IOS Daily - September 17 - Criterion and Columbia Pacific secure $180M refi loan for IOS portfolio

Good morning. This is IOSList, and we turn you into an IOS savant in just 5 minutes a day.

Now, let’s get to it.

NEWS ROUNDUP

FINANCING: Criterion and Columbia Pacific secure $180M refi loan for IOS portfolio. Criterion Group and joint venture partner Columbia Pacific Advisors have secured a $180M loan from Axos Bank to refinance a portfolio of 34 IOS assets totaling 290 acres. The properties are located in Connecticut, Florida, Georgia, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia. Christopher Peck and Peter Rotchford with JLL arranged the transaction for the 5-year, floating-rate loan.

ACQUISITION: Lincoln and Brasa buy future IOS site in San Diego for $26.2M. Lincoln Property Co. and Brasa Capital Management have acquired Spectrum Tech Center, located at 4820 Overland Avenue and 9112 Spectrum Center Boulevard in the Kearny Mesa submarket of San Diego, California. The property features an industrial building and an office building on 8.8 acres. The new owners plan to rebrand the property as Spectrum Logistics Center and demolish the office building, replacing it with a 3.7 acre IOS yard. The Brasa leadership team includes Eric Samek, Ji Jeon, Matt Milich, and Jeff Furber. The Lincoln Property Co. team is led by Clay Duvall, David Binswanger, and Greg Courtwright.

ACQUISITION: Realterm buys 34.11 acre IOS in El Paso, TX. Realterm has acquired 11090 Gateway Boulevard in El Paso, Texas. The property features a 30,632 SF fleet maintenance facility with 14,148 SF of shop space. The property is fully leased to TFA Logistics. The Realterm deal team included Ed Brickley, Brennan Cascarano, Joe Noon, Gianni Vissat, Jack Devlin, Tommy Feeney, Brian Dowling, and Glenn High.

ACQUISITION: Alterra IOS buys 22 acre IOS in San Antonio metro area. Alterra IOS has acquired 11226 I-10 East in Converse, Texas. The property is fully leased and includes several industrial buildings totaling 75,939 SF. Gavin Weaver led the Alterra deal team. Kenny Hartmann, Colton Perkins, and Andrew Katzfey with Stream Realty Partners facilitated the transaction.

DISPOSITION: Matthews sells 2.59 acre IOS in Atlanta metro area. Matthews Real Estate Investment Services has facilitated the sale of 6711 Oak Ridge Commerce Way in Austell, Georgia. The low-coverage property features a 9,000 SF industrial building. The Harrison Auerbach and Thomas Wilkinson with Matthews represented the seller and sourced the buyer for the off-market transaction.

READ: How the AI data center buildout boom is igniting demand for IOS. IOS hits the mainstream with this feature piece by the NY Times. Quoted in the article: Cary Goldman with Timber Hill Group, Ryan Chambers with PwC, Leo Addimando with Alterra, and Matt Hunsucker from IOS List.

FROM OUR PARTNERS

Upgrade your IOS yard with fiber-reinforced asphalt that outperforms gravel and traditional mixes. FORTA-FI® delivers longer-lasting pavement, resisting rutting, cracking, and heavy-equipment wear for lower maintenance and higher ROI.

Click on each photo for more information.

10+ AC | ±30,000 SF Warehouse with Oversized Drive-in Doors | Multiple Industrial Tenants | Heavy Industrial Zoning | Close to I-95, Baltimore Port, and Major Interstates

5.02 AC | Fully Operational, Secured, and Fenced | Secured 24/7 Access | LED Lighting | Infrared Tag Readers and Cameras | 104 Truck Parking Spaces | Month-to-Month Leases | Light Industrial Zoning

For Sale and Lease | 28.88 AC Site with 4-13 Usable AC | Partially Graveled, Fenced, and Lit | Onsite Utilities | Modular Offices | 10 Minutes from the I-40/I-85 Interchange

11.84 AC | Fully Paved and Lit | 256 Trailer Parking Stalls and 11 Auto Parking Stalls | Located on the Centerpoint Intermodal Center Campus | Proximity to Full Interchanges at I-55/Arsenal Road, I-80/I-55, I-80/Houbolt Road, and I-80/IL-53

2.5 AC | 10,200 SF Distribution Building with 4 Drive-ins, 1 Exterior Loading Dock, and 15’ Clear Height | Power at 1,400a/120-280v (Heavy) | Excellent Visibility and Access to Major Highways, Port Newark, and Newark Liberty Intl. Airport

24.56 AC | Fully Improved with New Gravel/Rock Surface | 3 Buildings Totaling 20,700 SF: 3,200 SF Office, 4,000 SF Warehouse, and 13,500 SF Warehouse | Grade- and Dock-Level Loading | Close to FM 372, I-35, and a Growing Corridor of Major Retailers and Redevelopment