IOS Daily - September 18 - Miramar forms IOS venture with UBS

NEWS ROUNDUP

JOINT VENTURE: Miramar and UBS announce formation of IOS venture. Miramar Industrial Partners, a premier full service real estate investment and development company headquartered in Los Angeles, CA, recently announced the formation of Miramar IOS Partners, LP, an IOS venture exclusively for, and in collaboration with, UBS Asset Management’s Multi-Manager Real Estate business. UBS made an initial commitment of more than $100 million to the venture and has a soft target of $400 million to $500 million for the partnership. Miramar has a pipeline of IOS investments approaching $1 billion. The Miramar team is led by Lew Friedland, Paul Fuhrman, Jae Yi, and Peter Eichler.

ACQUISITION: CanTex acquires total of 14 acre IOS in DFW. CanTex Capital has acquired 4801 Parker Henderson Road and 4700 Martin Street in East Fort Worth, Texas. 4801 Parker Henderson is 4.6 acres with an office and shop totaling 18,062 SF. The adjacent site, 4700 Martin, is 9.4 acres and is currently leased to FedEx for fleet parking. Andrew Wiesemann, Drew Boroughs, and Griffin Pitcher with Matthews RE Investment Services and Luke Hoyl with Virtue RE Partners assisted in the transactions.

DISPOSITION: Foundry sells 16.2 acre IOS in Coral Springs, FL for $34.1M. Foundry Commercial has sold 12640 Wiles Road in Coral Springs, Florida, for $2.1 million per acre. The buyer was Stockbridge Capital Group. The gated truck parking facility is located next to Foundry’s Osprey Logistics Park. The Foundry team is led by CEO Paul Ellis.

DISPOSITION: L&A brokers sale of 23.55 acre IOS in West Sacramento, CA for $17.99 million. Alex Weiss and Greg Pieratt with Lee & Associates represented the seller, Yara North America, in the disposition of 3961 Channel Drive in West Sacramento, California. The site, a decommissioned fertilizer supply terminal, is zoned for heavy industrial use and has been acquired by Teichert.

LEASE SIGNED: InLight leases 7 acre IOS in Jacksonville, FL. InLight RE Partners has leased 7 acres at 8730 Somers Road in Jacksonville, Florida. The new tenant is a leading transportation and logistics company. Darren Ross with Colliers assisted in the deal. InLight still has 13 acres available to lease at the address. For leasing inquiries, contact Jacob Horsley, Kendall Wilson, and Drake Chamberlin with Cushman & Wakefield and Robert Price with InLight. Tell ‘em IOSList sent ya.

UPDATE: In our September 4 edition, we reported on Ridgecut Road’s acquisition of 107 How Lane in New Brunswick, New Jersey. We wanted to update Byline Bank as the lender on a $13.6 million acquisition loan for the property. The loan was arranged by JLL.

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