IOS Daily - October 30 - Transport leases to EquipmentShare. Apricus buys 4th IOS.
Transport Properties buys Kansas IOS, leases to EquipmentShare. Apricus buys 4th IOS in TX. Biynah grabs 3 truck terminals. Fed makes it rain $61B for highways. Eight new IOS deals.
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ACQ-LEASE: Transport Properties buys Kansas IOS and inks lease with EquipmentShare. Transport Properties closed on 9600 Dice Lane in Lenexa, Kansas, a 16,144 SF industrial building on 3.08 acres of industrial outdoor storage. Scott Bluhm and Seamus McLaughlin with Newmark Zimmer represented the buyer and seller, and secured a long-term lease with EquipmentShare prior to closing.
ACQUISITION: Apricus closes its fourth IOS in Houston. Dallas-based Apricus Realty Capital and ABR Capital Partners acquired 12400 and 12402 Taylor Road in Houston last week. The two properties combine for 31,750 SF on five acres of parking. The Apricus deal team included Matt Haley, Garrett Marler, and Cort Martin, who must be fired up after closing on a Dallas IOS deal last week.
TERMINALS: Recent Biynah acquisitions highlight feverish truck terminal demand. Biynah Industrial Partners paid around $28.7 million in just the past couple of months to buy three truck terminals as it looks to grow its portfolio of the in-demand buildings. Biynah spent $8.1 million for an Atlanta terminal, $9.7 million for a Miami property and $11 million for a Dallas terminal.
TRUCKING: Shippers not satisfied with their carriers after Yellow reshuffle. Three hundred shippers and 3PLs were surveyed, all former Yellow customers who switched carriers. The findings? Roughly 35% are not satisfied with their first choice after Yellow and are in the market for another LTL carrier. Yellow historically held a roughly 9% share of the LTL market but that number likely dwindled a couple of hundred basis points ahead of its shutdown.
FEDERAL FUNDING: Fed Highway Administration makes it rain $61B. The FHWA is passing out $61 billion to states for highway improvements. Heavy population centers of Texas, California, Florida, and New York are receiving a combined $15.3 billion. Within the overall budget, the funds earmarked for EV infrastructure increased from $615M to $885M year-over-year.
TENANT SPACE NEED
Pittsburgh / Penn Hills, PA - Two to five acres needed. Repo yard for vehicles, tenant needs gravel or asphalt lot: SUBMIT for PITT/PENN.
IOS FOR SALE
FOR SALE: Glendale, Arizona – 4.9 acre IOS
Address: 6424-6430 W Orangewood Ave, Glendale, Arizona 85301
Features: Fully fenced and secured site, crushed asphalt/ABC throughout yard, located in Opportunity Zone
Buildings: 2 office buildings, storage building, and 9,000 SF, partially enclosed shop
Zoning: M-1 (Light Industrial), City of Glendale
Asking Price: $4,500,000
FOR SALE - CALL FOR OFFERS TODAY! Lakeland, FL – 6.44 acre IOS with development upside
Address: 2372 Old Combee Rd, Lakeland, FL 33805
Features: Fully leased month-to-month at $3,640 per month, water and sewer available
Close To: Industrial node with Walmart logistics, Amazon fulfillment, Saddle Creek logistics, SR 33, SR 659, and I-4
Zoning: I-2 (City of Lakeland)
Asking Price: $1,600,000
Broker: David Hungerford at 863-660-3138
FOR LEASE or SALE: Dalton, GA – 3.94 acre IOS
Address: 3355 Blake Dr, Dalton, GA 30720
Features: Paved, new fencing and security, 100 truck parks
Close To: Chattanooga Metropolitan Airport, Atlanta metro area
Broker: Rachel Condon at 404-275-5794
FOR SALE/LEASE: Poway, CA – 2.79 acre warehouse + IOS
Address: 12690 Danielson Ct, Poway, CA 92064
Features: Single tenant site, warehouse, office and outdoor storage/parking, paved, lit, fenced, gated, secured, 1,200 amps of power
Close To: Close to I-15 and centrally located to service San Diego down to the border of Mexico and north to the Inland Empire
Buildings: 9,050 SF industrial building with 25% office, 4 grade and 1 dock door
Zoning: LI (Light Industrial, outdoor storage permitted)
Asking Price: $11,000,000
Rental Rate: $60,000/month NNN
Broker: Blake Rodgers at 858-410-1192
IOS FOR LEASE
FOR LEASE: East St. Louis, IL – 19 acre ISF
Address: 895 Madison Rd., East St. Louis, IL 62201
Features: Compact gravel/asphalt millings, fully fenced, lit, utilities onsite, highway visibility, floor drains LED lighting, air-line and oil drops, concrete apron, heavy power
Close To: I-55, Gateway Speedway
Buildings: 1) 10,127 SF with six (6) 16′ x 14′ drive-in doors and two (2) 14′ x 14′ drive-in doors; 2) 1,848 SF with three (3) 12′ x 14′ drive-in doors; 3) 192 SF office trailer
Zoning: M2 (Heavy Industrial)
Rental Rate: $4,000/acre per month NNN with $250/acre per month NNN expenses
FOR LEASE: Pendergrass, GA – 12 acre IOS
Address: 138 N Holland Dr, Pendergrass, GA 30567
Features: Newly developed, secured, heavy-duty asphalt, LED lighting, 24/7 surveillance
Close To: I-85, Hwy 129, I-985, Gainesville Inland Port (Norfolk Southern)
Buildings: Build-to-Suit available (no existing structures)
Zoning: LI (Light Industrial, outdoor storage permitted by right)
Rental Rate: $5,500/acre/month NNN
Broker: Joey Galanti at 404-542-6368
FOR LEASE: Glendale, AZ – 5 acre IOS
Address: 12417 W Glendale Ave, Glendale, AZ 85307
Features: Asphalt, gated, fenced, well lit, power and water access, security lighting and cameras
Close To: Two miles from Luke Air Force Base, between 303 and 101, one mile south of Northern Pkwy
Zoning: I-1 (Maricopa County Island)
Rental Rate: $7,000/acre/month NNN
FOR LEASE: Jurupa Valley, CA – 6.88 acre IOS
Address: Riverside Drive, Jurupa Valley, CA 91752
Close To: 15 and 60 FWY and Ontario International Airport
Buildings: 30,000 SF shop, three (10’x35’) ground level doors
Zoning: Industrial Park I-P (Verify)
ONE MORE THING
IRR 290 bps below annual cash on cash? Gotta just be making these numbers up on the fly.
— Adam Deermount (@ADeermount)
Oct 26, 2023
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