IOS Daily - July 29 - Redpoint Industrial Group buys 20 AC IOS in Houston

NEWS ROUNDUP

ACQUISITION: Redpoint Industrial Group buys 20 AC IOS in Houston. Redpoint Industrial Group (RIG), a principal investment subsidiary of Alpine Partners, has acquired 9611 Telge Road in Houston, Texas. The low-coverage property features a 144,000 SF warehouse equipped with 100 tons of crane capacity and 4,000 amps of power on a 20 AC fully stabilized concrete-paved yard. The acquisition marks RIG’s 9th industrial investment in the last 12 months. Derick Perkins, Brad Smith, Kyle Fischer, and Jonas Fertitta led the RIG deal team in the off-market transaction.

ACQUISITION: Crosswest Capital buys 6.8 AC IOS in Chicago. Crosswest Capital, in partnership with Copper Beech Real Estate Capital, has acquired 4400 South Kolmar Avenue in Chicago, Illinois. The acquisition marks the 1st investment in CBC Partners Fund II, which targets IOS assets across the US. The low-coverage property includes a 90,166 SF warehouse. Derek Fish and Ben Andreycak led the Crosswest Capital deal team. Joe Horrigan with CBRE facilitated the transaction.

ACQUISITION: Ridgecut Road buys 5 AC IOS in Northern NJ. Ridgecut Road has acquired 1200 Springfield Road in Union, New Jersey. The low-coverage property includes an 18,500 SF maintenance facility. Scott Shalek and Eric Shalek led the Ridgecut Road deal team. Jordan Metz with Metz Industrial Group facilitated the off-market transaction and is currently marketing the property for lease, along with Benito Abbate and James Friel. Acquisition financing was arranged by Michael Klein, Max Custer, Nazario Paragano, and Kevin Badger with JLL Capital Markets.

DISPOSITION: Marcus & Millichap sells 5.9 AC IOS in West Chicago for $7M. Marcus & Millichap has facilitated the sale of 1401 Harvester Road in West Chicago, Illinois. The property includes a 23,000 SF truck terminal and maintenance facility and is currently leased to TKO Logistics. Kellan Gilmartin led the Marcus & Millichap deal team.

ACQUISITION: Matthews brokers sale of 4.5 AC for IOS site in Birmingham metro. Matthews has facilitated the sale of 4.5 usable AC located at the corner of Interstate Commerce Drive and Interstate Commerce Court in Alabaster, Alabama. The buyer, Perry Hill Ventures, plans to develop a fully improved build-to-suit IOS facility for Empower Rental Group at the site. When completed, the project will feature an 8,000 SF service facility. Andrew Wiesemann led the Matthews deal team.

LEASE SIGNED: Panther Capital Group leases 3.5 AC IOS in Tampa. Panther Capital Group has facilitated the leasing of 3.5 AC at 5960 Jensen Road in Tampa, Florida. The property includes a 2,400 SF warehouse and a 2,140 SF office building. Guillermo de Nicolas with Panther represented the landlord in the transaction.

IOS DEVELOPMENT FOR LEASE

7.55 AC | Fully Paved Class A Facility | Breaking Ground Soon | Potential for Additional Building | Immediately Adjacent to Highway 99

5.86 AC | Improved with Pavement and Crushed Millings | Fenced | Automated Entry/Exit | 2 Buildings Totaling 61,495 SF: 54,598 SF Truck Terminal with 36 Dock Doors; 6,897 SF Maintenance Facility with 3 Grade-Level Doors | Close to I-65 and I-70 | Asking Price: $5,100,000

4.02 AC | Graveled | Fully Fenced, Secured, and Lighted | 57 Designated Truck Parking Spaces | 10,766 SF of Warehouse Improvements | 100% Occupied with Staggered Terms and Stable Tenants | Less Than 2 Miles from I-486

3 AC | Large Paved Lot That Can Be Fenced | 36,550 Industrial Building | 3-Phase Power Located Just off I-83 with Easy Access to I-76/PA Turnpike, I-81, and I-78

20 AC | Graveled, Fenced, and Lit Yard | Video Surveillance | 120,000 SF Warehouse with Restroom, Separate Office Space, and 1 Dock/Ramp | Situated Conveniently Between CA-99 and I-5, Providing Fast, Direct Freight Access North to Sacramento/Northern CA and South to Southern CA | Asking Rent: $0.45/SF

4.45 AC | Fenced and Graveled Yard | 3-Phase Power | 15,449 SF Building with 2,420 SF of Warehouse and 13,029 SF of Office | 30 Minutes West of Fort Worth

3.47-7 AC Available (Total: 23.67 AC) | An Additional ±14 AC to the East Adjoins the Site and Offers Opportunities for Future Development | Paved, Graveled, Fenced, and Gated | Utilities Onsite | Multiple Driveways/Access Points | Direct Access to US-19 | Rental Rate: $5,500/AC/Mo. (NNN)