IOS Daily - May 28 - Stonemont sells 2.8 acre IOS in Inland Empire

NEWS ROUNDUP

ACQUISITION: Stonemont sells 2.8 acre IOS in Inland Empire. Stonemont Financial Group sold 14841-14859 Whittram Avenue in Fontana, California. The property includes 2,851 SF of indoor space. The Stonemont deal team included Ben Law, Ken Lankford, and Ryan Meehan. The MacLeod & Co. team of Chase MacLeod, Ethan Flor, and Jean Carlo Castillo represented Stonemont in the deal.

ACQUISITION: K2/Bear acquire their third ISF in Upstate SC. The JV purchased 10 Hudson Drive in Spartanburg, South Carolina. The 9-acre property includes a 12,000 SF building with 12 oversized doors. The K2 team includes Mitch and Rob Kaplain. Alex Shields and Carl Barnard of Bridge Commercial brokered the deal. For leasing inquiries, contact Rob Williams and Carter Keller at Stream Realty Partners. Justin Horowitz with Cooper-Horowitz arranged financing.

ACQUISITION: Devli/Deugen JV buys 7 acre IOS in Newark, NJ. A joint venture between Devli RE and Deugen Development has acquired 449 Doremus Avenue in Newark, New Jersey. Formerly a power plant, the property will be redeveloped to meet the growing need for warehouse facilities, trailer parking, and outdoor storage. The deal team included Devli CIO Mark Devli and Deugen CIO Kyle Mathis. For leasing inquiries, contact Jason Crimmins, Alex Conte, and Peter Murano of Blau & Berg.

JOINT VENTURE: Centerbridge and Modal combine forces in IOS-focused JV. Centerbridge Partners has joined with London-based Modal in a joint venture focused on acquiring EUR 500 million in IOS properties across the UK. The JV’s first purchase is of a 7.4 acre IOS in Manchester. The Centerbridge team includes Steve Skaar. The Modal team includes Nicholas Schiloff, Matt Sherlock, Morgan Baker, and Hayden Scillitoe.

READ: FedEx to close 7 service centers across the US in 2024.

FOR SALE: Colton, CA - 2.72 acre truck facility

Address: 151 Fogg Street, Colton, CA 92324

Features: Fenced, secured, 80% asphalt paved, truck canopies, active CUP for truck and trailer repairs

Close To: I-10, 60, I-215, and Ontario Intl. Airport

Buildings: 648 SF building/office

Zoning: M-1 (Industrial Light)

Asking Price: $5,000,000

Info: LINK

FOR SALE: Kansas City, KS - 17 acre IOS

Address: 1161 South 12th Street, Kansas City, KS

Features: Gravel, fenced, gated, lit, and served by utilities

Close To: I-70, I-35, I-635, I-670, and I-29

Zoning: M-3 (Heavy Industrial)

Info: LINK 

FOR SALE: Tacoma, WA - 1.66 acre IOS at 6.5% cap rate

Address: 10107 Portland Avenue East, Tacoma, WA 98445

Close To: Port of Tacoma

Buildings: 905 SF

Zoning: CE (Community Employment)

Asking Price: $3,600,000 (NOI is $216,930)

Info: LINK

FOR LEASE: Covington, GA - 1-12 acre IOS

Address: 1597 Access Road, Covington, GA 30014

Features: Secure, lit, fenced, 6-in GAB surface, and parking for 400 trailers

Close To: Directly off I-20

Buildings: 3,000 SF office

Zoning: CG (General Commercial)

Info: LINK

FOR LEASE: Alpha, NJ - 0.5 to 5 acre truck parking

Address: 801 Vulcanite Avenue, Alpha, NJ 08865

Features: Graveled, lighting, security cameras, fencing can be added

Close To: Rt. 22, I-78

Zoning: Industrial

Info: LINK

FOR LEASE: Denton, TX - 1.7 acre IOS

Address: 209 North Mayhill Road, Denton, TX 76208

Features: Fenced, gated, and parking for 75 trailers

Rental Rate: $7,000/month

Info: LINK