In today’s email:

  • Transactions: Deals in CA, AZ, ID, FL, IL, PA, MD, GA. Leases signed in FL, NC.

  • On The Market: 4 IOS Listings

Have active IOS listings? Send to [email protected]

CLOSED TRANSACTIONS
Acquisitions / Dispositions / Financings

ACQUISITION: Dunbar Real Estate Investment Management, in partnership with Long Wharf Capital, acquired a 27,801-square-foot low-coverage industrial property at 1260 S. Dupont Avenue in Ontario, CA. The 4.64-acre property features a single-tenant industrial building with an expansive paved, lit, and secured yard. Located within the California Commerce Center in the Inland Empire West submarket, the site sits near the Interstate 10 and Interstate 15 interchange. Dunbar plans to modernize the property with upgraded warehouse lighting, a new sprinkler system, refurbished offices, and additional loading capabilities. Ken Jones and Ben Palitz of Lee & Associates - Ontario facilitated the transaction.

ACQUISITION: E8 Partners acquired two industrial assets, including 5576 Export Blvd in Savannah, GA, and 8 Herman Drive in Simsbury, CT. The Savannah property comprises a 10,000-square-foot light industrial building with secured outdoor storage situated less than two miles from the Port of Savannah and Savannah Airport. The Simsbury asset contains 26,000 square feet of light industrial space across four fully leased suites.

ACQUISITION: TRX IOS acquired an industrial outdoor storage property at 3208 E. Amity Road in Boise, ID. The site features 4.46 acres of paved yard and a roughly 40,000-square-foot drive-through bay building. Michael McNeight of Colliers represented the buyer, and Gavin Phillips of TOK represented the seller in the transaction.

FINANCING: LNL Capital provided a $23 million permanent loan secured by a 75-acre industrial outdoor storage property in Fort Pierce, FL. The financing was structured as a 5-year first-lien loan for a sale-leaseback transaction. The property is subject to a long-term triple-net lease to Precast Specialties, a Quantum Construction subsidiary.

ACQUISITION: JB Capital acquired a 7,088-square-foot cross-dock IOS facility on 2.29 acres at 9315 Haydon Rd in Jacksonville, FL. The property is located near JAXPORT, Interstate 95, and Interstate 295. The new owner plans to complete capital improvements, including a refreshed yard, new warehouse metal skin, and updated office space. Tanner Lee of Colliers represented the buyer in the transaction.

FINANCING: JDI Realty closed a bridge loan secured by a 4.21-acre industrial outdoor storage site in Indianapolis, IN. The property currently includes 1.5 acres of usable storage area, with plans to expand usable coverage to 4.0 acres through grading, fencing, and security improvements. The site is located directly off US-40, adjacent to Indianapolis International Airport and FedEx's hub.

DISPOSITION: A ±20,670-square-foot industrial truck terminal on 5.41 acres at 16585 Beaver Rd in Adelanto, CA, was sold. The facility features an 18,271-square-foot cross-docking building with potential for over 18 dock-high doors, a 2,400-square-foot warehouse with three ground-level doors, and a fully fenced and gated yard surfaced in paved and compacted gravel near the Southern California Logistics Airport. Steven Thompson of Coldwell Banker Commercial Real Estate Solutions facilitated the transaction.

ACQUISITION: The Missner Group acquired a 2.87-acre industrial outdoor storage site at 3106 S. Homan Avenue in Chicago, IL. The property is fully leased to Schneider National and includes a 16,000-square-foot truck maintenance building with six drive-in service bays and a paved yard for trailer and truck parking. It is located approximately 1.5 miles from I-55.

ACQUISITION: Industrial Outdoor Ventures acquired an equipment maintenance facility at 102 Commerce Way in Stockertown, PA. The property includes a 20,667-square-foot building situated on 2.63 acres, featuring approximately 3,000 square feet of office space, a fully fenced and secured yard, two 14-foot drive-in doors, and 20-foot clear ceiling height. Following the transaction, interior and exterior improvements were completed including office and showroom finishes, LED lighting, warehouse refreshes, exterior painting, and parking lot repairs. Erin Downey and Matt D'Alesio of Lee & Associates represented the buyer in the transaction.

FINANCING: Valencia Realty Capital arranged a $9 million non-recourse cash-out bridge loan secured by a 50,000-square-foot industrial facility with 5 acres of outdoor storage in the Greater Boston area. The refinancing facility replaced existing debt and returned approximately $2.5 million of cash-out equity to the sponsor following a conversion of unused land into an active outdoor storage yard. Stephen Smeke of Valencia Realty Capital arranged the financing.

ACQUISITION: Alterra IOS acquired a four-property National Logistics Portfolio spanning the Atlanta, San Antonio, and Indianapolis markets. The fully leased portfolio comprises 16.2 usable acres and 50,394 square feet of building improvements across four properties located in Villa Rica, GA; Converse, TX; Indianapolis, IN; and Plainfield, IN. The transaction marks Alterra's 39th acquisition in the Atlanta MSA, 21st in the San Antonio MSA, and 4th and 5th in the Indianapolis MSA. Parker Pearson and E. Liam Loftus led the transaction for Alterra IOS. Davis Goodman of CBRE facilitated the transaction.

DISPOSITION: A two-property industrial portfolio totaling 501,460 SF on 28.13 acres at 1771 Tomlinson Rd and 11500 Roosevelt Blvd in Philadelphia, PA, was sold. The portfolio includes approximately 4 acres of outdoor truck storage, 40 loading docks, and 20 drive-in doors. The properties feature I-2 Medium Industrial zoning and clear heights ranging from 15' to 18'6". Chris Pennington, Timothy Pennington, Matthew Corrigan, and Michael Pennington of Binswanger facilitated the transaction.

FINANCING: KeyBank provided a $100 million senior secured credit facility to Rampart Real Estate Partners for Rampart IOS Fund II. KeyBank Real Estate Capital served as lead arranger and administrative agent for the $100,000,000 credit facility.

DISPOSITION: Finmarc Management sold a two-building flex/warehouse portfolio including 20,000 square feet of industrial outdoor storage land at 7419 Lindberg Drive in Gaithersburg, MD, for $10.2 million. National Technology Integrators acquired the nearly 46,000-square-foot property as an owner-user. KLNB represented the seller and JLL represented the buyer in the transaction.

ACQUISITION: An industrial outdoor storage property in Stockbridge, GA, was acquired by an all-cash buyer. The property generated multiple offers prior to closing. Noam Raz, Harrison Auerbach, Thomas Wilkinson, and Maxx Bauman of Matthews Real Estate Investment Services facilitated the transaction.

CLOSED LEASES
Leased

LEASED: A 1-acre commercial outdoor storage property at 3311 Reid Street in Palatka, FL, was leased. The property features functional yard space and outdoor storage. Stanley H. Bishop, Jr. of North Florida Realty Advisors facilitated the transaction.

LEASED: A 36,500-square-foot industrial facility with 6.5 acres of industrial outdoor storage in Troutman, NC, was leased. The property is situated along the I-77 corridor, serving the North Charlotte, Statesville, and Lake Norman areas. Street Jones and Bo Hargrove of Rich Commercial Realty represented the tenant, while Christian Samartino of Piedmont Properties/CORFAC International represented the landlord in the transaction.

MARKET NEWS
On The Market

FOR SALE: A 3.2-acre infill industrial outdoor storage site at 6301 Broadway Street in Denver, CO, is currently available for sale. The heavy-industrial site features two buildings totaling 35,308 square feet with I-3 zoning in Unincorporated Adams County. The property is fully leased under a long-term NNN lease structure through October 31, 2033. Contact Kirk Vanino ([email protected]), Jack D’Avanzo ([email protected]) and Matt Nora ([email protected]) for more information.

FOR LEASE: An 18,652-square-foot industrial outdoor storage facility on ±7 acres (±5.45 usable) at 1315 Riverside Drive in Fort Worth, TX, is available for lease. The property includes 18,652 SF of office and shop space, featuring 7,883 SF of office and training rooms, a 5,908 SF shop area, and 4,861 SF of wash bay and covered fuel island. The yard is fully paved, lit, and secured with an electrified fence, featuring eight grade-level doors and Heavy Industrial zoning located 3 miles from Downtown Fort Worth. Contact Jason Finch ([email protected]) and James Preston ([email protected]) for more information.

FOR LEASE: A ±20,000-square-foot crane-ready warehouse on ±2.2 acres at 3401 Awesome Lane in Deer Park, TX, is available for lease. The property features 1 additional acre of paved and heavy-stabilized yard, a ±4,000-square-foot office/showroom, three grade-level doors, fenced and screened perimeter, outdoor yard lighting, and 28-foot clear height. It is available for occupancy on January 1st. Contact Davis Lamberton ([email protected]) and Mason Lamberton ([email protected]) for more information.

FOR SALE: A 2.5-acre property with an 8,900-square-foot building in the South Bay submarket of Los Angeles, CA, is available for sale. The recently rehabbed facility features a paved and secured yard, dock loading and 4.6 years of remaining lease term (WALT), offered at a 5.25% cap rate with access near three freeways. Contact Sean O'Donnell ([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.