IOS List - May 16, 2023

Good morning. This is IOSList, the worldwide leader for industrial outdoor storage news and listings.

To the new readers: here’s what to expect from IOSList each day:

• The latest news on the biggest players and deals in IOS

• Daily property listings (for sale, for lease, and space needs)

• AI-enabled zoning bot to find IOS-appropriate zoning fast: zoningscout.com 

• Insider-only IOS rent database. Access here: LINK

• Off-the-record notes on recently inked leases

• Deep analysis on the financing markets and rates

• Beautiful photos of chain link, gravel, and diesel fumes

• A few laughs and opportunities to get together in person

Let’s dive in.

FOR SALE

Boise, ID - 1.57 acre IOS development site

This 1.57 acre industrial land is an ideal location for IOS. It is adjacent to I-84 with an interchange under 1 mile away. The site is only 4.7 miles to the Boise Airport. Asking price is $550,000.

Exclusively listed by TOK Commercial Real Estate’s Gavin Phillips at 208-947-0812 or [email protected].

East Syracuse, NY - 31.8 acre IOS development

This site consists of two contiguous parcels zoned Industrial in the Town of Dewitt with CSX rail access. There is access to I-90 less than two miles away at the exit at Carrier Circle. Gas, water, and electric are available. Owner would consider partnering with a developer. Asking price is $1,580,000. Link to listing: CLICK HERE

Exclusively listed by Elaina Pirro with Pyramid Brokerage at 315-445-8520 or [email protected].

Sacramento, CA - 3.8 acre IOS development land

GQ North is marketing this 3.8 acre site with proposed plan for a 3,500 SF shop building with 28 trailer spaces at 12×50 and another 26 trailer spaces at 12×70. Asking price is $1,500,000. Link to listing: CLICK HERE

Exclusively listed by GQ North broker Alex Byrd at 530-863-3188.

FOR LEASE

Phillipsburg, NJ - 9.8 acre IOS site 

This IOS site in Phillipsburg, NJ comes with a 17,534 SF building on 9.8 acres of fenced, lit, and paved IOS land. The site offers short drives to NYC (65 minutes), Trenton (65 minutes), Allentown (26 minutes), Philadelphia (75 minutes), Springfield (60 minutes), and Hartford (70 minutes). The site is divisible for multiple users and available for month-to-month occupancy.

For leasing inquiries, reach out to Binswanger broker Chris Pennington at 215-448-6053, Matt Corrigan at 215-622-0786, Timothy Pennington at 215-407-1272, or Michael Torsiello at 215-448-6210.

Opa-Locka (Miami metro), FL - 9.7 acre IOS

This fully-secured, fenced, paved, and lit IOS site includes a 2,409 SF building. The property can access I-95 in 10 minutes and I-75 in 8 minutes. Downtown Miami is 20 minutes and Miami International is also 20 minutes.

For leasing inquiries, please reach out to CBRE broker Larry Genet at 954-356-0468 or [email protected].

Oklahoma City, OK - 0.56 acre IOS lot

This 0.56 acre lot is conveniently located off of S. Meridian Ave and is perfect for equipment storage or a laydown yard. Priced at $3,500 per month, this lot is fenced and graveled and provides access through the gate on SW 34th St. The lot is zoned I-2 which is ideal for industrial uses. Lease term is negotiable.

For leasing inquiries, please reach out to Mitch Hammack at 405-312-2512 or Brent Holliday at 405-948-7500.

LENDING ON IOS: JUSTIN HOROWITZ

First things first, this may be the ultimate deal trophy for the IOS set:

To get your hands on one, you have to go through Justin Horowitz with Cooper Horowitz, a debt and equity placement firm based in Manhattan. Justin is a third-generation real estate financier and IOS lending specialist. We asked him for an overview of the current market conditions:

Which IOS markets have you transacted in?

Most markets within New Jersey, Brooklyn, port cities like Savannah, Wilmington (DE), Baltimore, as well as Pennsylvania, North Carolina, Florida, Inland Empire, and the Midwest.

Which lenders are most comfortable with IOS properties?

We have closed with local banks, regional banks, debt funds, and pension funds and we are starting to share deals with LifeCos and CMBS lenders. Our lenders can source fixed and floating rate debt, depending on the business plan. We have closed for a variety of needs: acquisition loans, refis, and credit facilities.

What is the best way to educate lenders on IOS deals?

Being in person counts. I will hop on a plane with a lender and visit the site, drive the comps, and let them experience the asset first hand. Of course, sharing detailed information about the submarket and major tenants helps as well.

Are any originators specializing in IOS or are most still industrial generalists?

ME! While we work on all asset classes, I am making IOS a primary focus of my practice. IOS is no longer a secret, but there is still tremendous runway for the asset class to grow.

If you have an IOS deal in need of debt or equity financing, reach out to Justin at 917-355-7896 or [email protected].

ZONING SEARCH, SIMPLIFIED

Tired of hunting through muni-code websites for zoning info? We fixed that.

ZoningScout is an AI-enabled chat interface that will spit out the IOS-friendly zoning details for any metro area in the US. This is free resource to our readers. Just type in a city, and our free app will produce the local IOS-friendly zoning codes, permitted and prohibited uses, and link directly to the zoning code for each area.

Help us spread the word by referring colleagues and deal partners to subscribe: ioslist.com

FREIGHT MARKET TROUBLES