New York Based Development and Investment Company Continues Robust Expansion with $250M Spend Over the Next Year
New York-based IG Logistics, founded by real estate industry veterans Daniel Glaser and Sam Schneider, today announces its acquisition of a truck parking facility in Phoenix, marking the company’s first purchase in the city. The site was purchased for $3M. Located at 4020 W Lower Buckeye, the 8.5 acre site functions as a truck parking facility with 15 tenants currently occupying the space. The property is well-located with close proximity to transit routes including Interstates 10 and 17 and Loop 202. Neighbors include trucking and freight heavyweights FedEx, UPS Freight, JB Hunt, Estes Express, and more. Potential uses for the property include trailers, heavy equipment, or outside storage.
IG Logistics is the industrial platform for Imperium Capital, Glaser and Schneider’s real estate investment and development company founded over a decade ago. The new platform focuses on acquiring properties with a large outdoor storage or transportation element in high barrier to entry, urban growth markets where demand for logistics real estate is driven by e-commerce. IG Logistics’ strategy focuses on last mile facilities that are critical to the supply chain. In just one year, the company has purchased $75M of industrial sites, and has north of $100M under contract. They plan to buy north of $250M over the next year in markets including Denver, Dallas, Savannah, South Florida, Central Florida, Nashville, Philadelphia, Phoenix and Baltimore/DC.
“We’ve had our eye on the Phoenix market for some time now and this property hit all the marks of what we were looking to add to our growing IG Logistics portfolio” said Daniel Glaser, Managing Partner and Co-Founder of Imperial Capital. “We are actively looking for more investment opportunities in the city as we see great potential in the outdoor storage sector in Phoenix. This is the first deal of many.”
For more information on IG Logistics please visit www.imperiumcap.com/industrial