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Welcome to this Thursday’s breakdown of the latest industrial outdoor storage (IOS) transactions.

In today’s email:

  • Transactions:

    • 5 acquisitions across TX, FL, and IL
    • 1 national equipment rental portfolio acquisition
    • 4 leases signed in GA, AZ, CO, and CA

  • Recommendation: Recent IOS News You May Have Missed

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION:  Alterra IOS announced the acquisition of 12 Class A IOS properties, totaling 43.3 usable acres with over 165,000 square feet of accompanying warehouse space. The properties are situated in key metropolitan areas across the country, including Austin, Phoenix, Raleigh-Durham, Sacramento and Tampa. All of the properties in the portfolio are fully leased, featuring newly constructed locations built-to-suit for the tenant. The locations included in this transaction are:

  • Kings Mountain, N.C. (Charlotte MSA): 7.0 usable acres with 20,950 square feet

  • Port Allen, La. (Baton Rouge MSA): 5.8 usable acres with 23,060 square feet

  • Malabar, Fla. (Palm Bay MSA): 4.9 usable acres with 19,700 square feet

  • Apache Junction, Ariz. (Phoenix MSA): 4.2 usable acres with 10,850 square feet

  • Conway, S.C. (Myrtle Beach MSA): 3.6 usable acres with 10,850 square feet

  • Wilmington, N.C. (Wilmington MSA): 3.0 usable acres with 14,400 square feet

  • Sacramento, Calif. (Sacramento MSA): 3.0 usable acres with 9,440 square feet

  • Monroe, La. (Monroe MSA): 2.7 usable acres with 15,250 square feet

  • Austin, Texas (Austin MSA): 2.5 usable acres with 9,600 square feet

  • Ocala, Fla. (Ocala MSA): 2.4 usable acres with 15,110 square feet

  • Tampa, Fla. (Tampa MSA): 2.4 usable acres with 9,440 square feet

  • Wake Forest, N.C. (Raleigh-Durham MSA): 1.6 usable acres with 10,800 square feet

This acquisition was brought to Alterra IOS by Rory Shelby and Scott Gould of Marcus & Millichap.

ACQUISITION: CanTex Capital recently sold 7321 Kennedale to Outour Storage Investments. Alex Keeton and the team at Stream facilitated the transaction! 7321 Kennedale features a 16,000 SF facility on 8.7 acres in West Arlington with connectivity to major thoroughfares, complemented by recent upgrades including ground stabilization, yard lighting, warehouse/shop enhancements, and a spec office build-out. Alex Keeton and the Stream team are also leasing this property, so reach out to Alex for more info.

ACQUISITION: Triten Real Estate Partners has acquired a 25-acre Industrial Outdoor Storage (IOS) portfolio across two sites in the Houston MSA. The properties are located at 12202 Cutten Road in NW Houston (20.1 acres) and 1503 Industrial Drive in Missouri City (5.45 acres with a tilt-wall facility). The Triten team included Scott Arnoldy, Jr, Will Hedges, and Keith Gabrielson.

ACQUISITION: IGL recently closed on 4720 Laredo Ave in Ft Myers, Florida. This 5,200 SF repair shop on 1.25 acres is adjacent to IGL and Meadow Partners’ property at 4750 Laredo Avenue where they recently signed a lease with United Rentals. Thomas Mammolito at Imperium sourced the opportunity.

ACQUISITION: 9329 Bernice Avenue in Schiller Park, IL,  an approximately 3,634 SF industrial facility on 1.9 acres with heavy power, multiple repair bays, and a fully paved, secured yard just closed! This asset was sold by private investors to a local logistics firm looking to expand their operations near O’Hare International Airport. The site features access to I-294 and proximity to the cargo entrance. Matt Garland, Andrew Maletich, SIOR and Allison Malzone represented the Seller in this transaction. Tatiana V. Bermudez and Mike Sedjo also helped get this across the finish line.

LEASES SIGNED
Recently Leased Properties

LEASED: Criterion Group announced that Southeast Connections LLC leased 4801 Old Louisville Road in Garden City, GA. The 7.1-acre property consists of a 7,193 shop with 5 overhead doors and a two-story office. Sebastian Findlay, SIOR and the Colliers team represented Criterion in lease negotiations.

LEASED: 1127 W 46th Avenue located in Denver’s booming Sunnyside neighborhood just leased! Solomon Stark and the NAI Shames Makovsky team facilitated the lease. 

LEASED: Colliers announced the successful lease of 8977 Railroad Avenue in Oakland. This ±2.24 acre industrial site includes a ±8,921 SF building with 21’-26’ clear height, three grade-level doors, and a fully fenced & secured yard. The location provides immediate access to I-880 and the Port of Oakland. The Colliers team represented both the Landlord and the Tenant at this site and included Nick Ousman, SIOR, Greig F. Lagomarsino, SIOR, Chris Stauber. Congratulations to Patrick Maloney, Barry Gibbons and the entire team at Circle Industrial on the lease!

RECS
Reading Recommendation

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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.

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