IOS Daily - January 10 - Realterm buys IOS portfolio for $277M

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NEWS ROUNDUP

ACQUISITION: Realterm buys 13 property IOS portfolio for $277M. Realterm has acquired a portfolio of 13 IOS properties from Brookfield Asset Management. The portfolio comprises 131 usable acres and 631,604 SF and is currently 97% leased to 10 tenants. The properties are located in markets that include the Bay Area, Chicago, DFW, Inland Empire, Northern NJ, Orlando, and Seattle. Brian Budnick and Nick Murphy with Eastdil Secured facilitated the sale and represented Brookfield in the deal. The Brookfield deal team included Devin Barnwell. The Realterm deal team included Stephen Panos and Ben Andreycak.

FINANCING: Lantern closes $70.8M loan for Outpost IOS portfolio. Lantern Real Estate’s Capital Markets Team has closed a $70.8M loan to finance an IOS portfolio with 8 assets in Arizona, Colorado, Georgia, Michigan, and Texas. The sponsor was GreenPoint Partners on behalf of its portfolio company Outpost. The Lantern deal team included Tal Bar-or, David Strongwater, Harris Brown, and Jolie Horowitz.

ACQUISITION: OSC/Bain buy 8.84 acre IOS in South Plainfield, NJ for $33.25M. Oliver Street Capital (OSC) and Bain Capital Real Estate have acquired 115 St. Nicholas Avenue and 115 Skyline Drive in South Plainfield, New Jersey. The property features industrial buildings totaling 32,000 SF. The seller was Trans American Trucking Services. The OSC deal team included Jon Hyde, Jon O’Donnell, and Mitch Arthur. Scott Perkins, Christopher Todd, and William Ericksen with NAI James E. Hanson represented both sides of the transaction.

ACQUISITION: Rockbrook Equity buys 7.52 acre IOS in Dallas, TX area. Rockbrook Equity has acquired 324 North Nursery Road in Irving, Texas. The infill IOS property features a 28,000 SF building. The Rockbrook deal team included Cole Horowitz and Jon Birnbrey. Chase Miller with NAI Robert Lynn facilitated the sale and will be handling the leasing of the property with Chris Wong of Bradford Cos.

DISPOSITION: Avison Young sells 3.58 acre IOS in Tampa, FL. Avison Young Commercial Real Estate has brokered the sale of 7750 Professional Place in Tampa, Florida. The property features a 19,646 SF warehouse. The Avison Young deal team of Michael Coppola, Greg Morrison, and Jason Steele represented the seller in the transaction. Robbie Lober and Devin Beeler with Lober Real Estate represented the buyer. (If you want to read more about small bay industrial deals, check out our sister publication Small Bay List.)

LEASE SIGNED: Klabin leases 0.87 acre IOS in Los Angeles, CA. The Klabin Co. has facilitated the leasing of 336 East D Street in Wilmington, California. The property includes 2 buildings totaling 6,692 SF. The Klabin deal team of Tyler Rollema and Matt Stringfellow represented both the landlord and the tenant in the 39-month lease.

FROM OUR PARTNERS

Click on each photo for more information.

9.75 AC | 5 AC of Leased Yard | 4.75 AC of RV Storage | Small Residence and Shop Building

1.81 SF | 6,113 SF | 100% Leased through September 2028 | Current Rents Are Substantially Below Market

45 AC | Easement Access to All 6 Parcels | Water, Electricity, and Sewer Already in Place | 0.5 Miles to I-5 Ramp

6.5 AC | 205 Semi-Truck Parking Spaces | Electric Fencing | Automated Gates | Gravel Surface | LED Lighting | Onsite Staff | Remote Monitoring

5.4 Usable AC | 6,664 SF Total Building | Fenced, Lit, and Gated | 8 Grade-Level Doors | 18’ Clear Height

4 AC | 6,000 SF Warehouse and 1,000 SF Office | Fenced | Utilities Onsite | Close to I-35 | 3% Annual Bumps | 5-Year Term