IOS Daily - March 28 - NAI Hiffman sells 7 acre Chicago area IOS for $4.625M

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NEWS ROUNDUP

DISPOSITION: NAI Hiffman sells 7 acre IOS in Chicago metro area for $4.625M. NAI Hiffman has facilitated the sale of 18424 Northwest Frontage Road in Joliet, Illinois. The property features an 11,000 SF truck repair facility. Both the seller and the buyer are trucking companies. Kelly Disser, Mike Freitag, Bill Byrne, and TJ Feeney with NAI Hiffman represented the seller in the transaction.

ACQUISITION: Triten acquires 4.5 acre IOS in San Antonio, TX metro area. Triten Real Estate Partners has acquired 16915 Alamo Parkway in Selma, Texas. The low-coverage property features a 6,556 SF warehouse/office building. David Shipman led the Triten deal team.

DISPOSITION: CPG sells 0.55 acre IOS in Washington, DC metro area. Cohn Property Group (CPG) has facilitated the sale of 5100 Sycamore Road in Beltsville, Maryland. The property features a 3,540 SF warehouse plus 24,010 SF of IOS yard space. The new owner is a 1031 exchange investor. The CPG deal team included Mychael Cohn, Andrew Brown, and Sam Gordon.

LEASE SIGNED: Matthews leases 9.3 acre build-to-suit IOS in Memphis, TN. Matthews Real Estate Investment Services has facilitated the leasing of 5025 Outland Center Drive in Memphis, Tennessee. As part of the agreement, landlord Perry-Hill Ventures will develop a 9,120 SF facility on the site. The property will be leased to Empower Rental Group under a 10-year NNN lease, with development scheduled for completion in Q3 of 2025. The Perry-Hill deal team included Joel Mackintosh and Mike O’Malley. The Matthews deal team included Andrew Wiesemann and Scottie Culpepper.

LEASE SIGNED: JLL facilitates lease of 4.16 acre IOS owned by Alterra. JLL has facilitated the leasing of 6113 Causeway Boulevard in Tampa, Florida. The property features a 12,659 SF industrial building. The JLL deal team of Olivia Brock, Peter Cecora, John Dunphy, and Harrison Pithers represented the landlord, Alterra Property Group. Chris White led the Alterra deal team. Matt Connors with Cameron Property Co. represented the tenant, STAline Waterworks.

PEOPLE MOVES: IOV promotes Mike Rotolo to Associate Acquisitions Officer. Industrial Outdoor Ventures (IOV) has made Mike Rotolo its newest Associate Acquisitions Officer. Mike joined the IOV team in May 2023 as an Acquisition Analyst. His experience includes previous positions at EY and Lee & Associates.

Click on each photo for more information.

0.87 AC | 6,000 SF Warehouse | Fully Fenced IOS Area | 3-Phase Power | Paint Booth | Zoned Light Industrial

5.39 AC | Buildings Totaling 20,643 SF | Paved and Fenced | Automatic Gates | Great Access with Multiple Entrances and Exits

3.16 AC | 2,000 SF | 5 Drive-Through Covered Bays | Paved with 8’ Concrete | Direct Access to Union Pacific Mesquite Intermodal Terminal

6.62 AC | Fenced and Surfaced Yard | 15,000 SF Warehouse with 1,500 SF Office | 3-Phase, 600 Amp Power | Close Proximity to I-26, I-77, and I-20

9.23 AC | 250+ Semi-Truck Parking Spaces | Fully Gated and Well Lit with 24/7 Video Monitoring | Light Industrial Zoning | Strategic Location Near FL Turnpike and SR-50 | Situated Next to Christopher C. Ford Commerce Park

2 AC | Fenced and Gated Outdoor Property | Convenient Access to I-270 and I-71 | Potential IOS Usage: Truck Storage, Equipment Leasing, and/or Container Storage