IOS Daily - July 30 - Pinnacle sells 5 acre property with IOS in Denver area for $11.4M

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NEWS ROUNDUP

DISPOSITION: Pinnacle sells 5 acre IOS property in Denver area for $11.4M. Pinnacle Real Estate Advisors has facilitated the sale of 4160 Busch Place in Frederick, Colorado, for $11,425,000. The low-coverage property features a 30,080 SF building plus 2.82 acres of dedicated IOS space. Peter Sengelmann and Paul Schneider with Pinnacle represented the seller, Bear Peak Development, in the transaction.

DISPOSITION: 3.62 acre IOS in Chicagoland sold for $5.5M. Alessandra Bianchi has facilitated the sale of 216 West Diversey Avenue in Elmhurst, Illinois. The property features a 35,264 SF industrial building and is currently leased to JX Truck Center.

ACQUISITION: Zenith buys 3 acre low-coverage property in Orlando, FL. Zenith IOS has acquired 1150 Jetport Drive in Orlando, Florida. The property features a 22,000 SF warehouse. Anton Pick and Alex Guider led the Zenith deal team. Bruce Schoenbrun with Brightstone Realty Partners sourced the opportunity for Zenith. Ryan Griffith and CJ Griffith with Lee & Associates Central Florida represented Zenith in pre-leasing the building, while Dan Ringel with Cushman & Wakefield represented the tenant, a national trucking company.

LEASE SIGNED: Colliers leases 3.6 acres of IOS in the Bay Area. Colliers has facilitated the leasing of 3.6 acres of IOS space at 16520 Worthley Drive in San Lorenzo, California. The property includes a 10,608 SF industrial building. An additional 2.7 acres remain available at the site for lease. Greig Lagomarsino, Nick Ousman, and Chris Stauber with Colliers represented the landlord in the transaction. Karl Hansen and Brooks Baker with CBRE represented the tenant.

LEASE SIGNED: Paramount Properties leases 4.09 acre IOS on Long Island, NY. Paramount Properties Group has facilitated the leasing of 80 Sherwood Avenue in Farmingdale, New York, to Herc Rentals. The property features a 15,210 SF industrial building and is owned by an affiliate of JPD United. Gary Chimeri and Mike Berndt with Paramount Properties Group represented both the tenant and the landlord in the transaction.

FINANCING: Ridgecut Road recaps 2 IOS properties in NJ’s I-287 corridor. Ridgecut Road has recapitalized 2 Class A IOS assets in Middlesex County, New Jersey. The properties include an 11,500 SF industrial service facility on 3.9 acres and a 3.6 acre property with 2 drive-in maintenance buildings totaling 13,500 SF. Scott Shalek and Eric Shalek led the Ridgecut Road deal team. Jason Lundy with JLL arranged the off-market transaction.

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20.31 AC Total: 7 AC of Paved Concrete and 13 AC of Semi-Stabilized Crushed Concrete | Entire Property Is Fenced, Gated, and Secured | 164,959 SF Total: 23,000 SF Show Room, 39,900 SF 4-Story Concrete Building, and 102,047 SF Industrial Metal Buildings | Easy Access to I-610, I-10, US-90, and US-59/I-69 | Close to Houston Ship Channel

2.11 AC | Paved, Fenced, and Lit Lot with Covered Parking | 5,500 SF Office | 1,800 SF Garage/Storage | 4 Drive-in Doors | Minutes from I-240, Memphis Intl. Airport, FedEx World Hub, Norfolk Southern Intermodal Yard, and BNSF Intermodal Yard

3.84 AC | Fully Cleared, Gated, and Fenced | Heavy Industrial Zoning | Located Just 3.6 Miles from I-20

2.32 AC | 14,434 SF Service Building with 5 Drive-in Doors and 14’ Clear Height | Fenced and Gated | 3-Phase 400 AMP Power | Close to I-75, I-4, US-92, and FL-582 | Zoned M (Industrial)

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

5.2 AC | 3.4 AC of Fenced Yard Space | 26,200 SF Building | 3-Phase Power | Multiple Land and Building Demisable Options Available