IOS Daily - October 13, 2023 - Triten acquires South Bay IOS

NEWS ROUNDUP

ACQUISITION: Triten acquires South Bay IOS. Triten acquired a 4.7 acre IOS property in Gardena, CA with proximity to the Ports of Los Angeles and Long Beach, and the 110 and 405 freeways. Rob Flores with CBRE assisted in the transaction.

DISPOSITION: Stockbridge sells BlueLinx Atlanta IOS for $40 million. The property is a 64.7-acre, low-coverage/IOS distribution facility totaling 585,637 sf in Lawrenceville, Georgia. BlueLinx Atlanta IOS has proximity to the Gwinnett County Airport (LZU), GA-316 & U.S. 29 interchange, and I-85, I-20 and I-285. JLL brokers Dennis Mitchell, Matt Wirth, Britton Burdette, Mitchell Townsend, and Jim Freeman repped Stockbridge.

PORTS: Port of LA director explains “China + one” strategy. “…that's a China plus one strategy, trying to see where you can source, where you can get manufacturing capacity, and how those routes need to take place. And that's investment in Vietnam, Indonesia, Malaysia, Thailand, just to name a few, where you're starting to see growth unlike what we had witnessed before.” - Gene Seroka, Port of LA

FREIGHT-TECH: AIFleet closes a $14 million venture funding round. AIFleet’s operational platform optimizes for truck routes and greatly reduces dead-heads. The round was led by Ibex Investors, along with Obvious Ventures, Gerdau Next, Compound, Tom Williams, and Cooley.

LISTEN: Sean Dalfen interviewed by Chris Powers on The Fort Podcast. Sean is the President and CIO of Dalfen Industrial, a firm with a focus on last-mile assets and an early investor in IOS. He offers some excellent insights on the overall industrial market. Check out minute 49:30 for his segment on IOS. Also, for throwback listen on IOS with tons of amazing nuggets, Alex Olshansky with Zenith was interviewed by Chris back in January: LISTEN

CALL FOR OFFERS TODAY: Riverside, CA – 2.8 acre IOS

Address: 1492 Palmyrita Ave, Riverside, CA 92507

Features: Half asphalt / half gravel, new 6’ tall perimeter block wall fence

Tenant: 100% leased to Vroom Logistics (NASDAQ: VRM), with 4.5 years remaining at 17% below-market rent with one 3-year renewal option at FMR

Close To: Highway 215, I-10, I-5, and I-15

Buildings: 11,760 SF building, 18’ clear height with 1 dock-high doors

Zoning: General Industrial (I), permitted by right: truck terminal, outdoor storage yard, equipment sales and rental, lumber and building materials yard

Info: LINK

Brokers: Chase Macleod at 949-783-7707 or Jean Carlo Castillo at 949-413-9396, Ethan Flor at 424-235-9211

FOR SALE: Fort Myers, FL – 8.34 acres of heavy industrial land

Address: 3960 Canal St, Fort Myers, FL 33916

Close To: I-75 and MLK exit, Southwest Florida International Airport

Zoning: Heavy Industrial, industrial outdoor storage permitted

Info: LINK

Asking Price: $2,995,000

Brokers: Justin Ankney at 239-933-5594 or Chase Mayhugh at 239-278-4945

FOR SALE: Elk Grove, CA – 19.25 acre potential IOS dev site

Address: 9351 Mosher, Elk Grove, CA 95624

Close To: Highways 50, 99 and I-5

Zoning: MP (Industrial Park) - allows for vehicle storage, building materials stores and yards, equipment sales and rental, freight yard/truck terminal

Info: LINK

Asking Price: $3,000,000

Broker: Doug Bayless at 916-641-0300

FOR SALE: Conley, GA – 1.92 acre IOS

Address: 3414 Moreland Ave, Conley, GA 30288

Features: Fully fenced and lit

Close To: I-285 and I-675, ATL International Airport

Zoning: C-1 / Light Industrial

Info: LINK

Brokers: Nick Peacher at 404-962-8650 or Andrew Ashmore at 404-962-8627

FOR LEASE: Calhoun, GA - 25,000 SF Truck Terminal and Trailer Parking

Address: 212 Robinson Road, Calhoun, GA 30701

Features: Truck terminal on 4.78 acres and additional 3.09 acre trailer parking with 70 spaces

Close To: Immediate access to I-75, US-41

Buildings: 25,000 SF truck terminal, 1,500 SF office, 43 docks, and 1 drive-in door

Available: February 2024

Zoning: I-1

Info: LINK

Broker: Calvin O’Keeffe at 404-281-6404

FOR LEASE: Raleigh metro, NC – 2 acre IOS

Address: 1734 Five Points Ln, Fuquay-Varina, NC 27526

Features: To be fenced and graveled, 27,000 VPD

Close To: Future I-540 interchange at Hwy 401

Zoning: H1

Info: LINK

Brokers: Kyle Gross at 919-710-6400, Ryan Lawler at 949-291-3896, or Will Judy at 919-606-1956

FOR LEASE: Dr. Zion, IL – 9 acre IOS yard

Address: 700 Trumpet Park Dr. Zion, IL 60099

Features: Fenced and secured storage yard, lit security lighting, 180 trailer parking spaces

Close To: I-94

Zoning: Heavy Industrial

Info: LINK

Broker: Christopher Volkert at 847-698-8237, Ned Frank at 847-698-8261, or Pat Hake at 847-698-8525

FOR LEASE: Grand Terrace, CA - 2.16 to 6.23 acres ISF

Address: 21516 & 21506 Main St, Grand Terrace, CA 92313

Features: Fenced and secured graveled yard

Close To: Freeways 215/91/60 and on-ramp to Freeway 215, Ontario International Airport

Yard 1: 2.16 acres with a 21,210 SF canopy and 1,000 SF office asking $0.36/SF/Mo NNN ($33,872)

Yard 2: 4.07 acres with a 5,717 SF warehouse and a 4,580 warehouse asking $0.34/SF/Mo NNN ($60,278)

Combined: Asking $0.32/SF/Mo NNN ($86,841)

Zoning: M2 - Industrial

Info: LINK

Brokers: Craig Yocum at 951-276-3625, Trent Kimsey at 951-276-3649, or Alexey Zabolotskikh at 951-276-3606