Weekly IOS Market Moves - Nov 7

Let's get after it

November 07, 2024

The wait is over - here’s the IOS deal news you need

YardDogs -

Welcome back! Here’s the business and IOS news you need to get you through this week. Today’s edition is all about the deals.

In today’s email:

  • Transactions: This week we’re featuring a Big Dog national portfolio as well as an acquisition in Phoenix, a few in Texas (including an upcoming new development), and a lease in Oklahoma.

  • On The Market: Don’t miss a prime opportunity to buy in Dallas, TX or Orlando, FL, and lease in Miami, FL or Houston, TX.

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Peakstone Realty Trust (NYSE: PKST), a real estate investment trust focused on owning and operating industrial assets, announced today that the Company has acquired a portfolio of 51 industrial outdoor storage (“IOS”) properties from a joint venture between Alterra IOS, and institutional investors advised by J.P. Morgan Asset Management in an off-market transaction valued at $490 million.

The 51-property infill portfolio comprises 45 operating assets and six redevelopment sites. These assets span a total of 440 usable acres across 14 states and are strategically located near major supply chains and population centers.

"We are pleased to announce our entry into the industrial outdoor storage sector,” said Michael Escalante, CEO of Peakstone. Access the full deck here.

Another YardDog on the hunt - and the latest institutional capital has entered into the arena.

ACQUISITION: IOS Southwest acquires ±11,298 SF on ±2.67 AC at 19th Ave & Mountain View Rd in North Phoenix for $2.6M. Congrats to the IOS Southwest team and Max Schumacher, SIOR, Patrick Sheehan, Jack Hansen.

ACQUISITION: Timber Hill Group acquires 4 sites in Laredo, TX. Timber Hill has 2 other sites in Laredo under contract. We’ll keep our eyes on those.

Source: Loopnet

LEASES SIGNED
Recently Leased Properties

ON THE MARKET
For Sale

FOR SALE: 4.08 acre IOS site at 1600 Airport Fwy, Irving, TX. This is a unique opportunity to own in a prime location in DFW with highway frontage. The site is fully paved, features 2 buildings, and is 100% leased to Avis Car Sales which provides stable in-place cash flow through mid-2028 with significant mark-to-market opportunity upon lease expiration. Reach out to David Guinn at Davidson Bogel for more information!

FOR SALE: 8 acre IOS site at 6620 N. Orange Blossom Trail, Orlando, FL. This property offers easy access to major highways and direct frontage on a high-visibility road. Approximately $195,000 in annual gross income, with potential for over $60,000/month NNN. Reach out to Derek Riggleman and the Lee & Associates Central Florida team if interested!

ON THE MARKET
For Lease

FOR LEASE: 3.4AC IOS site in Houston area available for lease. Please reach out to Juan Fraga and James Mashni at FIRST HOUSTON Properties, INC. for more info.

FOR LEASE: 6.37 Acre IOS Site in Miami available for lease. Approximately 5,000 SF Office/Warehouse for operational needs and IU-3 Zoning for versatile industrial use. Reach out to Chris Spear, SIOR, CCIM for more information!

Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.