IOS Daily - October 27 - Ridgecut Road and Marcus Partners sign EquipmentShare in NJ

NEWS ROUNDUP

LEASE SIGNED: Ridgecut Road and Marcus Partners ink IOS lease in New Jersey. A JV between Ridgecut Road and Marcus Partners landed a lease with EquipmentShare at 456 Hollywood Ave in South Plainfield, NJ. The property includes an 11,500 SF industrial building on 4 acres of industrial outdoor storage. Bussel Realty Corp brokers Jordan Metz and Ben Abbate represented EquipmentShare. Cushman & Wakefield broker Jason Barton represented the ownership team of Scott Shalek and Eric Shalek with Ridgecut Road and Todd Minerley of Marcus Partners.

DEVELOPMENT: Zenith to develop new IOS in Tampa Bay. Zenith Industrial Outdoor Storage is set to develop an industrial outdoor storage property in Clearwater, FL. The 20-acre project is part of Sunshine Industrial Park, an 83-acre property that Zenith IOS acquired in September of last year for $27.5 million. The property will deliver in Q1 of 2024, and Brad Hutton with Franklin Street is handling leasing.

DEVELOPMENT: DryPort breaks ground on Riggy’s Wintergreen. DryPort Capital broke ground on a 20-acre truck parking and IOS site at 1301 and 1351 West Wintergreen Road in Hutchins. The facility will be called Riggy’s Wintergreen and will be managed by DryPort’s operating company, Riggy. The company expects to complete construction in the second quarter of next year. Wilson Brown and Trapper Graff with CBRE Dallas will handle leasing.

EARNINGS: Old Dominion retains revenue bump from Yellow shutdown. Old Dominion Freight Line handled nearly 2,600 more shipments each day in the third quarter than it did in the first six months of the year. The lift in volumes was tied to Yellow’s exit as broader trends “reflect continued softness in the domestic economy.”

FUNDING: Freight marketplace Transfix lands $40M venture round. Venture funds New Enterprise Associates, G Squared, and Canvas invested $40M to help Transfix reach profitability. The firm was considering a public offering prior to softening interest from tech investors and a freight slowdown. Transfix has raised a total of $124.6M.

FOR SALE: Rialto, CA – 0.65 acre IOS

Address: 2879 S Willow Ave, Rialto, CA 92316

Features: Smaller outside storage possible, block wall around the property, 25 parking spaces

Close To: 10 freeway, Ontario International Airport

Buildings: 1,484 SF of Office Space (Fits 4 - 12 People), converted SFR to office.

Zoning: Heavy Industrial (M-2 - SFR conversion)

Info: LINK

Broker: Juan Covarrubias at 951-816-1465

FOR SALE: El Centro, CA – 9.5 acre ISF

Address: 1963 Old Highway 111, El Centro, CA 92243

Features: Eastern portion is paved, water onsite treatment is required, electricity is believed to be available, improvements are in disrepair

Close To: HWY-111, E Evan Hewes HWY, Two Ports of Entry Border Crossing

Zoning: M-1-U Light Industrial, Urban Overlay. Light Industrial zoning allows for a variety of uses, including wholesale commercial, storage, trucking, and other light industrial uses.

Info: LINK

Asking Price: $1,600,000

Brokers: Regan Tully at 619-661-0656, Morrow Botros at 760-208-8679, Matt Davis at 858-334-4026, and Melanie Haynes at 760-431-3848

FOR SALE: Rochester, Washington - 6.5 acre IOS

Address: 10332 School Land Rd SW, Rochester, Washington 98579

Features: Black slatted fence, barbed wire, rail access

Close To: Interstate-5

Buildings: 16,000 SF industrial space throughout 4 buildings. Building 1 - 7,050 SF, 3 grade level doors. Building 2 - 5,680 SF, 2 grade level doors and dock ramp. Building 3 - 2,400 SF, 3 grade level doors. Building 4 - 840 SF office with kitchenette and restroom.

Zoning: RRI (Rural Resource Industrial)

Info: LINK

Asking Price: $1,750,000 ($110/SF)

Broker: Garett Hall at 360-259-8790 

FOR LEASE: La Vergne, Tennessee - 8 acre IOS

Address: 470 Dick Buchanan Street, La Vergne, Tennessee 37086

Features: Perimeter fencing, crush and run pavement, divisible to 7 and 8 Acres

Close To: Nashville International Airport

Buildings: 12,000 SF maintenance facility with 6 drive thru bays, 2,000 SF office, 14' x 16' drive-in doors

Zoning: I - zoned

Info: LINK

Availability: Under Construction completing in March 2024

Rental Rate: $50,000 per month NNN

Brokers: Kevin Irwin at 407-408-5676 or Robert Stout at 615-345-7210

FOR LEASE: Allentown, PA – 10.82 acre IOS

Address: 1384 S 5th Street, Allentown, PA 18103

Features: 4 acres immediately available, 165 trailer parking spaces (conceptual)

Close To: I-476, I-78, US 22, PA-309, drive to Philadelphia, Wilmington, New York, and related airports/ports in under 2 hours

Zoning: I-2 (outdoor storage, industrial equipment rental/sales, and truck terminals permitted by-right)

Info: LINK

Brokers: Lee Fittipaldi at 2153756115 or Kim Jacobsen at 610-400-0501 or Selwyn Simpson at 610-947-1952

FOR SALE/LEASE: Milwaukee, Wisconsin – 3.39 acre low coverage industrial with IOS

Address: 5840 N 60th St. Milwaukee, Wisconsin 53218

Features: 7.217 acre fenced-in lot, 3.39 acres wooded and partially paved, 90 parking spaces, power supply available

Buildings: 45,818 SF property with 24,000 SF of high-bay warehouse, one (1) shared dock and two (2) designated docks with levelers

Zoning: IL1

Info: LINK

Rental Rate: $4.25/SF Modified Gross

Brokers: Brian Flood at 414-530-5302 or Brett Deter at 414-249-2321