IOS Daily - September 22, 2023 - Big trades from Stos Partners and Albany Road REP

NEWS ROUNDUP

1. DISPOSITION: Stos Partners sells industrial + IOS combo in San Marcos for $12.5 million. Stos Partners originally acquired the asset in 2021 for $8.8 million, then upgraded the property with a new roof, parking lot, paint, landscaping and signage. The seller’s deal team included Matt Pourcho, Anthony Delorenzo and Matt Harris of CBRE, along with Chris Roth, Rusty Williams and Jake Rubendall of Lee & Associates. Brant Aberg and Bryce Aberg of Cushman & Wakefield represented an undisclosed buyer.

2. SALE/LEASEBACK: 30-acre Tampa IOS sells for $21 million. Gaston Trees Debris Recycling sold 3565 126th Ave in Pinellas Park to Albany Road Real Estate Partners. The seller leased back 10 acres, and Jingoli Power leased 12 acres. The remaining 7.5 acres is available. The seller’s brokerage team included Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, John Jackson, JT Faircloth, and Casey Perry.

3. PORT VOLUMES: Port of LA volumes up for the first time in 13 months. “August was a very solid month with increases both on the import and export sides of our business. Overall, global trade has eased this year and we expect that trend to continue in the coming months.” -Gene Seroka, Port of LA Executive Director. Year to date volumes for 2023 are off 21% compared to 2022.

4. MOVER/SHAKER: Clear Height Advisors highlighted in New York Real Estate Journal. Nice piece on Guy Hananya and Clear Height. They specialize in sourcing acquisitions, with a track record of over $300 million in transactions completed.

5. LISTEN: Industrial investors are searching for yield in secondary markets. This is a great podcast episode from Chris Galiano with NAI DeLeo-Bram. The main focus is on industrial markets surrounding NYC, but the same trend is playing out nationwide.

THE COST OF MONEY

FOR SALE: Jacksonville, FL – 0.89 acre IOS

Address: 4040 Abston Dr, Jacksonville, FL 32226

Close To: I-295, Hecksher Dr, Blount Island, Jacksonville Port and Jacksonville International Airport

Buildings: 1,000/SF office and 725/SF garage

Zoning: Heavy Industrial

Info: LINK

Asking Price: $575,000

Brokers: Eric Bumgarner at 904-252-1249 or Joseph Turri at 917-721-5322 or Michael Cassidy at  904-598-4984

FOR SALE: Congers, NY – 8.98 acre industrial development site

Address: 40 Hemlock Dr, Congers, NY 10920

Features: Water, sewer and gas facilities

Close To: I-87, I-287, Route 303 and Westchester County Airport

Zoning: CO (Commercial Office)

Info: LINK

Broker: James B. Tully at 201-712-5804  

FOR SALE: Cameron Park, CA - 1.35 acre lot

Address: 4286 & 4296 Business Dr, Cameron Park, CA 95682

Close To: Close to freeway, shopping and restaurants

Zoning: IL (Light Industrial)

Info: LINK

Asking Price: $450,000

Broker: Tom Conwell at 916-569-2380 or 916-628-6500

FOR LEASE: Baytown, TX – 47.4 acre IOS

Address: 2828 FM 1405, Baytown, TX 77523

Features: State of the art truck terminal, fully fenced and lit, ESFR sprinkler system, 214 dock doors (9’x10’), 935 trailer parks, 251 car parks, Chambers County tax incentives available, guard shack potential  

Close To: 99/Grand Parkway, I-10 and Port of Houston

Buildings: 214-door truck terminal; 164,640 SF building with with 24’ clear height, 6,000 SF to-suit office, 10,000 SF truck maintenance facility

Zoning: Industrial

Info: LINK

Brokers: Gray Gilbert at 713-301-7252 or Chris Haro at 713-275-9620

FOR LEASE:  Fort Worth, TX - 3.5 - 43 acres IOS

Address: Victory Circle, Justin (Fort Worth), TX

Features: Mix of paved/graveled/cleared, lit, and fenced

Close To: BNSF Intermodal and Alliance Airport

Info: LINK

Rental Rate: Upon Request

Broker: Blake Rogers at 817-395-2848

FOR LEASE: Bloomington, CA – 0.65 acre IOS

Address: 2879 S Willow Ave, Rialto, CA 92316

Features: Block wall fencing, 25 parking spaces

Close To: 10 freeway and Ontario International Airport

Buildings: 1,484 SF of office space

Zoning: Heavy Industrial (M-2)

Info: LINK

Rent: Upon request

Broker: Juan Covarrubias at 951-816-1465