Top IOS Deals February '25 Recap

IOS YARDDOGS TOP DEALS
February 2025

ACQUISITION: Alterra IOS acquired an additional 16 properties via a 25-year NNN sale-leaseback acquisition from TruGreen for $43 million. John Fink of CBRE facilitated the sale on behalf of TruGreen. All properties are 100% occupied and include a collective of 326,400 SF on approximately 35 usable acres. This is the second national portfolio Alterra has acquired from TruGreen. The first transaction featured 17 sites from the lawn care company, featured 44 usable acres across 14 states, and closed in December 2023. The locations within the most recent portfolio acquisition are as follows:

• Atlanta MSA: 15 North Drive SE, Acworth, Ga

• Boston MSA: 21 Forge Parkway, Franklin, Mass.

• Columbus MSA: 4045 Lakeview Crossing, Groveport, Ohio.

• Dayton MSA: 800 Center Drive, Vandalia, Ohio.

• Denver MSA: 12445 Dumont Way, Littleton, Colo.

• Detroit MSA: 6272 Taylor Drive, Flint, Mich., and 48932 Wixom Tech Drive, Wixom, Mich.

• Grand Rapids MSA: 9077 Portage Industrial Drive, Portage, Mich.

• Greensboro MSA: 4220 Beechwood Drive, Greensboro, N.C.

• Lancaster MSA: 201 Bucky Drive, Lititz, Pa.

• Kansas City MSA: 8420 Cole Parkway, Lenexa, Kan.

• Lexington MSA: 2269 Danforth Drive, Lexington, Ky.

• Long Island MSA: 5 Todd Court in Yaphank, N.Y.

• Minneapolis MSA: 4240 Centerville Road, Vadnais Heights, Minn.

• Tulsa MSA: 2200 N Willow Drive, Broken Arrow, Okla.

• Washington D.C. MSA: 18910 Woodfield Road, Gaithersburg, Md.

ACQUISITION: Open Industrial announced the portfolio acquisition of four IOS properties totaling 7.7 acres with over 64,000 SF of industrial improvements located across North Carolina and Virginia. The Properties located in Richmond, Rocky Mount and Winchester are fully leased to Gregory Poole Equipment Company CAT. The Property located in Chesapeake is fully leased by Aggreko. Michael Hutton, Chad Pitts, Blake Potolicchio and Matt Potolicchio led the The Open Industrial team. The seller was represented by Bo McKown, Eric Robison, and Gregg Beck of Cushman & Wakefield | Thalhimer.

DISPOSITION: CBRE’s Investment Properties arranged the $12.75 million one-year sale-leaseback of a three-property industrial portfolio in Indianapolis, to a private high-net-worth investor for $258 PSF. The properties are located at 1220, 1254, and 1310 South West Street and have immediate access to some of the biggest Midwest distribution routes off I-70, I-465, and I-65. CBRE Investment Properties' Midwest leaders Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo and Bryan Johnson, along with JD Graves and Sarah Greer represented the seller, Sodrel Truck Lines Inc., in the transaction.

ACQUISITION: Matthews recently announced the closing of $45M of Net Leased Industrial Properties (outlined below). Congrats to Alex Harrold, Brett Davis and Isaac Wulff! What a lineup!

ABC Supply – Garland, TX
ABC Supply – San Antonio, TX
Builders FirstSource – Oakwood, GA
Exide – Muncie, IN
Frito Lay – Corsicana, TX
Hajoca – South Holland, IL
Hajoca – Tupelo, MS
STG Logistics – Mobile, AL
Sunbelt Rentals – Gainesville, FL

REFINANCING: Blackstone Inc.’s mortgage real estate investment trust is lending $189 million for IOS owned by a division of Alterra Property Group. The loan from Blackstone Mortgage Trust Inc. is financing the recent purchase of 49 properties concentrated in US markets such as Atlanta, Chicago and Tampa, Florida, Alterra said.

BONUS
YTD 2025 Comp Set

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