IOS List - May 5, 2023

Turnbridge pays $7M an acre. News on Jadian and Rexford. Six new IOS listings. Perfection is a tax.

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Now onto the news and listings!


Spirit Realty investor presentation, February 2023

Spirit Realty breaks out IOS in investor presentation. Spirit Realty, the net-lease REIT, is now breaking out its IOS properties within its broader industrial portfolio. Check out slide 7 in the 2022 investor presentation deck, where they detail the quarterly acquisitions by product type and tenant. IOS accounted for 9.1% of dollars deployed in Q1 of 2022 and 17.8% of dollars deployed in Q4 of 2022. Expect to see more IOS love in future 10-K’s and 10-Q’s.

Jadian grabs a North Charleston IOS yard. Jadian closes its second deal of the week, this time in North Charleston, SC. The “working engine” of the tourism and port city, North Charleston is home to several huge industrial users. Boeing makes the 787 Dreamliner in North Charleston, and many parts suppliers have followed them into town.

Rexford is curing the incurable. Rexford Industrial Realty (NYSE: REXR) saw 1st quarter earnings up 31.9% from the 4th quarter of 2022. “We continue to see healthy levels of tenant demand, amidst a persistent, virtually incurable supply-demand imbalance within infill Southern California, the nation’s highest demand industrial market and fourth largest in the world, behind only the entire countries of the US, China, and Japan.”

Turnbridge buys IOS for $7M per acre. Turnbridge Equities announced the acquisition of a 3.6 acre site in Rancho Dominguez, CA for $25.5 million. The South Bay site enjoys proximity to he ports of LA and Long Beach and is close to freeways 710, 91, and 405. The Turnbridge team was drawn to the infill, port-adjacent, and high barrier-to-entry asset within a 1-hour drive time of 14.3 million people.

Otherwise, a slow news week. Come on guys, do something. Here’s some inspiration:


Freehold, NJ - for sale or lease - 5.87 acre IOS

Logistics Realty is offering an IOS property for sale (asking $3.3 million) or for-lease (asking $350,000 annually). The site is zoned M-1 heavy industrial allowing for IOS uses: truck terminal, waste transfer, manufacturing, warehouse, contractor supply, construction yard, auto export. The property offers two structures: one is a 11,000 SF building with 8 drive-in doors and 2 docks, the other is a 6,000 SF building with 2 drive-in doors. The site is 42 miles from Port Newark/Elizabeth.

For inquiries, reach out to Bill Hettler at Logistics Realty at 732-673-0123 or [email protected].

Merced, CA - 40.8 acre warehouse + IOS combo

Cushman-Wakefield is offering this unique opportunity in Merced, CA, an inland logistics area that is strategically placed in the Central Valley area between San Fran/San Jose, Fresno, and Sacramento. The site boasts 6 warehouse buildings totaling 44,000 SF and more than 15 acres of improved yard. Close proximity to the new Merced-Atwater Expressway on Santa Fe Drive with over 18,000 VPD. There are multiple existing tenants on short term leases with the potential for significant upside. The coverage ratio is a very low 2.5% which will allow for significant development opportunities. Pricing target is $5.3 million. Do not disturb tenants!

Exclusively listed by Cushman & Wakefield brokers Blake Rasmussen at 209-481-7044 and Steve Dunn at 209-992-0953.

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.


Commerce City (Denver), CA - 14 acre IOS

CBRE is offering this 14.04 acre outdoor storage site for immediate availability. The site is a stabilized, fully-secured yard with fencing and lighting. It can accommodate a single or multi-tenant configuration. Zoned I-2 for heavy industrial use, including truck parking, laydown yard, material storage, or equipment rental and sales. The site can hold 423 trailer parking spaces. Rail is adjacent to the site. Nearby highway proximity with I-76 at 2.8 miles away and Hwy 2 only one mile away.

Exclusively listed by Mike Camp with CBRE at 720-528-6313.

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).

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).


As anticipated, the Fed increased the Fed Funds rate by 25 bps on Wednesday. During the presser, J-Pow noted:

“Real rates are 2%, which are meaningfully above what most people would consider restrictive. Policy is tight.”

“A particular focus going forward is what’s happening with credit tightening and what effect is that having on lending.”

Market Reaction

Rates are down across the curve. The current odds of a hike on June 14th are just 16%. The September meeting has a 75% probability of a cut.

The jobs report arrives on Friday, which will be telling since the Fed has so far been unable to knock people off their W-2’s.



AI will impact every industry. Starting with the mundane, the routine, and the tedious processes we all dread. Searching muni-code to determine local zoning and permitted uses is one of those boring tasks. We fixed that by creating an AI-enabled zoning search bot called

How does it work?

Simple. Input your city, general land use, and the permitted use you want to verify (truck parking, outdoor storage, etc). In the background, the application interfaces with OpenAI to produce details of the exact zoning code you are seeking, with direct links to the zoning-code for your verification. Give it a try now:

Click above to try ZoningScout!

How much does it cost?

The tool is free for our IOSList subscribers. Spread the word.


Whatever you are working on, just get it out already.