IOS Daily - November 20 - Feast on acquisitions from five major IOS players
Timber Hill-Champion add another NTP site. K2-Open Industrial buy Savannah FedEx deal. Marcus Partners buys IOS in NJ. New development exec at Triten. Six new IOS deals.
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ACQUISITION: Timber Hill and Champion acquire Jax truck parking yard. The JV acquired the 5.97-acre yard at 6399 Soutel Drive in Jacksonville, FL for $1.8 million. The site is the fifth yard the joint venture owns and operates within a three-mile radius under the National Truck Parking flag. “The new yard allows us to expand our project for Norfolk Southern without displacing our valued tenants. It’s a win-win for all parties.” -Cary Goldman, Timber Hill
ACQUISITION: K2 Real Estate Capital and Open Industrial acquire Savannah warehouse + IOS. The JV purchased a 75,705 SF warehouse and distribution facility located at 126 Gignilliat Circle, Savannah, GA. The Heavy Industrial-zoned property is currently leased to FedEx Ground (NYSE: FDX) and is part of an 11.36-acre site that is fully fenced and secured with the capacity for excess trailer and truck parking. Justin Horowitz with Cooper-Horowitz secured financing for the acquisition. The K2 team included Robert Kaplain and Mitchell Kaplain.
ACQUISITION: Marcus Partners buys low-coverage warehouse + IOS in Boonton, NJ. The site contains a 111,458 SF warehouse on over 11 acres. Office furniture designer Dauphin is the tenant and entered into a short-term SLB. Binswanger brokers Mike Torsiello and Nick Biedron represented the seller, and Lerman Sanders Realty repped Marcus Partners. “This asset has several compelling characteristics that are not commonly seen in this market. The combination of size, ceiling height, and outdoor storage area are major differentiators for 100 Fulton.” -Todd Minerley, Marcus Partners
PEOPLE MOVES: Triten Real Estate Partners announced Larry Sloan as the Chief Development officer, overseeing industrial and IOS development along with multifamily and mixed-use platform expansions. Sloan was previously with Midway, and has completed $3 billion in projects through his 25 year career.
IOS FOR SALE
FOR SALE: Houston, Texas - 13.2 acre Warehouse + IOS
Address: 6415 Mesa Drive Houston, Texas 77028
Features: Highly stabilized, gated, fenced, utilities, lighting
Close To: 5 minutes from Loop 610 & Beaumont Hwy
Buildings: 2 buildings with total 17,500 SF:
10,000 SF 2 story building with 7,500 SF Class A office and 2,500 SF warehouse
7,500 SF warehouse with metal grade level building with 3 bay doors
Asking Price: $11,500,000
Brokers: REMAX Signature Commercial broker Schuyler "Sky" Pulford at 713-202-3779
FOR SALE: Dallas, TX – 20 acre IOS
Address: 2040 Dowdy Ferry Rd, Dallas, TX 75217
Close To: Int Hwy 20 and Dallas Love Field Airport
Asking Price: $7,500,000
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
IOS FOR LEASE
FOR LEASE: Philadelphia, PA – 14.87 acre IOS
Address: 10169 Northeast Blvd, Philadelphia, PA 19116
Features: Concrete paved and flat
Close To: I-95, I-276, PA turnpike, Bustleton Avenue, Roosevelt Boulevard, Route 1, Woodhaven Rd
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: 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
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