In today’s email:
Transactions: Deals in FL, NJ, NY. Leases signed in FL.
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CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings
ACQUISITION: Gazza South II LLC acquired 9.80 acres of vacant industrial land at 2601 SW Waterside Way in Stuart, FL, for $5.5 million. The site is situated within South Florida Gateway along Southwest Kanner Highway in the Treasure Coast market, representing an opportunity for future industrial and outdoor storage development.
DISPOSITION: Foundry Commercial announced the sale of 4021 Tampa Road in Oldsmar, Florida. The transaction in the Tampa MSA was completed on August 5th for a repeat client. Dale Peterson, Christine Mansour, Chris DeMartino, Meghan Moeltner, Jamie Dunford, and Ryan Jeffers of Foundry Commercial represented the transaction.
ACQUISITION: Centurion Realty acquired the 3.87-acre Electronics Way Industrial Park at 2658 & 2660 Electronics Way in West Palm Beach, FL, for $7,750,000. The industrial property features a 41,735-square-foot facility and was sold by Mary Peterson in an off-market transaction. Jose Sasson Lerner and Roberto Susi of AXIOM Capital Advisors represented the buyer in the transaction.
FINANCING: Realterm and Starwood Property Trust announced the closing of a $672 million industrial outdoor storage portfolio financing secured by a 78-property portfolio. The portfolio encompasses 830 acres of land across 33 U.S. markets and is owned by affiliates of Stonemont Financial Group and Cerberus Capital Management.
ACQUISITION: Clarion Partners Real Estate Income Fund Inc. acquired a four-property industrial outdoor storage portfolio totaling approximately 26 acres and 219,000 square feet across Central New Jersey, Houston, Dallas-Fort Worth, and Atlanta. The transactions expand the fund's strategic allocation to the growing IOS sector.
ACQUISITION: Jadian IOS acquired a 1.7-acre industrial service facility at 45 Samworth Rd in Clifton, NJ. The site features a 27,100-square-foot building with a 20-foot clear height, three oversized drive-in doors, two dock-high doors, and a fully paved and secured yard. The property is located less than 10 miles from the Lincoln Tunnel with access to I-80 and I-95.
ACQUISITION: Jadian Capital acquired a 53-acre industrial outdoor storage site at 1800 & 1900 South Avenue on Staten Island, NY, for $167 million. The site was sold by Kadima Industrial Partners and is fully leased to City Asphalt and IAA. The waterfront property features dock and train access. Gary Gabriel, Ryan Larkin, Seth Zuidema, Helen McCarthy Paul, Rico T. Murtha, and Kyle Schmidt of Cushman & Wakefield represented the seller in the transaction.
CLOSED LEASES
Leased
LEASED: A 4.5-acre industrial outdoor storage yard at 12175 122nd Ave N in Clearwater, FL, was leased to a concrete crushing operator. The site, owned in partnership with Catalyst Investment Partners, functions as a laydown yard and drop lot. Robbie Lober and Devin Beeler of Lober Real Estate represented the parties in the transaction.
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Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.