IOS Daily - October 6, 2023 - Layline acquires second IOS for $20M

NEWS ROUNDUP

1. ACQUISITION: Layline buys SanFran IOS for $3M per acre. Oakland-based Layline purchased 2348 Industrial Parkway West in Hayward, CA, a 22,700 SF industrial building on 6.7 acres. Lee & Associates broker Craig Hagglund repped the seller, UPS. Drew Hess and Mark English are the principals of Layline, and this is their second acquisition under the Layline venture.

2. ACQUISITION: Realterm expands its European logistics portfolio. Like the European Ryder Cup team, Realterm is dominating the global IOS landscape. The latest acquisition is 10 Dodwells Road in Hinckley, UK. The site is a 27,620 square meter, low-coverage, IOS/cross-dock fully leased to Tesco, the UK’s biggest supermarket chain. “Despite challenging capital market conditions, occupier demand remains robust in the market.” -Jon Chalkley, Realterm

3. INLAND EMPIRE: Trammel Crow principal with a status check on IE. Leasing activity has been slow in Q2, the first quarter of negative net absorption in more than 13 years. “As a result, we’ve started to see rents decline off their recent peaks, especially for smaller buildings, which are in greater supply.” -Jared Riemer, Trammel Crow

4. PROPTECH: Prologis investing in two AI startups for site selection and logistics ops. Prologis has been piloting TestFit software to compile information on the design and evaluation of construction, as well as forecasting costs for new logistics sites. Prologis also led a $10M Series A round in Chicago-based Site Technologies, an asset management and property data analytics company employing AI.

5. LISTEN: Let’s Talk Supply Chain podcast with guest Bobby Strenk. Bobby Strenk is Senior Director of Wisetech Global’s SecurSpace. In this interview with host Sarah Barnes-Humphrey, Bobby offers a great overview of the IOS space and the desperate need for more IOS options around logistics hubs and arteries. Pass it along to family members for a lively discussion about logistics during Thanksgiving dinner.

FOR SALE or LEASE: Whitestone, NY – 4.6 acre IOS (multiple plots)

Address: 151-11 6th Road, Whitestone, NY 11357

Features: Waterfront, 79,000 SF of riparian water rights, numerous divisions and BTS configurations

Close To: Interstates 287, 295, 678, and 495, LaGuardia and JFK Airports, Port of New York and New Jersey

Zoning: M1-1

Info: LINK

Asking Price: $21,350,000 ($175 PSF)

Rental Rate: $19 psf NNN

Brokers: David Junik at 718-371-6406 or Decio Baio at 718-784-8436

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: San Bernardino, CA – 0.75 acre IOS

Address: 723 S Valley View Ave, San Bernardino, CA 92408

Features: Flat topography, fenced vacant land, paved road, utilities in the street

Close To: San Bernardino and Ontario International Airport

Zoning: Industrial

Info: LINK

Asking Price: $1,785,000

Broker: Don Archer at 951-346-0807

FOR SALE: Dallas, TX – 2.9 acre IOS

Address: 4019 Joseph Hardin Dr, Dallas, TX 75236

Features: Frontage on three sides, totaling 1,000 SF, clear land

Close To: Intersection of Loop 12 and Ledbetter, Dallas Love Field and Dallas/Fort Worth International Airport

Zoning: Z116

Info: LINK

Asking Price: $599,999

Brokers: Andrew Garrett at 972-921-1594 or JL Smith at 214-949-9876

FOR LEASE: Greenville, SC – 3 acre IOS

Address: 21 Burty Rd, Greenville, SC 29605

Features: Fenced, gated, secured, screened and gravel drop yard

Close To: I-85 and I-185, Greenville-Spartanburg International Airport

Buildings: 10,208 SF warehouse/shop, 8 shop bays (60’ bay depth), oversized drive-in doors

Info: LINK

Broker: Rob Williams at 864-593-0928

FOR LEASE: Montclair, CA – 5.02 acre IOS

Address: 5551 State Street, Montclair, CA 91763

Features: Fully fenced, secured, on-site fueling station

Close To: 60, 71, and 10 FWY, Ontario International Airport (ONT)

Buildings: 7,500 SF warehouse, 2,500 SF office, 2 dock high positions and on-site fueling station, ten (12’x14’) ground level doors with drive-thru capability

Zoning: M-2

Info: LINK

Brokers: Mat Skogebo at 951-276-3646 or Ryan Turnquist at 951-276-3680 or Sarah Mudge at 951-276-3676

FOR LEASE: Conyers, GA – 3 acre IOS

Address: 2570 Flat Shoals Rd SE, Conyers, GA 30013

Features: Fully fenced and graveled, I-20 frontage with billboard, lighting optional

Close To: I-20 and 285 perimeter loop

Zoning: M-1 Light Industrial

Info: LINK

Broker: Daniel Murphy at 770-648-4368