IOS Daily - November 1 - Transport developing spec IOS in Indiana
Transport builds spec. Matthew sells IOS in Atlanta. Fortress pays big for low-coverage in LA. IOS estate sale in Maryland. Eight new IOS deals.
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DEVELOPMENT: Transport Properties developing spec IOS in Northwest Indiana. Transport Properties is developing a 21 acre trailer yard with immediate access to I-80. The site will be delivered in Q2/Q3 of 2024 and will contain over 750 trailer spots with the ability to add a truck repair building. Leasing inquiries: Zeke Rowan, Adam Haefner, Marty Mikaitis with Avison Young.
DISPOSITION: Matthews sells IOS in Atlanta metro. Matthews brokers Davis Kelly and Harrison Auerbach just sold a low-coverage site in Marietta, GA. The site contained 4 buildings totaling 81,000 SF on 17 acres, zoned heavy industrial.
RECORD PRICE: Fortress buys low-coverage site in LA for $10.5M. "This facility sold for just over $355 per square foot, which is one of the top five highest values for industrial properties sold int he submarket over the past 90 days.” -Jason DuFault, KW Commercial, seller rep. The deal team from Fortress included Greg Pearson, Ryan Dunlap, and Mason B. Fortress was repped by Phillip DeRousse with Lee & Associates.
ESTATE SALE: IOS estate sale in Jessup, Maryland. MacKenzie Commercial brokered a $1.2 million sale of 7402 Montevideo Road in Jessup, MD. The site is partially leased to 356 Transportation, Inc. Mackenzie brokers Dennis Boyle and Graham Sevy represented the seller, the Estate of MacDonald Family, LLC. MacKenzie brokers Andrew Meeder, Matt Curran and Dan Hudak represented the buyer.
TRUCK CHARGING: NAIOP panel discusses EV truck charging. Where can trucks linger on-site for an hour while charging, without disrupting loading and unloading? “We’re talking about EV-charging courts. So, you don’t want to necessarily have your trucks just sitting there…instead they’re going to come bring the trailer in, and then you’re going to have them go to a separate place for charging.” -Matt Carroll, Avison Young
IOS FOR SALE
FOR SALE/LEASE: Houston, TX - 2.54 acre low-coverage industrial
Address: 8428 Market St, Houston, TX 77029
Features: Fenced and stabilized yard, 1.04 acres of concrete trailer parking, 1.5 acres of excess storage yard and LED lights
Close To: I-10, 610, Port of Houston, Ellington Field and William P. Hobby Airport
Buildings: 15,000 SF office and warehouse space, 5,000 SF office space, tilt wall construction, 2 dock high loading doors, 24’ clear height, 2 drive-in bays
Asking Price: $3,900,000
Rental Rate: $7,200/AC/Month
FOR SALE: Chicago, IL- 7.02 acre warehouse + IOS
Address: 12001 S Avenue O, Chicago, IL 60617
Features: Paved, lit and fenced
Close To: I-90, I-94 and I-57, Gary Chicago International Airport, Chicago Midway International Airport, Downtown Chicago
Buildings: 11,000 SF warehouse/office, 5 grade-level doors
FOR SALE: Oakland, CA – 1.72 acre IOS
Address: 966 81 St. Ave., Oakland, CA
Features: Fully fenced, secured (12 ft block wall), paved yard
Close To: I-880, Downtown Oakland, Port of Oakland and Oakland Airport
Buildings: 1,500 SF of office and 500 SF maintenance shed
Asking Price: $6,750,000
FOR SALE: Evans, CO - 3.92 acre low-coverage industrial
Address: 3901 W Service Road, Evans, CO 80620
Features: Paved parking area, gravel lot, fenced 7 gated, 200A 3P, utilities onsite, and ±235 FT of frontage
Close To: Highway 85, Union Pacific Railroad facility, Greeley-Weld County Airport
Buildings: Building 1: 6,100 SF office space with 8,300 SF warehousing, 8 10' x 12' drive ins, metal construction. Building 2: 7,682 SF, four 9' x14' drive in, metal construction
Zoning: Current zoning is RCR, but it is being changed to C-4 zoning. Outdoor storage is allowed through principle use of the premises under C-4 zoning
Asking Price: $3,400,000
IOS FOR LEASE
FOR LEASE: Cleveland, TN - 2.89 acre truck parking
Address: 1625 S Ocoee Street, Cleveland, TN 37311
Features: Paved lot, asphalt, graveled and fenced, parking area, utilities and lights
Close To: Five miles to I-75 at exit 20 and Chattanooga Metropolitan Airport
Zoning: Heavy Industrial
Rental Rate: $5,000 /month NNN
Broker: Michael Rogers at 423-504-3313
FOR LEASE: Puyallup, WA – 7.33 acre IOS
Address: 7702 River Road E, Puyallup, WA 98371
Features: Three 3 lease options, parking, outside storage, self-storage, fully and partially graveled, office space and restrooms, full fenced, security cameras, lighting throughout site, 172 trailer stalls
Close To: I-5, WA-167, Port of Tacoma
Option 1: fully graveled, partially paved, office space with restrooms, fully fenced, security cameras, light, 172 trailer stalls.
Option 2: 0,780 SF Building, BTS office, 8 over sided grade doors, power, fencing, lit with security.
Option 3: Build to suite 138,886 SF available, 14 dock high doors, 2 grade level doors, 135' truck court, 158 car parks
Zoning: MUD - Pierce County
Rental Rate: $8,750/acre/month NNN
FOR LEASE: Decatur, IL – warehouse + 7.1 acre IOS
Address: 815 E. Kenwood Ave Decatur, IL 62526
Features: Paved parking, 3 phase power, utilities onsite, loading docs
Close To: I-72
Buildings: 38,400 SF warehouse/manufacturing space and 2 loading docks, 1,600 SF office space
Rental Rate: $11,200/ Month Full Service Gross
Broker: Ed Milani at 727-698-3727
FOR LEASE: East St. Louis, IL – 19 acre ISF
Address: 895 Madison Rd., East St. Louis, IL 62201
Features: Compact gravel/asphalt millings, fully fenced, lit, utilities onsite, highway visibility, floor drains LED lighting, air-line and oil drops, concrete apron, heavy power
Close To: I-55, Gateway Speedway
Buildings: 1) 10,127 SF with six (6) 16′ x 14′ drive-in doors and two (2) 14′ x 14′ drive-in doors; 2) 1,848 SF with three (3) 12′ x 14′ drive-in doors; 3) 192 SF office trailer
Zoning: M2 (Heavy Industrial)
Rental Rate: $4,000/acre per month NNN with $250/acre per month NNN expenses
ONE MORE THING
Heard on the "street": Pension funds and other institutional owners are looking at the "forced" sale of quality assets either to reallocate their portfolios to avoid over-allocation to real estate, or to satisfy redemption requests from LPs. They aren't selling their crap, since… twitter.com/i/web/status/1…
— Jeremy Glantz (@JeremyGlantz)
Oct 27, 2023
Forced selling?? Tell me more.
SECURE THE MUG!
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