Thursday Trades: Industrial Outdoor Storage Deals - April 17, 2025

PARTNER SPOTLIGHT
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CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: CanTex Capital acquired another IOS property off-market in Fort Worth. 3305-3315 Crabtree Street is a 9,042 SF industrial storage warehouse on 2.01 AC in the North Fort Worth submarket of DFW featuring a fully secure, paved outside storage yard. The site is strategically located with frontage on I-35W and is 1 mile from Sylvania Industrial Park (a 65-acre manufacturing complex acquired by CanTex in 2021). The property is home to CMC, a global leader in manufacturing, recycling, and fabricating steel and metal products. Chris Wong, CPA at Bradford Commercial Real Estate Services helped with this transaction.

ACQUISITION: Alterra IOS acquired 9901 Okeechobee Road, Fort Pierce, FL. The site features 3.24 usable acres with 11,728 SF warehouse and office space. It is located near I-95 and Florida Turnpike and leased to a publicly-traded tenant. Chris White led this transaction for the Alterra team and Joshua Symonette of TD Commercial Group assisted on making this transaction happen.

ACQUISITION: Realterm announced the acquisition of a prime three-property industrial outdoor storage portfolio located in the infill Seattle submarket of Kent, WA. The three adjacent properties, 7915 South 261st Street and 26220 & 26330 79th Avenue South include 38,900 square feet of buildings on 9.3 contiguous acres with secured parking, storage and maintenance facilities. The properties are fully leased to two long-term tenants that have operated out of the properties for over a decade: Powerscreen of WA (7915 South 216th Street), a distributor and servicer of high-quality materials processing and handling equipment and Clean Harbors (26220 & 26330 79th Avenue South), a leading provider of environmental and industrial services.

ACQUISITION: Bespoke Holdings Company announced the acquisition of 4620 S. Apple St. in Boise, Idaho. The site spans 10.93 acres of Industrial Outdoor Storage (IOS), featuring the flexibility to be demised into units as small as 3 acres and the potential for rail service. This is the fifth acquisition under Bespoke Industrial Income Plus Fund II, LP. Strategically located in the Southeast Boise Industrial Market, just east of Interstate-84 and immediate access to southern Idaho's primary transportation corridor, the site is just a 10-minute drive to downtown Boise and the Micron Corporate Campus. Blair and Rob at Bespoke Holdings Company spearheaded the acquisition and Michael McNeight at Colliers facilitated the transaction.

LEASES SIGNED
Recently Leased Properties

LEASED: 15033 Slover Avenue, Fontana, CA, a class A IOS facility that features 9,300 SF on 4.12 AC, was just leased. The site had an existing CUP in place and this site was leased in under 90 days. Jon Larson at Voit represented the Tenant and Ian Armbruster at Stream represented the Landlord in this transaction.

LEASED: Panther Capital Group and FIRST HOUSTON Properties Inc announced a lease signed at 13701 Cabezut Drive, Laredo, TX. According to Guillermo de Nicolas, CEO at Panther Capital Group, getting this site leased to the right tenant took longer than initially expected (10 months) but the patience was worth it as the site is now leased on a long term contract with an established and competent tenant. Juan Fraga from FIRST HOUSTON Properties spearheaded the leasing efforts.

RECS
Worth a Look

• Industrial Outdoor Storage in Germany - CBRE released a write up of how IOS could be a useful addition of diversified portfolios (be sure to click the PDF download for the full report)

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