In today’s email:
Transactions: Deals in NC, FL, CA, UT, TX, AZ, MI. Leases signed in ID.
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CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings
ACQUISITION: Jadian IOS acquired a 17.6-acre industrial service facility at 560 Pristine Water Dr in Apex, NC. The property includes a 26,600-square-foot shop featuring 44-foot clear height and two 22' x 24' drive-in doors. Located with access to US-1 and I-540, the site provides direct access to Raleigh, Cary, and Raleigh-Durham International Airport. The facility is also being offered for lease.
ACQUISITION: A 415,717-square-foot infill distribution facility with outdoor storage at 1820 Massaro Blvd in Tampa, FL, was sold. The single-building property is 100% occupied by five tenants. Rick Colon, Lisa Ross, Trey Carswell, Sam Korolos, Melissa Watterworth, Alexandra Sulte, Ryan Jenkins, Jordan Spitzberg, Jeremy Fisch, Francisco Palacios, and Gabrielle York of Cushman & Wakefield represented the parties in the transaction.
ACQUISITION: Investors advised by J.P. Morgan Asset Management acquired a 4.2-acre industrial outdoor storage facility in Los Angeles, CA. The property includes a 14,092-square-foot maintenance building serving as a bus maintenance and storage facility. Located in an infill industrial corridor, the site provides access to I-110, I-105, I-10, and I-405 and is located approximately 25 minutes from Los Angeles International Airport.
DISPOSITION: An industrial outdoor storage property at 5346 S Riley Lane in Salt Lake City, UT, was sold. The property consists of a ±4,324-square-foot building on ±1.46 acres, representing a 6.8% coverage FAR. The transaction process generated over 10 offers. Quinn Callahan, Tivon Moffitt, Peter Bauman, Brett Baker, and Roman Shenkiryk of Marcus & Millichap / Institutional Property Advisors represented the parties in the transaction.
ACQUISITION: Timber Hill Group acquired a 9.18-acre industrial outdoor storage facility at 5930 Winfield Road in Houston, TX. The property features approximately 37,761 SF of total improvements, including a 32,903 SF open-air manufacturing/service facility and a 4,858 SF standalone office building. It includes 5.5 acres of stabilized gravel and asphalt yard with a fully fenced perimeter and immediate access to I-69. Price details were not disclosed.
ACQUISITION: A 23.5-acre infill industrial outdoor storage portfolio in Phoenix, AZ, was acquired for $30,750,000. The portfolio consists of two adjacent single-tenant NNN assets featuring a 7.1% coverage FAR. The transaction generated 27 offers. Peter Bauman of Institutional Property Advisors was involved; Tivon Moffitt of Institutional Property Advisors was involved; Roman Shenkiryk of Institutional Property Advisors was involved; Brett Baker of Institutional Property Advisors was involved in the transaction.
ACQUISITION: Timber Hill Group acquired a four-property industrial outdoor storage portfolio in Laredo, TX. The portfolio includes a 10.2-acre site at 701 Enterprise St featuring 313 truck parking spaces, a 7.23-acre site at 4006 Quivira Dr, a 3.25-acre yard at 18729 Metropolitan Rd, and a 2.52-acre yard at 18701 Metropolitan Rd. The acquisitions were completed through Timber Hill's TH Cross Border Fund I LLC.
DISPOSITION: An industrial property at 6900 Pardee Road in Taylor, MI, was sold. RH Commercial Realty completed the sale of 6900 Pardee Road in Taylor, MI. Further transaction details were not disclosed. Reece Hughes, Nate Hughes, and Rob Hughes of RH Commercial Realty represented the seller in the transaction.
ACQUISITION: Industrial Outdoor Ventures acquired a 4.08-acre industrial outdoor storage property at 2010 Cucamonga Ave in Ontario, CA. The site includes a 9,052-square-foot equipment maintenance facility featuring 500 square feet of office space, 17-foot clear height, two drive-through bays, three additional 14-foot drive-in doors, a wash bay, a paved truck court, split-block screening, and a motorized entry gate. Daniel Glazer and Hank Wiehebrink of Lee & Associates represented the buyer in the transaction.
CLOSED LEASES
Leased
LEASED: AT Industrial Co executed a lease for the entire 5.76-acre industrial outdoor storage site at 10206 Federal Way in Boise, ID. The property is located directly adjacent to Micron's Boise-area campus and is well suited to support equipment storage, staging, and operational needs. Austin Hopkins and Matt Mahoney of Lee & Associates Idaho, LLC assisted with the leasing process.
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