$215M, three New Jersey deals and Terminal's new IOS VP
The new senior secured facility refinances 34 properties totaling 140 acres across Southeast, South Central, and Southwest markets. At 99.6% occupancy and with an accordion feature for added borrowing capacity, the structure gives the venture room to accelerate acquisitions without sacrificing…
IOS Market Pulse: July 28-August 10, 2026
💰 The Headliner: $215M backs 34 IOS assets
Zenith and J.P. Morgan add scalable portfolio financing
The new senior secured facility refinances 34 properties totaling 140 acres across Southeast, South Central, and Southwest markets. At 99.6% occupancy and with an accordion feature for added borrowing capacity, the structure gives the venture room to accelerate acquisitions without sacrificing portfolio stability.
Financing Details:
- Facility: $215 million senior secured credit facility
- Collateral: 34 IOS assets totaling 140 acres
- Occupancy: 99.6%
- Sponsors: Zenith Industrial Outdoor Storage and J.P. Morgan Asset Management
- Zenith Leads: Ben Atkins, Co-Founder and CEO; Vinh Thai, Head of Investments; Max Rodenborn, Vice President
- Lenders: KeyBank, led by Jessica Lauerhass, and Truist
- Arrangers: Justin Horowitz, Ben Knopf, and Josh Tropper of Cooper-Horowitz
RCG Realty LLC acquired 740 Lloyd Road from Keynet Aberdeen LLC as the replacement asset in a 1031 exchange. The paved and illuminated property combines six acres of outdoor storage and parking with six maintenance and warehouse buildings totaling 30,000 square feet.
- Buyer: RCG Realty LLC
- Seller: Keynet Aberdeen LLC
- Deal Team: Jordan Metz, Principal; Benito Abbate, Senior Associate; and James Friel, Sales Associate, Metz Industrial Group of Bussel Realty
- Next Step: Metz Industrial Group will lead leasing while ownership completes additional improvements
A well-known end user acquired Patriot Industrial Park in the East Rogers submarket. The low-coverage property pairs approximately 31,000 square feet of warehouse space with more than 17 acres of outdoor storage capacity in a market constrained by zoning and limited IOS availability.
- Buyer: Well-known end user, identity not yet disclosed
- Seller: Not yet disclosed
- Seller Representatives: Johnny Galloway and Colby Hoagland, Cushman & Wakefield | Sage Partners
KENILWORTH, NEW JERSEY: Lodestone Logistics signs 25,000 SF
Lodestone Logistics LLC leased 25,000 square feet at 110 North 12th Street in a seven-day turnaround. The 3PL tenant joins a 113,000-square-foot warehouse owned by North Holdings LLC.
- Property: 100-112 North 12th Street
- Building: 113,000 SF with 16-foot clear height, two loading docks, one drive-in door, wet sprinklers and heavy power
- Parking: 237 surface spaces
- Tenant: Lodestone Logistics LLC
- Landlord: North Holdings LLC
- Tenant Representatives: Jordan Metz, Principal; Benito Abbate, Senior Associate; and James Friel, Sales Associate, Metz Industrial Group of Bussel Realty
🏗️ Adjacent Industrial
PLAINFIELD, NEW JERSEY: Slick City takes 29,225 SF
Slick City Action Park leased 29,225 square feet at 900 North Avenue, the second major sports and entertainment commitment at ECA Developers' 114,355-square-foot adaptive-reuse project. The century-old factory was redeveloped into a modern multi-tenant flex property, where additional units from 9,500 to 48,000 square feet remain available.
- Tenant: Slick City Action Park
- Landlord: ECA Developers
- Owner Representatives: Jordan Metz, Principal; Benito Abbate, Senior Associate; and James Friel, Sales Associate, Metz Industrial Group of Bussel Realty
- Tenant Representative: Reece Rucker, Morrow Hill
- Prior Lease: PickleRage committed to 42,722 square feet in 2025
PONTIAC, MICHIGAN: 13-acre income-producing IOS opportunity
- 13-acre site with a 120,000-square-foot industrial facility
- Four-tenant income-producing asset with functional outdoor storage
- Access to major Metro Detroit transportation corridors
- Pricing and street address not yet disclosed
- Brokers: Brandon Abdelnour and Marcel Sarkisian, Encore Real Estate Investment Services
Center Capital Partners hires a vice president for Terminal Logistics
Will Thomas joined as vice president with a stated focus on Terminal Logistics, Center Capital Partners' industrial outdoor storage platform.
Thomas arrives with experience across acquisitions, investments, and asset management in industrial real estate. The appointment adds senior execution capacity as Terminal Logistics continues to grow its IOS platform.
Institutional financing is scaling stabilized IOS portfolios, while New Jersey deal flow shows demand across outdoor storage, third-party logistics and infill adaptive reuse. At the platform level, specialized hiring and new listings continue to emphasize execution capacity, usable yard area and constrained industrial locations.
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