YardDogs -
Welcome to this Thursday’s breakdown of the latest industrial outdoor storage (IOS) transactions.
In today’s email:
Transactions:
• 6 acquisitions across GA, FL, CO, PA, LA, and CA
• 3 leases signed in IL, TX…plus one in Australia!Recommendation: Finding Opportunity by David Skinner at Prescott IOS
CLOSED TRANSACTIONS
Acquisitions and Dispositions
ACQUISITION: 2520 Jake Drive in Cumming, GA leased to FleetPride, recently closed! Harrison Auerbach and Thomas Wilkinson from Matthews generated multiple competitive offers and the deal closed with a repeat all-cash buyer.
ACQUISITION: Zenith announced the acquisition of a 3 AC site improved with a 22,000 SF warehouse, strategically located minutes from Orlando International Airport. The transaction was led by Anton Pick and Alex Guider. For future acquisition opportunities in the Orlando market, please reach out to James Baker. Bruce Schoenbrun sourced this opportunity, and Ryan and CJ Griffith successfully pre-leased the building.
DISPOSITION: Pinnacle Real Estate Advisors announced the sale of a 30,080 SF industrial outdoor storage asset for $11,425,000 located at 4160 Busch Place in Frederick, CO. Peter Sengelmann and Paul Schneider represented the seller, Bear Peak Development in the transaction. For more information on this sale please contact Peter or Paul.
ACQUISITION: 3740 E Thompson Street, a 25,000 SF industrial building on 4.35 AC of outdoor storage off I-95 in Northeast Philadelphia, just sold! Chris Pennington of Binswager brokered the sale.
DISPOSITION: Louisiana manufacturing facility on the Intracoastal at the Mississippi River just sold! This site is the former Trinity Marine hopper barge manufacturing facility. It is situated on the Intracoastal Waterway and features 211,648 SF on 84 AC. Bryce French and the CBRE team including Jack Sikora and Sasha Abery represented the Seller, Specialized Marine Services, LLC and Jay Leblanc. Peter Laville with ELIFIN® represented the Purchaser along with Ragan Richard with Phelps Dunbar LLP. Cameron Miller helped facilitate the sale. The site was purchased by a foreign entity that will continue to use it as a maritime served manufacturing facility.
ACQUISITION: Alterra IOS announced the acquisition of 2660 Cactus Road, San Diego, CA! The site features 5.11 usable acres with 30,000 SF office and open canopies. The property is adjacent to the U.S.-Mexico border and fully leased to national tenant. Matt McNutt led this transaction and Mickey Morera of Kidder Mathews helped facilitate the sale.
LEASES SIGNED
Recently Leased Properties
LEASED: Timberhill Group has leased half of their site at 900 Christina Drive in East Dundee, IL. Terry Lynch and DarwinPW Realty helped get the deal across the finish line! TimberHill still has 12 acres of safe, secure, and convenient outdoor storage available.
LEASED: JLL announced the successful lease of Building C at 142 Sherbrooke Road, Willawong in Australia on behalf of Centennial. The low site cover freestanding facility was leased to a group expanding into the QLD market from Sydney. Harry Homan from JLL facilitated the transaction and Dan Goodrum led the efforts on the Centennial side.
LEASED: Andrew Wiesemann and Griffin Pitcher recently leased 10615 Fishtrap Rd, an industrial outdoor storage facility in Aubrey, Texas. Over the next few months, this asset will be improved to accommodate the new tenant’s needs while securing a long-term lease. Reach out to Andrew or Griffin if you are a tenant looking for IOS space or are a landlord looking to fill a vacancy.
RECS
Reading Recommendation
New to IOS?
Start with our guide: What is Industrial Outdoor Storage?
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.