Thursday Trades: IOS Deals - May 1, 2025

CLOSED TRANSACTIONS
Acquisitions & Financing

ACQUISITION: DH Property Holdings LLC has added 509 Heron Drive to its South Jersey portfolio with the acquisition of a 55,000-square-foot industrial building in Swedesboro. The property is part of the Pureland Industrial Park and includes three acres of excess parking. It’s close to Interstate 295 and the Commodore Barry Bridge, providing easy access to Philadelphia International Airport and Packer Avenue Marine Terminal. Jonathan Klear of NAI Mertz and Ian Richman and Marc Isdaner of Colliers arranged the off-market sale, the terms of which were not disclosed.

ACQUISITIONS: STL Commercial announced the sale of a 1-acre industrial outdoor storage site located on Dyer Blvd in Riviera Beach. The property was purchased by an owner-user seeking a new location for their business. Max Loria and David Richman represented both the buyer and the seller in this transaction – reach out to the duo for more information.

RECAPITALIZATION: B&D Holdings announced the recapitalization of a low-coverage seven-property IOS / shallow bay portfolio located in Virginia and Florida. The portfolio included 580,000 SF and the recapitalization demonstrates B&D's continued commitment to investing in highly functional infill properties across the nation. With this recap, B&D Holdings went full-cycle with their equity partner, Equity Resource Investments.

FINANCING: JLL Capital Markets arranged $80.27 million in acquisition financing for 169 Pulaski Street, a 17.9-acre industrial property in Bayonne. JLL worked on behalf of the borrower, Turnbridge Equities, to secure the loan. The property includes three industrial buildings with 2.16 acres of industrial outdoor storage space. The site is currently 90% leased to Waitex Global International, a global logistics company that has occupied the site for over 21 years. Waitex will execute short-term leasebacks on portions of the property while the new ownership implements a value-add business plan.

LEASES SIGNED
Recently Leased Properties

LEASED: Marcus Partners has reached a deal with a large utility provider at 425 John Quincy Adams in Myles Standish Park in Taunton, MA. This deal includes a mixture of industrial outdoor storage (IOS) and ground-up, build-to-suit deal. This will be the firm’s second office-teardown-to-industrial project in the park and is expected to be delivered in late 2025. The property was formerly home to a 95,000-square-foot office building. The lease with the user includes 4.4 acres improved by a ground-up 40,000-square-foot ancillary flex building and three acres of IOS.

RECS
Check It Out

• QXO Completes Acquisition of Beacon Roofing Supply — Beacon is now a wholly owned subsidiary of QXO, and its shares ceased trading before the opening of the market on April 29, 2025. QXO has also closed its previously announced $830 million equity private placement.

   

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