IOSList - September 18, 2023 - National Truck Parking scores tenants

NEWS ROUNDUP

1. 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.

2. 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.

3. 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!

4. 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.”

5. 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

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 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

Zoning: LI

Info: LINK

Asking Price: $3,395,000

Asking Rate: $20,000/month NNN

Brokers: Mark Williams at 407-406-3187 or Scott Reid at 949-942-6585

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

Info: LINK

Asking Price: $3,400,000

Brokers: Juan Covarrubias at 909-652-9055 or Gus Andros at 949-533-3829

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

Zoning: M-1

Info: LINK

Asking Price: $3,500,000

Broker: Darby Neagle at 702-914-2101

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

Info: LINK

Asking Rate: $0.50 /SF/month for the buildings and $3,500/acre/month NNN for the lot

Brokers: Thomas Leger at 713-744-7430 or Frank Blackwood at 713-744-7433

FOR LEASE: Sutherlin, OR – 4.22 acre IOS

Address: 0 Deady Crossing Rd, Sutherlin, OR 97479

Close To: I-5 and Old Highway 99

Zoning: C-3

Info: LINK

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

Info: LINK

Asking Rate: $110,000/month (NNN)

Brokers: Max Norton at 407-493-8482 or Parker Buchanan at 404-372-8701

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

Zoning: C-2

Info: LINK

Asking Rate: $31,525/month (NNN)

Broker: Parker Buchanan at 404-372-8701