IOS Daily - November 8 - Ledo and St. Clair buy 83 acres near Austin

NEWS ROUNDUP

ACQUISITION: JV buys South Austin industrial + IOS site. LA-based Ledo Capital Group and SoCal based St. Clair Commercial Real Estate teamed up to buy 82.57 acres just outside of Lockhart, TX. Up to 30 acres could be used for IOS space in addition to distribution and manufacturing uses. Luke Wheeler with Transwestern’s Austin office helped broker the deal for Anthony Brent and Ryan Martin with Ledo and Greg St. Clair. 

TRANSACTION VOLUME: Four brokerage earnings calls paint a rough picture. Cushman is focusing on reducing debt load and selling off non-core lines of business amidst a net loss of $33.9M for Q3. JLL saw leasing revenue drop 22% and investment sales fall 32% year-over-year. CBRE reported a 49.3% drop in cash flow from the prior year as they target $150 million in cuts. Newmark was a bright spot, with revenue falling only 7.3% as it took market share from rivals.

WE-BANKRUPT: The WeWork business model of “Regus + napping pods + craft beer” has finally succumb to the realities of finance. And Adam Neumann is trying to get involved again:

CONGESTION: Cost of trucking congestion peaked at $94.6 billion. Research from the American Transport Research Institute found annual trucking congestion costs over $94 billion, and generated 1.27 billion hours of delay. The report details the top states and metro areas for high congestion, with NYC ($5.5B), Miami ($2.6B), and Chicago ($2.6B) metros listed as the worst offenders.

FOR SALE: Houston, TX – 3.17 acre IOS with NNN lease to Boxx Modular

Address: Cutten Rd & Gant Rd, Houston, TX 77066

Features: Fully stabilized, fully fenced

Close To: Port of Houston and Houston George Bush Intercontinental Airport

Info: LINK

Lease: $126,712 /year, NNN, 2% annual escalations

Brokers: Mark Nicholas at 713-888-4024 or Will Clay at 713-425-1810 or Angela Watford at 713-425-1848

FOR SALE: Tumwater, WA - 12.5 acre IOS

Address: 2840 Black Lake Blvd SW, Tumwater, WA 98512

Features: Cleared, graveled and secured

Close To: Black Lake Blvd, I-5 via Hwy 101,

Buildings: 8,325 SF total structures, with 1) Warehouse 1: 2,100 SF, 18’ clear height, 50’ x 42’ dimensions, 1 loading, oversized grade level door, leased through September 2025; 2) Covered Storage: 2,925 SF, 14’ clear height, 45’ x 65’ dimensions, leased through September 2025; 3) Warehouse 2: 2,100 SF, 18’ clear height, 50’ x 42’ dimensions, 1 loading, oversized grade level door; 4) Office: 1,200 SF, 40’ x 30’ dimensions, weight scale, restrooms, kitchenette

Zoning: Heavy Industrial

Info: LINK

Brokers: Morgan Richey at 425-362-1409 or Thad Mallory at 425-362-1410

FOR SALE: Haltom City, TX - 4.5 acre with 14,000 SF

Address: Eden Drive Portfolio, Haltom City, TX 76117

Features: Fenced lots, value-add opportunity with existing short-term leases

Close To: Hwy 121, I-35, and Loop-820, Downtown Dallas and DFW Airport.

Buildings: 14,500 SF building space containing 2.08 acre building 1, 12,000 SF building 2 and 2,500 SF building 3  

Zoning: M-2 Zoning

Info: LINK

Rental Rate: Building 1: $4,500/mo, Building 2: $5,650/mo, and Building 3: $4,000/mo

Brokers: Sarah LanCarte at 817-409-4040 or Jenny Carlstrom at 817-733-8251

FOR LEASE: Kansas City, MO – 10 acre IOS

Address: 8901 E 22nd Terrace, Kansas City, MO 64126

Features: Graveled, lit, fenced, gated, onsite porta potty, security cameras

Close To: I-435 & I-70

Zoning: Unincorporated

Info: LINK

Rental Rate: $175 /space/month

Broker: Casey Mericle at 417-501-6550

FOR LEASE: Marietta, GA - 17 acre low-coverage industrial

Address: 1000 Loudermilk Drive, Marietta, GA 30060

Features: 5.5 acres of paved outdoor storage with 6” concrete, fully fenced, lit, all utilities on site

Buildings: 80,964 total SF across 4 buildings, 8,607 SF of office, 4 dock-high doors, 14 grade-level doors

Close To: I-75, Hwy 41, I-285

Zoning: Heavy Industrial

Rental Rate: Upon request

Info: LINK

Broker: Jay Padgett at 404-465-9050

FOR LEASE: North Charleston, SC - 5.66 acres IOS

Address: 2003 Cherry Hill Ln, North Charleston, SC 29405

Features: Fully fenced and lit yard

Close To: Charleston International Airport, Hugh Leatherman Port

Buildings: 8,184 SF truck terminal with office, 18‘ eaves, 20‘ center, 20 position terminal, 19 docks and1 drive-in door

Info: LINK

Rental Rate: $9,000 /acre/month

Brokers: Kevin Coats at 843-805-5112 Tyler Smith at 843-805-5118