IOSList - September 5, 2023 - Alterra secures a huge fund commitment
Ohio Police and Fire commits $75 million to Alterra's IOS fund. Lee & Associates signs IOS lease in SC. Transport Properties closes IOS in Columbus, OH. Ten new IOS deals.
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Ohio Police and Fire Pension Fund commits $75m to Alterra’s IOS Fund. “The commitment is the first-ever relationship between Ohio Police & Fire and Alterra Property. The pension fund intends to place between $140m and $215m into non-core real estate, with no allocation made for core real estate.” -IPE Real Assets
LEASE SIGNED: Lee & Associates signs a 6.5 acre IOS lease. The property is located at 1634 Duncan Reidville Road, Duncan, SC 29334. It is fully fenced, with a 40' electric gate, an 8" gravel yard, a concrete entrance, and a modular office. The tenant is STG Logistics, which will use the site for intermodal drayage.
An increase in 10-year treasury chops CRE values. “A predicted rise in the 10-year rate to 4.75% from 2.2% would cause a 150-basis-point increase in the average cap rate. Under this scenario, a prime asset trading at a 4.5% cap rate would now trade at a 6% rate, equivalent to an approximate 25% fall in capital values.” -CBRE
CLOSING: Transport Properties closes IOS in Columbus, OH. Located at 3455 Alum Creek Drive in Columbus, OH, the site has over 35 usable acres ready for immediate occupancy. The site offers parking for 1,300 trailers/containers, multiple truck terminals or repair facilities. Contact Joe Davis, Nick Tomasone, or Josh Weithman of JLL with any leasing inquiries.
Mom and pop trucking operators dominate freight (and IOS use?). Once heavily unionized, trucking saw a decline in union participation after deregulation in the mid-1970s. This shift favored nonunionized trucking companies. Recent events like Yellow Corp's bankruptcy highlight the challenges unionized carriers face.
THE COST OF MONEY
IOS FOR SALE
FOR SALE/LEASE: Fontana, CA – 1.2 acre IOS
Address: 16569 Slover Avenue, Fontana, CA 92337
Features: Fenced and Secured
Close To: CA-10, CA-15, CA-60 freeways
Buildings: 1,855 SF Office
Zoning: M-1 (Verify with City of Fontana)
FOR SALE: Salt Lake City, UT – 17.1 acre IOS development site
Address: 4952 W 150 South, Salt Lake City, UT 84104
Features: All utilities available, potential rail spur
Close To: I-80, Salt Lake City International Airport and Downtown Salt Lake City
Zoning: Light Industrial (M1) and Opportunity Zone
FOR SALE: Thermal, CA – 20 acre IOS development site
Address: S Avenue 54, Thermal, CA 92274
Features: All utilities in street, 12” main water line on Avenue 54 (City of Coachella), 12” main sewer line on Avenue 54 (City of Coachella), water irrigation, new interchange at Airport Blvd and Expressway 86, new overpass at Airport Blvd and Highway 111
Close To: I-10 freeway, Palm Springs International and Jacqueline Cochran Regional Airport
Zoning: M-SC (Manufacturing, Service Commercial, allows for contractor yard), also in an Opportunity Zone
Asking Price: $2,000,000
FOR SALE: Edmond, OK – 7.5 acre industrial development site
Address: 4410 N Boulevard St, Edmond, OK 73025
Features: Leveled, no flood zone, and 1,650’ of frontage on N Boulevard St
Close To: I-35 and Will Rogers World Airport
Zoning: F-1 (Light Industrial)
Asking Price: $1,200,000
FOR SALE: Jurupa Valley, CA – 4.68 acre IOS
Address: 5467 28th Street, Jurupa Valley, CA 92509
Features: Fenced and secure
Close To: CA-91, CA-60, CA-215, freeways
Buildings: 3,700 SF office
Zoning: M-SC (Manufacturing Service Commercial, verify with City of Jurupa Valley)
IOS FOR LEASE
FOR LEASE: Miami, FL - 4.12 acre IOS - available immediately
Address: 400 NW 137th Ave in Miami, FL 33182
Features: Divisible from 1.23 acres to 4.15 acres, signalized corner, 3 points of ingress/egress, fully fenced, lit, partially paved, 283’ direct frontage, 50,000 VPD
Close To: Dolphin Expy/836, US Hwy 41 and Miami International Airport
Buildings: Office trailer, additional build-to-suit options
Zoning: IU-1 (Unincorporated Miami-Dade)
FOR LEASE: Alpharetta, GA – 8.3 acre IOS
Address: 11630 Wills Rd, Alpharetta, GA 30009
Close To: I-400, 1-285, Downtown Atlanta
Buildings: Lot A: 1,000 SF office space and 5,000 SF shop space and 1,000 SF office space
Zoning: LI (City Of Roswell), approved uses: heavy equipment sales/rental, contractor storage, commercial vehicle maintenance/repair, trailer storage
Broker: Mendy Ruder at 404-442-2848
FOR LEASE: Portland, OR – 7 acre IOS
Address: 8524 N Crawford St, Portland, OR 97203
Features: Gravel surface, level, rectangular, outside 100-year flood plain, fully fenced, rail spur, river frontage, divisible with multiple entries
Close To: Rivergate and NW Portland, Portland International Airport
Zoning: EG2 (General Employment), up-zoning opportunity to mixed-use
Rent: $0.12 per foot NNN
FOR LEASE: Cordova, CA – 4.15 acre IOS
Address: Security Park Dr, Rancho Cordova, CA 95742
Features: Fenced, paved, security gate, lights, under construction available in November 2023, divisible
Close To: Sacramento International Airport
Broker: Greg Redman at 916-677-8172
FOR LEASE: Houston, TX – 2 acre IOS
Address: 6522 Cullen Blvd, Houston, TX 77021
Features: Paved, warehouse/shop building
Close To: Cullen Road, William P. Hobby and Ellington Field Airport
Rent: $0.50 per SF NNN
Brokers: Todd Anderson at 832-594-2712
ONE MORE THING
60% of all storage facilities in the United States are mom-and-pop owned.
This is the biggest opportunity in commercial real estate that investors are sleeping on right now.
— AJ Osborne (@AjOsborne1)
Sep 3, 2023
AJ, have a seat and listen to a little story about parking lots.
SECURE THE MUG!
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