Thursday Trades: Industrial Outdoor Storage Deals - February 20, 2025

CLOSED TRANSACTIONS
Acquisitions & Dispositions

ACQUISITION: Catalyst Investment Partners has closed on 327 Thorpe Road in Orlando, FL. The property includes a 10,750 SF service facility with five drive-in doors on 2.2 paved acres. Brandon Johnson led the Catalyst deal team.

ACQUISITION: Knight-Swift Transportation, A. Duie Pyle and TForce Properties have entered purchase agreements totaling $15.1 million to acquire seven of defunct Yellow Corp.’s terminals. Phoenix-based Knight-Swift (NYSE: KNX) is acquiring three terminals in Southern California – Downey (71 doors), San Diego (49 doors) and Santa Maria (16 doors) – and one property in Roanoke, Virginia, (34 doors) for $9.9 million. The four properties are currently under leases. Knight-Swift has acquired 29 terminals for $63.9 million from Yellow since the auctions began at the end of 2023, according to court filings.

ACQUISITION: IOS Southwest LLC has successfully completed its first full-cycle deal in Phoenix for $5M. The transaction included 11,204 SF on 3.15AC in Phoenix. A big congrats to the team, including Gary Cornish, David Kinney, and Duff J. Hearon.

ACQUISITION: Lingerfelt has acquired a 10-acre industrial parcel adjacent to its Ashton Creek Distribution Center in Colonial Heights, VA, to expand its IOS capabilities. A&A Transfer, An MEI Company, will use the site to support its growing data center market presence and increase outdoor storage capacity at its existing 173,800 SF facility. Ryan Hays of Armour Realty represented A&A Transfer in the transaction.

ACQUISITION: Flywheel Capital sold its IOS property at 17805 S. Golden Rd. in Golden, CO, for $7.3 million, reflecting its strategy of enhancing underutilized real estate. The 5.3-acre site, featuring 24,904 SF across three buildings, was repositioned through key improvements and leased to Alpine Civil Construction, which later exercised its purchase option. Patrick McGettigan of JLL represented Flywheel Capital, while Robby McClure of McClure and Associates Real Estate represented the buyer.

LEASED
Recently Leased Properties

LEASED: Dayton Street Partners (DSP) has signed a long-term lease with Memphis City Cartage at their truck maintenance facility in South Holland, IL. The 4-bay facility features a 20-foot clear height, 7 drive-in doors, and a prime location near major highways for seamless logistics access. Memphis City Cartage, an intermodal drayage trucking company based in Memphis, TN, will use the site to support its growing operations. Congrats to Alex Sutterer, John Whitehead, Jack Brennan (NAI Hiffman), Ali Nix, and Marc Hale (DarwinPW Realty) for their roles in making this deal happen.

REFINANCING
Recent Refinancing

REFI:  Kevin Tehan successfully closed a $5.9 million refinance loan on an IOS property. The deal, known as "IOS Two Pack," was financed through a Correspondent Life Company lender. This transaction highlights the continued strength of IOS financing opportunities. Reach out to Kevin for your next project.

ON THE MARKET
For Lease

FOR LEASE: 11,900 SF on 2.4AC located in Renaissance Industrial Park off Interstate 69C Edinburg TX just south of Freddy Gonzalez Drive. The property is ideally positioned for businesses looking to streamline their operations and maximize logistics efficiency. Reach out to Edson Carvajal for more info.

RECS
Worth a Look

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