IOS Daily - September 4 - Steel Peak/RPG buy 4.27 acre IOS in San Diego for $12M

NEWS ROUNDUP

ACQUISITION: Steel Peak/RPG buy 4.27 acre IOS conversion in San Diego for $12.1M. A joint venture between Steel Peak and RPG has acquired 9606 Aero Drive in San Diego, California. The property includes a 38,704 SF building. The seller will stay in place through 2025 as part of a leaseback deal. The site also includes a vacant data center that will be converted into a warehouse with grade-level doors, turning the property into a class A IOS facility. The Steel Peak deal team included Blake Rodgers and Pasha Johnson. Kurtis Blanchard and Evan McDonald of Colliers brokered the sale.

ACQUISITION: Ridgecut Road buys 6.5 acre IOS in New Brunswick, NJ. Ridgecut Road has acquired 107 How Lane in New Brunswick, New Jersey. The property includes a 12,000 SF terminal, a 9,000 SF maintenance facility with 14 drive-through doors, and a 20,000 SF warehouse (14.3% coverage). The site is currently leased to 5 tenants. The Ridgecut Road deal team was led by Eric and Scott Shalek. Kyle Gerace with NAI DiLeo-Bram brokered the deal. Michael Klein, Max Custer, and Ben Morgenthal with JLL arranged the financing.

DISPOSITION: DarwinPW sells 3.35 acre IOS in Chicago for $3.75M. DarwinPW Realty has facilitated the sale of 4150 South Packers Avenue in Chicago, Illinois. The property includes a 14,000 SF building. The buyer, Midwest Trailer Repair, was represented by Humberto Garcia of At Home Realty Partners. The DarwinPW team of Terry Lynch and Ed Wabick represented the seller, Stockyard Bricks.

LEASE SIGNED: IOV leases 11 acre IOS in Irving, TX. Industrial Outdoor Ventures (IOV) has leased 3500 Valley View Lane in Irving, Texas, to MEI Rigging & Crating. The site features a 4,534 SF maintenance shop and a 2,390 SF office building. Davidson Bogel’s David Guinn, Martin Grossman, and Keaton Duhon represented IOV. David Cartwright with Armour Realty represented the tenant.

FINANCING: TerraCotta funds $24M bridge loan for IOS in Anaheim, CA. The TerraCotta Group has funded a bridge loan secured by 1477 North Jefferson in Anaheim, California. The 7.75 acre IOS is owned by North Palisade Partners. NPP’s deal team included Joe Mishurda, Jeff Hedges, and Cole Henriksen. JLL’s Brian Torp and Peter Thompson assisted with the deal. The TerraCotta Group is led by Darren Cline.

IOS PROPERTIES NEEDED IN NYC

5.55 AC | 3,294 SF Office Building | 6,400 SF Shop Building With 3 Bays Paved, Fenced, Lit | For Sale or Lease

1.88 AC | 5 Buildings Totaling 9,867 SF | Fenced and Secured | Sewer and Heating Utilities Available

2 AC | 3,200 SF Maintenance Facility | Immediate Access to I-195 and I-95 Truck and Trailer Parking

5 AC | 11,000 SF Maintenance Shops | Access to Route 130, I-295 and NJ Turnpike | Paved Site

1.83 AC | 7,000 SF Service Facility | 2,600 SF Additional Storage | Close to I-77 and I-485 | Fenced and Paved Parking

2.9 AC | 8,000 SF Building | 1,300 SF Office | Immediate Access to I-85