Alterra IOS Buys 7-Asset Portfolio
Alterra IOS has acquired seven properties located in as many metro areas across the nation’s mid-section and totaling 23 usable acres. Their previous owner was Kyle Holdings LLC, according to CommercialEdge information.
Fully leased to a national telecommunications and broadband network supply company, the assets are in the Dallas, Minneapolis, Indianapolis, Chicago, Nashville, Tenn., Cleveland and St. Louis metro areas.
The portfolio includes:
• 2629 Blue Mound Road W. in Haslet, Texas: 4.9 usable acres with 21,839 square feet of onsite warehouse space.
• 17270 N. 113th Ave. in Osseo, Minn.: 3.2 usable acres with 24,000 square feet of warehouse space.
• 3601 N. Arlington Ave. in Indianapolis: 3.5 usable acres with 14,400 square feet of warehouse space.
• 22791 Challenger Road in Frankfort, Ill.: 3 usable acres with 13,250 square feet of warehouse space.
• 200 Easy St. in La Vergne, Tenn.: 1 usable acre with 10,500 square feet of warehouse space.
• 36454 Mills Road in Avon, Ohio: 5 usable acres with 14,600 square feet of warehouse space.
• 13 Guenther Blvd. in St. Peters, Mo.: 2.3 usable acres with 29,000 square feet of warehouse space.
CRE Advising, a boutique brokerage based in Chicago, facilitated the acquisition.
Steady buyer
At the end of September, Alterra IOS’s portfolio totaled more than 280 properties across over 30 U.S. states. The firm has been on a consistent run of acquisitions this year.
In January, the company closed two sizable sale-leaseback transactions. One was in partnership with ConGlobal Industries, to acquire four of the latter’s mission-critical IOS properties, in the New Orleans, Houston, St. Louis and Jacksonville metro areas. In the other, Alterra acquired from TruGreen, the leading lawn care company, 17 IOS assets totaling 350,000 square feet of buildings and 44 acres in 15 markets nationwide.
In further deals from March to September, Alterra picked up a 5-acre IOS property in suburban Baltimore, a 14-acre property in Columbus, Ohio, and four IOS assets totaling 17 acres in metro Houston.
The post Alterra IOS Buys 7-Asset Portfolio appeared first on Commercial Property Executive.
