IOS Daily - November 10 - Triten buys 6.85 acre IOS in Philadelphia
Triten buys Philly via Binswanger. Transport clearing IOS site in Chicago. Realize Truck Parking pairs with Trucker Path. ULI Emerging Trends. Six new IOS deals.
Good morning. This is IOSList, and we are organizing the entire IOS industry.
Now, let’s get to it.
DISPOSITION: Binswanger brokers sale of fully leased IOS in Philadelphia. Triten Real Estate Partners acquired the property at 2625 and 2503R Wheatsheaf Lane in the Port Richmond neighborhood of Philadelphia. The facility is 57,000 SF on 6.85 acres and boasts 30 exterior loading docks, 4 drive-ins, and frontage on I-95. The deal was brokered by Binswanger’s Mid-Atlantic Industrial team, led by Chris Pennington with assistance from Tim Pennington, Mike Torsiello, and Nick Maras. Danny Coffman with Triten ran the acquisition.
DEVELOPMENT: Transport Prop clearing and grading a new IOS development. Transport Properties is building a 30-acre truck parking facility at 3000 E. 106th St. in Chicago. Windy City Truck Parking is handling leasing, reach out at (773) 913-2495.
TRUCK PARKING: Realize Truck Parking is adding their on-demand truck parking locations to the Trucker Path app. “We believe the truck parking problem can be solved more quickly and cost effectively with a solution that better utilizes current facilities.” -Cody Horchak, founder and CEO of Realize. Realize current offers locations in Forth Worth, Las Vegas, and La Vergne, TN, with upcoming plans for national expansion.
TAKEAWAYS: ULI/PwC Emerging Trends Report. We read 139 pages so you don’t have to. 1) Hybrid work schedules are here to stay; 2) Insurance costs are wrecking underwriting; 3) Sunbelt still winning the in-migration game; 4) New “core” assets include data centers, student housing, and medical office; 5) The wall of debt maturities will worsen bank liquidity; and 6) IOS didn’t make the report ?!?
Don’t worry, we have it on good authority that next year’s report will highlight the wonders and strength of IOS.
IOS FOR SALE
FOR SALE: Tucson, AZ – 7.86 acre NNN IOS on 6.50% cap
Address: 4570 E Irvington Rd, Tucson, AZ 85714
Features: Fully fenced, new NNN lease, 3% annual increases, national tenant (Ritchie Bros. Auctioneers)
Close To: I-10, Tucson Electric Power, Core & Main, and EquipmentShare, Tucson International Airport
Buildings: 3,100 SF building
Asking Price: $4,350,000 - 6.50% cap rate
Broker: BJ Feller at 312-240-0194
FOR SALE: Stockton, CA – 9.75 acre IOS
Address: 4146 E Highway 99, Stockton, CA 95215
Features: 130 truck & trailer parking space and all utilities available
Close To: Interstate, Hwy 99 and Port of Stockton
Zoning: IL (Light Industrial)
Asking Price: $5,999,999
Broker: Gurbinder Mangat at 408-355-5700
FOR SALE: Atlanta, GA - 8.03 acre (4.03 AC planned and usable) IOS
Address: 1055 Key Rd, Atlanta, GA 30316
Features: Prime IOS development site, entitled and permitted
Close To: 1.9 miles to I-285 and 4.4 miles to Atlanta Airport
Zoning: Light Industrial
Asking Price: $1,975,000
IOS FOR LEASE
FOR LEASE: Chicago, IL – 6.42 acre ISF
Address: 4400 S Racine Avenue, Chicago, IL 60609
Features: Newly paved, LED lighting in lot and on building, perimeter fencing, 2 electronic access gates
Close To: I-90/94, I-55, Class I railyards (Norfolk Southern, BNSF, CSX)
Buildings: 19,853 SF building, 7,100 SF office, remainder shop space, 5 drive-thru maintenance bays, 1 wash bay, potential for on-site fueling
Broker: Matt Knafel at 317-385-9808
FOR LEASE: Louisville, KY – 2.83 acre IOS
Address: 317 Wabasso Ave, Louisville, KY 40209
Features: Graveled and fenced, with multiple access points
Close To: I-264, I-65 and Louisville International Airport
Rental Rate: $8,490 /month
FOR LEASE: Minneapolis, MN – 7.5 acre IOS (multiple parcels)
Address: 322 W 59 1/2 St, Minneapolis, MN 55419
Features: Fully fenced and paved, active rail spur (BNSF, Canadian Pacific, and Progressive)
Close To: Interstate 35W, MSP Airport and downtown Minneapolis
Buildings: 264,947 SF outdoor storage, total 61,677 SF buildings area, and 14 drive-in doors
ONE MORE THING - POWER UP!
Talked with an industrial developer last week who is building a 160,000 sq ft warehouse and is supplying it with 3x as much power as a similarly sized property he built 5 years ago.
He's future-proofing it as he believes there will be considerably more demand for power in… twitter.com/i/web/status/1…
— Chad Griffiths (@ChadGriffiths)
Oct 22, 2023
SECURE THE MUG!
→Try our resources for IOS pros:
Advertise: Do you want your property listing, closing announcement, or job opening to be seen our army of 7,000+ IOS pros? Click to submit listings here: Submit Listings.