IOSList - September 15, 2023 - Estes raises bid to $1.525B on Yellow truck terminals

NEWS ROUNDUP

1. CLOSING: Clear Height and Harbert JV acquires 8-acre low-coverage site. "This acquisition is perfectly aligned with our investment strategy. We target distribution, manufacturing, flex and industrial service facilities. These assets are unique with parking and generous outdoor storage." -Rick Nevarez, Clear Height Properties

2. CLOSING: Dalfen Industrial pays $1.1M per acre for New Jersey IOS. The site is located at 299-369 Old Water Works Road in Old Bridge, NJ. The brokerage team was Shaya Nisnevitz and Bunny Escava of Kassin Sabbagh Realty.

3. Estes sets new floor bid of $1.525B for Yellow truck terminals. “The deal also allows the sites to be sold together or separately and provides 30 days of rent-free equipment storage, which is valued at more than $10 million. If the latest offer stands, Estes could still be outbid on some or all of the properties. An auction date of Nov. 27 has been set if needed.”

4. Nearshoring is in full swing in Texas. In a recent panel discussion, experts from US and Mexico were vocal about a booming cross-border trade. “Trade in total goods between Texas and Mexico reached $285.6 billion in 2022, a 24% year over year rise compared to trade between California and Mexico of $91.3 billion in 2022.

5. London-based NW1 plans a $1.6B IOS portfolio. The firm is targeting the US and UK markets for expansion. It has already bought $250M of assets in the U.S. over the past 18 months. The bulk of the funds will be allocated to the US, with smaller allocations in the UK and Netherlands.

THE COST OF MONEY

FOR SALE: Ellenwood, GA – 5.5 acre IOS

Address: 2733 Forest Parkway, Ellenwood, GA 30294

Features: Class A facility, 200+ trailer spots, heavy-duty asphalt paving, fenced perimeter, guard shack, 11’×55’ striping, solar-powered LED lighting

Close To: I-675 and Moreland Ave, with easy accessibility to I-75, I-285, and Hartsfield-Jackson Atlanta International Airport

Buildings: Shop and other buildings can be built-to-suit

Info: LINK

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

FOR SALE/LEASE: Braidwood, IL – 39.7 acre IOS development site

Address: 1725 S Will Rd, Braidwood, IL 60408

Close To: Reed Road and I-55

BTS Options: Warehouse 1: 26,820 SF with 2,400 SF office, 62 car parking, 241 trailer parking, 4 (16’x16’) drive thru bays and 1 exterior dock

Warehouse 2: 11,610 SF with 2,400 SF office, 41 car parking, 124 trailer parking, 3 (16’x16’) drive thru bays and 1 exterior dock

Warehouse 3: 26,820 SF with 2,400 SF office 62 car parking, 241 trailer parking, 4 (16’x16’) drive thru bays and 1 exterior dock

Zoning: I-1 (Zoned for Industrial Use)

Info: LINK

Broker: Adam Stokes at 847-698-7401

FOR SALE: Ventura, CA – 2.91 acre IOS development site

Address: 4573 N Ventura Ave, Ventura, CA 93001

Close To: Hwy 33 and Ventura Ave, Oxnard Airport and The Port of Hueneme

Buildings: Entitlements in process for a 100 space RV parking facility with a 1,500 SF office and managers apartment

Zoning: M-2 (Limited Industrial)

Info: LINK

Asking Price: $4,000,000

Broker: Pete Baldwin at 480-326-6521

 FOR SALE/LEASE: Murrieta, CA – 2.98 acre IOS

Address: 41300-41350 Larchmont Ln, Murrieta, CA 92562

Features: Water, gas and electricity available

Close To: I-15, Jefferson Avenue and Elm Street, Port of San Diego and McClellan-Palomar Airport

Zoning: Business Park, outdoor storage allowed with CUP

Info: LINK

Asking Price: $2,000,000

Brokers: Michael Strode at 951-445-4508 or Connor Strode at 951-445-4529 or Matt Weaver at 760-448-2458

FOR LEASE: Jacksonville, Florida - 7.7 acre IOS

Address: 9850 New Berlin Road Jacksonville, Florida 32226

Features: Adjacent to Jaxport Dames Point Terminal, fully fenced, lighted, and secured, utilities to support modular trailer, up to 178 total trailer spaces

Close To: Jaxport, I-295 and I-95

Zoning: Industrial (Waterfront)

Info: LINK 

Brokers: Ben Stewart at 904-630-6343 or Kyle Fisher at 904-630-6354

FOR LEASE: Greensboro, NC – 3.6 acre IOS

Address: 2420 Fairview St, Greensboro, NC 27405

Features: Paved, fenced and light with electric access gate

Close To: US Highway 29 and I-840, Piedmont Triad International Airport

Lease Rate: $15,000/month

Info: LINK

Brokers: Chris Lowe at 336-358-3235 or Ben Sturgill at 336-848-3046

FOR LEASE: Commerce City, CO – 1.45 acre IOS

Address: 5016 E 77th Ave, Commerce City, CO 80022

Features: Fenced outside storage

Close To: I-76 and I-25, Denver International Airport

Zoning: 1-2

Info: LINK

Lease Rate: $5,000/month

Broker: Tim Shay at 303-283-4594

FOR LEASE: Sun Valley, CA – 6.28 acre IOS

Address: 9361 Glenoaks Blvd, Sun Valley, CA 91352

Close To: I-5, Hwy-170 and I-210, Hollywood Burbank Airport, downtown LA, LAX

Buildings: Storage buildings throughout the property

Zoning: M2/M3

Info: LINK

Asking Rate: $0.55 NNN per SF/month

Brokers: John DeGrinis at 818-921-8529, Jeff Abraham at 818-921-8528, Javier Galvan at 818-921-8532, Patrick Barnes at 213-618-3826, Paul Clark at 213-618-3827