Tuesday Trades: IOS Deals - February 18, 2025

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Matthews recently announced the closing of $45M of Net Leased Industrial Properties (outlined below). Congrats to Alex Harrold, Brett Davis and Isaac Wulff! What a lineup!

ABC Supply – Garland, TX
ABC Supply – San Antonio, TX
Builders FirstSource – Oakwood, GA
Exide – Muncie, IN
Frito Lay – Corsicana, TX
Hajoca – South Holland, IL
Hajoca – Tupelo, MS
STG Logistics – Mobile, AL
Sunbelt Rentals – Gainesville, FL

ACQUISITION: A ±31,141 square foot manufacturing facility located at 234 E. Mohave St. was recently sold to Michael Roberts and Thomas W. Roberts of WREN Capital, LLC. The building, which sits on approximately 3.88 acres, is now available for lease. Interested parties can contact Max Schumacher, Patrick Sheehan, or Jack Hansen for information about the sale or leasing opportunities.

ACQUISITION: Greenspring Realty Partners acquired a 30,000 square foot industrial property on 4.6 acres at 4320 15th Street in Bradenton, Florida, marking their seventh acquisition in the state. The property features heavy industrial zoning and a prime location, fitting GRP's focus on IOS with buildings on 1.5 - 8 acres. For leasing and acquisition opportunities, please contact Nicki Berg, Daniel Flamholz, or Goral Khatta.

ACQUISITION: Triten expanded its industrial portfolio by acquiring two off-market properties in Atlanta's Airport and Forest Park submarkets: a 22,510 square foot terminal on 4.2 acres at 1023 Rock Cut Road, and a 15,000 square foot warehouse on 5.0 acres at 598 Red Oak Drive. Both properties feature strategic locations near major transportation routes and outdoor storage capabilities, aligning with Triten's focus on industrial and IOS assets in the region. Interested parties can contact Willie Ross for information about space availability or acquisitions.

DISPOSITION: Avison Young has completed the sale of a 5.36 acre IOS site located off Westinghouse Blvd in Charlotte's Stateline Submarket. The competitive bidding process resulted in a successful outcome for their client. The property will soon be available for lease, please contact Chris Loyd or Gray Gaines for more information.

LEASES SIGNED
Recently Leased Properties

LEASED: Avison Young leased 211 Webster Road in Greensboro, NC, a 15,300 SF industrial building on 5.72AC for a 10-year deal. Congrats to Evan Sassaman, John Gainey, and Jack Albright who represented the Tenant and Michael Overton, Jake Viverette and Andrew Roupas.

LEASED: Clear Height Properties has leased their 20,384 square foot industrial facility on 5AC at 2614 Brandon Road in Joliet, Illinois to a regional logistics company. The property, strategically located near the I-55/I-80 interchange and Joliet Intermodal Terminal, is owned through a partnership between Clear Height Properties and Walker & Dunlop Investment Partners. The deal was brokered by Lee & Associates' team of Dylan Maher, Brian Vanosky, and Michael O'Leary representing Clear Height, while Steve Morken of Morken & Associates represented the tenant.

DEBT
Refinancing

REFINANCING: Blackstone Inc.’s mortgage real estate investment trust is lending $189 million for IOS owned by a division of Alterra Property Group. The loan from Blackstone Mortgage Trust Inc. is financing the recent purchase of 49 properties concentrated in US markets such as Atlanta, Chicago and Tampa, Florida, Alterra said.

ON THE MARKET
For Lease

FOR LEASE: 8,139 SF on 4.3AC of land with easy access to I-75 available for lease in Fort Myers, FL. Reach out to Adam Bornhorst for more information.

ON THE MARKET
For Sale

FOR SALE: A 3,200 SF building on 4.99 acres is available for sale in San Antonio, TX! Strategically positioned along US Highway 181 with easy access to Loop 410 and I-37, this site offers prime connectivity across the city and South of San Antonio. Perfect for industrial, light manufacturing, outdoor storage, or small-scale development. For more details, reach out to Sergio Acosta or Carlos Marquez, SIOR.  

RECS
Worth a Look

• Podcast: Check out a podcast with Blake Potolicchio, Co-Chief Investment Officer at Open Industrial, on profitable industrial outdoor storage investing – check out 01:20 in the podcast for commentary on IOS market fragmentation