IOS Daily - November 3 - Speedwagon Capital Partners redevelops 56 acre IOS

Good morning. This is IOS List, and we protect endangered species.

Now, let’s get to it.

NEWS ROUNDUP

GRAND OPENING: Speedwagon Capital Partners opens Chicagoland Circle K. Speedwagon Capital Partners has announced the grand opening of its new Circle K Fleet convenience store and fueling station on Airport Road in West Dundee, Illinois. The facility is part of the firm’s 56 acre ongoing redevelopment project that will turn the property into a trucking and logistics hub, as well as serving commuters and travelers. The redevelopment also includes a 1,006-space secured truck parking facility, a truck repair and maintenance facility, a truck wash, a restaurant, and office space. Steve Khoshabe, Jason Schiffman, Jeffrey Perelman, and Jon Feld lead the Speedwagon Capital Partners team.

DISPOSITION: Matthews sells 1.13 acre IOS in Orlando metro area for $1.2M. Matthews has facilitated the sale of 560 Sanford Avenue in Altamonte Springs, Florida. The property features a 7,000 SF industrial building and is currently leased to SiteOne Landscape Supply. The sale price of $1.2M reflects a 4.83% cap rate. Taylor Dintzner, John Stroud, and Erik Manarino with Matthews represented the seller and sourced the buyer for the transaction.

ACQUISITION: CoreOne Industrial buys 6.85 acre IOS in Detroit metro area. CoreOne Industrial has acquired 5955 Pardee Road in Taylor, Michigan, through a sale-leaseback deal with Northern Logistics. The property features a 25,360 SF cross-dock truck terminal. The CoreOne deal team included Joe Burton, Robert DePiero, Corey Isdaner, Kyle Coven, Ian Scheinmann, and Scott Goodwin. Derek DeLaura with Friedman Real Estate Group represented Northern Logistics in the transaction.

DISPOSITION: Hyatt Commercial sells 9 acre IOS in DC metro area. Hyatt Commercial Real Estate has facilitated the sale of 2510 Aurora Place in Waldorf, Maryland. The property is currently leased to Williams Scotsman Modular. Bill Steffey, Tyler Wood, and Justin Mullen led the Hyatt Commercial deal team in the off-market transaction.

LEASE SIGNED: Cawley CRE leases 5.45 acre IOS in Chicago. Cawley CRE has facilitated the leasing of 3500 South Kedzie Avenue in Chicago, Illinois. The low-coverage property features 30,000 SF of industrial space. Frank Melchert, Matt Garland, and Andrew Maletich with Cawley represented both the landlord and the tenant, 46 Industrial Services.

FINANCING: Greenspring Realty Partners recaps IOS portfolio. GreenSpring Realty Partners has successfully completed a portfolio recap with WinTrust Financial Corp. The portfolio includes 9 industrial properties in Florida, Virginia, and Arizona. The GreenSpring deal team included Nicki Berg, Goral Khatta, and Daniel Flamholz. The WinTrust team was led by Terry Sutherland. Justin Horowitz with Cooper Horowitz represented Greenspring in the transaction.

FROM OUR PARTNERS

Click on each photo for more information.

4.53 AC | Gravel Driveway with Gated Entry | Lit | Security Cameras | Well and Septic | 11,200 SF Warehouse with 1,600 SF Office and (5) 20’x80’ Drive-Through Bays | 3-Phase Power | 5 Minutes to I-35 Exit, 35 Minutes to Providence and Worcester, and 50 Minutes to Airports

13.65 AC | Pre-approved Site Plan for ±106,205 SF of Industrial | Frontage Along Florida Turnpike | Located Directly off I-95 Exit | 2 Income-Producing Billboards May Be Included in Sale | Light Industrial Zoning

Sunstate Equipment - Sale Leaseback Portfolio (Houston & DFW) | 10-Year Absolute Triple Net Leases | Corporate Guarantee | Annual Bumps | 16450 US-380 West: 4 AC with 9,258 SF Building | 661 Frazier Commerce Drive: 4.67 AC with 15,040 SF Building | Properties Can Be Sold as Portfolio or Separately

2.03 AC | 6,000 SF Warehouse with 1,800 of Office Space, 21’-24’ Clear Heights, and (2) 12’x14’ Dock Doors | 2 Dock Well Positions With Edge of Docks in Place | 1,519 SF of Covered Loading Dock | 1,838 SF Mezzanine | Outside Storage Allowed as an Accessory Use | Excellent Access to I-95, US-92, Williamson Boulevard, Bill France Boulevard, and Nova Road | 5 Minutes to Daytona Intl. Speedway and Daytona Beach Intl. Airport | Less Than 10 Minutes to I-95/I-4 Interchange

7.4 AC of IOS Available (Divisible to 3 AC) | 5,400 SF Flex Building with 1,200 SF Office and 12’x14’ Drive-in Door | 3-Phase Power | Proximity to Interstate Systems

10 AC | Paved and Secure Trailer Staging | Parking for 100-300 Semi Trailers Available | Close to I-75, I-94, I-96, and I-275 | Rate: $150 per Trailer | Email [email protected] or Call 248-567-8021 for More Information