{"id":1004724035,"date":"2024-08-05T03:49:20","date_gmt":"2024-08-05T11:49:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004724035"},"modified":"2025-02-26T00:29:46","modified_gmt":"2025-02-26T08:29:46","slug":"zenith-jp-morgan-form-700m-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/","title":{"rendered":"Zenith, JP Morgan Form $700M JV"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"810\" height=\"606\" data-attachment-id=\"1004566528\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-kicks-off-700m-industrial-outdoor-storage-platform\/2118-california-crossing-dallas-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\" data-orig-size=\"810,606\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2118 California Crossing, Dallas. featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2118 California Crossing, Dallas. Image courtesy of Zenith IOS and J.P. Morgan Global Alternatives&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg?w=810\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\" alt=\"2118 California Crossing, Dallas.\" class=\"wp-image-1004566528\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg 810w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg?resize=300,224 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/a><figcaption class=\"wp-element-caption\">In 2022, the companies acquired an almost 39-acre site in Northwest Dallas. <em>Image courtesy of Zenith IOS and J.P. Morgan Global Alternatives<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Zenith IOS has formed a new $700 million joint venture with institutional investors advised by J.P. Morgan Asset Management, focused only on industrial outdoor storage properties across the U.S. This marks the duo\u2019s second such partnership, as they <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-kicks-off-700m-industrial-outdoor-storage-platform\/\">previously joined forces in February 2022<\/a> for a similar deal.<\/p>\n\n\n\n<p>The combined joint ventures will boast a gross asset value exceeding $1.5 billion, making it one of the largest portfolios of institutional-quality IOS assets in the country.<\/p>\n\n\n\n<p>The companies will pursue core infill locations that have minimal building density, in the top 40 markets, with transactions ranging from $5 million to $20 million.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/now-is-the-time-for-the-evolution-of-ios\/\">Now\u2019s the Time for the Evolution of IOS<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The partners already made several acquisitions through their first venture, including four properties and two sites in Dallas from an entity related to Anani Pumping. One of these transactions comprised an almost 39-acre site at 2118 California Crossing Road in Northwest Dallas.<\/p>\n\n\n\n<p>Zenith IOS\u2019 current portfolio totals about 28 million square feet of industrial outdoor storage space across more than 50 properties in 16 states. Last October, the firm announced plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/zenith-ios-to-develop-tampa-bay-property\/\">develop an IOS facility in Clearwater, Fla.<\/a> Zenith acquired the 20-acre site in September 2022 through its first venture with J.P. Morgan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-growing-industrial-niche\">A growing industrial niche<\/h2>\n\n\n\n<p>According to Zenith, the IOS niche remains robust and continues to grow. Triple-net rents in this subsector rose by about 30 percent from the fourth quarter of 2020 to the last quarter of 2023. Furthermore, vacancy rates have consistently been 2 percent lower than those of the broader industrial sector since the end of 2020, the same source shows.<\/p>\n\n\n\n<p>In June, Triten Real Estate Partners and TPG Angelo Gordon announced a major expansion of their initial joint venture, with plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/triten-tpg-angelo-gordon-launch-1b-addition-to-ios-platform\/\">acquire more than $1 billion in additional industrial outdoor storage assets<\/a> within the next five years. The companies partnered first in 2020 and have acquired more than $500 million of IOS assets.<\/p>\n\n\n\n<p>Earlier this year, Catalyst Investment Partners <a href=\"https:\/\/www.commercialsearch.com\/news\/catalyst-investment-closes-187m-ios-fund\/\">closed its Catalyst IOS Fund II<\/a> with $186.9 million in LP commitments. The fund will focus on major East Coast markets and grow the firm\u2019s portfolio to more than $500 million in gross asset value.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The duo partnered again to invest in IOS facilities.<\/p>\n","protected":false},"author":3355,"featured_media":1004566528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,23891,21742],"tags":[33651,52038],"class_list":["post-1004724035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-national","category-latest","tag-jp-morgan-asset-management","tag-zenith-ios"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zenith, JP Morgan Form $700M JV - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Zenith IOS and JP Morgan Asset Management formed a second, $700 million venture focused on industrial outdoor storage investment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zenith, JP Morgan Form $700M JV\" \/>\n<meta property=\"og:description\" content=\"Zenith IOS and JP Morgan Asset Management formed a second, $700 million venture focused on industrial outdoor storage investment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-05T11:49:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T08:29:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"606\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/\",\"name\":\"Zenith, JP Morgan Form $700M JV - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\",\"datePublished\":\"2024-08-05T11:49:20+00:00\",\"dateModified\":\"2025-02-26T08:29:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Zenith IOS and JP Morgan Asset Management formed a second, $700 million venture focused on industrial outdoor storage investment.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/zenith-jp-morgan-form-700m-jv\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/2118-California-Crossing-Dallas.-featured.jpg\",\"width\":810,\"height\":606,\"caption\":\"2118 California Crossing, Dallas. 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