IOS Daily - July 25 - Alterra buys 12-property Class A IOS portfolio for $67M

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NEWS ROUNDUP

ACQUISITION: Alterra buys 12-property Class A IOS portfolio for $67M. Alterra IOS has acquired a portfolio of 12 Class A IOS properties located in key markets in the South, Southwest, and West Coast. The properties total 43.3 usable acres with more than 165,000 SF of warehouse space and are currently leased to Herc Rentals. Mark Gannon led the Alterra deal team. Rory Shelby and Scott Gould with Marcus & Millichap facilitated the all-cash transaction. The properties in the portfolio are:

• Kings Mountain, NC (Charlotte MSA): 20,950 SF on 7 usable AC

• Port Allen, LA (Baton Rouge MSA): 23,060 SF on 5.8 usable AC

• Malabar, FL (Palm Bay MSA): 19,700 SF on 4.9 usable AC

• Apache Junction, AZ (Phoenix MSA): 10,850 SF on 4.2 usable AC

• Conway, SC (Myrtle Beach MSA): 10,850 SF on 3.6 usable AC

• Wilmington, NC: 14,400 SF on 3 usable AC

• Sacramento, CA: 9,440 SF on 3 usable AC

• Monroe, LA: 15,250 SF on 2.7 usable AC

• Austin, TX: 9,600 SF on 2.5 usable AC

• Ocala, FL: 15,110 SF on 2.4 usable AC

• Tampa, FL: 9,440 SF on 2.4 usable AC

• Wake Forest, NC (Raleigh-Durham MSA): 10,800 SF on 1.6 usable AC

ACQUISITION: Turnbridge Equities buys 2.4 acre IOS in Queens, NY. Turnbridge Equities has acquired 20-25 130th Street in College Point, Queens, New York. The acquisition was made through a bankruptcy sale from Zano Industries. Ryan Nelson led the Turnbridge deal team. Mathew Diana with DY Realty represented Zano and the bankruptcy court in the transaction.

ACQUISITION: Miramar Capital Advisors buys 4.5 acre IOS in Phoenix, AZ. Miramar Capital Advisors has acquired 2651 51st Avenue in Phoenix, Arizona. The property includes a 3,000 SF office building and is located near the junction of Loop 202 and I-10. Kyle McGinley, Payton Kruidenier, and Clark Stokes with Ross Brown Partners Inc. facilitated the transaction.

UPDATE: In our July 21 issue, we mentioned the sale of 8235 State Road 33 North in Lakeland, Florida. The 1.5 acre IOS property sold for $1.7M, and Zach Cichocki with NAI Realvest represented the seller. We now know that Robbie Lober with Lober Real Estate represented the buyer. Robbie, Devin Beeler, and Alec Seow (also with Lober Real Estate) are currently marketing the property for lease.

LEASE SIGNED: Dayton Street Partners leases 5.4 acre IOS in Milwaukee area. Dayton Street Partners (DSP) has executed a lease with EquipmentShare for N59 W13449 Manhardt Drive in Menomonee Falls, Wisconsin. The property features a 13,455 SF industrial service facility. Ryan Ferris with Colliers represented EquipmentShare in the transaction. Roger Seigal with Dickman Real Estate represented DSP.

FINANCING: Aline Capital closes $1M loan for 2.23 acre IOS in Piedmont, SC. Aline Capital has closed a 5-year $1M acquisition loan for 1400 Piedmont Highway in Piedmont, South Carolina. The property features a 10,400 SF warehouse. The Aline deal team included JD Lehman, Andrew Carter, and Scott Williams.

DON’T FORGET TO REGISTER!

Click on each photo for more information.

For Sale and Lease | 3.72 AC (2.5 AC Fully Paved) | 50,000 SF Building with 22’ Clear Height, (5) 14’x20’ Drive-in Doors, and Heavy Floor Load Capacity | 0.5 AC of Covered Storage | Immediate Access to Port Liberty Bayonne Container Terminal

13.8 AC | Ideal for Trailer Parking or Outside Storage | Rail Potential | ±400’ of River Frontage with Sea Wall | Visibility from I-90

10 Properties Totaling 33.88 AC and 273,427 SF | Markets: Dallas-Fort Worth, San Antonio, and Oklahoma City | Click Image Above to Sign NDA and View Full OM

2.5-9.6 AC Available | 2,400 SF Office with Bathroom | Fully Stabilized with Concrete Landing Pads | Fenced with Manual Gate | Heavy Industrial Zoning | Container Stacking with City Approval | ±3.4 Miles to Garden City Terminal and ±2.2 Miles to Ocean Terminal

24.56 AC | Fully Improved with New Gravel/Rock Surface | 3 Buildings Totaling 20,700 SF: 3,200 SF Office, 4,000 SF Warehouse, and 13,500 SF Warehouse | Grade- and Dock-Level Loading | Close to FM 372, I-35, and a Growing Corridor of Major Retailers and Redevelopment

2-18 AC | Container Stacking Approved up to 6 High | M-2 Heavy Industrial Zoning | Site Will Be Delivered Cleared, Graded, Graveled, Fenced, and Lit