IOS Daily - January 20 - United Rentals to acquire H&E Rentals for $4.8B

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NEWS ROUNDUP

ACQUISITION: United Rentals to acquire H&E Rentals for $4.8B. United will acquire H&E for $92 per share in cash, or approximately $4.8 billion, including roughly $1.4 billion of net debt. Thanks to the deal, United expects to realize approximately $130 million in annual cost savings. United is led by Matt Flannery, while Brad Barber and John Engquist have helmed H&E. We can’t help but wonder what effects the joining of these 2 titans will have on the IOS market. Will locations be closed and sold off to streamline costs?

DISPOSITION: Colliers sells 6.09 acre IOS in Los Angeles for $35M. Colliers has brokered the sale of 15914 South Avalon Boulevard in Compton, California. The property features a 75,431 SF warehouse. The buyer was Access Services. The Colliers deal team included Kenny Patricia, Michael Kendall, Gian Bruno, Kylie Jones, Jeff Smart, and Elizabeth Capati.

ACQUISITION: Centurion buys 5.36 acre IOS in Jacksonville, FL for $2.4M. Centurion Realty has acquired 104 Ellis Road North in Jacksonville, Florida. The property is 100% leased. The sale was facilitated by Jamie Fisher and Gabriel Fisher with Matysek Investment Group. The Centurion deal team was led by Saul Tawil and Nate Palmer.

ACQUISITION: Open Industrial buys 2.2 acre IOS in Charlotte, NC. Open Industrial has acquired 3331 Jason Avenue in Charlotte, North Carolina. The property features 7,500 SF of office space and covered storage and is currently fully leased to Bland Landscaping Co. The Open Industrial deal team was led by Rob Foa. Scott Hensley and Lester Osborn with Piedmont Properties represented the seller in the transaction.

LEASE SIGNED: First Houston leases 4 acre IOS in Laredo, Texas. First Houston Properties has leased 146 Blue Ridge Parkway in Laredo, Texas. The property features a brand-new 5,625 SF truck terminal. The First Houston deal team included Juan Fraga, Patrick McKiernan, and James Mashni.

FINANCING: Estreich secures $3.1M for 7 acre IOS in Philadelphia, PA. Estreich & Co. has arranged acquisition financing for 2703 Black Lake Place in Philadelphia, Pennsylvania. The property is currently leased to Amazon. The Estreich deal team included Aram Pehlivanian, Oleg Feldsher, and Andrew Flaum.

Click on each photo for more information.

For Sale and Lease | 2.4 AC | Fully Stabilized, Lit, and Fenced with Mechanical Gate Access | 57 Trailer Spaces | 2 Mobile Offices (Totaling 898 SF) | 3 Docks with 1 Ramp (Totaling 1,801 SF) | Prime Location Near World Trade Bridge and I-35

For Sale and Lease | ±34 AC (Divisible to ±14 or ±20 AC) | Site Dimensions: 1,262’x1,216’ | POD Zoning with Requirements Complying with the IND-2 IUPD Development Standards | 1.4 Miles from Loop 303 and 0.5 Miles from Northern Parkway

2.68 AC | 4,631 SF Office and Warehouse Facility | NNN Lease with Keurig Dr. Pepper | Fully Fenced and Gated with Perimeter Security Lighting

30 AC | 1,000 Semi-Truck Parking Spaces | Asphalt Surface | Dolly Pads | Demarcated Spaces | Cement Perimeter Wall | Automated Gates | Onsite Staff | Remote Monitoring

Truck Parking | 7.69 AC Site with Zoning Approvals | 3,000 SF Office with Commercial Bathrooms | Close to NJ Turnpike; I-295; Routes 40, 48, 130, and 322; Delaware Memorial Bridge; and Port of Wilmington, DE

1.21 AC | Less Than 1 Mile from I-291 | Recently Refurbished Yard Surface and Fencing | Onsite Office Building Available for Additional $1,500/Month