IOSList - October 9, 2023 - TexMex border crossings taking up to 16 hours.

NEWS ROUNDUP

1. MUST READ: Solving the truck parking crisis, and how we got here. Rachel Premack went deep on the US truck parking crisis and reports on some eye-opening stats: truck drivers spend an average of 56 minutes a day looking for parking, there is just one spot for every 11 truck drivers. And solutions are tricky. The industry lives on razor-thin margins, so who will provide safe and widespread parking at a reasonable rate?

2. TRANSPORT: Domestic transport demands continue to move east. “Truckload demand has nearly doubled out of the border town Texas markets of Laredo and McAllen since 2018. Phoenix has experienced a similar developmental boom, becoming a proxy for California’s old warehousing capital in Southern California’s Inland Empire.” -Zach Strickland, FreightWaves Head of Freight Market Intelligence

3. DFW: IOS activity in Dallas-Fort Worth grinds lower. The bid-ask spread and high interest rates are depressing sales volumes, but leasing demand remains strong. David Guinn of Davidson Bogel: “We’re still tracking a lot of people out there looking, there just seems to be four more layers of analysis that goes into signing any lease right now.” There are 25 DFW sites on the market for lease, ranging from 2 to 65 acres. About 18 lease agreements have been completed for sites larger than 3 acres so far this year, with the Metroplex on track to see up to 25 leases finalized by year’s end.

4. YELLOW COUNTDOWN: Mark your calendars for the Yellow auction date. Estes won the stalking horse bid at $1.525B, but they are not guaranteed to win all of Yellow’s 174 terminals. The full auction will occur on November 28 and it will create an instant comp set and price discovery for truck terminals and IOS across the country. Data nerds rejoice. Of course, IOSList will provide a complete breakdown of the action.

5. BORDER DELAYS: Border crossing taking trucks up to 16 hours to cross? “Almost everything on the U.S. side of the border related to Mexico trade depends on Texas. The Texas Trucking Association is sitting there with trucks idling, waiting for their cargo to come across the border and it’s not happening. Distribution centers are waiting on their products, factories in Texas are waiting on their finished goods and components. It’s affecting every sector of the Texas economy.” -Alan Russell, CEO of Tecma Group who owns 8 million sf on both sides of the border.

FOR SALE: Bellflower, CA – 1.07 acre IOS at 5.32% cap

Address: 10027 Artesia Blvd, Bellflower, CA 90706

Features: Paved and fenced, excellent credit tenant leasing newly renovated contractor's yard

Close To: Immediate 91 FWY access

Buildings: Workspace/office area

Zoning: M1 

Info: LINK

Asking Price: $6,625,720

Brokers: Nate Ortega at 562-207-3307 or Steven Keung at 562-207-3313 or Casey Mungo at 562-207-3301

FOR SALE: Mansfield, TX – 3.1 acre IOS

Address: 200 Industrial Blvd, Mansfield, TX 76063

Features: Electricity, city sewer & city water, crushed rock / gravel flex base, security cameras

Close To: Hwy 157, Hwy 287, I-20 and Dallas/Fort Worth International Airport

Buildings: 1,152 SF office building, electric entry and exit gates 12”, 4,900 SF repair shop (permit)

Zoning: Light Industrial (LI)

Info: LINK

Broker: Alex Wilson at 972-934-4063

FOR SALE: Jacksonville, FL – 7.3 acre IOS

Address: 8801 W Beaver St, Jacksonville, FL 32220

Features: Fully fenced and gated, retention pond in place, 200 parking spots, Water (JEA), electric (JEA) and septic utilities available

Close To: I-10, I-295, I-75 and I-95, Jacksonville Port and Jacksonville International Airport

Buildings: 3,000 SF metal building with 2 (14’ x 16’ grade level) doors, 190 SF office with 2 bathrooms and a driver’s lounge/efficiency apartment on the mezzanine level

Zoning: IL

Info: LINK

Asking Price: $3,950,000

Brokers: Eric Bumgarner at 904-861-1152 or Joseph M. Turri at 904-861- 1159 or Michael Cassidy at 904-861-1120

FOR SALE: Pomona, CA – 0.91 acre IOS

Address: 11211-11225 Kadota Ave, Pomona, CA 91766

Features: Flat land, water connection, seller financing up to $1 million

Close To: Freeways 10, 60, 71, and 57, Ontario International Airport

Zoning: Community Industrial (IC) (warehouse, wholesaling and distribution, truck terminal, contractor storage yard, construction and heavy equipment sales and rental, RV sales)

Info: LINK

Broker: Kevin Kan at 213-618-1838

FOR LEASE: Bronx, NY - 105,161 SF IOS

Address: 905 Edgewater Road, Bronx, NY 10474

Features: Newly paved, full perimeter fencing, LED lighting, 600 AMPS for EV charging ability, 4 wide entrances, pavement striping, landscaping, and concrete pads per tenant requirements

Close To: I-95 and I-278, Sheridan Boulevard

Zoning: M1-2 HP

Info: LINK

Possession Date: Q-3 2024

Broker: David Junik at 718-371-6406 or Fredric Stein at 718-371-6409

FOR LEASE: 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

Availability: Currently under construction with Q1 2024 delivery date

Info: LINK

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

FOR LEASE: McDonough, GA – 5.74 acre IOS

Address: 100 Industrial Blvd, McDonough, GA 30253

Features: Six-inch asphalt milling yard base, industrial lighting, fencing, security cameras and electric gate

Close To: One mile off of I-75, 20 miles south of ATL Airport

Buildings: 4,500 SF truck repair shop with 5 bay doors

Info: LINK

Contact: TRUX Parking at 770-366-6989

FOR LEASE: Fontana, CA - 2.27 acre IOV

Address: 15036 Ceres Ave, Fontana, CA 92335

Features: Fully fenced and secured, electric wrought iron gate

Close To: 10 and 15 FWY and Ontario International Airport

Buildings: 3,500 SF warehouse

Zoning: IC (Verify)

Info: LINK

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