IOS Daily - November 17 - Major fire on Freeway 10

NEWS ROUNDUP

FREEWAY 10 FIRE: Major fire shuts down prime logistics route in Los Angeles. Hazmat teams will work around the clock to clean up the damage on Interstate 10, according to Governor Newsom, who said the scale of the fire’s damage is “substantially greater” than the collapse of a portion of I-95 in Philadelphia. “You name it, we saw it stored at this site,” said Governor Newsom, who toured the location on Sunday. UPDATE: core samples came back better than expected and the affected freeway section won’t have to be torn down.

ACQUISITION: Zenith IOS closed 2 acre IOS in Portland, OR. Zenith IOS has closed on a two-acre property located at 17090 NE San Rafael St. The off-market acquisition was brokered by Devin Kopas of JLL. “We’ve been able to add more than $25 million in assets to our portfolio in 2023 alone by identifying strategic opportunities for expansion, and Portland is a market we’ll continue to play an active role in monitoring.” -Ben Atkins, Zenith CEO and co-founder

ACQUISITION: Brennan Investment Group and Global Gate Capital acquire 10 acre IOS in New Jersey. The site includes a 28,600 square foot, cross-docked building with 24' to 28' clear heights and 16 drive-in bays, allowing for a wide variety of uses. "Industrial outdoor storage and industrial service facility space is increasingly scarce in North and Central New Jersey, as user demand far exceeds the supply of functional, zoned sites." - Chris Massey, Brennan Investment Group

LENDING: Hard landing? Soft landing? No landing? In short, nobody knows what is going on. The rate cuts seems to have worked to de-value asset prices. Consumer demand is cooling right before holiday shopping season. High mortgage rates have frozen the single family home market. Everyone who wants a job can get one. The bond market says: 2% chance of a rate cut in January, 32.7% chance of a cut by March, and 49.6% chance of a cut by May.

FOR SALE: Orlando, FL – 1.35 acre warehouse + IOS

Address: 11052 Satellite Blvd, Orlando, FL 32837

Features: Corp. guaranteed NNN lease, 3% annual increases, tight industrial sub-market

Close To: Hwy 441, Central Florida Pkwy, Florida Turnpike, ORL Airport

Buildings: 9,534 SF warehouse with 3 grade-level doors and open shop space

Zoning: IND-4

Info: LINK

Asking Price: $2,250,000 (7.00% cap)

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

FOR SALE (Corrected cap rate!): 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 (6.50% cap)

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

FOR SALE: Glendale, Arizona – 4.9 acre IOS

Address: 6424-6430 W Orangewood Ave, Glendale, Arizona 85301

Features: Fully fenced and secured site, crushed asphalt/ABC throughout yard, located in Opportunity Zone

Buildings: 2 office buildings, storage building, and 9,000 SF, partially enclosed shop

Zoning: M-1 (Light Industrial), City of Glendale

Info: LINK

Asking Price: $4,500,000

Brokers: Max Schumacher at 480-214-9403 or Patrick Sheehan at 480-214-9405 or Jack Hansen at 480-214-9421

FOR LEASE: Milliken, CO – 7 acre IOS

Address: 12152 County Road 46, Milliken, CO 80543

Features: Fully fenced, ample parking

Close To: Hwy 60, Loveland and Greeley

Buildings: 2,000 SF modular office space

Zoning: USR - Heavy Industrial

Info: LINK

Rental Rate: $1,750/acre/month

Brokers: AJ Goldsmith at 970-628-3717 or Tyler Murray at 970-267-7404 or Ty Mashek at 303-525-3125

FOR LEASE: Baytown, TX – 47.4 acre IOS

Address: 2828 FM 1405, Baytown, TX 77523

Features: State of the art truck terminal, fully fenced and lit, ESFR sprinkler system, 214 dock doors (9’x10’), 935 trailer parks, 251 car parks, Chambers County tax incentives available, guard shack potential  

Close To: 99/Grand Parkway, I-10 and Port of Houston

Buildings: 214-door truck terminal; 164,640 SF building with with 24’ clear height, 6,000 SF to-suit office, 10,000 SF truck maintenance facility

Zoning: Industrial

Info: LINK

Brokers: Gray Gilbert at 713-301-7252 or Chris Haro at 713-275-9620

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