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- IOS List - May 19, 2023
IOS List - May 19, 2023
Sam Zell did it his way. Four themes for IOS lenders. News on IOV and Dayton Street. Six listings in Texas, Maryland, Florida.
Alex Best
May 19, 2023
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Good morning. This is IOSList, the #1 source for data, news, and listing on industrial outdoor storage.
A quick note of respect to one of the towering real estate giants of our generation. Sam Zell: REIT pioneer, Harley enthusiast, incredible market timer, inventor of business casual, did not pass on grass. Even in his eight decade, he was waking up at 4 am to workout, doing deals, and encouraging entrepreneurship to a younger generation. A life well lived. Dude was an animal. Do yourself a favor and listen to this great podcast interview of Sam from just a few weeks ago: LINK.
NEWS ROUNDUP
Take Four on IOS Lending. The crack research team at IOSList put out a recent piece on four themes for lenders to consider when analyzing IOS opportunities. Forward along to any lender in your life to help get them up the learning curve faster. Or just call our friend Justin Horowitz for the cheat codes.
IOS developers facing a triple threat. Rising demand for IOS has investors turning to development to deliver new IOS supply. The problems? Zoning challenges, tenant noise, and neighbors who turn their nose up at IOS uses. Don’t they wonder how Amazon packages magically arrive on their door steps in 2 hours? The institutional IOS players combat these challenges by focusing on infill markets with existing zoning. In short: they avoid the suburbs and exurbs and their NIMBY leanings.
Davidson Bogel Industrial sells a 42.3 acre IOS site to Semi Stow for a new truck park facility:
IOV developing a new ISF. Industrial Outdoor Ventures is turning Twin Lakes Travel Park in Davie, FL into a 38-acre industrial service facility. The new development will boast two buildings totaling 227,000 SF and outdoor lots that can hold 280 truck trailers. The site is 24 miles north of Miami with proximity to Interstate 595.
Dayton Street Partners builds a pair of IOS. Chicago-based Dayton Street is soon opening two new IOS redevelopments. The first is a 95-acre truck terminal with 500,000 SF of industrial space in Houston which is already leased to shipping giant Maersk. Can anyone whisper to us the lease rates?? The also have another terminal opening soon in Baytown, TX with proximity to Houston and two Gulf ports. The Baytown terminal will cover 47 acres and offer parking for 1,000 trailers. The site will also include a 1,382-foot-long building with a 24’ clear height meant for unloading and reloading truck cargo.
FOR SALE
Fort Worth, TX - 17.4 acre IOS
The Davidson Bogel Industrial team is offering this fully-leased IOS site with development upside. The property has six industrial buildings totaling 25,000 SF situated on 17.4 acres. There are seven existing tenants, with five on month-to-month leases, one expiring November 2023, and the last expiring December 2024. Rents are below market at $1,723 per acre per month on average, offering immediate upside plus longer term redevelopment potential. Situated 0.3 miles from I-35, 2.7 miles from I-820, 2 miles from I-121, 3.5 miles from I-30, and less than 5 miles to downtown Fort Worth. Existing zoning is K (Heavy Industrial) which allows outdoor storage, heavy equipment storage, truck service and engine repair, and other heavy industrial uses by right. The property is fully fenced, gravel, lit, has security cameras, and over two feet thick of crushed ground improvements designed for heavy trailer and equipment storage. Owner financing available.
For inquiries, reach out to David Guinn at 214-526-3626 ×136 or Richard Quinones at 214-526-3626 ×129.
Baltimore, MD - warehouse with IOS on 13 acres
On behalf of Criterion Group, Gold & Company is leasing this 77,891 SF warehouse with 13 acres of trailer parking adjacent to the Patapsco River terminal in the Port of Baltimore. The site is available for month-to-month occupancy, and comes with heavy power, 454 truck/trailer stalls, and a warehouse space with 20’ ceiling height. The yard is divisible, paved, fenced, and lit. Easy access to I-895 and Route 173.
For more information, reach out to Jim Chivers with Gold & Company at 443-928-7522 or [email protected].
Dallas, TX - 25.7 acre IOS site
Davidson Bogel Industrial is offering for sale this warehouse and outdoor storage hybrid property in the South Dallas Submarket. The property consists of two crane-served, heavy powered, metal warehouses totaling 223,000 SF situated on approximately 25.7 acres of land. The site has excellent access along W. Illinois Rd (31,195 VPD), and is 3 miles from I-35 east. The property is 50% occupied, offering immediate upside opportunity. Zoning is Light Industrial (LI) and is compliant with IOS purposes.
For inquiries, reach out to David Guinn at 214-526-3626 ×136, Keaton Duhon at 214-526-6326 ×135 or Richard Quinones at 214-526-3626 ×129.
FOR LEASE
Dallas, TX - 7.6 acre IOS with shop
Davidson Bogel Industrial is leasing this 7.6-acre lot with fenced outside storage, new asphalt pavement, and exterior/interior lighting throughout. The site contains a 9,559 SF shop with two 12×16 grade level doors, 16’ overhead doors, a 500 SF office and two restrooms. The site has visibility from Loop 12 (with 150,095 VPD) and is adjacent to W. Jefferson Blvd (VPD 11,022). The property has Commercial Service (CS) zoning permitted for truck parking, freight terminal, mechanical equipment, landscaping sales & supply, outside storage, petroleum products, and warehousing.
For inquiries, reach out to David Guinn at 214-526-3626 ×136 or Martin Grossman at 214-526-3626 ×152.
Homestead, FL - 3.4 acres existing IOS
On behalf of Criterion Group, CBRE is leasing this 3.4 acre trailer parking site in Miami-Dade County with easy access to US Route 1. The site is divisible, fenced, lit, and paved. Available for immediate occupancy. MIA Airport is a 34-minute drive, and Fort Lauderdale is a 55-minute drive. The site is paved and striped for over 125 trailer spaces, some double loaded.
For more information, reach out to CBRE broker Larry Genet at 786-496-0440.
Grand Prairie, TX - 35 acre IOS available now
Davidson Bogel Industrial is leasing this rare, fully-improved IOS site with 35 acres available for immediate occupancy. The property is strategically positioned within the Western Lonestar/Turnpike submarket and it offers excellent connectivity to four interstates (161, 360, 30, and 112) with further connections to four others (20, 183, 114, 635). The site is fully paved, fenced, lit, gated, and secured. Current owner is willing to provide TI allowance to qualified tenants. Zoning is Heavy Industrial (HI) with two special use permits in place for Auto Salvage/Inoperable Vehicle Holding Yard and Flea Market.
Link to property overview video: LINK
For inquiries, reach out to David Guinn at 214-526-3626 ×136 or Richard Quinones at 214-526-3626 ×129.
HOW THE OTHER FOOD GROUPS ARE DOING
