Alterra IOS has successfully acquired a portfolio comprising 12 Class A industrial outdoor storage (IOS) properties, significantly enhancing its national presence. This expansion includes a total of 43.3 usable acres and over 165,000 square feet of warehouse space, strategically located in major U.S. markets such as Austin, Phoenix, Raleigh-Durham, Sacramento, and Tampa.
All the newly acquired properties are fully leased to a publicly traded leader in the equipment rental sector. They feature modern, build-to-suit layouts, reflecting the ongoing demand for quality IOS assets as the equipment rental industry experiences consolidation.
Strategic Growth in Key Markets
“This acquisition meaningfully expands our national footprint and reinforces our stature as a leader and trusted partner in the industrial outdoor storage sector,” said Mark Gannon, Senior Vice President of Acquisitions at Alterra IOS. He emphasized the importance of these properties, noting their strategic locations and high-quality construction.
The portfolio includes sites in several key locations:
– Kings Mountain, NC (Charlotte MSA): 7.0 acres / 20,950 sq. ft.
– Port Allen, LA (Baton Rouge MSA): 5.8 acres / 23,060 sq. ft.
– Malabar, FL (Palm Bay MSA): 4.9 acres / 19,700 sq. ft.
– Apache Junction, AZ (Phoenix MSA): 4.2 acres / 10,850 sq. ft.
– Conway, SC (Myrtle Beach MSA): 3.6 acres / 10,850 sq. ft.
– Wilmington, NC (Wilmington MSA): 3.0 acres / 14,400 sq. ft.
– Sacramento, CA (Sacramento MSA): 3.0 acres / 9,440 sq. ft.
– Monroe, LA (Monroe MSA): 2.7 acres / 15,250 sq. ft.
– Austin, TX (Austin MSA): 2.5 acres / 9,600 sq. ft.
– Ocala, FL (Ocala MSA): 2.4 acres / 15,110 sq. ft.
– Tampa, FL (Tampa MSA): 2.4 acres / 9,440 sq. ft.
– Wake Forest, NC (Raleigh-Durham MSA): 1.6 acres / 10,800 sq. ft.
The transaction was facilitated by Rory Shelby and Scott Gould of Marcus & Millichap. Shelby commented on the sale, stating, “The sale of this multi-state portfolio highlights the significant demand we’re seeing for blue-chip, institutional-quality equipment rental assets in top markets, where supply is extremely limited.”
Maintaining Leadership in the IOS Sector
As of the second quarter of 2025, Alterra IOS remains the largest owner of industrial outdoor storage properties in the U.S., with over 350 properties across 37 states. The company focuses on acquiring infill locations that are near essential logistics and transportation hubs. This strategy serves businesses that require outdoor storage for equipment, fleet vehicles, shipping containers, or construction materials.
The acquisition not only illustrates Alterra’s commitment to expanding its portfolio but also highlights its dedication to fostering robust tenant partnerships. As the equipment rental sector continues to grow, the demand for well-located, high-quality IOS properties is expected to increase, positioning Alterra IOS for continued success in the industrial outdoor storage market.
