of 2023. The site is mapped for 268 trailer stalls, and is fully paved, fenced and lit. The site is immediately adjacent to I-840 at exit 65, with proximity to I-40, I-24, and I-65. The Nashville airport offers an all-cargo complex. The Port of Nashville provides access to the Cumberland River and onward to the Gulf of Mexico. Over 12 million people live within a 3-hour drive, and a 2-day truck distance takes you as far west as Utah, north to Maine, and south to Mexico or Miami. Link to listing: LINK

For inquiries, contact Stream brokers Griffin Farriss at 561-676-2601, Bradley Worthington at 615-517-1386, or Beau Acuff at 404-962-8626.

FOR LEASE

For lease: Alhambra, CA IOS yard

Alhambra, CA - 1.78 acre IOS

Colliers is offering this 1.78-acre industrial logistics yard opportunity with most outside storage uses allowed by right. The fully fenced, paved and secured IOS yard contains a 21,926 SF pass-through structure that can remain or be demolished. The site has immediate access to both the 710 and 10 freeways and has many nearby amenities. Asking price is $0.75 PSF NNN and terms can be flexible.

Exclusively listed by Riley Heaton with Colliers at 323-278-3118 or [email protected].

Pompano Beach, FL - truck parking IOS on 4.03 acres 

IOV and CBRE are offering this prime 4.03 acre truck parking lot zoned I-1. The site is 100% paved with 53’ semi turning radius, and will contain 91 striped parking spaces for trailers. The yard is fully fenced and secured, with an office/guard house. Over 5.4 million people (87% of Florida’s population) lives within a 60-minute drive from the property. The strategic Broward County location is between Miami and Palm Beach and is only 1.5 miles to I-95 and 1.4 miles to the Florida Turnpike. Link to brochure: LINK

For more information, reach out to CBRE brokers Larry Genet (786-496-0440), Tom O’Loughlin (954-356-0468).

ISF Site for lease in Deerfield Beach, FL

Deerfield Beach, FL - 22.7 acre ISF Megasite

IOV and CBRE are offering this site for lease with immediate availability. The site includes a 15,923 SF maintenance facility with 6 drive-through service bays. The total site is 22.7 acres and includes 2 points of ingress/egress. A preliminary plan can accommodate up to 531 trailer stalls. The parcel is zoned I-2 for heavy industrial uses, and is fully-secured with LED site lighting. Nearby access to I-95, I-75, FLL airport, MIA airport, Port Everglades, Port of Miami, and Palm Beach. Available in Q2 of 2023. Link to brochure: LINK

For more information, reach out to CBRE brokers Larry Genet (786-496-0440), Tom O’Loughlin (954-356-0468) and Noah Ohayon (305-916-9351).

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