IOS Daily - May 20 - CBRE facilitates recap of $100M ISF portfolio

NEWS ROUNDUP

FINANCING: CBRE recaps $100M portfolio of ISF properties. Through a JV with Moir Park Capital and Hempel Real Estate, CBRE has capitalized its $100 million portfolio of 36 fully-leased industrial service facilities (ISFs). The portfolio is comprised of 201 acres with nearly 630,000 SF of industrial assets across 20 states. The CBRE team was led by Judd Welliver, Bentley Smith, Michael Caprile, Ryan Bain, Zach Graham, Joe Horrigan, Will Pike, and Victoria Gomez.

ACQUISITION: K2/Bear buy 3.3 acre truck terminal in Kernersville, NC. A partnership between K2 Real Estate Capital and Bear Development Holdings has purchased 604 Indeneer Drive in Kernersville, North Carolina. The property consists of an 8,845 SF truck terminal with 28 enclosed positions and additional secured trailer parking. Justin Horowitz of Cooper Horowitz arranged the financing. The seller was Lucern Capital, led by Frank Forte. The K2 team is led by Mitch Kaplain and Rob Kaplain.

UPDATE: In the May 17 edition of IOSList, we reported on the sale of 2720 Annapolis Road in Baltimore, Maryland, to Jadian IOS. We can now report that the property sold for $7.8 million. The seller was Houff Transfer, and the deal was brokered by Steven Bentolila of Bento Property Group.

ACQUISITION: R&G sells 3.86 acre IOS in Phoenix for $4.5M. The Sheehan | Schumacher Industrial Team of Rein & Grossoehme has brokered the sale of 1325 East Elwood Street in Phoenix, Arizona. The sale price was $4.5 million. The site features buildings totaling 11,500 SF. The Sheehan | Schumacher deal team included Max Schumacher, Patrick Sheehan, and Jack Hansen.

LEASE SIGNED: Colliers leases 1.1 acre IOS in Fremont, CA. A Colliers team led by Edward and Emerson Hofer represented the landlord, North Palisade Partners, in the leasing of 300 Whitney Place in Fremont, California. Paul Griffiths and Gabe Regalado of Newmark represented the tenant, Full Swing Logistics.

READ: J.D. Salazar of Champion Realty breaks down the ISF market.

FROM OUR PARTNERS

FOR SALE/LEASE: Somerset, NJ - 3.1 acre IOS

Address: 243 Belmont Drive, Somerset, NJ 08873

Features: Trees cleared, land flattened

Close To: I-287, I-78, I-95, US-22, RT1, 41 miles to NYC, 34.7 miles to Port Newark

Building: 16,000 SF warehouse/office, 1 tailgate, 1 tailgate platform

Zoning: BI (Business and Industry)

Info: LINK

FOR SALE: Commerce, GA - 4.6 acre IOS

Address: 4664 Maysville Road, Commerce, GA 30529

Features: Fully-fenced, cleared, partially graded and flat land

Close To: I-85

Zoning: GI (General Industrial)

Asking Price: $2,200,000

Info: LINK

FOR SALE: McKees Rocks, PA - 12.29 acre IOS

Address: Angelina & Intermodal Way Street, McKees Rocks, PA 15136

Features: Leveled, intermodal access

Close To: Pittsburgh Intl. Airport, Pittsburgh CSX Intermodal terminal, Hwy 51, Hwy 65, I-79, I-279

Zoning: I-1 (Industrial)

Info: LINK

FOR LEASE: Phoenix, AZ - 1-4 acres warehouse + IOS

Address: 24348 North 11th Avenue, Phoenix, AZ 85085

Features: Total 4.11 acres, three fenced yards at 1 acre, 3 acres, or 4 acres

Close To: SR-51 freeways, I-17, TSMC Chip Plant, and Deer Valley Airport via Loop 101

Buildings: 10,000 SF stand-alone warehouse with grade-level door

Zoning: L-2 (allows for contractor yard, laydown yard, outdoor storage, landscaping, vehicle storage, commercial parking, equipment storage)

Rental Rates: $6,500/acre/month

Info: LINK

FOR LEASE: Brooklyn, NY - 2.25 acre low-coverage industrial

Address: 360 Kingsland Avenue, Brooklyn, NY 11222

Features: Fully-secured, private lot with off-street loading and abundant parking

Close To: I-278

Building: 17,000 SF warehouse, 4,000 SF finished office, 18' ceilings, and multiple loading positions

Zoning: M3-1 (Manufacturing)

Info: LINK

FOR LEASE: Newark, NJ - 1-9.5 acre IOS

Address: 646-696 Frelinghuysen Avenue, Newark, NJ 07114

Features: Paved, lit, fenced, 2 points of ingress and egress, conceptual parking for 262 40’ containers and 115 53’ trailers

Buildings: 25,000 SF (or larger) building to be constructed

Close To: Routes 1 and 9, I-78, and Newark Liberty Intl. Airport

Rental Rates: Upon Request

Info: LINK