How Severe Weather Impacts IOS

TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Ambient Capital Partners has acquired a 48.7-acre IOS portfolio of six properties in Harrison and Kearny, NJ (for $156.3 million). NAI James E. Hanson brokers Scott Perkins, Christopher Todd, and William Ericksen represented Ambient Capital Partners. Murphy Schiller & Wilkes LLP’s Kellen Murphy, Charles J. Wilkes, Holly Burke, Jessica R. Brenner, Joseph Vigliotti and Diana Dziedzic represented the seller.

ACQUISITION: Jadian IOS acquired an 18.4-acre truck terminal and industrial service facility directly off of I-95 in Salisbury, MA.​ The Jadian team that worked on this transaction included ​Alex Stahl​, ​Kees t'Sas​, ​Daniel Schuchinsky​, and ​Matthew Hennessy​.

DISPOSITION: ​Matador Capital has successfully sold a 7.22-acre IOS site featuring 60,558-square-feet in Fort Worth, TX, after leasing it to a major manufacturing company.​ The acquisition and leasing were facilitated by ​Todd Hubbard​, ​Jeff Jackson, SIOR, CCIM​, and Michael Newsome from NAI Robert Lynn. The sale was completed with the help of ​David Guinn, SIOR​, from Davidson Bogel.

ACQUISITION: Alterra IOS has acquired three industrial outdoor storage (IOS) sites totaling 14 usable acres in the Chicago metro area. The properties are located in Elk Grove, Minooka, and East Chicago, Indiana. All three locations are fully leased to United Rentals.

LEASING 
Leases Signed

LEASE: Fortiline Waterworks, one of the largest distributors of underground utility products, has leased a 4.5 acre property with a 5,692-square-foot facility at 1361 Dean Forest Rd in Savannah, GA. Sebastian Findlay, SIOR, and Zachary Zakas from Colliers represented IOV, while Ashley W. Smith, SIOR, CCIM, and Tammy Lomonaco with Colliers represented the tenant.

LEASE: Sitex Group recently leased their 2.25-acre site at 360 Kingsland Avenue with the help of NYC Logistics & Industrial Services group at Cushman & Wakefield. The Cushman & Wakefield team involved includes Rico Murtha,  Helen McCarthy Paul, Gurpreet S., Joseph Hentze Jr., Gus Weaver, and Amanda Gerhardt.

MARKET OUTLOOK
Leading Economic Indicator

​The CEI (black line) reflects current economic conditions and is highly correlated with real GDP. 

The LEI (blue line) is a predictive tool that anticipates—or “leads”—turning points in the business cycle by around seven months. Using the LEI is a helpful tool to project future macroeconomic sentiment.

Some key components of the Leading Economic Index (LEI) for the U.S. are:

1. Average weekly hours in manufacturing

2. Average weekly initial claims for unemployment insurance

3. Manufacturers’ new orders for consumer goods and materials

4. Manufacturers’ new orders for nondefense capital goods excluding aircraft orders

5. Building permits for new private housing units

6. S&P 500 Index of Stock Prices

7. Leading Credit Index

8. Interest rate spread (10-year Treasury bonds less federal funds rate)

9. Average consumer expectations for business conditions

Stay tuned (and make sure you're subscribed) for next week's newsletter where we take a look at the latest data from the Conference Board!

RECS
Worth a Look

• Article: America's New Millionaire Class: Plumbers and HVAC Entrepreneurs by The Wall Street Journal — Private equity continues to pour money into skilled-trade small businesses. These PE shops are buying home services businesses which have been traditionally mom-and-pop owned, and often paying millions to acquire them from the operators.

• Article: IKEA Revenue Falls After It Lowered Prices by CNN — In an effort to counter inflation, Ikea reduced prices on about 2,000 products last year, leading to a surge in orders but a 4% drop in revenue. At least someone is trying to support inflation-weary customers...and the company has a long-term promise to lower prices in the future!

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