Tuesday Trades: IOS Deals - December 24, 2024

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Realterm acquired two IOS sites in Fremont, CA located at 5120-5170 Brandin Court and 44533 South Grimmer Boulevard. 5120-5170 Brandin features a 11,750-square-foot maintenance shop with a 22-foot clear height, four drive-in doors, and a 4,061-square-foot office, as well as one ingress/egress point on 2.4 acres. 44533 South Grimmer features a 36,600-square-foot maintenance shop with a 22-foot clear height, four drive-in doors, and a 3,571-square-foot office, as well as one ingress/egress point on 3.7 acres. The acquisitions represent Realterm’s entry into the Silicon Valley industrial market. Congrats to the Realterm team for getting this one across the finish line!

ACQUISITION: IOV acquired IOS assets at 2130 & 2210 Hightower Drive in Garland, TX (northeast of Dallas). Combined, the properties total 5.74-acres with 26,000 SF of buildings. The sites include concrete yards with close proximity to I-635 and the DFW airport. This marks IOV's seventh acquisition in the Dallas/Ft. Worth area. Get them a Cowboys jersey!

ACQUISITION: Steek Peak closed on their 5th deal in San Diego this year with the acquisition of 975 Camino Maquiladora in San Diego for $2.62 million. Steel Peak is very active in San Diego and is looking to build their IOS portfolio across other western U.S. markets. Congrats to Blake Rodgers, Pasha Johnson, Spencer Mikles, Alex Kogevinas on getting this one done!

ACQUISITION: Faropoint acquired Atlanta-area 9.93 AC IOS Site for $8.46M. 1400 Beaver Ruin Rd in Norcross, GA has a 73,000-square-foot center and is fully occupied by SRS Distribution. The industrial asset features clear heights ranging 22 feet, 4 external docks, and two drive-in doors. Situated northeast of Atlanta, 1400 Beaver Ruin Rd has immediate access to I-85 with connection to I-283, downtown Atlanta, and Hartsfield-Jackson Atlanta Airport. Kurt Hediger at Graystone represented the Faropoint. Congrats to Dave Zealear and the Faropoint team!

LEASES SIGNED
Recently Leased Properties

LEASED: Fischer Weiler Industrial represented landlord, Triten Real Estate Partners, in its lease for 4950 Stilwell St. Kansas City, MO. Congrats to FWI and Triten on this one!

ON THE MARKET
For Sale

FOR SALE: Multi-tenant industrial property that lends itself to both investors or owner-users. With a 40,000 SF vacancy, an owner-user can purchase the property to occupy while cash-flowing the remainder. With significantly below market rents and month-to-month tenancy, an investor can immediately increase rental rates and utilize additional outdoor storage space. Reach out to Peter Doughty at Marcus & Millichap if interested.

ON THE MARKET
For Lease

FOR LEASE: Site offers 51,196 SF of space on a 6.2-acre lot in Kalamazoo, MI. Perfect for traditional heavy or light industrial users, indoor/outdoor storage operators. Conveniently located near downtown Kalamazoo and just off I-94. Reach out to C3 CRE and Corbin Yaldoo for more info.

RECS
Worth a Look

• Read: Fedex spins off freight division - Fedex announced the much-anticipated spinoff of its freight trucking division, as it restructures operations to focus on its core delivery business