IOSList - September 20, 2023 - Will the Fed pause today?

NEWS ROUNDUP

1. THE FED: Your friend and mine, J-Pow, will announce the latest fed move today just as your 1 pm espresso is wearing off. If you believe the bond market, the Fed will NOT hike rates today. The market is pricing odds of a pause at 98%, and the Fed hasn’t said a word to suggest otherwise. Odds of a November hike stand at just 28%.

2. TRUCK PARKING: Rig Hut announces the launch of on-demand truck parking marketplace. The Miami-based firm says the new marketplace and management tool pairs millions of truck drivers with thousands of outdoor storage landlords in real time. Founders Jake Guso and Jose Lorido also secured an investment from CRE veteran Thomas A. Rizk.

3. DISPOSITION: Simi Capital Group sells Nashville IOS. The NYC-based firm sold 1703 Lebanon Pike Circle in Nashville, a 5-acre facility near the Nashville airport. The site offered 101 tractor-trailer spaces which allowed SCG to secure two leases with a regional trucking company and a another Fortune 100 tenant. Contact Andrew Skydell or Jonathan Henry Katz for details about SMG’s investment criteria.

4. Industrial rents plateauing nationwide? “There seems to be a line in the sand. Tenants want to be under the landlord’s asking rents of above $20 per square foot, unless the space is within 15 minutes of the port or has abundant trailer parking. New construction leases…are holding at $18.50 per square foot net, with concessions of up to three months of free net rent. Vacancy rates are creeping up near 4%, and I think owners will be giving more free-month concessions to maintain their rental rates.” -Chris Galiano with NAI Dileo-Bram discussing NJ rents

5. CH Robinson expands Laredo facility in nearshoring strategy. The freight broker and logistics firm just opened a 400,000 SF cross-border facility in Laredo, TX that can handle 350 shipments daily. “Nearshoring is really just starting, because a lot of the factories are still under construction and haven’t even come online yet.” -Mike Burkhart, CH Robinson

THE COST OF MONEY

FOR SALE: Goodyear, AZ – 5.6 acre IOS

Address: SE El Sol & S Bullard Ave, Goodyear, AZ 85338

Features: Green levelled land

Close To: I-10, Hwy 303 and Phoenix Sky Harbor International Airport

Zoning: Industrial Pad

Info: LINK

Asking Price: $3,300,000

Broker: Jazz Deol at 602-600-5585

FOR SALE/LEASE: San Bernardino, CA - 18-35 acre IOS

Address: 1924 Glen Helen Rd, San Bernardino, CA 92407

Features: Lighted, fully secured concrete paved yard with guard shacks, 620 trailer stalls expandable to 1,204 trailer parking stalls

Close To: 15/215 Interchange and Ontario International Airport

Zoning: IC (Industrial Commercial)

Available: Summer of 2024

Info: LINK

Brokers: Dan Foye at 909-912-0009 or Richard C. John at 909-912-0001

FOR SALE/LEASE: Jacksonville, FL – 29.2 acre IOS development site

Address: Alton Box Rd, Jacksonville, FL 32218

Features: 1,370’ frontage, I-95 exposure to 82,500 VPD, minimum divisible lot size of 5 acres

Close To: I-95, I-295 and I-10, Jacksonville International Airport and the JAXPORT terminals

Zoning: Light Industrial

Info: LINK

Asking Price: $7,500,000

Lease Price: $2,500/AC/Month

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

FOR SALE: Los Angeles, CA – 3.63 acre heavy industrial redevelopment

Address: 3033 E Washington Blvd, Los Angeles, CA 90023

Features: Secured, lit, 518' frontage, rail spur access, Opportunity Zone, 20,000 VPD

Close To: Port of Long Beach, Los Angeles International Airport and Long Beach-Daugherty Field Airport

Buildings: 39,285 SF metal building with rail spur

Zoning: M3 (Heavy Industrial Zone, trucking and cold storage allowed by right)

Info: LINK

Asking Price: $28,500,000

Brokers: Rommel Corpus at 213-326-3331 or Jorge Yamzon at 626-786-5869 or Allen Lee at 213-399-8722

FOR LEASE: Lakeland, Florida - 4 acre IOS land

Address: 190 West Bella Vista St, Lakeland, FL 33805

Features: Rocks/graveled, fence, lit and secure, 700 +-W Bella Vista, 400+- N Wabash road frontage, water and sewer nearby

Close To: I-4, US 98, US 92, SR 33, nearby industrial neighbors

Zoning: I-3 Heavy Industrial

Rent: $1.16 SF/yr NNN

Info: LINK

Brokers: David Hungerford at 863-660-3138 or Augie Schmidt at 863-409-2400 or Tyler Davis at 205-441-8538

FOR LEASE: Lima, OH – 4 acre IOS

Address: 1361 E Hanthorn Rd, Lima, OH 45804

Features: Levelled, all-stone lot, fenced, 24/7 gated access

Close To: I-75, Lima industrial parks

Info: LINK

Asking Rate: $2,500 /acre/month

Broker: Jeff Dulmage at 419-302-3940

FOR SALE/LEASE: Denver, CO - 10 acre IOS lot

Address: 6120 Federal Blvd - 2820 West 62nd Ave, Denver, CO 80221

Features: Fenced, gated, and paved, 100 spaces for parking, large infill outside storage site

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

Buildings: 10,290 SF covered lean-to structures (includes 1,900 SF shop) and 2,000 SF office/shop

Zoning: Unincorporated Adams County C-5

Info: LINK

Rent: $5,000/acre/month NNN

Asking Price: Call brokers

Brokers: Jeff Hallberg at 303-725-6019 or Brian Cox at 303-918-6309

FOR LEASE: Savannah, GA - 23,560 SF warehouse + trailer yard

Address: 111 Sparkman DR. Savannah, GA 31408

Features: Fenced, lit, 3 acre sites and 42 trailer spaces equipped with landing pads, 3 phase power

Close To: I-516, I-16, I-95, Garden City Terminal and Savannah-Hilton Head International Airport

Buildings: 23,560 SF building, 1,500 SF office, 2 dock level doors, 14’ clear height and 2 drive in doors

Zoning: Light Industrial

Info: LINK

Broker: Zachary Zakas at 912-417-0009