IOS List - May 9, 2023

Good morning. This is IOSList, the welcome mat on the front door of industrial outdoor storage.

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

We want to be the publication of record for the IOS industry. If you don’t see it in IOSList, it didn’t happen.

Let’s dive in.

FOR SALE

Killingly, CT - 20.86 acre IOS development site

This 20+ acre IOS development site is strategically located within a 1.5 hour drive between Boston, Providence, New Haven, Hartford, and Springfield. This New England distribution market is surrounded by 40 million residents within a 200-mile radius. The property is just one mile to a 4-way interchange with I-395, providing access to I-90 to the north and I-95 to the south. Neighbors include Walgreens distribution, UNFI, Amazon, Frito-Lay, International Paper, Lowe’s, and Staples, among others.

Exclusively listed by CBRE brokers Chris Metcalfe at 860-987-4710 and Kyle Roberts at 860-987-4730.

Lynwood, CA - 1.3 acre IOS offered at $9,125,000

This existing IOS site is located directly between LA and Long Beach with close proximity to 105, 110, and 710 freeways. The yard is secured, paved, and fenced and surrounded by industrial users. The sale includes an existing 3,352 SF building. Easy driving distances to Long Beach Airport (11 miles), LAX (12.6 miles), Bob Hope Airport (25.8 miles), and Port of Long Beach (13.5 miles). Link to listing: CLICK HERE

Exclusively listed by Colliers brokers Larry Carlton, Kyle Degener, and Amanda DePierro.

For Sale or Lease - Stanton, CA - 5.58 acre IOS offered at $21,950,000

CBRE is marketing this existing 5.58-acre auto salvage lot with a 1,500 sf office building included. The current tenant has a lease expiration date of 12-31-24 but could vacate sooner. Property is zoned IG, with equipment rental, parking, and private fuel station all allowed by right. The site is within a 30 minute drive time of 3.83 million residents. Easy driving distances to Long Beach Airport (9.6 miles), John Wayne Airport (14.4 miles), Port of Long Beach (17.4 miles), Port of LA (20 miles), LAX (31.2 miles), and Ontario International (39.3 miles). Link to listing: CLICK HERE

Exclusively listed by CBRE broker Ross Fippinger at 949-725-8481.

FOR LEASE

Triad Region, NC - 11.33 acre IOS site in the Carolina Core 

The NC Carolina Core is a 120-mile stretch of central NC from Winston-Salem to Fayetteville with close proximity to Charlotte and the Research Triangle, all along future I-685. The corridor connects 4 megasites designed to attract advanced manufacturing, biomedical, and EV users. This 11.33-acre sits directly between logistics hubs Winston-Salem and Greensboro, with proximity to I-40, I-85, I-73, and I-74. The site will be available for occupancy in June. The site will be graveled and has the capacity to park up to 310 trailers. With Toyota’s battery manufacturing plant, Boom Supersonic’s aircraft facility, and VinFast’s electric behicle factory all locating to the Carolina Core megasites, the area continues to see demand for IOS. Located just a couple miles from I-40, the site provides excellent access to the Triad and Carolina Core regions.

For leasing inquiries, reach out to Ryan Conboy at [email protected] or 336-821-3832.

Santa Ana, CA - 115,490 SF IOS with warehouse + office

This fully-secured, fenced industrial site includes 29,490 SF of warehouse (16’ clear with multiple GL doors) and office space on 115,895 of paved parking lot (27% coverage). The property is undergoing a major renovation currently, including re-paving and striping, new HVAC in the office, new paint, LED lighting, warehouse scrim foil, seismic upgrades, and upgraded electrical. Ownership will consider renovating the office to a tenant’s needs. Zoning is M1-Light Industrial. Address is 922-926 S. Lyon St, Santa Ana, CA. Link to listing: CLICK HERE

For leasing inquiries, please reach out to Voit brokers Mike Bouma at 714-935-2340 or David Fults at 323-791-0038.

Wilmington, CA - 1.1 acre IOS with warehouse and office

For immediate occupancy, IOV and Klabin are offering this infill IOS site in South Bay just 0.8 miles to the Port of LA and 1.8 miles to the Port of Long Beach. The site enjoys proximity to I-110, I-710, and I-405 and is 18 miles to LAX. The property is in the overweight corridor, and offers a fenced and paved yard for trucks, containers, or materials. The building onsite contains a 7,204 sf warehouse with 2 ground-level doors and a 2,000 sf office space.

For leasing inquiries, please reach out Klabin brokers Tyler Rollema at 310-329-9000 ×1140 or Matt Stringfellow at 310-329-9000 ×1120.

BREAKING BANKS

The second-order effects of an aggressive rate-hiking campaign are playing out across the economy. Banks are center stage. Since 2015, virtually all of the increase in real estate lending has happened at small US lenders (blue line below). If you remember algebra: yellow line + blue line = black line:

Compounding the issue, credit tightening is coming at a time when there is a significant amount of real estate loan maturities. Over 50% of the CRE loans maturing in 2023 and 2024 were financed by banks:

Who will step in and provide liquidity if smaller banks continue to tighten the reigns? Life insurance companies, once a reliable source of CRE debt, are picking their spots carefully. Private-label CMBS lenders only have five conduit issues totaling roughly $4.65 billion in the pipeline through June.

It may be time to send your favorite lender some Omaha steaks and card that reads, “thinking of you.”

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

FROM THE WATER COOLER