IOS Daily - July 7 - Cooper Horowitz arranges $150M loan for Triten/TPG Angelo Gordon IOS portfolio

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NEWS ROUNDUP

FINANCING: Cooper Horowitz arranges $150M loan for Triten/TPG Angelo Gordon IOS portfolio. Cooper Horowitz has sourced a $150M financing loan for a stabilized portfolio of 29 IOS properties owned by Triten Real Estate Partners and TPG Angelo Gordon. The portfolio stretches across 6 states and totals 255 acres. The Cooper Horowitz team included Justin Horowitz, Richard Horowitz, Ben Knopf, and Joshua Tropper.

ACQUISITION: BLP buys 3.5 acre IOS in Edison,NJ for $8.5M. Bridge Logistics Properties (BLP) has acquired 1 Nixon Lane in Edison, New Jersey. The property includes a 10,350 SF truck terminal with 30 doors and is located at the intersection of I-95 and I-287. The BLP deal team included Will Gilkeson, Raouf Tawfik, and Chanise Stoute. Jason Barton with Cushman & Wakefield facilitated the transaction.

DISPOSITION: VCR Realty Group sells 8 acre IOS in Atlanta metro area. VCR Realty Group has facilitated the sale of 95 Pine View Drive in Hampton, Georgia. The property is zoned for heavy industrial use. John Cohen and Jake Foss with VCR represented the seller in the transaction.

ACQUISITION: CanTex buys 2.49 acre IOS in Dallas-Fort Worth metro area. CanTex Capital has acquired 6500 Airport Freeway in Haltom City, Texas. The property features 5,250 SF of shop and office space. Andrew Wiesemann and Griffin Pitcher with Matthews Real Estate Investment Services facilitated the off-market transaction. Sam Cheema and Romy Cheema lead the CanTex team.

LEASE SIGNED: IOV leases 2.17 acre IOS in Dallas-Fort Worth metro area. Industrial Outdoor Ventures (IOV) has leased 2130 Hightower Drive in Garland, Texas. The property features 7,368 SF of industrial space. The IOV deal team included Tom Barbera, Nick Firth, Eric Johnson, Anthony DeLaurentis, Benjamin Backer, Mike Rotolo, Raymond Keeler, and Tina Torossian. Caleb McCoy and Paul Davis with JLL represented IOV in the transaction. Adam Jones and James Mantzuranis with Stream Realty Partners represented the tenant.

PEOPLE MOVES: Open Industrial hires new Asset Management Associate. Alex Zane has joined the Open Industrial team as Associate, Asset Management. In his new role, Alex will focus on enhancing Open Industrial’s IOS portfolio performance and executing strategic business plans. His prior experience includes serving as an Asset Analyst for Thomas Safran & Associates.

FROM OUR PARTNERS

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20.19 AC | 13 Structures Totaling 54,583 SF | Paved, Lit, Fenced, and Gated | Utilities on Site | Rail Spur Access | Close to I-215, CA-60, and Ontario Intl. Airport | 100% Leased to 84 Lumber Through 11/2033

1.26 AC | 5,000 SF Office/Warehouse Building | Fully Fenced and Gated | Access Points on the Left and Right Side | Located in Jet Industrial Park Adjacent to Charleston Intl. Airport | Easy Access to I-26

2.72 AC | 3 Buildings Totaling 20,200 SF | Fully Leased to ABC Supply Co. Inc. Through 12/31/2028 | 3% Annual Rent Increases | Minutes from I-55

2-8 AC Available | Flexible Yard Size | 10,500 SF Building with Spec Office, HVAC, and 2-4 Overhead Doors | Highway Visibility | Strong Zoning | Ample Power | IOS Spec Plan Available | Immediate Occupancy Available

4.15 AC | 18,639 SF Building | Fully Fenced and Lit | Close to I-295, Jacksonville Port Authority, Jacksonville Intl. Airport, and Downtown Jacksonville

4 AC | 5,363 SF Office and 5,500 SF Warehouse With Vehicle Maintenance Bay | Fully Improved, Fenced, Gated, and Lit | Utilities Onsite | I-2 Zoning (Heavy Industrial) | Close to I-35, I-10, and San Antonio Intl. Airport