Thursday Trades: IOS Deals - May 22, 2025

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITIONS: CanTex IOS announced the acquisition of 2121 Joel East, a 4.26-acre Class A IOS development site in the South Fort Worth submarket of DFW. Ideally situated with proximity to I-35W and I-20, this IOS property offers access to the major thoroughfares of the metroplex. The site is fully paved with 7” concrete, fully secured, and fully lit. CanTex plans to develop a 10,500 SF Class A tilt wall industrial building. Jeff Rein and Forrest Cook at Stream Realty Partners helped bring this transaction across the finish line.

ACQUISITION: Harrison Auerbach and Thomas Wilkinson at Matthews announced the closing of Flowers Foods Inc building and IOS site in Hope Mills, NC. The property featured 3 acres and the listing generated multiple competitive offers and had a quick all-cash closing. Jaxon Etter at Mixson Properties also worked on getting this transaction closed. Reach out to the fellas for more information.

ACQUISITION: Ridgecut Road has acquired a 5.8-acre industrial service and outdoor storage property in Lincoln Park, expanding its portfolio to a high-demand submarket in Morris County. 131 Beaverbrook Road, includes a 33,000-square-foot maintenance facility and warehouse and a 10,000-square-foot ancillary office building. Nick Stefans and Jason Lundy of JLL arranged the off-market deal, terms of which were not disclosed, while the firm’s Max Custer and Michael Klein sourced acquisition financing with Byline Bank.

DEVELOPMENT
Recently Completed Project

COMPLETED: Zenith IOS and J.P. Morgan Asset Management completed an industrial outdoor storage development in Clearwater, Florida. The site is fully leased to Insurance Auto Auctions and the completed work repurposes former landfill site. The venture acquired Sunshine Industrial Park in September 2022 and commenced work in May 2024 on an 18-acre build to suit project for Insurance Auto Auctions (IAA). The site will serve as IAA’s primary hub for the greater Tampa Bay region. The development is a flagship investment for the Zenith-J.P. Morgan Asset Management venture, which remains bullish on Central Florida’s IOS market and is committed to scaling its portfolio across the country.

LEASES SIGNED
Recently Leased Properties

LEASED: The Lee & Associates team of Ryan Griffith, Derek Riggleman, and CJ Griffith announced the successful lease-up of not one, but two IOS sites in Central Florida totaling over 15 acres — both completed in just two weeks on behalf of Alterra Property Group. 

4777 & 4785 Old Winter Garden Rd in Orlando, FL is a 10.35-acre infill IOS site featuring ±10 acres, two freestanding buildings (17,220 SF), multiple grade-level doors, covered work areas, and four ingress/egress points.

3255 S Clarcona Rd in Apopka, FL is a 4.75-acre IOS site with 19,319 SF of office/warehouse space, majority paved and fenced, two entry points, and prime road frontage — under a mile from SR 414 for quick access to SR 429 and I-4.

LEASED: 2961 Norland Avenue, Burnaby in Vancouver was just leased. In a market as historically competitive as Metro Vancouver, where landowners prioritize maximizing allowable density, low site coverage industrial outdoor storage (IOS) opportunities are increasingly rare. Bianca Gilbert from CBRE Canada secured a 0.97 acre site on behalf of a multi-national equipment rental company, further supporting their continued growth in the region. Ewen Johnston and Jack Bougie at Colliers represented the landlord in this deal.

RECS
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