IOSList - September 18, 2023 - National Truck Parking scores tenants
National Truck Parking secures two tenants. Ridgecut Road and Luzern close IOS in New Jersey. Bay Street is renovating a Nashville IOS. UAW strikes! California to ban driverless trucks? Eight new IOS deals.
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National Truck Parking yard in South Dallas
LEASE SIGNED: Timber Hill and Champion Realty Advisors land two tenants. The property is operating under the National Truck Parking brand and signed leases with Mesilla Valley Transportation and Big G Express. The NTP South Dallas yard is one of the largest premium, all concrete yards in the I-45 corridor. Leasing inquiries: Steve Hancock or JD Salazar.
CLOSING: Ridgecut Road and Luzern Associates acquire low-coverage asset in New Jersey. The JV recently closed on 379 County Road in Aberdeen Township. The property includes a 9,000 SF maintenance facility on 3.4 acres, and is well-positioned to capture tenant demand flowing out of Port Newark. Justin Horowitz with Cooper-Horowitz arranged the financing with BEB Capital. Leasing inquiries: Doug Bansbach and Linda Hill with Colliers.
RENOVATION UPDATE: Nashville metro ISF receiving a facelift. Charles Hawkins Co. is renovating 470 Dick Buchanan St in southeast Nashville on behalf of owner Bay Street Capital. The site will be ready for occupancy in Q1 of 2024. Looking good!
How will the UAW strike impact the economy? “Anderson Economic Unit (AEG) estimates that even a 10-day strike against all three companies would result in total wage losses of $859 million, manufacturer losses of $989 million, $3.5 billion in economic cost and $2.1 billion costs to consumers who wouldn’t be able to get necessary repairs and replacement parts, and by dealers and their employees.”
California Senate and Assembly vote to ban heavy-duty driverless trucks. The bill would require trucks over 10,001 pounds to have human safety drivers in the cab. Governor Newsom’s office has been critical of the bill. The former SanFran mayor is a big technology backer but also courts labor unions who are vocal advocates of the legislation.
THE COST OF MONEY
IOS FOR SALE
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
Asking Price: $6,625,720
FOR SALE or LEASE: Milwaukee, WI – 15.38 acre low-coverage industrial at 6.92% cap
Address: 8365 N 76th St Milwaukee, WI 53223
Features: Paved, lit, active rail spur
Close To: I-41, Highway 181, Port Milwaukee, Union Pacific Rail
Buildings: 83,000 SF, 20' clear, 2 dock-high doors, 4 grade-level
Asking Price: $3,395,000
Asking Rate: $20,000/month NNN
FOR SALE: Rialto, CA – 1.74 acre IOS
Address: SWC Date Ave, Rialto, CA 92316
Features: 17,000 SF additional expansion property across the street on 2.28 acres
Close To: 1-10 Freeway, Union Pacific Rail Yard
Zoning: Heavy Industrial
Asking Price: $3,400,000
FOR SALE: Las Vegas, NV – 2.05 acre IOS
Address: 6585 W Gary Ave, Las Vegas, NV 89139
Features: Fenced, graded, has power & private well, currently occupied month-to-month generating $17,000 per month, seller financing available
Close To: McCarran International and Henderson Airport
Asking Price: $3,500,000
Broker: Darby Neagle at 702-914-2101
IOS FOR LEASE
FOR LEASE: Houston, Texas – up to 45 acre IOS
Address: 10626 Sheldon Road Houston, Texas 77044
Features: Well and septic, excellent surface and underground drainage in place, no MUD taxes, 5-45 acres divisible
Buildings: On-site office structure, 20,000 SF warehouse with clear span, truck well, multiple smaller warehouses on-site, three entrances
Asking Rate: $0.50 /SF/month for the buildings and $3,500/acre/month NNN for the lot
FOR LEASE: Sutherlin, OR – 4.22 acre IOS
Address: 0 Deady Crossing Rd, Sutherlin, OR 97479
Close To: I-5 and Old Highway 99
Broker: Jennifer Kramer at 541-580-6767
FOR LEASE: Conley, GA – 11 acre IOS
Address: 1307 Henrico Rd, Conley, GA 30288
Features: Fully fenced, 24/7 access
Close To: Moreland Avenue and I-285, Hartsfield-Jackson Atlanta International Airport
Buildings: 4,000 SF warehouse building, four 20’ high drive-ins
Asking Rate: $110,000/month (NNN)
FOR LEASE: Atlanta, GA – 4.85 acre IOS
Address: 1039 Pluma Dr SE Atlanta, GA 30316
Features: Fully fenced, security system and cameras
Close To: I-285 and Hartsfield-Jackson Airport
Buildings: 10,000 SF building with 4 15x12 drive-in doors
Asking Rate: $31,525/month (NNN)
Broker: Parker Buchanan at 404-372-8701
ONE MORE THING
The interstate system is wild
46,876 miles of road
We can, without much thought or planning, drive just about anywhere in this country
Fuel, food, lodging, repairs, are all along the way
No bandits, threats, etc
I dont think we realize how insane this is
— Reed Loustalot 🚚 (@lostisreed)
Sep 17, 2023
The US interstate system (and railways) are essentially the vascular system of US commerce. Note the mention of “Defense Highways,” an overlooked benefit of a robust interstate highway network.
SECURE THE MUG!
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