Overview of Alterra IOS's Latest Acquisition
Alterra IOS, a key player in the industrial outdoor storage (IOS) market, has recently broadened its portfolio by acquiring three vital sites in the Chicago metropolitan area. Known for its substantial holdings—over 280 properties nationwide—this strategic investment emphasizes Alterra's commitment to expanding its footprint in the IOS sector.
Details of the Newly Acquired Properties
The recent acquisitions amount to a significant total of 14 usable acres spread across prime locations. Each site is situated within the extensive Chicagoland area and benefits from excellent connectivity to major highways, making them ideal for logistics and operations.
Property Locations
The properties acquired by Alterra IOS include:
- 2201 East Higgins Road: This property spans 4.8 usable acres and offers 35,000 square feet of warehouse space. It is strategically located just north of Chicago and is in proximity to O'Hare International Airport and several interstate highways, including I-90, I-290, and I-294.
- 22634 South Frontage Road East: Covering 4.4 usable acres, this site includes 36,000 square feet of warehouse space. Its advantageous location near Joliet allows easy access to I-80 and I-55, establishing connections to the CenterPoint Intermodal Center, which is recognized as the largest inland port in the U.S.
- 300 West Chicago Avenue: With 4.9 usable acres and 34,000 square feet of warehouse space, this site is located near the Illinois/Indiana border. It provides immediate highway access to major routes, facilitating logistics and transportation throughout the Midwest.
Strategic Importance of the Acquisition
Mark Gannon, Senior Vice President at Alterra IOS, expressed optimism regarding these acquisitions, stating that they embody the company’s investment strategy which targets infill assets situated close to significant infrastructure and population hubs. This strategy is particularly relevant as demand for such storage properties remains robust within Chicago and other pivotal markets.
Market-Relevant Utilities
Each of the newly acquired sites is fully leased to a worldwide leader in the equipment rental industry, indicating a strong rental demand and reliable income generation for Alterra IOS. The functional layouts of these properties enable a diverse range of usage, catering not only to equipment rental needs but also to other subsectors within the IOS market.
About Alterra IOS
Alterra IOS has established itself as a prominent entity, owning a substantial portfolio of industrial outdoor storage assets across over 35 states in the U.S. With an integrated approach to investing, developing, and managing properties, Alterra IOS offers comprehensive solutions tailored to businesses seeking national-scale operations for storage purposes. This includes catering to industries that rely heavily on storage for equipment, vehicle fleets, shipping containers, and more.
The dedicated team at Alterra IOS comprises professionals specializing in investment, development, construction, and asset management. They focus on creating lasting relationships with tenants in sectors such as transportation and logistics, vehicle storage, equipment rental, and building materials. This collaborative approach ensures that tenants have access to the resources required for business growth and success.
Frequently Asked Questions
What is Alterra IOS?
Alterra IOS is an institutional investor focusing on industrial outdoor storage, holding over 280 properties across the United States.
Where are the new properties located?
The newly acquired locations are situated in the Chicago metropolitan area, specifically in Elk Grove, Minooka, and East Chicago.
How many acres did Alterra acquire in Chicago?
Alterra IOS acquired three sites totaling 14 usable acres in the Chicago metropolitan area.
What is the significance of these acquisitions?
These acquisitions enhance Alterra's portfolio by providing strategic access to major highways and logistical hubs, vital for the equipment rental industry.
What benefits do tenants receive from Alterra IOS?
Tenants benefit from comprehensive support in site selection, development, and leasing, ensuring customized solutions for their operational needs.
