Tuesday Trades: IOS Deals - April 29, 2025

CLOSED TRANSACTIONS
Acquisitions and Dispositions

ACQUISITION: Steel Peak has acquired an industrial outdoor storage (IOS) property at 25924 78th Avenue S in Kent, Washington, for $5.65 million — the firm’s first IOS purchase outside of California. The property, featuring a functional industrial building and yard space, is minutes from I-5 and I-405 and has been leased long-term to Colorado Barricade. Steel Peak plans to complete improvements to the site to support the tenant’s operations.

ACQUISITIONS: Choice Properties REIT reports in its Q1 2025 financials it has made $340.3 million in acquisitions during the past couple of weeks; a Toronto-area distribution centre, and a portfolio of outdoor industrial storage properties. Acquired eight outdoor industrial storage sites from an undisclosed vendor for $158 million. Choice did not release any further information about that transaction, other than to state the properties are located across Canada.

ACQUISITION: R.W. Holmes has completed the sale of 1628–1636 Shawsheen Street, a three-acre industrial outdoor storage (IOS) site, for $2.3 million. MassMulch, a growing landscape supply company, acquired the property to support its expanding operations across Massachusetts. R.W. Holmes’ Mike Ogasapian, SIOR, and David Gilkie, SIOR, represented the seller, the Fortier Family, in the transaction.

LEASES SIGNED
Recently Leased Properties

LEASED: Prescott is excited to announce a new lease with Turner Construction Company at 50 Mystic Avenue in Medford, MA. Turner has secured 16,000 SF of industrial space on 1.1 acres of industrial outdoor storage (IOS), just 6 miles from downtown Boston. The site, featuring multiple drive-in bays, a contractor yard, and excellent highway access, will serve as a key operations and equipment hub for Turner. Congrats to David Skinner and the Prescott team for getting this done!

LEASED: Evan Sassaman and The Avison Young team recently closed two Industrial Outdoor Storage (IOS) transactions in Raleigh, representing the tenant on Trademark Road and the landlord on Gresham Lake Road. With IOS space in high demand and limited supply, locating suitable sites for tenants remains a major challenge.

RECS
Check It Out

• NW1 Partners and URBZ Capital have closed a €192M Dutch IOS Vehicle with CBRE Investment Management as the Final Investor — The investment strategy is focused on the acquisition of IOS assets in existing industrial clusters and logistics corridors across the Netherlands

   

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