IOS Daily - November 15 - Trux Parking & Albany Road add Greensboro yard

NEWS ROUNDUP

ACQUISITION: Trux-Albany Road add another truck park to their portfolio. A joint venture between Albany Road Real Estate Partners and Trux Parking purchased 3414 Sandy Ridge Rd in Greensboro, NC. The site provides easy access to GSO airport, I-40, I-840, and I-73. JLL brokers Michael Scarnato, Pete Pittroff, Allan Parrott, and Michael Lewis represented the seller, Piedmont Land Development.

ACQUISITION: Alterra acquires Baltimore IOS for $4.5 million. The Alterra team strikes again with a new IOS purchase at 4221 Shannon Drive in Baltimore, MD. The site contains a 10,000 SF industrial building on 4.7 acres. The full purchase price was $4,524,666 or $962,695 per acre. Brokers Joseph Kassin and Steven Pollan with Kassin Sabbagh Realty handled the transaction.

YELLOW: Landlords object to Yellow’s offer to walk from lease obligations. Yellow is attempting to extract itself from 178 leases. In one instance, competitor and landlord Estes Express Lines said Yellow neglected truck terminals in Milwaukee, Charlotte, and Kearny causing $27.9 million in damage. Yellow’s offer to repay for damage? $652,000.

LENDING: What is a SLOOS report and how does it affect IOS? The Fed runs a Senior Loan Officer Opinion Survey (SLOOS), to take a pulse on lending standards. Results from October’s SLOOS? Credit standards: 70% report “somewhat tightened.” Lending demand: 60% report “weaker demand.” Lending standards: present conditions are “somewhat tighter” and forward conditions will “remain the same or tighten further.” Get ready to close with 100% equity, folks.

FOR SALE: Columbus, GA - 8.38 acre low-coverage industrial at 6.50% cap

Address: 1301 Blanchard Blvd, Columbus, GA 31901

Features: Corporate NNN lease with Sunbelt Rentals, Inc., 12.5 years of term, $1.75M+ in improvements

Close To: I-185, US-27, Fort Moore

Buildings: 2 buildings totaling 30,165 SF

Zoning: LI

Info: LINK

Asking Price: $3,000,000

Brokers: Rory Shelby at 407-222-5256, Scott Gould at (704) 975-8611, or Chris Biuso at (813) 210-7741

FOR SALE: Tucson, AZ – 7.86 acre IOS at 6.5% cap

Address: 4570 E. Irvington Rd, Tucson, AZ 85714

Features: Fenced and stabilized

Close To: I-10, Davis-Monthan Air Force Base

Buildings: 3,100 SF building

Info: LINK

Asking Price: $4,350,000

Lease: 3% annual rent bumps, NNN

Broker: Northmarq has the listing: EMAIL

FOR SALE: Montclair, CA – 0.88 acre IOS

Address: 4776 Brooks St, Montclair, CA 91763

Close To: Ontario International Airport and Port of Long Beach

Zoning: SP/I

Info: LINK

Asking Price: $1,815,750

Broker: Arvin Poblete at 949-607-8402

FOR LEASE: Houston, TX – 10 acre IOS

Address: 13020 Donegal Way, Houston, TX 77047

Features: Fenced, gated, recently resurfaced with 6" crushed concrete base and 2" asphalt millings

Close To: Beltway 8, SH-288, Hobby Airport

Info: LINK

Rental Rate: $2,500/acre/month Gross

Brokers: Jason Scholtz at 832-683-0004 or Brad Beauchamp at 713-830-2103

FOR LEASE: Houston, TX – warehouse + IOS on 3 acres

Address: 12301 Amelia Dr, Houston, TX 77045

Features: Capital improvements just completed, 3 acres stabilized yard, 18 ft clear height, 3 phase power, fully fenced & secure

Close To: Quick access to Hwy 288

Building: 4,900 SF drive-through warehouse, 672 SF mobile office

Info: LINK

Brokers: James Mashni at 713-534-1896 or Patrick McKiernan at 713-534-1888 or Juan Fraga at 832-528-95950

FOR LEASE: Tulsa, OK – 1.5 acre IOS

Address: 4210 Elwood, Tulsa, OK 74107

Close To: Tulsa International Airport

Info: LINK

Rental Rate: $0.88 /SF/YR

Broker: Levi Walker at 918-379-1003