IOSList - October 20, 2023 - Ocean West closes 4-property IOS portfolio in Inland Empire

NEWS ROUNDUP

ACQUISITION: Ocean West Capital Partners closes 4-property Inland Empire IOS portfolio. The portfolio contained 3 sites in San Bernardino and 1 site in Fontana, all together totaling 21 acres. The combined portfolio will house 604 trailer stalls and maintenance facilities. Cushman Wakefield brokers Matthew Leupold, Jeff Chiate, Richard Ellison, Mike Adey, and Bradley Brandenburg handled the disposition. Seller was Western Realco.

FUND RAISE: Triten and Angelo Gordon set up $100M facility for IOS acquisitions. Patterson Real Estate Advisory Group advised the pair, and Axos Bank provided the guidance facility. “This facility provides Triten with a huge strategic advantage among competitors as we look to identify value in underperforming IOS deals. With the facility allowing us to execute our business plan before loan covenants kick in, our plan is to use this to acquire non-stabilized deals and deals with below market rent.” -Brent Ozenbaugh, COO of Triten

LEASE SIGNED: Amazon leases trailer parking from DryPort Capital. DryPort Capital operates a chain of truck and trailer parking facilities under the Riggy’s brand. Amazon signed a lease taking 88% of the of the 12.7 acre Riggy’s West 10 location at 30229 US Hwy 90 in northwest in Houston. Judd Harrison and Peter Billipp of KBC Advisors repped Amazon, and Jim Autenreith and Sam Rayburn of Moody Rambin repped DryPort.

YELLOW: Rolling stock auction could impact IOS landscape. Yellow’s rolling stock is set to be liquidated by a group of auction houses including Nation’s Capital, Ritchie Brothers, and Iron Planet. Yellow’s assets include roughly 12,000 tractors and 35,000 trailers, all of which could be moved to new locations for use and storage.

DEVELOPMENT: Zenith delivers and leases IOS in Kansas City. Zenith completed a renovation of 8100 Blue Parkway in Kansas City, and inked leases with ACERTUS and Kelly Pipe Co. Josh Haith sourced the deal and handled leasing for Zenith, and CBRE’s Peter Shikar represented ACERTUS.

FOR LEASE: Kent, WA – 8.6 acre ISF

Address: 24300 Pacific Hwy S, Kent, WA 98026

Features: Fully fenced, lots of power, great location between the ports

Close To: I-5, Pacific Hwy S, Port of Tacoma and Seattle-Tacoma International Airport

Buildings: 3,200 SF service building, 3 oversized bay doors, drive through door, separate 1,040 SF office building

Zoning: GC (General Commercial)

Info: LINK

Availability: January 1, 2024

Brokers: Mark Childs at 503-504-3298 or Bruce Clarkson at 206-399-6218

FOR LEASE: Las Vegas, NV – 6.06 acre IOS

Address: 4710 E. Cartier Ave, Las Vegas, NV 89115

Features: Partially paved, fully sprinkled, septic tank

Close To: I-15, North Las Vegas Airport and McCarran International Airport

Buildings: 9,200 SF building including a 6,050 SF warehouse and 3,150 SF office, five grade-level doors, 22’ clear, 25 standard parking spaces, 400A, 120/240 V, 3% building coverage

Zoning: M-1 Zoning

Info: LINK

Rental Rate: Negotiable

Brokers: Zach McClenahan at 702-580-7055, Leslie Houston at 660-287-2253, Eric Larkin at 702-279-2479, or Michael Kenny at 702-408-0963

FOR LEASE: Phoenix, AZ – 5 acre IOS

Address: 4932 W Pasadena Ave, Phoenix, AZ

Features: Fire sprinklered, BNSF rail capable

Buildings: 51,502 SF industrial building, 11,000 SF office, 7 dock high loading doors and 2 oversized grade level doors

Zoning: M-2 Heavy Industrial

Info: LINK

Availability: December 1, 2023

Brokers: Max Schumacher at 480-214-9403 or Patrick Sheehan at 480-214-9405 or Jack Hansen at 480-214-9421

FOR LEASE: San Diego, CA – 2.35 acre IOS

Address: 9685 Via Excelencia, San Diego, CA 92126

Features: Secured fencing, lighting, site hook-ups for office trailer.

Close To: I-15, San Diego International Airport

Zoning: CO-3-1 City of San Diego, Permitted under the Mira Mesa Community Plan/ SDR 10

Info: LINK

Brokers: Evan McDonald at 858-677-5339 or Tucker Hohenstein at 760-930-7966 or Kurtis Blanchard at 760-670-8367