![]() ![]() ISP property values are dependent on location, but cap rates on these assets tend to be on average 1.5 percent higher than those for class-A warehouse properties, according to Brody. ![]() Those near intermodal facilities and ports will have transload options, Brody says, noting that terminals in infill locations in places like Northern New Jersey, New York City outer boroughs, Chicago, Seattle, the San Francisco Bay area, Los Angeles and the Inland Empire are achieving the highest rents. ISPs are located in logistics hubs all over the country. Brody notes that pricing is on a per-door, per-month triple-net basis. However, many are also third-party facilities, where users are charged through a 3PL arrangement that is a blend of fixed and variable costs. The fee revenue models for these facilities are similar to any real estate tenancy-users typically own or lease them, according to Morris. “Containers coming in from China are dray-moved to these buildings, de-containerized into different trucks or rail cars and moved out to mostly points further east from there,” Morris says. because it costs less to de-containerize it there than closer to the ports. For example, there is a significant density of transload buildings in Southern California’s Inland Empire, where cargo is often moved from the ports of Los Angeles or Long Beach, Calif. Markets that see the heaviest cargo movements have the highest demand for these functionalities, Morris notes. He explains, for example, that cargo from three 40-foot containers can fit into two 53-foot truck trailers, and it is more cost-effective for those trucks to deliver the cargo than directly transporting it over 50 miles to the final destination because the empty containers then must be returned to the origination point. “The purpose for these buildings is either redirecting cargo mode-usually from container to truckload-or consolidating and redirecting freight direction and what freight rides together,” according to John Morris, executive managing director and Americas industrial and logistics leader with real estate services firm CBRE.ĭe-containerizing cargo and transloading it onto trucks or rail cars facilitates logistics efficiencies, according to Brody. The e-commerce boom has accelerated demand for those facilities by multiples, Brody says. Amid higher transportation costs and driver shortages, the need for them has been growing over the pst 15 years. Integrated Service Provider (ISP) facilities are essential to supply chain efficiencies, Brody notes. “This was a great opportunity to capitalize on increasing demand in the market and is part of a larger corporate strategy to invest in well-located, logistics-related real estate assets in Florida and throughout the U.S.,” said DSP Principal Michael Schack in a statement. The property is 100 percent leased to ABF Freight. truck terminal near Tampa International Airport in Florida from a private investor for an undisclosed price. Related: WMRE's Common Area: The Changing World of Distributionįor example, in April, Chicago-based Dayton Street Partners acquired a 17,897-sq.-ft. Speculative development may not be far behind. These include Centerpoint, Realterm Logistics, Terreno Realty, Brookfield, Duke Realty, Prologis, Stonemont, Altera, JP Morgan and others that have recently entered this market. Today, this sub-sector is attracting big institutional investors and industrial real estate developers/investors. “Historically, investors in truck terminals were large trucking companies that wanted to own their own facilities, like Old Dominion ABF, SAIA, R&L, Carriers, Central Transport and ESTES,” says Dean Brody, executive managing director and specialist in this investment area with real estate services firm JLL. Commercial real estate investors are beginning to take notice and are allocating more of their money to this niche sector. While we offer broad geographic coverage, if your business is unable to utilize an existing transload site, or if you prefer a dedicated transloading operation, we’d welcome the opportunity to create a new facility in your area.The growing logistics industry has not only created insatiable demand for warehouse space, it has ramped up growth in the transportation industry, creating a need for modern truck terminals with high-volume flow-through facilities. Inventory for quicker customer response as well as the economic benefit of long distance rail transportation with the reliability of final delivery by tank truck. Our sites transloaded 20,000+ railcars in 2022, providing shippers forward positioned product Heniff's’ network of rail bulk transload sites offers our customers a supply chain solution with multi-modal efficiencies. ![]() ONE OF NORTH AMERICA’S LARGEST BULK TRANSFER NETWORKS ![]()
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