Alterra IOS Acquires Two Industrial Outdoor Storage Sites in Columbus, Ohio

August 01, 2024 at 13:29 PM EDT

The locations represent 22.3 acres of usable land, offering tenants easy access to regional transportation hubs and major Midwest cities

Alterra IOS, a prominent player in the industrial outdoor storage (IOS) sector which has acquired over 270 properties nationwide, today announced the acquisition of two IOS properties totaling 22.3 acres within the city of Columbus, Ohio. The sites include 4080 Business Park Drive and 2222 New World Drive.

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Aerial view of 4080 Business Park Drive (Photo: Business Wire)

Both properties are located just minutes from downtown Columbus, offering tenants easy access to major interstate highways, national rail networks, and international airports. Columbus’ location in the heart of the Midwest allows for seamless exchange across multiple states.

“Alterra IOS continues to expand our footprint in a key Midwest industrial and logistics market with the acquisition of two strategically located, infill IOS properties. Both properties reinforce our commitment to providing high-quality industrial outdoor storage solutions to our tenants.” – Parker Pearson (Vice President, Acquisitions)

4080 Business Park Drive spans over 8.3 usable acres and features 20,120 square feet of accompanying warehouse space. A leading national full-service trailer leasing provider entered into a long-term lease agreement at closing. The property provides immediate access to two of the largest interstate highways in the Midwest, I-70 and I-270. 4080 Business Park Drive is also located within close proximity to some of the largest transportation hubs in the area including the CSX terminal and the Norfolk Southern Intermodal Terminal, as well as John Glenn and Rickenbacker International Airports.

2222 New World Drive includes 14 usable acres with 50,238 square feet of accompanying warehouse space. The property offers tenants direct access to both John Glenn and Rickenbacker International Airports and to major interstates such as I-70, I-71, and I-270. The location provides connectivity not only to the Columbus metropolitan area but multiple major cities in the Midwest including Cleveland, Chicago, Detroit, and Indianapolis. Additionally, the site is served directly by CSX rail and sits just five miles from the Norfolk Southern Intermodal Terminal.

As a vertically integrated investor, developer, and operator of IOS, Alterra is uniquely positioned to serve companies in search of national connectivity to store equipment, machinery, vehicle fleets, shipping containers, building materials, retail inventory, and more. This acquisition brings Alterra’s total number of owned sites in the Columbus area to six.

JLL facilitated the acquisition of 2222 New World Drive.

Ascension Advisory facilitated the acquisition of 4080 Business Park Drive.

About Alterra IOS

Alterra’s industrial real estate platform, Alterra IOS, is dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. Focused on low-building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material, and equipment storage, Alterra brings an institutional comprehension of the municipal & logistical complexities in securing mission-critical real estate for the often-overlooked sectors of the U.S. industrial landscape. Over the past six years, Alterra IOS has created tenant relationships in the transportation & logistics, vehicle storage, equipment rental, and building materials industries through the acquisition or development of over 270 properties across 30+ states as of Q2 2024. The dedicated team of investment, development, construction, and asset management professionals provide tenants the resources to grow and improve their businesses through site selection, development, and/or sale-leaseback transactions.