IOS Daily - January 31 - BLP buys 7.4 acre IOS in Brooklyn, NY for $105.3M

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NEWS ROUNDUP

ACQUISITION: BLP buys 7.4 acre IOS in Brooklyn, NY for $105.25M. Bridge Logistics Properties (BLP) has acquired 222 Morgan Avenue in the East Williamsburg neighborhood of Brooklyn, New York. The low-coverage property features a 34,000 SF warehouse and is currently 100% leased to Frito-Lay. The BLP deal team was led by Director of Investments Mac Lee.

DISPOSITION: Lincoln sells 4.28 acre IOS in Denver area for $6.5M. Lincoln Property Co. CRE has brokered the sale of 4475 East 74th Avenue in Commerce City, Colorado. The property features a 33,550 SF industrial building. Mark Dwyer and Sam Slaton with Lincoln represented the seller, KYCO Real Estate, in the sale.

ACQUISITION: B&D buys 8.25 acre IOS in Charlottesville, VA for $3.9M. B&D Holdings has acquired 400 Rio Road West in Charlottesville, Virginia. The property features 2 industrial buildings totaling 17,000 SF. The B&D deal team included Martin Segal, Robert Logan, Danny Harrison, Rebecca Weinerman, and Andrew Brunetto. Grant Bates with Newmark represented B&D in the deal. Austin Newman, Carter Wells, and Nathan Shor with S.L. Nusbaum Realty Co. represented the seller.

LEASE SIGNED: Partners leases 47 acre IOS in Houston area. Partners Real Estate has facilitated the leasing of 2828 FM 1405 in Baytown, Texas. The property, which is located in the TGS Cedar Port Industrial Park, features a 164,640 SF truck terminal. Gray Gilbert and Chris Haro with Partners Real Estate represented the landlord, Dayton Street Partners, in the deal. Zane Carman, also of Partners, represented the new tenant, Deugro.

LEASE SIGNED: Apex leases 1.76 acre IOS in Charleston, SC area. The Apex Investment Property Group of Lee & Associates Charleston has facilitated the leasing of 1000 Trident Street in Hanahan, South Carolina. The property features a 6,000 SF warehouse. Jon-Michael Brock and Alex Whittemore with Apex represented the landlord in the transaction.

READ: A great article about CRE Debt & Equity Advisor Justin Horowitz. Our friend Justin Horowitz discusses all things IOS, including how he first learned about the asset class, top deals, and the state of the market.

FROM OUR PARTNERS

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14.5 AC | For Sale and Lease | Divisions Available | 3,500 SF Fleet Repair Facility | Freestanding 1,500 SF Office Building | Fully Paved | Secured and Fenced Lot | Site Lighting | Paved | Drainage | Security Cameras | Built in 2019 | Near Hauppauge Industrial Park and Long Island Expressway

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

1.9 AC | 3,634 SF | 3 Repair Bays with 4 Drive-in Doors | 18’-22’ Clear Heights | Large Fully-Paved Lot | Concrete Dolly Pads | Fenced and Secured

1 AC | Graveled, Lit, and Fenced | New 25’ Manual Gates | Close to I-25

1.96 AC | 105+ Trailer Parking Spaces | Fenced and Secured | Container Stacking Allowed | Close to I-405, I-710, and SR-91

2.1 AC | Covered Shed | Power Hookups for Modular Trailer on Site | Less Than 1 Mile from I-26 | Zoned Industrial, Charleston County