IOS Daily - May 5 - Cushman & Wakefield brokers sale of 11 acre Phoenix IOS for $13M

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NEWS ROUNDUP

ACQUISITION: CushWake brokers sale of 11 acre IOS in Phoenix for $13M. Cushman & Wakefield has facilitated the sale of 1945 West Broadway Road in Phoenix, Arizona. The heavy industrial-zoned property features several structures totaling 118,490 SF. Will Groves with Cushman & Wakefield represented the buyer, Capitol Engineering Co. Bryce MacDonald, Foster Bundy, and Phil Haenel (also with Cushman & Wakefield) represented the seller. Shane Doherty and Daphne Wright with Commonwealth Land Title Insurance Co. assisted in the transaction.

DISPOSITION: Matthews sells 5.15 acre IOS in Odessa, TX for $5.25M. Matthews Real Estate Investment Services has facilitated the sale of 2121 East 2nd Street in Odessa, Texas. The property features 44,000 SF of warehouse space and is currently leased to SunSource. Taylor Dintzner, John Stroud, and Erik Manarino with Matthews represented the seller in the transaction.

LEASE SIGNED: Lee & Associates leases 2.17 acre IOS in Los Angeles area. Lee & Associates has facilitated the leasing of 14708 Valley Boulevard in City of Industry, California. The property includes a 1,500 SF building. The new tenant, JFK Transportation Co. Inc., has signed a 60-month agreement valued at over $2.5M. Jack Haley and Greg Diab with Lee & Associates | Orange represented the tenant in the transaction.

LEASE SIGNED: Metz Industrial Group lease 0.8 acre IOS in New Jersey. The Metz Industrial Group (MIG) of Bussel Realty Corp. has facilitated the leasing of 1925 Fourth Street in North Brunswick, New Jersey. The property includes a 16,000 SF industrial building. Jordan Metz, Benito Abbate, and James Friel with MIG represented the landlord, Omni Group, in the deal. Weichert Realtors represented the new tenant, Riverview Cos. of New Jersey.

LEASE SIGNED: Prescott leases 3.5 acre IOS in Sturbridge, MA. Prescott has facilitated the leasing of 51 Technology Drive in Sturbridge, Massachusetts. The property features a 10,000 SF industrial building. The new tenant is Greystone Utility Services, and the landlord is 51 Technology LLC. David Skinner, Ellen Garthoff, and Vincent Cannistraro led the Prescott deal team.

FINANCING: B&D Holdings recaps IOS/shallow bay portfolio in VA and FL. B&D Holdings has recapitalized a portfolio of 7 IOS and shallow bay industrial properties in Virginia and Florida. Combined, the properties total 580,000 SF. The B&D team is led by Martin Segal and Robert Logan. (If you’re interested in shallow bay industrial properties, check out our sister publication Small Bay List.)

FROM OUR PARTNERS

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4.98 AC | ± 2.5 AC of Secured Yard with Electronically Controlled Gates | 70% Heavy-Duty 8” Thick Reinforced Concrete/30% Gravel Contained in True Grid Paving System | 20,220 SF Warehouse with 6,216 SF Office, 24’ Clear Height, Concrete Tilt, (8) Motorized 14’x16’ and (1) 12’x14’ Overhead Doors | Close to I-35, I-10, and Loop 410

2.4 AC | Gated and Paved | Ample Space for Parking, Loading, IOS, and Future Expansion | 20,001 SF Class C Industrial Complex with 20’ Clear Height, 2 Pull-Through Bays, and 2 Exterior Loading Docks | Located in Opportunity Zone | Close to CSX Rail, I-96, and Williamsburg Regional Airport

2.97 AC | 11,928 SF Warehouse with 7 Drive-in Doors | Recent Renovations | Ample IOS Space | Excellent Location Near AmeriPlex at the Port | Less Than 1 Mile to I-94

4 AC | Paved, Fenced, and Lit | 35,803 SF Warehouse with 1,219 SF Office | 3,000 Amps, 277/480v, 3-Phase Power | Natural Gas | Sprinklers | 6 Grade-Level Doors | 22’-30’ Clear Heights | Close to Loop 202, I-10, and I-17

2.4 AC | Paved, Lit, and Fenced | 3 Phase Power | Ample Storage Space | 4,349 SF Warehouse with 3 Grade-Level Doors | 7,551 SF Office | Direct Access to I-69C

0.78 AC | 835 SF Office Building | M-1 Zoning | Fully Paved and Fenced