IOS Daily - September 24 - Triten, Principal form JV to recap 17-property IOS portfolio

NEWS ROUNDUP

JOINT VENTURE: Triten, Principal form JV to recap 17-property IOS portfolio. Triten Real Estate Partners and Principal Asset Management have formed a joint venture (JV) to recapitalize a 17-property IOS portfolio spanning 5 US markets. The portfolio covers about 120 AC and 340,000 SF in Atlanta, Houston, Dallas-Fort Worth, Kansas City, and Miami and was previously owned by a partnership between Triten and TP AG. Principal acquired TPG AG’s interest, while Triten will retain an ownership stake and continue operating the portfolio. The Triten deal team included Scott Arnoldy and Zach Dobin. Devin Chen led the Principal deal team.

DISPOSITION: Gold and Co. sells 16.5 AC IOS in Baltimore for $11.1M. Gold and Company has facilitated the sale of 1935 and 1999 Chesapeake Avenue in Baltimore. The property features a 400’ bulkhead and is currently leased to AMPORTS. The buyer was Chesapeake Terminals. Jim Chivers and Will McCullough with Gold and Co. led the Gold and Co. deal team.

ACQUISITION: Hampton Partners buys 12.95 AC multi-tenant IOS site in Omaha, NE. Hampton Partners has acquired 4100 South 76th Circle in Omaha, Nebraska. The property is home to more than 10 tenants. The Hampton Partners deal team included Tim Callahan, Patrick Pritchard, Lindsay Drakos, Joshua Schultze, Tucker Robinson, and Jeff Robinson. Scott Schneiderman and Dean Hokanson with CBRE facilitated the transaction.

ACQUISITION: JLL brokers sale of 17.38 AC in Fairfield, CA. JLL has facilitated the sale of 1980 Huntington Court in Fairfield, California. The property features 6 industrial buildings totaling 108,178 SF. Chris Burns and Matt Bracco with JLL represented the buyer, Alterra Property Group, in the transaction. Parker Pearson and Liam Loftus led the Alterra deal team.  

LEASE SIGNED: Lober leases 5 AC truck terminal in Tampa, FL. Lober Real Estate has facilitated the sale of 9801 Palm River Road in Tampa, Florida. The property features a 26,000 SF cross-dock truck terminal. Robbie Lober and Devin Beeler with Lober Real Estate represented the landlord, Realterm, in the transaction. Jessica Mizrahi and William Domsky with Lee & Associates | Tampa Bay represented the tenant.

LEASE SIGNED: SRS Industrial leases 3.5 AC IOS in Lakeside, CA. SRS Industrial has facilitated the leasing of 3.5 AC of IOS space at 12650 CA-67 in Lakeside, California. Kurtis Blanchard with SRS Industrial represented the tenant, Bragg Cos., in the transaction.

4.2 AC | 2 Buildings Totaling 19,490 SF | (4) Oversized Drive-in Doors | (1) Dock Door | Outdoor Storage with Compacted Stone/Millings Base | Located in Heart of Edinburgh with Immediate Access to I-65 and US-31 | ASKING PRICE: $1,599,000

5.03 AC | Fenced, Gated, and Lit | 10,825 SF Building with Office Space and 5 Grade-Level Doors | 2,400 SF Pole Barn | Quick Access to I-75, Telegraph, Dix-Toledo, and Fort Street

For Sale or Lease | 10,09 AC | Permitted for IOS | Fenced and Gated | 10,400 SF Warehouse and Covered Storage | 2,000 SF Office/Shop | Immediate Access to Denver’s Major Connecting Interstates, Including I-76, I-70, and I-25 | ASKING PRICE: $10,100,000

FOR SUBLEASE: 9.1 AC | Partially Paved with Millings | Dolly Pads | Power On-Site | Close to NJ Turnpike, I-95, I-78, Port Newark, Port Bayonne, and Newark Liberty Intl. Airport | Available Immediately

2-10.23 AC Available | Fully Fenced with Automatic Gates | Crushed Rock Surface | Lit | Utilities Onsite | Immediate Access to US-287 and Loop 820 with Convenient Access to I-20 and I-30 | Flexible Term | 8 Miles to Downtown Fort Worth, 21 Miles to DFW Intl. Airport, and 30 Miles to Downtown Dallas

10 AC | Immediate Access to I-55 and Proximity to I-80, Enabling Efficient Distribution Throughout Chicago Metro Area and Across National Freight Corridors | Reefer Pre-Trip Available | Chassis M&R On-Site | Container M&R On-Site | Mobile M&R Truck Support | Small-Scale Modifications/Customization Available | Finish Vehicle Options (Parking/Uplifting)