IOS Daily - September 25 - Transport Properties sells potential IOS site in Illinois

NEWS ROUNDUP

DISPOSITION: Transport sells 3 acre potential IOS in Chicagoland. Transport Properties has sold 6900 Santa Fe Drive in Hodgkins, Illinois. Transport purchased the property in 2023 to redevelop into an IOS site. The Transport deal team was led by Tim McCahill and Joe Feeney. Sean Henrick and Ryan Klink with Cushman & Wakefield represented Transport in the sale. Kevin Schultz with Newmark represented the buyer.

ACQUISITION: Miramar buys 4.19 acre IOS in Fort Worth, TX. As one of the initial seed acquisitions of Miramar IOS Partners, Miramar has closed on the acquisition of a 4.19 acre stabilized IOS project located in Fort Worth, Texas. The project is leased for ~10 years to SRS Distribution Inc., a Texas-based distributor of roofing materials and building products that was recently acquired by The Home Depot. Mickey Morera with Kidder Matthews represented the seller, Equity Advisors Group Inc.

DISPOSITION: Centurion sells 15.19 acre IOS in Jacksonville, FL to Alterra. Centurion Realty has sold 325 Clark Road in Jacksonville, Florida. The property includes a 17,924 SF building. The buyer was Alterra Property Group. The Centurion deal team was led by Saul Tawil. The Alterra deal team was led by Mark Gannon.

LEASE SIGNED: Open Industrial leases 4.7 acre IOS in Richmond, VA area. Open Industrial has executed a lease on 16411 Route 1 in South Chesterfield, Virginia. The site features a 16,000 SF warehouse with 4 small bays. The new tenant is Mobile Air & Power Rentals, a subsidiary of Resolute Industrial. The Open Industrial deal team included Jared Okun, Joshua Gurland, and Michael Hutton. They were represented by JLL’s Muscoe Garnett and Jake Servinsky. Brad Lipton with Mohr Partners represented the tenant.

LEASE SIGNED: Zenith leases 18 acre IOS in Pinellas Park, FL. Zenith IOS has signed a build-to-suit lease with Insurance Auto Auctions (IAA) for 5303 126th Avenue North in Pinellas Park, Florida. Through the deal, IAA will lease 18 acres at Sunshine Industrial Park, which has a total of more than 50 acres of IOS space. John Dunphy, Charlie Kenning, and Grant Glattly with JLL represented IAA in the deal. Franklin Street’s Brad Hutton, Pat Kelly, and David Hovis represented Zenith, who acquired the property in 2022 for $27.5 million.

READ: Takeaways from the IOS conference in Long Beach. Shout out to David Kinney with IOS Southwest LLC.

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18.29 AC | Additional 4.62 Acres of Developable IOS | 77,893 SF Warehouse | 14,141 SF Truck Service Station and Transfer Terminal | I-40 and I-85

2.56 AC | 10,000 SF and 5,600 SF Class B Buildings | 4 Drive-in Doors | More Than 80 Parking Spaces | Fenced and Gated

5.02 AC | 10,350 SF Office Building | 16’ Clear Height | Close to Sarasota/Bradenton Intl. Airport

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5 AC | 11,000 SF Maintenance Facility | Close to Route 130, I-295, and the NJ Turnpike | Paved Site

12.2 AC | 1,364 SF Office Trailer | I-76, I-25, I-70, and I-270 | 300 Trailer Parking Stalls | Paved, Fenced, and Lit

1.94 AC of Vacant Land | Close to I-17 | A-2 Zoning