IOS Daily - November 6 - Catalyst buys IOS in Maryland
Catalyst buys 3.5 acre IOS. Timber Hill's DFW strategy. Maersk fires thousands and cuts capex. DOT spends $290M on port trucking. Six new IOS deals.
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Enough messing around. Now, to business.
ACQUISITION: Catalyst buys warehouse + IOS in Maryland. Catalyst Investment Partners closed on 5681 Main Street in Elkridge, Maryland. The site included a 15,200 SF industrial building on 3.51 acres of outdoor storage. Tenant O’Donnell Metal Deck uses the site for its east coast headquarters. Mackenzie Commercial Real Estate Services brokers worked the transaction: Matthew Curran, Andrew Meeder, and Daniel Hudak.
DALLAS: Timber Hill’s Siegel on their DFW IOS strategy. “In 2021, we created TH Logistics Fund I, and over the next 18 months, we acquired $170M of IOS real estate, with one-third of this portfolio consisting of assets in DFW.” The firm operates parking facilities under the National Truck Parking brand, with locations in Memphis, Miami, Jacksonville, and Dallas.
LAYOFFS: “This is not a diet. This is a reset of the baseline.” That quote was from Vincent Clerc, CEO of Maersk on a recent earnings call. More: “We are in a very uncertain trading environment with significant further downside risk potential — one that could stay with us for quite a while.” Maersk is dropping 9% of global headcount and also plans to cut capex from a projected $10 billion down to $8 billion.
DOT FUNDING: $290 million earmarked for truck capacity. The US Department of Transportation announced a list of annual winners under the Port Infrastructure Development Program. Of 41 award winners, 11 feature significant improvements aimed at speeding truck freight in and out of coastal and inland ports. Read the article for full breakdown of winners and plans.
IOS FOR SALE
FOR SALE: Socorro, TX – 4.85 acre IOS
Address: 9709 Alameda Ave, Socorro, TX 79927
Features: Fenced yard with two gated entries
Close To: Loop 375 & I-10, frontage on Alameda Avenue (State Highway 20), Zaragoza / Yselta International Port of Entry and El Paso International Airport
Buildings: 1,067 SF building with 3,720 SF shed size, 576 SF separate enclosed storage area
Asking Price: $1,100,000
FOR SALE: Jurupa Valley – 4.68 acre IOS
Address: 5465-5467 28th St, Jurupa Valley, CA 92509
Features: Fenced, electric gate, water, gas, electricity, and a septic tank for each home
Close To: Lake Evans, the Historic Riverside Downtown, the Agua Mansa Industrial Corridor, Ontario International Airport
Buildings: 2,700 SF two homes, a 3bed/2bath and a 2bed/1bath,
Asking Price: $6,500,000
Broker: Matt Mahowald at 310-756-5511
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
IOS FOR LEASE
FOR LEASE: Columbus (Lockbourne), OH – 10-20 acre IOS
Address: 433 London Groveport Road, Lockbourne, OH 43137
Features: Graveled, fenced, gated
Close To: Rickenbacker International Airport
Buildings: 2,000 SF office
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 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
ONE MORE THING
The trucking bloodbath has also taken down a bank. The FDIC has seized Iowa-based Citizens Bank and its exposure to commercial trucking is the cause.
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley)
Nov 4, 2023
These are all golden. See how many you can drip out on your next conference call.
SECURE THE MUG!
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