IOS Daily - March 12 - Zenith IOS closes $120M refinancing for 30 IOS assets

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NEWS ROUNDUP

FINANCING: Zenith IOS closes $120M refinancing for 30 IOS assets. A partnership between Zenith IOS and institutional investors advised by J.P. Morgan Asset Management has closed a $120 million refinance transaction with Washington Capital Management. The refi covers 2 regional portfolios totaling 30 IOS assets across Zenith’s target markets in the Southeastern, Southwestern, and Western US. Justin Horowitz with Cooper Horowitz LLC arranged the financing. The Zenith deal team was led by Vinh Thai, Max Rodenborn, and Peter Cannon.

DISPOSITION: Lober sells 9 acre IOS in Tampa Bay, FL area. Lober Real Estate has facilitated the off-market sale of 1501 Lake Avenue SE in Largo, Florida. The property features 4 industrial buildings totaling 36,000 SF on 9 acres. Devin Beeler and Robbie Lober with Lober Real Estate represented both the buyer and seller in the transaction.

DISPOSITION: Newmark sells 4 acre IOS in Provo, Utah metro area. Newmark has facilitated the sale of 649 Innovation Circle in Payson, Utah. The property features a 24,920 SF industrial building. The Newmark deal team included Ben Richardson and Kolby Long.

UPDATE: In Monday’s edition of IOS List, we covered Catalyst’s acquisition of 6200 Fallard Drive in Upper Marlboro, Maryland, for $1.8M. We now know that Derrick Cohen with Greysteel represented the seller, R&F Trucking, in the sale-leaseback transaction.

LEASE SIGNED: Transport Properties leases 11 acre IOS in Detroit metro area. Transport Properties has facilitated the leasing of 16400 Racho Road in Taylor, Michigan. The property includes 7 paved acres (expandable) and a 5,700 SF dispatch office. The transport deal team was led by Burke Scott.

PEOPLE MOVES: Realterm appoints Head of US Investments. Realterm has announced that Joe Noon has been appointed Senior Vice President, Head of US Investments. Noon will lead the firm’s Investments and Development teams. Joe has worked with Realterm since 2022.

FROM OUR PARTNERS

Click on each photo for more information.

4 AC | 31,970 SF Warehouse with 3,930 SF Office | LED Lighting | Automatic Gates | Masonry/Chainlink Fencing | Within 1,000’ of US-75

1.66 AC | 6.25% Cap Rate | NNN Lease in Place with Annual Rent Increases | Close Proximity to Major Transportation Nodes | Industrial Zoning

For Sale or Lease | 10,000 SF Warehouse | Covered Truck Parking | Fenced and Gated Yard | Close to TSMC Chip Plant and Deer Valley Airport

4-7 AC | 300 Parking Spaces | Industrial Zoning | Located Just 11 Miles from the Port of Savannah | Easy Access to Highway 21 Corridor | Close to I-16 and I-95

3 AC Total | 1 AC Paved | 2 AC Aggregate | 3,000 SF of Buildings with (7) 10’x14’ Drive-in Doors | Fenced and Lit | Close to PA-76, PA-476, and PA-276

6.82 AC | 2 Maintenance Shops Totaling 25,993 SF | Fenced, Graveled, and Lit | Seamless Access to I-35E, TX-114, and I-635 | Light Industrial Zoning