Thursday Trades: Industrial Outdoor Storage Deals - April 3, 2025

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Alterra IOS announced the acquisition of 2700 Louisville Road, Savannah, GA. The site featured 7.23 usable acres with 13,069 SF of building improvements approximately 3.5 miles from Port of Savannah. The site is fully leased to a national tenant. Charlie Totten and Sean Christman spearheaded this transaction.

FINANCING: Lantern’s Capital Markets team recently arranged a $28,850,000 loan for Sitex Group, LLC's acquisition of an 8.68-acre Industrial Outdoor Storage (IOS) site. The property offers access to major transportation corridors and is less than 10 miles from Newark International Airport and the Port of Newark. Prior to closing, the Sponsor navigated a lengthy entitlement process to secure IOS use. The financing included a proceeds earn-out tied to key project milestones.

ACQUISITION: Clarion Partners Real Estate Income Fund Inc. (CPREX) has expanded into the IOS sector by providing a first mortgage loan to a joint venture between Outour Storage Investments and affiliates of Cerberus Capital Management. This investment facilitated the acquisition of an eight-property IOS portfolio across across seven MSAs including Chicago, Phoenix, Las Vegas, Houston, Inland Empire, Dallas / Fort Worth and Atlanta. Eastdil Secured served as the advisor. Additionally, CPREX acquired a 7.59-acre 100% leased IOS site located at 15550 Export Plaza Dr in Houston. These strategic moves highlight CPREX's commitment to diversifying its portfolio within the growing IOS subsector.

ACQUISITION: ​The STRO Cos. and KRE Group have expanded their Florida industrial portfolio by acquiring two properties through a sale-leaseback transaction. The assets include a 20,380-square-foot building at 425 Hobbs St. in Tampa and a 22,887-square-foot facility at 558 Stuart Lane in Jacksonville, both featuring additional land for outdoor storage. This strategic move enhances their presence in high-growth Southeastern markets and aligns with their focus on functional, well-located industrial assets.

RECS
Worth a Look

• Check out Ted Peters’ piece on Ontario IOS

  

• NAIOS IOS Summit featured speakers highlighted below. Request an invitation today so you don’t miss it!

  

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