In today’s email:
Transactions: Deals in NJ, PA. Leases signed in VA, NY.
On The Market: 1 IOS Listings
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CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings
DISPOSITION: A 0.63-acre industrial property at 822 Swayne Avenue in Lyndhurst, NJ, was sold in a disposition transaction. Cushman & Wakefield represented the seller in the disposition while also advising the buyer on the transaction. The property spans 0.63 acres in Lyndhurst. Mindy Lissner, Bill Waxman, David Gheriani, Jeff Volpi, Morgan Nitti, Michael Ugarte, TJ Calderone, and Sydney Greenspan of Cushman & Wakefield represented the seller and advised the buyer in the transaction.
ACQUISITION: Pennwood Development Group, in partnership with Catalyst Commercial Development, LLC, acquired an 18-acre industrial site at 449 N. Fairville Avenue in Harrisburg, PA. Located off I-81 in West Hanover Township, Dauphin County, the project will feature approximately 8 acres of secured industrial outdoor storage. Closing on the property has completed and site work is currently underway.
CLOSED LEASES
Leased
LEASED: A 63,657-square-foot industrial building on 5.0 acres at 10589 Redoubt Road in Manassas, VA, was leased to a new tenant. The property was recently acquired by Penzance and includes a 63,657 SF warehouse alongside 5.0 acres of industrial outdoor storage. John Dettleff, Jeb Boland, Sam Haas, and Ethan Lankford of JLL represented the landlord in the transaction.
LEASED: A 17,270-square-foot industrial outdoor storage site at 252 Maspeth Avenue in Brooklyn, NY, was leased. The property was leased in under 45 days of being brought to market. Asking rent was $18 per square foot on a modified gross lease. Ruben Kast De Martinez and Michael Maunsell of Symmetry CRG and Ranee Jaber of DY Realty Group, LLC represented the landlord in the transaction.
MARKET NEWS
On the Market
FOR SALE: Preferred Real Estate Brokers is marketing a 3.2-acre industrial property for sale at 2270 Dobbs Road in St. Augustine, FL, with an asking price of $2,400,000. The site features IW zoning, which allows for Industrial and Industrial Outdoor Storage (IOS) uses, as well as an existing ±2,448 SF industrial building equipped with two drive-in doors and 3-phase power. The property provides convenient access to I-95. Contact Mark Williams ([email protected]) for more information.
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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.