IOS Daily - October 16, 2023 - Dayton Street Partners closes 5-property IOS portfolio

SPACE NEEDS!

Naples, FL - Up to 3 acres needed for construction parking, within 15-30 minutes from Cambier Park. The closer the better. Click here to email properties that fit: SUBMIT for NAPLES.

Pittsburgh / Penn Hills, PA - Two to five acres needed. Repo yard for vehicles, tenant needs gravel or asphalt lot. Click here to email properties that fit: SUBMIT for PITT/PENN.

PUBLICLY TRADED LOGISTICS CO NEED:

Day Cab Requirements (MTM, or up to 12 months) - Sacramento (100 assets) | Cincinnati/North Kentucky (100 assets) | Oakland (25 assets) | Miami (30 assets) | Newark (100 assets). Submit for Day Cab.

Sleeper Cab Requirements (overnight, 5-10 slips per day, variable) - Burlington/Teterboro, NJ | Charlotte, NC | Baltimore, MD | Little Rock, MD | Grand Rapids, MI | Bakersfield, CA | Long Beach, CA | Tucson, AZ | Oxnard, CA | San Diego, CA. Submit for Sleeper Cab.

NEWS ROUNDUP

ACQUISITION: Dayton Street Partners closes 5-property IOS portfolio. Chicago-based DSP purchased the fully-leased portfolio in San Antonio last week. The portfolio includes two truck terminals and three secure outdoor storage yards across 15.8 acres. Graham Stark with Newmark Zimmer and Kyle Kennan with Partners represented DSP, and Willie Kempf and Albert McNeel of Endura Advisory Group repped the seller.

LEASE SIGNED: IOV signs lease with AP Moller-Maersk. Industrial Outdoor Ventures signed a lease with AP-Moller-Maersk, one of the world’s largest container shipping companies. The 1.5-acre site is located at 3501 E Biddle St in Baltimore. McLane Fisher and Oliver Fryer with Cushman repped IOV, and Jeremy Scheck with Colliers repped the tenant. The IOV deal team included Tom Barbera, Nick Firth, Anthony DeLaurentis and Eric Johnson.

PORTS: Pacific dockworkers union files for bankruptcy. The ILWU's Chapter 11 filing stems from lengthy litigation that ended with a $19.1 million judgement. The union will continue to operations, but the filing adds uncertainty to the busiest shipping channel in the country.

TRUCKING BANKRUPTCY 1: Meadow Lark Transport shutters operations. The Montana-based firm had operated for 40 years an had 273 drivers and operated 40 terminals nationwide. Some motor carriers that hauled brokered loads for the company claim they have been fighting for months to get paid.

TRUCKING BANKRUPTCY 2: Sunset Logistics ceases operations. The Gainey-owned trucking company based in Grand Rapids, Michigan abruptly closed its doors last week. About 90 truck drivers and office personnel are owned compensation, and the company is placing blame on its lenders. Many drivers were stranded nationwide without working fuel cards when they heard the news.

FOR SALE: 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: Lithonia, GA – 10 acre IOS

Address: 2700 Turner Hill Rd, Lithonia, GA 30058

Features: Class A facility, 400+ trailer spots, heavy-duty asphalt paving, fencing, 11’x55’ striping, coded access gate, solar-powered LED lighting

Close To: Immediate access to I-20 east of Atlanta, onward to the I-285 loop and ATL airport, I-675, and I-75

Buildings: Shop buildings can be built-to-suit

Info: LINK

Brokers: Stephen Bridges at 404-909-1560 or Matt DiLeo at 404-435-6869

FOR SALE: Evans, CO - 3.92 acre low-coverage industrial

Address: 3901 W Service Road, Evans, CO 80620

Features: Paved parking area, gravel lot, fenced 7 gated, 200A 3P, utilities onsite, and ±235 FT of frontage

Close To: Highway 85, Union Pacific Railroad facility, Greeley-Weld County Airport

Buildings: Building 1: 6,100 SF office space with 8,300 SF warehousing, 8 10' x 12' drive ins, metal construction. Building 2: 7,682 SF, four 9' x14' drive in, metal construction

Zoning: Current zoning is RCR, but it is being changed to C-4 zoning. Outdoor storage is allowed through principle use of the premises under C-4 zoning

Info: LINK

Asking Price: $3,400,000

Brokers: Andrew Wiesemann at 318-267-1074 or Ashton Miller at 214-802-7299

FOR SALE: Lorton, Virginia - 9.38 acre IOS

Address: 7209 Lockport Place, Lorton, Virginia 22079

Features: 3.5 acres graveled outdoor storage lot with below market rate lease, public water and public sewer service available

Close To: I-95, Richmond Highway (US-1), Fairfax County Parkway (VA-286), Ox Road (VA-123), and Telegraph Road (VA-611)

Buildings: 12,861 SF flex office/warehouse (a two-story office space with 10’ ceilings and a warehouse with 24’ height and 8 drive-in bays)

Zoning: I-4 (Medium Intensity Industrial) and R-1

Info: LINK

Asking Price: $8,949,000

Brokers: Mychael Cohn at 301-523-7191 or Aaron Lebovitz at 703-576-7806

FOR LEASE: Houston, Texas – divisible 5- 50 acre heavily stabilized IOS yard

Address: 10626 Sheldon Road Houston, Texas 77044

Features: Well and septic, excellent surface and underground drainage in place, no MUD taxes, 5-50 acres divisible

Buildings: On-site office structure, 20,000 SF warehouse with clear span, truck well, multiple smaller warehouses on-site, three entrances

Info: LINK

Asking Rate: Call for details

Brokers: Thomas Leger at 713-744-7430 or Frank Blackwood at 713-744-7433 

FOR LEASE: Greensboro, NC – 2.5 acre trailer parking

Address: 101 Chimney Rock Rd, Greensboro, NC 27409

Features: To be graveled and fenced, 57+ trailer spaces

Available: January 2024

Close To: I-40/I-73W, Burnt Poplar Road, I-840 Greensboro Loop, Piedmont Triad International Airport

Info: LINK

Broker: Bailey Cooke at 336-358-3222

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