IOS Daily - July 11 - Steel Peak sells 2.5 acre IOS in San Diego metro area for $9.5M

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NEWS ROUNDUP

DISPOSITION: Steel Peak sells 2.5 acre IOS in San Diego metro area for $9.5M. Steel Peak has sold 1324-1336 Magnolia Avenue in El Cajon, California, to C&M Manufacturing Inc. The property features 12,000 SF of warehouse and office space and was acquired by Steel Peak in February 2024 for $6.3M. Cameron Czubernat and Kerry Schimpf with Commercial Property Group represented Steel Peak in the transaction. Aidan James with Inland Pacific represented the seller. Blake Rodgers and Pasha Johnson led the Steel Peak deal team.

ACQUISITION: Realterm buys 8.1 acre IOS in Central PA. Realterm has acquired 6330 Basehore Road in Mechanicsburg, Pennsylvania. The property features a 6,960 SF maintenance shop and is currently leased to Ryder Truck Rental. The Realterm deal team included Stephen Panos, Richard Seybolt, Christina Chan, Stephen Lanza, Joe Noon, Arnie Capute, and Colin O’Brien. Jennifer Stein with JDS Real Estate Services was referred by Roberto Susi and Jose Sasson with Axiom Capital Advisors and facilitated the transaction.

ACQUISITION: Jadian buys 3.5 acre industrial service facility in Raleigh, NC. Jadian IOS has acquired 3224-3312 Northside Drive in Raleigh, North Carolina. The low-coverage property features 13,657 SF of industrial space. The Jadian IOS deal team included Mason Baldwin, Matt Perlmutter, Alex Stahl, and Daniel Schuchinsky.

ACQUISITION: Alterra IOS buys 6.14 acre IOS in Phoenix, AZ. Alterra IOS has acquired 2625 South 12th Place in Phoenix, Arizona. The property features a 15,000 SF warehouse. Matt McNutt led the Alterra deal team. Andrew McCurdy with CBRE assisted with the transaction and is currently marketing the property for lease.

FINANCING: Cooper Horowitz arranges $1.7M loan for 2.5 acre GA IOS. Cooper Horowitz has sourced a $1.7M permanent financing loan for 163 Pine Barren Road in Pooler, Georgia. The property features a 16,375 SF industrial building and is owned by a joint venture between K2 Real Estate Capital and Bear Development. The Cooper Horowitz team included Justin Horowitz, Richard Horowitz, Ben Knopf, and Joshua Tropper. Mitchell Kaplain and Robert Kaplain led the K2 deal team.

LEASE SIGNED: Cushman & Wakefield leases 2 acre IOS in Brooklyn, NY. Cushman & Wakefield has facilitated the leasing of 83,000 SF of IOS space at 2637 Stillwell Avenue in Brooklyn, New York. The landlord is Turnbridge Equities, and Beacon Mobility is the tenant. Helen Paul, Gus Weaver, and Rico Murtha led the Cushman & Wakefield deal team.

FROM OUR PARTNERS

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For Sale and Lease | 20 AC | Fully Graded | Fully Fenced | Graveled | Close to I-435, I-635, I-70 and I-35

10.93 AC | Paved, Fenced, and Gated Yard | 100% Leased to US LBM | Active Rail Spur | Storage Sheds | 45,012 SF Warehouse with 6 Grade-Level Doors, Dock-High Loading, and a Ramp to Yard for Forklift Access | Close to I-10, Tucson Intl. Airport, and Union Pacific Railroad Terminal

For Sale or Lease | 12.98 AC | 11,500 SF RBA | Close to US-92, Polk Parkway, CSX Rail Lines, and Winter Haven Regional Airport | Can Be Subdivided

10 AC | Partially Paved with Reinforced Concrete | Partially Graveled | Fenced, Lit, and Gated | 3-Phase Power | 2 Buildings Totaling 36,275 SF | 3,500 SF of Mezzanine Office Space | 2 Grade-Level Doors with Exterior Dock Loading Platform | Close to Norfolk Southern Intermodal, I-20, and I-285

2.29 AC | +1 AC Paved Yard | Fenced | 20,550 SF Building with 2,500 SF Office Space, Fresh Paint, Carpet, Warehouse LED Lighting, and ± 20’ Eave Height | Natural Gas | Highway 225 Frontage | 5 Electric Grade-Level Doors

4 AC | Paved, Fenced, and Lit | 35,803 SF Warehouse with 1,219 SF Office | 3,000 Amps, 277/480v, 3-Phase Power | Natural Gas | Sprinklers | 6 Grade-Level Doors | 22’-30’ Clear Heights | Close to Loop 202, I-10, and I-17