Thursday Trades: IOS Deals - January 23, 2025

CLOSED TRANSACTIONS
Acquisitions / Dispositions / Development

ACQUISITION: Transport Properties has acquired an 18,126 SF office and repair facility located at 6111 W. Hanna Avenue in Indianapolis, IN, situated on 21.9 AC in an off-market deal sourced by Casey Cunningham. Major improvements planned include paving, fencing, building upgrades, and enhanced lighting to transform the site into a best-in-class facility. For leasing inquiries, contact Mark Writt from CBRE.

ACQUISITION: Oliver Street Capital and Bain Capital Real Estate have purchased Trans American Trucking Services' 8.84-acre IOS site in South Plainfield, NJ for $33.25 million. The off-market acquisition (nice!) along the I-287 Corridor adds to Oliver Street Capital's portfolio of over 50 buildings and 5 million square feet across the Northeast since 2014. The deal, negotiated by NAI James E. Hanson, represents Oliver Street Capital's largest IOS acquisition in New Jersey and reflects growing institutional investor interest in IOS properties.

ACQUISITION: Axis acquired a portfolio of IOS properties in Laredo, TX, a key cross-border logistics hub experiencing strong market demand. The Axis team was led by Bo Ricks, Jamie Coffin, and Crawford Arnold and facilitated by FHP, Juan Fraga, James Mashni, and Patrick McKiernan. For warehouse and IOS opportunities in the area, contact the FHP team.

ACQUISITION: Alterra IOS has acquired 215 Bedford Street in Whitman, MA, which features a paved 4.5-acre yard and a 23,255 SF service building located along the Route 24 Corridor. The property is fully leased to a national equipment rental company. Sean Christman led the transaction with assistance from Matty Drouillard and James Stubblebine of The Stubblebine Company.

DEVELOPMENT APPROVAL: Murphy Schiller & Wilkes LLP has secured site plan approval for an Industrial Outdoor Storage use in Saddle Brook, New Jersey, working with the Township to revitalize an underutilized property. The project team was led by MSW partner Matthew Gilson and included experts from Dynamic Engineering Consultants and Dynamic Traffic. MSW attorney Thomas Garlick and paralegals Stephanie McLeish and Jahynis Cabral provided support throughout the application process. Not an easy feat - nicely done!

ON THE MARKET
For Lease

A fully graveled, lit, and securely fenced 2-acre industrial outdoor storage yard is available for lease at 3108 Blevins Road in Whites Creek, TN for $10,000 per month gross. The property offers immediate access to I-24 (Exit 40) and features Specific Plan zoning that permits both Commercial Service and Industrial Warehousing/Distribution uses. Reach out to Mathew Graves to schedule a tour of this facility.

This 2-AC IOS site offers convenient access to major highways, sitting just 3.2 miles from the FL Turnpike and 7.5 miles from I-75, connecting easily to Orlando, Tampa, and Ocala. The site is strategically located near The Villages Master Development, a growing community of 145,000 residents, and borders the Coleman Flex Business Park. Reach out to Bryan Richardson for more info.

RECS
Worth a Look

• Read: IOS Market Summary Update by Andrew Wiesemann