Alterra IOS has bought 2222 New World Drive, a 14-acre, infill industrial outside storage asset in Columbus, Ohio. Transport Properties offered the asset, CommercialEdge information exhibits. JLL brokered the sale.
The property features a 50,238-square-foot warehouse with 18-foot clear heights, eight drive-in doorways and three,400 sq. ft of workplace house. The power features a gated entrance with a 3,900-square-foot consumption facility and is adjoining to 34 acres of land accessible for enlargement.
Positioned inside 10 miles of the John Glenn and Rickenbacker Worldwide Airports, the IOS property is rail-served by CSX, making it the biggest paved rail website in Columbus. A number of main thoroughfares are inside 5 miles, together with interstates 270, 70 and 71, in addition to U.S. routes 33 and 23.
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Two months in the past, Alterra bought one other IOS asset in Columbus. Star Leasing offered 4080 Enterprise Park Drive for $6.1 million, CommercialEdge information reveals. Constructed in 1996, the property served as Star Leasing’s headquarters. With this newest buy, Alterra now owns six such belongings in metro Columbus.
A full-service trailer leasing supplier signed a long-term settlement to occupy the property at 4080 Enterprise Park Drive. The 8-acre industrial outside storage website includes 20,120 sq. ft of warehouse house whereas being situated close to the conflux of I-270 and I-70.
Final month the corporate expanded its Southeast portfolio. Alterra acquired three IOS belongings in metro Atlanta, boosting its footprint within the area to 23 properties. Alterra paid $22.4 million for the 28.3-acre portfolio.
Traders bullish on IOS
GreenPoint Companions CEO Chris Inexperienced underlined among the advantages of IOS in a current article on Business Property Govt. These embody low ongoing capital expenditures and tripe-net, multi-year, single-tenant leases. Inexperienced additionally talked about that profitability is predicted to extend thanks partly to rising demand and dwindling provide.
Seizing this chance, Triten Actual Property Companions and TPG Angelo Gordon upsized their 2020-launched three way partnership to amass north of $1 billion in IOS belongings over the following 5 years. The enterprise purchased greater than $500 million price of IOS properties with a mean of 18 yearly purchases since 2020.
In one other current transfer to capitalize on this area of interest market, Catalyst Funding Companions closed its Catalyst IOS Fund II with $186.9 million—surpassing its aim of $150 million. The fund focuses on densely populated, infill industrial markets with excessive limitations to entry.
