In today’s email:
Transactions: Deals in CA, FL, TX, NJ, MA, AZ. Leases signed in AZ, TX, CA, FL.
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CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings

ACQUISITION: A ±6.35-acre industrial outdoor storage property at 10352 Enos Lane in Shafter, CA, has closed. The property features M-3 zoning, a functional yard configuration, and two pole barn structures totaling approximately ±20,000 SF. It is suited for contractor storage, truck parking, and fleet operations, with access to Highway 99 and Interstate 5. Eric Powers, Ross Puskarich, and Chad Brock of Lee & Associates Central California facilitated the transaction.

FINANCING: A joint venture between Brennan Investment Group and Barings secured a $150 million acquisition credit facility to support an industrial outdoor storage platform. JLL Capital Markets arranged the credit facility, which initially backs a five-property seed portfolio across Denver, Houston, and Austin, Texas, and will support future asset aggregation. Lucas Borges, Matthew Schoenfeldt, Sam Tarter, Emma Berner, and Ryan Planek of JLL arranged the financing.

DISPOSITION: A 6.73-acre industrial outdoor storage property in Plant City, FL, sold for $3.9 million. The site features a 7,390-square-foot two-story office building and a 9,400-square-foot warehouse, offering a total of 16,790 square feet. Located along the Interstate 4 corridor, the property includes eight grade-level doors, an 18-foot clear height, and secure, fully fenced outdoor storage with direct I-4 frontage and visibility. Nick Ganey of Boutique National facilitated the transaction.

DISPOSITION: A 10,500-square-foot industrial outdoor storage facility on 26.52 acres at 110 E. Barnett Dr. in Cleburne, TX, was sold. Located in Barnett Industrial Park, the crane-served property features a drive-through building and substantial outside storage area. Originally built for oilfield logistics, the site was acquired by a construction equipment user expanding in Johnson County. John Jinks and Robert Sawyer of Formation Real Estate represented the seller in the transaction.

DISPOSITION: A 1-acre industrial property with outdoor storage at 71 Executive Avenue in Edison, NJ, was sold. Kassin Sabbagh Realty announced the transaction for the industrial functionality and outdoor storage property located within Edison's industrial market. Isaac Setton and Bunny Escava of Kassin Sabbagh Realty brokered the transaction.

DISPOSITION: A 19,239-square-foot single-tenant industrial building at 5530 W. Sam Houston Parkway N in Houston, TX, was sold. The property includes a fenced and gated yard for secure outdoor storage along with 9,255 square feet of Class A office and showroom space. The warehouse features a 24-foot clear height, seven grade-level overhead doors, and 3-phase power. Positioned with frontage on Beltway 8 in Houston's Northwest industrial submarket, the site provides direct access to Highway 290 and Interstate 10. Chase Tucker of Finial Group represented the seller in the transaction.

DISPOSITION: An approximately 2-acre industrial land site in Compton, CA, was sold for just under $2.5 million. The 87,421-square-foot site, previously used for heavy industrial purposes, was purchased by a buyer who intends to pursue a Conditional Use Permit (CUP) to convert the property to industrial outdoor storage (IOS). The property features connectivity to the Ports of Los Angeles and Long Beach, LAX, and major Southern California freight corridors. Brad Levin of DAUM Commercial Real Estate Services represented the seller in the transaction.

ACQUISITION: Barrett O'Neill of OnDemand Storage acquired a small bay and industrial outdoor storage property located less than 20 miles from downtown Boston, MA. The buyer plans to invest approximately $250,000 into property improvements and bring rents to market rates.

FINANCING: Byline Bank originated a $20.25 million term loan to Stockbridge Capital Group to refinance a two-property industrial outdoor storage portfolio in Wilmington, CA. The fully leased 13-acre portfolio includes properties at 501 Quay Avenue and 1540-1550 Eubank Avenue in the South Bay submarket of Los Angeles, located near the Ports of Los Angeles and Long Beach with access to Interstates 110, 710, and 405. CBRE arranged the financing.

ACQUISITION: Steel Peak Properties, LLC acquired a ±2.09-acre industrial outdoor storage property at 2435 W. Broadway Rd in Phoenix, AZ, for $2.95 million. The property includes a ±6,586-square-foot facility featuring a 3,300-square-foot shop and a 3,286-square-foot canopy. Chris Reese of Colliers represented the buyer in the transaction.
CLOSED LEASES
Leased

LEASED: A ±18,885-square-foot freestanding industrial manufacturing building at 4821 S 33rd Street in Phoenix, AZ, was leased. The ±0.69-acre property features secured outdoor storage, 18'–22' clear height, and 1,600 amps of 120/240V power. It is located less than 2 miles from I-10 in the South Phoenix industrial market. Ben D'Aquila represented the tenant, while Jordan Linkow and Justin Fast of Lee & Associates represented the landlord in the transaction.

LEASED: An 11,786-square-foot industrial outdoor storage facility on approximately 3.67 acres at 5725 Dietrich Road in San Antonio, TX, was leased to a tenant. Located in northeast San Antonio with convenient access to Interstate 10 and Loop 410, the property features a functional building and secured outdoor storage space. Chase Tucker and Jack Gaffney of Finial Group represented the tenant in the transaction.

LEASED: A 4.5-acre storage yard at 10060 Dawson Road in Corona, CA, was leased to a new tenant. The industrial outdoor storage property is located with access near Interstate 15. David Noblitt, Josh Hayes, Jack Chambers, and Hilda Muñoz of Newmark represented the landlord in the transaction.

LEASED: A 6,974± SF industrial building on 5.35± acres at 16751 Old US 41 in Fort Myers, FL, was leased. The property features fenced industrial outdoor storage, a 3,000± SF mezzanine, and 7 grade-level overhead doors, with access to Alico Road, US 41, and I-75. Zachary Buckler and Jeff Buckler of Lee & Associates facilitated the transaction.

LEASED: A 3,500-square-foot industrial outdoor storage facility on 2.2 acres at 1922 Tampa E Blvd in Tampa, FL, was leased to a new tenant. The property is located in the East Tampa submarket. Greenspring Realty Partners owned the property. Devin Beeler and Robbie Lober of Lober Real Estate represented the landlord, while Ryan Griffith of Lee & Associates represented the tenant in the transaction.
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