In today’s email:
Transactions: Deals in PA, GA, NC, CO, FL, AZ, OK. Leases signed in NJ, FL.
On The Market: 1 IOS Listing
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CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings

ACQUISITION: A private buyer acquired an industrial manufacturing and outdoor storage facility in Allentown, PA, in an all-cash sale leaseback transaction. The transaction was completed at nearly two times the asking price. Philip DiGennaro, Jonathan Wolfe, and Blake Micholas of STREAM Capital Partners represented the seller in the transaction.

ACQUISITION: A net-leased industrial outdoor storage property occupied by Fortiline Waterworks in Brunswick, GA, has closed. Matthews announced the sale of the net lease opportunity. Additional transaction details and site specifications were not disclosed. Joe Staszkow, Brett Davis, and Alexander Harrold of Matthews brokered the transaction.

ACQUISITION: Jadian IOS acquired a 6.9-acre industrial service facility at 407 Norwalk St in Greensboro, NC. The property features two buildings totaling 58,075 square feet with 22 drive-in doors, three dock-high loading positions, and a fully paved yard with multiple points of ingress and egress. Located off I-40, the facility is situated minutes from Piedmont Triad International Airport.

ACQUISITION: A private buyer acquired an industrial outdoor storage property at 16255 E. 4th Ave. in Aurora, CO.The property features significant yard and outdoor storage and is fully leased to a national tenant on a long-term lease. The buyer was selected following a competitive process with multiple offers. Matthew Marcus of Colliers represented the buyer; Kristjan Danis of Colliers represented the buyer in the transaction.

ACQUISITION: An undisclosed buyer acquired a 1.83-acre industrial outdoor storage property at 480 Old Daytona Rd in DeLand, FL. The property includes 5,685 SF across existing buildings and closed with two tenants in place. Mark Ascik Jr of SVN Alliance Commercial Real Estate Advisors represented the seller in the transaction.

DISPOSITION: A 4-acre industrial outdoor storage property at 1010 Harvest Street in Durham, NC, sold for $4,250,000. The site features 11,365 square feet of industrial improvements and is secured and gated. The sale equates to $373.96 per square foot. Laythe Jadallah, Will Krickovic, and Davis McNulty of Soholux Realty brokered the transaction.

ACQUISITION: Steel Peak acquired a 2.18-acre industrial service facility in Phoenix, AZ. Max Schumacher is handling leasing information for the property.

DISPOSITION: JLL advised on the sale-leaseback of an 8-property industrial outdoor storage portfolio spanning approximately 26 acres across Florida. The competitive process moved from engagement to closing in under two months, generating strong interest and delivering a final value more than 40% above previous unsolicited interest. Brian Shanfeld, Josh Katlin, and Joe Luebker of JLL represented the seller in the transaction.

DISPOSITION: SRS Capital Markets completed the $2,550,000 sale of a 9.29-acre SiteOne Landscape Supply yard at 16399 U.S. Route 66 in El Reno, OK. The property includes a 9,103-square-foot building with approximately 2.75 acres of outdoor storage, U.S. Route 66 frontage, and direct access to I-40. It is encumbered by a new 10-year corporate lease to SiteOne Landscape Supply with 2% annual rent increases and three 5-year extension options. The asset was acquired by a 1031 exchange buyer following a competitive bidding process. Dave Faris of SRS Capital Markets represented the seller in the transaction, while Joe Cosgrove of Levrose represented the buyer.
CLOSED LEASES
Leased

LEASED: Ambient Capital Partners completed an industrial outdoor storage repositioning in Kearny, NJ for a national logistics user. The project involved demolishing 15,000 square feet of obsolete warehouse space to open up dock access and create a paved, striped, and lit yard with outdoor storage and truck parking. The renovation also included new roofing, dock and door rehabilitation, and clearing land back into functional use.

LEASED: Opifex-Synergy leased 10,140 square feet of warehouse space on 7.46 acres at 1805 Tileston Rd in Saint Cloud, FL. The property offers outdoor storage and functional industrial zoning. Landlord K2 Real Estate Capital executed the lease prior to closing on the site. Devin Beeler of Lober Real Estate represented the landlord; Robbie Lober of Lober Real Estate represented the landlord in the transaction.
MARKET NEWS
On The Market

FOR LEASE: CreateTO issued a Request for Proposals to lease one or more of four industrial properties totaling approximately 20 acres in the South Port district of Toronto, Ontario. South Port and its surrounding districts have historically served as Toronto’s primary industrial gateway, supporting maritime commerce and economic activity. Since the 1970s, South Port has accommodated a significant concentration of salt storage and related operations, taking advantage of access to the St. Lawrence Seaway and regional transportation networks for distribution of goods and materials to Toronto and surrounding municipalities.
South Port provides space for the working port to support key industries, job creators and economic drivers, in proximity to the downtown core and the site of future mixed-use communities that will be served by public transit including the new Waterfront LRT and Ontario Line. The available waterfront sites in the Toronto Port Lands accommodate light industrial, bulk storage, and port-oriented economic uses, including ongoing salt storage operations. Leases are available for up to 10-year terms. The RFP can be accessed on Merx at the link below or by emailing [email protected] to receive a copy, any questions can be directed to [email protected]. https://www.merx.com/public/solicitations/4071334551/abstract
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